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JohnFX's Price Magnets

  • #121
  • Jan 11, 2006 6:43pm Jan 11, 2006 6:43pm
Quoting JohnFX
I haven't tried my system on the crosses, but just for the heck of it, I pulled up charts for EURGBP. There is a magnet at .6854

It's 4:45 PM (EST) 1/11/06

EURGBP presently at .6870 - .6874

See what happens to it.

JohnFX
After further examining the EURGBP charts, it doesn't look like many signals get generated on this cross and probably most of the other illiquid crosses. So even thought this trade may eventually find it's mark, i'm still going to concentrate on just the USDJPY pair.

JohnFX
  • #122
  • Jan 11, 2006 6:53pm Jan 11, 2006 6:53pm
I have gotten several emails from people expressing interest in my "magnet" method. I think I have really found something unique, that works. But I would like to continue making the calls and see how it goes for a few more weeks. Some people will not agree with me or say I'm crazy, but the FOREX business is a crooked business. That's one of the reasons people lose money most of the time. The "powers" are greedy and if a method starts to cost them too much money, they will find a way to kill it. That's why, at this point I can't just release the details of this method on a public forum. I have to keep controll of it for now. I have no problem giving out the calls. But, also I want to see this system keep working for a few more weeks to be convinced it is as good as I think it is. Then I'll decide what to do. Now I know I'll probably get some criticism and that's fine, everyone is entitled to express their opinion. I also need to keep seeing if I can improve this method with regards to entry. My goal is to attain 95% trade success. Got to take it slow.

JohnFX
  • #123
  • Jan 11, 2006 7:20pm Jan 11, 2006 7:20pm
Quoting JohnFX

USDJPY 114.02 target hit @ 8:50 PM (EST) 1/11/06

There is now a target @114.30 (to the upside)

Thanks;
JohnFX
I forgot to mention there is also a Magnet at 114.19
That will help in pulling up price. But the main target remains 114.30

It's 10:19 PM (EST) 1/11/06

Thanks;
JohnFX
  • #124
  • Jan 11, 2006 7:21pm Jan 11, 2006 7:21pm
I'm somewhat new to FX.

The FX markets advertise on everybroker site that the markets trade say 1.5 trillion a day. If most are trading 100k lots, or even 50k lots, doesn't that knock the lots or entities traded down to 1.5MM-3MM a day. If so, why wouldn't trading a stock on an exchange that trades 10,000,000+ (for liquidity reasons) a day a make better scenario?? On the other hand, fills are quaranteed up to 20MM on some crosses, whereas someone has to want your stock at a specified price?
Also, from a short term technical standpoint, wouldn't this also skew indicators when the market is trading thin??

Anyone......
  • #125
  • Jan 11, 2006 7:24pm Jan 11, 2006 7:24pm
I don't blame you. Sure, I'd love to learn your method right here in this thread. But if it continues to be this accurate, I just don't think it would be a smart move to put it in the public domain. Not only could it be "killed" by too many people trying to use it, but you also may have others starting to sell or teach it and claim it was their own. That's certainly happened before...

John


Quoting JohnFX
I have gotten several emails from people expressing interest in my "magnet" method. I think I have really found something unique, that works. But I would like to continue making the calls and see how it goes for a few more weeks. Some people will not agree with me or say I'm crazy, but the FOREX business is a crooked business. That's one of the reasons people lose money most of the time. The "powers" are greedy and if a method starts to cost them too much money, they will find a way to kill it. That's why, at this point I can't just release the details of this method on a public forum. I have to keep controll of it for now. I have no problem giving out the calls. But, also I want to see this system keep working for a few more weeks to be convinced it is as good as I think it is. Then I'll decide what to do. Now I know I'll probably get some criticism and that's fine, everyone is entitled to express their opinion. I also need to keep seeing if I can improve this method with regards to entry. My goal is to attain 95% trade success. Got to take it slow.

JohnFX
  • #126
  • Jan 11, 2006 7:28pm Jan 11, 2006 7:28pm
Also, would anyone recommend a FX broker??
Know anything aboru Global FOREX tarding, based in Michigan??

Thanks
  • #127
  • Jan 11, 2006 7:35pm Jan 11, 2006 7:35pm
Quoting FXLogic
I don't blame you. Sure, I'd love to learn your method right here in this thread. But if it continues to be this accurate, I just don't think it would be a smart move to put it in the public domain. Not only could it be "killed" by too many people trying to use it, but you also may have others starting to sell or teach it and claim it was their own. That's certainly happened before...

John
Thanks John I appreciate your comment.

JohnFX
  • #128
  • Jan 11, 2006 7:40pm Jan 11, 2006 7:40pm
Quoting JohnFX
1/9/06 9:15 PM (EST)


My targets of 116.55, 116.71, 117.53, which I posted last week are still viable in the next 24-48 hours.

JohnFX
Folks, also, I haven't forgotten about the above mentioned price levels I posted a couple of days ago. I wouldn't be surprised if those levels are still hit in the days to come, but that is the type of signal I need to work on to somehow filter out in order to improve it. But if and when price comes to within 25 - 30 pips of those levels they would be in play.

JohnFX
  • #129
  • Jan 11, 2006 9:12pm Jan 11, 2006 9:12pm
Quoting JohnFX
I forgot to mention there is also a Magnet at 114.19
That will help in pulling up price. But the main target remains 114.30

It's 10:19 PM (EST) 1/11/06

Thanks;
JohnFX
BINGO! 114.19 hit at 12:10 AM (EST) 1/12/06

114.30 is next.

JohnFX
  • #130
  • Jan 11, 2006 9:27pm Jan 11, 2006 9:27pm
Quoting JohnFX
BINGO! 114.19 hit at 12:10 AM (EST) 1/12/06

114.30 is next.

JohnFX
By the way, when I give a target price,what I do after I enter the trade is set my T/P (Take Profit) 4 or 5 pips before the Magnet to make sure my trade gets closed.
Example: if I have a Magnet at 114.30 then my T/P is 114.27 or 26 depending on your broker's spread. You certainly don't want to miss the price and not get the profit, because I've notice that when one of my price magnets gets hit price will reject, especially if no more magnets are beyond the one just hit.
And yes, I am trading real money on these, but still only very small lot size.

Thanks;

JohnFX
  • #131
  • Jan 12, 2006 7:16am Jan 12, 2006 7:16am
Quoting JohnFX
After further examining the EURGBP charts, it doesn't look like many signals get generated on this cross and probably most of the other illiquid crosses. So even thought this trade may eventually find it's mark, i'm still going to concentrate on just the USDJPY pair.

JohnFX
Well the target was hit overnight .

JohnFX
  • #132
  • Jan 12, 2006 7:18am Jan 12, 2006 7:18am
Quoting JohnFX
By the way, when I give a target price,what I do after I enter the trade is set my T/P (Take Profit) 4 or 5 pips before the Magnet to make sure my trade gets closed.
Example: if I have a Magnet at 114.30 then my T/P is 114.27 or 26 depending on your broker's spread. You certainly don't want to miss the price and not get the profit, because I've notice that when one of my price magnets gets hit price will reject, especially if no more magnets are beyond the one just hit.
And yes, I am trading real money on these, but still only very small lot size.

Thanks;

JohnFX
114.30 was finally hit at 10:15 AM (EST) 1/12/06, but after a big drop to 113.45 first.

JohnFX
  • #133
  • Jan 12, 2006 7:19am Jan 12, 2006 7:19am
1/12/06 10:19 AM (EST)

USDJPY now has a price magnet at: 113.65


JohnFX
  • #134
  • Jan 12, 2006 10:41pm Jan 12, 2006 10:41pm
I have not posted latley, but have been watching with great intrest. JhonFX must be allowed to develep his system in his own time, It takes a brave man to say one has a has a system that is better than others, any new system needs testing in real time thats what JhonFX is doing. please give him space to work.

Quoting JohnFX
I have gotten several emails from people expressing interest in my "magnet" method. I think I have really found something unique, that works. But I would like to continue making the calls and see how it goes for a few more weeks. Some people will not agree with me or say I'm crazy, but the FOREX business is a crooked business. That's one of the reasons people lose money most of the time. The "powers" are greedy and if a method starts to cost them too much money, they will find a way to kill it. That's why, at this point I can't just release the details of this method on a public forum. I have to keep controll of it for now. I have no problem giving out the calls. But, also I want to see this system keep working for a few more weeks to be convinced it is as good as I think it is. Then I'll decide what to do. Now I know I'll probably get some criticism and that's fine, everyone is entitled to express their opinion. I also need to keep seeing if I can improve this method with regards to entry. My goal is to attain 95% trade success. Got to take it slow.

JohnFX
  • #135
  • Jan 12, 2006 10:47pm Jan 12, 2006 10:47pm
Quoting Roadster
I have not posted latley, but have been watching with great intrest. JhonFX must be allowed to develep his system in his own time, It takes a brave man to say one has a has a system that is better than others, any new system needs testing in real time thats what JhonFX is doing. please give him space to work.

I agree, but that doesn't mean we cannot say we're thrilled by his results and cannot wait to learn more...

I also understand the argument of too many people making use of this method possibly breaking it, but I still hope that he'll release the method one way or another... (John, if you need a written Non-Disclosure agreement, I'd love to oblige! )

But seriously, I admire hime for what he does, both in developing the system as in sharing on the forum!

Excelsior!
  • #136
  • Jan 17, 2006 7:41pm Jan 17, 2006 7:41pm
Hello Traders;

I've decided to post some targets for EURUSD again. These look pretty good.

1/17/06 10:40 PM (EST)

EURUSD presently 1.2099

Upside targets are 1.2114, 1.2126, then 1.2154

I see those getting there during London - Europe or early USA.

Thanks;

johnFX
  • #137
  • Jan 18, 2006 5:11am Jan 18, 2006 5:11am
Quoting JohnFX
Upside targets are 1.2114, 1.2126, then 1.2154

I see those getting there during London - Europe or early USA.
08:55 CET : 1.2114
09:05 CET : 1.2126
09:55 CET : 1.2151 (!)

I was conservative, set a (demo) entry order at 1.2100, limit @ 1.2110, made 10 pips...

If I would have been sitting at the terminal, I'd have taken out the limit order and continued on manual, probably exiting around (looking at the charts in hindsight) 1.2125... That'd have been 25 pips!

I'd love to be able to predict as accurate as you do! ;-)
  • #138
  • Jan 18, 2006 5:30am Jan 18, 2006 5:30am
good stuff john
another INTP
  • #139
  • Jan 18, 2006 5:36am Jan 18, 2006 5:36am
Quoting JohnFX
Hello Traders;

I've decided to post some targets for EURUSD again. These look pretty good.

1/17/06 10:40 PM (EST)

EURUSD presently 1.2099

Upside targets are 1.2114, 1.2126, then 1.2154

I see those getting there during London - Europe or early USA.

Thanks;

johnFX
Yeah, after that B/S move down to about 2080 it pretty much did as I expected it would.

Thanks;

JohnFX
  • #140
  • Jan 18, 2006 7:45am Jan 18, 2006 7:45am
All I can say is WOW.

When I saw your original post I thought that would surely be incorrect. All of my pet indicators were pointing to down! Let me reiterate:

Wow!

Now back to my little scalping trades................. sigh.

Ol' Don
Don Life is expensive, but includes a free trip around the sun.
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