Best trading systems on forexfactory | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Top 100 best Trading Systems: post good Trading Systems here 62 replies

Which system is the best? Or which combinations of systems work the best? 46 replies

Are the best systems also the systems that fail most spectacularly? 55 replies

Recommend the reliable trading systems you tried from forexfactory 9 replies

Systems, Systems and Systems... 1 reply

Attachments: Best trading systems on forexfactory
Exit Attachments

Best trading systems on forexfactory

  • #1
  • First Post: Nov 10, 2010 7:12pm Nov 10, 2010 7:12pm
HI GUYS

i have been browsing through ff for a few months now. there are way too many trading systems here on ff and most of them dont make any pips in the long run. i have tested a lot of them.

so to cut out the nonsense and help everyone to seek out the best trading systems , i have started this thread.

it would save a lot of time for people, especially newbies , if we could list the trading systems that we have used and that have proven to be good pipmakers in the long run. i.,e. the trading systems that actually DO work and have been tried and tested for a good length of time. so please list your trading systems below. it would save a lot of people a lot of time and stop them from wasting days and days trying to find a good system and then testing it for a few months (only to realise it doesn't work in the long run !).

so guys , lets do this for the benefit of all of us.
  • #2
  • Nov 10, 2010 7:47pm Nov 10, 2010 7:47pm
Range trading isn't my thing, and when we stuck in a range of days on end, I use this: http://www.forexfactory.com/showthread.php?t=252157

Easy to follow, easy to trade.....good risk:reward ratio.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #3
  • Nov 11, 2010 1:18am Nov 11, 2010 1:18am
Nice idea you have here..to help traders or new comers to FF in identifying a good system right?

Well, b4 i suggest a ''good system'', i'll like to draw your attention to this fact...Forex trading has a lot to do with your personality and when you dont put this into consideration, you'll keep jumping from one sysem to another..even if George Soro's were to practically take you thru how he trades, it still wont do you good..

I'm not trying to be a B.S. here, but i think we need to understand this fact..i can forsee a situation here [better not to say it anyway]...

What works well for me might be a total disaster for someone else...sucess in forex trading is not all about having a good strategy alone, but other things are involved which cannot be divulged from whatever system you choose to use for you to be sucessful....
DISCIPLINE, PATIENCE, SOUND MONEY-MANAGEMENT, These 3 are enough to wreck you if you dont have them or employ them properly in your trading career..[regardless of how sound your technique or system is] and lack of them will only keep you blowing your account and hopping from one system to another....

I'm mainly a Price Action trader and i visit threads on PA..PA has many approaches to it, so u find several threads on PA all with different approaches but basically following the same fundamental principle of pure price action.....Support and Resistance[Trendline/horizontal lines], Breakouts, Patterns, Wave orientation, etc.

So i'll advocate you find a thread on Price Action [so many of them here], study and practise it very well on a demo account till you can be consistently profitable for at least 3 months, develop discipline on it, use a sound money management..only then will you start being a successful trader..

Just my 1cent contribution
God's Love For You Is Sure Never You Doubt It
  • #4
  • Nov 11, 2010 7:33am Nov 11, 2010 7:33am
Quoting D liberators
Nice idea you have here..to help traders or new comers to FF in identifying a good system right?

Well, b4 i suggest a ''good system'', i'll like to draw your attention to this fact...Forex trading has a lot to do with your personality and when you dont put this into consideration, you'll keep jumping from one sysem to another..even if George Soro's were to practically take you thru how he trades, it still wont do you good..

I'm not trying to be a B.S. here, but i think we need to understand this fact..i can forsee a situation here [better...
hi

i totally agree with what you have said. success and failure depends on ones personality and thier attitude towards trading. there is no question about that.

but at least if we can find out the best trading systems that work for the majority of us then that would be a good start. one can then adapt and try out the systems according to thier personality and see if they can make it work for them.

so lets pick our brains and establish the profitable trading systems first. that would be invaluable to a lot of people here on ff.


regards
  • #5
  • Edited 8:29am Nov 11, 2010 8:13am | Edited 8:29am
http://www.forexfactory.com/showthread.php?t=246113
Nanningbob 4 HR trading system ver 5.0

http://www.forexfactory.com/showthread.php?t=236210
The Dance or revised "Choros" methods

http://www.forexfactory.com/showthread.php?t=4365
Vegas Methods (1 HR, 4 HR, etc...)

http://www.forexfactory.com/showthread.php?t=86766
DIBS Method

http://www.forexfactory.com/showthread.php?t=127271
THV system, ver 4.0

All very different, all profitable.

"I always say that you could publish my trading rules in the newspaper and no one would follow them. The key is consistency and discipline. Almost anyone can make up a list of rules that are 80% as good as what we taught our people. What they couldn't do is give them the confidence to stick to those rules even when things are going bad." - Richard Dennis

"A cool, disciplined trader will take an average system and make money with it. A nervous, arbitrary trader will take a brilliant system and wreck it." - Razor Trader's signature

...it seems much more fun to scour Forex Factory for systems, indicators, or the latest Heiken-Ashi charts on the 15 min TF with Slow Stochastics and 6 Moving Averages... but I guarantee you will save or make more money just by fixing your mistakes in relation to basic trading principles.

Good Luck!
  • #6
  • Nov 12, 2010 5:33am Nov 12, 2010 5:33am
Quoting Intu
http://www.forexfactory.com/showthread.php?t=246113
Nanningbob 4 HR trading system ver 5.0

http://www.forexfactory.com/showthread.php?t=236210
The Dance or revised "Choros" methods

http://www.forexfactory.com/showthread.php?t=4365
Vegas Methods (1 HR, 4 HR, etc...)

http://www.forexfactory.com/showthread.php?t=86766
DIBS Method

http://www.forexfactory.com/showthread.php?t=127271
THV system, ver 4.0

All very different, all profitable.

"I always say that you could...

thanks intu for your input.

the quotes at the end are very relevant !!
  • #7
  • Nov 12, 2010 5:46am Nov 12, 2010 5:46am
The only system from that list which works from time to time is DIBS. All the other require charts on drugs and so many discretionary decisions that nobody can test them.
  • #8
  • Nov 12, 2010 6:58am Nov 12, 2010 6:58am
Quoting Sauron
The only system from that list which works from time to time is DIBS. All the other require charts on drugs and so many discretionary decisions that nobody can test them.
And two of them, Dance & Vegas, were the spawn from dubious characters worthy of the Recycle bin.
  • #9
  • Nov 12, 2010 7:48am Nov 12, 2010 7:48am
The system doesn't make the trader, the trader makes the system. I imagine very few 'followers' here are profitable, particularly over a reasonable stretch of time.
  • #10
  • Nov 13, 2010 9:00am Nov 13, 2010 9:00am
Quoting Slack
And two of them, Dance & Vegas, were the spawn from dubious characters worthy of the Recycle bin.
hmmmm......but these 'dubious' characters seem to have made quite a lot of money for themselves ?
  • #11
  • Edited 10:19am Nov 13, 2010 10:03am | Edited 10:19am
In defense of the Vegas methods...
I did study them myself, but I'm not suited to longer term trend following nor did I like his "fibonacci" based profit target ideas.

I don't know the controversy around Vegas...though I am familiar with eclayf's (as I have read all of his posts, along with the CHOROS thread, and much of Endroute's and EOHater's writings as well).

Along with my own studies...we have this quote from Joel Rensink:
Quoting TheRealThing
For, example, I know that the Vegas material (I have no personal connection with him whatsoever) dealing with the one hour tunnel has a firm statistical edge. A rock-solid statistical edge.
from a great post here-
http://www.forexfactory.com/showpost...9&postcount=32

In defense of "The Dance" or CHOROS methods...
I'll start with a belief. I believe EOHater and Endroute are profitable traders. If you disagree (you are entitled...) then you won't agree with anything following. "The Dance" methods were derived from mentoring and instruction that Endroute had given eclayf, based upon some ways that Endroute trades. These are also very similar to some basic components of EOHater's trading. Having traded the methods myself, after studying the material presented, it is a basic framework which is profitable.

Many great works have come from "dubious" characters throughout history. Artists, Composers, Authors, Chess players...
  • #12
  • Nov 13, 2010 10:38am Nov 13, 2010 10:38am
If those traders made money is an open question and we don't know. The problem is, you can only declare a system profitable if you have clear rules for entry and exit and you can backtest it over more than 1000 trades.
Beside DIBS, whose entry is clear, all other are a conglomerate of indicators, small time frames and discretionary entries. There's nothing to learn from them, as even the trader who usually proposes them has no idea why he uses an indicator. 99.99% from all the systems there are exercises in futility and randomness.
  • #13
  • Nov 13, 2010 10:44am Nov 13, 2010 10:44am
Statements like "it all depends on the trader" and all the usual psychology, etc., is fine, but it shouldn't really be part of the discussion of the quality of systems/methods posted on this forum.

By definition, a profitable system/method should have an objective statistical edge by itself (even if it's only 51 to 49) -- the psychology and the trader's personality is only relevant after one has found multiple systems/methods that fit this criteria.

If your choices are between a bunch of convoluted "systems" that have no provable edge, then all these statements serve to accomplish is reinforce the psychological comfort of those who would like to blindly follow them on "faith".

If you've been trading one of these mechanical systems (in the case of the ones that are actually supposed to be that mechanical) for more than a year and have yet to show a profit of more than a savings account, then it doesn't matter what your personality or psychology is like -- you're just fooling yourself.

As for the less objectively mechanical systems/methods -- they're just subjective frameworks for trading, so it's probably possible for a good trader to add an edge to them (positive expectancy) through experience and psychology but whether that is the method itself or the trader is more debatable then since such a system would be too subjective to judge by itself.

Here's the ultimate trading method for beginners: Once you've discovered or created a method that fits the latter criteria (one that can't be proven or disproven 100% objectively by itself), then start posting about it and writing web sites for it. If you get enough believers, even if these believers can never beat the performance of a Japanese treasury, everyone will be willing to pay you to "mentor" them. There -- now you've now taken money from other market participants without even having to go through a broker or even the real interbank market.

I don't mean to shoot down all the efforts around here -- I have utmost respect for everyone who puts legitimate effort and time into discovering a real, profitable system with a true edge whether they find one or not.

I'm just tired of the "it's not the system, it's you" cop out for every subjective method with a supposed edge that can't be objectively proven or unproven. If it can't be proven/disproven statistically, then it's just a framework, not a real edge, and you might do just as well by simply staring at the market for the entire London session every night (or morning, if you live in Europe) and just observing the price action until you get a feel for its patterns and timing. If the edge depends entirely on the trader's own experience and psychology, this method would likely work better than most of the "systems" anywhere.
  • #14
  • Nov 14, 2010 6:07am Nov 14, 2010 6:07am
does anyone know of any good rollover / carry trade trading systems ? where you make profit from interest paid.

i understand one can make good profits from such trading especially if you trade on multiple accounts ?

regards
  • #15
  • Nov 14, 2010 7:39am Nov 14, 2010 7:39am
Quoting whatfx
HI GUYS

i have been browsing through ff for a few months now. there are way too many trading systems here on ff and most of them dont make any pips in the long run. i have tested a lot of them.


.
I have heard that a good trader can make most systems profitable, and a poor trader can make the best systems unprofitable

Check out this guys profile

http://www.forexfactory.com/ronald*raygun

Specifically this
====================================
1) Toss a coin: Heads long, Tails short
2) Manage the trade as you see fit. If you think the trade is bad, exit.
3) When you exit a trade, go back to step 1.
If you can double your account in less than 50 flips, I consider you a good enough trader to go live.
======================================

So.....seeking the BEST system is perhaps not the way......seeking to learn how to make a system profitable is the way.

Good luck on your quest

PGPB
  • #16
  • Nov 15, 2010 5:43am Nov 15, 2010 5:43am
Quoting pgpb
I have heard that a good trader can make most systems profitable, and a poor trader can make the best systems unprofitable

Check out this guys profile

http://www.forexfactory.com/ronald*raygun

Specifically this
====================================
1) Toss a coin: Heads long, Tails short
2) Manage the trade as you see fit. If you think the trade is bad, exit.
3) When you exit a trade, go back to step 1.
If you can double your account in less than 50 flips, I consider you a good enough trader to go live....

hi pgpb

havent heard from you for a long time. good to see you are on my thread !

i agree with your statement although i believe having a good trading system that works is a head start. the rest is upto the individuals psych.

btw i figured out the 2 lines signals eventually ! i realised that zaman took the 9pm closing price and just added + 30 and -30 either way (give or take a couple of pips) and thats how the 2 upper and lower line signals were formed ! after i figured it out, i think a lot of the others on that thread realised the idea and it then kind of like lost integrity.

anyhow it turned out that the 2 lines was not such a big deal after all. not that big secret everyone thought it was. but i credit zaman for havng teaching everyone various other systems.


regards
  • #17
  • Nov 15, 2010 5:12pm Nov 15, 2010 5:12pm
Quoting whatfx
hi pgpb

havent heard from you for a long time. good to see you are on my thread !

i agree with your statement although i believe having a good trading system that works is a head start. the rest is upto the individuals psych.

btw i figured out the 2 lines signals eventually ! i realised that zaman took the 9pm closing price and just added + 30 and -30 either way (give or take a couple of pips) and thats how the 2 upper and lower line signals were formed ! after i figured it out, i think a lot of the others on that thread realised the idea...
Yeah....that "two line" system....I could never live long term with a system where some guy is giving me the signals

So how are you doing with choosing a system?

I would prefer a very simple system that was 60% accurate versus a very complex system that was 70% accurate.

I prefer a system that will allow me a few trades a day versus a system that will provide one trade every 3 days....(my personal taste)

So to some extent you gotta know what you want.

...because I have a full time job I can not really afford to keep my eye on multiple currencies.....so in my "system" I tend to just trade one pair.

Of course we have the problem of this being an open forum and we never know who is telling the truth and who is not. Over the time I have spent on forex factory I have grown to trust the opinion of some over others

I am just thinking out loud but I think people who have a good system will be unlikely to share it.....not because they are mean, or selfish but simply because they do not want to have to defend to the whiners who will try to cut it apart.

The system I use is basically MTF break out trading.
I directed you once to a thread about MTF Trix trading....that is where I learned the most.

Anyways....just some random thoughts

Good luck with your thread

PGPB
  • #18
  • Nov 16, 2010 3:59am Nov 16, 2010 3:59am
i shall be giving my 2 cents, being that iam the thread starter.

so here goes my random synaptic firings.

i believe the threads / tradings systems started by 'philip nel' and 'jacko' are quite sound. so these are worth taking a look at.

more to come.....
  • #19
  • Nov 16, 2010 7:45am Nov 16, 2010 7:45am
Quoting whatfx
i shall be giving my 2 cents, being that iam the thread starter.

so here goes my random synaptic firings.

i believe the threads / tradings systems started by 'philip nel' and 'jacko' are quite sound. so these are worth taking a look at.

more to come.....
Which of the Philip Nel systems do you like?

Jacko's systems may be sound, very much long term.....***BUT***.....read the last few weeks of posts on his thread....the guy was a total scammer who ran off with a bunch of peoples money........so system may (or may not) have been sound but it looks like the guy was a scoundral

I like this
http://www.forexfactory.com/showthread.php?t=108544

this
http://www.forexfactory.com/showthread.php?t=201414

and this
http://www.forexfactory.com/showthread.php?t=229238

PGPB
  • #20
  • Nov 16, 2010 8:00pm Nov 16, 2010 8:00pm
Good thread.

I was thinking about starting a thread like this myself, so many systems on here, but do any of them actually work? Or are they all subjective frameworks with a bunch of blind supporters?

To me a system is not subjective, it has a set of mechanical rules, and can be backtested into oblivion. The only problem is systems that worked in the past don't necessarily work in todays environment, the market is ever changing and has become so efficient.

I laugh at the "systems" on here that have 10 people looking at the same chart and they all come up with 10 different entries, that's not a system, that's a framework, can you be profitable? Of course, but these frameworks require a higher level of psychology and money management then a system.

Would be great if you could update the first post with a list of the systems with a simple summary.

i.e.
System X - requires too much subjective analysis
System Y - back tested 2008, 2009 and came up with x profit/loss.

Unfortunately analysing people's systems I'm sure this thread can become a flame war when some peoples systems are debunked.


And just a comment on

Quoting pgpb
I would prefer a very simple system that was 60% accurate versus a very complex system that was 70% accurate.
How about a system that was 30% accurate but provided a 100% profit year on year? If that was a system that has been back tested for the last 10 years and provided a minimum of 100% profit for each calendar year, would you feel confident and willing to trade that system?

This is why I feel finding a good system, is better than having a framework. It's much easier on the psych, and it seems trading really is a mental game.

Some good analysis and comments so far, I'm hoping this thread will continue to grow.

Cheers
furble
0 traders viewing now