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Lazy Boy both sucks and blows at the same time!

Phil Newton's picture
Posted October 22nd, 2008 by Phil Newton

Hi Folks,

In this current market enviroment with many Asian session moves that are often going without me from an intraday trade point of view it seem that the best way to get involved in any moves is from a swing trade view point.  Certainly we can see many of the cross rates rally or dip several hundred pips in a short space of time for what seems like no apparent reason at all.

Also a lot of the patterns are developing very early UK morning between 2-4am or very later evening and then this game becomes a very mentally challenging 24hr job!!

So one way as we have discussed is the Lazy Boy entry method, which now has its own slot on the site.  This is an old strategy that Ive revived.

Please keep in mind that this is a whippy strategy and you will see what I mean in a moment below and from reading the article.

Ask always I like to test things and I'm in no rush to do anything at all by making a rash decision. So what does it look like on the chart.

Currently I'm trading this on GBPUSD and EURJPY with compounding and EURUSD with a single entry only. What ive noticed is that GBPUSD is a lot whippier compared from when I last traded this strategy to now. I was looking for another pair to trade a single entry with as it is a pretty intensive strategy with compounding to use manually although a code for your software can be made to auto trade it.

Anyway, I started looking at GBPJPY live trading before rolling it out to everyone and what a good day to start, but looking at price this morning should have carried on with it as price produced another 700 pip drop.. ah well.

GBPJPY

Lazyboy GJ

GBPUSD

Lazyboy gbp

EURJPY

Lazyboy EJ

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GBPJPY nice one

caprica1's picture
On October 22nd, 2008 caprica1 says:

Hi Phil, just a quick one while I´m checking my email from sunny Gran Canaria. Not rubbing it in I promise! lol

I´m still finding myself thinking about the dam bias change pattern, while I´m diving. Sad I know.

I´m looking forward to trying out the Lazy Boy on GBPJPY though when I get back. Unfortunately I do need to come back at some point. :( 

lazy boy text alerts Morning

ijcrump's picture
On November 4th, 2008 ijcrump says:

lazy boy text alerts

Morning gang. I have been using the Lazy boy entry for a few trades now with good results so far. I`m on the GBPUSD at the moment. but I am back to work this week so I am trying to find a way of receiving text or email alerts to let me know when my trades have triggered or my stops have been hit, If anyone can help with this that would be great. I am using MT4 Alpari for my charts and Oanda for my broker.. 

 Cheers gang. any help would be great.

Ian..

email alerts

Pillinger's picture
On November 4th, 2008 Pillinger says:

Never used it, but I there are full instructions for the MT4 here.

http://articles.mql4.com/190

 

 

chears..

ijcrump's picture
On November 9th, 2008 ijcrump says:

thanks for the link Will. very helpful as usual keep up the good work and I hope that trading is going well for you..

thanks again..

Ian

Hi ian,

steviedarian's picture
On November 13th, 2008 steviedarian says:

not sure about mt4 but i use IG for Lazy boy. U can set email and text alerts when certain prices are reached, when your trades trigger, when u reach your stop limit or when u get stopped out. hope this was helpful just in case u decided to change your broker for this purpose.

My Own experiences with trading away from the desk...

Phil Newton's picture
On November 15th, 2008 Phil Newton says:

Hi Folks,

Firstly thank you all for your replies to Ian's question it really is nice to see people share their own experiences.

For myself this entry method was one which I could use while not being at the trading desk or has been something which has ran in the back ground of my regular trading.

In the past I have typically attached email or SMS alerts to orders so that I know that my order has been triggered.

Most brokers and spread betting companies offer mobile phone trading facilitating this trading away from the regular trading desk.

If you set up a dedicated email only for your trade orders and link that to your mobile phone so that when and order is triggered you know you are either in a trade or have been stopped out and will need to take some quick action.

Some brokers are also offering SMS alerts as well now at no extra costs.

Hope this helps

Phil