April '04 Forex

Hi JT

I dont disagree that E has given money as ive had a pretty penny out of it myself. I just thought that the CHF had been trading easier from the point of view of the analysis that i do when day trading fx.

FC
Nice one some hansom gains there for you

Happy Trading
NB
 
cheers Dark, i appreciate its not one way traffic.

and not wanting to blow JT's trumpet too much, im currently employing a diluted/tinkered form of his daily breakout system across the EUR, GBP and YEN versus the dollar. having 3 instruments smooths out the equity curve (yes i know 13 days trading is too early to tell) somewhat.

anyway, if only i had listened earlier, i dont think i will be going back to trading the indices other than via my ISA for a very long time..

cheers, and thanks for the advice again,

Claudio :)

sorry, FC
 
FC

Nice to see you doing so well.I have also had good success over recent weeks trading Euro/USD and GBP/USD using Johnny T breakout system.Cheers to Johnny T for sharing this with us-top man and much appreciated :D :D

Just a quick question-presumably if we trade CHF/USD we use the 3 bars to 10am UK time to establish our breakout figure as CHF is a European currency.However,should we be using different bars if trading Yen/USD bearing in mind time difference with Tokyo?

Cheers and sorry if this sounds thick :eek: :eek:
 
TW, i still use the 7am bars onwards.. these markets get traded 24 hr and are busiest during the overlap of the UK and US opening hours ie lunchtime onwards in the UK.

however i have only recently added the Yen to me bow, and i have found that it doesnt always get triggered according to my new rules, which is probably just as well - if i dont trade i dont lose. which is a maxim i would do well to heed sometimes. im still not sure if it is still a valid trading vehicle during the hours i prefer to trade, but fwd testing will reveal this :)

breakout systems have been around for ages now for all instruments (they are of course based upon support and resistance, so should do well), and it is this that suggests to me that JT's systems, and modifications thereof may have some extended longevity, compare to others.

hope this helps.

FC
 
Eurodollar 1.1900 providing strong support now. been tested several times so far. Cable is down down and away at the moment, so i would fancy EUR having another stab at it. got a sell order in at 1.1880. Fingers crossed.

FC
 
Don't you just love selling at the low of the day? :(

lets see if this is just a mini-retrace, and not a correction.
 
FC

I've also been trading a hybrid of JT's BO system, as follows:

Breakout of 2 hour bar (8:00:01 - 10:00:00am UK time) +30 pips with a 40 pip protective stop. Close positions at 9:00pm UK time.

So far, I'm up 159 pips from 10 trades (4 winners, 6 losers) with Max DD of 126 pips. Interestingly, all losers have been Eur/$ trades. And as we speak, Cable is heading south. :D
 
i know goober, tell me about it. im +175 on that one alone at the moment.

cant wait for a beer tonight now :)

FC
 
ahh you wuss, im gonna tighten my stop and let her run i think.

DOW might bounce slightly soon, and taken Cable down further with it..


just my thoughts, ive told you lot about trading from them before :)


reckon we could see 1.7800 sometime today....

FC
 
FC

I agree. I think there's more to go on the downside.

I've put a sell stop in at 1.7970. If the market gets there from the current level, I'll be happy to stay short until 1.7800.
 
long term(daily chart) there is a giant head and shoulders panning out.

i was short on my D4F account from about 1.8250. targetting somewhere circa 1.70-1.65 ish.. if that pans out, i may well go and my myself a trailer park. yeee harr. :)

long way to go though. could all go horribly wrong though.

FC
 
oh balls, didnt work out too hot last night after all.

closed out at 9pm for +140. just about made up for the -90 on the Eurodollar. how many times do i sell within 10 points of the low of the day lol.

still, live to fight again today.

got 2 guns lined up today.. sell orders in at 1.7807 and 1.1916 cable and eurodollar respectively. lets see what happens aujourd'hui. with the raging hangover i have got today, i could do with some comfort. as long as it isnt southern :(

FC
 
Top