April '04 Forex

thought we had a lower high, after a lower low. thought the trend had turned.

as it is, we had yet another higher high. that must be about the 30th on the trot now!

FC
 
Thanx Wanderer. I was starting to think that everyone had moved onto another system and not told me about it ! !

Do you trail your stop. I've just moved mine to breakeven.

Regards,
 
FC

What time-frame are you looking at?

On the 5 min chart, there have been higher highs and higher lows since about 10:00 a.m.

Ivorm

My long entries this a.m. were based on a variation of JT's system. Unfortunately, I tried to be clever and got dumped on my a**e for not following my system. :eek:
 
was scarily looking at the 1 min chart :S

oo, i think we have finally had the break-down.

lets hope it gets some momentum up. i could do with a 100 pointer to recover the day!

:)
 
eh 'up,

I'm new to FX having mainly traded indices. Looking forward to contributing here as and when.

I'm long EUR/USD from this morning at 1.1801

I'm keeping an eye on this trade with a 5 min chart with a 55MA - RSI(14) and Slow Stochastics (39,1,1).
 
welcome to the madhouse chow.

not had a good day on this pesky £/$ so far today.

here are my latest thoughts. any move up should be limited from here, not only do we have round number support, but a few lines of resistance coming. at least i think so at any rate lol..

FC
 

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Goober : What's your variation ? (No prob if you don't want to reveal it !)

ChowClown : Nice entry. Let us know how you get on.

Regards,
 
ivorm, it seems to be struggling with resistance now at 1870, so my stops are nice and tight now...
 
Short-term long worked on the Euro then - looking for 1900 to be serious resistance, as a round number and also to maintain the overall downward trend. Might not even get there though. Still fairly unsure for the day's direction.

Ben
 
Redben

It doesn't take a genius to see that the day's direction is definitely north. I would be surprised to see a reversal before 18:00 this evening. Mind you, I have been wrong before - please see my signature line below! :LOL:
 
spoke too soon. looks like the move down it "beginning to start"...


come on baby, come to chinos. he needs to eat tonight!

FC
 
Ivor.

Looks like you're following original Johnny T breakout system correctly although I think that there was some modifiation suggested using 6 hourly bars to 8am with 60 point stop.For time being I am sticking to original system of 3 hourly bars to 10 am with 40 point stop-slightly wider stop than 35 points suggested but leaves bit extra leeway if SB companies try to hit stops to bomb you out.Trail stop to lock in profit/minimise losses especially on day like today where fairly rapid moves in our favour.

System given excellent results today-my current positions:

Euro/USD-Buy 1.1832-stop @1.1855

GBP/USD-Buy 1.7830-stop @1.7853

USD/CHF-Sell 1.3160-stop @1.3135

USD/JPY-Sell @108.70-stop @108.69

Currently trailing stop 20 pips behind so should see decent profit regardless of what happens now
 
good work TW.

hope the yen works out. its a pretty stubborn beast sometimes. never seems to move as much as the others lol!

FC
 
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