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Forex Recap Using DoubleCross 9/10 - 9/12/07
This is a good group of days to watch the performance of the DoubleCross. In particular since there has been nothing all that stellar about the price action within the forex markets. If anything is has been fairly sideways on average range so not pristine conditions. That's good because when you get positive performance through these market types you know you're onto something quite good. Over the last 3 days, trading in the key timeframes (Asian Session, European Session, US Session) we have the following results on 144 tick charts: GBPUSD 4 Wins - 2 Losses EURUSD 3 Wins - 1 Loss AUDUSD 5 Wins - 0 Losses USDCAD 3 Wins - 0 Losses EURJPY 8 Wins - 3 Losses GBPJPY 6 Wins - 3 Losses (this one on 233 tick due to higher spread costs need bigger targets) That's about 76% winners overall with a fairly simple strategy. The keys are to not trade during the "dead zones" -- avoid the timeframes we show you not to trade forex. If we see any drop off in the win/loss it is during those times. The lull between the Asian and European session frequently gives a false entry. The European crosses without a corresponding Asian cross can work at times in the Asian session but not reliably enough. Stop trading as we near the end of the U.S. session, etc... Just the basic rules there. Over these three days the US Session had 12 Wins - 3 Losses (80%), the European Session 11 Wins - 3 Losses (78%) and the Asian session 4 Wins - 3 Losses (57%) so in this subset of trades you had plenty of activity especially in the Euro and US sessions. There's plenty of activity and it's not difficult to track and trade multiple markets this way. Obviously we wouldn't expect to see much trading through all three sessions - not many want to trade that much but pick your session and you'll get some good results. We are working on some automation possibilities as well to potentially help you when you are not able to monitor live. It is in development at this time. The video will walk through at least a couple of these markets just to give you a quick refresher and also show the indicator with the projection line that helps give an easy visual of a trades success. Video: http://www.netpicksllc.com/UMTDailyVideos/0912FX.html
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