FX TrendSnagger

FX Trend Snagger Model goes short AUDUSD

John J HardyJohn J Hardy , Head of FX Strategy, Saxo Bank
Filed in FX Trend Snagger Model
Slovenia, 02 October 2012 at 07:16 GMT+0
Recommended Recommend Unrecommend Recommend

Note: The FX Trend Snagger model is a "trend capture" system aimed at detecting and capturing trending movements rather than geared toward all or nothing trend following. Positions are established as'"two units" because profit is taken in two phases of one unit each on Trend Snagger trades that eventually prove profitable. The initial stop is for the full amount of the trade and a maintenance stop once the trade hopefully begins progressing in the right direction. 

We got a signal to go short AUDUSD on our Trend Snagger model. We sold two units (106k AUDUSD) this morning at 1.03086 and placed a stop at 1.0407 bid. There is no set target as we wait for the trend to hopefully progress in our favour and profit-taking occurs based on price patterns. Minimum profit taking ambition comes in around the 1.0075 area for half of the position.

ts_AUDUSD_0001

 

audusd

Comments

Related articles

Topics

This post appears under the following topics...

  1. Forex
  2. AUDUSD
  3. Reserve Bank of Australia
  4. US dollar
  5. Australian Dollar
  6. Trading Models


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

Trending articles

Trending Topics

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.

Please read our full disclaimers:
Sponsored by Saxo BankCookiesPrivacyRSSContact us

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.

Please read our full disclaimers:
Sponsored by Saxo BankCookiesPrivacyRSSContact us
Feedback
Dismiss

Oops! There was a problem communicating with the TradingFloor.com servers Connection Error! {time} {code} {type} {message} .

Oops! There was a problem communicating with the OpenAPI servers.
Oops! There was a problem communicating with the Financial Calender servers.