Baruch's Forex System Journal

Discussion in 'Journals' started by Baruch, Mar 11, 2004.

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  1. Welcome!
    I will trade my long-term trading system in EUR/USD and GBP/USD here.
    I wish I started a couple a days ago. Then I would sit on a 2+500 pips profit.

    The rules are very simple:
    1. Use a 30 min chart.
    2. Use RSI 50
    3. Use MA 50.
    4. Buy or sell the cross over of the MA 50.
    5. Use a 10 pips filter.
    6. Use MA 50 as your s/l.
    7. Use RSI 50 as a filter. Be carefull to buy if the RSI is over 55 - and be carefull to sell if the RSI is under 45. Depending on the market.
    8. When you have a 20 pips profit, you move s/l to breakeven.
    9. When you have a 30 pips profit, you move stop to 10 pips away from entry.
    10. After that you gives your position a free ride. Depending on the market.

    Let's see what happens now.
  2. The first two signals came sooner than expected:

    1. Bought EUR/USD at 1.2229, when it broke the cross. Flat again in 1.3000 with a nice 71 pips. Did'nt used the filter because this was a move caused by the terrorist attack in Madrid.
    2. Bought GBP/USD 1.7972. Out again in 1.8100 with a nice 28 pips profit.

    Now I am looking forward to todays US eco reports.
  3. Sorry:

    Long GBP/USD 1.8040. Flat: 1.8100. Profit: 60 pips.
  4. There was a new signal in GBP/USD, but I did'nt took the trade (sell) because the cross was not confirmed by the RSI 50.
  5. New buy signal in GBP/EUD, which I took without filter at 1.8025, because RSI was under 45. Took profit in 1.8055 for at nice 30 pips profit because of the coming US eco reports. I want to be flat when they arrives.
  6. Eugene



    Can yopu give us a background on broker you use and what software. Also, what are the spreads typically.

  7. I trade Globex forex futures. I don't like big spreads. With futures you can - sometimes - buy the bid and sell the ask with limit orders. I use the charts from Saxo Bank.
  8. A new buy signal in GBP/EUD: 1.8020 without filter (because of the eco numbers). Took profit in 1.8045: 25 nice pips.
  9. Eugene


    I know you don't like large spreads, neither do I, but what do you typically see with Globex, say for the Eur/USD...2 pip, 3 pip?

  10. 1-2 pips most of the time.
    #10     Mar 11, 2004
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