Baruch's Forex System Journal

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Quote from SethArb:

wrong in using such a small EMA ... it looks like it can work

but only if I hit the sweet spot !
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Hi SethArb,

OK, but we would love to hear the details. How made pips did you make?
 
After buy signals we are long:

EUR/USD: 1.2220 (FX). Stop: 1.2230

GBP/USD: 1.787 (FX). Stop: 1.837

We are also trying a new one:

Swiss FrancH: 7825 (june future). Stop: 7825.
 
Scalping:
Can be very profitable, when the market is in a trading range. Try Slow Stock 55,1,1 - sell the tops and buy the lows. Use 10 pips stops, because you need to be out, if there is a break out from the trading range.
 
Quote from Jayford:

Just the opposite. If you have a 15 pip risk, and average 50 pips on your gains, you don't have to be very accurate (ie high winning %).

You do have to be accurate as far as picking the correct spot if that is what you mean. I think that's always the case unless your stops are way out there. When I place trades its usually at obvious supp/resis, so ya know pretty quick if its going to work.

My original statement on accuracy was aimed at scalping. Since scalping wins are so small, and you are fighting the spread, you must have a very high winning % to make any money. I've done it both ways, and personally, I think scalping is much harder.

Sitting on your butt waiting for a trade can be tough also however.

Jay
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Hi Jay,

OK, but do you also trade the news?
 
Quote from Baruch:

After buy signals we are long:

EUR/USD: 1.2220 (FX). Stop: 1.2230

GBP/USD: 1.787 (FX). Stop: 1.837

We are also trying a new one:

Swiss FrancH: 7825 (june future). Stop: 7825.
More...

RSI on GBP/USD now more than 60. Moved stop to 1.8047 (entry was 1.7987) to lock-in more pips. Moved stop on EUR/USD to 1.2235. Moved stop on SF to 7827 to cover commission, if stopped out.
 
Quote from Baruch:

RSI on GBP/USD now more than 60. Moved stop to 1.8047 (entry was 1.7987) to lock-in more pips. Moved stop on EUR/USD to 1.2235. Moved stop on SF to 7827 to cover commission, if stopped out.
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Moved stop on SF to 7835.
 
Quote from Baruch:

RSI on GBP/USD now more than 60. Moved stop to 1.8047 (entry was 1.7987) to lock-in more pips. Moved stop on EUR/USD to 1.2235. Moved stop on SF to 7827 to cover commission, if stopped out.
More...

Time to lock-in more pips:

Moved stop on EUR/USD to 1.2245.

Moved stop on GBP/USD to 1.8052.
 
Quote from Baruch:

Time to lock-in more pips:

Moved stop on EUR/USD to 1.2245.

Moved stop on GBP/USD to 1.8052.
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Very strange. GBP is moving north, but not RSI. We moves stop to 1.8067.
 
Quote from Baruch:

Very strange. GBP is moving north, but not RSI. We moves stop to 1.8067.
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Still no movement in RSI. We moves stop to 1.8077. We are now 90 pips away from entry.
 
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