TurtleForex +408% 12 months trading

TraderFX65

Junior member
36 0
Re: Great minds think alike...:)

hey Joe

I've been fooling with FOREX SM's since the early 2000's.......they are fully integrated into my trading strategies and I could never look to trade any other way

I tweaked mine from some Free stuff published by Ferru_FX , TRO and a few others + the grandfather of Strengthmeters at the Metatrader home site where they talk about cluster trading and offer some simple strengthmeters for free usage and development

for me Strengthmeters are the window to the market as you watch the chosen currencies move from strength to weakness and back again ad infinitum

I notice some TV channels as well on your site .......thats interesting...are you streaming data during trading times ?

N

Hi Neil!

Yes, these are an incredible tool. After you learn how to read them properly (It took almost 2 year and over 1,000 trades before I really "got it") they are indispensable..A Strength Meter, with some fibs and pivots, and a little experience are all you really need to get and out of high percentage trades.

My site will have a free "Live Streaming Strength Meter" along with a live screencast of my trading sessions...just working out some audio issues, I hope to officially launch the site in a week or two, but will be adding to what you see as well.

Ended up taking a couple NZD positions that put the $100 Challenge account over 500%! Post to follow.

Have a great weekend!

Joe
 

TraderFX65

Junior member
36 0
Turtle Forex $100 Challenge Account Hits 500%!

Well folks I know I felt I was done for the day....twice...but when certain high-percentage set-ups present themselves I dont consider taking a shot over trading.

A beautiful NZD long set-up materialized so I decided to take a shot at EURNZD and GBPNZD....two very volitile pairs that I happen to love trading...if you trade these crazy guys for a couple day, trading EURUSD will feel like trading in slow motion...hehehe

Long story short...22.6 pips in 5 minutes...the set upp did not lie, both of these pairs have gone another 25+ pips in my direction since exit.

But what is really cool is that these trades put the TurtleForex $100 Challenge at 500%! Just 3 weeks ago we were at about 400%. Keep in mind folks these gains are being made trading just one micro-lot, which shows you dont need to over leverage yourself to make great gains. It only requires discipline, patience and good money/trade management.

Have a great weekend (again...hehehehe)

Joe
 

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TraderFX65

Junior member
36 0
August 5

Today was a bit of a battle, need to place some recovery trades, but all things considered, it was a good day!

Todays theme was long NZD and CHF and short GBP...they really gave me a wrestling match, but no single position went more the 40 pips against us and it just required some patience and some well timed recovery trades...I tried to look for pairs to "trade around" the other positions, but I just did not see anything so I added to existing positions

Overall got about 100 pips, so not a bad day! It was another day of leaving quite a bit on the table but with the way things reacted initially I felt the thing to do was to protect profit...plus who can complain about 100 pips?

Happy Trading!

Joe
 

TraderFX65

Junior member
36 0
August 5 - Part II

Got another one of those rare signals to short NZD across the board. I am getting more confident with my trading and was able to short NZD after being long earlier without reservation. I am very pleased with how I handled this trade and if you have followed my posts you know I am very critical of my performance.

It was a big day overall, about 175 pips total and a great start to the week!

Happy Trading!

Joe

Turtle Forex
 

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TraderFX65

Junior member
36 0
August 6

Markets were not offering much in early trading and I missed a USD buy signal...Just when I was thinking the day would see me on the sidelines, EUR took off and then offered a nice opportunity to short. I played this one a bit different and in hindsight could have been a bit more selective in my entries instead of shorting EUR "across the board". Had a little trouble closing out ECHF which caused me to accidentally close EU, overall it cost us about 9 pips, but with 47.1 pips overall on the "EUR Short" trade, let's not complain...

Happy Trading!

Joe
 

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TraderFX65

Junior member
36 0
Played a EUR short basket that worked out well for about 75 pips total...Then had that rare signal (which is not so rare these last few days) on GBP. That is a "Short across the board" signal, GBP not only gave the signal, but advanced to levels I have not seen on the SM (for GBP)....this made me cautious about going in two deep, so I played USD, NZD and JPY, took a quick 22 pips or so (4 minute trade) and closed them out. Great morning, 97.7 pips...

Happy Trading!

Joe

Turtle Forex
 

TraderFX65

Junior member
36 0
August 7

Forgot to attach charts...
 

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TraderFX65

Junior member
36 0
August 7 - Part II

Got to do the first live screen cast of a trade set up and with a little help from some poor employment numbers from Australia we got got to bag 95 pips! I took an AUD short signal well before news as AUD had run itself up in early Asian trading. Now I am always aware of news coming out but generally dont let it stop me from taking a signal...I always have a plan in place for trades that may not go my way, regardless of what drives it.

So, I will admit to getting a bit lucky on this...it could have gone the other way, and had it we would have taken the JPY buy signals, and you see how well they would have done...so I think we would have come out of this in good shape either way......but not sense in thinking about what "could" have happened...all I care about it what DID happen...we made 95 pips..

I will be keeping the screencast free for the remainder of this week. I hope you can swing by and join me! : Live Screen Cast

Happy Trading!

Joe
 

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TraderFX65

Junior member
36 0
August 8

Well guys I exited the AUD longs for bout 11 pips total. Since I took the time to explain why I was getting in, I am now going to explain the reason for an early exit..

My reason for entering this trade was based on a few assumptions

1) That AUD momentum would continue...that's normally how these 4 HR trades go, we buy into strength. This was the primary reason for entry.
2) JPY would weaken...it had already made its highs and appeared to me that it was beginning its cycle down
3) Continued USD weakness...USD had also gave a 4 hr sell signal, so I was very confident about getting a move in our direction with this one.

All we really got was USD weakness. AUD had hit 60 on the Strength Meter last night, retraced and never made it above 58 while we were in the trade. JPY Strength persisted.

AUD strength was the "theme". That is what I was counting on to propel the trade...any weakness in the cross should have only provided an extra "boost".

Now I truly think that thing will end up where we thought. But I also know anything can happen and on the 15 minute charts it appeared to me that it was not worth the risk to remian in the trade...so I took the 10.9 pips and called it a wrap. Even if this goes on to where I thought, better to err on the side of caution. There will be plenty of other opportunities.

Happy Trading!

Joe
 

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TraderFX65

Junior member
36 0
August 9

Well it had to end at some point.

After 19 straight winning days I have finally had to close one in the loss column. And of all currencies it was an AUD short signal, which up until now has been hands down the safest short signal to take.

I took the typical 15 minute signal, it took about 45 minutes and AUD made a nice move down and I felt that this would surely be another winning trade..with no market moving news due out I felt there was nothing to stop AUD from completing the typical pattern. However AUD showed not only resilience, but flat out strength...I was able to pull AUDJPY off the table for 10.5 pips but then AUD went on a run that showed no sign of letting up. This is why it is so important to have a trade plan. AUD had taken out its daily ranges on CHF, EUR and GBP...with only USD remaining, the plan was to wait to see if AUDUSD hit its range on USD and if so if we got a meaningful reversal then I was going to consider entering recovery positions and try to reduce losses and maybe even close with profit if we got a nice reversal. AUD did finally take out it range on USD...but it only paused a bit then proceeded to take out resistance on the Strength Meter. At that point I felt the best thing to do was cut the trade. My equity stop had we entered recovery positions was .0075 (3/4 of a percent)...we got out at -.59% which wound up being a good decision as AUD moved up strong and even without recovery positions would have stopped out at .0075.

Even though we lost on this one I feel I managed the trade well. My primary concern is protection of capital so that we live to fight another day and I feel I did a good job with that... Monday will be business as usual..:D

We still ended the week up on the Conservative Growth account and we are at +.78% for the month. The Challenge account is up 2.8% this week and 5.9% for the month...:D

Have a great weekend!

Joe
 

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TraderFX65

Junior member
36 0
August 11

Off to a good start. 79.6 pips. I have a short EUR bias coming into this week, but also took a JPY buy signal and USD sell signal...USD actually did do what I was looking for it to do, but I got no co-operation from CHF, which resulted in the only loosing trade of the day.

Happy Trading!

Joe
 

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TraderFX65

Junior member
36 0
August 13

Took a JPY long basket as it looked like the JPY was an orphan at the bottom of the Strength Meter. I took positions against EUR, GBP, AUD, NZD adn CAD...at the time CHF was moving up and I didnt want to tangle with USD with Retail Sales coming out. 4 winners, 1 looser (GBPJPY), netted about 30 pips on the trade total...we'll take it..

Happy Trading!

Joe
 

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TraderFX65

Junior member
36 0
August 14

Was a battle today. Too many trades to post charts so today I am just going to post results. About +58 pips

Happy Trading!

Joe
 

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TraderFX65

Junior member
36 0
August 15

Whew...a lot of trades today. Some were on the Challenge account, so the totals for the Conservative Account are about 50 pips, another good day. Again, too many trades to post charts. Another great session in the Live Trading Screencast where we picked up another 50 or so pips...and traders were treated to a nice clinic on how the trade the TurtleForex.net Method...:D
 

TraderFX65

Junior member
36 0
August 15

Whew...a lot of trades today. Some were on the Challenge account, so the totals for the Conservative Account are about 50 pips, another good day. Again, too many trades to post charts. Another great session in the Live Trading Screencast where we picked up another 50 or so pips...and traders were treated to a nice clinic on how the trade the TurtleForex.net Method...:D

Happy Trading!

Joe

Turtle Forex
 

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