No Name Trading System - page 4
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Thanks for sharing. Good points in your sharing about trading.
Thanks for sharing.
Jufly and Bossxero, my pleasure. Please let me know if you have any questions. Cheers,
Phew, what a rush...things been very hectic lately with the site launch, trading, holiday season and all.
At any rate, here is a quick update of trades performed since last post. All trades on EURUSD
Date: 11-24-2010
Position:Short
Trade Setup:Slow retracement
Entry Price: 1.33285 and 1.33485
Profit Target: 1.32377
Stop-loss: 1.33685
Exit Price:1.33685
Profit: -60 pips
Date: 12-20-2010
Position:Short
Trade Setup:Fresh Cross
Entry Price: 1.31241
Profit Target: 1.30400
Stop-loss: 1.31550
Exit Price:1.31204
Profit: 3.7 pips
Date: 12-20-2010
Position:Short
Trade Setup:Slow retracement
Entry Price: 1.31146, 1.31346, 1.31546
Profit Target: 1.30400
Stop-loss: 1.31702
Exit Price:1.31702
Profit: -107 pips
Did not listen to the market on this trade and exit positions early when upside down triangle was forming.
Date: 12-28-2010
Position:Long
Trade Setup:Fresh cross (4Hr)
Entry Price: 1.31698
Profit Target: 1.32300
Stop-loss: 1.31944
Exit Price:1.32300
Profit: 60.2 pips
I had a feeling that a fast retracement was setting up on the daily chart today because the over all trend was bearish and the triggerlines were nicely crossed to the downside but was not near computer when market reversed to take opposite direction.
Market right now is resting at 4Hr support at 1.31129...let us see if this will hold.
Market will likely retest support between 1.29931 and 1.29673...we shall see. Remember, always trade on facts and not anticipation.
You can confirm all trades listed above in my MTI statement.
Happy holidays and trading for all.
Cheers,
Pip
First trade of the year
Date: 1-4-2011
Position:Short
Trade Type: Counter trend (Daily)
Trade Setup:Fresh cross (4Hr), Slow retracement (1Hr)
Entry Price: 1.32983 & 1.33193
Profit Target: 1.32330
Stop-loss: 1.33300
Exit Price:1.32330
Profit: 65.3 & 86.3 Pips
O.K. here is the out come of the trade I took today
Date: 1-7-2011
Position:Short
Trade Setup:Slow retracement (4Hr), break-out (1Hr)
Entry Price: 1.29354
Profit Target: 1.28540
Stop-loss: 1.29840
Exit Price:1.29283
Profit: 7.1 pips
I manually closed the trade.
Frankly, I should have not entered the trade. I completely forgot today was Friday (don't know what I was thinking)! Plus price has one more support level on the 4Hr chart (where price is resting at now).
I will re-evaluate on Monday. What I am looking for is for price to break 4Hr support at around 1.29210, then move down a bit and retrace close to that same resistance level 1.29210 before entering (assuming the level still holds next week). It would be a trend continuation trade with a fast retracement setup.
I will post Sun/Mon lines when they are generated for all. Soon you will be able to plot your own lines on your machine.
Happy weekend.
Cheers,
If you are interested in testing incorporating Price Master Pro in your strategy, I will be providing free projections in this thread
https://www.mql5.com/en/forum/198963
To your success