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Trend Finder Daily

  • #101
  • Jun 16, 2008 8:55pm Jun 16, 2008 8:55pm
Quoting BBPI_fxtrader
what do you understand by complete reversal signal ?
A complete reversal signal (as in this case, USDCAD) would have been a short signal completed (not only a red bar on the AO yesterday) with due follow-up. Yesterday's red bar is like a "bump" in the uptrend continuation but the long entry signal was (on my chart) on may 26 so that would be a very very late entry, as per the system rules.

P.S. In fact: besides being a "no-trade" condition, the fact that yesterday's bar is a red one and that today's stoch histogram is much LOWER, could give a hint of a possible short reversal so would be quite risky to just assume that if the day began with a green bar it's long again...
  • #102
  • Jun 16, 2008 9:38pm Jun 16, 2008 9:38pm
Quoting doblece
A complete reversal signal (as in this case, USDCAD) would have been a short signal completed (not only a red bar on the AO yesterday) with due follow-up. Yesterday's red bar is like a "bump" in the uptrend continuation but the long entry signal was (on my chart) on may 26 so that would be a very very late entry, as per the system rules.

P.S. In fact: besides being a "no-trade" condition, the fact that yesterday's bar is a red one and that today's stoch histogram is much LOWER, could give a hint of a possible short reversal so would be quite risky to just assume that if the day began with a green bar it's long again...
This is 100% correct. Thanks for explaining that for everyone.
  • #103
  • Jun 17, 2008 9:38am Jun 17, 2008 9:38am
http://i236.photobucket.com/albums/f...ihan/nzdss.gif
Quoting Bull101
Hello,

The indicators do not need to change at the same time to be a valid entry.

Bull101
Ok i am confused here.When you say" Ac or St.H." has changed to green" means their previous bars was red right? But when you say they dont have to change at the same time makes it hard to understand...Can you clarify please?
  • #104
  • Jun 17, 2008 11:18am Jun 17, 2008 11:18am
What I believe he means is they don't have to change and match on the same day. For instance, let's say on Monday EUR/USD creates a red AC candle at the open of the daily candle but Stochs creates a green candle, that is not a valid trade. Once stochs turns red, as long as AC is still red, that's a valid entry short. Keep in mind though, in order to have a valid entry short, the last valid signal for that pair must have been a long entry. So if the last valid signal on EUR/USD was a short trade, and you missed it, you would not want to take another short trade on EUR/USD until there has been a valid long entry first.

So for example:

Monday: EUR/USD valid short entry (AC=Red & Stochs=Red) (You missed this trade because you were out shopping or something)

Tuesday: EUR/USD another valid short entry (AC=Red & Stochs=Red) You would not take this trade because that is a late entry because the last valid entry on EUR/USD was short, which generated the previous day.

To sum it up, if I'm understanding the rules correctly, you will never have two short trades in a row on the same pair and you will never have two long trades in a row on the same pair. In order for your signals to be valid, if I'm understanding the rules correctly, after a valid short trade, they must be a valid long trade before you can go short in that currency pair again.

After a valid long trade, there must be a valid short trade before you can go long again in that currency pair.

Hopefully this clears things up for you. Hopefully Bull101 will read my response and clear anything up if need be. Also, Bull101, if I offended you by answering a question that has to do with your system, I'm sorry and mean no disrespect. I figured I would try and answer the question to help others as I have been helped in the past. If my answer to the question was incorrect, I'm truly sorry for that. I believe I have a pretty solid understanding of the system as the rules have been stated thus far, so I wanted to try and help a fellow trader.
  • #105
  • Jun 17, 2008 1:31pm Jun 17, 2008 1:31pm
Quoting The7
http://i236.photobucket.com/albums/f...ihan/nzdss.gif

Ok i am confused here.When you say" Ac or St.H." has changed to green" means their previous bars was red right? But when you say they dont have to change at the same time makes it hard to understand...Can you clarify please?
Dl's response answers your question perfectly.

If you need more clarification, please don't hesitate to ask.
Bull101
  • #106
  • Jun 17, 2008 1:32pm Jun 17, 2008 1:32pm
Quoting Dl1982
What I believe he means is they don't have to change and match on the same day. For instance, let's say on Monday EUR/USD creates a red AC candle at the open of the daily candle but Stochs creates a green candle, that is not a valid trade. Once stochs turns red, as long as AC is still red, that's a valid entry short. Keep in mind though, in order to have a valid entry short, the last valid signal for that pair must have been a long entry. So if the last valid signal on EUR/USD was a short trade, and you missed it, you would not want to take another short trade on EUR/USD until there has been a valid long entry first.

So for example:

Monday: EUR/USD valid short entry (AC=Red & Stochs=Red) (You missed this trade because you were out shopping or something)

Tuesday: EUR/USD another valid short entry (AC=Red & Stochs=Red) You would not take this trade because that is a late entry because the last valid entry on EUR/USD was short, which generated the previous day.

To sum it up, if I'm understanding the rules correctly, you will never have two short trades in a row on the same pair and you will never have two long trades in a row on the same pair. In order for your signals to be valid, if I'm understanding the rules correctly, after a valid short trade, they must be a valid long trade before you can go short in that currency pair again.

After a valid long trade, there must be a valid short trade before you can go long again in that currency pair.

Hopefully this clears things up for you. Hopefully Bull101 will read my response and clear anything up if need be. Also, Bull101, if I offended you by answering a question that has to do with your system, I'm sorry and mean no disrespect. I figured I would try and answer the question to help others as I have been helped in the past. If my answer to the question was incorrect, I'm truly sorry for that. I believe I have a pretty solid understanding of the system as the rules have been stated thus far, so I wanted to try and help a fellow trader.
This is 100% correct. Thanks for answering Dl

Bull101
  • #107
  • Jun 17, 2008 1:48pm Jun 17, 2008 1:48pm
Trade Updates:

GBP/USD Reached +50 and a break even stop loss was set that was later hit. +0 for GBP/USD.
NZD/USD is Still Open, currently at +25, stop loss still at -100.
NZD/CHF is still open, currently at -2, stop loss still at -100.

Bull101
  • #108
  • Jun 17, 2008 1:58pm Jun 17, 2008 1:58pm
I just wanted to say that I believe this system has great potential and in just a few days of this thread being open Bull101 has been so generous and kind to all of us. He has answered every single question I have asked and it a very quick manner. I think with the results we are seeing from the 3 calls from yesterday, this system has great potential. It's nice to be part of a thread like this one!
  • #109
  • Jun 17, 2008 2:23pm Jun 17, 2008 2:23pm
Bull,
Impressive looking system so easy I could do it LOL.

Thanks
  • #110
  • Jun 17, 2008 2:48pm Jun 17, 2008 2:48pm
I have a quick question for Bull101. We are to never risk more than 3% of our available balance at one time, which I think is a great idea. Let's say for instance that we get 6 signals in one day but ones capital is not enough to trade all 6 and still risk only 3% of our capital. Is there a method that you use to decide which trades may be the most profitable or in a situation like that, is it best to just pick the pairs we are most comfortable with out of the 6 signals? I know some people have the opportunity to trade nano lots where each pip may be $0.10 or something like that but my live account is with FXCM so I don't have that option as a mini lot is the smallest lot possible. Of course this question is more for future reference as are just beginning this system so it's strictly demo trading now.
  • #111
  • Jun 17, 2008 3:00pm Jun 17, 2008 3:00pm
I have kind of the same problem, an I've traded with FXCM for a few years (not very well I might add LOL) A big part of the problem is money Management for me because like you I do not have 10000 dollars in my pocket to properly fund a mini account.

We end up with way too much of our money on the table and instead of a drawdown we're wiped out (sound Familiar?)

I just punted, I'm currently running a demo on interbankfx and will open a micro account with like $500 in a couple of weeks when I have mastered the system and TF I want to trade.

Because until I find a system i can trade with consistant profits, using more than a weekends beer money is crazy.

Good Luck
  • #112
  • Jun 17, 2008 3:10pm Jun 17, 2008 3:10pm
It sure sounds like we fell from the same tree! That's exactly what my problem is. I'm looking to start with $500 also. Granted I know that is not much and many people may laugh but that's the best I can do right now. I can't give up on my dream of trading forex for a living one day though and I know I must start somewhere. I'm not too concerned with making a lot of money right now. I know my capital ($500) will not allow that to happen. I've been working my current full time job since I graduated from high school (I'm currently 25) so I'm not in no rush to try and trade for a living next month or anything like that. I know it's gonna take time due to m lack of funds. Maybe Bull101 can outline an example of a money management plan for the traders like myself who are "capital stricken"!. Maybe something like, for every $2,000 you have in capital, you trade one mini lot or something like that. That way as your capital increases, we can increase our lot size. Our stop loss and profit targets or rules of the system would not change but we could slowly build our capital that way. Like for me, since this is a daily system, I'm not sure what amount of capital is enough to be trading a mini lot. So, if Bull101 can give an example, it does not have to be very detailed because I know that is very timely, I'm sure that would help the young traders like myself or the ones, who like myself, don't have thousands to put in an account and start trading with. Any help, from anybody, not just Bull101, would be greatly appreciated. Jimbop is correct with everything he said. Our capital is so small that rather than have a drawdown, we get wiped out and have to exit before we get a margin call or something like that.
  • #113
  • Jun 17, 2008 3:25pm Jun 17, 2008 3:25pm
I really think you should try a Micro account, The rules all work the same, you just don't win or lose quite as much....

Like you said you're 25 you have PLENTY of time to build that up

(BTW I think me and everyone else here who isnt already would like to be full time successful traders LOL)

I'm 41 I have money but my wife wont let me spend alot LMFAO!
  • #114
  • Jun 17, 2008 3:32pm Jun 17, 2008 3:32pm
Hey, I'm going to PM you Jimbop so we don't take up space on the the thread for the system.
  • #115
  • Jun 17, 2008 5:37pm Jun 17, 2008 5:37pm
Quoting Dl1982
I have a quick question for Bull101. We are to never risk more than 3% of our available balance at one time, which I think is a great idea. Let's say for instance that we get 6 signals in one day but ones capital is not enough to trade all 6 and still risk only 3% of our capital. Is there a method that you use to decide which trades may be the most profitable or in a situation like that, is it best to just pick the pairs we are most comfortable with out of the 6 signals? I know some people have the opportunity to trade nano lots where each pip may be $0.10 or something like that but my live account is with FXCM so I don't have that option as a mini lot is the smallest lot possible. Of course this question is more for future reference as are just beginning this system so it's strictly demo trading now.
Hello,

This situation does not happen very often, but when it does happen, I will take the pairs that have the next highest support or resistance level the farthest away. The reason for that is because I believe it will be easier to get to +100 when the next point where it may have a reversal is furthest away.

Let me know if I need to clarify that,
Bull101
  • #116
  • Jun 17, 2008 5:39pm Jun 17, 2008 5:39pm
Quoting Dl1982
It sure sounds like we fell from the same tree! That's exactly what my problem is. I'm looking to start with $500 also. Granted I know that is not much and many people may laugh but that's the best I can do right now. I can't give up on my dream of trading forex for a living one day though and I know I must start somewhere. I'm not too concerned with making a lot of money right now. I know my capital ($500) will not allow that to happen. I've been working my current full time job since I graduated from high school (I'm currently 25) so I'm not in no rush to try and trade for a living next month or anything like that. I know it's gonna take time due to m lack of funds. Maybe Bull101 can outline an example of a money management plan for the traders like myself who are "capital stricken"!. Maybe something like, for every $2,000 you have in capital, you trade one mini lot or something like that. That way as your capital increases, we can increase our lot size. Our stop loss and profit targets or rules of the system would not change but we could slowly build our capital that way. Like for me, since this is a daily system, I'm not sure what amount of capital is enough to be trading a mini lot. So, if Bull101 can give an example, it does not have to be very detailed because I know that is very timely, I'm sure that would help the young traders like myself or the ones, who like myself, don't have thousands to put in an account and start trading with. Any help, from anybody, not just Bull101, would be greatly appreciated. Jimbop is correct with everything he said. Our capital is so small that rather than have a drawdown, we get wiped out and have to exit before we get a margin call or something like that.
Truth is that you can pretty much start with any amount of money. Just as long as your with a broker that will let you trade small enough to only risk 3%, you'll be fine. The system will always be positive over the long run, and your balance will build, slowly increasing that 3%.

Just as long as you are not ever risking more than 3% of your balance, any starting amount of capital will produce positive results.

Bull101
  • #117
  • Jun 17, 2008 5:39pm Jun 17, 2008 5:39pm
Quoting Jimbop
I really think you should try a Micro account, The rules all work the same, you just don't win or lose quite as much....

Like you said you're 25 you have PLENTY of time to build that up

(BTW I think me and everyone else here who isnt already would like to be full time successful traders LOL)

I'm 41 I have money but my wife wont let me spend alot LMFAO!
This may be a viable option for many starting with smaller amounts of capital. Your balances will build, and you will increase what that 3% makes over time.

Bull101
  • #118
  • Jun 17, 2008 5:41pm Jun 17, 2008 5:41pm
Quoting Dl1982
Hey, I'm going to PM you Jimbop so we don't take up space on the the thread for the system.
Feel free to put your questions out to the public if your comfortable doing that. The more questions being answered to the public, the more everyone benefits

Bull101
  • #119
  • Jun 17, 2008 5:46pm Jun 17, 2008 5:46pm
Quoting Jimbop
I have kind of the same problem, an I've traded with FXCM for a few years (not very well I might add LOL) A big part of the problem is money Management for me because like you I do not have 10000 dollars in my pocket to properly fund a mini account.

We end up with way too much of our money on the table and instead of a drawdown we're wiped out (sound Familiar?)

I just punted, I'm currently running a demo on interbankfx and will open a micro account with like $500 in a couple of weeks when I have mastered the system and TF I want to trade.

Because until I find a system i can trade with consistant profits, using more than a weekends beer money is crazy.

Good Luck
I have heard some say that FXCM might be allowing micro accounts soon, but don't quote me on that.

Bull101
  • #120
  • Jun 17, 2008 5:58pm Jun 17, 2008 5:58pm
That would be a good thing if they did that. I would then not have to worry about opening another live account. Hopefully they will do that by the time I go live. Thanks for all the answers Bull101. It's good to know that any amount of money is good enough to start with this system. A micro lot is best for people with small capital because 3% on a $500 mini account is 15 pips and that's not even enough to cover the 100 pip stop loss. To all the people posting on this thread, lets make this the best thread and system out there. Bull101 was generous enough to share his system with us and he is working with us all. Let's not see those efforts of his not get noticed! 1 hour before we see if we have any new signals for today!!!
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