The Holy Grail - Found | Page 30 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Your own HOLY Grail (and how you know you've found it) 19 replies

Developing the "Holy Grail" Trading System 4 replies

I may have found the Holy grail 75 replies

I think I found a holy grail. 17 replies

Attachments: The Holy Grail - Found
Exit Attachments

The Holy Grail - Found

  • #581
  • Jan 26, 2008 8:45pm Jan 26, 2008 8:45pm
I doubt people put much into this. I cant figure what this system actually .. if its subjective then its not a 97% system. At best 40-60.. Not much for turtle trading. Forex will eat you up with the break out stuff.
  • #582
  • Jan 27, 2008 9:40am Jan 27, 2008 9:40am
Quoting JFX81
This thread amazes me. All of these people trading and nobody asks for an account statement showing the amazing 97% win rate.

But hey, its only money...

Hey JFX81 -

Thank you for your continued interest in this thread and your valuable advice. I am sure that followers of this thread appreciate your contributions.
I have been PM'd by several traders wanting me to help them learn to trade after I have finished with my current students in March. If you would like, I can reserve a spot for you.

I have finished my trading for January. Attached is a statement.
Attached Image (click to enlarge)
Click to Enlarge Name: Jan.GIF Size: 52 KB
Chance favors the prepared
  • #583
  • Jan 27, 2008 9:44am Jan 27, 2008 9:44am
Quoting 4XWeezal
I doubt people put much into this. I cant figure what this system actually .. if its subjective then its not a 97% system. At best 40-60.. Not much for turtle trading. Forex will eat you up with the break out stuff.

For those needing advice, I attach a setup I took in December. This was on the Cable, and at the time that pair showed an uptrend on the daily chart. As I do with all pairs that I trade, I draw a horizontal line where I see the strong S/R level. In this trade I placed a buy 6 pips above the horizontal line. I leave it to you to see what happened with this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: setup1.GIF Size: 56 KB
Chance favors the prepared
  • #584
  • Jan 27, 2008 11:48am Jan 27, 2008 11:48am
Hi John,

Would you mind attaching that MACD you've got.
I like the look of red below 0 and green above 0.

Thanks,

Ed.
  • #585
  • Jan 27, 2008 12:42pm Jan 27, 2008 12:42pm
Quoting dsb104
The 97% win rate could be based on having a 1000+ pip stop

Currently I am trading a new system for 4 months now with excelent results .I had 74 days of trading,6 days was not profitable ,and stop loss was not 1000 pips,but was max 80 pips.So I made over 2000pips in profit.I dont use any indicators .
{Promotion Removed}
  • #586
  • Jan 27, 2008 4:08pm Jan 27, 2008 4:08pm
Quoting JohnW
Hey JFX81 -

Thank you for your continued interest in this thread and your valuable advice. I am sure that followers of this thread appreciate your contributions.
I have been PM'd by several traders wanting me to help them learn to trade after I have finished with my current students in March. If you would like, I can reserve a spot for you.
Thanks, but no thanks. You must understand that my postings in here are purposeful and meant to make sure people take precaution before committing their hard earned money to a strategy that some don't seem to quite grasp and have not actually seen to be profitable save for the word of a poster on the internet.
Quoting JohnW
I have finished my trading for January. Attached is a statement.
It is a bit curious as to why you would post only a month worth of trades but at least it is something. I actively will look forward to seeing this thread play out and can only wish you the best.
  • #587
  • Jan 27, 2008 7:34pm Jan 27, 2008 7:34pm
Quoting Ted1983
Hi John,

Would you mind attaching that MACD you've got.
I like the look of red below 0 and green above 0.

Thanks,

Ed.
My bad, Its OSMA.
  • #588
  • Jan 28, 2008 12:43pm Jan 28, 2008 12:43pm
JohnW: Please continue to post examples of your trades. many of us are open minded and do not yet know everything there is to know about trading and are always ready to learn more.

JFX: Maybe you should join the police force because you seem well suited to that type of work. If everyone behaved the way you do, nobody would be sharing anything substantive on this forum. perhaps that is your intention.




Quoting JFX81
Thanks, but no thanks. You must understand that my postings in here are purposeful and meant to make sure people take precaution before committing their hard earned money to a strategy that some don't seem to quite grasp and have not actually seen to be profitable save for the word of a poster on the internet.

It is a bit curious as to why you would post only a month worth of trades but at least it is something. I actively will look forward to seeing this thread play out and can only wish you the best.
  • #589
  • Jan 28, 2008 4:34pm Jan 28, 2008 4:34pm
Quoting natejax

JFX: Maybe you should join the police force because you seem well suited to that type of work. If everyone behaved the way you do, nobody would be sharing anything substantive on this forum. perhaps that is your intention.
I don't see the relevance of this type of comment and it simply shows a lack of understanding about what it is I set out to do. If every post on this forum went unquestioned then this would be a forum of buffoons, no? Hard to argue against that...

My behavior is far from out of line and I actually post a decent amount of FREE analysis here and elsewhere. Think about it, the very question you asked was for JohnW to post more about his trades, right? Well if you want to know the setups he is looking at all he would have to do would be to post his account statement, white out any sensitive info, and you would be able to see EVERY trading setup that led to the 97% win rate. Not only that, but that would be infinitely less time consuming than posting trade by trade on this thread. Let's be serious, isn't that the best way to see it?

While it is certainly possible to have a 97% win rate you can't argue that it is likely and shouldn't be questioned. Like I have said earlier in this very thread (if you have read it all), I want nothing but success for JohnW and anyone who trades his method. Who doesn't want to see some well intentioned forum-goers make some $ ???

But hey, its only money!
  • #590
  • Jan 28, 2008 8:55pm Jan 28, 2008 8:55pm
JFX: sorry, you have made some very good points. it just seems like every time i am on a thread in which someone presents a genuinely new idea, all the experts come out of the woodwork to pose as if this were some sort of beauty pageant.

it seems that you had good intentions so i apologize for making assumptions..

in any case, i hope that we can learn more about the trade setups. i have noticed a pattern myself with prices regularly going to that obvious stop loss places. though the one time i tried to outsmart the market and capitalize on that, i wound up with a losing trade. but It seems like we have several people here who are doing that successfully. i would like to learn more about it as i think they could be on to something.

i admit the 97% seems too good to be true. but i am willing to give the claims the benefit of the doubt until i see evidence otherwise. even if someone was willing to blindly throw money at this idea, i do not see any live trade calls being made, so i don't know where the threat lies for new traders.

best regards,

natejax
  • #591
  • Jan 28, 2008 9:52pm Jan 28, 2008 9:52pm
No prob, I also look forward to this thread continuing and me being able to extract as much *useful* information as possible That sentiment goes for everyone else here paying attention!

Happy trading
  • #592
  • Jan 28, 2008 10:31pm Jan 28, 2008 10:31pm
Quoting JohnW
For those needing advice, I attach a setup I took in December. This was on the Cable, and at the time that pair showed an uptrend on the daily chart. As I do with all pairs that I trade, I draw a horizontal line where I see the strong S/R level. In this trade I placed a buy 6 pips above the horizontal line. I leave it to you to see what happened with this trade.
I checked the chart, and I found that the buy stop entry price is about 1.0345+pips 6 = 1.0351, but then the price went down to 2.0317(SL should be 1.0321) before went up to TP 1.0371.

So i think that the fixed SL 30 is not appropriate.
John, Do you have any comments?
Rhythm, Motion, Emotion and Risk Reward.
  • #593
  • Jan 28, 2008 11:21pm Jan 28, 2008 11:21pm
Quoting JohnW
Hey JFX81 -

Thank you for your continued interest in this thread and your valuable advice. I am sure that followers of this thread appreciate your contributions.
I have been PM'd by several traders wanting me to help them learn to trade after I have finished with my current students in March. If you would like, I can reserve a spot for you.

I have finished my trading for January. Attached is a statement.
I analynize the statements. Below is the some info:
1, gbpusd, SL 30, TP 20
2, eurjpy, SL 110, TP 600
3, usdjpy, SL 100, TP 50
4, usdcad, SL 30, TP 20
5, eurusd, SL 40, TP -2
6, eurusd, SL 64, TP 22
7, eurjpy, SL 129, TP 5
8, usdjpy, SL 10, TP 20
9, eurjpy, SL 150, TP 16
10, gbpusd, SL 100, TP 10
11, gbpusd, SL 31, TP 9
12, gbpusd, SL 21, Tp 39
13, usdcad, SL 32, Tp 0
14, usdcad, SL 15, TP 0
15, audusd, SL 80, TP 100
16, eurusd, SL 70, TP 103
17, eurjpy, SL 150, TP 890

Now I am confused with your strategy. John, Do you use different TP and SL for different currency pair? Or do you use different strategy from written above by you?
Thanks for your explanation.
Rhythm, Motion, Emotion and Risk Reward.
  • #594
  • Jan 29, 2008 8:24am Jan 29, 2008 8:24am
aihua5-

The EUR/JPY is my personal favorite pair. Because of its positive carry and my familiarity with it, I give it lots more room in a trade.

The 30-pip SL is a guide. Since I use S/R for trade entry, it makes sense to use it as an SL. If I find an S/R level close to the 30-pip S/L, I will use that instead.

Profitable trading is as much an art as a science. Trading requires thinking about what makes sense. Every profitable trading system I have ever seen has some discretion in it. For example, I never trade NFP, even if I see a good setup. Every EA I have tried, which by their nature use firm S/L and T/P points, overtrades and ultimately blows up. I prefer to select (that's discretion) opportunities that are optimum. I prefer to take about 20 trades per month.

Most of the trades (with small lot sizes) were taken as a result of my trying someones else's ideas (EA or signal service). Despite a positive overall result with them, they merely act to confirm the benefits of my trading method.

Trading is not assembly line work. Tons of vendors try to convince you to buy systems claiming that "every time 3 indicators line up, enter the market". Trading without thinking (what news is coming, what are the fundamentals, where is the long term trend) will ultimately fail.
Chance favors the prepared
  • #595
  • Jan 29, 2008 11:29am Jan 29, 2008 11:29am
Quoting dagoods
thought john w might findd this interesting....

Good read on trading I like to trade using lines. Lines define support and resistance areas. Lines can be [...] are.

For example, if the floor traders are gunning for money-management stops, guess what price levels they will test? Clearly, the pivot point support and resistance levels are the prices at which many stops are placed because everyone knows where these expected trading limits are.

The central pivot point (CPP) is the equilibrium point around which trading is expected to occur. The calculation for tomorrow’s CPP is simply the average of today’s high, low and close. When ]...u are interested in. Study the next day's price action in the context of those pivot points so that you get familiar with the dynamics of the market.
Hi Dagoods, who is the author of this article?

Thanks!

D.
  • #596
  • Jan 29, 2008 5:12pm Jan 29, 2008 5:12pm
Just posting some possible set ups. Short on the EJ just under the red line if it breaks. Some resistance was show days back here also.
Attached Image
Life is too short to have anything but delusional notions about yourself.
  • #597
  • Jan 29, 2008 5:35pm Jan 29, 2008 5:35pm
Quoting Durga
Hi Dagoods, who is the author of this article?

Thanks!

D.
I have no idea.... go google it if u really want to know just google a paragraph of it it should come up


hey john w, have u been reding skunnys thread? just curious....
  • #598
  • Jan 29, 2008 7:38pm Jan 29, 2008 7:38pm
Quoting JohnW
aihua5-

The EUR/JPY is my personal favorite pair. Because of its positive carry and my familiarity with it, I give it lots more room in a trade.

The 30-pip SL is a guide. Since I use S/R for trade entry, it makes sense to use it as an SL. If I find an S/R level close to the 30-pip S/L, I will use that instead.

Profitable trading is as much an art as a science. Trading requires thinking about what makes sense. Every profitable trading system I have ever seen has some discretion in it. For example, I never trade NFP, even if I see a good setup. Every EA I have tried, which by their nature use firm S/L and T/P points, overtrades and ultimately blows up. I prefer to select (that's discretion) opportunities that are optimum. I prefer to take about 20 trades per month.

Most of the trades (with small lot sizes) were taken as a result of my trying someones else's ideas (EA or signal service). Despite a positive overall result with them, they merely act to confirm the benefits of my trading method.

Trading is not assembly line work. Tons of vendors try to convince you to buy systems claiming that "every time 3 indicators line up, enter the market". Trading without thinking (what news is coming, what are the fundamentals, where is the long term trend) will ultimately fail.
John, Thank you very much. I got it.
I think that i learned a lot from your posts.
Hope that you share more expericence.
Rhythm, Motion, Emotion and Risk Reward.
  • #599
  • Jan 30, 2008 9:46am Jan 30, 2008 9:46am
Quoting hoss
Just posting some possible set ups. Short on the EJ just under the red line if it breaks. Some resistance was show days back here also.

Thanks for the example, Hoss. But maybe I misunderstood the strategy. aren't we supposed to go short just above the support line, in anticipation that the price will go below to take out the stops?
  • #600
  • Edited 9:35pm Jan 30, 2008 12:39pm | Edited 9:35pm
Hi Nate,

In the eur/jpy chart above, the red line is support, so the proper placement of a sell stop (6 pips) would be BELOW the red line to be triggered as the price dropped below support at 157.06. But, two problems
exist with this breakout, 1) is the round # (157.00) which may inhibit a price
drop, and 2) Is the strength of the euro. Its a good idea to keep the fundamentals in mind when deciding a currency's direction.

If a trade goes too far against me I'll hedge the position at a point where I can use another breakout or a continuation of my original direction to remove the hedge. The trick when using a hedge is to be able to remove it during a strong momentum move, otherwise you
may find yourself placing and removing it more than once. Thats the disadvantage of a hedge, so if you need to use one, try and set it up so that a breakout will give you a good place to remove it. Never use a hedge if you can help it, but NEVER let your losses just run away from you, eating up your account, you can hedge and stop the loss. (if your *broker allows it, Interbankfx does)
1 trader viewing now