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The7 Trading System

Hi The7 and all together!

Thanks for sharing the system and ideas.

I start a trade like system which posted in first posting (daily) in EURGBP last night. I feel fine with this trade. I think, after correction it can be go in my direction. If not, next signal ;-) See Signal before. The same thing.

My timezone is Germany, Berlin (GMT +1). If you post charts too, we can check out by the other, which is best time. So we can adjust.

My chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp_day_01.gif Size: 32 KB


Good Luck!
pti nat r
While the method CAN catch a trend in the early stages, it's weakness is that it can also get into many consecutive losing trades by going against a strong trend and in very choppy conditions.

Not to rain on anyone's parade, but the attached chart validates what I am saying. It shows a period of time from July - November of 2010 where there were 17 trades and 16 of them were losers. Plus 11 of them were consecutive losing trades.

Very few traders that I know of have the intestinal fortitude to trade a method like that.

And yes, I understand that there is no one concrete set of rules to this method, BUT it shows that just arbitrarily buying or selling when the market moves from outside to inside the channel may not be such a good idea.'

* I just realized that my screen capture didn't capture all 17 trades, but if you check your charts for the time period I mentioned you will see them
Attached Image
Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
While the method CAN catch a trend in the early stages, it's weakness is that it can also get into many consecutive losing trades by going against a strong trend and in very choppy conditions.

Not to rain on anyone's parade, but the attached chart validates what I am saying. It shows a period of time from July - November of 2010 where there were 17 trades and 16 of them were losers. Plus 11 of them were consecutive losing trades.

Very few traders that I know of have the intestinal fortitude to trade a method like that.

And yes, I understand...
Please go to page 1 and read the rules again. We are using Candlesticks, not HA candles. I looked into the same time period you mentioned (July-Nov,2010) with the chart I used, yes there were few losing trades but overall it turned out to be a profitable period...
I'm as cynical as the next man Robin but even from the trades that you did highlight I think from a cursory glance only 6 would have been valid trades. The previous days candle has to close outside the channel and the signal candle inside.
Correct me if I am wrong please?
Quoting shaikjun
here are list of pair forming ,but have to check again tomorrow morning.

GBPUSD BUY
EURCAD BUY
EURJPY BUY
EURUSD BUY
CADCHF SELL
CHFJPY SELL
USDCHF SELL
GBPCAD BUY
GBPJPY BUY,
pls reconfirm before opening,pls share your comments if any of the pair is not suitable for an entry.
thanks
Shouldn't chfjpy be a potential long?
I didn't pick the trades, nor does it matter what type of candles they are....BECAUSE the trades were chosen AND the arrows posted by the smThe7Signals_v1 indicator.

However, IF the indicator is just flat out wrong that many times, then that changes things. But visually they all look correct to me.

I have attached a chart without the HA candles.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Daily 2.jpg Size: 324 KB
Always a Student, Never a Master - Emulate What Works
Quoting The7
Please go to page 1 and read the rules again. We are using Candlesticks, not HA candles. I looked into the same time period you mentioned (July-Nov,2010) with the chart I used, yes there were few losing trades but overall it turned out to be a profitable period...
A few losing trades? There are 19 trades during those 5 months according to the indicator and it appears to me that there are 15 losers and 4 winners IF YOU LOOK CLOSELY at each trade.

I would love for you to show me how the period I mentioned (AUDUSD - July-Nov,2010) was profitable just by buying/selling when the market moves from outside the channel to the inside.
Always a Student, Never a Master - Emulate What Works
Thanks Robin,
From that chart it looks like arrows 3 and 6 are winners and 14 is unknown. Leaving 11 losers. Not a good sample that's for sure.

The7 recommends using this over numerous currency pairs though and letting the winners run to offset the smaller losses so I suppose we'll just have to test and see.

What do others think??
Quoting RobinHood
I didn't pick the trades, nor does it matter what type of candles they are....BECAUSE the trades were chosen AND the arrows posted by the smThe7Signals_v1 indicator.

However, IF the indicator is just flat out wrong that many times, then that changes things. But visually they all look correct to me.

I have attached a chart without the HA candles.
Doesn't look like a daily chart !!!
Here's the chart with all 19 trades:
Attached Image (click to enlarge)
Click to Enlarge Name: 20 AUDUSD Trades.jpg Size: 303 KB
Always a Student, Never a Master - Emulate What Works
Quoting Bergit
Doesn't look like a daily chart !!!
I can assure you that it's a daily chart...
Attached Image (click to enlarge)
Click to Enlarge Name: Daily AUDUSD Chart.jpg Size: 346 KB
Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
I can assure you that it's a daily chart...
Long AU & UCAD from yesterday. In the money a little on both...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.gif Size: 34 KB
Click to Enlarge Name: ucad.gif Size: 28 KB
Quoting prosper1
Long AU & UCAD from yesterday. In the money a little on both...
My CAD looks little different (TimeZone). To compare here is the chart:
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_day_01.gif Size: 23 KB


EGBP moved SL:
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp_day_02.gif Size: 34 KB
@Ariadne Thanks for the clear explaination,now i got it
Quoting Ariadne
@shaikjun



in the place of the Daily chart,
24hr = 1440 minutes

i find it to be sharper more reliable info then the Daily, also 1440min chart compiles the information exactly to the specs of your time zone.
meaning the next day starts at the beginning of the new trading session!

144min chart is just the downsize scale of the 1440min, 10 bars per day!
On intraday it is quite solid momentum reader.


If you are unable to be specific then i'd suggest
the Daily -120min


hope this will help clarify ? :-)

P.S.
....... as the price becomes...
NEVER go against the Daily trend
Quoting RobinHood
I can assure you that it's a daily chart...
Between June1st, 2010 and Jan 2011 the Aud/Usd produced 1583 pips. The chart below is from Ibfx. It is not fair, to show a time period with failed trades and saying this system is a bad idea. You have to look at the whole picture. I didnt even check what this system did during this time with other pairs...
Attached Image (click to enlarge)
Click to Enlarge Name: asa.jpg Size: 80 KB
Quoting The7
Between June1st, 2010 and Jan 2011 the Aud/Usd produced 1583 pips. The chart below is from Ibfx. It is not fair, to show a time period with failed trades and saying this system is a bad idea. You have to look at the whole picture. I didnt even check what this system did during this time with other pairs...

dont worry. criticism is good. it identifies any problems and way to resolve things. better way of doing things. so let robin identify flaws.

only time will tell the viability of the method.
Quoting whatfx
dont worry. criticism is good. it identifies any problems and way to resolve things. better way of doing things. so let robin identify flaws.

only time will tell the viability of the method.
dont worry The7. your system is excellent. i am agree with whatfx , time will tell you everything.
Quoting shaikjun
here are list of pair forming ,but have to check again tomorrow morning.

GBPUSD BUY
EURCAD BUY
EURJPY BUY
EURUSD BUY
CADCHF SELL
CHFJPY SELL
USDCHF SELL
GBPCAD BUY
GBPJPY BUY,
pls reconfirm before opening,pls share your comments if any of the pair is not suitable for an entry.
thanks

most of these trades did not materialise. the only iable one i see at present is the sell on usd chf. so i have taken a sell on uc. see how this one pans out.
usdchf did not close below the EMA
Quoting whatfx
most of these trades did not materialise. the only iable one i see at present is the sell on usd chf. so i have taken a sell on uc. see how this one pans out.
NEVER go against the Daily trend
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