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Profit All Day System

  • #201
  • Jan 31, 2011 5:56am Jan 31, 2011 5:56am
Quoting ZeroSumGame
I caught it too. right to the tick. awesome.
may take another one @3662. target 3678 (which happens to be daily pivot as well.)
I went from 3661, hit my tp at 3675, what a marvelous day
  • #202
  • Jan 31, 2011 6:07am Jan 31, 2011 6:07am
Effectively this is a nice hl/lh 1 2 3 variation.

Trade from earlier buy 5890. Instead of having a stop thats much too big below 2829 we use stops below the last 5 min hl, 5866 in this case. We also viewed this as an 85/15 trade and with a pivot and fib at 5912 a logical exit.
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  • #203
  • Jan 31, 2011 6:37am Jan 31, 2011 6:37am
long again from 3675, target 3696, stop 3633

hit tp, add another 21 pips to the pile

48 pips for the day.
  • #204
  • Jan 31, 2011 6:46am Jan 31, 2011 6:46am
Quoting scottyfromau
long again from 3675, target 3696, stop 3633
nice...
  • #205
  • Jan 31, 2011 6:58am Jan 31, 2011 6:58am
Quoting ab1
Hi

Nice little system and it looks like you make a profit consistantly, so if you reach your goals everyday then thats great, thats what we are all doing it for. I have an open mind and am willing to encompass any ideas that will make me a winner and respect any trader willing to share what they do.

However in my opinion having a system that has an entry once price has moved significantly in a certain direction is not ideal, the reasons are you are lining the pockets of those that know how to trade, which is fine by me..lol, you risk the...


so what do you suggest ? do you have a trading strategy in mind ?



cubby

i do not think this system will make pips. if you start in the morning until market closes, and take every trade as they appear, you will see that the wins and losses seem to balance each other out. just picking a trade randomly and making a few pips may work sometimes but at other times you will find in the losing end and being a r:r of 2:1 , your winnings will quickly diminish. so i still need to see concrete results from you, for at least 2 weeks posted here on a daily basis. backtest is also required.


cheers
  • #206
  • Jan 31, 2011 7:02am Jan 31, 2011 7:02am
A trade for today. The red line is where I'm going to be taking out 70% of my trade.

lookes like a good trade so far...
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  • #207
  • Jan 31, 2011 7:09am Jan 31, 2011 7:09am
Quoting whatfx
so what do you suggest ? do you have a trading strategy in mind ?



cubby

i do not think this system will make pips. if you start in the morning until market closes, and take every trade as they appear, you will see that the wins and losses seem to balance each other out. just picking a trade randomly and making a few pips may work sometimes but at other times you will find in the losing end and being a r:r of 2:1 , your winnings will quickly diminish. so i still need to see concrete results from you, for at least 2 weeks posted here on a...
I will post my results for this week here good or bad. On my bad weeks I still usually make some pips but we will see how things go. You can naturally be sceptical with a system that has a win loss ratio like this. Don't forget that I let the winners run by taking out 70% of my trade at half of SL and lieving the last 30% till 3 and 5 ema cross the 13.
  • #208
  • Jan 31, 2011 7:10am Jan 31, 2011 7:10am
Quoting whatfx
so what do you suggest ? do you have a trading strategy in mind ?



cubby

i do not think this system will make pips. if you start in the morning until market closes, and take every trade as they appear, you will see that the wins and losses seem to balance each other out. just picking a trade randomly and making a few pips may work sometimes but at other times you will find in the losing end and being a r:r of 2:1 , your winnings will quickly diminish. so i still need to see concrete results from you, for at least 2 weeks posted here on a daily...

I'm not sure he really needs to proove it to you. Thats for you to do...
  • #209
  • Jan 31, 2011 7:19am Jan 31, 2011 7:19am
Quoting scottyfromau
I'm not sure he really needs to proove it to you. Thats for you to do...

You do have a point here. I am the one that 's done all the work to put up this system. A little unfair that I have to prove to you WhatFX. Kinda seems like you don't want to put out the time or work to see if the system is for you...
  • #210
  • Jan 31, 2011 7:31am Jan 31, 2011 7:31am
Quoting Cubbybgood
I will post my results for this week here good or bad. On my bad weeks I still usually make some pips but we will see how things go. You can naturally be sceptical with a system that has a win loss ratio like this. Don't forget that I let the winners run by taking out 70% of my trade at half of SL and lieving the last 30% till 3 and 5 ema cross the 13.
Hi Cubby...

When you reach half your SL and cash in 70%, do you move your stop loss to BE while the remainder rides, or leave it alone?

Doing great today with this, by the way.

Thanks for your hard work on this system.

Wally
"Be the change that you wish to see in the world." --Gandhi
  • #211
  • Jan 31, 2011 7:35am Jan 31, 2011 7:35am
Quoting Cubbybgood
A trade for today. The red line is where I'm going to be taking out 70% of my trade.

lookes like a good trade so far...
i caught this trade at 5884 on the 15 min. target has been hit, but i am holding it until 5928 which will have lots of res. i will leave one pos open until it hits 5945 or until ema crosses.

thanks cubby, you have added another arsenal to my already effective trading toolkit.
  • #212
  • Jan 31, 2011 7:39am Jan 31, 2011 7:39am
Quoting Wally1953
Hi Cubby...

When you reach half your SL and cash in 70%, do you move your stop loss to BE while the remainder rides, or leave it alone?

Doing great today with this, by the way.

Thanks for your hard work on this system.

Wally
Very good question, I'm glad you bring this up. I can tell you have good discipline in your trading.

After my first TP hit I will move my SL to the last lowest low on the time frame I am trading. Some times if I'm trading on the m15 I will move to the 5 minute and move my SL to the last lowest low there.

Glad to here you're doing well!
  • #213
  • Jan 31, 2011 7:46am Jan 31, 2011 7:46am
Quoting ZeroSumGame
i caught this trade at 5884 on the 15 min. target has been hit, but i am holding it until 5928 which will have lots of res. i will leave one pos open until it hits 5945 or until ema crosses.

thanks cubby, you have added another arsenal to my already effective trading toolkit.

Nice! you got the move early!

Good work. You're up some good pips today. You may lose a few pips with the 30% at that resistance point but if the price decides to blow right by it you will be in good shape. Even if you lose a few pips waiting for the 3 and 5 to cross you will still have major profit overall.
  • #214
  • Jan 31, 2011 7:50am Jan 31, 2011 7:50am
What do you guys think? Post a mt4 live account so people can see the performance?

I'm a little hesitant because it ads pressure to my trading because I know people are watching but I can still do it if you guys think it's needed.

Let me know...
  • #215
  • Jan 31, 2011 7:58am Jan 31, 2011 7:58am
Quoting Cubbybgood
What do you guys think? Post a mt4 live account so people can see the performance?

I'm a little hesitant because it ads pressure to my trading because I know people are watching but I can still do it if you guys think it's needed.

Let me know...
I can't speak for anyone else, but you have been more than helpful. The strategy is self explanatory imo.
  • #216
  • Jan 31, 2011 8:06am Jan 31, 2011 8:06am
Quoting ZeroSumGame
I can't speak for anyone else, but you have been more than helpful. The strategy is self explanatory imo.

There is no need for you to do that. If anyone is in doubt about the system let them read the chaos theory method by Bill Williams or just slap the Williams tpl on there charts (just add the fractal to it). This is a cool simplified version of that method as already mentioned by a FF member on Friday.
  • #217
  • Jan 31, 2011 8:30am Jan 31, 2011 8:30am
Quoting Cubbybgood
What do you guys think? Post a mt4 live account so people can see the performance?

I'm a little hesitant because it ads pressure to my trading because I know people are watching but I can still do it if you guys think it's needed.

Let me know...
You don't need more pressure.

System is fine and your requirements avoid the chop and get decent entries into the main moves.

I would say for newer traders the further away you get from the start of a move fine, each entry is a higher risk, but if you got the 1st move and been banking along the way to get into the next move is fine. As long as your risk is reasonable (still got a bit of a problem with your 1st post R:R and size of stops but I'm a big enough boy to sort that out for myself).

Anyone looking to trade this could also have a look at the how to use 1 2 3 strategy http://www.forexfactory.com/showthread.php?t=232466 for additional background info.
  • #218
  • Jan 31, 2011 8:38am Jan 31, 2011 8:38am
Quoting Vantage
You don't need more pressure.

System is fine and your requirements avoid the chop and get decent entries into the main moves.

I would say for newer traders the further away you get from the start of a move fine, each entry is a higher risk, but if you got the 1st move and been banking along the way to get into the next move is fine. As long as your risk is reasonable (still got a bit of a problem with your 1st post R:R and size of stops but I'm a big enough boy to sort that out for myself).

Anyone looking to trade this could also have a look...

I finally just added the second part of the system to the first post. This mentions about the taking out of 70% of the trade when TP is hit and letting the rest ride.
  • #219
  • Jan 31, 2011 9:11am Jan 31, 2011 9:11am
self explanatory!
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  • #220
  • Jan 31, 2011 9:14am Jan 31, 2011 9:14am
great day so far!

I locked in 16 pips with 70% of my trade. Now I'm up over 50 pips with the 30%

I'm guarantied profit with the 30% because the last lowest low is above my entry

This is a live account by the way!!
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