Forex

Trade 30

BUY @ 19647.3 (24/6/08 6am)

SELL @ 19695.9 (25/6/08 7am)

Pips profit = 48.6 (£48.60)

Trade 31

BUY @ 19748.0 (26/6/08 7am)

SELL @ 19726.0 (26/6/08 8am)

Pips profit = -22.0 (-£22.0)

Trade 32

BUY @ 19884.0 (26/6/08 9pm)

SELL @ 19871.3 (27/6/08 2am)

Pips profit = -12.7 (-£12.70)

Trade 33

SELL @ 19896.0 (30/6/08 1pm)

BUY @ 19930.3 (30/6/08 2pm)

Pips profit = -34.30

Current bank: £1762.80

P/L: £783.20

Winning trades: 13

Losing trades: 20

Strike rate: 39%

Filed under Forex,Spread Betting by Les

Hi guys,

Right, I’ve been getting quite a few e-mails about my settings for TUFXP even though I’ve already explained so I’ll go over it once more here.

I use a PTP intensity of 10, a trailing stop of 5 bars, and I run both 5 minute and 10 minute charts on the GBP/USD and EUR/USD. So I have four windows open on my screen, with the 5 minutes at the top and the 10 minute underneath.

Now, you will miss a lot of trades with this intensity, and I do realise this, but I have just found that my settings seem to work well (as those of you that have been following this for the last couple of months will have seen).

When a PTP alert happens it must be on both 5 and 10 minute charts. As soon as the circles appear on both, use the $ tool and drag to the right on both so that it draws in the automatic lines for you. You will then get an entry point on both charts. Sometimes the entry point will be the same, other times, the 10 minute chart will have an entry point further away than the 5 minute. Since I only trade when I get a confirmed signal (the circles fill in when the price hit’s the entry point) on BOTH 5 and 10 minute charts, if the 10 minute chart has an entry point further away, you will have to wait until it hit’s the entry point on the 10 minute chart. Sometimes it doesn’t hit this point and so I don’t trade… often it will retrace and be a losing trade on the 5 minute, so it has saved me from this. Other times, like today, waiting for the 10 minute means I lose more pips on a losing trade… but overall doing it this way has worked well.

I always follow the trailing stop on 5 minute chart though as this locks in more profit on a winning trade than the 10 minute.

Today is a good example. I had a losing trade this morning on the EUR/USD. Had I entered on the 5 minute chart, I would have drawn about even, but as you can see from the 10 minute chart in the picture below, the entry point was further  away and I ended up losing 14 pips overall. Fortunately, the price had retraced almost immediately upon hitting the entry confirmation so I got in at a slightly better price.

This afternoon, however, you can see that the entry point on both the 5 and 10 minute charts was the same. A confirmed signal on both and I entered long. It was a long afternoon it turned out but I made a decent 92 pips profit on the GBP/USD making a very acceptable 78 pips profit on the day:

Filed under Forex,Spread Betting by Graham

One of those days today. Very trappy and a good trade on the GBP/USD around 11.30 ish but I didn’t take it because I stopped trading at 11am. I did get a trade on the EUR/USD that looked like it might be pretty good but ended up retracing giving me only 4 pips.

I’ll not be trading tomorrow as it’s American Independance day so trading the dollar would be a bit iffy.

Filed under Forex,Spread Betting by Graham

A straightforward morning with a small loss on the EUR/USD of 4 pips but a nice healthy profit on the GBP/USD of 52 pips:

Filed under Forex,Spread Betting by Graham

I probably shouldn’t have traded today because at 3pm there was a significant news release scheduled which, I have to admit, I neglected to check for. As it happens I didn’t get stung but it was an interesting trade.

We got the signal around 2.40 this afternoon and it moved so fast that despite two attempts to enter the trade, I got refused with it saying the price had moved. I got in on the third attempt but at 8 pips beyond the official entry point. I then had the frustration of watching the trade retrace completely. Funny old game this trading malarky. There is no way of knowing (at least of me knowing) if the trade is going to retrace and sods law dictates that had I waited for it to retrace it would have gone on to make three hundred pips without me being on it!

Anyway, as you can see from the chart, it did make significant headway at three o’clock only to come right back up again, bounce back off the 20 DMA and then progress in an orderly fashion in the ‘right’ direction again before changing it’s mind and stopping me out for a 4 pip loss on the day:

Filed under Forex,Spread Betting by Graham

I had an e-mail from one of my bloggers, Terry, last week about my trailing stop loss in light of the fact that I had a few losing trades on the 5 minute chart that were winners on the 10 minute chart. The 4 bar trailing stop gives a 40 minute delay on the 10 minute chart giving the trade more room to move than the 20 minute delay in the 5 minute chart. He suggested going for a compromise by changing to a 5 or 6 bar trailing stop on the 5 minute chart which would give the trade more room to move without risking as much as the 10 minute chart would on a straighforward losing trade.

Of course, the trade off with extending the trailing stop is that if the market chooses to go completely the other way then you would lose more pips the longer the stop is delayed. There are an inifinite amount of combinations that can be tried, but seeing as I did have a few trades last week that could have been profitable with a little more room for it to move I decided to try upping my trailing stop to 5 bars in the 5 minute chart for this week to see how it goes. This will no doubt mean less profit on the winning trades but it could also mean more winners instead of losers so lets see how it does. We know the 4 bar works pretty well so if this week is a wash out, I’ll go back to that next week.

This morning I drew about even on the GBP/USD (well a 3 pip loss) but the 4 bar would have made a small profit of a few pips. On the EUR/USD, however, I managed to get 15 pips whereas the 4 bar trail would have drawn even. So today it has worked in my favour, but lets see how we get on the rest of the week.

Filed under Forex,Spread Betting by Graham

Another interesting week with TUFXP and it would have been very profitable except that Friday had two losing trades taking much of the previous profit back. Still we ended the week in profit and I suppose you can’t have winning days everyday.

I’ve heard Mondays and Fridays are not as good to trade and this week was no exception. A clear sell signal on both GBP/USD charts on Monday morning resulted in a 16 pip loss for me although it could have been worse had I not entered when it had retraced slightly. Whats interesting is that if I had followed the stop loss on the 10 minute chart I would actually have got a 33 pip profit, but I always move my stop in line with the 5 minute chart and I still think over the long run this makes me more pips than it loses:

There was also another trade just after 11am which would have made a nice 41 pips but I had stopped trading at 11am. Oh well:

Tuesday was a better day for me with a nice 33 pips profit on EUR/USD although at one point I thought I was going to get stopped out… just shows how the four bar trailing stop gives the trade room to breath: 

I made another 40 pips on Wednesday on GBP/USD with a straighforward morning trade:

And Thursday gave me another 8 pips first thing:

 
Friday was disappointing with an 18 pip loss for me first thing and another 29 pip loss in the afternoon, my biggest losing day since using tufxp. Still, I made an 18 pip profit over the week and although losing days are disappointing, they are inevitable and have to be taken on the chin.

So the profit for the week was a modest £180 on £10 level stakes, or £903 if we are continuing with the staking from the paper trading:

Bank:£39,599

23/6 -16 -£3168   (£36,431)
24/6 +33 +£6006   (£42,437)
25/6 +40 +£8480   (£50,917)
26/6 +8  +£2040   (£52,957)
27/6 -47 -£12,455 (£40,502)

Bank:£40,502

Friday would have been trading at £265 a pip which is really going into silly figures now but I have been advised that IG Index will allow up to £500 a pip so the above scenario could be possible, assuming the trades got matched in time.

I’ve been asked to keep posting my trades even though I have already approved this system because a few readers have purchased this system and wish to trade with the same settings as me so I hope you guys find this useful.

Filed under Forex,Spread Betting by Graham

Trade 28

BUY @ 19613.5 (19/6/08 4am)

SELL @ 19724.0 (20/6/08 1am)

Pips profit = 110.5 (£110.50)

Trade 29

SELL @ 19736.5 (20/6/08 3pm)

BUY @ 19654.0 (23/6/08 10pm)

Pips profit = 81.5 (£81.50)

Current bank: £1783.20

P/L: £783.20

Winning trades: 12

Losing trades: 17

Strike rate: 41%

Filed under Forex,Spread Betting by Les

Just an update on last weeks trading with Tufxp.

I actually started trading for real last week but for the sake of continuity I’ll use the profit figures based on continuing from my first month with a starting bank of £2000. To be fair, they are getting ridiculously high now and we have to wonder whether the actual spread betting firms would fill these orders. From what I’ve heard they would but others have warned of ‘delays’ when placing orders at that level. I have no experience of this so to keep it real, you may just want to look at the pips profit per day which, if you were just level staking at £10 a pip, is nothing to be sniffed at.

Bank: £15,023

16/6 +104 £7,800  (£22,823)
17/6 +14  £1,596  (£24,419)
18/6 No qualifying trades.
19/6 +66  £8,052  (£32,471)
20/6 +44  £7,128  (£39,599)

Week profit: £24,576

Bank:£39,599

Ok, so it’s looking like I’ve turned £2000 into £39,599 in five weeks with compounding.

As I say, I’m not sure whether we could actually bet at £162 a pip at IG Index, but the week at £10 level stakes would be £2,280 which I’m guessing would be more realistic and still very welcome.

There was a losing trade on Friday around 12.45 costing around 17 pips but since I had already made 44 pips I didn’t take it as advised by the developers. If you make a profit in the morning, take the afternoon off!

A reminder of my settings…. PTP10, trailing stop 4 bars. Only trade when a PTP signals on both the 5 minute and 10 minute charts.

Filed under Forex,Spread Betting by Graham