Baruch's Forex System Journal

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Baruch

Welcome!
I will trade my long-term trading system in EUR/USD and GBP/USD here.
I wish I started a couple a days ago. Then I would sit on a 2+500 pips profit.

The rules are very simple:
1. Use a 30 min chart.
2. Use RSI 50
3. Use MA 50.
4. Buy or sell the cross over of the MA 50.
5. Use a 10 pips filter.
6. Use MA 50 as your s/l.
7. Use RSI 50 as a filter. Be carefull to buy if the RSI is over 55 - and be carefull to sell if the RSI is under 45. Depending on the market.
8. When you have a 20 pips profit, you move s/l to breakeven.
9. When you have a 30 pips profit, you move stop to 10 pips away from entry.
10. After that you gives your position a free ride. Depending on the market.

Let's see what happens now.
 
The first two signals came sooner than expected:

1. Bought EUR/USD at 1.2229, when it broke the cross. Flat again in 1.3000 with a nice 71 pips. Did'nt used the filter because this was a move caused by the terrorist attack in Madrid.
2. Bought GBP/USD 1.7972. Out again in 1.8100 with a nice 28 pips profit.

Now I am looking forward to todays US eco reports.
 
There was a new signal in GBP/USD, but I did'nt took the trade (sell) because the cross was not confirmed by the RSI 50.
 
New buy signal in GBP/EUD, which I took without filter at 1.8025, because RSI was under 45. Took profit in 1.8055 for at nice 30 pips profit because of the coming US eco reports. I want to be flat when they arrives.
 
Baruch,

Can yopu give us a background on broker you use and what software. Also, what are the spreads typically.

Thanks
 
I trade Globex forex futures. I don't like big spreads. With futures you can - sometimes - buy the bid and sell the ask with limit orders. I use the charts from Saxo Bank.
 
A new buy signal in GBP/EUD: 1.8020 without filter (because of the eco numbers). Took profit in 1.8045: 25 nice pips.
 
I know you don't like large spreads, neither do I, but what do you typically see with Globex, say for the Eur/USD...2 pip, 3 pip?

Thanks
 
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