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Art's journal of adventure & discovery

  • #1
  • First Post: Aug 22, 2006 5:26am Aug 22, 2006 5:26am
G'day all,

I will be posting my trades here as a check for myself.

I use the 5/12 cross and RSI(21) cross method, as discussed in the rather long but informative Sidus thread.

Seeing as we are trading the same system and method, Renasdad will also be posting his trades here.

From the outset, let me state that I will NOT be explaining my trades or the system here. It has been discussed/explained ad nauseam in the Sidus thread. This here is just for me to have all trades in one location. Of course, if you have any questions read that thread first and feel free to PM me. But really, all the answers are in that thread.

Cheers,
Art...
  • #2
  • Aug 22, 2006 6:05am Aug 22, 2006 6:05am
G'day all,

Looking at past moves of euro thru the vegas tunnel, I'm not confident that it will be able to break thru and continue towards remaing TP's. For this reason I will take TP2 @ 1.2840 (+30) and leave the final lot open, just incase.

I will do the same with USDCHF, taking 2 lots @ 1.2283 (+11 net), leaving one lot open and moving SL to 1.2252.

I may be wrong, but it doesn't matter.

Cheers,
Art...
  • #3
  • Aug 22, 2006 6:53am Aug 22, 2006 6:53am
Quoting Artamon
G'day all,
Looking at past moves of euro thru the vegas tunnel, I'm not confident that it will be able to break thru and continue towards remaing TP's. For this reason I will take TP2 @ 1.2840 (+30) and leave the final lot open, just incase.
I will do the same with USDCHF, taking 2 lots @ 1.2283 (+11 net), leaving one lot open and moving SL to 1.2252.
I may be wrong, but it doesn't matter.
Cheers,
Art...
SL of EURUSD moved to 1.2855.
SL of USDCHF moved to 1.2265.

Cheers,
Art...
  • #4
  • Aug 22, 2006 6:58am Aug 22, 2006 6:58am
Quoting Artamon
SL of EURUSD moved to 1.2855.
SL of USDCHF moved to 1.2265.
SL of EURUSD moved to 1.2840
SL of USDCHF moved to 1.2280

Cheers,
Art...
  • #5
  • Edited 7:29am Aug 22, 2006 7:18am | Edited 7:29am
GBPUSD short @ 1.8886

SL 1.8931

1nd TP 1.8855
2nd TP 1.8823

I will have 3 lots on this one and only 2 TPs for now. The third one I will be trailing with a stop.

time 14:00



edited due to wrong fib levels.
JOHN 3:16
  • #6
  • Aug 22, 2006 7:43am Aug 22, 2006 7:43am
EURGPB open trade short @ .6803

1st TP hit at .6788 +15 pips

2nd TP is .6752

3rd TP is .6732

SL has been moved to BE+1

On the last lot, I may trail the price and remove
JOHN 3:16
  • #7
  • Aug 22, 2006 7:51am Aug 22, 2006 7:51am
This is almost the same technique that I use... to bad I don't have so much time babysitting all day.


Do you just trade when the price hits the tunnel and on the outer fib lines??
  • #8
  • Aug 22, 2006 8:02am Aug 22, 2006 8:02am
G'day Grillbritt,

Quoting grillbritt
This is almost the same technique that I use... to bad I don't have so much time babysitting all day.
Do you just trade when the price hits the tunnel and on the outer fib lines??
If you're not prepared to put the time in to babysit your trades, why are you trading this way then? Move to a higher TF.

I usually won't have as much time, but you do what you gotta do. You either want to succeed at this or not. How many here are just passing the time, not concerned with success at trading FX?

Refer to the Sidus thread for the system. It's there. Take the time to read if it interests you. It's a long thread but it's worth it.

Cheers,
Art...
  • #9
  • Aug 22, 2006 8:12am Aug 22, 2006 8:12am
Quoting Artamon
SL of EURUSD moved to 1.2840
SL of USDCHF moved to 1.2280
I'm going to bed, so I'm tightening SL's and placing TP's for both:

USDCHF - SL moved to 1.2300 and TP @ 1.2355
EURUSD - SL moved to 1.2823 and TP @ 1.2775

Cheers,
Art...
  • #10
  • Aug 22, 2006 8:29am Aug 22, 2006 8:29am
Yes I have read the entire Sidus thread... was there in the beginning, and started to like the 5/12 cross with RSI.

I put in all my free time in to forex, I'm not quitting before I'm a millionaire

I think it is possible to trade with this method, and just watchin the computer in the morning before school, at the lunch and in the afternoon... atleast that is what I hope.
  • #11
  • Aug 22, 2006 10:18am Aug 22, 2006 10:18am
Awesome thread. As another Sidus follower I will be checking here to see if my trades coincide with both of yours.
  • #12
  • Aug 22, 2006 10:25am Aug 22, 2006 10:25am
Quoting grillbritt
to bad I don't have so much time babysitting all day.
If you use MT4 just set up an email alert so that you don't have to babysit. My system emails me whenever the 12EMA has crossed the 28EMA. Once I get the email I then open up the charts and decide whether or not to trade.
  • #13
  • Aug 22, 2006 7:43pm Aug 22, 2006 7:43pm
Quoting Artamon
I'm going to bed, so I'm tightening SL's and placing TP's for both:
USDCHF - SL moved to 1.2300 and TP @ 1.2355
EURUSD - SL moved to 1.2823 and TP @ 1.2775
USDCHF TP and exit hit @ 1.2355 (+83) - Total for this complete trade: +105

EURUSD trade is still open. I've moved SL to 1.2815. So far the 2 TP's have netted +35 & +30.

Cheers,
Art...
  • #14
  • Aug 22, 2006 8:08pm Aug 22, 2006 8:08pm
G'day all,

USDJPY trade taken:

Short @ 116.35.
SL is @ 116.67.
TP1 @ 116.25
TP2 & exit @ 115.95. (I will trail stop and not exit completely if I am at the PC if/when it gets near to this price)

Cheers,
Art...
  • #15
  • Aug 22, 2006 8:20pm Aug 22, 2006 8:20pm
Quoting Artamon
G'day all,
USDJPY trade taken:
Short @ 116.35.
SL is @ 116.67.
TP1 @ 116.25
TP2 & exit @ 115.95. (I will trail stop and not exit completely if I am at the PC if/when it gets near to this price)
Cheers,
Art...
Forget this trade. It isn't a valid 5/12 and RSI cross entry because the RSI hasn't crossed and closed below 50 yet.

Rather than delete this I thought I'd just explain it.

Cheers,
Art...
  • #16
  • Aug 22, 2006 9:37pm Aug 22, 2006 9:37pm
i was just going to ask.
  • #17
  • Aug 22, 2006 10:10pm Aug 22, 2006 10:10pm
Art, are you trading the 30 min or 1 hour charts?
  • #18
  • Aug 22, 2006 10:13pm Aug 22, 2006 10:13pm
Quoting Artamon
Forget this trade. It isn't a valid 5/12 and RSI cross entry because the RSI hasn't crossed and closed below 50 yet.

Rather than delete this I thought I'd just explain it.

Cheers,
Art...
Hi Art,

How about putting a sell stop at 116.20? I would imagine by then, the RSI(21) should have crossed 50. Of course, the first TP will be the tunnel. Just a thought!

Ken
  • #19
  • Aug 23, 2006 2:03am Aug 23, 2006 2:03am
Quoting imbiber
Art, are you trading the 30 min or 1 hour charts?
1hr charts only. But I do look at 4hr and daily just to get a reference for where current price is in relation to the bigger picture.

Cheers,
Art...
  • #20
  • Aug 23, 2006 2:10am Aug 23, 2006 2:10am
Hi Ken,

Quoting goodtiding5
Hi Art,
How about putting a sell stop at 116.20? I would imagine by then, the RSI(21) should have crossed 50. Of course, the first TP will be the tunnel. Just a thought!
Ken
Nope. One of my criteria is that the 5/12 cross and RSI(21) cross happen with a few bars of each other. Also, I will NOT open a trade based on just one of the signals. Taking a trade because an event "should" happen is a dangerous game to play.

Cheers,
Art...
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