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Arco's Weekly Round Up
Hello Friends
A great week on the LincolnFX blog - almost totally green apart from one small loss on the British Pound, and a great month with a total of +1698 pips. (I haven't added in the 2 overnight Friday trades totalling 384 pips to my blog display total as both my orders got triggered Friday night while I was in the land of nod), so the months total pips in the display is +1314 and the last 3 months average +1212 pips.
Last Mondays 'Weekly Trade' set-ups came good with 3 profits, Aussie was the best trade of the week with around +250 pips over 2 trades. The British pound short trade turned a day later than I expected giving the only minor loss of the week (50 pips), but I am already back in this trade now and currently showing +109 (this profit is also not added in the monthly pips total). I hope to be able to add some more trades to the pound at a favourable rate and I will be explaining this ASAP.
Join me next week as I do battle with the FX pairs
Regards - arco
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Member
Yeah well I am expecting a further weakness in the Euro this week as the Eurozone economy is not showing much in the way of improvement compared to the other major currency zones. Will be watching Arco for good entry and exit zones. But will be having a light week on the Forex markets this week as there is a lot of uncertainty about the recovery and a lot will depend on which currency is seen as a safe haven.
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Hello Friends
I ended up +246 green after a roller coaster ride on my weekly system with which I have been trading the Gbp.Jpy/British Pound. Several stop losses got hit with the wild gyrations of the early week leading to initial losses. The markets movements have clearly changed and due to this I have now taken some additional measures that should minimize the risk with these trades. These will be implemented from next Monday, and this will mean the ‘Weekly Signals’ with entries and targets will appear on the blog later than normal because I will be waiting for additional confirmation.
Best trade set-ups of the week were GBP.JPY 150 pips, EUR.JPY scalp (max 150 pips) and USD.CAD scalp (Max 118 pips)
I also looked at potential trades in Gold, Silver, Eur.Gbp, and Usd.Jpy, none of which have set up properly as yet. I will look at these again and any others over the next few days.
New charts have been placed on my forex blog
Join me next week as I do battle with the FX pairs
Good weekend all - Arco
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Hello Friends
The week ended up in profit overall and we had a few nice trades, but didn't manage a totally green week.
A few of the more experienced traders jumped on a couple of potential trades that I mentioned early in the week and made some very fast and worthwhile pips so congratulations to them on that success.
Monarch ‘set and forget’ trading - testing
I have dusted off the Monarch system which seems to perform well in choppy markets. Still trialing this on GBP.JPY although a few have taken the Monarch by the horns and bagged some pips.
Thursdays signals gave Long +50 on set and forget,
Continuous movement Long +124 (member monitored).
Short +12 (member monitored) (-50 set and forget)
Set and forget – zero profit/loss. Member monitored Maximum +136
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Fridays signals Long (Weak) gave +40 (Member monitored). S&F -50
Short (Weak/Medium) gave +22 so far. Trade incomplete.
None of the Monarch profits/losses have been used in the monthly figure
Next week I will also introduce a 40/80 Euro system into the 'weekly signals' group.
Euro trade
I got 50 pips as the price retraced back to the potential shorting/reversal zone around the 1.4900 level as mentioned yesterday Now the price is hard against the resistant Kumo above, although there may be some potential for a test of the mini H&S neck-line. Pattern-wise a 2nd Tower Top has appeared on the Daily Chart, and there appears to be a clear 3 waves down and a 3 waves rise so this could indicate 1 more wave down in 5 waves. I dipped a tentative toe in the water at 4900 and 4920. At one point both positions were in profit +30 and +10. Experienced traders may consider scaling a few in as the risk/reward is very low at this point. Inexperienced traders may like to hold off for confirmation.
USD.JPY
This trade was the disappointment of the week, with a loss of 65 pips. I only took a couple of small starter positions which were at one point up around 35 pips and looked to be headed for the moon. But something spooked the pack and price retreated. I saw 30+ and should have taken a portion off. That in hindsight was definitely a missed opportunity. I did end up with one trade still on which had a lower stop, and that’s still live. Lets see what happens on Monday.
Aud.Jpy
Some traders made a move at the original suggested entry …. Quote - “once I see a reversal pattern in the grey zone around about the 83.70 mark, (stop 84.20).
I left a sell stop in anticipation which got triggered and I did take a few off at +50. Small position still running and just one pip the green. Monday will give more clues to future movements.
More charts are available on the 'weekly round' page of the blog
GTA - Arco
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Member
Hey Arco,
I'm interested in the set it and forget it trades, as time is a bit limited for me right now, how many trades a week are you averaging with your monarch system?
Thanks,
Craig
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Hi Craig
Set and forget
Monarch could be up to 1 trade per day (1 direction, or occasionally short and long - not OCO). Still testing for optimum parameters. May work well with trailing stop, or set TP
System Euro 40/80 and System Loonie Monday (Usd.Cad) - Usually one trade in each direction per week on a Monday, occasionally an additional trade depending on signals.
rgds - arco
Monarch looked good over a ten day period back test. Proof of the pudding is in live testing. Testing again this week.
Originally Posted by Craig3215
Hey Arco,
I'm interested in the set it and forget it trades, as time is a bit limited for me right now, how many trades a week are you averaging with your monarch system?
Thanks,
Craig
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Arco, am debating whether to give your system a trial run but I am in Europe and was wondering if the time difference is going to disadvantage me. I take it you are working and aiming trades during NZ/AUS non sleeping hours?
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Originally Posted by blackcap
Arco, am debating whether to give your system a trial run but I am in Europe and was wondering if the time difference is going to disadvantage me. I take it you are working and aiming trades during NZ/AUS non sleeping hours?
Hi Blackcap
I dont think it will a problem for you. I have members now from all over the world, and I'm trying to cater for their various requirements. I've had to change how I do things to make it better for members needs. Fortunately I've got admin, oother wise I;d be working 24 hrs a day
I work the early Europe session, so you should be able to get trades from that, plus long term trades, and because of so many requests I've dug up some of my old mechanical models for punters who only want to place an order and walk away. I call these set and forget, and I'm adding more as I sort them out and check the RR is still OK.
rgds - arco
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thanks Arco,
You may well see me on the subscribe list shortly. Not saying when as I dont want to identify myself on here
HOpe it goes well for you.. have followed your threads and charts with a lot of interest the last few years.
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Originally Posted by blackcap
thanks Arco,
You may well see me on the subscribe list shortly. Not saying when as I dont want to identify myself on here
HOpe it goes well for you.. have followed your threads and charts with a lot of interest the last few years.
another 3 people signed up overnight........you're not N.Leeson are you
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