18th July 2011 - DDFX Trading System - GBPUSD and EURUSD

As I've just started testing this system, I've not made any entries as yet but I wanted to talk through the trades which could have been made on Friday if I had started testing it then... this would have been the first set of trades.

The author has templates to trade with on 15 minute, 30 minute and 1 hour timeframes and I am going to look at the longer 1 hour time frames (generally, the longer the timeframes, the greater chance of success you have as you're not concerned with noise which you see in the smaller timeframes)

Also, it is recommended to trade this only on the GBPUSD (cable) Forex pair but I looked at the EURUSD (Euro) Forex pair and I think this would also be a good pair to trade on using the DDFX system.

Ok, so to look at the charts so far:

You can see that both the EURUSD and GBPUSD charts signalled a short entry, the Euro entry was more clear with 3 arrows whereas the GBPUSD had 2 with the 3rd one appearing where the price action is now. However, as I mentioned, there is a level of subjectivity and if I were to trade it, I would have entered at the level where there are two arrows as the trend indicators mostly matched up also.

The Euro trade is already 140 pips in profit and the Cable (GBPUSD) trade is 40 pips up.

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