Recent content by tomorton

Tuesday Close update - Closed AUD/NZD long. Gain = +78 pips r:r = 1:1.4 Win rate = 1/1 (100%) AUD/JPY short running New Smash Day set-ups - GBP/AUD, bearish GBP/NZD, bearish NZD/CAD, bullish Great weather in England today I think.

Monday Close update - AUD/NZD long running - should be closing this tonight (barring any massive collapse in price) AUD/JPY short triggered Other JPY pairs also triggered by Smash Days Monday - CAD/JPY NZD/JPY USD/JPY EUR/JPY, GBP/JPY not triggered New Smash Day set-ups - EUR/GBP, bullish...

Friday Close update - AUD/NZD long running It's the turn of the JPY to be sold off so most JPY pairs show bearish Smash Day set-ups. As ever, setting orders to rest through a weekend of troubling geo-political events plus the volatile Asian opening can be nerve-racking. Have a nice weekend.

Wednesday Close update - AUD/NZD long running CHF pairs listed yesterday failed to print Smash Days. New bearish Smash Day set-ups printed for EUR/CHF, GBP/CHF, GBP/JPY Onwards and upwards!

Tuesday Close update - AUD/NZD long running Almost the full range of CHF pairs show bearish Smash Day set-ups - AUD, CAD, EUR, GBP, NZD, USD. If anyone had thought to expand this strategy to the US indices, the Dow, Nas and S&P would all have longs running, all showing decent profits so far...

Finally got a Smash Day entry, long AUD/NZD. Not one of my favourite pairs as margin is high and long-term volatility low, plus right now long on this is a very counter-trend position so my position size is small. Onwards and upwards!

Yes, that is a danger in depending on MA's. Ideally, the trader should have rules to cover managing winning trades - getting out of a profitable trade is the toughest decision in this game.

By the way, all the NZD set-ups printed Inside Days yesterday, which is perhaps to be expected on a Good Friday, so no orders should have been triggered anyway. Next review of charts will be Tuesday night. Happy Easter.

Yesterday's session has generated 6 Smash Day set-ups, all featuring NZD weakness - I personally avoid Australasian pairs due to high spreads (except for their one major, AUD/USD). Some would be with-trend entries. NZD pairs are mostly low historic volatility but NZD/JPY and NZD/USD are very...

Smash Day set-ups thin on the ground this week so far, and none seem to have triggered. This morning I have a buy order set at the high of USD/JPY, which printed a set-up yesterday, 16/04. This would be a very counter-trend position if the order triggers today so there are some optional...

Cheers. You're absolutely right about the "bottom line" of course. And the bottom line is what counts. I think I'm going to have to relegate this one idea to the "interesting but unhelpful" drawer. Best wishes.

Abnormal market behaviour is usually obvious from the naked price chart alone. But a MA can provide confirmation yes. And the conclusion of the on-chart MA would normally be avoid trading, whereas most new traders want to use off-chart indicators as entry and exit signals, which will work badly.

Yes your observation is not wrong - buying high is expensive - but expensive and cheap have no relation to how markets work. Buying as the high is breached by a rising price is the maximum price available you could pay using the system but it's also the best indication that price will go higher...

Of course, v3 of the strategy would involve forgetting about the high and low, just bracketing the close with a buy order and a sell order - setting a buy order at the close + 0.5%, and a sell order at the close - 0.5%. Same SL and TP distances. Higher probability of early entry so greater...

Have to admit it, the first version of this strategy just will not perform. The win rate is very good but the wins:losses ratio is just too weak. So I have scaled it back. Running this on the S&P as a trial - still setting a buy at the high plus a sell at the low every night, but with a TP 0.5%...