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Wednesday, April 30, 2008

Red Red April

What a month for me. The month was started with OzFx system on GBP/JPY hourly and 4 hour TF. Then I use the breakout again. The OzFx system did not work well. At first, I was just missed all the good signal and caught up in the bad ones. After that the problem was just me. I didn't everyday, but you know, a day with pretty bad trades could wound you pretty bad.

Last week I didn't trade much and I try not to trade too much this week ;P I will look for the OzFx signal and the breakouts. I also trade based on EMAs. That is all. Trade carefully all. ;)

Monday, April 21, 2008

About The Breakout Indicator

I put the link to download the breakout indicator on my previous post. The breakout system itself, as I said, use the high and low from the day open until 3 GMT. First of all, you must know which time your platform use, because some use GMT, GMT+1, or GMT+2. Second, the indicator cannot cross the period separator. For example, you cannot use it to find high and low between 22 GMT and 2GMT. Third, it actually start 1 candle after the begin time. See the picture below.

I set the begin time to 0 GMT (Day Open). But the indicator doesn't count the opening candle. It starts from the next candle at 1 GMT (See picture below). The blue shaded area is 57 pips away from the high and low.

Okay that is all. Just thought you should know:)

Breakout System Review

Hi guys, first of all lets call this one "end of day" breakout system because it use the high and low between 15.00 - 21.00 GMT. Go here for details about the system. Below is the picture from last week and the system was in a great performance. All breakout reach 50 pips except in Monday, but since I have a new notebook I can move my stop to BE ;)

Now lets take a look at the Panca-Eagle Breakout from This breakout system use high and low from day open to 2.30 GMT, but I prefer to wait until 3.00 GMT. The picture below use until 5.00 GMT. This system also did well last week if we just open position based on the EMA.

For this week I want to trade those 2 breakout system. And for you information, there is EA for Panca Eagle breakout. For indicator you can download it here, or go to

Sunday, April 20, 2008

14 - 18 April

As I said before, I didn't trade as much as I used too this week. The OzFx daily system gave good signal actually, but I only trade with the breakout system. I gain 75 pips this week. After 2 weeks of consecutive losses, 75 pips seems nice :)

It seems that I have to put aside the Oz hourly system for now. I want to trade the breakout system for the following weeks. I may only look for Oz signal in 4 hour and Daily time frame.

Okay that is all. Market will open in 12 hours so have a nice trading week guys.

Previous Week

Saturday, April 19, 2008

Daily Breakout

Hi guys. I'm sure you can find this system anywhere. Like any other breakout system, first we find the high and low. And this case the high and low would be from the previous day.

Looks very simple right? I add 5, 13, and 21 EMA on the chart above to see the trend. With 10 pips target and high probability I would trade with higher risk per trade and no fixed stop loss. I use the prev. day high and low indicator in the chart above. You can download it here.

Friday, April 18, 2008

No More Entry Stop For Breakout System

I got a new notebook and a wireless internet. So now I can check the market anytime I want :) Meaning that I don't have to set stop order for the breakout system. In addition, I can also manage my stop loss.

I used to set 50 pips target and opposite signal for the breakout system because I might be away from my PC for the rest of the day. It took a lot of manual testing until I decided with 50 pips target. But now, I prefer to open position only when the EMA agree and moving my stop loss to break even after 20 pips or so. Now I can say goodbye to 3:1 risk reward ratio :D

Breakout System

Sunday, April 13, 2008

7-11 April

I have been able to reduce my loss for this month. I use the breakout system again for 2 days because I had to leave my computer, and fortunately the system went good and give me 100 pips.

As for the hourly OzFx system, I am still trying to simplify my entry rules. I do this because I need to modify the system to fit my style. I will post the changes I made later.

There are other factors that made me lose using this system (or any system). It could be my money management, or I missed all the big move or it could be my emotion as I feel that I cannot concentrate enough lately.

Anyway, this week give me some confident for myself. For the week ahead, I may not trade the 4 hour EUR/JPY because I need to spare my margin. I will post other system too. That is all and have a nice weekend. :)

Previous Week

Thursday, April 10, 2008

IndoMer System

Has anyone heard this system? I had this indicator once, around December last year. I never try it and I have forgot about this indicator. Until yesterday, I visited this blog, The blog gives daily signal for GBP/USD.

As I understand it, this is a breakout system based on Pivot level, with 20 pips target and 40 pips stop loss. The indicator gives pop up alert to entry (breakout). What I like about this kind of system is that I don't have to think too much :P
Of course, putting some efforts will bring maximum result. The indicator is free. Visit the blog above to download it.

It seems that the system is pretty good. Might be an extra 20 pips for you daily ;)

Tuesday, April 8, 2008

Ups.. and Ouchhh!!

Here is what happened.. I got GBPJPY long since yesterday and I set the stop loss for 200 pips. Just now I woke up and I got that -200 pips.. And since I opened in 2 positions, therefore I got -400.

So it was a bad GBP news that moved the market. At first, I said ups. But 2 minutes after that I feel hurt and I said OUCHH!! ;P

Well, hopefully I won't try to revenge and just write this post. It seems that losses has been the main post of my blog, don't you think? ;P
Anyway, happy trading all..

Monday, April 7, 2008

31 March - 4 April

Second week was a mess! See the result on the side bar?? Yes, I lose all my pips from the previous month. But, I tried to review the chart and I shouldn't lose that much if I really follow the system. ;P I guess I still have to get used to with the system.

For this week, I will try to apply the system on 4 hour TF for EUR/JPY and AUD/JPY. After 2 weeks, I think I will be more comfortable trading 4 hour TF with those pairs. And personally, I think G/J is just being herself;P Maybe take some time with other pairs can cool her down.. Anyway, the rules for the 4 hour TF are the same. I will try to ignore the advance entry signals and maybe wait for a pullback before I open positions.

Oh, I use ODL MT4 for now because the IBFX server was down. Is anyone have the same problem? I haven't check it again but ODL has the same time as IBFX so it doesn't matter.

Okay have a good trading week all..

Previous Week

Thursday, April 3, 2008

Bad Minyu2..!

I trade pretty bad yesterday.. I entered based on the Heiken Ashi and not based on the AC and stochastic. I even entered 5 trades before I realized what I'm doing! The purple box was where I made the trades resulting about -350 pips:(
So I add OsMA and here is what it's look like. The OsMA suggest that it's still uptrend. I know..I could have still end up with some losses, but not as much as -350! So, I use OsMA now to filter the entries.
But, I'd still use the HAS. It's very useful to see whether the trend is still going or not. Here is the latest rally from GBP/JPY. As you see the HAS told me, "Don't short it yet!" ;)
Okay that's all..Happy trading and may the green pips always be with us..:)