Daily Forex Signals – 26th Jan 2011


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There is 2 Open Position
There is 8 Closed Trade

We Had Another
Awesome Trading Day!

Daily Market Beacon
Wednesday, January 26th 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 AUD/JPY from 81.69 (currently trading 81.90)
Stop loss 80.96
Target 82.90

Short EUR/USD from 1.3595 (currently trading 1.3694)
Stop loss 1.3755
Target 1.3410

 



SuperADX results:

Target Reached:  Long USD/CAD +61pips
Stopped Out:  Long USD/CHF -48pips
Target Reached:  Short GBP/JPY +104pips
Target Reached:  Short EUR/CHF +106pips
Stopped Out:  Long GBP/CHF -49pips

SuperTrend Results:
Long EUR/USD -41pips
Long EUR/USD +15pips
Short GBP/CHF +100pips
Long GBP/USD (no trade yesterday because price headed down on a 4-hr uptrend – we stayed cleared)

 



Track Record

+786
Pips

Accumulative

January
2011



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

 


 

(1/25/2011 1:00:05 AM):
FYI, we have two new signals appearing on the SuperADX system. Both Red Bars “Big Moves Ahead” type signals on the USD/CAD and GBP/JPY. We already have four trades ongoing with the SuperADX. I prefer to be spread out like this rather then “all my eggs in one or two baskets”, but it is important that your risk per trade be at a comfortable level to be stretched like this. For example, my risk per trade is at a conservative 0.5% approximately and if I lose four consecutive trades, my drawdown is about 2% only. Be sure you’re also using proper money management and not gambling aka “swinging for the fences”.

 

(1/25/2011 1:06:12 AM):
Anyone… please feel free to step up and give me your opinions on which direction the big moves will be on the USDCAD and GBPJPY. I am leaning towards a long on usd/cad, though the gbp/jpy is more difficult.

(1/25/2011 1:42:58 AM):
SuperADX Trade Alert
Buy to OPEN USD/CAD at Market
Filled .9922
SL .9849 (73pips)
TP 1.0024 (102pips)
This trade is based on the SuperADX “Big Move Ahead” Red bar 30min chart. I’m going with the broad consensus and taking a long position here. 71% of institutional traders are long.

(1/25/2011 1:54:43 AM):
SuperADX Trade Alert
Sell to OPEN GBP/JPY at Market
Filled 131.86
SL 132.70 (84pips)
TP 130.82 (104pips)
This trade is based on the SuperADX “Big Move Ahead” red bar 30min chart. It appears the big move will be down, though this is more risky than usual.

(1/25/2011 1:59:15 AM):
Good Morning London! Today on the SuperTrend system, we will be looking to take longs on both the GBP/USD and EUR/USD. The GBP/CHF has had three consecutive closes under the MoneyLine2 which is giving us a trend direction change and therefore we will consider shorts only on this pair.

(1/25/2011 2:01:01 AM):
The GBP/CHF is the only pair giving us a valid entry signal at this time. Let’s sell short now.

(1/25/2011 2:04:28 AM):
SuperTrend Trade Alert
Sell to OPEN GBP/CHF at Market
Filled 1.5153
SL 1.5205 (52pips)
TP 1.5053 (100pips)

(1/25/2011 3:00:18 AM):
buy eur/usd at market

(1/25/2011 3:00:52 AM):
SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3666
SL 1.3625 (41pips)
TP 1.3765 (99pips)

(1/25/2011 4:12:53 AM):
We stopped out our SuperTrend long EUR/USD trade.

(1/25/2011 4:31:53 AM):
We are Out our Short GBP/JPY SuperADX trade +104pips

(1/25/2011 4:33:58 AM):
We are Out our Short GBP/CHF SuperTrend trade +100pips

(1/25/2011 4:35:22 AM):
England’s GDP much less than expected.

(1/25/2011 4:44:25 AM):
The GBP/CHF is still pushing down! Good for our short EUR/CHF, not so good for our long usd/chf, but it’s holding steady.

(1/25/2011 4:45:07 AM):
Let’s buy to close our short EUR/CHF here.

(1/25/2011 4:47:07 AM):
4:45am Jan 25
Buy to Close EUR/CHF at Market
Filled 1.2888
Out +106pips
Price dropped very quickly, so a bounce back can be very likely. Best to take profit here.

(1/25/2011 4:52:07 AM):
USD/CHF back to even. Go USD…!
Track Records Updated:
FXCoaching Track Record

(1/25/2011 5:11:21 AM):
SuperADX Trade Alert
Sell to OPEN EUR/USD at Market
Filled 1.3595
SL 1.3755 (160pips)
TP 1.3410 (185pips)
This is a SuperADX trade based on the reversal signal 240min chart.

(1/25/2011 8:51:38 AM):
We stopped out our Long SuperADX USD/CHF trade
Out -48pips

(1/25/2011 10:16:10 AM):
Sell to Close USD/CAD at Market Filled .9983
Out +61pips

(1/25/2011 10:30:16 AM):
SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3665
SL 1.3570 (95pips)
TP 1.3765 (100pips)

(1/25/2011 10:32:46 AM):
I doubt if target or stop loss will get hit on this long EUR/USD, therefore close it at NY close (4pm ET). All SuperTrend Trades get closed at NY closed. No overnight positions held.

(1/25/2011 11:27:23 AM):
the eur/usd is not being nice to us today

(1/25/2011 12:10:17 PM):
Well, the eur/usd is trickling back up there. We’ll let it play out and hopefully close with a profit. I’m going to get a few hours of sleep now, so don’t forget to close out the SuperTrend trade at New York close. See ya’ll in a few hours

(1/25/2011 10:01:42 PM):
Our SuperTrend EURUSD closed at 4pm EST at 1.3680,
Out +15pips

 

 

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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