Forex Bible System | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Forex Trading: Incorporating Price Behavior into a Forex Trading System 4 replies

Forex Deconstruction System (A Mr. Mark So inspired system) 13 replies

Traders Bible > ArtVor 2 replies

Would you trade this system? New system #2. 10 replies

Attachments: Forex Bible System
Exit Attachments

Forex Bible System

  • #181
  • Jan 9, 2011 2:43pm Jan 9, 2011 2:43pm
Sure. Here it is. I know the problem of people posting charts with different indicators, so I'm not trying to convert anyone here. Everyone has their own preferences, and your system is easy and has worked for me well for the past week. That big yellow line is my dividing line, and I don't want to trade against it. That means I may miss some trades and/or get in late, but if you look at the chart, you are more likely to have a winning trade by taking ony shorts when under the yellow line, and longs when above it.

With the golden finger indicator alerting me, I can have this same chart on several or more pairs and have more than enough trade opportunities each day. When that signal bars indicator is mostly all red like you see, anyone would be nuts to go long.

This is mostly your setup, and thanks for the great template and indicators. I named mine the Christmas Tree template.
Attached Image (click to enlarge)
Click to Enlarge Name: 1-9-10 usd chart.gif Size: 23 KB
  • #182
  • Jan 9, 2011 3:18pm Jan 9, 2011 3:18pm
Am posting another picture as the first one covered the indicator and this one is better. To change the location of where the indicator appears on your chart, go to "inputs", and scroll down to "adjust side to side", and enter 520.

That will position it approximately in the middle top, so it's not in the way.
Attached Image (click to enlarge)
Click to Enlarge Name: 1-9-10 usd.gif Size: 27 KB
  • #183
  • Jan 9, 2011 4:46pm Jan 9, 2011 4:46pm
I have been looking at these indicators and they do seem to be pretty good. I had a decompiler that I bought off of Ebay around a year ago and I have decompiled the indicators on the first post that were .ex4 and made them mq4. Hope this helps you guys so you can now look at the code.
Attached File(s)
File Type: mq4 Golden Finger~.mq4   3 KB | 2,199 downloads
File Type: mq4 Golden Varitey~.mq4   4 KB | 2,069 downloads
  • #184
  • Jan 9, 2011 5:15pm Jan 9, 2011 5:15pm
Quoting paradoxical
Am posting another picture as the first one covered the indicator and this one is better. To change the location of where the indicator appears on your chart, go to "inputs", and scroll down to "adjust side to side", and enter 520.

That will position it approximately in the middle top, so it's not in the way.
Thanks for the chart! It seems a bit busy...what indicators do you depend on most for your entry?
  • #185
  • Jan 10, 2011 7:20am Jan 10, 2011 7:20am
Cuddlebum, I agree that my chart is a bit busy, and I usually don't like a lot of indicators either because it can make for indecision and confusion. I just started following your thread recently myself and love the golden finger indicator. That's the main one I look at, and when I get the alert, I check out the pair to see if it's a trade.
  • #186
  • Edited 10:12am Jan 10, 2011 9:33am | Edited 10:12am
Hi everybody!

I've been spending a lot of time over the weekend trying to figure out a good set trading mythology that people can follow for this system.

I'm personally all about consistency and set TP levels. I do not like changing my TP levels because I feel that gives me inconsistency's
in my trading causing unnecessary losses.

What trading mythology I've found works best for the system....

-1 trade a day each pair win or loss
-40 pip TP on each trade.
-SL, Signal in opposite direction.
-Wait for only valid signal as shown in the pic to up your win %
- Trade only EU and GU
-start trading at 6 am EST and wait till you find your trades. Usualy with in 3 hours you're done.
- have discipline and keep to the strategy.



What this method can achieve.

The golden figure only lets me do a visual back test for 1 month per pair but last month alone both pairs combined pulled in +1262 pips. +709 pips on the EU and +553 on the GU.

An example of the power of this system. The EURUSD pair had 11 straight days of 40 pip profits. 440 pips in 11 days.


I do not know how past months are but I would guess that this system could pull in an average of about 1000 pips per month. This may not be enough for some traders but it is for me.

If some of you are having trouble finding a consistent strategy or want one for that matter here's you're ride. This strategy should work well long term with this system and does bring in a good amount of pips per month.

I will be posting these rules on first post later today.
Attached Image (click to enlarge)
Click to Enlarge Name: 4.jpg Size: 129 KB
  • #187
  • Jan 10, 2011 10:03am Jan 10, 2011 10:03am
my 2 trades for today. I just entered...

40 pip tp for each EU and GU.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4.jpg Size: 167 KB
Click to Enlarge Name: 5.jpg Size: 183 KB
  • #188
  • Jan 10, 2011 10:06am Jan 10, 2011 10:06am
Hi Cubbybgood,

I've been watching this thread over the last couple days, and downloaded the ex4's, tpl's, & mq4's. however, it was mentioned towards the beginning of the thread that there was a word file that would assist someone in installing in the correct folders. I could notlocate this word document. It would be kind of someone to post this word file, so I may install into the appropriate folders and learn the basic rules of this system. I want to thank-you and others for their contributions here!

Quoting Cubbybgood
Hi everybody!

I've been spending a lot of time over the weekend trying to figure out a good set trading mythology that people can follow for this system.

I'm personally all about consistency and set TP levels. I do not like changing my TP levels because I feel that gives me inconsistency's
in my trading causing unnecessary losses.

What trading mythology I've found works best for the system....

-1 trade a day win or loss
-40 pip TP on your trade.
-SL, Signal in opposite direction.
-Wait for only valid signal as shown in the pic to...
  • #189
  • Jan 10, 2011 11:06am Jan 10, 2011 11:06am
Quoting Cubbybgood
my 2 trades for today. I just entered...

40 pip tp for each EU and GU.
nice trade, heading to your TP soon
  • #190
  • Jan 10, 2011 11:24am Jan 10, 2011 11:24am
Hi Cubbybgood,

I have been following this thread since you created it. Great info here.

I thought I knew what I was doing with the golden varitey indicator, and your template.... until I saw your above post with your trades marked by red lines. I am not sure I understand completely now. As it seems you stayed out of bad trades...that I did not.

I look forward to your write up on this.

Thanks!
Jay
  • #191
  • Jan 10, 2011 11:42am Jan 10, 2011 11:42am
Hi Cubby,

What sessions do u trade. Also is it ok to just consider goldenfinger, flat trend and fisher to be all in same colour and variety blank or other colour?

Thanks for sharing the system and info.
  • #192
  • Jan 10, 2011 11:54am Jan 10, 2011 11:54am
New update to system! Check first post! It's the best one yet!!!!

Hope you guys enjoy!

many of your questions will be answered....
  • #193
  • Jan 10, 2011 12:05pm Jan 10, 2011 12:05pm
Quoting Dunebuggyjay
Hi Cubbybgood,

I have been following this thread since you created it. Great info here.

I thought I knew what I was doing with the golden varitey indicator, and your template.... until I saw your above post with your trades marked by red lines. I am not sure I understand completely now. As it seems you stayed out of bad trades...that I did not.

I look forward to your write up on this.

Thanks!
Jay
Hi jay, this system is best traded during volatile trading times. I do not trade the euro session. The hours are not good for me.

I start trading at 6am EST (which is usually the time when things start picking up) and either enter a trade or wait for conditions to be met. Wait for the signals to look as they do in my pics. It's important to first have a golden finger signal followed by matching colors to the golden finger on all the other indicators before entering a trade
  • #194
  • Jan 10, 2011 12:45pm Jan 10, 2011 12:45pm
How did u enter the EURUSD trades after the first signal i.e. your last 2 trades on the pic u attached with the rules on first page?
  • #195
  • Jan 10, 2011 12:49pm Jan 10, 2011 12:49pm
Quoting forexripper
How did u enter the EURUSD trades after the first signal i.e. your last 2 trades on the pic u attached with the rules on first page?
Good question.

Those last 2 trades were entered at 6am EST on the hour. The reason was because the golden finger signal was still down and all the other indicators were all the same color. I wait till 6am EST so I can get some good movement and not trade during a dead time. If you have a good trading time where there is good trending movement then you can trade then But for me 6am works.
  • #196
  • Jan 10, 2011 1:07pm Jan 10, 2011 1:07pm
Have u tested other pairs. Would this work on AUD and other EUR GBP pairs too and this efficiently. What TP for them if tested by u.
  • #197
  • Jan 10, 2011 1:10pm Jan 10, 2011 1:10pm
Quoting forexripper
Have u tested other pairs. Would this work on AUD and other EUR GBP pairs too and this efficiently. What TP for them if tested by u.

I have not really tested other pairs yet with my strategy but I will. Pairs I plan to test. AUDUSD, GBPJPY, EURGBP, USDCHF and USDCAD.
  • #198
  • Edited 1:38pm Jan 10, 2011 1:19pm | Edited 1:38pm
Cubbly, I could check this myself, but it would take some chart watching, and I wonder if you know. That Fisher indicator.....I know that a version that was going around a year or so ago repainted about 3 bars or so back depending on whether or not the reversal was sudden, and that was the rap on it. Do you know how many, if any, bars back the this Fisher indicator repaints?

Edit. Scratch the above post. I didn't see a repaint issue by watching the Fisher on a one minute chart.
  • #199
  • Jan 10, 2011 2:06pm Jan 10, 2011 2:06pm
Quoting paradoxical
Cubbly, I could check this myself, but it would take some chart watching, and I wonder if you know. That Fisher indicator.....I know that a version that was going around a year or so ago repainted about 3 bars or so back depending on whether or not the reversal was sudden, and that was the rap on it. Do you know how many, if any, bars back the this Fisher indicator repaints?

Edit. Scratch the above post. I didn't see a repaint issue by watching the Fisher on a one minute chart.


I think you are referring to an older fisher indicator. This one had been confirmed as none-repainting.

Just did backtest for 1 month on these pairs....

The 40 pips strategy not prooving as well on other pairs. USDCHF looks decent though.

USDCHF +437 pips.
USDCAD +78 pips.
AUDUSD -28 pips.

These stats are using my method of 1 trade a day per pair with a TP of 40 pips
  • #200
  • Jan 10, 2011 3:16pm Jan 10, 2011 3:16pm
Quoting Cubbybgood
Lol. Yes, I have noticed this as well. doesn't happen very often but yes, I have seen it happen once. I dont know why. seems to me like it's not a repaint issue. Seems to just not paint at all but really it should have... Think it could be a prob in the code?
.

Hi cubby,
did anybody rectify the non painting golden finger discussed above (post 76)?. If you drop it on a 1min chart it's easy to see that once you have a new signal with alert rarely does it draw another one untill the terminal is restarted.

appologies if I have missed the solution en route.

regards

doc
1 trader viewing now