UPDATE 2: FX Trend Snagger Model: 2012-11-21

John J HardyJohn J Hardy , Head of FX Strategy, Saxo Bank
Filed in FX Trend Snagger Model
United Kingdom, 21 November 2012 at 11:56 GMT+0
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Apologies for any confusion, but we thought we would do a full update due to the new JPY positions and because it was discovered that we failed to indicate that the stop on the short GBPUSD position needs to be moved a bit lower due to the previous run-up in the position's profit - counter to what we indicated previously.

Latest news - see attached PDF for full details:

-> Model goes long 1 unit each of EURJPY and GBPJPY
-> AUDUSD short will trigger on close below 1.0320 today - long needs higher close above range
-> EURUSD short position on the ropes again
-> Stop on short GBPUSD position adjusted lower…

 And latest snapshot of the account's actual open positions and stops:

tsnagger_PO

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This post appears under the following topics...

  1. GBPUSD
  2. EURJPY
  3. Forex
  4. GBPJPY
  5. Trading Models
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TrendSnagger_2012_11_21_Late.pdf

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About the Saxo Bank TrendSnagger Model

The TrendSnagger trading model is designed to capture FX trends. Unlike one-dimensional trend-following models that attempt only to maximize exposure during well-defined trends, this model applies a set of pattern recognition and other rules that are overlaid on the trend following rules to take partial profits at pro-trend extremes and to limit draw-downs, depending on the context. The model is rules based. The basic entries are strictly defined and the stop levels are absolute, although there is some room for discretion on the profit-taking side.



The FX Trend Snagger Model is one of 4 trading models on TradingFloor.com which are tried and tested with an actual funded trading account from Saxo Bank. Also see Turtle Model, Momentum Allocation Model and BottomFisher Model

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Disclaimer

Saxo Bank provides an execution-only service. The material on this website does not contain (and should not be construed as containing) investment advice or an investment recommendation, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Saxo Bank accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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