ADX Trading Journal

Trade #15 Sell AUDCAD

Trade #16 Sell NZDCAD

Week 1 results:

16 Trades- 9 wins 7 losses - win rate 56.3%
14 Trades using primary strategy - win rate 57%
2 Trades using alternative strategy - win rate 50%

After day one I decided not to place any trades before 00:00 EST as this seemed to increase my chance of a loss. If I filter out these 3 losing trades, my primary strategy win rate is increased from 57% to 72.7%.

Overall I am very impressed with the ADX indicator. I have never traded with it before and so far the results are pretty good. I have been using roughly 1:2 risk/reward ratio on all my trades. If I can increase my overall win rate to 70%, then this seems like a good profitable system. However it is still early days- perhaps this was an exceptional week.

If you are consistent with 1:2 and 50% win rate, that's far enough !

Hi FerruFx, thanks for visiting my thread. Yes I guess you are right!! Have you experimented with the ADX indicator?

In the past I have never used indicators to make trading decisions, but I am quite amazed at how good this indicator is at putting me into trades, and more importantly keeping me out of losing trades.

The best example about using ADX is the forexalien thread here: http://www.forexfactory.com/showthread.php?t=463573

That will be a very long reading ... but will worth the time spent.

Friday Actual: 1.AUD 2.USD 3.CAD 4.GBP 5.NZD 6.EUR 7.JPY
Monday Prediction: 1.JPY 2.NZD 3.AUD 4.CAD 5.USD 6.GBP 7.EUR

Currency Pairs I will be looking for m30 ADX cross on Monday
Sell EURJPY
Sell GBPJPY
Sell EURNZD
Sell GBPNZD

Subbed, Interesting stuff.

Trade #17 Sell GBPNZD

Monday Actual: 1.EUR 2.CAD 3.USD 4.NZD 5.JPY 6.AUD 7.GBP
Tuesday Prediction: 1.AUD 2.NZD 3.GBP 4.CAD 5.USD 6.JPY 7.EUR

Only one trade yesterday and it was a loss.

Currency Pairs I will be looking for m30 ADX cross today
Sell EURAUD
Sell EURNZD
Buy AUDJPY
Buy NZDJPY

Trade #18 - woops opened wrong currency pair- should have been EURAUD not EURNZD! Immediately closed

Trade #19 Sell EURAUD

Trade #20 Sell EURGBP

I am selling this based on the fact that yesterdays Actual Currency Order had EUR as #1 and GBP as #7. When this happens I think something is out of balance. The same could be said if AUD and NZD were #1 and #7, or if USD and CAD were #1 and #7. This happens only very rarely and it's a signal to me to Sell #1 and Buy #7. Will see how this trade goes.

Trade #21 Buy NZDJPY

Tuesday Actual: 1.GBP 2.USD 3.EUR 4.AUD 5.JPY 6.CAD 7.NZD
Wednesday Prediction: 1.NZD 2.CAD 3.AUD 4.JPY 5.USD 6.EUR 7.GBP

Three trades yesterday, two wins, one loss

Currency Pairs I will be looking for m30 ADX cross today
Sell GBPNZD
Sell EURNZD
Sell GBPCAD
Sell EURCAD

Trade #22 Sell EURNZD

Trade #23 Sell GBPCAD