Proeureka Trading System (Pure Price Action)

Hello Traders

Trading currency is an art and one should love it to succeed.

This thread will showcase how one can Utilise the basics of price action such as support, resistance, trend lines to take trades.

There will be series of illustrations showcasing how to go about trading with a solid backing towards taking a trade.

It’s with constant practice one can get hold of the price action setups with blink of an eye.

Following are some of the fundamentals we will use to Buy or sell a pair

1. Check for the breakout at key levels

2. Check for retracement at key levels

3. Check for correlation at key levels

Closing the trades:

Once you have entered the trade you can use a running stop loss after 20 or 30 pips and scale out positions at 0.5, 1,1.5 and 2 percentage profits.

The other option is use a fixed 1:2 risk reward ratio.

The risk can be determined by fixing a constant pip such as 50 or 100

One thing to remember that whatever the system you follow there should be sound money management to fight your monkey mind from taking decisions that could blow your account.

Always remember if you want to stay in this game for a longer run you must be willing to take drawdowns, negative P/l months with a smile

Detailed performance and stats of this method which has a low drawdown of 9% can be viewed at this thread - Proeureka System (https://www.forexfactory.com/showthread.php?t=914053)

A chart from last week.

1 hr chart in CHF/Jpy showcasing how the price respected the support but once the level was broken it turned to resistence and the price just fell from this level.

News and Price action

A trade in GBP/USD last week. As the world is aware of the Brexit saga. The uncertainty along with breakout of the support rolled the Pound to a sell.

This is a nice example of correlation between news and price action

Everyone knows what the price did, but none knows what the price will do.

Yes you are absolutely right. Some of these are introductions to price action and are taught from the past. When the market opens on Monday will post more live trades.

So whats the point of this thread sir...are you gonna teach us your amazing system or just show us how good you are

when this system is already a part of commercial product then why are you making publicity here to gain the attention?HUH

This thread feeds from market so will teach from the live market from Monday. There is no use in teaching from the past. Some of the posts above are to understand what you will expect to learn from live markets basically how to handle key levels.

Its not attention. I can use that account with only one trade explorer so am linking to that thread which is of commercial value I agree.

But a beginner who is learning must not only understand the system but also the basics of profit factor, sortino ratio, drawdowns, average winners/ losers percentage to really make money

i am here to bang that to reader that the system is only a part and all these ratios will determine whether the system will survive on a longer run

This system does not depend on breakout alone as you will realise in the live markets

Hi, I found your first created thread and I wondered what happend to your Ichimoku System you invented? 80-85% winning rate is not bad.


Good Day i have been trading a great Ichimoku system for the past 2 years and the system has 80-85% winning rate. The Beauty of the system is its simplicity and great take profit and clear stop loss targets (Unique method).

The system will not be profitable as the risk reward ratio was not favourable. The important lesson for any system is the favourable risk reward ratio even with low winning percentage.

The picture below shows the minimum winning rate depending on the reward risk ratio. I will attach three systems soon to this thread so every one can monitor the performance of varying risk rewards

Is this thread silent foreover ?

Not yet since we both looked at it hehe