May '04 Forex
- Thread starter Newtron Bomb
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wonderful start to trading the system. Just banked exactly 50 pips from the 7-10 B/O system. thanks JT.
In the past I've spent a LOT of time and effort on developing similar systems for the SPX and DOW futures. Whilst they have done OK the long term results just didnt justify the time effort and money. I'm very happy to see you have found a profitable way of working the principle.
Problem now is do I stick with the 7-10 system or move over to the 1-8.
hmmmm.
all the best
Neil
In the past I've spent a LOT of time and effort on developing similar systems for the SPX and DOW futures. Whilst they have done OK the long term results just didnt justify the time effort and money. I'm very happy to see you have found a profitable way of working the principle.
Problem now is do I stick with the 7-10 system or move over to the 1-8.
hmmmm.
all the best
Neil
Newtron Bomb
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Do both as two separate systems if your not sure.
I trade the Asian session BO at 8AM GMT with no worries and out on target. It has become quite monotonous but consistent.
Happy Trading
NB
I trade the Asian session BO at 8AM GMT with no worries and out on target. It has become quite monotonous but consistent.
Happy Trading
NB
thnks Newtron, I've just been thinking that a merger of the two may be good; ie take the 1-8 breakout trade if it presents itself. If theres no breakout by 10am then look for a 7-10 breakout.
when you 'out on target' do you mean closing at 6pm or are you working to a fixed points target?
Neil
when you 'out on target' do you mean closing at 6pm or are you working to a fixed points target?
Neil
Newtron Bomb
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Surely am stating the obvious when there is no BO at of 8am high/low until 10am then this is still and 8am BO. perhaps i am oversimplifying lol 
Happy Trading
NB
Happy Trading
NB
Newtron Bomb
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Robber
I trade the asian range as a pattern and am looking for a price target detaermined by the current days range. I can be in and out in an hour or it can take all day to get there.
HTH
NB
I trade the asian range as a pattern and am looking for a price target detaermined by the current days range. I can be in and out in an hour or it can take all day to get there.
HTH
NB
FetteredChinos
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rossored
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I've only just started following this BO system but shouldnt it be from .2144 not .2143?
As it happens I was long from the little bull flag at 1.2122 anyway but I'm curious as to the "mechanics" of it, having never traded a mechanical system before.
As it happens I was long from the little bull flag at 1.2122 anyway but I'm curious as to the "mechanics" of it, having never traded a mechanical system before.
FetteredChinos
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good luck chowster. may the force be with you.
glad im not the only one long at the moment.
i really should stop trading cable. it gives me heart attacks sometimes.
not in the best of moods today. flathunting was a disaster last night - went all the way to fulham only to be told by the landlord that the flat had gone, despite arranging to show me the flat.
git. complete and rampaging git lol
FC
glad im not the only one long at the moment.
i really should stop trading cable. it gives me heart attacks sometimes.
not in the best of moods today. flathunting was a disaster last night - went all the way to fulham only to be told by the landlord that the flat had gone, despite arranging to show me the flat.
git. complete and rampaging git lol
FC
FetteredChinos
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right stop moved to +5. time to let this baby run.
FC
FC
MGBRoadster
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So many systems...
Decided to try smaller stakes and run both 1-8 and 7-10 systems
Currently long on Cable and EUR/USD for both systems
Decided to try smaller stakes and run both 1-8 and 7-10 systems
Currently long on Cable and EUR/USD for both systems
MGBRoadster said:Decided to try smaller stakes and run both 1-8 and 7-10 systems
Currently long on Cable and EUR/USD for both systems
It's going to be interesting to see which system does better.
I'm sticking with the 7-10 system for the moment. Long EUR from 1.2148. And ,inspired by The Wanderer, I'm trying USD/CHF - short from 1.2738. :cheesy:
FC : Flat hunting is a real pain. But the right place will turn up in the end.
Regards,
FetteredChinos
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am now short from 1.7993.
looks like a bearish triangle
looks like a bearish triangle
ivorm said:It's going to be interesting to see which system does better.
I'm sticking with the 7-10 system for the moment. Long EUR from 1.2148. And ,inspired by The Wanderer, I'm trying USD/CHF - short from 1.2738. :cheesy:
I have also been inspired by The Wanderer
neil
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Ramblings while making coffee
Re the 5 minute chart - the other method was to go short from the break of the 7am close/or low.
You could always build in a 30 point channel ( 7am low/or close, plus 30 points = Short :
7am high/or close, plus 30 points = Long).
So you would be short thus far, from close/or low ,at 7am ?
FetteredChinos said:right stop moved to +5. time to let this baby run.
FC
Re the 5 minute chart - the other method was to go short from the break of the 7am close/or low.
You could always build in a 30 point channel ( 7am low/or close, plus 30 points = Short :
7am high/or close, plus 30 points = Long).
So you would be short thus far, from close/or low ,at 7am ?
Last edited:
FetteredChinos
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hmm, i had a look at this idea neil.
it doesnt seem to work terribly well. have a look at 3rdDawn's spreadsheet and try it out in there. yes it is profitable, but have a look at the equity curve. it was all over the place if i recall.
erm, i think with a 30 pt channel we would still be long from about the level we are at now.
as it is ive already managed to bag +42 today, so im kinda chuffed
FC
it doesnt seem to work terribly well. have a look at 3rdDawn's spreadsheet and try it out in there. yes it is profitable, but have a look at the equity curve. it was all over the place if i recall.
erm, i think with a 30 pt channel we would still be long from about the level we are at now.
as it is ive already managed to bag +42 today, so im kinda chuffed
FC
