Daily Forex Signals – 4th Feb 2011



There is 1 Open Position
There is 6 Closed Trade

Daily Market Beacon
Friday, February 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/CAD from .9886 (currently trading .9902)
Stop loss: .9836
Target .9944

SuperADX results:
Short CHF/JPY +92pips
Long EUR/JPY -113pips
Short AUD/USD +15pips

SuperTrend Results:
Long EUR/USD -47pips
Long GBP/USD -19pips
Long GBP/CHF +79pips



Track Record

+471pips

Accumulative

Final January 2011



-All time stamps are EST (New York time)-
(2/3/2011 2:02:25 AM):
Good Morning London! On the Supertrend system, we will look to take longs across the board on all three pairs of eur/usd, gbp/usd and gbp/chf. We can enter long now on both gbp/chf and gbp/usd. Let’s have a great day! Cheers.

(2/3/2011 2:06:16 AM):
Supertrend trade alert
Buy to Open GBP/CHF at Market
Filled 1.5238
SL 1.5195 (43pips)
TP 1.5317 (79pips)

(2/3/2011 2:08:35 AM):
Supertrend trade alert
Buy to OPEN GBP/USD at Market
Filled 1.6193
SL 1.6124 (69pips)
TP 1.6295 (102pips)

(2/3/2011 2:33:03 AM):
Supertrend trade alert
Buy to OPEN EUR/USD at Market
Filled 1.3812
SL 1.3765 (47pips)
TP 1.3897 (85pips)

(2/3/2011 2:47:18 AM):
Supertrend exit alert
Target reached on GBP/CHF long at 1.5317
Out +79pips

(2/3/2011 2:47:30 AM):
Keep order working if not filled. High was 1.53174. Some may still be in.

(2/3/2011 6:24:56 AM):
We stopped out our long Supertrend EUR/USD
Out -47pips

(2/3/2011 9:01:38 AM):
Supertrend Exit Alert
Sell to CLOSE GBP/USD at Market
Filled 1.6174
Out -19pips
Signal reversed on us.

(2/3/2011 10:04:06 AM):
SuperADX Exit alert
Buy to Close AUD/USD at Market
Filled 1.0099
Out +15pips
Signal that got us short does not exist anymore. Sentiment has turned bullish. Let’s get out with a small profit here.

(2/3/2011 11:07:59 AM):
We stopped out our LONG SuperADX EUR/JPY at 111.35
Out -113pips


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”

Related posts:

  1. Daily Forex Signals – 19th Jan 2011
  2. Daily Forex Signals – 21st Jan 2011
  3. Daily Forex Signals – 28th Jan 2011
  4. Daily Forex Signals – 2nd Feb 2011
  5. Daily Forex Signals – 3rd Feb 2011
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