Daily Forex Signals – 28th Jan 2011


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There is 1 Open Position
There is 8 Closed Trade

Daily Market Beacon
Friday, January 28th 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 .9440 (currently trading .9451)
Stop loss .9385
Target .9498


SuperADX results:
Stopped Out:  Short EUR/JPY -56pips
Target Reached:  Long AUD/JPY +67pips
Target Reached:  Long EUR/AUD +86pips
Stopped Out:  Short EUR/USD -160pips

SuperTrend Results:
Long EUR/USD -60pips
Long EUR/USD -5pips
Long GBP/USD -12pips
Short GBP/CHF -76pips



Track Record

+46
2 Pips

Accumulative

January
2011



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


(1/27/2011 1:51:14 AM):
Good Morning London! Today on the SuperTrend system, we will be looking at taking Longs on both the EUR/USD and GBP/USD. The GBP/CHF will be a Short once we get a viable signal. Expect an a long entry n the eur/usd at the top of the hour.

(1/27/2011 1:59:59 AM):
SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3713
SL 1.3639 (74pips)
TP 1.3798 (85pips)



(1/27/2011 2:37:43 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/USD at Market
Filled 1.5937
SL 1.5850 (87pips)
TP 1.6045 (108pips)

(1/27/2011 2:51:29 AM):
This kinda stinks with the EURO going south moments after we got into it .

(1/27/2011 2:54:46 AM):
We got caught in a bull-trap.

(1/27/2011 2:57:33 AM):
Let’s exit our supertrend long eur/usd here.

(1/27/2011 2:58:05 AM):
Out at 3653

(1/27/2011 3:04:56 AM):
In the last few minutes, these trade closed out:
Long SuperTrend EUR/USD -60pips,
Long EUR/AUD +75pips,
Short EUR/JPY -56pips.

(1/27/2011 6:01:22 AM):
SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3739
SL 1.3634 (105pips)
TP 1.3851 (112pips)

(1/27/2011 6:06:16 AM):
sell to open gbp/chf here at market

(1/27/2011 6:06:23 AM):
filled 4989

(1/27/2011 6:07:03 AM):
SuperTrend Trade Alert
Sell to OPEN GBP/CHF at Market
Filled 1.4989
SL 1.5065 (76pips)
TP 1.4867 (122pips)

(1/27/2011 10:49:14 AM):
SuperADX Trade Alert
Sell to Close AUD/JPY at Market
Filled 82.36
Out +67pips

(1/27/2011 2:00:45 PM):
Be sure to close our our long eur/usd and gbp/usd at NY close (4pm EST).

(1/27/2011 10:27:51 PM):
At 4pm ET, we closed out the two SuperTrend trades at:
EUR/USD at 1.3734 Out -5pips
GBP/USD at 1.5925 Out -12pips

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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