Back from Two-Month Long Holiday

A warm greeting to all, just a quick update that I had a really long summer vacation as I prepared for the arrival of my newborn baby. And time flew by really quick and I am now a proud father of a two-month baby boy.

Since I'm back to work, I will be running my intraday daytrading systems again next week. I think I really need to diversify my forex income (away from long-term/ drawdown approach). I always want to grow my account via limited risk trades. I have already done all the hard work fine-tuning my systems in the past and all I need now is effort, discipline and patience.

Long EUR/USD, AUD/USD & Short USD/CAD

Closed EUR/USD at 1.4176 for +50 pips

Closed AUD/USD at 0.8105 for +35 pips

Covered USD/CAD at 1.0891 for +75 pips

We bagan trading for the month of June with three winners. +165 pips for the day.

Market Timing, US Dollar And Carry Trades

For the second day in a row, dts was able to make gains with new long positions in the yen-crosses market. I was able to claw back +280 pips in just two days, after the "mini blow-up" incident in late April. Despite positions going haywire that week, my account was well protected at all time, thanks to my strict stop-loss policy. And since I know my system well enough, I am going to up my ante bit by bit from now onwards.

A Profitable Start to New Month: 7 Intraday Winners

First daytrading report for this brand new month (Feb' 09). Had some brilliant results today. Many trade ideas were generated by the 'market sentiment' system, particularly in the early session, and they all winners. You can now follow my daily results here.

European Session
No. of signal recommendations: 6
End-of-session results: EUR/USD (+40 pips), GBP/USD (+40 pips), AUD/USD (+30 pips), USD/CHF (+5 pips), EUR/JPY (+60 pips) & CHF/JPY (+15 pips)

US Session
No. of signal recommendations: 1
End-of-session results: AUD/JPY (+5 pips)

Today's results: +195 pips.
Accumulated pips (Majors): +2105 pips
Accumulated pips (Yen-crosses): +1055 pips

My Simple Yet Effective Trade Ideas

Daytrading sessions resumed today. My method had immediately yielded good payouts with the yen-crosses pairs in the US session. Final results of +315 pips.

US Session
No. of signal recommendations: 4
Yen-crosses results: GBP/JPY (+195 pips), EUR/JPY (+50 pips), AUD/JPY(+70 pips) and CHF/JPY (0 pip)

100-pip System
No. of dynamic entries: 2
GBP/JPY & AUD/JPY

London Open Breakout System (Day 10: +751 pips)

Day 10. London Open Breakouts. Today's entries and exits are as follows.

Long EUR/USD 1.2610 with stop at 1.2550. Final profits: +40 & 31 pips

Long EUR/JPY 117.51 with stop at 116.91. Final Profits: +40 & 31 pips

Cumulative Results +751 Pips so far

EA screenshots attached:

Long EUR/USD @ 1.2610 for +71 pips

Long EUR/JPY @ 117.51 for +71 pips

Sterling Pound Fell More Than 500 Pips In One Day

The 100-pip ea program was able to setup its first trade of the month based on the AUD/USD signal. It did not enter in today's GBP/USD market which appeared to be under immense selling pressure.

US Session
No. of signal recommendations: 1
Major pairs results:AUD/USD (+15 pips)

Europe Session
No. of signal recommendations: 1
Major pairs results: GBP/USD (-70 pips)

100-pip System
No. of dynamic entries: 1
Potential profits:
AUD/USD +40 & 12 (Final results)

Kick Start 100-pip Trading with Monday's Winners

My 100-pip system seems to have a good record of producing profitable trades on the very first trading session of the week i.e. during Monday's Europe opening hours. The EA took on two CHF/JPY trades this morning, booking 40-pip profit and keeping another risk-free trade running at present.

• 100-pip EA Made Triple-Digits Gains
• Two Profitable 100-pip Trades on Monday
• 100-pip EA Daytrading Program Started Well This Week

100-pip System

No. of dynamic entries: 2
Potential profits:
CHF/JPY +50 pips (minimum target hit!)
AUD/JPY +50 pips (minimum target hit!)

100-pip EA
No. of auto-entries: 1
CHF/JPY +40 & Open

Day 5 London Open Breakout Winning Action

European currencies are continuously weighing down by the poor economic data. This morning, we briefly saw the sterling pound and euro at their lows - trading at around the 1.4800 and 1.2400 levels minutes before the London opening.

Despite that, I recommended to enter the Euro markets with the buying (long) setups.

• London Open Breakout System - Intro & Day 1

Here are the obtained results for today (on day 5):

Long EUR/USD 1.2472 with stop at 1.2412. Final profits: +40 & 27 pips

Long EUR/JPY 119.83 with stop at 119.23. Final Profits: +40 & 13 pips

Typical Live Metatrader results:


Cumulative Results +351 Pips (click here to view the system performance page)

Meanwhile, my other two systems, 100-pip and newstrader programs have been very quiet lately. I am glad to still be able to find some profitable setups.

100-pip EA Made Triple-Digits Gains

The 100-pip EA Program (available to ScoutForex DTS subscribers) was on form today and had produced over +200 pips during the US trading session. A great start to this week trading!

• Triple Digits Gains Monday ! Major Pairs +210 pips and 100-pip EA +229 pips

Here are the two profitable 100-trades:

Short EUR/USD @ 1.2890 for +40 & 90 pips

Short GBP/USD @ 1.5732 for +40 & 59 pips

Increase My Trading Arsenal Using the Newstrader EA Program

Normally, I only run my Newstrader EA program for the purpose of news trading:

There are hundreds of economic news releases every month in the forex market. Many of the major announcements are capable of moving the underlying currency pairs by 30 to 100 pips immediately after the news releases. In other cases, market also tends to move ahead of the news.

Today, I did something differently. I applied the program (i.e. set and forget operation) to automatically search for other possible trading opportunities during today's "active" London session. It managed to execute some good trades in both the EUR/USD and GBP/USD markets.

In fact, the program had captured the early part of today's 300-pip surge of the two European currencies against the US dollar. News: The US Dollar fell most versus Euro since 1999 debut.



The ea trading program came with stringent stop loss and exit strategies, thus I was pleased with today's outcome.

Expert Advisor Journal 30 October

I ran and entered with both the 100-pip program and newstrader program today. I was pleased with all three winning trades today. The entry levels provided below were executed by the Alpari UK live account server.

100-pip trade 1 (Europe Session)
Short EUR/JPY
Entry: 129.72 & 129.71
Exit: 129.31 & 129.18
Pips: +40 & 53

News trade 2 (News event: US Advanced GDP)
Short GBP/USD
Entry: 1.6484 & 1.6485
Exit: 1.6462 & 1.6472
Pips: +22 & 13

100-pip trade 3 (US Session)
Short AUD/JPY
Entry: 66.77 & 66.80
Exit: 66.40 & 66.03
Pips: +37 & 73

Total daily pips: +238 pips

Daytrading System Rebounded with Reasonable Gains

Yesterday, the daytrading system had a "hiccup" (Out of Rhythm and a System"Hiccup"). Many long-time ScoutForex readers may already know that I am a big fan of mechanical systems and am currently practising a fixed daytrading routine day in day out:

• Learn to Day Trade the Forex Market Using Automation

As the trading resumed today, the system immediately yielded good payout in the early trading session.

Europe Session
No. of signal recommendations: 3
All major pairs results: no trade
All yen-crosses results: +65 pips (up to a max +550 pips!)

100-pip System
No. of dynamic entries: 3
Potential profits:
CHF/JPY +40 pips (minimum target hit!)
EUR/JPY +100 pips (maximum target hit!)
GBP/JPY +100 pips (maximum target hit!)

100-pip EA
No. of auto-entries: 1

100-pip System Springs Back to Life with Winners

It had been a few days since we last entered with the 100-pip trade setups:

• Two Profitable 100-pip Trades on Monday (Oct 20, 2008)
  

The 100-pip system finally came back to life in today's markets. The immediate system winners were with the EUR/JPY positions.

Short EUR/JPY @ 118.05 for+40 & 6 pips

Meanwhile, the daytrading system was unfortunate to miss the USD/CAD signal. It would be nice for the 100-pip program to pick up the two potential winners.

Long USD/CAD @ 1.2870 for+40 & 77 pips (potential setup!)

News Trading Updates: "Hard-fought" Results in Difficult Circumstances

After having two consecutive system losses (which rarely happened) with Newstrader Program, the EA finally pulled back one positive trade with GBP/USD. I couldn't believe the trade entry level this morning was to be found in the 1.6300+ region.

The market was in heavy sell-off mode which started since yesterday evening. This was another volatile market that I had to deal with - no doubt about that! Bear in mind that I was using a conservative strategy which encouraged a minimal drawdown in the first place.

I couldn't believe I was under such immense pressure watching the price ticks after the release of MPC meeting minutes. With the EA in operation, I should be embracing a care-free attitude towards ea trading and accepting all end results positively. But I failed to do that on a consistent basis. Nonetheless, I was relieved to get some positive results in the end.

• British Pound At Lowest Levels Since 2003, BoE Voted 9-0 For Rate Cut, King Confirms Recession

News event: GBP MPC Meeting Minutes
Long GBP/USD @ 1.6392 for +25 & 39 pips

Two Profitable 100-pip Trades on Monday

A great start to this week trading. Two trades were completed by the 100-pip EA Program (available to ScoutForex DTS subscribers) in today's early London session. Both were profitable trades with a combined + 193 pips. My trading account was up by +13.2%.

• Fired Up Monday ! 9 signals and all winners in one session

Short EUR/USD @ 1.3476 for +40 & 39 pips

Short EUR/JPY @ 137.55 for +40 & 74 pips

Making Forex Pips Out of Dow Jones Extreme Swings

The Dow Jones Industrial Index had erased a whopping minus 400 points at the opening and was finally ended in a triple-digit gain of 400 points. A massive 800 points swing intraday.

I didn't follow stock charts these days. But as a forex trader, I did pay attention to yen-crosses / carry trades markets. During this financial turmoil, high yield currencies such as GBP/JPY, AUD/JPY, AUD/USD, NZD/USD, etc are showing a good price correlation with the movement of stock market indices.

When the Dow Jones was hovering near the breakeven level midday, I made my first two discretionary trades in the yen-crosses markets. Promptly took my profits after the Dow's first 100-point breakout run. I then reversed my positions after Dow hit 200 plus points. Exited immediately with reasonable profits for the second time. I decided to stop trading after that and were actually out of position during the Dow's final-leg surge to 400-point gains.



Most of the time, almost 90% of my forex trades are executed by my automated trading programs / expert advisors. Today, I made an additional gain of 313 pips manually using my discretionary skills and technical judgement with my forex chart systems.

Right Timing with Many Positive 100-pip Trades Tuesday

Today was the day I made a killing on the forex market. Here is my tradelist:


My account balance was up a whopping 22%. I liked what I see and didn't even wait for the 100-pip ea to close the remaining half-size position. At the end, I could have made more profits but just didn't bother any more.

100-pip EA system
No. of auto-entries: 3
EUR/USD +100 pips (maximum target hit!)
USD/CHF +40 pips (minimum target hit!)
EUR/JPY +100 pips (maximum target hit!)

US Session
No. of signal alerts: 5
Major pairs results: EUR/USD (+45 pips), USD/CHF (+45 pips) & USD/CAD (-70 pips)
Yen-crosses results: EUR/JPY (+65 pips) & CHF/JPY (+75 pips)

Finding Opportunities in Volatile Markets with NewsTrader EA & 3 Winners Out of 3 Events

Three positive results from three different news events in one day - I was one happy news trader in today's tough market conditions. The Newstrader EA program seemed to help and pick up all the right trades at the right time, yielding a total of 97 pips. The EA charts below show the breakdown of trades.

We'll be staying in touch with the following news trading opportunities next week:

Monday - CHF PPI, GBP PPI; Tuesday - GBP CPI; Wednesday - GBP Claimant Count Change, EUR CPI, US Core Retail Sales & PPI; Thursday - CHF Retail Sales, US Core CPI, TIC Long-term Purchases & Phil Fed Index ; Friday - US Building Permits & Prelim Consumer Sentiment

News event 1: US Trade Balance
Long GBP/USD @ 1.7071 for +25 & 5 pips

News event 2: CAD Trade Balance
Long USD/CAD@ 1.1646 for +25 & 7 pips

News event 3: CAD Employment Change
Short USD/CAD@ 1.1588 for +25 & 10 pips

Back to 100-pip Winning Way After Coordinated Rate Cuts by Central Bankers

I had not experienced anything like yesterday before. Markets were volatile and mostly in oscillating mode as hedge funds and investors were busy digesting the implication of coordinated rate-cuts by the central banks and doing many other things seemingly to increase volatility of the markets. I knew that it would be difficult for the 100-pip system to make money while the market movements were kind of wild and out of ordinary.

Anyhow, I resumed trading as normal today and immediately received a good setup from the program:

100-pip EA system
No. of auto-entries: 1
EUR/JPY +40 & 88 (maximum target hit !)

Oct 9: Short EUR/JPY @ 138.57 for +40 & 88 pips

Compared to two days ago, I was able to make a bigger and quicker profit (+128 pips) this time round with another two short EUR/JPY contracts and just under an hour of EA trading time.


I am so relieved and in the meantime will remain cautious, as there could be a few more tricks under the sleeve by the central bankers. I don't think this concerted rate cut is the last bullet in the Central Bankers' guns to be fired. Anyway, I'll continue to tackle these volatile markets day by day.