Daily Forex Signals – 4th Jan 2011


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There is 1 Open Position
There is 1 Closed Trade

Daily Market Beacon
Tuesday, January 4th 2011


This issue contains:


1: Open Positions
2: Recently Closed Trades
3: Today's Intra-Day Alerts and Results
4: Today's Subscriber Questions and Comments
5: FAQ's
6: Article - "How We Trade The SuperADX"

Long USD/CHF from .9370 (currently trading .9356)
Stop Loss .9295
Target .9495

Stopped Out: Long USD/CAD -30pips



Track Record

-30
Pips

Accumulative

January
2011



-All time stamps are EST (New York time)-

10:14pm ET Jan 2
Buy to OPEN USD/CAD at Market
Filled .9933
SL .9903 (30pips)
TP .9963 (30pips)
This is a counter-trend trade based on the
TrendWave/BullsEye 30min with a target at the
MoneyLine2.

3:23am ET Jan 3
Buy to Open USD/CHF at Market
Filled .9370
SL .9295 (75pips)
TP .9495 (125pips)
Trade is based on the SuperADX “Big Move Ahead” Red
bar. Looks like the Big Move will be up based on the 4H
chart, MACD turning bullish, overdue correction, and
being oversold.

None today

Q. At what point do we cancel or replace existing orders? Do we cancel pending orders at a certain time?
A. Keep all Pending orders working until the next Market Beacon is
published. The following Market Beacon will always over-ride
existing orders, update protective stops and targets on existing
positions.


Q. What do the abbreviations TP and SL mean?

A.
When getting a quick alert out, I tend to abbreviate more… TP=
Take Profit (Target), SL= Stop Loss (Protective stop)



This new revised exit strategy has produced an “additional” profit
gain of 18.4% over the 23 months of backtests on five timeframes.
Our entry will stay the same and we will continue to take an
immediate position on entry. However, we will enter this trade with
two lots. We want the ability to exit half our position at one
target and the other half at another target. Do not mistake: We
are NOT
suggesting multiple targets which you must choose. None
of that stuff. I will continue to provide the exact entries, exits, stops and targets which I am using.


We will enter “Big Move” Red Bar trades with 2 Lots (or any size multiple of two) Both Positions with have the same static StopLoss. There will be Two Targets. First Target will be a staticTake Profit point. We will exit half our position at First Targetprice; then move Stop Loss to Breakeven for 2nd Half of Position.The 2nd Target will be decided by the SuperADX white bar exitsignal. This strategy starts immediately and instructions will be
included with the trade alert.

Please see this blog topic for a detailed explanation of our
SuperADX Red Bar Strategy. “How We Trade SuperADX “Big Move Ahead” Red Bar Signals”

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