AshFX Daily
I'm still long on Eur/Jpy from the 5th of June. It looks as if the AO will be exhausted today and close as red, at which point I'm exiting.
A cool few hundred pips collected there...
For those of you who were short on Eur/Aud from last night, then you might like to close half your positions for a profit now, i.e. before market close, and move stop to break even.
Guys, upon market opening, I shall be shorting GBP/USD.
SL is at swing high, i.e. 2.0005
Even though our 1st TP is just 25 pips, our 2nd TP will hopefully give us more pips once AO closes as green in a few days time.
Ok, obviously we hit our first TP of 25 pips very easily, and stop was moved to BE.
Our second lot stands at around 145 pips.
Now, the question is, do we
a) move SL further down to protect our profits?
b) close our position now?
c) just let the system do it's thing with AO?
I know many of you must be thinking it's a good time to close now, or good time to move stop further down, because I know people use my system for entries, yet prefer their own exits, and that's totally fine, it's your trade, and your right to do what you like.
However, for those of you who wanna follow AshFX Daily to the letter, then officially we wait till the AO closes as green.
Yes, it could be that this retraces back up horriby, and we just close for 25 pips profit, but that's the nature of trading.
Ok, obviously we hit our first TP of 25 pips very easily, and stop was moved to BE.
Our second lot stands at around 145 pips.
Now, the question is, do we
a) move SL further down to protect our profits?
b) close our position now?
c) just let the system do it's thing with AO?
I know many of you must be thinking it's a good time to close now, or good time to move stop further down, because I know people use my system for entries, yet prefer their own exits, and that's totally fine, it's your trade, and your right to do what you like.
However, for those of you who wanna follow AshFX Daily to the letter, then officially we wait till the AO closes as green.
Yes, it could be that this retraces back up horriby, and we just close for 25 pips profit, but that's the nature of trading.
Guys the market has been ranging horribly for the past few days especially on the 4 majors. On these types of conditions it is best to stay out. Can't lose pips if you don't enter.
Ash must have a magic formula to keep out of ranging marketsOILFXPRO
Yeah I wish lol. That way I'd never have any losing trades.
Anyway, when a pair is going up and down every other day, that obviously indicates ranging... it's not too hard to notice to be honest dude.
I'm still short on this. I could exit now, because Stochs have crossed up and AC is green, but I don't have a valid PA reason to, hence I'm sticking to the rules and will exit once AO closes as green.
Hi ash do you have any backtesting done on this system in metatrader? can you email me the results at neshdra@yahoo.com?
thanks
Yep, did plenty of backtesting whilst devising the system, which is why I know the system works. I didn't however note down every trade / result. More like eye-balled it, paying close attention to key Support and Resistance points as well.
What you need to do is forward test the system yourself in demo, then see if it's proving profitable for you.
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Dear all,
Here I present to you my new System, AshFX Daily. It's excellent for traders who work a full-time job, and/or can't/don't want to spend hours and hours staring at the screen.
I’ve been working on this system for quite a while; I wanted to make it accurate, yet simple at the same time. I believe I have achieved that. It is designed for the Daily Timeframe, and can be used on any currency pair.
The results that can be obtained from this system, is literally hundreds of pips a month. On average, the reward is greater than the risk.
These are the indicators that are required:
- Parabolic Stop and Reverse (PSAR, 0.03, 0.2)
- AC (Accelerator Oscillator)
- AO (Awesome Oscillator)
- Stochastics (5,3,3)
Take the attached template and apply it in Metatrader. Use it on the Daily Timeframe (D1), on any currency pair. By the way, these indicators can be found in any platform, so you are not limited to MT4.
See below for an example of what you should be seeing:
Two files attached - the actual AshFX System PDF manual, and the template for MT4 users. Please read carefully.
Look forward to questions/analysis/discussion/testing.
Regards,
Ash