The Veteran Floor Trader Method

Quoting watchout4me

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Isto,

did you use this system to get this result or you patched which others like http://www.forexfactory.com/images/misc/paperclip.gif Profitunity (Chaos) Trading System by Bill Williams . can you tell us.

you said http://www.forexfactory.com/images/misc/paperclip.gif Profitunity (Chaos) Trading System by Bill Williams is also profitable?

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... you patched which others ...

Quoting isto

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Yes I use it on a demo account devoted only to this system.
I use it already three weeks (since I found this method described) and for the moment each week is better than previous.
At the end of week 2 I desided to share this on the forum, for I was surprised how effective it was with almost no effort and no requirement sof fancy tools or whatever else... and even market knowlege

I use the rules I described in the begining and there is nothing hidden.

As to the Chaos system - for the moment it is more profitable than loosing system for me. I use it on real and few demo accounts on H4 and D1 charts...


I do not understand exactly what do you mean...

If it seems to anybody that there is any suspicious or incorrect in this or another system I'd like to say (as I did in other posts):

I do not intend neither to convice, or pursuate or argue how good one or another system is.

I found something that I think might be useful for the others and shared it. That's all.

Everyone has enough brain and capability to think so as to decide whether something worths or not.

Wish you a nice week-end.

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Quoting isto

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Well...

It is amazing

Just one week resulted in about 20% total profit!

Look here

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Quoting watchout4me

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do you use this system to complement another system?

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Quoting watchout4me

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Isto,
do you wait until candle close b4 you open trade

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Quoting isto

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I use only the rules as I've descibed at the begining and I even opened a new demo account devoted to this only method...

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Quoting isto

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I use stop orders only. This period I placed orders on daily based charts about 1-2 hours before opening the European session. Orders have been placed just above the high of previous bar.

How far above depends on the landscape of the chart - sometimes just a pip or two, others 10 to 25 pips bove.

During some extreme moves like EURUSD on 10 July I've tried to enter second order but it is hard to decide where to place stop loss.

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Starting Balance - 1000 USD

[i]Trades from 25 June to 13 July[/i]
total orders closed: [b]112[/b]
P/L    [b]$188.64[/b]
num losses: 54      num profit:  58
los%           48%   prof%         52%

In USD
loss: [color="Red"][b]-196.897[/b][/color]
Profit: [b]380.7638[/b]
loss: [color="#ff0000"]16%[/color]
Profit: 32%

[i]Trades from 2 July to 13 July[/i]
total orders closed [b]56[/b]
P/L amount:  [b]139.55[/b]

num loss  23      num prof  33
los% 41%         prof% 59%


In USD
loss: [b][color="#ff0000"]-96.305[/color][/b]
Profit: [b]233.077[/b]
loss: [color="#ff0000"]8%[/color]
Profit: 19%

End Balance [b]1 201.22[/b]

Quoting JoshDance

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isto, I'll offer the obligatory skeptic's view here :-)

Is it possible that the results have been so good because GBPUSD and EURUSD have been in an *extremely strong* trend over the last 3 weeks? It would be hard not to make money on those two pairs over this period! I'm interested in how your system (or any, for that matter) performs when market conditions change from trending to ranging. Can you provide any insight as to how you think it will perform? My guess is that it will do quite poorly, as there is no trend to find retracements on, which is basically what you're doing, correct?

I should say that I'm only posting this to help people think about WHY systems work, and I hope you make a lot of pips!! Also, congratulations on your recent successes. Any method that makes money is awesome!!

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Quoting tiku

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How do you place your SL and how do you define your profit targets, if any?

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Quoting isto

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Sure Josh, You're right.

This is a trend following method and your post just approve that this is.

I also share your concern. As in saying "it is too good to be true"

I'm also too new to this and I'm just discovering how it works but:

comparing to other "trand following" system (which operate on the same markets, timeframe and periods) this one outperforms much better.

I am far away from any attempt to deny that there are other (perhas better) systems or to claim that this one is the Graal but 20% are 20%, right

This also might be the "gringo" happy hours... We'll see

I guess the system will depends also on the broker used and other stuff, but it forthcoming to see

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Quoting isto

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Sure Josh, You're right.


comparing to other "trand following" system (which operate on the same markets, timeframe and periods) this one outperforms much better.

I am far away from any attempt to deny that there are other (perhas better) systems or to claim that this one is the Graal but 20% are 20%, right

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Quoting isto

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No tiku I do not have target.

To have one for me means to flatter myself that I'm capable to predict what will do the market.

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Quoting Trumpcard

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Hi isto, which other systems have you compared this with?

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Quoting tiku

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How do you exit then? you use trailing sl for getting stopped out? Or do you exit when the reverse of trend is visible?

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Quoting Pip Rage

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How do you determine your initial Stop Loss and Take Profit?

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Quoting Pip Rage

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how do you move them once subsequent positions are opened>

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