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Currency Strength Journal

  • #21
  • Oct 8, 2014 4:56pm Oct 8, 2014 4:56pm
AUDNZD - Buy at 1.11666
SL 35.6 pips
TP 53.4 pips

ATR 89
Daily Open Price 1.11755
SL 44.5 pips above Daily Open
TP 44.5 pips below Daily Open
Entry 8.9 pips (10% of ATR) below Daily Open

Chart H1
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD.png Size: 22 KB
  • #22
  • Oct 8, 2014 5:33pm Oct 8, 2014 5:33pm
so what will be the TP at Please?
  • #23
  • Oct 8, 2014 8:43pm Oct 8, 2014 8:43pm
Quoting Zondervan
AUDNZD - Buy at 1.11666 SL 35.6 pips TP 53.4 pips ATR 89 Daily Open Price 1.11755 SL 44.5 pips above Daily Open TP 44.5 pips below Daily Open Entry 8.9 pips (10% of ATR) below Daily Open Chart H1 {image}

AUDNZD

SL hit 35.6 pips

H1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD.png Size: 19 KB
  • #24
  • Oct 8, 2014 8:50pm Oct 8, 2014 8:50pm
Quoting behman8850
so what will be the TP at Please?
Hi behman8850, the blue line on the chart is the TP (1.12200) The red line is the SL (1.11310). Today SL was hit. But that is ok, as one trade is not important to my overall system. To be making consistent money my win rate just needs to be only 60%.
  • #25
  • Oct 9, 2014 7:57am Oct 9, 2014 7:57am
Thank you Zondervan. I also lost $7 yesterday. But I had bought at 1.11857 sl 1.11359 costing me $7.87 loss. Thats ok. I again thank you . I will be looking forward to your trades. When I get to know your trades the price always has already gone , so i just take whatever the price was! I think that was foolish of me like yesterday by the time i recd your trade notification instead of buying at 1.11666 i had to buy at 1.11857. What should I do pl. advise me.
  • #26
  • Oct 9, 2014 7:05pm Oct 9, 2014 7:05pm
USDCAD - Sell at 1.11927
SL 34 pips
TP 51 pips

ATR 85
Daily Open Price 1.11842
SL 42.5 pips above Daily Open
TP 42.5 pips below Daily Open
Entry 8.5 pips (10% of ATR) above Daily Open

Chart H1
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.png Size: 16 KB
  • #27
  • Edited 11:01pm Oct 9, 2014 7:43pm | Edited 11:01pm
Quoting behman8850
Thank you Zondervan. I also lost $7 yesterday. But I had bought at 1.11857 sl 1.11359 costing me $7.87 loss. Thats ok. I again thank you . I will be looking forward to your trades. When I get to know your trades the price always has already gone , so i just take whatever the price was! I think that was foolish of me like yesterday by the time i recd your trade notification instead of buying at 1.11666 i had to buy at 1.11857. What should I do pl. advise me.
Hi behman8850, I am still testing this system. I think it will be profitable but I need to test it for a few weeks first. If you want to copy my trades (although I suggest you wait until I have finished testing), I would only enter at the same price as me (or better). If you miss an entry, remember there will always be another trade tomorrow. If you try to chase a trade you have a much higher probability of losing so never do that.

Probabilities is what profitable trading is all about. When someone places a trade they may think they have a 50% chance of price hitting their TP. But actually the probability is somewhere between 12.5% and 25%. Which is why most traders over time end up losing. So you need a method or system that is going to bring the odds back into your favour.

My system does that by giving me a true 50% chance of winning. Applying my risk to reward ratio of 1:1.5 mathematically gives me a 60% win rate. So if my math is correct my system should be consistently profitable.

Next week I will add a Demo Trade Explorer starting with $1000 capital and risk no more than 3% per trade. I will trade it for 4 weeks. The goal will be to make at least 5% profit every week for four weeks (total at least $200 after 4 weeks). If I achieve this then I will add this system to my live account.

Thanks for your interest.
  • #28
  • Oct 9, 2014 9:31pm Oct 9, 2014 9:31pm
Thank you Zondervan, I really appreciate your efforts here to explain to me. Like today also I just Copied your trade , and after some time, it has come back the price, i did NOT chase it. I ask you why only one pair trade a day? You must be putting your signal on all the scrips.
  • #29
  • Oct 9, 2014 11:38pm Oct 9, 2014 11:38pm
Quoting behman8850
Thank you Zondervan, I really appreciate your efforts here to explain to me. Like today also I just Copied your trade , and after some time, it has come back the price, i did NOT chase it. I ask you why only one pair trade a day? You must be putting your signal on all the scrips.
I trade only one pair because I am trying to trade the weakest and the strongest currencies against each other based on my currency strength system. I don't use an indicator, I just input and analyse the data myself. This takes me about 20 minutes per day. I'm sure a computer could do it in a few seconds!! One trade per day with careful risk and money management can make a massive amount of % gain over time. It also gives you full control over your risk and drawdown.
  • #30
  • Oct 10, 2014 3:53am Oct 10, 2014 3:53am
Can I have that Indi here? So I can also see which one is weak and strong please? Also they may be weak for some time only n then they change!
  • #31
  • Oct 10, 2014 2:09pm Oct 10, 2014 2:09pm
Quoting behman8850
Can I have that Indi here? So I can also see which one is weak and strong please? Also they may be weak for some time only n then they change!
Sorry behman8850, like I said before I don't use an indicator, I manually input data and analyse in a spreadsheet. Currency strength and weakness shows money flowing around the world. Analysing which countries money has been moving between in the recent past gives me a possible idea of where it might go in the near future. (That's all I'm going to say regarding my analysis. You will have to do your own homework and testing)
  • #32
  • Oct 10, 2014 3:10pm Oct 10, 2014 3:10pm
Quoting Zondervan
{quote} Sorry behman8850, like I said before I don't use an indicator, I manually input data and analyse in a spreadsheet. Currency strength and weakness shows money flowing around the world. Analysing which countries money has been moving between in the recent past gives me a possible idea of where it might go in the near future. (That's all I'm going to say regarding my analysis. You will have to do your own homework and testing)
ok thanks.
  • #33
  • Oct 10, 2014 4:00pm Oct 10, 2014 4:00pm
Quoting Zondervan
USDCAD - Sell at 1.11927 SL 34 pips TP 51 pips ATR 85 Daily Open Price 1.11842 SL 42.5 pips above Daily Open TP 42.5 pips below Daily Open Entry 8.5 pips (10% of ATR) above Daily Open Chart H1 {image}

USDCAD

Neither TP or SL hit

Closed trade manually at end of day with a 7 pip loss

H1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.png Size: 24 KB
  • #34
  • Oct 12, 2014 7:54pm Oct 12, 2014 7:54pm
NZDUSD - Buy at 0.78100 (Trade #1 in Trade Explorer)
SL 45.6 pips
TP 68.4 pips

ATR 114
Daily Open Price 0.78214
SL 57(50% of ATR) pips below Daily Open
TP 57(50% of ATR) pips above Daily Open
Entry 11.4 pips (10% of ATR) below Daily Open

Chart H1
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.png Size: 17 KB
  • #35
  • Oct 12, 2014 9:36pm Oct 12, 2014 9:36pm
Quoting Zondervan
NZDUSD - Buy at 0.78100 (Trade #1 in Trade Explorer) SL 45.6 pips TP 68.4 pips ATR 114 Daily Open Price 0.78214 SL 57(50% of ATR) pips below Daily Open TP 57(50% of ATR) pips above Daily Open Entry 11.4 pips (10% of ATR) below Daily Open Chart H1 {image}

NZDUSD

TP hit 68.4 pips

H1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.png Size: 18 KB
  • #36
  • Edited 9:06pm Oct 13, 2014 8:16pm | Edited 9:06pm
AUDJPY - Sell at 93.762 (trade #2 in Trade Explorer)
SL 36.4 pips
TP 54.6 pips

Daily ATR 91
Daily open price 93.671
SL 45.5 (50% of ATR) pips above Daily Open
TP 45.5 (50% of ATR) pips below Daily Open
Entry 9.1 pips (10% of ATR) above Daily Open

Chart H1
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY.png Size: 17 KB
  • #37
  • Oct 13, 2014 9:01pm Oct 13, 2014 9:01pm
Quoting Zondervan
AUDJPY - Sell at 93.762 SL 36.4 pips TP 54.6 pips Daily ATR 91 Daily open price 93.671 SL 45.5 (50% of ATR) pips above Daily Open TP 45.5 (50% of ATR) pips below Daily Open Entry 9.1 pips (10% of ATR) above Daily Open Chart H1 {image}

AUDJPY

SL hit 36.4 pips
(I made a mistake with this trade- didn't read my analysis properly. it should have been AUDUSD- so I have re-entered market with AUDUSD)

H1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY.png Size: 21 KB
  • #38
  • Oct 13, 2014 9:05pm Oct 13, 2014 9:05pm
AUDUSD - Sell at 0.87791 (trade #3 in Trade Explorer)
SL 42 pips
TP 63 pips

Daily ATR 105
Daily open price 0.87686
SL 52.5 (50% of ATR) pips above Daily Open
TP 52.5 (50% of ATR) pips below Daily Open
Entry 10.5 pips (10% of ATR) above Daily Open

Chart H1
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 20 KB
  • #39
  • Oct 14, 2014 9:26am Oct 14, 2014 9:26am
Nice job with the thread mate. Will be following your progress...
  • #40
  • Edited 1:20pm Oct 14, 2014 1:04pm | Edited 1:20pm
Quoting Zondervan
AUDUSD - Sell at 0.87791 (trade #3 in Trade Explorer) SL 42 pips TP 63 pips Daily ATR 105 Daily open price 0.87686 SL 52.5 (50% of ATR) pips above Daily Open TP 52.5 (50% of ATR) pips below Daily Open Entry 10.5 pips (10% of ATR) above Daily Open Chart H1 {image}

AUDUSD

Neither TP or SL hit

Closed trade manually near end of day with a 56.9 pip gain

H1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 22 KB
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