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Researching My Morning & Evening Forex Signal Service - NEW !

Discussion in 'Forex Trading Systems and Strategies' started by NIL5605, Mar 15, 2010.

  1. NIL5605

    NIL5605 Recruit

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    Hi all
    I've tried out a lot of signal providers over the last year, (fx-daytrader, midnightforex, top-forex-signal, pipslayers, fx-swingcapital, truefx, signalator, forexcharlie, grandpa, smartforexsignal, mrgreen, bankflowdata, lstrader, fx-swingtraders ....... to name but a few!) & reviewed some on other forums.

    My aim has been to find a service that fitted around my full-time job, eg, 6am-8am & 6pm-8pm, (UK), & whilst I've had successes & failures with the services I've looked into, nothing has really worked in terms of my schedule.

    So using the ideas I've learned, I've decided to start researching my own system, trading the GBPUSD, EURJPY, EURUSD & GBPJPY, between 6am-8am & 6pm-8pm, (UK), Monday - Thursday. Trading 1 lot, I'm using 25pip SL & 25pip TP on all the trades I enter & using 5 min trading charts

    w/b 1st March 2010 was a good start with 200 pips gained across all 4 currency pairs over Monday - Thursday. Details are on the next post.

    I will keep you updated daily as to my progress

    Here's to successful pipping !

    Eleri
     
    #1 NIL5605, Mar 15, 2010
    Last edited: Mar 15, 2010
  2. NIL5605

    NIL5605 Recruit

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    Trading w/b 1st March 2010

    Hi all

    Here are my trades for the 1st week of March 2010 - apologies in that I did not keep records of the entry levels, only the times of the trades, (lesson learned !).

    Reminder : 25 pip SL & TP levels.

    1.
    GBP/USD : 6am-8am

    Mon 1st March 2010 : 6.35am & 25 pip profit gained.
    Tue 2nd March 2010 : 6.35am & 25 pip profit gained.
    Wed 3rd March 2010 : No trade signal.
    Thur 4th March 2010 : 6.20am & 25 pip profit gained.
    TOTAL = 75 PIPS

    GBP/USD : 6pm-8pm
    No evening trade signals triggered during the week.

    2.
    EUR/USD : 6am-8am

    Mon 1st March 2010 : No trade signal.
    Tue 2nd March 2010 : No trade signal.
    Wed 3rd March 2010 : 6.45am & 25 pip profit gained.
    Thur 4th March 2010 : 6.10am & 25 pip profit gained.
    TOTAL = 50 PIPS

    EUR/USD : 6pm-8pm
    No evening trade signals triggered during the week.

    3.
    EUR/JPY : 6am-8am

    Mon 1st March 2010 : 7.25am & 25 pip profit gained.
    Tue 2nd March 2010 : 6.15am & 25 pip loss
    Wed 3rd March 2010 : 7.30am & 25 pip profit gained.
    Thur 4th March 2010 : 6.10am & 25 pip profit gained.
    TOTAL = 50 PIPS

    EUR/JPY : 6pm-8pm
    No evening trade signals triggered during the week.

    4.
    GBP/JPY : 6am-8am

    Mon 1st March 2010 : 6.15am & 6.40am - both a 25 pip loss
    Tue 2nd March 2010 : No trade signal.
    Wed 3rd March 2010 : 6.05am & 25 pip profit.
    Thur 4th March 2010 : 7.55am & 25 pip profit.
    TOTAL = 0 PIPS

    GBP/JPY : 6pm - 8pm
    Tue 2nd March 2010 : 6.20pm & 25 pip profit.
    TOTAL = 25 PIPS

    WEEK 1 TOTAL = 200 PIPS - 11 trade wins & 3 trade losses

    NB :
    Out of interest, I've also reviewed all these trades with a 20 pip TP & 30 pip SL. This would have resulted in a 130 pip profit for the week.

    Eleri
     
  3. NIL5605

    NIL5605 Recruit

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    Trading : Monday 8th March 2010

    Hi all

    The trades for Monday 8th March 2010, (with 25 pip SL & TP levels), were as follows :

    1.
    GBP/USD : 6am-8am

    Mon 8th March 2010 : 7.00am
    LONG : Entry 1.5166; SL 1.5141; TP 1.5191
    25 pip profit gained.

    GBP/USD : 6pm-8pm
    No evening trade signals triggered today.

    2.
    EUR/USD : 6am-8am

    Mon 8th March 2010 : 6.35am
    LONG : Entry 1.3680; SL 1.3655; TP 1.3705
    25 pip loss, (trade retraced after gaining approx 22 pips)

    EUR/USD : 6pm-8pm
    No evening trade signals triggered today.

    3.
    EUR/JPY : 6am-8am

    Mon 8th March 2010 : 7.00am
    LONG : Entry 123.68; SL 123.43; TP 123.93
    25 pip loss, (trade retraced after gaining approx 21 pips)

    EUR/JPY : 6pm-8pm
    No evening trade signals triggered today.

    4.
    GBP/JPY : 6am-8am

    Mon 8th March 2010 6.25am
    SHORT : Entry 137.02; SL 137.27; TP 136.77
    25 pip loss, (trade retraced after gaining approx 22 pips)
    7.00am LONG : Entry 137.11; SL 136.86; TP 137.36
    25 pip loss, (trade retraced after gaining approx 23 pips)
    7.55am SHORT : Entry 137.14; SL 137.39; TP 136.89
    25 pip profit gained

    GBP/JPY : 6pm-8pm
    No even trade signals triggered today

    TOTAL = 50 PIPS LOSS TODAY

    Not the best start to the week !

    NB :
    I've reviewed all these trades with an alternate 20 pip TP & 30 pip SL, & interestingly all would have been successful, resulting in 120 pips of profit for the day - 6 successful trades & no losses ! Something to bear in mind maybe ?

    Eleri
     
  4. NIL5605

    NIL5605 Recruit

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    Trading : Tuesday 9th March 2010

    Hi all

    Trading for Tuesday 9th March 2010, (with 25 pip SL & TP levels), was as follows :

    1.
    GBP/USD : 6am-8am

    Tue 9th March 2010 : 8.00am
    LONG : Entry 1.5005; SL 1.4980; TP 1.5030
    25 pip loss, (trade retraced after gaining approx 22 pips)

    GBP/USD : 6pm-8pm
    Tue 9th March 2010 : 6.10pm
    LONG : Entry 1.5009; SL 1.4984; TP 1.5034
    25 pip loss

    2.
    EUR/USD : 6am-8am

    Tue 9th March 2010 : 7.40am
    LONG : Entry 1.3616; SL 1.3591; TP 1.3641
    25 pip loss

    EUR/USD : 6pm-8pm
    No evening trade signals triggered today.

    3.
    EUR/JPY : 6am-8am

    Tue 9th March 2010 : 6.40am
    SHORT : Entry 122.42; SL 122.67; TP 122.17
    25 pip loss, (trade retraced after gaining approx 22 pips)

    EUR/JPY : 6pm-8pm
    No evening trade signals triggered today.

    4.
    GBP/JPY : 6am-8am

    Tue 9th March 2010 6.40am
    SHORT : Entry 135.01; SL 135.26; TP 134.76
    (This trade could have gained up to 40 pips before retracing at 7.05am)
    25 pip profit gained.
    8.00am LONG : Entry 135.01; SL 134.76; TP 135.26
    25 pip profit gained.
    (This trade could have gained up to 30 pips before retracing).

    GBP/JPY : 6pm-8pm
    No even trade signals triggered today

    TOTAL = ANOTHER 50 PIPS LOSS TODAY
    TOTAL SO FAR THIS WEEK = 100 PIP LOSS


    NB :
    I've reviewed all of these trades with an alternate 20 pip TP & 30 pip SL, & 4 out of the 6 trades would have been successful, with an overall 20 pips of profit for the day & a total so far for the week of 140 pips.

    Eleri
     
  5. NIL5605

    NIL5605 Recruit

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    Trading : Wednesday 10th March 2010

    Hi all

    Trades for Wednesday 10th March 2010, (with 25 pip SL & TP levels), were as follows :

    1.
    GBP/USD : 6am-8am

    Wed 10th March 2010 : 6.30am
    SHORT : Entry 1.4968; SL 1.4993; TP 1.4943
    25 pip profit gained.
    (This trade could have gained up to 80 pips by 8am this morning !)

    GBP/USD : 6pm-8pm
    No evening trade signals triggered today.

    2.
    EUR/USD : 6am-8am

    No morning trade signals triggered today.

    EUR/USD : 6pm-8pm
    No evening trade signals triggered today.

    3.
    EUR/JPY

    No morning trade signals triggered today.

    EUR/JPY : 6pm-8pm
    No evening trade signals triggered today.

    4.
    GBP/JPY : 6am-8am

    Wed 10th March 2010 : 7.00am
    SHORT : Entry 1.3456; SL 1.3481; TP 1.3431
    25 pip profit gained.
    (This trade could have gained up to 60 pips by 8am this morning !)

    GBP/JPY : 6pm-8pm
    No evening trade signals triggered today.

    TOTAL SO FAR TODAY = 50 PIPS PROFIT
    TOTAL SO FAR THIS WEEK = 50 PIPS LOSS
    RUNNING TOTAL SINCE 1ST MARCH = 150 PIP PROFIT FOR THE MONTH


    NB :
    I've reviewed these two trades with an alternate 20 pip TP & 30 pip SL, & obviously both would have been successful, with an overall 40 pips of profit for the day. Therefore bringing the total so far for the week to 180 pips, & a running profit for the month of March of 310 pips. Interesting !

    Eleri
     
  6. NIL5605

    NIL5605 Recruit

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    Trading : Thursday 11th March 2010

    Hi all

    Trades for Thursday 11th March 2010 (with 25 pip SL & TP levels), were as follows :

    1.
    GBP/USD : 6am-8am

    Thursday 11th March 2010 : 7.30am
    LONG : Entry 1.4969; SL 1.4944; TP 1.4994
    25 pip profit, (if this trade had been left to run it would have gained a total of 96 pips by 11.05am !)

    GBP/USD : 6pm-8pm
    No evening trade signals triggered today.

    2.
    EUR/USD : 6am-8am

    Thursday 11th March 2010 : 6.25am
    SHORT : Entry 1.3641; SL 1.3666; TP 1.3615
    25 pip loss, (trade retraced after gaining approx 21 pips)

    EUR/USD : 6pm-8pm
    No evening trade signals triggered today.

    EUR/JPY : 6am-6pm
    Thursday 11th March 2010 : 6.55am
    LONG : Entry 1.2334; SL 1.2309; TP 1.2359
    25 pip loss, (trade retraced to profit after a 30 pip loss)

    EUR/JPY : 6pm-8pm
    No evening trade signals triggered today.

    4.
    GBP/JPY : 6am-8am

    Thur 11th March 2010 : 7.30am
    SHORT : Entry 1.3510; SL 1.3535; TP 1.3485
    25 pip loss

    GBP/JPY : 6pm-8pm
    No evening trade signals triggered today.

    TOTAL TODAY = 50 PIPS LOSS
    TOTAL THIS WEEK = 100 PIPS LOSS
    RUNNING TOTAL SINCE 1ST MARCH = 100 PIP PROFIT FOR TWO WEEKS


    NB :
    I've reviewed these trades with an alternate 20 pip TP & 30 pip SL, & 2 out of the 4 morning trades would have been successful, with an overall 20 pips loss for the day. Therefore bringing the total profit for this week to 160 pips, & a running total of 290 pips profit, for the first two weeks of March.

    Eleri
     
  7. NIL5605

    NIL5605 Recruit

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    Analysis of 2 weeks trading

    Hi all

    I've been taking a look at the performance of each of the 4 currencies, since 1st March, so I'm now able to review a full 2 weeks of my system :

    Trading using 25pip SL & TP :
    GBP/USD = 100 pips profit (6 wins & 2 losses)
    EUR/USD = 25 pips loss (2 wins & 3 losses)
    EUR/JPY = 25 loss (3 wins & 4 losses)
    GBP/JPY = 50 pips profit (7 wins & 5 losses)
    TOTAL NUMBER OF TRADES = 32
    WINS = 18
    LOSSES = 14

    SUMMARY :
    WEEK 1 - 200 PIPS PROFIT
    WEEK 2 - 100 PIPS LOSS


    TOTAL of 100 pips over 8 trading days, averaging 50 pips profit per week ...................... week 2 results have really hit the successes here !

    Trading using 30pip SL & 20pip TP :
    GBP/USD = 110 pips profit (7 wins & 1 loss)
    EUR/USD = 50 pips profit (4 wins & 1 loss)
    EUR/JPY = 40 pips profit (5 wins & 2 losses)
    GBP/JPY = 90 pips profit (9 wins & 3 losses)
    TOTAL NUMBER OF TRADES = 32
    WINS = 25
    LOSSES = 7

    SUMMARY :
    WEEK 1 - 130 PIPS PROFIT
    WEEK 2 - 160 PIPS PROFIT


    TOTAL of 290 pips over 8 trading days, averaging just over 35 pips profit per day.

    Trading the signals with the 30pip SL & 20pip TP is the more successful at the moment .................. but as I keep saying it's early days !

    Eleri
     
  8. NIL5605

    NIL5605 Recruit

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    Trading Fridays

    Hi all

    Although I don't trade on Friday's, I reviewed the potential signals that could have been taken on Friday 12th March, using both sets of stop losses & trade profits.

    6am-8am : 25 pip SL & TP
    For each currency pair, 2 trade signals per pair - a profit & a loss. Therefore a breakeven session.

    6pm-8pm : 25 pip SL & TP
    No evening trade signals triggered today.

    6am-8am : 30 pip SL & 20 pip TP
    Again for each currency pair, 2 trade signals per pair, & overall 6 profits & 2 losses = 60 pips profit for the session.

    6pm-8pm : 30 pip SL & 20 pip TP
    No evening trade signals triggered today.

    I won't be including these figures in my trial stats, it's just a bit of research out of interest - particularly for the 30 pip SL & 20 pip TP combination.

    Eleri
     
  9. NIL5605

    NIL5605 Recruit

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    Trading : Monday 15th March 2010

    Hi all

    Today's trades, (with 25 pip SL & TP levels), were as follows :

    1.
    GBP/USD : 6am-8am

    Monday 15th March 2010 : 6.10am
    SHORT : Entry 1.5156; SL 1.5181; TP 1.5131
    25 pip loss, (although the overall trend today was short, with over 100 pips to be enjoyed !)
    6.50am LONG : Entry 1.15171; SL 1.5146; TP 1.5196
    25 pip profit.

    GBP/USD : 6pm-8pm
    No evening trade signals triggered today.

    2.
    EUR/USD : 6am-8am

    Monday 15th March 2010 2010 : 6.50am
    LONG : Entry 1.3742; SL 1.3717; TP 1.3767
    25 pip loss
    7.40am SHORT : Entry : 1.3741; SL 1.3766; TP 1.3716
    25 pip profit, (the overall trend today was short, with over 100 pips to be enjoyed !)

    EUR/USD : 6pm-8pm
    No evening trade signals triggered today.

    3.
    EUR/JPY

    No morning trade signals triggered today.

    EUR/JPY : 6pm-8pm
    No evening trade signals triggered today.

    4.
    GBP/JPY : 6am-8am

    Monday 15th March 2010 : 6.50am
    LONG : Entry 1.3753; SL 1.3728; TP 1.3778
    25 pip profit, (this trade could have gained up to 42 pips before retracing).

    GBP/JPY : 6pm-8pm
    No evening trade signals triggered today.

    TOTAL TODAY = 25 PIP PROFIT
    RUNNING TOTAL SINCE 1ST MARCH = 125 PIP PROFIT FOR 9 DAYS TRADING


    NB :
    I've reviewed these trades with an alternate 20 pip TP & 30 pip SL. As per the trades above, 3 out of the 5 morning trades would have been successful = breakeven. Therefore the running total remains at 290 pips profit, for the first 9 days trading for March.

    Eleri
     

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