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"vForce" the revolution

  • #461
  • Mar 5, 2009 5:20pm Mar 5, 2009 5:20pm
abedewi,

Thanks for all your comments. This is the kind of feeback im looking for. As for other pairs, im not against trading them at all. The issue is that I cant guarantee the results becuase I never tested them. I only trade the EU which is why this is the only pairs I tested. When I was mentored this is the way I was taught. Stick to 1 pair and learn it. If people want to trade other pairs and post here thats ok but I cant support them becuase the system was designed, tailored and optimised for the EU. The last thing I want to see is people posting here loosing pips becuase the system isnt desined for other pairs.

FJ


Quoting abedewi
I've been watching this system since its post and I can tell it's an excellent system and I agree with the author that it provides 80% success rate. In fact, I can also tell that a I'm confident about a signal when generated based on technical analysis.

I've the following obervations that I see valid and true about this system:
1- It should NOT be traded during asian session
2- The proposed stoploss is relatively high (average 50 pips) compared to other systems in that particular time frame 15 Min.
3- The target profit strategy could be improved...
Stacking pips since 2002
  • #462
  • Mar 5, 2009 5:26pm Mar 5, 2009 5:26pm
Eagle,

This can be done. I actually have a long term system thats been in development for almost 6 months. Its almost ready and I plan to release it in the early summer. To just change the settings of the indicator and throw it on her would be irresponsible of me. If people want this then I will have to go into testing mode and it could take months to get it right. If I see some demand the I will supply. Its that simple.

FJ

Quoting eagle4x
I agree with #5 from post #455, but the parameters need to be changed to trade longer time frames (I like 1hr and 4hr) - ForexJedi, any chance you would consider making those changes?
Stacking pips since 2002
  • #463
  • Mar 5, 2009 5:53pm Mar 5, 2009 5:53pm
Hi FJ
Its a great thread,thank you and RD for sharing your system
I would like to know are you consider the significant new such as tomorrow's NFP or you let the indicator "consider" it?

Thanks

Simon
  • #464
  • Mar 5, 2009 6:14pm Mar 5, 2009 6:14pm
Simon,

NFP is a big deal. I will be cautious with any trade I take today. Also I will not take any trade that gives a signal of the NFP news.

FJ

Quoting simonr
Hi FJ
Its a great thread,thank you and RD for sharing your system
I would like to know are you consider the significant new such as tomorrow's NFP or you let the indicator "consider" it?

Thanks

Simon
Stacking pips since 2002
  • #465
  • Mar 5, 2009 6:34pm Mar 5, 2009 6:34pm
I know youre all wondering what I look like in real life so I changed my avatar pic to a pic I just took with my webcam.

FJ
Stacking pips since 2002
  • #466
  • Mar 5, 2009 6:49pm Mar 5, 2009 6:49pm
No biggie.

TimeFreedom

Quoting forexjedi
Time,

I must have missed the post. The type of EA you mention would be great! I see an EA that updates stops and manages a trade but does not open trades as beneficial. Sorry fo the missunderstanding.

FJ
  • #467
  • Mar 5, 2009 6:59pm Mar 5, 2009 6:59pm
FJ,

I also will play it very close today since preNFP trading can be slow.

Here is my short-term view of EURUSD. 2572 is resistance area and needs to be broken and 2524 is support area, which also needs to be broken before I am confident a trade can be taken.

TimeFreedom

Quoting forexjedi
Simon,

NFP is a big deal. I will be cautious with any trade I take today. Also I will not take any trade that gives a signal of the NFP news.

FJ
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_vforce_03-05-09_01.gif Size: 18 KB
  • #468
  • Mar 5, 2009 7:49pm Mar 5, 2009 7:49pm
Ive inputed a some advanced technical analisys on my chart below. We have pivots for monthly, weekle and daily. Also plotted are yesterdays fibs. Ive added an upper TL resistance connecting lower highs and a lower TL support connecting higher lows. At the moment the price is at the daily pivot and also at the 50%fib from yesterdays price action. The conclusion is that the price can go either way today. Some of the reason are that the price is in the middle of the trianlge consisting of the upper and lower TL, the 50% fib and the price ranging on the daily pivot. We have weekly s1 pivot support at 452 monthly s1 at 428 and daily support 2 at 397 all below the price. Above the price we have as far as pivot are concerned we have daily r1 at 629, daily r2 at 713 and the weekly pivot at 722. What does all this mean? The price is in a bit of a mess. There is mega support and resistance in play here combined with the factors I first mentioned show no particular direction at the moment. I will hoever watch this chart and post comments as I see fit based on the price movement. If I was had to make a guess at what the price would do I would say it will bounce between upper TL and lower TL till the NFP news release then break out bullish. Lets see what happens. The next vForce signal should let us know whats going to happen. I will take a bullish bounce of the lower TL confirned by a Vforce bull signal and vice versa from the upper TL. This is my thoughts for fridays direction and how we will proceed with our chart from now on. Ill post all the important indicators on Sunday to help people out. Chart Below.

FJ
Attached Image (click to enlarge)
Click to Enlarge Name: vforcechart15min.gif Size: 16 KB
Stacking pips since 2002
  • #469
  • Mar 5, 2009 9:16pm Mar 5, 2009 9:16pm
I put v-force into mt4 but I dont get any alerts. What did I do wrong?
  • #470
  • Edited 10:00pm Mar 5, 2009 9:23pm | Edited 10:00pm
Since forexjedi has no issues with us exploring other pairs I will put my name in the hat for questions with regards to analyzing a few more pairs to unload the burden, so to speak. I just wanted to put up a few charts for Gbp/Usd, Gbp/Chf, and Gbp/Jpy.

First we'll tackle Gbp/Usd. The last couple of trades I would have taken the first one but not the second and here's why. If you notice on the first trade we had a solid retrace to the 61.8 fib, and if you study fibs at all this will 7 out of 10 times reach the 61.8 ext. or beyond. After first seeing the price spike through the 38.2 ext. and dead stop on the 8/8 Murrey I wasn't sure this had the strength to push to 61.8. So I decided when our Vforce signal had appeared to commit to taking profit at the 38.2 ext. instead as a safeguard with roughly 27+ pips.

The second trade I was not comfortable in taking because as we can see the price piercing through that magical 61.8 ext. and also with price becoming extremely oversold by approaching the +1/8 Overshoot Murrey level. This combination is way too risky for me and sure enough price is starting to consolidate at this area with no definitive direction.

Remember the is always another signal around the corner.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 72 KB
  • #471
  • Edited 10:05pm Mar 5, 2009 9:35pm | Edited 10:05pm
Now, Gbp/Chf. This is really one of my favorites and was hoping for good things but the last two trades were a "no trade" situation for me.

The first trade had "I'm reversing!!" written all over it with 1) a pin bar formation (remember the price action?), 2) it pierced a 38.2 extension, 3) previous resistance at the 5/8 Murrey, and 4) even the pin bar itself dead stopped at 1.65000 which is a major psychological barrier! So I definately passed here.

The last trade wasn't really as bad but if you look back we hit resistance at the 5/8 Murrey line 4 times and the Vforce signal was just too close! Now this trade may reach a 61.8 ext. or further but I wouldn't take the risk personally.

***UPDATE***

Just to let everyone know that the price did continue down to hit the 61.8 ext. for about 33-34 pips, if you were in.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 104 KB
  • #472
  • Mar 5, 2009 9:59pm Mar 5, 2009 9:59pm
My second favorite pair, the Gbp/Jpy, had an awesome move yesterday. As you can see in the first pic, with a 38.2 retrace (which are known to hit even the 261.8 extensions) and coming down from an extremely overbought Murrey level, price dropped significantly and you could have had a potential profit anywhere from 110 to 260 pips depending on your exit point. As conservative as I am, I decided to exit at the 61.8 ext., again not to be too greedy.

The last trade was tricky as my Murrey indicator has redrawn and the previous 5/8 Murrey is now a 6/8 Murrey which is a strong reversal level and price is also penetrating the 161.8 fib ext. around the same area raising my red flag to pass on this one. You can also pull another fib to the new swing high and watch for a possible retrace from there just in case.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 65 KB
Click to Enlarge Name: gbpjpy2.gif Size: 70 KB
  • #473
  • Mar 5, 2009 10:33pm Mar 5, 2009 10:33pm
At the moment the EU is still ranging within 20 pips of the DP. I suspect it ma head for the resistance TL then head back or the DP. Due to NFP today I will trade at .25% becuase is a high risk and highly unpredictable day. Lets see what happens.

FJ
Attached Image (click to enlarge)
Click to Enlarge Name: vforcechart15min.gif Size: 15 KB
Stacking pips since 2002
  • #474
  • Mar 5, 2009 11:46pm Mar 5, 2009 11:46pm
FJ pls I dont know how to set up daily weekly monthly pivots, and I see its important, maybe your template will help me or is their any indicator for those?
Quoting forexjedi
Ive inputed a some advanced technical analisys on my chart below. We have pivots for monthly, weekle and daily. Also plotted are yesterdays fibs. Ive added an upper TL resistance connecting lower highs and a lower TL support connecting higher lows. At the moment the price is at the daily pivot and also at the 50%fib from yesterdays price action. The conclusion is that the price can go either way today. Some of the reason are that the price is in the middle of the trianlge consisting of the upper and lower TL, the 50% fib and the price ranging on...
Add value everyday in Pips
  • #475
  • Mar 5, 2009 11:46pm Mar 5, 2009 11:46pm
I have an idea and i think it will help with trading this system more easily.

Have a semi-auto EA that ONLY help to create pending order when signal is generated and cancel order once 4 bar is over, that's all the EA will do. Once in trade, we have to manage it by ourselves.

We are following the signal given and we will always have our pending order in place once there is signal. I think this entry part could be automated since it is straight forward ?

What do u guys think ?
  • #476
  • Mar 5, 2009 11:47pm Mar 5, 2009 11:47pm
Quoting mer071898
Willowgal, In post #99 Rob updated the indicator to adjust for 5 digit brokers. Until then, change the "Confirm Pips" parameter to 100.
im using 5 digit broker, fxpro.
and i dont need to change any config.
confirmpip is 10

and i think it is working fine.
Or not ? someone pls help
Attached Image (click to enlarge)
Click to Enlarge Name: new.gif Size: 17 KB
  • #477
  • Mar 5, 2009 11:55pm Mar 5, 2009 11:55pm
Quoting forexisfx
I have an idea and i think it will help with trading this system more easily.

Have a semi-auto EA that ONLY help to create pending order when signal is generated and cancel order once 4 bar is over, that's all the EA will do. Once in trade, we have to manage it by ourselves.

We are following the signal given and we will always have our pending order in place once there is signal. I think this entry part could be automated since it is straight forward ?

What do u guys think ?
Going forward, if forexjedi manage to implement this system to trade multiple pairs in the future, this semi-auto entry EA can help us scan those charts for trades and we can fully concentrate on those filled pending order.
  • #478
  • Edited 12:18am Mar 6, 2009 12:15am | Edited 12:18am
[quote=Pip-Stud;2584013]FJ pls I dont know how to set up daily weekly monthly pivots, and I see its important, maybe your template will help me or is their any indicator for those?[/quo How do i upload indicators pls help thanks ....T
  • #479
  • Mar 6, 2009 12:16am Mar 6, 2009 12:16am
Hi all,

Forexisfx this is nothing personal and not a reflection of your post below as I respect your comments. Like ive mentioned before it will take some time to trade other pairs. They will need to be tested. If you trade other pairs right now that are not the EU your doing so at your own risk. Its like walking on thin ice. They have never been tested. Pretty much the same as just throwing random indicators on a chart nd giving it a go. As for an EA that places pending orders so the user doesnt have to then to have he user manage the trade. Im not sure about this. What will happen is users will leave the EA running and loose pips. Theres no easy way to trade FX. Even if there was an EA to manage a trade the user still needs to sit there and watch the price action to make sure their trade stays profitable. Moving forward I dont thin there should be any type of EA at all. Theres no easy way totrade FX. Its hard work. Many many long hours and it takes a lot of skill. The right trade may happen once a day sometimes twice. Its taken me 7 years to get to this point with so muc time invested along the way I dont remeber doing much else. I dream about fx at night thats how involved you need to become. I spend at least 12 hours a day in front of my PC waiting for the setups and thats how trading fx is. Again moving forward only the EU will be traded on this thread as I dont want to see people loosing pips. No EAs of any kind! Everyone who wants to be here and learn skill is welcome to learn. You experience first hand what it really take to become a full-time trader. From this post forward this is howit will be. No EAs, No outside pairs, no outside indicators ( otherwise this wouldnt be vforce it would be some system you just made up ) and no rudeness. I beg you all to follow these rules.

FJ


Quoting forexisfx
Going forward, if forexjedi manage to implement this system to trade multiple pair in the future, this semi-auto entry EA can help us scan those charts for trades and we can fully concentrate on those filled pending order.
Stacking pips since 2002
  • #480
  • Mar 6, 2009 12:22am Mar 6, 2009 12:22am
Quoting forexjedi
Hi all,

Forexisfx this is nothing personal and not a reflection of your post below as I respect your comments. Like ive mentioned before it will take some time to trade other pairs. They will need to be tested. If you trade other pairs right now that are not the EU your doing so at your own risk. Its like walking on thin ice. They have never been tested. Pretty much the same as just throwing random indicators on a chart nd giving it a go. As for an EA that places pending orders so the user doesnt have to then to have he user manage the trade....
Thanks. Just a suggestion. Before I wrote those I already expect 90% "NO EA". I'll continue to work hard on this and hopefully do well in forex.
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