Researching My Morning & Evening Forex Signal Service - NEW !

[NIL5605]

Hi all
I've tried out a lot of signal providers over the last year, (fx-daytrader, midnightforex, top-forex-signal, pipslayers, fx-swingcapital, truefx, signalator, forexcharlie, grandpa, smartforexsignal, mrgreen, bankflowdata, lstrader, fx-swingtraders ....... to name but a few!) & reviewed some on this & other forums.

My aim has been to find a service that fitted around my full-time job, eg, 6am-8am & 6pm-8pm, (UK), & whilst I've had successes & failures with the services I've looked into, nothing has really worked in terms of my schedule.

So using the ideas I've learned, I've decided to start researching my own system, trading the GBPUSD, EURJPY, EURUSD & GBPJPY, between 6am-8am & 6pm-8pm, (UK), Monday - Thursday. Trading 1 lot, I'm using 25pip SL & 25pip TP on all the trades I enter & using 5 min trading charts

w/b 1st March 2010 was a good start with 200 pips gained across all 4 currency pairs over Monday - Thursday. Details are on the next post.

I will keep you updated daily as to my progress

Here's to successful pipping !

NIL

 

[NIL5605]

Hi all

Here are my trades for last week - apologies in that I did not keep records of the entry levels, only the times of the trades, (lesson learned for this week !).

Reminder : 25 pip SL & TP levels.

1.
GBP/USD : 6am-8am
Mon 1st March 2010 : 6.35am & 25 pip profit gained.
Tue 2nd March 2010 : 6.35am & 25 pip profit gained.
Wed 3rd March 2010 : No trade signal.
Thur 4th March 2010 : 6.20am & 25 pip profit gained.
TOTAL = 75 PIPS

GBP/USD : 6pm-8pm
No evening trade signals triggered during the week.

2.
EUR/USD : 6am-8am
Mon 1st March 2010 : No trade signal.
Tue 2nd March 2010 : No trade signal.
Wed 3rd March 2010 : 6.45am & 25 pip profit gained.
Thur 4th March 2010 : 6.10am & 25 pip profit gained.
TOTAL = 50 PIPS

EUR/USD : 6pm-8pm
No evening trade signals triggered during the week.

3.
EUR/JPY : 6am-8am
Mon 1st March 2010 : 7.25am & 25 pip profit gained.
Tue 2nd March 2010 : 6.15am & 25 pip loss
Wed 3rd March 2010 : 7.30am & 25 pip profit gained.
Thur 4th March 2010 : 6.10am & 25 pip profit gained.
TOTAL = 50 PIPS

EUR/JPY : 6pm-8pm
No evening trade signals triggered during the week.

4.
GBP/JPY : 6am-8am
Mon 1st March 2010 : 6.15am & 6.40am - both a 25 pip loss
Tue 2nd March 2010 : No trade signal.
Wed 3rd March 2010 : 6.05am & 25 pip profit.
Thur 4th March 2010 : 7.55am & 25 pip profit.
TOTAL = 0 PIPS

GBP/JPY : 6pm - 8pm
Tue 2nd March 2010 : 6.20pm & 25 pip profit.
TOTAL = 25 PIPS

WEEK 1 TOTAL = 200 PIPS - 11 trade wins & 3 trade losses

NB : Out of interest, I've also reviewed all these trades with a 20 pip TP & 30 pip SL. This would have resulted in a 130 pip profit for the week.

NIL

 

[NIL5605]

Trades : Monday 8th March 2010

Hi all

Monday 8th March's trades, (with 25 pip SL & TP levels), were as follows :

1.
GBP/USD : 6am-8am
Mon 8th March 2010 : 7.00am
LONG : Entry 1.5166; SL 1.5141; TP 1.5191
25 pip profit gained.

GBP/USD : 6pm-8pm
No evening trade signals triggered today.

2.
EUR/USD : 6am-8am
Mon 8th March 2010 : 6.35am
LONG : Entry 1.3680; SL 1.3655; TP 1.3705
25 pip loss, (trade retraced after gaining approx 22 pips)

EUR/USD : 6pm-8pm
No evening trade signals triggered today.

3.
EUR/JPY : 6am-8am
Mon 8th March 2010 : 7.00am
LONG : Entry 123.68; SL 123.43; TP 123.93
25 pip loss, (trade retraced after gaining approx 21 pips)

EUR/JPY : 6pm-8pm
No evening trade signals triggered today.

4.
GBP/JPY : 6am-8am
Mon 8th March 2010
6.25am SHORT : Entry 137.02; SL 137.27; TP 136.77
25 pip loss, (trade retraced after gaining approx 22 pips)
7.00am LONG : Entry 137.11; SL 136.86; TP 137.36
25 pip loss, (trade retraced after gaining approx 23 pips)
7.55am SHORT : Entry 137.14; SL 137.39; TP 136.89
25 pip profit gained

GBP/JPY : 6pm-8pm
No even trade signals triggered today

TOTAL = 50 PIPS LOSS TODAY

Not the best start to the week !

NB : I've reviewed all these trades with an alternate 20 pip TP & 30 pip SL, & interestingly all would have been successful, resulting in 120 pips of profit for the day - 6 successful trades & no losses ! Something to bear in mind maybe ?

NIL

 

[NIL5605]

Trades : Tuesday 9th March 2010

Hi all

Trades for Tuesday 9th March 2010, (with 25 pip SL & TP levels), were as follows :

1.
GBP/USD : 6am-8am
Tue 9th March 2010 : 8.00am
LONG : Entry 1.5005; SL 1.4980; TP 1.5030
25 pip loss, (trade retraced after gaining approx 22 pips)

GBP/USD : 6pm-8pm
Tue 9th March 2010 : 6.10pm
LONG : Entry 1.5009; SL 1.4984; TP 1.5034
25 pip loss

2.
EUR/USD : 6am-8am
Tue 9th March 2010 : 7.40am
LONG : Entry 1.3616; SL 1.3591; TP 1.3641
25 pip loss

EUR/USD : 6pm-8pm
No evening trade signals triggered today.

3.
EUR/JPY : 6am-8am
Tue 9th March 2010 : 6.40am
SHORT : Entry 122.42; SL 122.67; TP 122.17
25 pip loss, (trade retraced after gaining approx 22 pips)

EUR/JPY : 6pm-8pm
No evening trade signals triggered today.

4.
GBP/JPY : 6am-8am
Tue 9th March 2010
6.40am SHORT : Entry 135.01; SL 135.26; TP 134.76
(This trade could have gained up to 40 pips before retracing at 7.05am)
25 pip profit gained.
8.00am LONG : Entry 135.01; SL 134.76; TP 135.26
25 pip profit gained.
(This trade could have gained up to 30 pips before retracing).

GBP/JPY : 6pm-8pm
No even trade signals triggered today

TOTAL = ANOTHER 50 PIPS LOSS TODAY
TOTAL SO FAR THIS WEEK = 100 PIP LOSS

NB : I've reviewed all of these trades with an alternate 20 pip TP & 30 pip SL, & 4 out of the 6 trades would have been successful, with an overall 20 pips of profit for the day & a total so far for the week of 140 pips.

NIL

 

[NIL5605]

Trading : Wednesday 10th March 2010 - a successful morning !

Hi all

Today's trades, (with 25 pip SL & TP levels), were as follows :

1.
GBP/USD : 6am-8am
Wed 10th March 2010 : 6.30am
SHORT : Entry 1.4968; SL 1.4993; TP 1.4943
25 pip profit gained.
(This trade could have gained up to 80 pips by 8am this morning !)

GBP/USD : 6pm-8pm
No evening trade signals triggered today.

2.
EUR/USD : 6am-8am
No morning trade signals triggered today.

EUR/USD : 6pm-8pm
No evening trade signals triggered today.

3.
EUR/JPY
No morning trade signals triggered today.

EUR/JPY : 6pm-8pm
No evening trade signals triggered today.

4.
GBP/JPY : 6am-8am
Wed 10th March 2010 : 7.00am
SHORT : Entry 1.3456; SL 1.3481; TP 1.3431
25 pip profit gained.
(This trade could have gained up to 60 pips by 8am this morning !)

GBP/JPY : 6pm-8pm
No evening trade signals triggered today.

TOTAL SO FAR TODAY = 50 PIPS PROFIT
TOTAL SO FAR THIS WEEK = 50 PIPS LOSS
RUNNING TOTAL SINCE 1ST MARCH = 150 PIP PROFIT FOR THE MONTH

NB :
I've reviewed these two trades with an alternate 20 pip TP & 30 pip SL, & obviously both would have been successful, with an overall 40 pips of profit for the day. Therefore bringing the total so far for the week to 180 pips, & a running profit for the month of March of 310 pips. Interesting !

NIL[/b]

 

[NIL5605]

Analysis of currencies, TP & SL to date

Hi all

I've been taking a look at the performance of each of the 4 currencies, since 1st March, (7 days of trading), using my system :

Trading using 25pip SL & TP :
GBP/USD = 75 pips profit (5 wins & 2 losses)
EUR/USD = 0 pips (2 wins & 2 losses)
EUR/JPY = 0 pips (3 wins & 3 losses)
GBP/JPY = 75 pips profit (7 wins & 4 losses)
TOTAL NUMBER OF TRADES = 28
WINS = 17
LOSSES = 11

TOTAL of 150 pips over 7 trading days, averaging just over 20 pips profit per day.

Trading using 30pip SL & 20pip TP :
GBP/USD = 90 pips profit (6 wins & 1 loss)
EUR/USD = 30 pips profit (3 wins & 1 loss)
EUR/JPY = 70 pips profit (5 wins & 1 loss)
GBP/JPY = 120 pips profit (9 wins & 2 losses)
TOTAL NUMBER OF TRADES = 28
WINS = 23
LOSSES = 5

TOTAL of 310 pips over 7 trading days, averaging just under 45 pips profit per day.

Trading the signals with the 30pip SL & 20pip TP is the more successful at the moment .................. but it's early days !

NIL

 

[NVP]

Hi Nil

(well someones got to ask)................

please share with us what you are doing here...i'm always up for a good robust system as I have
a day job that limits my trading aspirations


N

 

[kraven]

Yes it would be more interesting and easier to follow if you disclosed your system.

 

[NIL5605]

Service - NEW !

Hi NVP & Kraven

Good to hear from you both.

Obviously I'm looking to generate a scalping system, & one of the indicators I'm using to help me is moving averages as I'm interested in the statistical analysis side of trading.

Hope this answers your query to some extent ................. it's still early days for my system, so bear with me as I develop & clarify my ideas !

NIL

 

[NIL5605]

Trading : Thursday 11th March 2010

Hi all

Today's trades, (with 25 pip SL & TP levels), were as follows :

1.
GBP/USD : 6am-8am
Thursday 11th March 2010 : 7.30am
LONG : Entry 1.4969; SL 1.4944; TP 1.4994
25 pip profit, (if this trade had been left to run it would have gained a total of 96 pips by 11.05am !)

GBP/USD : 6pm-8pm
No evening trade signals triggered today.

2.
EUR/USD : 6am-8am
Thursday 11th March 2010 : 6.25am
SHORT : Entry 1.3641; SL 1.3666; TP 1.3615
25 pip loss, (trade retraced after gaining approx 21 pips)

EUR/USD : 6pm-8pm
No evening trade signals triggered today.

3.
EUR/JPY
Thursday 11th March 2010 : 6.55am
LONG : Entry 1.2334; SL 1.2309; TP 1.2359
25 pip loss, (trade retraced to profit after a 30 pip loss)

EUR/JPY : 6pm-8pm
No evening trade signals triggered today.

4.
GBP/JPY : 6am-8am
Thur 11th March 2010 : 7.30am
SHORT : Entry 1.3510; SL 1.3535; TP 1.3485
25 pip loss

GBP/JPY : 6pm-8pm
No evening trade signals triggered today.

TOTAL TODAY = 50 PIPS LOSS
TOTAL THIS WEEK = 100 PIPS LOSS
RUNNING TOTAL SINCE 1ST MARCH = 100 PIP PROFIT FOR TWO WEEKS

NB :
I've reviewed these trades with an alternate 20 pip TP & 30 pip SL, & 2 out of the 4 morning trades would have been successful, with an overall 20 pips loss for the day. Therefore bringing the total profit for this week to 160 pips, & a running total of 290 pips profit, for the first two weeks of March.

NIL[/b]

 

[NIL5605]

Analysis of 2 weeks of trading

Hi all

I've been taking a look at the performance of each of the 4 currencies, since 1st March, so I'm now able to review a full 2 weeks of my system :

Trading using 25pip SL & TP :
GBP/USD = 100 pips profit (6 wins & 2 losses)
EUR/USD = 25 pips loss (2 wins & 3 losses)
EUR/JPY = 25 loss (3 wins & 4 losses)
GBP/JPY = 50 pips profit (7 wins & 5 losses)
TOTAL NUMBER OF TRADES = 32
WINS = 18
LOSSES = 14

SUMMARY :
WEEK 1 - 200 PIPS PROFIT
WEEK 2 - 100 PIPS LOSS

TOTAL of 100 pips over 8 trading days, averaging 50 pips profit per week ...................... week 2 results have really hit the successes here !

Trading using 30pip SL & 20pip TP :
GBP/USD = 110 pips profit (7 wins & 1 loss)
EUR/USD = 50 pips profit (4 wins & 1 loss)
EUR/JPY = 40 pips profit (5 wins & 2 losses)
GBP/JPY = 90 pips profit (9 wins & 3 losses)
TOTAL NUMBER OF TRADES = 32
WINS = 25
LOSSES = 7

SUMMARY :
WEEK 1 - 130 PIPS PROFIT
WEEK 2 - 160 PIPS PROFIT

TOTAL of 290 pips over 8 trading days, averaging just over 35 pips profit per day.

Trading the signals with the 30pip SL & 20pip TP is the more successful at the moment .................. but as I keep saying it's early days !

NIL

 

[trendie]

hi NIL5605,

Conducting tests is clearly a good start, so you can confidence in trading a system.
However, a few weeks data is not sufficient to deduce viability.

Another way to look at your results would be see many pips you are making per pair.
I say this because there are signal providers that show large pip-counts, but thats spread over several pairs. (for example, fxsignaltraders). When you look at the pips per pair per week, the results don't seem so impressive.

Also, the nature of the market can change, even subtly. (for example, my trading has undergone an almost scalping mode for past 5-6 weeks, because the normally good intra-day ranges seem to have been replaced by choppy moves, necessitating a slight change in approach)
Following on from this, you are getting markedly different results by just changing the SL and TP by 5 pips!! What if, you identify a good SL and TP now, but later the market subtly changes, and your results suffer? ie, How robust are your rules?? If you can get hugely different results by small changes in settings, I think you ought to be wary rather than excited.

All these things aside, wish you well on your search. Look forward to you evolving a robust and viable strategy. have a great weekend.

 

[NVP]

Re: Service - NEW !

Hi NVP & Kraven

Good to hear from you both.

Obviously I'm looking to generate a scalping system, & one of the indicators I'm using to help me is moving averages as I'm interested in the statistical analysis side of trading.

Hope this answers your query to some extent ................. it's still early days for my system, so bear with me as I develop & clarify my ideas !

NIL

HI Nil

with the greatest respect to your developing strategy it will not be an original one, so I would recommend you explain what you are doing here and the many experienced people that frequent T2W will try to help and give advice.......

dont worry to much about giving away your MA "secrets" as believe me theres plenty of space out there to share generic system information and then fine tune your own specifications......

it will save you years of effort ....

N

 

[NIL5605]

Hi Trendie

Thanks for your comments - I found them really constructive.

I definately agree that 2 weeks is too early to celebrate successes & failures, but even at this stage I'm finding it useful to break down the results to look at each pair, as some may 'cross-subsidse' others in my overall totals.

As I'm looking to develop a scalping system, I guess I'm benefiting from the current choppy conditions .............. so it will be interesting to see how I'm affected by future market changes.

The two sets of results are definately interesting in terms of the 5 pip changes & worth further investigation at this early stage - but I guess I do need confidence in deciding on a strategy & sticking to it !

Happy weekend to all traders !

NIL

 

[NIL5605]

Re: Service - NEW !

Hi NVP

Thanks for your comments .............. I definately agree that I'm not creating anything original .............. I'm not that clever !

I'm finding the feedback from fellow traders is really constructive & hope this will continue, so I will be looking to share more of what I'm doing with my ideas & use of Moving Averages, & what I'm trying to achieve, over the coming weeks, as I generate more results. I'm so impatient, but even I agree that 2 weeks of results are too early at this stage to or

NIL

HI Nil

with the greatest respect to your developing strategy it will not be an original one, so I would recommend you explain what you are doing here and the many experienced people that frequent T2W will try to help and give advice.......

dont worry to much about giving away your MA "secrets" as believe me theres plenty of space out there to share generic system information and then fine tune your own specifications......

it will save you years of effort ....

N

 

[NVP]

Re: Service - NEW !

Hi NVP

Thanks for your comments .............. I definately agree that I'm not creating anything original .............. I'm not that clever !

I'm finding the feedback from fellow traders is really constructive & hope this will continue, so I will be looking to share more of what I'm doing with my ideas & use of Moving Averages, & what I'm trying to achieve, over the coming weeks, as I generate more results. I'm so impatient, but even I agree that 2 weeks of results are too early at this stage to or

NIL

Hey NIL

whenever you want to share we are all here.......The knowledge I gained about my Corrie indicator went up exponentially once I released it on my thread and got feedback from the T2W gang.......

also 100% agree with trendie....always construct your system with a view on how to minimise loses rather than how to optimise returns.......(in other words the worlds best sports teams have a strong offense and an even mega-stronger defense )

NVP

 

[NIL5605]

Trading : Monday 15th March 2010

Hi all

Today's trades, (with 25 pip SL & TP levels), were as follows :

1.
GBP/USD : 6am-8am
Monday 15th March 2010 : 6.10am
SHORT : Entry 1.5156; SL 1.5181; TP 1.5131
25 pip loss, (although the overall trend today was short, with over 100 pips to be enjoyed !)
6.50am LONG : Entry 1.15171; SL 1.5146; TP 1.5196
25 pip profit.

GBP/USD : 6pm-8pm
No evening trade signals triggered today.

2.
EUR/USD : 6am-8am
Monday 15th March 2010 2010 : 6.50am
LONG : Entry 1.3742; SL 1.3717; TP 1.3767
25 pip loss
7.40am SHORT : Entry : 1.3741; SL 1.3766; TP 1.3716
25 pip profit, (the overall trend today was short, with over 100 pips to be enjoyed !)

EUR/USD : 6pm-8pm
No evening trade signals triggered today.

3.
EUR/JPY
No morning trade signals triggered today.

EUR/JPY : 6pm-8pm
No evening trade signals triggered today.

4.
GBP/JPY : 6am-8am
Monday 15th March 2010 : 6.50am
LONG : Entry 1.3753; SL 1.3728; TP 1.3778
25 pip profit, (this trade could have gained up to 42 pips before retracing).

GBP/JPY : 6pm-8pm
No evening trade signals triggered today.

TOTAL TODAY = 25 PIP PROFIT
RUNNING TOTAL SINCE 1ST MARCH = 125 PIP PROFIT FOR 9 DAYS TRADING

NB :
I've reviewed these trades with an alternate 20 pip TP & 30 pip SL. As per the trades above, 3 out of the 5 morning trades would have been successful = breakeven. Therefore this running total remains at 290 pips profit, for the first 9 days trading for March.

NIL

 

[NIL5605]

Trading : Tuesday 16th March 2010

Hi all

Trading Tuesday 16th March 2010, (with 25 pip SL & TP levels), was as follows :

1.
GBP/USD : 6am-8am
Tuesday 16th March 2010 : 6.20am
SHORT : Entry 1.5049; SL 1.5074; TP 1.5024
25 pip profit, (over 70 pips to be enjoyed if this trade had been left to run !)
7.25am SHORT : Entry 1.5040; SL 1.5065; TP 1.5015
25 pip profit.

GBP/USD : 6pm-8pm
No evening trades signals triggered.

2.
EUR/USD : 6am-8am
No morning trade signals triggered.

EUR/USD : 6pm-8pm
No evening trades signals triggered.

3.
EUR/JPY : 6am-8am
Tuesday 16th March 2010 : 7.05am
LONG : Entry 1.2350; SL 1.2325; TP 1.2375 - this trade moved within 1 pip of being stopped out.
25 pip profit, (over 100 pips to be enjoyed if this trade had been left to run !)
7.35am SHORT : Entry 1.2330; SL 1.2355; TP 1.2305
25 pip loss.
7.55am LONG : Entry 1.2351; SL 1.2326; TP 1.2376
25 pip profit

EUR/JPY : 6pm-8pm
Tuesday 16th March 2010 : 6.40pm
SHORT : Entry 124.05; SL 124.30; TP 123.80
25 pip loss

4.
GBP/JPY : 6am-8am
Tuesday 16th March 2010 : 7.00am
LONG : Entry 1.3570; SL 1.3545; TP 1.3595
25 pip profit, (this trade could have gained over 200 pips if left to run today!).
SHORT : Entry 1.3539; SL 1.3564; TP 1.3514
25 pip loss, (trade retraced long after reaching 23 pips profit).

GBP/JPY : 6pm-8pm
No evening trades signals triggered.

TOTAL TODAY = 50 PIP PROFIT
TOTAL THIS WEEK = 75 PIP PROFIT
RUNNING TOTAL SINCE 1ST MARCH = 175 PIP PROFIT FOR 10 DAYS TRADING

NB :
I've reviewed these trades with an alternate 20 pip TP & 30 pip SL, & 6 out of the 8 trades would have been successful = 60 pips profit today. Therefore the total profit for this week = 60 pips & a running total of 350 pips profit for the first 10 days trading for March.

NIL

 

[NVP]

hey NIL

better than a poke in the eye

hey mate...heres my FXcorrelator (indicator) laid across the week so far.....might be
interesting for you to see if your trades were with the trends or against them

also remember the Yen and GBP are much more volatile than the Euro and USD so you shuld be flexing S/L's accordingly ....and trading GBP/JPY .....thats like sitting on a rodeo bronc to get just 25 pips !

N

 

[NIL5605]

Thanks for the info NVP !