Baruch's Forex System Journal

closed the usdchf at +/- 0, still short eurusd now -17
i was getting too nervous and overactive about the usd move. i have to keep cool, think before i make a move.

how are you doing baruch?

 

baruch,


I think 180 pages for a journal is possibly a record for elitetrader. I have never seen anything so popular.


I just wanted to ask you is the strategy as detailed here completely mechanical or is there some judgement involved and if so where. (Also if it is not completely mechanical do you think there are ways of mechanising any potentially subjective elements).



Thanks in advance.



peugeot

 

Hi rax,

Very fine, thanks. I LOVE to play the eco news. Maybe I should focus on that? I think the technicals is a little bit boring. And I will get a lot of time to go fishing.
I hope you end with some nice pips, but your trading style is not what I like. I don't like pain. I better like to be happy, so if I have a position which goes against me, I kill it. You can call me the cruel loss-killer. LOL.
P.S. I learned two things today: 1. You can't predict the numbers like Jimmy Young tried (he was right on consumer confidence, but wrong on production). They will always fool you. 2. It's not what the news are, that's important, it's how the market reacts to the news, that matters.

 

Euro on downdraft before 9:15 am number

totally forgot about the time of number

so instead of buying after the dip and number

I sold after the rebound started but

lower than my buy

lost 30 pips ( ticks )

 

What happened? I wrote into the quote...I hope you can read my answer.

 

Hi SethArb,

Sorry to hear that. Just follow the thread - and it will not happen again.

 

today i did not like it too.
room for improvement.

 

Hello Baruch,


Thanks for the reply. Yes i can undertsand it despite the computer glitch.


Baruch I was just thinking that in addition to your rules you could add another rule to capture long term profits. Your rules take care of the first 30 pips of profit (according to page 1 which is as far as I got ) but you can add a rule to ride longer trades as follows:-


After say 40 pips of profit lock in 40% of the maximal available profit available at any time.


Does that sound interesting or just a wild stab in the dark?



Just chipping in to your interesting efforts baruch.



peugeot

 

rax,

I know you are a winner. Nice to know you.