The7 Trading System

Hey Silat,
Lol I know but you can't get everyone. Unfortunately I did have it long on paper. Been busy so haven't been around. And they only reason I didn't take it had two others that were better. And closed in profit. It's about time felt like a hitter in a slump lol. Gbpusd panned out but the gbpaud didn't glad I didn't get in. This is why you need other indies to help with decision making stocholastic making a W around the oversold area. But hey whatever if we were never wrong we would never got married, lmao. Ok got to get ready for the blizzard. To to you soon.
Paul

In flat there is a lot of false signals. As I understand the system is designed to catch the beginning of a trend and counter trend passes.

There will always be a lot of false signals. The key is to find a system where it doesnt matter. As for me, I found this system where almost every single pair was giving off huge winning signals tallying up 3,4,500 pip gains before getting stopped. How many systems can ever do that ,that you will find for free on an open board like this? This system is not for everyone. Most of the people here use it with their own indicators. I use it with my "eyes" for indicators. The one thing about this system that works for everyone(or you arent playing this system!) is that it always limits your losses to one bar. Lose a little, make a lot.

I dont know what this has to do with the price of eggs,as the saying goes, but I have also been using a 60 min bar system aside from this ,lately. And it is amazing how I can spot tops and bottoms, exhaustion bars, you name it, all kinds of patterns........AND ON THE DAILY BAR(S) THEY DONT EXIST!

It is so interesting. I will see a pattern on say the 60m usd/jpy and I am positive it has topped out. A solid green bar shows up, then gets taken out by an equal size red bar, and then a second red bar forms. And this is after an 8-10 bar long run. I then look at the daily bar and all I see is a solid green bar. The wick is so small I have to zoom in to see it. What does that tell us?

As an aside, if you get addicted to watching 60 min bars on the london, trade like I do, and you dont have a job, you may never be able to work a regular job again. It is soooooo ADDICTING. -)

[quote=Silat50;6436807]I dont know what this has to do with the price of eggs,as the saying goes, but I have also been using a 60 min bar system aside from this ,lately. And it is amazing how I can spot tops and bottoms, exhaustion bars, you name it, all kinds of patterns........AND ON THE DAILY BAR(S) THEY DONT EXIST!

To quote my own post....I remember sitting in a trading room with a professional trader who was sort of my mentor, he made a comment I should never forget, but too often do:

"If you want to go short something on a 60 min time frame or less, you better see at least 1/2 the daily bar disappear into a wick or you are going against the daily trend and you will NOT be a winner at the end of the year,no matter what you do."

I guess,because my one "tendency" that has cost me the most money, is seeing tops that arent really tops on smaller time frames, I am really glad to be trading THE SEVEN SYSTEM.

If all of you asked yourself, what is the one thing I keep doing over and over that costs me money, if you cant answer it....Its costing you a LOT of money. I believe even the best traders in the world have at least one bad habit or trading rule that eats away a lot of their profit,they just dont see it.

Question of the day: If the system Im using works, why am I still working?

"If you want to go short something on a 60 min time frame or less, you better see at least 1/2 the daily bar disappear into a wick or you are going against the daily trend and you will NOT be a winner at the end of the year,no matter what you do."

Hi Silat
Do you mind posting a screen shot relating to the top comment.

Regards

Hi traders,

According to the strategy the EURUSD Daily should be a nice buy signal with SL at the bottom of last candle that will close in 3h right?

Thanks for your help.

Mfinab,

No. It was a nice buy 3 candles ago when the 1st small green candle on your chart closed in the middle of the band. This should be your 3rd day in the trade. I suggest you check your band settings for 5-high, 5 low ema. Or go find the instructions that are pasted at the beginning of this thread. It might be clearer for you,

BACK IN THE GPY/AUD SHORT-Those of you who remember several days ago I just about wrote a book on why I loved that gbp-aud short. So look what it did. It stopped us out, then 3 days later here comes the short signal again and iM ALL OVER IT. This time, I put one lot on right away and then added another beginning of today. I think one of you should volunteer to keep the statistics of what happens if we lose one trade, what is the result on the second trade going the same direction when it re-triggers? Im almost thinking if the weekly is with you all the way, you may want to figure out how to money manage it, so you put more or less into the 2nd trade depending what the stats show. Its just one of 10 ideas I get every day. No biggie.

Hi The7! How do I know that the signal fulfills?

TAKING A BREAK:

Guys, I need a break from the thread. I cannot make trading my whole life and I'm stepping back a bit from it. I encourage all of you new people to not ask questions every single day as it distracts the older guys who if you just sit back and listen to, you'll get this. If you have any confusion on the rules of this system ,just go back to the beginning of this thread. I will be spending some time re-reading my own posts as well as the others here. Its amazing how we can hear something(or read) 7 times and on the 8th time we "get it." This is a GREAT SYSTEM. iF YOU USE IT ALONE, FINE. If YOU NEED TO PUT OTHER THINGS INTO IT, PAPER TRADE IT ON YOUR MT4 PLATFORM BEFORE RISKING REAL MONEY.

To repeat again: The beauty of this system is not any magic bands. It is the fact that when you come down to the bottom line, this system is based on 2 things:

1-having a one bar stop loss.
2-Trying to spot sharp reversals or pull-backs with low risk in most cases.

IF ANY OF YOU CAN FIND A BETTER MONEY MGMT SYSTEM THAN THIS, Please, post it here and let us know!!! We are all here to learn. We are not married to this or any other system. But this is about the best Ive found on FF in years. What more can you ask for than a system that has a one bar stop loss? I applaud the guy that invented it.

Caution: So far, no one has proven this system to work profitably except on daily bars. And why give more spread to the market makers anyway. Stick to daily bars and only daily bars. But use your brain to decide WHICH pairs you play when they give a signal.

The sore spot of the system: So far, we have not come up with an exact strategy as to when to re-enter the trade when you get knocked out on a multi bar win. We also havent decided if adding to the trade is more profitable than not. These are critical components in my opinion that we all need to work on together. As Ive proven to you guys with just my last trade I posted in GBP/AUD, and others I have posted here or PM'ED OTHERS ABOUT, i HAVE HAD GREAT SUCCESS,ADDING ONTO THE TRADE....But I am the last one top say I am sure this will continue. Lets keep up the research,boys. And thank God we discovered this system because even if we find something better, I bet money what we have learned from using this will stay with us for life. I hope I am always returning here again and again, for all my life.


Be back soon.

ONE MORE THING:

All of us should be keeping records of when we lose a trade...what could we have done to make it into a winner, even if the rules are outside the 7 system. Lets share this info! nAnyone can talk about a winner. But you LEARN.....from your losers!

Later.

OK Silat go enjoy your sabatical talk to you soon.
Paul

Hello folks. Big apologizes to every one of you for not being active for a very long time. I was and am very occupied with my personal, specially professional life. The Real Estate Market here in beautiful Vancouver, BC is about to collapse and I am trying to be prepared for the future.

It's awesome to see that some of you made a use of this system. I did not have any chance to read most posts yet but there is something I like to outline: No system is perfect. Sometimes everything, every system works, until it, well, doesn't anymore.

The 5EMA channel is a very good indicator to hold a pulse of the market. Watch it carefully. Watch for wicks, retraces and follow the channel. Round numbers, S/P levels are crucial. Duringtimes when this system will fail, all others will do the same.

Good to see you after a while "The7".

Thanks for the strategy .

True it is , the stability of any system/startegy and the market condition.

mixter

Welcome back The7,

Question: what is your opinion of running this system on 4hour charts... or even one hour charts for that matter?

Many thanks,


Tim.

Нi all. At lower TF lot of false signals.

Thanks for checking it out. Better to stay with the daily less checking the charts so not to be tied to your computer. Less whipshaw. Easier to cherry pick trades. Dont get me wrong you will get false signals in daily but using other indicators to help weed it out helps. No system is perfect thats why I believe you need other indicators to help with decision process. How i look at it if the first criteria is not met I move on to the next chart til i find it. Then use other indicators to see which has the best potential. And take it from there.
Paul

Hello Paul! Tell me what indicators to use filtering? I'm bad understand English but I'll cope.