JAG fx - Use of Daily Charts

[JAG fx]

Hey fellow traders,

Thought I would share my daily strategy with you. This is based on end of day data only, on the EUR, GBP and JPY. I may add other pairs as I go. Obviously I will attempt to get the majority of my trades called live to give the calls some credibility. As I use the CMS platform with VT charts (bid price), the end of day is at 5pm New York time, which is 7am local for me.

I can't give you past results, as they mean nothing to you and are not able to be verified, however I can give you an idea of where I am at, as I have to start somewhere. Obviously I won't count these results, but it will show the time in trade, an idea of risk etc.

All times and dates will be based on the charts. I will also take the spread into consideration when giving results. Also all prices based on the bid price just to keep it simple.

Date started : 26th June 2006

EUR - no current trade.

GBP - short @ 1.8468 19th June. Stop originally @ 1.8559 (-91), but now @ 1.8313

JPY - bought @ 115.22 22nd June. Added to position @ 115.77. Stop originally @ 114.35 (-87), but now @ 115.75 for both positions.

Results:

EUR : 0
GBP : 0
JPY : 0

TOTAL : 0

[wernerv]

Happy trading.

Regards, WernerV.

[JAG fx]

Update 27th June

New order for the EUR. Will sell at 1.2560, limit 1.2551. Stop at 1.2618, if done. This order only good for the next 24hrs unless otherwise stated.
The other two trades are still open. Cheers.

[JAG fx]

Update.

The EUR trade was filled at 1.2560 as above. It has since moved a certain distance for, so the stop has been moved to 1.2557 (break even). I think this will be taken out very soon as it has already come very close. That's it for now. Cheers.

Date started : 26th June 2006

EUR - short @ 1.2560 28th June. Stop now @ 1.2557.

GBP - short @ 1.8468 19th June. Stop originally @ 1.8559 (-91), but now @ 1.8313

JPY - bought @ 115.22 22nd June. Added to position @ 115.77. Stop originally @ 114.35 (-87), but now @ 115.75 for both positions.

Results:

EUR : 0
GBP : 0
JPY : 0

TOTAL : 0

[JAG fx]

Update.

My EUR short was closed at break even as expected. Actually occurred nearly 24hrs prior to the big move up. That big move also closed my current JPY trade for an overall profit of 47pts (info only) So now, just have to wait for new direction and new set ups. Patience is required when trading off daily charts, that's for sure. Cheers.

Date started : 26th June 2006

EUR - No current trade

GBP - short @ 1.8468 19th June. Stop originally @ 1.8559 (-91), but now @ 1.8313

JPY - No current trade

Results:

EUR : 0
GBP :
JPY :

TOTAL : 0

[JAG fx]

Update.

Not much happenin with my trades now that the USD is losing ground. Just need some pullbacks to give me entries now. My previous GBP short was stopped out at 1.8313 for a 151pt profit (info only). So now there are no open trades and I am starting with a clean slate. Cheers.

Date started : 26th June 2006

EUR - No current trade

GBP - No current trade

JPY - No current trade

Results:

EUR : 0
GBP :
JPY :

TOTAL : 0

[JAG fx]

Nfspips,

It is only early days and it may be some time between trades, but there should be more profitable ones than losing ones. Once we get on a decent run (either way), I should do okay. The indicators I use are just based on swing charts (higher highs etc) and comapring to the previous range. No traditional indicators as such, just a little math and a very clean looking chart. I do keep notes at the end of every day on each pair, so I can see the set ups coming. I'm actually looking forward to something happening. And like any system or method, there will be losses, but they will be contained and fairly small in the scheme of things. Cheers.

[JAG fx]

Update.

This is exciting, isn't it. Nothing is happening as I am still waiting on set ups. Obviously a bit of patience is required. These nothing posts are just to let you know I haven't jumped ship. Cheers.