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- Day 5 London Open Breakout Winning Action
European currencies are continuously weighing down by the poor economic data. This morning, we briefly saw the sterling pound and euro at their lows - trading at around the 1.4800 and 1.2400 levels minutes before the London opening.Despite that, I recommended to enter the Euro markets with the buying (long) setups.
Here are the obtained results for today (on day 5):
Long EUR/USD 1.2472 with stop at 1.2412. Final profits: +40 & 27 pips
Long EUR/JPY 119.83 with stop at 119.23. Final Profits: +40 & 13 pips
Typical Live Metatrader results:
Cumulative Results +351 Pips (click here to view the system performance page)
Meanwhile, my other two systems, 100-pip and newstrader programs have been very quiet lately. I am glad to still be able to find some profitable setups.
Переслать - Making Fast Pips via Newstrader: GBP Job Report
More bad news for the sterling pound. We're getting closer to the 1.50 level.- U.K. Pound Falls Against Dollar, Euro as Jobless Claims Jump
- Bank of England Signals Rate Cuts Needed as Economy Contracts
Переслать - 100-pip EA Made Triple-Digits Gains
The 100-pip EA Program (available to ScoutForex DTS subscribers) was on form today and had produced over +200 pips during the US trading session. A great start to this week trading!
Here are the two profitable 100-trades:
Short EUR/USD @ 1.2890 for +40 & 90 pips
Short GBP/USD @ 1.5732 for +40 & 59 pips
Переслать - A Rough Week for News Trading
I was running into some bad trades with the news trading program. The EA was well beaten by two different news events controlled by the European central bankers, i.e. MPC interest rate-cut announcement and ECB press conference on Thursday. Actually, I was not that surprised by the trading outcomes considering the price volatility seen in the forex markets at present.
I'm still confident with the newstrader system which so far enjoys a high success win-rate trading the GBP & USD events. But I was having doubt dealing with the USD/CAD market. Anyway, I am going to improve the program trigger in order to be more aggressive with the entry level in the CAD market with faster trade execution. I've already run some backtests and liked what I see. I'm not afraid to make changes when necessary.Monday
GBP +28 pips full size
Tuesday
No trade
Wednesday
AUD -35 pips, GBP -35 pips
Thursday
AUD + 19.5 pips,
GBP +23.5 pips
GBP -35 pips (MPC 1.5% Rate Cut)
EUR -35 pips (ECB Press Conference)
CAD -16.5 pips
Friday
CAD -35 pips
GBP +3 pips (US Non-farm Payrolls Job report)Переслать - London Open Breakout System - Day 3 & Program Launch
Results on day 3 (Nov 5):
Long EUR/USD 1.2879 with stop at 1.2819. Final profits: +40 & 72 pips
No trade EUR/JPY
Live results:
Cumulative Results +351 Pips
>> Click here to view the System Performance pageПереслать - Increase My Trading Arsenal Using the Newstrader EA Program
Normally, I only run my Newstrader EA program for the purpose of news trading:There are hundreds of economic news releases every month in the forex market. Many of the major announcements are capable of moving the underlying currency pairs by 30 to 100 pips immediately after the news releases. In other cases, market also tends to move ahead of the news.
Today, I did something differently. I applied the program (i.e. set and forget operation) to automatically search for other possible trading opportunities during today's "active" London session. It managed to execute some good trades in both the EUR/USD and GBP/USD markets.
In fact, the program had captured the early part of today's 300-pip surge of the two European currencies against the US dollar. News: The US Dollar fell most versus Euro since 1999 debut.
The ea trading program came with stringent stop loss and exit strategies, thus I was pleased with today's outcome.Переслать - London Open Breakout System - Day 2
Results on day 2 (Nov 3):
No trade EUR/USD
Short EUR/JPY 126.89 stop at 126.49 - Profits: for +40 & 1 pips
Cumulative Results +239 PipsПереслать - Day Trading Service: Trading Report Oct' 08 (-195 pips)
Fact 1: Major-Pairs Results -195 pips; Yen-Crosses Results +365 pips; 100-Pip EA Results +350 pips
October was the month in which the US dollar continued to rally to multi-year highs against the rest of the major currencies. Both stock and forex markets were in panic mode in a month which saw two interest rate cuts by the FED and other central bankers.
Fact 2: End of Eight Consecutive Winning Months Since Inception
The End-of-Session system for the major pairs recorded its first losing month since the start of record. It was interesting to observe that the system performance was actually affected by the two rate cuts last month.
Despite that, the yen-crosses and the100-pip ea system managed to pull back +365 pips and +350 respectively. All the latest results and breakdown of 100-pip setups can be found via in this page.
Fact 3: Individual Performance Overview & EUR/USD Still the Top Performer
EUR/USD is still the biggest gainer of all since the start of record, closely followed by USD/CHF and USD/CAD.
Results summary:
EUR/USD +960 pips
USD/CHF +635 pips
USD/CAD+385 pips
AUD/USD +30 pips
USD/JPY +5 pips
GBP/USD -80 pips
Previous Reports:
Day Trading Report Sept' 08 (+290 pips)
Day Trading Report Aug' 08 (+760 pips)Переслать - Making the Most Out of Newstrader EA - GBP/USD
It's the end of October. One of the highlight during this month was definitely trading the GBP/USD market with the Newstrader EA program.
Using the newstrader setup, the automated program entered a total of 18 times in the GBP/USD market, trading a wide range of economic news releases, from ISM to GDP data, from MPC meeting minutes to FOMC interest rate statement, and etc.
14 out of 18 trades were winners, giving us a high win-rate of 78% and +386 pips.
Thus, I'm pleased with the results and am looking forward to start over again in a new trading month.
How does my newstrading program work? if you are interested in participating, simply click here or here to find out more about the news trading subscription.Переслать - London Open Breakout System - Day 1
I've been looking for a new leading indicator for my London Open Breakout System (LOBS). Surprisingly, the "forex killer" signals have been working well for this system. The main trading idea is for me to get involved only when the markets are in overbought or oversold territory, i.e. looking for some breakout actions which can lead to a quick bounce in price during the active London opening hours.
I should be able to follow the system quite easily - as I can readily auto-trade this new system with my 100-pip program using the generated forex killer signals. At present, I am suggesting trading only the Euro markets (e.g. EUR/USD and EUR/JPY).
Here is the results on day 1:
Long EUR/USD 1.2742 stop at 1.2682 - Profits: +40 & 18 pips
Long EUR/JPY 123.62 stop at 123.02 - Profits: for +40 & 100 pips
Cumulative Results +198 Pips
I'll be proving additional detailed info about this system to my existing daytrading service subscribers soon. First, let's me start tracking the LOBS performance from now on, following the footstep of the well-established 100-pip and newstrading programs.Переслать
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