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.

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Category: Forex trading, Trading