Daily Forex Signals – 24th Jan 2011


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There is 2 Open Position
There is 6 Closed Trade

 

Daily Market Beacon
Monday, January 24th 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"

Short CHF/JPY from 85.98 (currently trading 86.23)
Stop loss 86.80
Target 84.90

Long AUD/JPY from 81.69 (currently trading 81.83)
Stop loss 80.96
Target 82.90



SuperADX results:

Target Reached:  Short USD/CHF +47pips
Target Reached:  Short USD/CAD +32pips
Target Reached:  Short EUR/CHF +43pips

SuperTrend Results:
Long EUR/USD +95pips
Long GBP/USD +62pips
Short GBP/CHF +3pips

 



Track Record

+458
Pips

Accumulative

January
2011



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

 


 

 

 

(1/21/2011 1:56:09 AM):
Good Morning London! =) Our SuperTrend system is not giving us any clear entry signals at this time. The eur/usd is close to a long entry, but the enthusian isn’t there with price action. Price is probably going to hover sideways until 4am ET when we begin receiving economic data out of the eurozone.

 

(1/21/2011 2:56:07 AM):
Adjust target on USD/CHF short to .9635
Adjust target on USD/CAD short to .9956

(1/21/2011 3:01:03 AM):
Will enter long eur/usd here.

(1/21/2011 3:02:46 AM):
eur/usd running away before I can get the alert out. Sorry guys for the fast move, I am entered long at 3514. Will send over trade details momentarily.

(1/21/2011 3:03:48 AM):
We are OUT on our Short USD/CHF at target, Out +47pips

(1/21/2011 3:08:48 AM):
SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3514
SL 1.3393 (121pips)
TP 1.3634 (120pips)

(1/21/2011 3:30:24 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/USD at Market
Filled 1.5937
SL 1.5835 (102pips)
TP 1.6050 (113pips)

(1/21/2011 3:35:24 AM):
SuperTrend Trade Alert
Sell to OPEN GBP/CHF at Market
Filled 1.5336
SL 1.5404 (68pips)
TP 1.5235 (101pips)
We are making an exception with this trade by going against the 4HR trendline.

(1/21/2011 7:34:38 AM):
We are OUT our SuperADX Short USD/CAD at .9956,
Out +32pips

(1/21/2011 8:13:11 AM):
Adjust target on EUR/CHF short to 1.3001

(1/21/2011 8:54:17 AM):
We are Out our Short EUR/CHF at 1.3001
Out +43pips

(1/21/2011 8:58:03 AM):
Our three SuperTrend trades are looking good:
Long GBP/USD +55pips,
Short GBP/CHF +10pips,
Long EUR/USD +30pips.
If target or stop is not hit, we will close out these trades at NY close. The GBP/CHF can be closed at London close.

(1/21/2011 2:48:32 PM):
Be sure to close SuperTrend trades: GBP/USD and EUR/USD at Market (New York) Close today. We will keep the SuperADX CHF/JPY trade open over the weekend. Have a great couple days and see you back here Sunday evening.

(1/21/2011 7:10:26 PM):
We closed out our SuperTrend Longs at 4pm ET:
EUR/USD at 1.5013 Out +99pips
GBP/USD at 1.6003 Out +66pips
It was a decent week with +181pips picked up on the SuperTrend system and +226 pips made on the SuperADX system. Have an awesome weekend! =)

(1/22/2011 5:27:15 AM):
Correction: After reviewing my trade log and statement, the correct exits for yesterday’s EUR/USD and GBP/USD. The online track record has been corrected.
EUR/USD at 1.3609 Out +95pips
GBP/USD at 1.5999 Out +62pips
SuperTrend Track Record
Beginning Feb 1st, we will continue forward testing the SuperTrend system and raising our trade size to the regular $100k lot size.

(1/23/2011 9:27:25 PM):
SuperADX Trade Alert
Buy to OPEN AUD/JPY at Market
Filled 81.69
SL 80.96 (73pips)
TP 82.90 (121pips)
This trade is based on the SuperADX “Big Move Ahead” red bar. We are choosing Long because I am sensing a weakening of the Yen and this trade will be a hedge against our Short CHF/JPY should the JPY be the catalyst for the Big Move.

 

 

 

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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