GBPUSD 5 min week 48

I've tried trading on 5 min chart. Much more dangerous though, if orders are placed correctly they also could be profitable.
On 29 Nov I used this down move and placed 6 orders (##1-6). All but one was profitable.

Because of the small steps stop orders were impossible so all orders were market. Stop loss was trailing on 15 pips.

Trading in this short time frame requires watching the ticks all the time.

USDDKK week 47

Down move was broken soon after start.

Few dais gravitating around 5.07 level gave nice opportunity to place order (#1).
We had three days nice down move, one retrace.

Unfortunately retrace was strong and up move above previous day close hit the stop (#2)

EURSEK week 47

Here is EURSEK trade. Fortunately violation occurred at the end of the day after entry (#1). Stop loss was movet to break even, so the only actions was sitting and watching.

Next day stop loss was moved above previous higher high, and later in the day was hit.
Anyway - nice profit.

EURUSD 21 Nov

The rally today offered nice opportunity to profit. There was a perfect setup from the last week.
Buy stop order was set. Only price had to move and it did firing the order.

Because of the steep move I've tighten the stops, perhaps too much. Anyway today it was hit allowing a nice profit.

NZDUSD week 45

Thursday and Friday previous week (44) formed a nice setup. Order was open at the beginning of the week and jumped up, offering a free trade almost immediate. After this strong rally I've tighten the stops too much perhaps. But retrace next days make me happy I did ;-)

AUDUSD week 45

Monday failed to fire buy stop order placed after setup formed previous week (44).
Order was filled on Tuesday and almost closed next day. Fortunately nevertheless price went below previous low, it made a correction and closed positive.
This deep reverse and small range on day 4 (Thursday) make me to sight the stops, hit on Friday with its furious diving...

EURUSD week 45

Simple chart. Mondays consolidation offered excellent entry point. Then we had 3 days straightforeword up move until stop-loss was hit.

USDCAD week 44

Another nice profit allowed by USDCAD this week, constantly continuing its down move.

There was an order from the previous week (#1) and two new orders on each price stop.
Sell-Stop orders were place just below the last low. Price move did the rest.

Friday afternoon all the orders were closed taking the profit.

AUDUSD week 44

After retrace, this week AUDUSD offered excellent opportunity for profit on the break up.

Nevertheless price broke down below both MAs, fast MA turned up almost immediately after touching slow MA.
Entry point was place on the top of the previous peak, and after it was taken price moves fast offering opportunity to secure the trade moving the stop-loss at breakeaven.

The exit point was on the break down of the previous high. That's it.

USDNOC

And a traded forex chart from this week - USDNOK.

After the rest at the previous week end this pair continued its strong down move with a small hesitation at the begining.

This week ended with 47 pips profit ;-)

SCUR:xnas

And another sample of the same method applied to stock - Secure Computing Corp. (NASDAQ:SCUR).

Here the first entry is not so obvious. Second and third entries were also questionable but as the retrace did not break down the previous low I took them as valid nevertheless the moves down were large.

AUO:xnys

Here is a trade of stocks using the same trade system.

This is NYSE:AUO chart (AU Optronics Corp.) is from last week. During these 5 days this stock offered a nice profit of about $2 per share.

Entry and exit points are marked on the chart. The entry reason is also on the chart. Hope it is clear.

How retracement eat profit.

Here is the EURUSD chart where is visible that the bull move in European session is eaten by bears during the US Session.

Nevertheless the trend is up both orders shown on the chart are losses because of the fluctuation during the day. This level is quite extreme for this pair and the volatility is high.

As a final thought might be the fact that there is no daily retrace of the price - witch is not a good place to enter the market.

AUDJPY Another trade

Another chart of trades completed successfully this month.

Two trading sessions - 1st marked with orange; 2nd with green.
At 17th there was a big retrace down and it was not clear whether up move will recover. This is why 1st order was place immediately the move had turned up. 2nd, 3rd and 4th orders were as usual - at break of the high.
After 4th order price retraced again causing small loss, but other 3 order were healthy ;-)

USDCAD Trade

Here is another excellent trade opportunity offered this month by USDCAD pair.

On the chart is visible the strong down trend started 11th September. Small retraces offered nice opportunity to add more orders.
The first greater retrace up was on 19th where I took my profit form orders placed last 7 days. And I placed a new sell stop order below of the low of the green bar. Next day it was hit and I was in the 2nd trade where the 2nd entry was a small loss because of the retrace.

EURJPY - Nice Sample

These few weeks offered very nice sample of Veteran trading method usage.

On the chart below I'm marked entries and exit points as I've applied it on my trade.
Because of the very strong move I've added some more orders to increase the profit.

These almost 30 days I've made three sessions where 2nd and 3rd had multiple orders,
allowing me to increase the profit.

Hope marks to be clear and easy to understand:
Orange are entry points;
Red are exits

USDJPY trade

Because of the high volatility some of the entries are made on previous bar low break down.

GBPCHF stop & reverse trade

First entry was short one according to the trend defined by MAs. But new information reversed the move sharply up and stop loss was hit.

The same move supported by change of direction of the 9 MA offered new entry (long this time) opportunity. Nevertheless big fluctuation this time stop loss has survived and yesterday another buy stop order was executed.

Today session took stop loss (which I've tighten because of double tops formation) leaving some profit...

EURGBP trade ended

Here is the trade ended last night. The daily chart shows the diving move during last two days. As the up retrace failed to continue breaking 0.68 level I've place a sell stop order under the bar crossing 55 MA.

I was lucky enough down move to continue strongly offering a nice profit.

Earlier today stop order was hit closing all open positions.

Balance 09-13 July 2007 results

09-13 July 2007 results

Here is what happened this week. This is around 20% profit.

EURUSD trade - week 09-13 July 2007

Another excellent trading opportunity supported by the news appeared this week.

Three buy order have been fired and stop loss (tighten on Friday) hit.

This trade only result 29% (29.25% actually) profit...

GBPUSD trade - week 09-13 July 2007

This week GBPUSD pair offered excellent opportunity following Old Trader Method.

Entries are marked with green and all orders were closed on stop loss hit. For the week only this pair result in about 2% profit (2.2% actually)

EURSEK trade

This is a sample how just after buy stop order has been executed the move turned around and went in the opposite direction.

Stop loss, which was set on the bar's open price, was hit and movement continued some pips above the previous bar Open, causing a small loss.

As is seen on the chart, movement turned direction again obeying the main trend, offering an opportunity to re-enter the market again.

GBPUSD trade completed

On the chart are visible entry points and exit (in red).

Trade started on 27 June on break up the three days channel.

Next day another order was added on break up the previous high.

I've missed next break up and I've hesitated a lot whether to close positions on down retrace.

As profit was locked I decided to leave order opened until price is above the MA.

Retrace ended and next order was fired on the break of the high. Next orders have been placed upon each break of the bar's hight.

Because of the retrace on the last bar, which was almost 50% of the bar and the distance between price and MAs, I closed this trade

Each order consisted of 1 lot. Each lot was 150% of the account balance.
Total profit for these 10 days was almost 20% of the starting account balance.

CADJPY trade

27 June - 6 July

There were two trading sessions for this 10 days.

First was during 27-29 June

Each day there was a break up above previous day's high which executed buy stop orders.
One on 115.01 and the other on 116.829
Third session breaking up tough soon turn the direction hitting the stop loss on 117.553.

Next trade fired with buy stop order hit on 5th of July at 116.442 followed by another one hit on 117.01.
Both were closed on 117.592 where stop loss was hit.

The Veteran Floor Trader Method

I found this method described on trading-naked web site and free distributed in this article.

The system was originally created for position trading.

This method is a retracement-continuation trade with the trend.

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Tools

9/18 period Moving Average to identify the trend.

Rally / Decline retracements

Here is description of retracement as is used in "The Veteran Floor Trader Method".

Trend confirmed by 9 & 18 MA is:

• Up when price > 9 MA > 18 MA
• Down when price <>

Rally retracement in down trend

Price forms a rally in an down trend when bar has higher lows than previous bar.

Looking to sell on break down on the previous bar low (marked by X).

• In the ideal situation there will be 2 to 5 bars before break down.
• Bars in retracement will be smaller or equal in range.
• Bars with large range are less reliable.

Decline retracement in up trend

Price forms a decline in an up trend when bar has lower high than previous bar.
Looking to buy on previous bar high break up (marked by X).

• In the ideal situation there will be 2 to 5 bars before break up.
• Bars in retracement will be smaller or equal in range.
  
• Bars with large range are less reliable.
  

Exceptions

In high volatility retracement could be formed by 1 only bar.

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Buy Signals

1. Price is (significantly) above 9 MA for at least 2 bars
2. 9 MA is above 18 MA
3. One or both 9/18 MA slope is/are up
4. There are few bars with lower highs. One or more bars touch or penetrate 18 MA line.

One the above is fact look for break up the previous bar high to place am long order.

Sell Signals

1. Price is (significantly) below 9 MA for at least 2 bars.

2. 9 MA is below 18 MA
3. One or both 9/18 MA slope is/are up
4. There are few bars with higher lows. One or more bars touch or penetrate 18 MA line.

One the above is fact look for break up the previous bar high to place am long order.