Question: Am I interpreting JonnyT's figures correctly?

[BarNov]

Hi all, newbie here looking at Forex. Been reading JonnyT's posts on his strategies (many thanks for such valuable info)..... so now I'm looking at seeing if my interpretation is correct.

EUR/USD
Jonny has mentioned 2 strategies

1) Look at High/Low 07:00 - 10:00
Go long / short if high/low broken with 35pip SL
From what I can see on Deal4Free data is :

Low was about 1.2395, High baout 1.2435
So we will go long/short with a 35pip SL when firest of these is broken

Are thse figures corrcet?? and at the moment are we still out of te market????

2) Take high/low of 07:00 5 m bar
Today this was about 1.2395/1.2405..
And as we have broken 1/2405 we are long looking for 200 pips
What is the SL on this one????
Current figures suggest we are long, but showing a loss at moment even though we did get to about 1.2435

Are thse figures correct????

GBP/USD
same as EUR/USD #1 above
high / low for 07:0 - 10:00 was about 1.8568 / 1.8668
Neither have been broken since 10:00 so we are still out of the market at the moment
Are these figures correct????
What is the best SL fir thisi one as Jonny mentioned lower SL in his analysis???


Thanks in advance

Paul.

 

[bdholmes]

Your figures are slightly different from mine, are you looking at the Globex Euro FX futures contract? We went long in your system #1 (Spot On) today, Euro FX broke 7-10 high of 1.2422. At 10:30 it reached a high of 1.2423 before retracing, and now we are stopped out. A similar thing happened on Friday only short rather than long. Do you think the big players have got wind of Spot On and are playing games with us?

 

[BarNov]

My figures might be slightly skew'ed as I'm was looking at a 5m chart on Deal4Free FX Spot, where I was trying to interpret the figures (as best I could) from the gridlines .. not exactly rocket.. but a rough stab anyway.. just to make sure I'm in the right ball park.

Don't have access to streaming data at the mnoment.. hence the reason that your "real" figures differ from my "eye-balling" a chart & it's gridlines.

If you have figures for the orther stargegies I'b de intersted to see what would have happned in the real world..... with EUR/USD #2 and GBP/USD

Thanks in advance (again)

Paul.

 

[TheBramble]

BarNov - you need to be looking at the Futures not the Spot.

 

[BarNov]

Not sure if Deal4Free shows/has the same instrumenst that you are reeferring to i.e futures,
But I have just opened the charts for : -

FX Outright Forwards/EUR/USD/1month & 3month

1) The 1month is lin line with BDHolmes figures of 1.2422, which was eclipsed about 40 mins later and would have taken out the Stop at 1.2386/7.. current figures suggest 1.2397/1.2403 i.e 7 pip spread (ouch)

2) The 3month shows a high of about 1.2411 which was also hit about 11:40.. and which has also been stopped out.

So hopefully I'm along the right lines now.... thanks for that.

The next question is then : other than D4F is there another source of data/quotes that I should be using that is free at the moment .. don't want to open any account until I've learnt more on the subject.

Once again thanks so far for all the help I'm getting.. much appreciated.

Paul.

 

[waverider]

Free Forex data

Try this link for realtime Forex...

http://thetradingedge.co.uk/forchar.htm

Waverider