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Successful Forex Factory Systems

  • #1
  • First Post: May 5, 2009 9:50am May 5, 2009 9:50am
There might be a similar thread to this one so dont be upset .

I wanted to collect the best forex factory systems in one thread.

I often read that the majority of ff systems failed (no wonder, 95 % of the forex factory members fail).

Personally i havent found one either . I use a trendline break system but this one was created by my own.

But i know that there are some good ones because not all of the people lose money.

If anybody had very good success in trading with a ff systems then please post it here and if possible with some results.
  • #2
  • May 5, 2009 10:00am May 5, 2009 10:00am
where from in Germany?

regards
daytrading
Enter Signature
  • #3
  • May 5, 2009 10:09am May 5, 2009 10:09am
Quoting daytrading
where from in Germany?

regards
daytrading
potsdam, near berlin.

why?

i was hoping the first reply would be a bit different.
  • #4
  • May 5, 2009 10:15am May 5, 2009 10:15am
I used to work in Frankfurt/Main for some time in the late 80's to early 90's.

sorry, but I don't rate any of the systems on the forum (except one) - doesn't mean that they are bad...I simply have no interest in them.

take a look at 'Spieler's Hedge - derived from Futures'....that one does work. (no fancy indicators though - if that is what you are looking for)

regards
daytrading

p.s. good luck
Enter Signature
  • #5
  • May 5, 2009 10:29am May 5, 2009 10:29am
Quoting daytrading
I used to work in Frankfurt/Main for some time in the late 80's to early 90's.

sorry, but I don't rate any of the systems on the forum (except one) - doesn't mean that they are bad...I simply have no interest in them.

take a look at 'Spieler's Hedge - derived from Futures'....that one does work. (no fancy indicators though - if that is what you are looking for)

regards
daytrading

p.s. good luck
im doing this for two reasons. the first one is that i am just curious because even the 5 stars rated systems dont really show outstanding performances.

the second one is to help newbies to find the good systems very quickly.
  • #6
  • May 5, 2009 1:45pm May 5, 2009 1:45pm
james16
cobraforex THV
jacko's

pretty sure there are some more out there
  • #7
  • May 5, 2009 2:24pm May 5, 2009 2:24pm
daytrading/supreme,

have you people been trading these systems for a while and could you give some numbers?

if not, I would like to see only proven systems here with backup figures as OP clearly stated in his first post.
  • #8
  • May 5, 2009 3:48pm May 5, 2009 3:48pm
Systems are nice, but without a solid foundation under your feet, all systems will fail for you. For example, a qualified pilot can takeoff and land a 747, but a Cessna pilot cannot, and I can do neither.

I see you've been around for a while, so you likely have seen these - but for everyone - the following stuff dead-on-works. And you can be successful with it. And except for one (THV) everyone needs to understand the content in them.

So foundationally, you need to understand:

1. The market structure - how it all works LINK

2. Price Action: James16; Silent Service Method; No Brainer Trades and for an indicator system on short time frames: THV System (very short time frames - beware) Understand PASR or die. No ifs, ands or buts...

3. Money Management - Tharp's Financial Freedom (This is so important you can make money with a crappy system)

4. Psychology - the ultimate requirement. Again Tharp - including his pricey, but very effective home study Peak Performance course (Five Stars) and Mark Douglas Trading in the Zone. (Tharp will get you to where Douglas talks about)

No doubt you'll find all manner of other stuff out there - some of it good, most of it not. Ask the top flight traders here what they think. These are just the things that stand out in my mind. There are other great resources. But these will get you profitable and pointed at the target.

A personal note on Systems - Like Diets, Systems do not work. What does work is YOU. Or not. The System is just a tool, you are the key. Take the THV system above. In the correct hands, it is great. In mine, it will be a disaster. It is not how I like to approach the markets, but it works for others.

Hope this helps - if not, move on to the next post.
I'm pretty much done with all this ...
  • #9
  • May 5, 2009 3:53pm May 5, 2009 3:53pm
Hi, Wallboroff.

I like the idea of this thread, not because I wish to gather more systems, but because I think it's a good idea what you're trying to do.

I think the word "system" should be modified. There are methods to trading and there are systems to trading. Both are very different.

For those who have been longtime readers and/or members of Forex Factory, we know James16's Chart Thread. This one thread alone has enormous amounts of volume. This thread is a method, not necessarily a system.

Because it is a method, the trader is under his/her own abilities to use the method in becoming a better trader. Not all traders who use the method will become profitable, not because the method doesn't work but because (as we all know) all traders are not the same. We have different emotions, ideas, feelings, et cetera.

A system, however, if automatic is fairly consistent in that if trader A uses the system, then trader B could use it and (more than likely) achieve the exact results as trader A.

So . . . speaking to yonnie . . . you can judge a system by performance data, but I think it would be safe to say that you cannot judge a method by performance data for the reasons stated above.

I do not have any "systems" that I would recommend, but I do have methods I would recommend:

James16
Jacko
Strat
  • #10
  • May 5, 2009 4:55pm May 5, 2009 4:55pm
hans,

with performance you at least know that the method/system is basicly profitable and then its up to the trader to make it work for him/her.

I just didn`t want a lot of people coming here making comments about something that appeals to them, but never actually traded it for at least 6 months to a year,
so that they can have an informed opinion about a system/method
  • #11
  • May 5, 2009 6:06pm May 5, 2009 6:06pm
Quoting Wallboroff
There might be a similar thread to this one so dont be upset .

I wanted to collect the best forex factory systems in one thread.

I often read that the majority of ff systems failed (no wonder, 95 % of the forex factory members fail).

Personally i havent found one either . I use a trendline break system but this one was created by my own.

But i know that there are some good ones because not all of the people lose money.

If anybody had very good success in trading with a ff systems then please post it here and if possible with some results....
There are thousands of good trading systems that work! My system may not work for you and vise versa. The trading system is the least important tool. A trader with sound money management and internal control can trade with just a line or no indicators at all. The simplest usually work the best. There are some great books on self development for trading. Stop searching for the holy grail trading system as the holy grail in trading is yourself.
  • #12
  • May 5, 2009 6:14pm May 5, 2009 6:14pm
Good idea for a thread but, it's already so muddled-up with ambiguity...

Quoting Wallboroff
If anybody had very good success in trading with a ff systems then please post it here and if possible with some results.
No verifiable results posted yet...as to be expected.
  • #13
  • May 5, 2009 6:18pm May 5, 2009 6:18pm
Quoting FXSurfer
Good idea for a thread but, it's already so muddled-up with ambiguity...



No verifiable results posted yet...as to be expected.
Ignorance is bliss, I could do with a little bliss to be honest, getting realy wound up, lol.
Living the adventure in my head.
  • #14
  • May 5, 2009 8:09pm May 5, 2009 8:09pm
Quoting supremeChaos
james16
cobraforex THV
jacko's

pretty sure there are some more out there

james16
cobraforex THV
jacko's
Sonic R
  • #15
  • Edited 11:22pm May 5, 2009 10:25pm | Edited 11:22pm
sonicdeejay,
u beat me to it!.... I agree.

I was about to add these:
Sonic R
DIBS
AshFX
Auslanco & karmostaji's
Murrey Math
VSA
Gann
Elliott wave
  • #16
  • May 5, 2009 10:48pm May 5, 2009 10:48pm
Quote
If anybody had very good success in trading with a ff systems then please post it here and if possible with some results.
Quote
proven systems here with backup figures as OP clearly stated in his first post....
yonnie,
I highlighted what was said/requested. This means that it was optional to post results.
I responded to Wallboroff's question/request in good faith. Meaning, i only have good intentions when i made my earlier post/s. Now, it is up to the readers to make an effort to check everything posted here in response to the thread. traders/beginners can start by checking the integrity of the respondents (in this thread), the longevity & volume of the thread, & the integrity of the threads/systems & their respective thread creator.

one reason i can't post results is that i have never used a system/method exclusively. I, like many, try to adapt, append, improve on, tweak a system/method as it suits my personality & risk profile.

We all must know & accept the fact that systems/methods found in ForexFactory & other forums are hard to verify/quantify in terms of results. 2 or more traders trading a similar system/method will almost always have different results, as there are many factors/facets to trading. in other words, a system/method's results may objectively be good/great/positive but will yield subjectively different (positive or even negative) results when used by several individuals.



Quote
A personal note on Systems - Like Diets, Systems do not work. What does work is YOU. Or not. The System is just a tool, you are the key. Take the THV system above. In the correct hands, it is great. In mine, it will be a disaster. It is not how I like to approach the markets, but it works for others.
Quote
...Because it is a method, the trader is under his/her own abilities to use the method in becoming a better trader. Not all traders who use the method will become profitable, not because the method doesn't work but because (as we all know) all traders are not the same. We have different emotions, ideas, feelings, et cetera.
...A system, however, if automatic is fairly consistent in that if trader A uses the system, then trader B could use it and (more than likely) achieve the exact results as trader A.
...you can judge a system by...
Quote
There are thousands of good trading systems that work! My system may not work for you and vise versa. The trading system is the least important tool. A trader with sound money management and internal control can trade with just a line or no indicators at all. The simplest usually work the best. There are some great books on self development for trading. Stop searching for the holy grail trading system as the holy grail in trading is yourself.
StoragePro ,hans356 & renegade made back to back great posts above, we all must heed & read them.
They were very open-minded & appreciative of the fact that a system/method may/may not appeal/jive with/benefit 1 or more traders. every trader is unique, therefore, every result will be unique.

Good luck all
  • #17
  • May 6, 2009 3:04am May 6, 2009 3:04am
Quoting yonnie
daytrading/supreme,

have you people been trading these systems for a while and could you give some numbers?

if not, I would like to see only proven systems here with backup figures as OP clearly stated in his first post.
Yonnie,

If you read through the 'spieler' thread (I know, it has become rather long), you'll find some of my personal live-results. I have been trading for a very long time professionally my own method(s), hence the personal choice not to use his system. I make the statement that it works though on the premise that I have traded 'spread-trading' models for many years in other products (derivatives) and know for sure that they make money.

Hope this helps,

regards
daytrading
Enter Signature
  • #18
  • May 6, 2009 3:54am May 6, 2009 3:54am
WOH!! This thread is getting started. I like it and many thanks to those that already posted some systems/methods.

I know i should have named the title slightly different. My fault.

I know that i said that it is possible to post results here but i think it would be really great to name the method/system and show the results.

I could also say: "man, the james16 thread is great" which it really is "but i have no real results proving that it really works."

Ok, dont kill me now because i just said that. Everybody trades differently even with the same method, i know that.

There are sometimes 12.000 members online, i dont believe that they just read the threads.

My approach is to gather all the methods/systems that show really good results.
  • #19
  • May 6, 2009 3:56am May 6, 2009 3:56am
Quoting StoragePro
Systems are nice, but without a solid foundation under your feet, all systems will fail for you. For example, a qualified pilot can takeoff and land a 747, but a Cessna pilot cannot, and I can do neither.

I see you've been around for a while, so you likely have seen these - but for everyone - the following stuff dead-on-works. And you can be successful with it. And except for one (THV) everyone needs to understand the content in them.

So foundationally, you need to understand:

1. The market structure - how it all works LINK

2....
This is a great post.
  • #20
  • May 6, 2009 4:12am May 6, 2009 4:12am
I have been a member of the james 16 group for a year now and have this to say.

It is not all about the system you trade
I could give 10 traders the same rules and after 3 months the results would be different.

James 16 is a great place to gain more awareness as a trader and has a lot of information that gives the trader an edge over this sometimes tough game.

Jims approach to the charts is fantastic and he is a great support in helping people reach their goals.
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