265 PIP profit – DDFX trades – 1st to 5th August 2011 on GBPUSD
Another very satisfactory week for the DDFX trading system. However, I am aware that I may not be always consistent on my entries and/or exits. I think some of this comes from gut feeling after watching the markets for many years.
Anyway, here are my thoughts and analysis as I traded the GBPUSD (cable) using the DDFX Forex system using the 1 hour charts.
My first trade was when the price action broke the low of the first red candle. I was aware that there was only one arrow even though the trend markets were in sync. For some reason I wanted to wait and put an order to sell at below the low of the first candle.. and this happened a few hours later. I got in at 16388 and closed out at 16312 for 76 pips. At the lowest point, there was almost 150 pips for the taking.. however, there was no exit at that point so I waited until there was one. If I had held the trade until the break of the yellow line, I could have got a few more pips. Nevermind!
From here, you can see that there are two points where there were red arrows. I didn’t trade these. The first one, the trend indicator was blue and I like to enter after seeing more than just the one arrow. The second red arrow however, the trend indicators were in the right direction.. however, once again, just the one arrow didn’t warrant a trade for me.
My next entry was when all the indicators appeared. 3 signal arrows to go long and the trend indicators lined up. I got 62 pips on this trade.
2 hours later, I got a short entry. I didn’t short after the first candle as there was just the 1 arrow despite the trend indicators lining up. After I saw the yellow short arrow indicator I went short. I got out when I saw the first trend indicator change colour which also coincided with the price bars colour change. This was a nice 85 pips!
I felt really unsure about the last trade as it was coming up to the weekend. Not only that, I was away from my computer and ideally would have entered after the appearance of the 2nd long arrow. I missed around 40 pips from my ideal entry but still managed to get 42 pips when the trend indicator turned red and the price bars changed colour.
Overall, a very successful week.. a combined pip count of 265 pips!
To learn more about the DDFX Forex Trading system click here.
Hi there I have been following this sytem for a week and finding it an above average system (at last) I have read your comments and your trading journal re DDFX and have found it interesting.To date I have only done 3 trades with DDFX and all winners to date. Keep up the good work and I look forward to reading more of your DDFX trades
Cheers
Bruce
HI Bruce, yes, i do find that this is a good system and so far has been kind to me. Strangely enough, the main website for DDFX has disappeared.. not sure what’s happening.
I’ve been quite busy with other stuff and will update where I can!
Hi thanks for your reply. I now have 5 trades under my belt all winners. The euro/usd has traded all night in a sell mode after I went into buy mode but its clawed its way back to my entry point and hopefully tonight our time I will get my 30 pips!! As I said I find this system interesting and good to use.
Dont know where the site has gone I will go take a look.
Cheers
Bruce
NZ
Just to let you know the euro climbed right out and I got my 30 pips..just!! So thats 7 trades and 7 wins (took another gbpusd also and got 20 pips tonite on that pair
Can be too long before lady luck runs out !!
Cheers
Bruce
Bruce, well done with the trades! August for me is looking really good so far for me using this! Oh, the site came back last night, perhaps it was just some maintenance work or something!
This sytem is great. Another 20 pips tonight (here in NZ) on the eurousd. So 9 trades and 9 wins. Hell some kinda miracle for me !! So I will come back at the end of the month and let you know how it pans out. This system does work well for me. Finally someone came up with an excellent trading system. I have never been into EAs they just don’t work yet they are pumped out in the market place everyday. Cant believe they suck so many people in. If they were that good why do all the financial institutions have brokers/advisers working for them. Thats my 2 cents worth anyway
Cheers
Bruce
Hi Bruce, keep up the good work! Yes, there sure are a lot of EAs and I personally don’t like the automated ones but if you are around to watch and trade the DDFX system, it does pretty well overall.
Most people don’t appreciate that all systems have losses as well as wins and the idea is more wins than losses. However, saying that, the DDFX has definately more wins than losses! Keep me informed!
Alan 🙂
Alan I did 1buy trade and then realized the golden line was above but I let it go and I still got 20 pips so whats your thoughts on the golden line? Maybe I just got lucky have you any thoughts on the subject?
Cheers
Bruce
Hi Bruce,
I’m using Version 3.0 rather than the new version as this works for me. The Golden Line is just a Moving Average line and ensures that you trade with the trend. However, I’m comfortable to also trade pullbacks and I tend to be quick in bringing my stop in and happy with the results so far.
Alan
Hi Alan well I took two trades tonight eurousd and gbpusd 20pips per pair so got 40pips without any trouble.
This system is very good and I am impressed. So thats 11 trades and no losses . One must bear in mind that I only take 20 pips at a time and have never let the system run any great length of time.I will try that tomorrow and head for say 50 plus pips
Hope your going along ok
Cheers
Bruce
NZ
Bruce,
I’m holding out as long as I can until the system tells me to get out. It’s still a positive system so far from my end and last week, was a paltry amount of profit.
GBPUSD and EURUSD, I’ve got a good entry in both and still holding.
Alan
Yes I saw what the markets did. I wish I had held out longer. For me Id be up til about 2am as we are about 12hrs ahead here and I had work commitments today.One pof the woes of living on the other side of the world is the time differences.I am going to start using a trailing stop and see what happens or I also use Trade Manager which allows you to set up different TPs and SLs . Each time you get to a preset level the next level starts and so on so will see how that goes. Have you heard of Trade Manager. Worth a look if you havent.
Pleased your hanging in there !
Bruce
I got 52 pips for GBPUSD and 20 for EURUSD. However, GBPUSD has fallen further now… nevermind! Still can’t complain with profits though!
I’ve never heard of Trade Manager, I’ll check it out. Thanks!
I now have a long order for EURUSD… lets see if that triggers!
Alan I got 20 pips on eurousd again but like you the gbpusd has turned but I stayed in it all nite and hopefull it will turn around when the market opens tonite my time.Usually does for the first hr so will see what happens. So 12 winners and 1 pending !! Cant complain
Trade Manager is quite cheap to buy so worth a look anyway
Bruce
I meant to say there is a video you can watch on the TM site which gives you the lowdown on how it works. Worth watching
Bruce
Bruce, the GBPUSD has turned good for you! I looked up Trade Manager on YouTube but it was in German.
You’re doing really well with DDFX, do you use anything else?
Alan try http://www.forextoolshed.com . The owner Lou is good to deal with and answers any qs in a matter of a few hrs.
Have a look at the video its a few minutes long but worth it.
No I dont use anything else. I do have MBFX but it wasnt an option to run it with DDFX as everything was getting out of sync so to speak. DDFX is a good stand alone system tho.
My friend used TM on FFXD today (he lives in Russia) and said tonite on skype that it worked fine.
I have 4 trades running at present. Doesnt look the best all trades have gone against me at 10pm NZ time. Will check in the morning and let you know what happens. I see my first loss(es) comming up…doh !! Oh well 12 wins in a row and something has to give.
Cheers
Bruce
What a disaster !! I took 4 trades thursday night and all losses euro/jpy gbp/usd gbp/jpy and usd/ghf. So 16 trades 4 losses. I could have gpot out of the trades earlier but decided to let things run to see what would develop.
Got some money to makeup now !! Oh well thats the nature of the beast !! Not a good week trading for me.All trades started out well but then a sudden turn but it took 2 days for the last 2 pairs to hit SL
Bruce
Hi Bruce,
I found this weeks trades nice and easy and very profitable. I only tend to look at GBPUSD and EURUSD and also GBPJPY and EURJPY. I’ve not put any other Forex pairs through it.
There wasn’t an entry for GBPUSD on Thursday from what I can see.. are you trading the lower timeframes?
I’ve put this weeks results on the blog.. 239 pips in total 🙂
Hi Alan well your streets ahead of me 239 pips.Im in the red !!! No I only use the 1hr timeframe. Very lousy week for me after all the wins but thats trading.I am going to eliminate a couple of pairs and keep it easier. I got carried away too much and pushed the envelope so to speak and ended up losing so another lesson learnt…the hard way but the only way to learn!!
Will let you know how I go this week
Bruce
Bruce,
I’m trying to adhere to the less is more rule in trading… it seems that the traders who look more at the longer timeframes make the most money! That’s what I’m trying to get to but it is difficult… short term is more fun!
Alan I would agree with you but long term can be a long time comming. Seems to take forever for something to happen !! I havent traded this week so far I havent like what the markets have done earlier and as I trade 1hr most of the time I havent really thought there was much opportunity but hopefully tonite here it will be better.Did you look at TM and follow the video??
Bruce
Took 20 pips on eurousd and used the TM system with DDFX. Got the first 20 easily but it went up so fast it didnt take the second 20 TP. Obviously when it shot up the system was too slow to react or the broker server was too slow, not sure which . Anyway got 20 pips my first trade for the week.
Gold prices fell around the same time so it could well have been a reaction to that also.
Cheers
Bruce
Hi Bruce,
I’ve not used TM as yet but will do. The video I found was in German and not being a native speaker, it wasn’t useful to me.
I’ve found that once you discover what your trading personality is like, find a system that suits that is key. Also ones attitude to money is important… they were lessons for me.
Good that you’re back on your winning track again! 🙂
Finding it difficult to find an entry I have only taken 20 pips since Monday. Maybe being to cautious and following the rules but I don’t think the markets have been good this week.
I’m asleep when some possible entries occurred.
Bruce
Tried a sell position on GBPJPY last night as the setup was bang on. Soon as I got in it went up took me out for 20 pips and then fell 40 odd points….. needless to say I lost so 1 win and 1 loss this week. Not a good week for me.
Bruce
Bruce, i set audible alerts throughout the night to let me know when i trade is triggering. You kinda know the levels where the price needs to be to set them.