Trade Update - USD/JPY Short CLOSED

Update 04-01-08 7am:
After days of struggling and trading within a tight range, this pair finally hit my stop loss today. Not sure why, but the equity markets showed surprising strength today and helped the Dollar rally.

Total Pips: -540 (180 * 3)
Total Profit: $535.53

Update 03-26-08 4:45pm:
We now got the short signal for this pair on the A-MACD system. So that reaffirms my trade. I am hoping to be able to close at least 1 lot in today's session.


The Trade:
Once again going with the dollar weakness story. Shorting this pair.

System:
This trade was signaled mainly by the HAS system on 4 hour charts. But it was also confirmed by "My System" on daily charts.

Reason:
Dollar weakness story. With the equity markets moving down today, it will help. The HAS system shows multiple red bars across various time frames. AO is also red and about to cross 0. We also see that the Stoch, RSI and %R indicators are moving down from oversold territory.



Rating:
I would rate this trade a 3 star due to the following reasons:

• I was late in entering this trade based on HAS system which has made me miss atleast 80 pips.
• I am not sure how well my modification to OzFX system to enter trades work.

Entry & Exit:
Lots: 3
Entry (Short): 99.07
Stop Loss: 100.87
TP1: 98.57
TP2: 98.07

Trade Update - USD/CHF Short CLOSED

Update 03-27-08 12 noon:
The third lot hit the stop loss (just barely hit).

Lot 1: +50 pips
Lot 2: +100 pips
Lot 3: 0 pip

Total Pips: +150
Total Profit: $151.49

Update 03-26-08 2:30pm:
The 2nd lot closed for +100 pip profit. Final lot currently trading at +95 pips. Stop loss has been moved to BE.

Update 03-26-08 12 noon:
Closed the 1st lot for a +50 pip profit. Remaining lots currently trading at +65 pips.

The Trade:
My previous dollar trades are doing well. So continuing with the dollar weakness trend, I am going short this pair.

System:
This trade was signaled by both the HAS system and A-MACD system, both on 4 hour charts.

Reason:
The Dollar weakness story is working well so far. Plus this trade was signaled simultaneously by 2 systems. On the HAS system, the HAS indicator shows 2 red bars on multiple time frames. This confirms a strong trend. And on the A-MACD system, I have crossover below zero for both MACD and AO indicator. I also have 2 bars below 0 to confirm trend. And the trade is in the direction of the long term trend.



Rating:
I would rate this a 5 star. Signaled by 2 systems, the indicators are all aligned correctly, and price below 200 SMA.

Entry & Exit:
Lots: 3
Entry (Short): 0.9985
Stop Loss: 1.0145
TP1: 0.9935
TP2: 0.9885

Trade Update - AUD/USD Long CLOSED

Update 03-30-08 9pm:
After hitting the first TP, this pair has been trading in a range, and I decided to close this trade as the signal had changed.

Lot 1: +50 pips
Lot 2 & 3: -68 pips (34 * 2)

Total Pips: -14
Total Profit: $14

Update 03-26-08 12 noon:
We have closed the 1st lot for a +50 pip profit. The remaining lots are currently trading at break even.

The Trade:
The final Dollar pair I was looking to enter. As with the previous trades, I am going long this pair.

System:
The beautiful part is that this trade was signaled by both the OzFX system on daily charts and the A-MACD system on 4 hour charts at the same time.

Reason:
Dollar weakness against other currencies. According to OzFX system, the AC & AO have turned green. Stoch, RSI and %R moving up. And by the A-MACD system, both MACD and AO have crossed over the 0 line.



Rating:
I would give this trade a 4.5 star since it was signaled by 2 systems. This is a rare occurrence. Also the trade is in direction of the long term trend.

Entry & Exit:
Lots: 3
Entry (Long): 0.9178
Stop Loss: 0.9078
TP1: 0.9228
TP2: 0.9278

Trade Update - EUR/CAD Long CLOSED

Update 03-31-08 3pm:
Another one of my best trade. I just closed when it hit my stop loss. Earlier in the day, it had gone up as high as +350 pips and I moved the SL to +250 pips. But weakness later in the day caused it to re-trace back to hi the SL. Too bad I opened just one lot wit this trade. It could have been extremely profitable.

Total Pips: +250
Total Profit: $243.83

Update 03-26-08 12 noon:
This trade has been the star of the day so far. The position is currently up +230 pips and I have moved the stop loss to +100 pips to lock profits. Too bad, I opened just one lot for this trade.

The Trade:
This is a little different from my previous trade which was based on the Dollar weakness. Here I am following the long term trend and going lonf the Euro.

System:
This is based on the A-MACD system, but a variation. We do not have a full crossover of the MACD and AO oscillators. Instead, after a brielf pull back (red bars), the AO is showing 2 green bars above 0 once again. I am using this as an entry signal.

Reason:
As explained above, this is a variation of the A-MACD system to extract more milage. Price has been on a steady uptrend on this pair. And we recently noticed a brief pull back. So this would be a good time to enter this trade again to catch an upside swing.


Rating:
This is a new variation I am trying, so I am not sure how good this will work. Hence I will rate this trade a 3 star. The things going for it is its in line with the long term trend. And we just recently had a small consolidation.

Entry & Exit:
Lots: 1
Entry (Long): 1.5893
Stop Loss: 1.5693 (almost 200 since the ATR is large)

Due to the bigger stop loss on this pair, i have scaled back on the number of lots to 1 so I remain within the money management rules. I do not yet have a stop loss ofr this system, and will look to exit on signal reversal.

Trade Update - NZD/USD Long CLOSED

Update 03-20-08 9pm:
Finally hit the stop loss. Another big loss. And to think of it, I could have stopped this tarde for a lot lower since it was constantly trading in a range and showing signs of moving lower.

Total Pips: -360
Total Profit: $360

The Trade:
Continuing the dollar weakness pattern, I am going long this pair.

System:
This is based on the A-MACD system on 4 hour charts.

Reason:
Weakness of dollar. Price moving up. Cross over on moving averages as well as MACD and AO. We have 2 or more bars above 0 on both these indicators confirming trend.


Rating:
I rate this trade a 4 star. I was just a little late in entering the trade. Other that that the indicators seem to align up and its a valid trade in line with the long term trend.

Entry & Exit:
Lots: 3
Entry (Long): 0.8258
Stop Loss: 0.7958
TP1: 0.8108
TP2: 0.8158

Trade Update - GBP/USD Long CLOSED

Update 03-28-08 7am:
The third lot hit the stop loss and closed for no gain.

Lot 1: +100 pips
Lot 2: +100 pips
Lot 3: 0 pip

Total Pips: +200
Total Profit: +200

Update 03-27-08 7am:
The 2nd lot also closed for a +100 pip profit. Its been a real struggle with this pair. Hitting TP1, then reversing and almost hitting the SL before reversing once again and hitting TP2. The last lot is currently trading at +135 pips. SL has been moved to BE.

Update 03-26-08 12 noon:
Lot 1 closed for a profit of +100 pips. The pair then traded below my entry and has now moved back to +40 pip range. I have set the TP for 2nd lot to +100 pips.

The Trade:
Similar to my previous trade. The Dollar is weakening against the majors, and we are going long this pair.

System:
This is based on the A-MACD system on the 4 hour charts.

Reason:
We just got the signal for this trade. The moving averages have crossed over, and so has the MACD and AO. We also have 2 green bars in the AO above 0 which confirms the trend.


Rating:
I would rate this trade a 5 star. Its got all the indicators correct. Price is also above the 200 SMA which is in line with the long term trend.

Entry & Exit:
Lots: 3
Entry (Long): 2.0006
Stop Loss: 1.9906
TP1: 2.0106
TP2: 2.0156

Trade Update - EUR/USD Long CLOSED

Update 03-31-08 10am:
Finally the third lot hit my target point and closed out. This has been a good trade, and probably one of my best so far in terms of the win.

Lot 1: +50 pips
Lot 2: +100 pips
Lot 3: +269 pips

Total Pips: +419
Total Profit: $419

Update 03-26-08 10am:
The EUR/USD trades have been really good to me. I again closed the first 2 lots in this trade for +50 pips and +100 pips respectively. The third lot is currently trading at over +150 pips.

Update 03-25-08 3pm:
We got confirmation for this trade in the A-MACD system. So maybe now I can be double sure. As of now, I am up +15 pips per lot in this trade.


The Trade:
The Dollar is beginning to weaken again against other majors. So we are going long this pair.

System:
This is not based on any particular system. The closed it is related to is my system.

Reason:
After a brief rally, the Dollar is pulling back again against all majors. According to the OzFX system, the AC is green, but the AO is still red. And with the A-MACD system, we would have to wait for one more bar on the 4 hour chart to confirm trend, but we are very close.

So this trade is based on my system. The Stoch, RSI and %R indicators are moving back up form over sold territory. So we are going along with the ride.



Rating:
Since this is not based on any particular system, I am going to rate this a 3 star. Luckily for us, the trade is in line with the long term trend and above the 200 SMA.

Entry & Exit:
Lots: 3
Entry (long): 1.5616
Stop Loss: 1.5516
TP1: 1.5666
TP2: 1.5716