weekly system: help?

Ive tried many systems, none have really resonated, and none have been profitable so far. I ask myself why? -often its because I just dont have time or patience to watch charts all the time.

So ive decided to just try and find a profitable weekly system. I cam accross this one that seems to really resonate with me:
http://forexfactory.com/showthread.php?t=11937
tkimbles weekly scalping method

I like the logic behind it, and alot of people seem to find it functional.
At this point id just settle for profitable.

So for something like this how often should you check the charts? if it reverses you have to move the opposite order up/down to the last weeks close, but how often should you check for that?

Do you think this is profitable on gdp/usd? many even used it successfully on gdp/jap.
Any more tips to actually get it to work/any other good profitable systems I should try out before?

Go thru the daily charts for the G/U and see what would have happened this week.
I took a very quick look at it. I have a 4 pip spread with FXCM, The long trade would have opened Mon. At which time you would have changed your entry on the short to last weeks close, 20283.
By today, Weds 11:11 EDT both trades, long and short would be stopped out.
Take a look at it again, but with a TP. If you had taken profit while the trades were open, it might work. Check it your R/R, to make sure it fits.
Then again to lock in some profit, you will need to look at the charts. That would defeat the reason for choosing this system.

For what its worth, I tried a lot of "systems" like this in the beginning, because I didn't know how to analyze charts. I don't believe in them.

how did you learn to analyze charts then mysticdriver?

Though a system may not be necessary, everyone has as method. They must have some systematic way of understanding what is going on out there, and taking advantage of it.

I attached a chart I am following right now as an example.
This chart is available free with the Oanda trading station. Pretty good for using live, but not great for backtesting. I also have a chart package that I pay for.
Start with the basics. A basic understanding of candle patterns, put some moving averages on your chart. The relationship of MA's to each other, helps to understand the phase of the market, ie: trending, ranging etc.
Go back in time, as far as you can, on your charts. Observe what happens
when the candles pass thru a moving average. What happens when MA's pass thru each other? I spent hours and hours doing this. This will get you familiar with your "playing field". Then, start checking out some other indicators. The stochastic, and MACD are probably the most popular.
Don't be fooled, these indicators, by themselves, are not signals.
They work together as a system.
There is plenty of free information on the web about indicators, ebooks etc.
Have you checked out the Articles thread, here in the beginners Q&A on FF?
So, after months, and many,many,many hours, I knew in theory, how these indicators worked but was not getting profitable. What made a big difference for me, was getting a mentor to help me put everything together into a system. By no means is this necessary for every body.
All this is just one part of trading. I can't stress how important Money Management is. The best system is no good without M/M.
Then theres psychology. When you have a system, and have personally backtested it. It will give you the confidence to trade it. Confidence in your system, is an edge in trading (IMO).
I could go on and on. Maybe someone else will jump in and give me a hand.
I will keep an eye on this thread. If you have questions. You can PM me if there is something specific.

Chris

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For some reason I can't upload the chart right now.

There we go, I had to resize it.
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