Baruch's Forex System Journal

I look at the charts. You know what going on if you follow the market - but, your right, not what will happen next. News can change the whole situation in a splitsecond.

 

Right now I am long in euro - with a nice 40 pips profit.

 

I am trying something new:

I also try to trade the system on a 60 min chart - should make more long-term trades (and more pips, I hope).

 

And more news:

It's a little bit boring to only trade your system, so I have spent some time testing trading the news. Wow! You get a lot of action - most of the time. And you learn why the markets moves. I like that.

I just traded the UK news - and took 39 pips out.

From now on I will also write about those news trades in my thread.

By the way: We have some important US numbers later today: Trade Balance and Import prices. 14,30 GMT.

 

Q
Baruch
Elite Member

Registered: Jun 2003
Posts: 1337

05-04-04 08:04 AM
Re: 100% Objective, Price Action Only System - Possible?

--------------------------------------------------------------------------------
Quote from TriPack:

Have you created a profitable, 100% objective system that is only based on price action - meaning no indicators? Such a system would consist of logic applied directly to price data.
--------------------------------------------------------------------------------

Yes.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=32116&perpage=6&pagenumber=3
UQ

 

Yes - you can trade my system without indicators if you like.

 

Baruch,
Once you are out of a trade because it hit your trailing stop, do you get back in as the bars turn around again or do you wait for the next crossover?

 

Well, that's a problem. Most of the time I wait for the next signal.

 

Similarly, if when you came to the computer and the price had already moved say 30-40 pips in the direction you would have traded, do you get in or wait till next signal?