Baruch's Forex System Journal

Baruch · May 26, 2004

Quote from LoosenUp:

Baruch,

You seem to have conveniently left out those trades which whipsaws around the M.A 50 on your system. Do you actually trade all of them and if not, what is your filter?

Thanks

Hi LoosenUp,

I don't trade the system if the market is flat or in a trading range, because I don't want those whipsaws. And I don't trade it before big eco reports.
But otherwise I take all the signals - if I am not sleeping or busy with other things.
My filter is 10 pips, if the MA is not steep.
My system is not perfect - I have never said that - but it's simple and catches all the big moves...

P.S. Do you trade a system?

Baruch · May 26, 2004

Quote from Baruch:

Hi LoosenUp,

I don't trade the system if the market is flat or in a trading range, because I don't want those whipsaws. And I don't trade it before big eco reports.
But otherwise I take all the signals - if I am not sleeping or busy with other things.
My filter is 10 pips, if the MA is not steep.
My system is not perfect - I have never said that - but it's simple and catches all the big moves...

P.S. Do you trade a system?

The biggest problem with my system is that it makes too few signals. It's boring to sit for days and waiting for a signal. So I will try trading it on a 15 min chart - but I will still also use a 30 min chart.

Baruch · May 26, 2004

Quote from Baruch:

The biggest problem with my system is that it makes too few signals. It's boring to sit for days and waiting for a signal. So I will try trading it on a 15 min chart - but I will still also use a 30 min chart.

There's not much difference between the two charts, but I will use the 15 min chart to get in earlier. And maybe I can use the difference between the MAs as a kind of trailing stop? I will test it.

I use momentum 50 in the 15 min chart, and ROC 50 in the 30 min chart. Both looks nice.

Baruch · May 26, 2004

Quote from Baruch:

Rainstorm (!) from Australia has made this system:

1. Use a 5 min chart

2. Trade GBP

3. Use 4, 9 and 18 EMA (in different colours)

4. Use parablolics (setting: default) as trailing stop

6. Or a stop 20 pips away

7. Take profit after 50 pips

8. Don't trade flat markets

------

You buy or sell the crosses. Very simple (I like that!). What do you think?

I have spend (only) 1 hour testing this system, but I am already tired of it. I don't like it. Too complicated! What do you mean?

Baruch · May 26, 2004

Euro-zone 9,00 GMT: Industrial New Orders.

US 12,30 GMT: Durable Goods Orders

US 14,00 GMT: New Home Sales.

US 14,30 GMT: Crude Oil Inventories.

---

I don't know about Euro orders, but I think a big surprise in US durable goods could move the market. Let's see what happens...

jbt · May 26, 2004

Quote from Baruch:

Rainstorm (!) from Australia has made this system:

1. Use a 5 min chart

2. Trade GBP

3. Use 4, 9 and 18 EMA (in different colours)

4. Use parablolics (setting: default) as trailing stop

6. Or a stop 20 pips away

7. Take profit after 50 pips

8. Don't trade flat markets

------

You buy or sell the crosses. Very simple (I like that!). What do you think?

Only one problem:
8. Don't trade flat markets

Predict a flat market for me and you have a winner.

Baruch · May 26, 2004

Quote from jbt:

Only one problem:
8. Don't trade flat markets

Predict a flat market for me and you have a winner.

Hi jbt,

LOL! I suppose the meaning is: If wma is flat - we have a flat market.

Kermit · May 26, 2004

Quote from Baruch:

And I don't trade it before big eco reports.

Hi Baruch,

Like you, I donât trade just before major reports. I am familiar with key US economic data release times, but where can I get a listing of comparable European reports and their times that can directly impact the EURO, GBP and the likes? Thanks.

Kermit

Baruch · May 26, 2004

Quote from Kermit:

Hi Baruch,

Like you, I donât trade just before major reports. I am familiar with key US economic data release times, but where can I get a listing of comparable European reports and their times that can directly impact the EURO, GBP and the likes? Thanks.

Kermit

Hi Kermit,

Try this:

www.forexnews.com

Baruch · May 26, 2004

Quote from globalfxllc:

We are looking to be short the EUR/USD around the 121.50 level.

market should be a bit jittery ahead of U.S durable good orders at 8:30am EST

Flagging a bit here so it should go a bit higher, look for it to take out todays highs and then be a good short.

Hi globalfxllc,

Welcome. We don't have many brokers in this thread. Are you short now?

P.S. Still trading the eco news?