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.