Confessions of a Pip Loser
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Thread: Confessions of a Pip Loser

  1. #1
    I've been fumbling around now with FX to get a month or two and I have not been doing too well at it. However, I have recently found nigeriaforextrading and I must say that I feel much more confident about applying a constant system for my own trading. Whether this system yields any positive pips, well, that is another story...

    Being as I am, I will refer to my current trading system as the Bodger. The Bodger was motivated by the Fozzy method, which now has a large following. However, I've made a couple tweaks.

    My attached chart indies the transaction that I just took - short on AUDNZD. I have employed a 61-pip trailing stop (70% of the ATR) and I am trading it due to the negative cross on the CCI.

    If you've read up about the Fozzy, you know that it applies an 8-period EMA on the RSI. I put the 8-period EMA about the CCI and that I only trade crosses that take place over 70 or below -70. I will shut the position as soon as the management of the CCI turns against me.

  2. #2
    Thus far this system has yielded one finished transaction.

    Buy AUDNZD on 2007-04-22 @ 1.1190
    Stopped out on 2007-04-23 @ 1.1238
    Result: -48

    Total Winners: 0
    Complete Losers: 1
    Complete Pips: -48

    Based on last night's crosses, I am also riding the following transactions:

    Buy CADJPY on 2007-04-23 @ 105.80
    Sell USDCHF on 2007-04-23 @ 1.2073
    Sell USDCAD on 2007-04-23 @ 1.1220

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