cruze2005 attempt at the forex game
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Thread: cruze2005 attempt at the forex game

  1. #1
    This is my egy that I have been trialling for the last couple of months on a demo account. I'm creating this diary as a record for those transactions that I take. I will outline the egy below and I welcome input so long as it is helpful. Please be aware that this is in its infancy and whilst I've had some good success with it, it needs ironing out. In addition, I work for a living right now, so when my work hours change, my input will alter.
    Once more this is mainly a diary for me to plot my transactions whether effective or not. If this is similar to another trading egy in forum please understand that I have not viewed it. My previous inputs in this domain have been in the following threads. Jacko#8217;s home of pleasure and pain, Breezes ribbon and latest BRVs No brainer trades.

    SET UP: Primarily , I trade this egy on a 30 min chart; however I plot regions of strong support and resistance from a 4 hourly and daily point of view. Normally these are powerful areas that seem to naked eye and stand out. I will take two support and two resistance near wherever the market is at.
    I use the following EMAs in my 30 min chart. 21 RED for pace, 55 BLUE for momentum and 200 GREEN which is long term and will help define short term direction.
    I use Pin bars as to me they are easier to read and identifying support and resistance is easier for me, but I find no reason why additional chart symbol (candle, pin etc) won#8217;t work for you

    STRATEGY:
    WE trade either short or long based on where the RED 21 EMA is compared to the BLUE 55. For example if the reddish has crossed the blue to the drawback then we're looking brief and vice versa for long.
    We put in a transaction on a touch of the either of those EMA#8217;therefore I usually like the Blue or Green, but will take a smaller position on the reddish if the installation isn#8217;t seeking to go that deep.
    There is also one other trade I will take, however with caution. That trade is as soon as the blue and red EMA#8217;s cross. The only time I consider this transaction is when there's a pin touch as the pubs cross. When the pubs cross, and there pins/candle has taken right through, then I abandon this and wait for the market to come back and touch, I then enter the market.

    MONEY MANAGEMENT: At no time, all transactions contained do I exceed 5 percent of my account balance. As an example when I have 3 transactions on, the combined total of those doesn#8217;t exceed 5 percent. Even if there's a super fantastic installation I won't break this. I will however look to close a transaction if deemed necessary.

    STOP LOSS/LIMITS: My Maximum SL is 30 pips, however ideally I favor lower but no less than 20. So between 20 and 30. I also trade multi-lots. That I mean I will trade X amount of lots however in two phases. My very first X amount is going to have take profit of 30 pips. The Second I allow run up to 100 pips.

    IMPORTANT NOTE: ONCE THE FIRST LEVEL HAS BEEN TAKEN, OUR STOP LOSS NEEDS TO BE MOVED TO BREAKEVEN. This ensures a stress free trade and from there I will move my stop loss in 15 to 30 pip increments. So once our second trade is 60 pips out of our first entry we want to possess our SL in 30 pips or more locked in (its optional for different folks ).

    I will post some charts with illuions to help make sense of the rabble above. I will mention that so far with this method I've made the following trades.

    EUR/JPY (S) 160.90: 1st L @ 160.60, 2nd L @ 160.43 (Manual Exit) total 30 x2, 57 x 1 Ave= 39
    EUR/USD (L) 1.4710: 1st L @ 1.4740, 2nd L @ 1.4770, 3rd L @ 1.4800. Complete 30,60 90 Ave= 60
    EUR/CAD (L) 1.544: Stopped 1.544 Ave= 0
    GBP/USD (S) 1.8372 Stopped 1.8372 Ave = 0
    USD/CHF (S) 1.0939 1st L @ 1.0909 Complete 30 x 2 Bathrooms = 30

    I had 1 ridding trade in my live account before deciding to examine this on demo for as long as it takes to be comfy. That trade was around the EUR/USD and it dropped 30 pips on 1 lot.

    I hope to make this a egy I will stick with and for anyone who follows please feel free to offer constructive feedback. Also please examine this on a presentation before going live. The risk is yours if you opt to follow but I expect the benefits to be greater. As mentioned, I will get as many charts up as I will showing you what I've described.

    Sincerely Cruze2005

  2. #2
    I am usually home through the London/US opens, which for me offers the ideal opportunity. When the market is trending in a specific direction, naturally we'll get improved outcomes.

    The reason I started looking at this as a egy to utilize was I went back, on a number of currency pairs and watched the insistent reaction to these (EMA) zones. NOW no egy is fool proof and this one will have some discontinue outs along the way, but from what I have seen alot of these times there's an opportunity to minimise the risk since the market respects those levels and moves away, hopefully enough to warrant at least a Breakeven place.

    Since I have mentioned, I am trading this on a demo account and will do until I have recorded enough positive results for me to trade it live. IF you decide to trade it reside please do this at your own risk. PLEASE provide some feedback to me. I'd really like to here it and I take nothing to center (the discount button is great enough for me )

    I trust you will find green pips in the field in front of you.

    Take care and happy trading

  3. #3
    I picked up this spreadsheet by a thread I had been viewing and have used it the last week or so to document my own results. I will try and place it often and upgraded. It has my beginning balance on there for the demo account and whilst 1 pip isnt = to just $1 (or pound as noticed on the spreadsheet) it is close enough.

    I AM SORRY I CANNOT REMEMBER THE PERSON WHO PLACED THIS SPREADSHEET ORIGINALLY, and I trust I can have there permission to show it. If not I'll remove it, but for now here it is.

  4. #4

  5. #5
    This is a pic of a transaction (that I missed unfortunatly setting this up) where I would have obtained a trade on the 21. The reason here is that the gap between the 21 and 55 is quite important, so to me there is more speed on the downside. It would be half of the risk in duration of lot dimensions and 1 limitation.

    As you can see on the chart you can choose to trail a Stop reduction (either auto or manual) rather than have a limitation so you could maximise your profit. There are plenty of candles well below the current price, so in case it had been to create a lower low based on speed then you could easily make more than you 30 pips. 45 would be perfect as you desire a better risk/reward than 1:1.

  6. #6
    I have entered this morning on the USD/JPY to ch the gap commerce.

    USD/JPYgt;gt;gt; Long 108.33 Limit 108.63 Stop 108.43 @ 8 lots

    Im currently up 20 pips and will now move my stop to breakeven

  7. #7
    Following an entry in 108.33, close to two hours later my limit at 108.63 was reached.

    USD/JPY Extended 108.33gt;gt;gt;Limit 108.63 Strike = 30 pips

    Weekly Total = 30
    Thread Total = 189

  8. #8
    Short

    108.51gt;gt;Limit 108.21 SL 108.81 4 lots

  9. #9
    Half trade taken on the 21 EMA for short. It has been lingering for an hour or so.

  10. #10
    Limit hit

    USD/JPYgt;gt; extended 108.51 Limit 108.21 @ 4 lots =

    Weekly total = 60 pips
    Thread Total = 219 pips

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