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”


Daily Forex Signals – 25th Jan 2011


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There is 4 Open Position
There is 5 Closed Trade

Daily Market Beacon
Tuesday, January 25th 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 81.83)
Stop loss 80.96
Target 82.90
Short EUR/CHF from 1.2994 (currently trading 1.2947)
Stop loss 1.3110
Target 1.2865

Long GBP/CHF from 1.5172 (currently trading 1.5163)
Stop loss 1.5123
Target 1.5224

Long USD/CHF from .9483 (currently trading .9476)
Stop loss .9435
Target .9531


SuperADX results:
Target Reached:  Long AUD/USD +105pips
Trade Exited:  Short CHF/JPY -70pips
SuperTrend Results:
Long EUR/USD +40pips
Long GBP/USD +81pips
Short GBP/CHF -76pips


Track Record

+538
Pips

Accumulative

January
2011



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

 

(1/24/2011 1:58:12 AM):
Good Morning London. Hope you had a wonderful weekend. Looking forward to an awesome week of trading. For now, we are holding steady and flat with the SuperTrend system. The 4-HR trend still shows up on our three pairs, but nothing is looking too enthusiastically ready to go north at this point. Will alert to any changes.

 
(1/24/2011 2:35:31 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/CHF at Market
Filled 1.5346
SL 1.5270 (76pips)
TP 1.5480 (136pips)
(1/24/2011 2:37:32 AM):
That’s it for now with SuperTrend. The EUR/USD and GBP/USD pairs are still pointing south. We’re looking to take longs only based on 4H chart.

(1/24/2011 4:36:43 AM):
SuperADX Trade Alert
Buy to OPEN AUD/USD at Market
Filled .9891
SL .9829 (62pips)
TP .9995 (104pips)
This trade is based on the SuperADX “Big Move Ahead” Red bar.

(1/24/2011 5:24:06 AM):
We have stopped out our SuperTrend LONG GBP/CHF at 1.5270, Out -76pips

(1/24/2011 9:01:26 AM):
SuperTrend Trade Alert
Buy to Open EUR/USD at Market
Filled 1.3603
SL 1.3498 (105pips)
TP 1.3698 (95pips)

(1/24/2011 9:08:58 AM):
SuperADX Trade Alert
Sell to OPEN EUR/CHF at Market
Filled 1.2994
SL 1.3110 (116pips)
TP 1.2865 (129pips)
This trade is based on the SuperADX reversal signal 240min chart with a target at the MoneyLine2.

(1/24/2011 9:18:56 AM):
SuperADX EXIT Alert
Sell to Close CHF/JPY at Market
Filled 86.68
Out -70pips
It is obvious we got on the wrong side of this big move. Let’s exit now without the full stop loss.

(1/24/2011 10:00:30 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/USD at Market
Filled 1.5969
SL 1.5917 (52pips)
TP 1.6055 (86pips)

(1/24/2011 11:05:17 AM):
We are OUT our LONG AUD/USD at .9995
Out +104pips

(1/24/2011 8:33:42 PM):
Both SuperTrend trades were closed at New York Close time (4pm ET) at:
EUR/USD 1.3643 Out +40pips
GBP/USD 1.5998 Out +81pips

SuperADX Track Record

(1/24/2011 10:04:59 PM):
SuperADX Trade Alert
Buy to Open USD/CHF at Market
Filled .9483
SL .9435 (48pips)
TP .9531 (48pips)
This trade is based on the SuperADX reversal signal 30min chart.

(1/25/2011 12:19:14 AM):
SuperADX Trade Alert
Buy to OPEN GBP/CHF at Market
Filled 1.5172
SL 1.5123 (49pips)
TP 1.5224 (52pips)
This trade is based on the SuperADX reversal signal 30min chart.

 

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”

Daily Forex Signals – 24th Jan 2011


spacer

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”


Daily Forex Signals – 21st Jan 2011


spacer

There is 4 Open Position
There is 5 Closed Trade

Daily Market Beacon
Friday, January 21st 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 85.73)
Stop loss 86.80
Target 84.90

Short EUR/CHF from 1.3044 (currently trading 1.3041)
Stop loss 1.3106
Target 1.2980

Short USD/CAD from .9988 (currently trading .9969)
Stop loss 1.0033
Target .9950

Short USD/CHF from .9682 (currently trading .9654)
Stop loss .9747
Target .9615


SuperADX results:

Target Reached:  Short GBP/CHF +79pips

SuperTrend Results:
Long EUR/USD -32pips
Long EUR/USD -42pips
Long GBP/USD -72pips
Long GBP/CHF +85pips



Track Record

+176
Pips

Accumulative

January
2011



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


(1/20/2011 1:55:34 AM):
Good Morning London! Today the 4-HR trend is still up on all three pairs, however, the short term trend is down on both the GBP/USD and GBP/CHF. We will hold off from getting into these two pairs until we have a confirmed long signal. We will be taking an immediate LONG EUR/USD position at the top of the hour. Yesterday was a difficult day on both the SuperTrend, (due to choppiness), and the SuperADX, (due to choosing the wrong direction). Looking forward to good trading today. =)

(1/20/2011 2:00:25 AM):
buy eur/usd at market, filled 3465


(1/20/2011 2:01:24 AM):
SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3465
SL 1.3415 (50pips)
TP 1.3550 (85pips)

(1/20/2011 2:30:47 AM):
Sell to Close EUR/USD at Market

(1/20/2011 2:32:35 AM):
SuperTrend Trade Alert
Sell to Close EUR/USD at Market
Filled 1.3433
Out -32pips
Reason for exit: Signal reversed

(1/20/2011 2:34:19 AM):
SuperADX Exit Alert
We are OUT our Short GBP/CHF at 1.5205
Out +79pips

(1/20/2011 2:34:30 AM):
We are currently FLAT with NO open or pending positions.

(1/20/2011 3:50:55 AM):
We will probably be entering long GBP/USD and possibly EUR/USD at the top of the hour. (10 min from now).

(1/20/2011 4:02:17 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/USD at Market
Filled 1.5978
SL 1.5906 (72pips)
TP 1.6095 (117pips)

(1/20/2011 4:04:43 AM):


SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3479
SL 1.3415 (64pips)
TP 1.3555 (76pips)

(1/20/2011 4:30:35 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/CHF at Market
Filled 1.5265
SL 1.5188 (77pips)
TP 1.5350 (85pips)

(1/20/2011 6:41:33 AM):
Price action is slooooow today. We have some SuperADX signals appearing now. We’ll put those trades on momentarily.

(1/20/2011 9:01:42 AM):
SuperTrend Exit Alert
We are OUT our Long GBP/CHF at 1.5350
Out +85pips

(1/20/2011 9:56:13 AM):
Sell to OPEN CHF/JPY at Market
Filled 85.98
SL 86.80 (82pips)
TP 84.90 (108pips)
This trade is based on the SuperADX “Big Move Ahead” red bar.

(1/20/2011 10:03:17 AM):
We stopped out on our SuperTrend Long GBP/USD at 5906
Out -72pips

(1/20/2011 10:39:44 AM):
SuperTrend Exit Alert
Sell to Close EUR/USD at Market
Filled 1.3437
Out -42pips
Tough market last two days.

(1/20/2011 1:07:25 PM):
Sell to OPEN USD/CAD at Market
Filled .9988
SL 1.0033 (45pips)
TP .9943 (45pips)
This trade is based on the SuperADX reversal signal 60min chart.

(1/20/2011 8:18:31 PM):
SuperADX Trade Alert
Sell to OPEN USD/CHF at Market
Filled .9682
SL .9747 (65pips)
TP .9615 (67pips)
This trade is based on the SuperADX reversal signal 30min chart.

(1/20/2011 8:35:49 PM):
Adjust target on USD/CAD short to .9950

(1/21/2011 1:08:24 AM):
SuperADX Trade Alert
Sell to OPEN EUR/CHF at Market
Filled 1.3044
SL 1.3106 (62pips)
TP 1.2980 (64pips)
This trade is based on the SuperADX reversal signal 30min chart. We should see a correction here see price retrace to our MoneyLine2.

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”


Daily Forex Signals – 20th Jan 2011



There is 1 Open Position
There is 6 Closed Trade

Daily Market Beacon
Thursday, January 20th 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 GBP/CHF from 1.5284 (currently trading 1.5219)
Stop loss: 1.5534
NEW Target 1.5205

SuperADX results:
Stopped Out: Long NZD/USD -57pips
Stopped Out: Long NZD/JPY -56pips

SuperTrend Results:
Long EUR/USD +2pips
Long GBP/USD -41pips
Long GBP/USD -48pips
Long GBP/CHF +93pips



Track Record

+158pips

Accumulative

January 2011



-All time stamps are EST (New York time)-
(1/19/2011 1:56:25 AM):
Good Morning London, based on the SuperTrend system, we will be taking long position in the EUR/USD and GBP/USD now. Let’s hold off the GBP/CHF until we get a solid signal. Entering GBP/USD and EUR/USD now. Will send trade details momentarily.(1/19/2011 2:08:45 AM):
SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3472
SL 1.3353 (119pips)
TP 1.3554 (82pips)
Buy to OPEN GBP/USD at Market
Filled 1.6015
SL 1.5927 (88pips)
TP 1.6095 (80pips)
The EUR/USD has a particular ugly risk/reward ratio, so we’ll be watching it closely to get out if signal reverses.

(1/19/2011 5:02:23 AM):
Close GBP/USD at Market

(1/19/2011 5:03:43 AM):
SuperTrend Exit Alert
Sell to Close GBP/USD at Market
Filled 1.5974
Out -41pips

(1/19/2011 5:09:10 AM):
My apologies for calling these exits in fast moving markets. By the time, I got the alert out, price had jumped another ten pips. If the SuperTrend system works out as successful as I think it will, I will be offering auto-trading in about sixty days through a managed account, therefore, you’ll get the same fills I get.

(1/19/2011 7:30:04 AM):
SuperTrend: Buy to OPEN GBP/CHF at Market

(1/19/2011 7:30:24 AM):
filled 5413

(1/19/2011 7:33:43 AM):
7:30am ET Jan 19
Buy to OPEN GBP/CHF at Market
Filled 1.5413
SL 1.5292 (121pips)
TP 1.5535 (122pips)
This trade will close at 5pm GMT (London Close), if neither stop loss or target has been reached.

(1/19/2011 7:50:06 AM):
We will be re-entering GBP/USD long if this 30min candle closes above 6020 at the top of the hour.

(1/19/2011 8:00:40 AM):
Bought GBP/USD at 6029

(1/19/2011 8:02:58 AM):
8:00am ET Jan 19
SuperTrend Trade Alert Buy to OPEN GBP/USD at Market
Filled 1.6029
SL 1.5926 (103pips)
TP 1.6115 (86pips)

(1/19/2011 10:00:16 AM):
Sell to Close long GBP/USD at Market

(1/19/2011 10:00:59 AM):
SuperTrend Exit Alert
Sell to Close GBP/USD at Market
Filled 1.5981
Out -48pips

(1/19/2011 10:01:48 AM):
Exit reason: Signal reversed.

(1/19/2011 10:02:50 AM):
And this is how a trend following system reacts in a choppy market. We will trade the GBP/USD again tomorrow.

(1/19/2011 10:30:43 AM):
Close long GBP/CHF at Market

(1/19/2011 10:32:25 AM):
SuperTrend Exit Alert
Sell to Close GBP/CHF at Market
Filled 1.5320
Out -93pips


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”