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  • #621
  • Edited Aug 30, 2008 6:17am Aug 29, 2008 11:29pm | Edited Aug 30, 2008 6:17am
Quoting paradoxical
Hi Sonic,

I'm also an avid follower of your thread. I invested many hours studying the Kantor system, and the number ONE concern for me was the drawdowns. I was caught in the GBP/JPY meltdown, and learned a very hard lesson there. That lesson is that, no matter what indicators or fibs or fundamentals you may use, there is no way you can predict just how high a pair may rise or fall. Just when you think there's a top or bottom, a new top or bottom comes. After you swear that's it...that it can't go up or down any further, it does. That's how accounts are wiped. This one had a 1400 PIP drawdown just last month. What if there were a few wins, and then another drawdown of 2400 PIPS? How many here can withstand that unless you're doing micro lots. And, if you're doing micro lots, you don't really gain much when you make those 1000 pip gains. I don't know how to make indicators or anything. But, i know from experience that the number one thing you must do in forex is to not get wiped out by not using stop losses. With all due respect to Brian, the inventor of the Kantor system, not using stops is a recipe for disaster. Another recipe for disaster is using a system that has bad money management where you're going for 150 and risking 200. Yes, you're gonna have those months where you do just great. The months to plan for are the ones where you lose 2000 pips or even more. A win percentage of over 70%, and you lose money? Give me a break. Even someone with zero experience in forex can see there's something wrong with that picture.
u should say that out..in the kantor thread...buddy..anyway they are gone now...
-1400 pips can make me out of the forex business....
Recently, I posted nice pdf document regarding about trading mentality in my journal..go read it if u have time buddy...

sonic
  • #622
  • Aug 31, 2008 7:44pm Aug 31, 2008 7:44pm
Hey, gang....hope everyone is having a good weekend!

Valid signal today....EUR/CHF Long....opened two positions at 1.6155....stoch looks kinda weak, but according to system rules it is valid.

Have a great and profitable Labor Day!
  • #623
  • Aug 31, 2008 8:49pm Aug 31, 2008 8:49pm
Well, as you can see on the chart attachments below, the weak green long stoch did turn red during the first hour or so of today's session. This is a fairly uncommon occurance, but this is the second time in the last two weeks. I bought both positions, so reckon I'll just ride it out and see what happens. Sometimes when we have a valid buy/sell signal with one or both candles weak, it might pay to just wait until the signal has been valid for at least an hour. What do ya'll think about this problem?

Some time ago after this system sustained some big loses, Bull made a change in this system. He decided to start putting a 100 pip TP on the second position instead of just letting it run on trying for a possible 150-250 pips. Will some of you veteran traders take a look this week and let us know if the conditions have changed and we can go back to letting the second position just run?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur-chf.gif Size: 19 KB
Click to Enlarge Name: eur-chf2.gif Size: 21 KB
  • #624
  • Aug 31, 2008 8:52pm Aug 31, 2008 8:52pm
My brokers time is GMT+2,so i did not see a valid signal for the EUR/CHF.
  • #625
  • Sep 1, 2008 8:11am Sep 1, 2008 8:11am
Thanks Grpip for supporting this interestinf thread

Please, anybody is earning money with this system?

Regards.
  • #626
  • Sep 1, 2008 8:48am Sep 1, 2008 8:48am
Quoting Golum
Thanks Grpip for supporting this interestinf thread

Please, anybody is earning money with this system?

Regards.
Think most are still demoing this system at the present. I have made and lost some demo money with this system....think the jury is still out on whether it will be profitable long term.
  • #627
  • Sep 1, 2008 7:17pm Sep 1, 2008 7:17pm
No valid signals for today....still holding yesterday's two positions EUR/CHF, but about -85 pips....will hold until SL or TP hit on both positions.

Have a great week!
  • #628
  • Sep 2, 2008 7:18pm Sep 2, 2008 7:18pm
Hey, gang! Took a big hit today as both EUR/CHF trades hit SL for a -200 pip loss....not a good start for September. But the trade had a weak green stoch bar and turned red within the first hour and it was downhill from there.

Anyway, valid strong sell signal tonite on the AUD/CAD....price .8900....both stoch and AO have good strong red bars and price well below 200 SMA....see below chart. Good luck....hopefully we can recover some of those lost pips on this trade!
Attached Image (click to enlarge)
Click to Enlarge Name: audcad.gif Size: 19 KB
  • #629
  • Sep 2, 2008 8:00pm Sep 2, 2008 8:00pm
Grip,

what about this? i have this on my platform. is this valid for a buy?
Attached Image (click to enlarge)
Click to Enlarge Name: test 22.JPG Size: 60 KB
  • #630
  • Sep 2, 2008 9:55pm Sep 2, 2008 9:55pm
GRPip and sorsurus,

I saw both of your signals for trades tonight and didn't see either of those signals on my broker. I figured out why this is happening. I know Bull recommends using ODL Demo for signals but ODL has a Sunday candle which on your charts will only represent a partial day trading. Sunday candles also affect your indicators, in my opinion, in a negative way. I would try to find a demo account that does not have a Sunday candle. I know Alpari does not have a Sunday candle and that is what I use and their daily candle begins at 6pm EST. I'm pretty sure FXDD does not have a Sunday candle either but I don't know what time their daily candle starts.

Here are the 4 signals I got for tonight which as of right now are up over 300 pips total.

Short AUDUSD @ .8370
Buy EURAUD @ 1.7352
Short NZDUSD @ .6869
Buy EURNZD @ 2.1141

Here are my charts for the two signals you guys mentioned.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audcad_090308.gif Size: 16 KB
Click to Enlarge Name: usdchf_090308.gif Size: 17 KB
Find the edge, and keep it sharp.
  • #631
  • Sep 3, 2008 8:36am Sep 3, 2008 8:36am
Quoting sorsurus
Grip,

what about this? i have this on my platform. is this valid for a buy?
sosurus....sorry I'm just now getting back online...but you didn't miss a trade! My ODL USD/CHF chart is different from your chart....take a look! It shows the valid buy signal to be yesterday, not today. But yesterday, that buy signal wasn't there. Hope you understand what I'm trying to say here! 8^)
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 18 KB
  • #632
  • Sep 3, 2008 8:50am Sep 3, 2008 8:50am
Quoting EclecticJoe
GRPip and sorsurus,

I saw both of your signals for trades tonight and didn't see either of those signals on my broker. I figured out why this is happening. I know Bull recommends using ODL Demo for signals but ODL has a Sunday candle which on your charts will only represent a partial day trading. Sunday candles also affect your indicators, in my opinion, in a negative way. I would try to find a demo account that does not have a Sunday candle. I know Alpari does not have a Sunday candle and that is what I use and their daily candle begins at 6pm EST. I'm pretty sure FXDD does not have a Sunday candle either but I don't know what time their daily candle starts.

Here are the 4 signals I got for tonight which as of right now are up over 300 pips total.

Short AUDUSD @ .8370
Buy EURAUD @ 1.7352
Short NZDUSD @ .6869
Buy EURNZD @ 2.1141

Here are my charts for the two signals you guys mentioned.
Eclectic Joe....glad you're having a good run of pips today! Anyway, I don't claim to be a forex professional, just a novice who likes trading Bull's simple system and hope to be profitable live trading with it in the future. Bull said ODL was the best for his system, so reckon that's what I'll use. Anyone else is free to use any broker they choose, of course, but we really all need to be on the same page so we can compare apples to apples, not apples to oranges.
  • #633
  • Edited 1:32pm Sep 3, 2008 1:30pm | Edited 1:32pm
Eclectic Joe quote: "I know Alpari does not have a Sunday candle and that is what I use and their daily candle begins at 6pm EST. I'm pretty sure FXDD does not have a Sunday candle either but I don't know what time their daily candle starts."

Eclectic Joe....I didn't mean to sound so inflexible in my above answer to you! I'm just a creature of habit and don't like change....a lifetime of that way of thinking is so darn hard to change. After I posted my answer to you, I was sitting here thinking.....he's up over 300 pips and I'm sitting here with +50. Something's wrong with that scenerio!! 8^)

So E. Joe, again showing my ignorance, will you explain to me and others who don't know, what is the Sunday candle thing on ODL? All I know is that Bull said that ODL opens their trading week on Sunday evening, 7 p.m., Central Daylite Time, USA.....and he posted his trades every day within minutes after that time. When does your trading week start with Alpari and how does that make a difference with our indicators? Actually, if Alpari has better and truer signals, I'm not opposed at all to doing an Alpari demo. Please help me and others here to understand?
  • #634
  • Sep 3, 2008 5:00pm Sep 3, 2008 5:00pm
Please, anyoone has tested the 4 hours version of this system?
  • #635
  • Sep 3, 2008 7:20pm Sep 3, 2008 7:20pm
hahaha.....pity on me.

no wonder i always have a different setup from yours. already downloaded a new platform from odl. will use it for this technique.

thanks for the clarification. lets pipping!
  • #636
  • Sep 3, 2008 7:56pm Sep 3, 2008 7:56pm
No new valid signals today.

Still holding second trade AUD/CAD Long currently at +41 pips.
  • #637
  • Sep 4, 2008 12:16am Sep 4, 2008 12:16am
In all honesty I don’t know why some brokers created a Sunday candle and ODL is not the only broker that has a Sunday candle. I have seen forex mentioned as a 24/7 market but in actuality forex is a 24/5 market. So for a week of trading you should only have 5 candles but with some brokers you will have 6. And that extra candle will throw indicators off because Sunday night you are only getting partial data and Monday you will only get partial data. For me to explain this better I will use Eastern time to make this make sense.

All these numbers are fictitious and I’m just going to use a long movement in pips. Now I know no one ever uses a 6 day moving average but I will use it to show the difference. The opening price will be 1.0000.

ODL (broker for example only, since they have a Sunday candle)
Sunday candle (6pm-11:59am) 15 pips, closing price 1.0015
Monday candle (12:00am-5:59pm) 100 pips, closing price 1.0115
Tuesday candle (6:00pm-5:59pm) 120 pips, closing price 1.0235
Wednesday candle (6:00pm-5:59pm) 125 pips, closing price 1.0360
Thursday candle (6:00pm-5:59pm) 130 pips, closing price 1.0470
Friday candle (6:00pm-5:59pm) 135 pips, closing price 1.0605

Alpari (broker for example only, since they do not have a Sunday candle)
Previous Friday candle (6:00pm(Thursday)-5:59pm(Friday)) 110 pips (just to show how it will change an indicator), closing price 1.0005
No Sunday candle
Monday candle (6:00pm(Sunday)-5:59pm(Monday)) 115 pips, closing price 1.0115
Tuesday candle (6:00pm(Monday)-5:59pm(Tuesday)) 120 pips, closing price 1.0235
Wednesday candle (6:00pm(Tuesday)-5:59pm(Wednesday)) 125 pips, closing price 1.0360
Thursday candle (6:00pm(Wednesday)-5:59pm(Thursday)) 130 pips, closing price 1.0470
Friday candle (6:00pm(Thursday)-5:59pm(Friday)) 135 pips, closing price 1.0605

ODL at the close of Friday will have a 6 day SMA of 1.0300
Alpari at the close of Friday will have a 6 day SMA of 1.2983

Now this does not seem like much here when you look at it (17 pips) but in the long run that extra candle will add up. The AO Oscillator is based on a 5 day and 34 day simple moving average. So just take for example the 5 day moving average over a year and that would be almost a 1200 pip difference on the 5 day moving average with that extra candle. All indicators are based on price (close, open, median, whatever you choose), so you can see how that price difference will change the indicators.

I hope this made sense to everyone, if not, ask questions, and I will try to make better sense of it all.

Golum and everyone about Bulls 4 hour strategy. Two weeks ago I found both his 4 hour strategy and daily strategy. I use the AO, the Stoch histogram, and the Advanced ADX indicator from his 4 hour strategy and applied it to the daily charts. Whenever all three colors line up and price above/below the MA, I trade in that direction.

Now back to the trades I took yesterday. If I would have followed Bulls’ money management strategy, all 4 trades would have hit the 50 and 100 pip profit, but I have different money management, so all the trades are still open, and in profit. I will share the money management strategy tomorrow if you would like. I was also thinking that if you use this strategy on the daily charts, following Bulls’ money management strategy, and you take profits, then moving down to the 4 hour charts to re-enter when the 4 hour chart matches the trend of the daily chart. Anyone interested in seeing if this would work?

I’m adding this, not to gloat, but from what I have seen, and also looking back on historical data, entries and exit, I think this is a very good system. I started a new demo account on 8/19 just to try this system and since then have made 617 pips, lost 192 pips, and have 1236 pips floating. I want to keep this thread alive and get everyone’s experience with it.
Find the edge, and keep it sharp.
  • #638
  • Sep 4, 2008 12:59am Sep 4, 2008 12:59am
Quoting EclecticJoe
.
. I will share the money management strategy tomorrow if you would like. I was also thinking that if you use this strategy on the daily charts, following Bulls’ money management strategy, and you take profits, then moving down to the 4 hour charts to re-enter when the 4 hour chart matches the trend of the daily chart. Anyone interested in seeing if this would work?
Yes, please, it sounds interesting.
  • #639
  • Edited 7:25pm Sep 4, 2008 7:21pm | Edited 7:25pm
Hey, gang....no valid signals tonite.

Those of you that held on to the second position of the AUD/CAD Short trade saw it close out today hitting the +100 pip TF....so that trade did +150 pips this week. If any decided to just let that second position run and you took the position at around .8900, then you are at +180 pips with still a good strong sell signal. Even if this trade is still going strong tomorrow morning, might wanna think about closing it out everything before the NFP announcement....just my opinion.
  • #640
  • Sep 4, 2008 8:32pm Sep 4, 2008 8:32pm
Quoting EclecticJoe
Now back to the trades I took yesterday. If I would have followed Bulls’ money management strategy, all 4 trades would have hit the 50 and 100 pip profit, but I have different money management, so all the trades are still open, and in profit. I will share the money management strategy tomorrow if you would like. I was also thinking that if you use this strategy on the daily charts, following Bulls’ money management strategy, and you take profits, then moving down to the 4 hour charts to re-enter when the 4 hour chart matches the trend of the daily chart. Anyone interested in seeing if this would work?

I’m adding this, not to gloat, but from what I have seen, and also looking back on historical data, entries and exit, I think this is a very good system. I started a new demo account on 8/19 just to try this system and since then have made 617 pips, lost 192 pips, and have 1236 pips floating. I want to keep this thread alive and get everyone’s experience with it.
Eclectic Joe....very interesting info you have shared with us....don't understand about the Sunday candle problem, but I don't have to. I just need to know what broker to use....what time that broker starts their week....and what indicators I need to use.....then I'm off to the races....or the poorhouse! 8^) I would like you to explain more about your MM for this system.

Speaking for myself, I'd like to explore your "modified" Trendillator Daily System a little further and get more info about your MM strategy. I already have an Alpari MT4 demo account open and I'll put the system indicators....AO, Stoch, and Advanced ADX....on there and be ready to trade next week. Does Alpari open their week in U.S.A. on Sunday at 5 p.m. Central Daylite Time?
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