10k GBP/USD B 1.9269 Limit 1.9390+ 121 10k USD/CHF S 1.1515 Exit 1.1484 +29 10k GBP/USD B 1.9048 Exit 1.9176 +128 10k USD/CHF S 1.1623 Limit 1.1474 +149 10k EUR/USD S 1.3412 Exit 1.3410 +2 10k USD/JPY B 104.25 Stop 103.90 -35 10k USD/CHF S 1.1585 Stop 1.1620 -35 10k USD/CHF S 1.1615 Exit 1.1557 +58 10k EUR/USD B 1.3207 Exit 1.3285 +78 10k EUR/USD B 1.3259 Exit 1.3350 +91 10k EUR/GBP S .6935 Stop .6960 -25 20K GBP/USD S 1.9335 Stop 1.9415 -160 10k GBP/USD S 1.9400 Limit 1.9300+100 20k USD/CHF B 1.1360 Exit 1.1370 +20 10k EUR/USD B 1.3460 Exit 1.3530 +70 10k EUR/USD B 1.3460 Exit 1.3461 +1* ___________________________________________ Starting Balance(assume one dollar for each pip): 2000 USD Closed Balance 2592 USD Open Trades 10k GBP/USD S 1.9400 Limit 1.8810 Stop 1.9350 *From the low, the MML 4/8ths price was on the exact high bar of the day. Like I said, that Murrey sure makes some fine lines!
Hi, I was keeping track of you before your vacation. Then currencies started trending big time against usd. I knew those using reversal system will be in trouble. I know three other people who trades like you, and all of them before month of October were doing great whole year. I suggest you can look at weekly chart and use cci or Daimyo plus your fibo bollinger to enter trade. I think you will do better. I know one person last year started a journal in ET 2003 september with $4000 and by july or august 2004 increased it to over $16,000 using weekly cci reversal system. Good luck.
manz, I appreciate your feedback, however my daily and weekly daimyo readings are just too vague to be tradeable(the lookback period is not long enough on my tradestation)...not to mention now that I use stops, the losing trades would be rather substantial. you are referring to random trader who turned 4k into 16000k, yes, he gave me the original inspiration to trade currencies like this. but I have added a few more filters to improve my entries and exits. Also, now I use stops and I will use stops on all new positions in order to make up for my losses you refer to. You probably didn't see the posts recently in which my system averages about 50 pips a trade and is 70% profitable for the last month. Point being, December was trendy, not as much as November, but still relatively trendy. My system works in trending markets, I just have to trade smaller time frames to exploit the reversals. I have found 60 minute bars to be the most suitable for my style. You probably also missed the posts in which I have developed a trailing stop method to capitalize on those positions which far exceed my reversal targets and can be classified as a "trending market." But, yes, you are right, trading reversals wasn't very profitable for two months this year. Good thing there are 10 months from the past year that were profitable. It's too bad I wasn't using stops during those two months or my trailing stop method or else I wouldn't be sitting on such a large drawdown. In fact i would have grabbed about 600 pips per pair in November if I was using my trailing stop methodology. Anyways, I am really excited about 2005, I think my method will prove successful for many years in to the future.
10k GBP/USD B 1.9269 Limit 1.9390+ 121 10k USD/CHF S 1.1515 Exit 1.1484 +29 10k GBP/USD B 1.9048 Exit 1.9176 +128 10k USD/CHF S 1.1623 Limit 1.1474 +149 10k EUR/USD S 1.3412 Exit 1.3410 +2 10k USD/JPY B 104.25 Stop 103.90 -35 10k USD/CHF S 1.1585 Stop 1.1620 -35 10k USD/CHF S 1.1615 Exit 1.1557 +58 10k EUR/USD B 1.3207 Exit 1.3285 +78 10k EUR/USD B 1.3259 Exit 1.3350 +91 10k EUR/GBP S .6935 Stop .6960 -25 20K GBP/USD S 1.9335 Stop 1.9415 -160 10k GBP/USD S 1.9400 Limit 1.9300+100 20k USD/CHF B 1.1360 Exit 1.1370 +20 10k EUR/USD B 1.3460 Exit 1.3530 +70 10k EUR/USD B 1.3460 Exit 1.3461 +1 10k EUR/JPY B 138.35 Exit 138.65 +30* ___________________________________________ Starting Balance(assume one dollar for each pip): 2000 USD Closed Balance 2622 USD Open Trades 10k GBP/USD S 1.9400 Limit 1.8810 Stop 1.9350 10k EUR/JPY B 138.35 Limit 143 Stop 138 *really terrible entry, so I took minor profits to minimize my risk. 4/8th MML was nearly grazed by two ticks but then sharply reversed. With the dollar in rebound mode EUR/JPY will be the "sour grapes" proxy trade for those who refuse to buy dollars.
10k GBP/USD B 1.9269 Limit 1.9390+ 121 10k USD/CHF S 1.1515 Exit 1.1484 +29 10k GBP/USD B 1.9048 Exit 1.9176 +128 10k USD/CHF S 1.1623 Limit 1.1474 +149 10k EUR/USD S 1.3412 Exit 1.3410 +2 10k USD/JPY B 104.25 Stop 103.90 -35 10k USD/CHF S 1.1585 Stop 1.1620 -35 10k USD/CHF S 1.1615 Exit 1.1557 +58 10k EUR/USD B 1.3207 Exit 1.3285 +78 10k EUR/USD B 1.3259 Exit 1.3350 +91 10k EUR/GBP S .6935 Stop .6960 -25 20K GBP/USD S 1.9335 Stop 1.9415 -160 10k GBP/USD S 1.9400 Limit 1.9300+100 20k USD/CHF B 1.1360 Exit 1.1370 +20 10k EUR/USD B 1.3460 Exit 1.3530 +70 10k EUR/USD B 1.3460 Exit 1.3461 +1 10k EUR/JPY B 138.35 Exit 138.65 +30 10k GBP/USD S 1.9400 Exit 1.8820 +590 ___________________________________________ Starting Balance(assume one dollar for each pip): 2000 USD Closed Balance 3202 USD Open Trades 10k EUR/JPY B 138.35 Limit 143 Stop 138
anyway i am on new computer and forgot how to load the daimyo indicator..into CMS..anyone want to post a link..thanks a link for that CCI Reversal Indicator..will check around..still I think Murrey math levels are crucial
20k GBP/USD B 1.8830 Limit 1.9030 Stop 1.8666 MML 0/8th was hit 12 hours ago(1.8798) but was waiting for the daimyo to crossover...
10k GBP/USD B 1.9269 Limit 1.9390+ 121 10k USD/CHF S 1.1515 Exit 1.1484 +29 10k GBP/USD B 1.9048 Exit 1.9176 +128 10k USD/CHF S 1.1623 Limit 1.1474 +149 10k EUR/USD S 1.3412 Exit 1.3410 +2 10k USD/JPY B 104.25 Stop 103.90 -35 10k USD/CHF S 1.1585 Stop 1.1620 -35 10k USD/CHF S 1.1615 Exit 1.1557 +58 10k EUR/USD B 1.3207 Exit 1.3285 +78 10k EUR/USD B 1.3259 Exit 1.3350 +91 10k EUR/GBP S .6935 Stop .6960 -25 20K GBP/USD S 1.9335 Stop 1.9415 -160 10k GBP/USD S 1.9400 Limit 1.9300+100 20k USD/CHF B 1.1360 Exit 1.1370 +20 10k EUR/USD B 1.3460 Exit 1.3530 +70 10k EUR/USD B 1.3460 Exit 1.3461 +1 10k EUR/JPY B 138.35 Exit 138.65 +30 10k GBP/USD S 1.9400 Exit 1.8820 +590 10kEUR/JPY B 138.35 Stop 138 -35 ___________________________________________ Starting Balance(assume one dollar for each pip): 2000 USD Closed Balance 3167 USD