Thursday 3rd December
A winner on GU:
Not a bad week this week with 100 pips profit (£1000 at £10 per pip).
I got an e-mail through from a fellow TUFXP user who spotted a couple of tweaks to the method that seems to squeeze a few more pips out of it. Thanks Steve:
I’ve actually noticed something else which may help this system… actually two things and they both relate to the time settings.
Firstly, if you set the time setting to 7.00am then you cannot get a signal at 7.00am (TUFXP uses a system where the time of each price bar is actually the time which the bar completes and not the time when the bar starts like some software packages). If you’ve studies forex (especially EUR and GBP swaps) for any length of time then you’ll have noticed that quite a few decent moves ‘kick off’ from 7.00am. I would therefore recomend setting your starting time at 6.00am. This doesn’t mean that you must now be up from 6am!! All that it means is that you may have some set ups on your charts when you fire them up at 7.00am. Any entry to positions would still be entirely after 7am. Changing this one setting adds a string of wins to this system and adds very few losses – it is certainly of benefit in my opinion.
Secondly, you have a 3.00pm cut off and I know that you love and value your free time but you should consider hanging about and taking any trade which shows as a valid set up (but doesn’t trigger) before your 3.00pm cut off time. We are only talking about four or five set ups per month falling into this catagory. The same applies to these set ups as the 7am set up – they have a very high statistical success rate! For example sometimes the 5 min 2.55pm bar shows a set up and then the 10 min 3pm follows suit – in the past you have ignored these set ups because, even though they are valid, they would potentially trigger after 3.00pm. As I say, these set ups have a very nice strike rate indeed. Earlier in the year (April – May time) there was actually a run of 8 winning trades and only 1 loss falling into this catagory. In reality it only perhaps adds 20 minutes to your trading day maybe once a week. Bear in mind of course that once a trade is open you don’t need to remain at your machine since you can just leave an OCO order to either take 25 profit or 25 loss.