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Attachments: Forex Bible System
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Forex Bible System

Forex Bible System...... God! what a terrible name

Nice system though. With a little "tune up" (should only take a couple of minutes fiddling) it could be an effective swing trading approach for say the EURUSD in the H1 time frame.

One of my personal criticisms though is the creators rehashing and renaming of the indicators to create a "black box" method. I prefer to understand the indicators and what they do - don't like to trade them blindly. A couple of them are kind of obvious as to what they are so I guess that's a start. Would be nice to see the original mq4 versions posted if anyone has them..
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
Quote
Three Years Live Trading Test
90%+ Accuracy Rate
I assure you this is a lie.

I have it on a chart and there are plenty of losers.
Quoting billbss
I assure you this is a lie.

I have it on a chart and there are plenty of losers.
Ain't that the truth. One of the frustrations of buying commercial systems. The authors don't seem to realize (or don't care) that they are actually doing themselves (and their customers) a diservice with these claims. I would rather see them present their systems, worts and all, than make these outrageous claims. This system is probably a good example in that regard. If a trader traded this within the understanding of the context of market structure (support/resistance, corrective and impulse waves) that would already go a long way to improving the odds, Im sure. Always pays to trade with the wind at your back no matter the mechanics of the system used and this one will be no exception.

Can this system be profitable? For some traders, certainly, for others ... ??? but there will be losses, you can bet on that!
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
You might want to check out fxTurboMarksman system (commercial system - Google search it). It seems a similar development with specific tweaks for individual pairs.

Regards,

Ron
Quoting billbss
I assure you this is a lie.

I have it on a chart and there are plenty of losers.
yes, with the attached rules there will be losses but like I said in the original post...The creator was not using the attached system rules/manual. He was using this system but in a different way. All I know is that I saw that statement of $700 to $60,000 in 23 days. I know what live statements look like and I actually checked his trades on my own chart in backtest and they checked out but not with using the attached system rules. I wish I knew how he was trading this thing...

The statement didn't look messed with. I believe this system can be powerful but I just don't know how to utilise it in that way yet. Keep testing...

Is it possible to achieve results like this or is this guy just talented doing his own thing....

It just does't make since to false market something. I wonder why he wouldnt give people the rules of how he was trading this in the package. Strange.
Quoting fxhermit
The authors don't seem to realize (or don't care) that they are actually doing themselves (and their customers) a diservice with these claims.
The "authors" have only one goal - to earn easy money from naive people during a short period of time. That is why they close their web pages so soon - they have to do it before buyers realize that they have bought crap.
Everything that is needed for successful trading is available free of charge in internet. So, potentially everything you buy is a scam.
Quoting Cubbybgood
yes, with the attached rules there will be losses but like I said in the original post...The creator was not using the attached system rules/manual. He was using this system but in a different way. All I know is that I saw that statement of $700 to $60,000 in 23 days. I know what live statements look like and I actually checked his trades on my own chart in backtest and they checked out but not with using the attached system rules. I wish I knew how he was trading this thing...

The statement didn't look messed with. I believe...
If he advertized 90% winners he should have told you how to achieve 90% winners, when you bought the system.

Any live statement can be faked. Live statements are generated by a computer. They can be generated by another computer to look exactly the same..
Quoting Cubbybgood
Is it possible to achieve results like this or is this guy just talented doing his own thing....
90 % hit rate is achievable in trading, otherwise people could not trade for living. But this guy does not care - he is selling systems not trading
Quoting billbss
If he advertized 90% winners he should have told you how to achieve 90% winners, when you bought the system.

Any live statement can be faked. Live statements are generated by a computer. They can be generated by another computer to look exactly the same..

Even if he had faked the statement and had false claims we still have a system here that could show good results. Lets act like this was not a comercial system because I think the idea of it being a comercial system is a turn off to some.

You guys may have something to gain from this now free system I just gave away. I payed $97 for it...
Quoting billbss
I assure you this is a lie.

I have it on a chart and there are plenty of losers.
I now start believing that this system is fraud. At least I can say for sure the main indicator on which this system is based (Golden Varitey) is available freely on MTCode base. You can check it out.
http://codebase.mql4.com/1047

And he is selling indicators those are freely available does indicate that the claims made by this seller are false.
It may be possible that this system can be profitable by using appropriate money management techniques but profits up to the extend advertised by this seller appears hard to achieve.
AshN
Quoting netFX
I now start believing that this system is fraud. At least I can say for sure the main indicator on which this system is based (Golden Varitey) is available freely on MTCode base. You can check it out.
http://codebase.mql4.com/1047

And he is selling indicators those are freely available does indicate that the claims made by this seller are false.
It may be possible that this system can be profitable by using appropriate money management techniques but profits up to the extend advertised by this seller appears hard to achieve.

Agreed.

I do not agree with someone selling free indicators but honestly that's what almost all those guys selling forex software do....

Almost nothing out there is original. Most of our custom indicators are created by people in forums like this.

We still can not say this system is a fraud just yet. Since I re found it I've only been checking it out for the past 2 days and it's hard to tell how it will truly trade till after the Holidays.
Cubby,

Your trading strategy calls for the use of a trailing stop. Some platforms won't activate a trailing stop until the trade goes into profit equal to the amount of the trailing stop.

However, on Oanda, I can set a trailing stop the moment the trade is made and as soon as the trade moves into profit, the trailing stop moves immediately forward with it

Question: Should we initiate a trail stop at the inception of the trade or wait until until the trail stop amount of profit has been reached before activating the TS?

Good trading,
BC2
Guys & gals, let me give you a bit of advice. Stop looking for someone to create the magical trading method/system. Create your own, one that you understand, tweak it as needed. It may take 2 weeks or 3 or 4 months to create a trading method that you like and is profitable, but do it.

Believe me, these shysters that sell systems make a helluva lot more money selling to guys & gals like "you" than they do trading. In fact, I'd bet that most lost money trading and no longer trade! These shysters have found a niche and are exploiting and PROFITING from it!
Quoting GulfCoastPip
Guys & gals, let me give you a bit of advice. Stop looking for someone to create the magical trading method/system. Create your own, one that you understand, tweak it as needed. It may take 2 weeks or 3 or 4 months to create a trading method that you like and is profitable, but do it.

Believe me, these shysters that sell systems make a helluva lot more money selling to guys & gals like "you" than they do trading. In fact, I'd bet that most lost money trading and no longer trade! These shysters have found a niche and are exploiting and PROFITING...

I kinda thought that was the whole point in introducing this concept in the first place. It's a starting point but definitely not a finished product.
Ok... not real excited about the exit strategy with this system because it gives back too much positive movement. I'm looking at the non-lag MA as an alternative exit point. I tried a 9-period noon-lag MA and while extremely accurate, it's way too tight. I'm currently looking at a 15-period non-lag MA. Any feedback would be greatly appreciated.
Attached File(s)
File Type: mq4 NonLagMA_v5.mq4   5 KB | 919 downloads
Quoting prof8t
I kinda thought that was the whole point in introducing this concept in the first place. It's a starting point but definitely not a finished product.
I'd recommend starting with a clean slate.
O.K. the fact that this was once a $97 system is at this time a mute point. I do agree with Gulfcoastpip's comment about creating your own trading system that suits you. Part of the reason why traders can't just pick up a system and trade it exactly like all the other traders who trade the same system is partly due to, as Bill Wiliam's has said, "we all, trade our own belief systems". So, build a system that suits your belief system. Now, if The Forex Bible System comes close, then you've got a good starting point (everyone starts some where) and I think that is what Cubby is attempting to do. Let's support that and see where it goes.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
Quoting fxhermit
O.K. the fact that this was once a $97 system is at this time a mute point. I do agree with Gulfcoastpip's comment about creating your own trading system that suits you. Part of the reason why traders can't just pick up a system and trade it exactly like all the other traders who trade the same system is partly due to, as Bill Wiliam's has said, "we all, trade our own belief systems". So, build a system that suits your belief system. Now, if The Forex Bible System comes close, then you've got a good starting point (everyone starts some where)...
I total agree with this. It's hard to start on clean slate if you don't know your indicators or have some decent forex knowledge. It took me 2 years to get to a point of creating my own system from scratch. It's always nice to have a decent foundation and that's what I'm trying to do with this system. People can trade this system anyway the like. It's up to them to figure out what works best for them. I posted this system because I thought it could be a good foundation for many.
This is strictly off the top of my head, but, If I were to take ownership of this trading system I would first of all use it as a swing trading system in the H1 for the EURUSD simply because that's already how I trade and where I trade. Any experience, no matter how extensive or how little should contribute to your comfort zone. You are wanting to make the market a friendly place to be, not a constantly hostile place.

Next, I would want an additional "directional" line in the sand. Nothing fancy, a basic moving average will do. Some like the 200, some like the 100, some like the 50. The quicker the line, the more nimble the trader. For the H1 I prefer something between the 50 and 100, suit yourself. The idea is that you now take those trade signals that the system provides that are in agreement with which ever side of the line price is - above = buy, bellow = sell. That should, for the most part put the wind at your back to catch those impulse waves or know that you are trading a corrective wave and can manage risk in accordance.

My own personal preference would be to speed the indicators up a bit (at the risk of a few extra false signals maybe). This is where it would be nice to see the MQ4 versions of the indicators so that one could peek at the code. However, I can work around that. On Goldenfinger I reduced the risk to 2, that wakes it up a little sooner. Golden tendency string (looks like a nice coloured Ma of some sort) gets some extra pep too by speeding it up from 34 to 21. Forget the MACD, personally I don't need it. Last, I have cleaned up the Golden Varitey a bit. Chart example and template attached. It's pretty easy to see that the trend friendly signals would have made good money, at least under these market conditions.

Anyway, like I said, this is just off the top of my head but is how I would begin making a system of "my own" out of an already existing system. I recommend each trader do the same.
Attached Image (click to enlarge)
Click to Enlarge Name: chrt 2.gif Size: 16 KB
Attached File(s)
File Type: tpl forex bible manual trading system mine.tpl   3 KB | 2,139 downloads
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
hmmm...! just because the author claims to have made money doesn't mean a thing. it doesn't mean the system works. the author himself stated that he did not follow the system rules.

the only way to find out is to backtest and live test for a few weeks.
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