ICC Forex System testing

GMP

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Sep 4, 2007
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Tepid morning saved by a great 10 minutes after midday. May be the start of another big down move like yesterday but I'm cashing in before lunch - 3 figure profits is 3 figure profits.
 

GMP

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Sep 4, 2007
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EOD Pip Report:
£$ +34 +10 0
€$ +21
€£ -26
£¥ -35 +81 -31 -38 +37 +41
€¥ +69 +35 -30 -20 0 +36
$¥ --
total: +184
(post 3pm: +26)

Waited 'til 3pm before trading this afternoon, but it was still far more trouble than it's worth - down over 100 on the first 4 yen trades so got really jumpy trying to make it back. The 2 yen crosses were hovering around the signal zone for what seemed like ages until they finally crawled upwards, so that's obviously the sensitive zone for this current incarnation of the system. Either need bigger stops or a slightly earlier entry... or just need to accept it's not worth bothering with in the afternoon.
 

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GMP

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Sep 4, 2007
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I see it's the US stock markets slip-sliding again, which explains why it's going quite so mental. Probably a spot of hysteria over the N/S Korea situation.
...or more likely Obama making progress with his financial responsibility bill - the big boys don't like being told they'll have to pay for their mistakes in future!
 

GMP

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Sep 4, 2007
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Morning Pip Report:
£$ +6 +23
€$ +30 +6
€£ +8
£¥ +8 -11 +40
€¥ +53
$¥ --
total: +163

Can I resist having a go this afternoon...and messing it up again.
 

GMP

Active member
Sep 4, 2007
773
2
28
Morning Pip Report:
£$ +6 +23
€$ +30 +6
€£ +8
£¥ +8 -11 +40
€¥ +53
$¥ --
total: +163

Can I resist having a go this afternoon...and messing it up again.
Only one signal to ignore anyway, with maybe 20 pips on offer - very quiet couple of hours.
 

GMP

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Sep 4, 2007
773
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Morning Pip Report:
£$ -5
€$ +7 +18
€£ -5
£¥ -35 +5 -30 +5
€¥ +14 +18 +3

total: -5

tricky stuff today
 

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GMP

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Sep 4, 2007
773
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not sure why the €£ split this afternoon... Chancellor Osbourne's comments? (That's what happens when you put an ex-Black Sabbath vocalist in government y'see)
 

GMP

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Sep 4, 2007
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Most afternoons, if I dip in & out I get murdered. Today I seemed to be in the right frame of mind and managed to gather a few pips. Maybe it's a Blue Moon.
 

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GMP

Active member
Sep 4, 2007
773
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2 hours, +126 pips
sometimes the exit's too early (€£), sometimes it's spot on - still need that bit of discretion there
 

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GMP

Active member
Sep 4, 2007
773
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How expectations become self-fulfilling:
Thinking afternoon sessions are always dodgy caused me to exit way too early on £¥ & £$ here, even though there was no reason to in the charts. Slipped into pre-judging it rather than reacting to it.

EOD Pip Report:
£$ -8 +11 +2 -2
€$ +76 -8
€£ +11 -2
£¥ -1 +12 +21
€¥ -14 +51 -6
$¥ --

total: +143

That's four more hours market-watching, for 17 more pips! Could've been alot better if I'd just followed the system post-3pm... but then it has been costly before, so it's a matter of finding the right amount of extra caution to employ.
 

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GMP

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Sep 4, 2007
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currently short 3 out of 4 - €$ not quite fitting
Huh?:eek: Classic paranoia-inducing stuff - sudden spike in ¥ just far enough to take out my trailing stops then head back down to the previous comfy profit level. I panic and close the cable trade as it's still in profit, which promptly tumbles down further!
Only thing I can think caused that was Chinese car sales figures... or the gods hating me!
 

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GMP

Active member
Sep 4, 2007
773
2
28
Huh?:eek: Classic paranoia-inducing stuff - sudden spike in ¥ just far enough to take out my trailing stops then head back down to the previous comfy profit level. I panic and close the cable trade as it's still in profit, which promptly tumbles down further!
Only thing I can think caused that was Chinese car sales figures... or the gods hating me!
...and here's how it panned out, an object lesson in NOT MOVING YOUR TRAILING STOPS TOO BLOODY SOON and NOT PANICKING WHEN THINGS GO MENTAL
Two centuries and probably a 50 instead of a net 8 pips. Forex trading is truly sickening sometimes. Still, at least you're always learning!
 

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