Busy Bee

Wednesday turned out to be a very busy day with a lot of action in the markets and also with me trying to sort out Zulutrade. I’ve had to stop using the demo account I’ve been running on myfxbook as I never made note of the investor password needed to enable Zulutrade to copy all of my trades. I did plan on just switching between two demo accounts but that turned out to be a real pain and entries were differing between the two. So to keep  Zulutrade as accurate as possible, I’m going to continue to use the demo account which is linked to Zulutrade. I’ll add the account to myfxbook so I can track my progress from the beginning again. It’s a shame to have to stop using the first account as it was beginning to show some percentage gains.

Pip wise, Wednesday wasn’t so good. TUFXP threw up 4 trades and 3 of them ended up being losses! Painful. However, one of them was a rogue trade that I only spotted at the end of trading when I closed my charts and refreshed them. Due to the nature of TUFXP, even the smallest tick change can alter a PTP signal and it’s validity. It was a stern reminder to refresh my charts after a potential setup has formed to eliminate any false trades. Thankfully I managed to claw back 40 pips of the 75 lost using the very method that cost me so dearly last week. It’s ironic that I’ve gone straight back into a winning pattern now that I’m doing it solo again.

My research of Pip Range Charts is going well and I’ve settled on testing a method that I’ve found to be proving very, very handy. I’ve posted a few examples on FF but Pip range charts really aren’t in flavour in the slightest. It’ll be the New Year before I have any worthwhile data but it’s keeping me very interested.

It’s also becoming increasingly clear how much the breakout of the London session affects the New York breakout. London has provided 4 successful trades this week and NY has provided nothing. I’ve almost finished 2009 backtesting and then it’s onto 2008. After that I’ll keep testing until the end of the year and then introduce it in the New Year to help capture some extra pips. This week has obviously been a very good week for breakouts but taking advantage of these weeks are essential.

Thanks to everyone who has shown interest in following my trades on Zulutrade, hopefully by early December I’ll have reached the 30 trades required to show on there. I still need to explain how exactly Zulutrade works so I’ll get round to that over the weekend.

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    • Steve Thornhill
    • November 27th, 2009

    Hi Dubai,

    You probably won’t remember me from FXTT (AbsolutNut). Anyway good to see you are still progressing with your Forex trading. I have had to hang my Forex Trading hat up for now to concentrate on other things but I will return – probably next year.

    I am having to sell my copy of TUFXP if you know anybody who is interested.

    Keep up the good work,
    Steve 🙂

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