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Profit All Day System

  • Post #1
  • Quote
  • First Post: Edited Feb 5, 2011 10:23am Jan 24, 2011 2:50pm | Edited Feb 5, 2011 10:23am
PLEASE READ ALL OF THIS POST BEFORE TRADING!!!!!!

The only system one could ever want or truly need is right here.
I was taught this system from a friend of mine with a lot of forex knowledge.

I have a few threads on FF sharing with you a couple of my custom systems but this one here is the real deal. There's no custom or tricky indicators that repaint. Everything is already included in your platform. This is the system I use for my live trading and believe I always will. My custom systems are good but just don't fallow price like this one does.


My story in a nutshell,
I am a trader of 4 years with 3 of them being a bad experience till I was taught this system by a good friend. Now a year later I consistently make 20-50 pips a day only trading a couple hours.

Why I like this system,
-It's solid and works on the 5, 15, 1H, 4h, and daily time frames.
-I use it on the 5 nd 15 min.
-consistent Gains of 20-50 pips a day using it on the 5 and 15 min time frame per pair although I only trade the EU and GU.

System,
EMA's, 3,5 and 13
cci, 24 period fixed minimum of -350 and a maximum of 350
cci levels -90, 90

Sell:
Check 5m chart for latest swing low.

Check EMAs all heading down and spacing apart on 15m chart.

Enter trade on next break point on 5m chart when CCI is below 90 CCI
(not important in 15m chart)


EMAs must be heading down and spacing apart on 15m chart for entry.
(not important in 5m)

Stop loss 3 points above last swing high.

70% of Take profit at ½ Stop loss value 30% at 3 EMA crossing up through
13 EMA (on 5m chart).

What is the lowest low?
It's when the current candle has at least 2 candles before and after that are higher then it itself. (Example is in pic.)


Buy:
Check 5m chart for latest swing high.

Check EMAs all heading up and spacing apart on 15m chart.

Enter trade on next break point on 5m chart when CCI is above +90 CCI.
(not important in 15m chart)


EMAs must be heading up and spacing apart on 15m chart for entry.
(not important in 5m)

Stop loss 3 points below last swing low.

70% of Take profit at ½ Stop loss value 30% at 3 EMA crossing down through 13 EMA (on 5m chart).


What is the highest high?
It's when the current candle has at least 2 candles before and after that are lower then it itself. (Example is in pic.)
　
Risk?
Max, Only 5% per trade.

While trading, make sure when your TP is hit to only take out 70% of the initial trade. Leave the other 30% in till 3 and 5 ema cross the 13. This will allow you to let your profits run, which is a must in forex trading!



Please do not change this method to your liking, keep it as it is. I've don't very well with this system over a long period of time. I've tried using it with many different indicators to try to make it better. Doing so just didn't make sense to the system. I even tried fib pivots. Also didn't make sense.

This system was meant to be traded as is. I've traded it for a year now and it's treated me very well so I hope you like it. Please give it a good shot with your trading. I've had a lot of people come to me asking how to trade profitably and this is the system that has helped me.

I will post my live trading pics here every day till thread is no more...
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have you really been trading for the last 4 years?

you risk 2 and reward is 1 which is bad. so if you have 4 winners and 2 losers that will break even. if you have 1 winner and 1 loser you will end up in loss. That is not good.

Also you are recommending risking 5% of account which is not good either

Also you copied and pasted the sell signal for buy signal and you got it wrong.

What's this all about?
Quoting vijidas
have you really been trading for the last 4 years?

you risk 2 and reward is 1 which is bad. so if you have 4 winners and 2 losers that will break even. if you have 1 winner and 1 loser you will end up in loss. That is not good.

Also you are recommending risking 5% of account which is not good either

Also you copied and pasted the sell signal for buy signal and you got it wrong.

What's this all about?

Your W/L ratio does not always have to be higher then 1:1 to profit long term if you have a high win rate on your trades.

my TP is hit about 79% of the time causing me to come out wtih profit almost every day.

I dont understand why 5% is bad? That may be a little high but because of my win rate this is what I use.

Not sure what you are talking about with the trade example. my example is a buy position....
Quoting Cubbybgood
Your W/L ratio does not always have to be higher then 1:1 to profit long term if you have a high win rate on your trades.

my TP is hit about 79% of the time causing me to come out wtih profit almost every day.

I dont understand why 5% is bad? That may be a little high but because of my win rate this is what I use.

Not sure what you are talking about with the trade example. my example is a buy position....
dude, if you risk (SL) is 30 pips and reward (TP) 15 pips how can that be 1:1 Risk Reward ratio?

5% is bad because in forex losses are unavoidable. If One hits a choppy day or two then your account will be easily dented. Lets say one has 5 losses in a row due to volatile, choppy market condition (this can definitely happen) then 25% of your account size is wiped out and with a poor 2(risk):1(reward) risk reward ratio...you need to make 10 straight winners to just break even. How can that be good dude?

Quoting Cubbybgood
Buy entry on 15 minute.
break of the last lowest low. check next highest time frame which is 1 hour to see if there is good spacing between the EMA's heading downward. I do not confirm trades on the 30 minute time frame. If there is good spacing and EMA's are heading down then you have a great entry.
Don't you mean break of last highest high for buy entry?

When one is trading 1 or more standard lots...and if Risk Reward is not even 1:1 then how can one trade with confidence?
thanks buddy

I might be using this system for my everyday 20pip (2 trades each). i will have to look into this some more .does it trade news? is there a particular time that is best for the trades?
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  • Post #6
  • Quote
  • Edited 4:07pm Jan 24, 2011 3:55pm | Edited 4:07pm
Quoting webglobe
thanks buddy

I might be using this system for my everyday 20pip (2 trades each). i will have to look into this some more .does it trade news? is there a particular time that is best for the trades?

be careful, You have to make sure the trend on the 15 min time fram is going up. Look at this....

3 and 5 ema's have not crossed fully going up as you can see from the pic.

Yes, it does trade well during most news.
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This was one of my trades this morning....

25 pip SL
12 pip TP
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Quoting vijidas
dude, if you risk (SL) is 30 pips and reward (TP) 15 pips how can that be 1:1 Risk Reward ratio?

5% is bad because in forex losses are unavoidable. If One hits a choppy day or two then your account will be easily dented. Lets say one has 5 losses in a row due to volatile, choppy market condition (this can definitely happen) then 25% of your account size is wiped out and with a poor 2(risk):1(reward) risk reward ratio...you need to make 10 straight winners to just break even. How can that be good dude?



Don't you mean break of last highest...
I'm just going to ignore these comments.
The person that writes something like this is not open to new ideas and shuns them before they even try it.

I've had more then 20 trades in a row hit my TP.
How's that for 2:1.

Also I say max 5%. What you should be using is 2% in all forex trading.
Thanks for sharing, does the cci 24, have to be above 90 on the 15 min chart as well as the 5 min chart for a long entry.

Rebel
Quote
Buy entry on 15 minute.
break of the last lowest low

shouldnt this be break of the highest high

Quote
Buy entry on 15 minute.
break of the last lowest low. check next highest time frame which is 1 hour to see if there is good spacing between the EMA's heading downward. I do not confirm trades on the 30 minute time frame. If there is good spacing and EMA's are heading down then you have a great entry

shoudnt this be heading up
.
i think vijidas was trying to point this out.

i want to have a go at this system. l like simple
thanks
  • Post #11
  • Quote
  • Edited 4:32pm Jan 24, 2011 4:21pm | Edited 4:32pm
Same trade I took this morning on the 5 min was almost a valid entry on the 15 min time frame but you see here there wasn't to candles before and after the swing high for it to be a valid entry.
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Quoting indranghimir
shouldnt this be break of the highest high



shoudnt this be heading up
.
i think vijidas was trying to point this out.

i want to have a go at this system. l like simple
thanks

Yes, sorry, this was a copy and past issue. Thanks for pointing out where it was.
Quoting rebelheart
Thanks for sharing, does the cci 24, have to be above 90 on the 15 min chart as well as the 5 min chart for a long entry.

Rebel

cci only has to be above on the entry time frame not the one that you are confirming the trend on.
You should add the fractal indicator to your charts so you can easily spot the last high or low as you call them. That way you can watch more pairs since you can spot the high/lows quicker, just a thought.

trublu
well.... I had a few more ideas, but looks like your well on your way.

Good trading.
Quoting trublu
You should add the fractal indicator to your charts so you can easily spot the last high or low as you call them. That way you can watch more pairs since you can spot the high/lows quicker, just a thought.

trublu

Yes, this is a great idea. takes some time out of looking for the highs and lows. Like it.

Only prob is that I like to keep the line graphs on chart as none so they dont show. I do not cound line graphs as highes or lows.
Quoting Cubbybgood
Yes, this is a great idea. takes some time out of looking for the highs and lows. Like it.

Only prob is that I like to keep the line graphs on chart as none so they dont show. I do not cound line graphs as highes or lows.
I don't think I understand what you're trying to say. If you are talking about under properties and selecting the line graph to none you will still see the fractals show up on your chart. I've attached a chart where I put the line graph to none and you can see the fractals on the chart. Let me know if this is not what you're talking about and feel free to delete my post if you're taking about something else.

I couldn't take a picture with the properties menu up but I selected the line graph to none.

trublu
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Looking at the post above, fractals is not spotting the highest high/lowest low as per Cubby's definitions

Hey Cubby, please correct your first post as it still says heading down instead of heading up for the Buy entry.

Also why is the sell entry on 5 min and buy entry on 15 min? Just curious.
Quoting trublu
I don't think I understand what you're trying to say. If you are talking about under properties and selecting the line graph to none you will still see the fractals show up on your chart. I've attached a chart where I put the line graph to none and you can see the fractals on the chart. Let me know if this is not what you're talking about and feel free to delete my post if you're taking about something else.

I couldn't take a picture with the properties menu up but I selected the line graph to none.

trublu
Sorry this is what I ment. sorry about the confusion...

Line graphs to match the backround color. See in pic.
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Quoting the-game
Looking at the post above, fractals is not spotting the highest high/lowest low as per Cubby's definitions

Hey Cubby, please correct your first post as it still says heading down instead of heading up for the Buy entry.

Also why is the sell entry on 5 min and buy entry on 15 min? Just curious.
I believe I fixed first post....


These are just examples. I did and entry on both so you would get the idea. you can do selles or buys on any time frame mentioned
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