Daily Forex Signals – 2nd Feb 2011


There is 2 Open Position
There is 5 Closed Trade

Daily Market Beacon
Wednesday, February 2nd 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 87.10 (currently trading 87.29)
Stop loss 87.76
Target 86.18

Long EUR/JPY from 112.48 (currently trading 112.81)
Stop loss: 111.35
Target 113.90

SuperADX results:
Stopped Out:  Long USD/JPY -27pips

SuperTrend Results:
Long EUR/USD +86pips
Long GBP/USD +31pips
Long GBP/CHF -34pips
Short GBP/CHF -49pips

Track Record



January 2011

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

(2/1/2011 2:06:16 AM):
Good Morning London! Today on the SuperTrend system, we will be looking at take longs on both the EUR/USD and GBP/USD. The GBP/CHF is on the cusp of the 4HR trendline so we can take a valid signal in either direction. January closes out with a total of +471pips across both SuperADX and SuperTrend strategies. Granted, I was a little gun shy with SuperADX and avoided many signals. Actual results would have been a bit higher if every trade was taken. Today is February 1st and I am bumping up the SuperTrend strategy with a full 100K contract (average $10pip) on my personal account. I’m most confident with GBP/USD, secondly is GBP/CHF even though this pair is more chaotic, and lastly EUR/USD. Let’s have a great month! Cheers!

(2/1/2011 2:07:51 AM):
No valid signal on the SuperTrend at this point. Will alert if/when something breaks.

(2/1/2011 2:31:31 AM):
buy eur/usd at market

(2/1/2011 2:32:03 AM):
SuperTrend Trade Alert
Buy to Open EUR/USD at Market
Filled 1.3740
SL 1.3661 (79pips)
TP 1.3826 (86pips)

(2/1/2011 2:33:42 AM):
SuperTrend Trade Alert
Sell to OPEN GBP/CHF at Market
Filled 1.5110
SL 1.5159 (49pips)
TP 1.4975 (135pips)

(2/1/2011 3:37:27 AM):
We stopped out SuperTrend short GBP/CHF at 5159
Out -49pips

(2/1/2011 4:50:56 AM):
We’ll be taking long positions on both gbp/usd and gbp/chf at the top of the hour if this candle stays confirmed.

(2/1/2011 5:02:04 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/CHF at Market
Filled 1.5172
SL 1.5068 (104pips)
TP 1.5290 (118pips)

(2/1/2011 5:03:00 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/USD at Market
Filled 1.6116
SL 1.5995 (121pips)
TP 1.6228 (112pips)

(2/1/2011 10:52:00 AM):
Price action is slow this morning, though it seems we are on the right side of each of our five trades. All in positive territory.

(2/1/2011 12:00:10 PM):
In accordance to the SuperTrend rules, let’s close our Long GBP/CHF at Market here at 12:00 EST. (London Close). It’s unfortunate there was a brash sell-off of 70 pips on this pair in the last hour.

(2/1/2011 12:03:00 PM):
SuperTrend Exit Alert
Sell to Close GBP/CHF at Market
Filled 1.5138
Out -34pips

(2/1/2011 12:07:28 PM):
Our other two SuperTrend trades, both Long eur/usd and gbp/usd should be closed at NY close (4pm) if target or stop hasn’t been hit.

(2/1/2011 12:08:30 PM):
Another 15pips for our long eur/usd to hit target.

(2/1/2011 12:29:01 PM):
Eur/usd came within one pip of exiting at target. Keep order working.

(2/1/2011 12:38:41 PM):
We are OUT our SuperTrend Long EUR/USD at 1.3826
Out +86pips

(2/1/2011 8:00:16 PM):
GBP/USD SuperTrend trade was closed at 4pm (NY Close)
@ 1.6147
Out +31pips

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

Q. What do the abbreviations TP and SL mean?

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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