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Profit All Day System

  • #821
  • Feb 8, 2011 5:26am Feb 8, 2011 5:26am
Quoting Vantage
Its a great system and I wouldn't have vouched for Cubby otherwise. If you are going to ignore all other aspects of trading good luck to you (don't mean that in a nasty way). You'll prob take a great system with a high % win rate to something so so. If you took absolutely every trade then there'd be millions of successful ea's out there (for this and many other systems) and no-one would have bought an ea and be disappointed.

A challenge then, have a look at the times of the day for every trade cubby has posted. Even better if they are cherry picked...
I don't disagree that you may want to add discretionary components, all I was saying is in the original post it was clearly stated not to change the rules, therefore if someone was following this system by the rules they have encountered 3 losses in a row, which again is fine because we all have losses.

My question Vantage is are you sure this is a great system, have you got stats of this system over the past year?

It would be interesting if anyone who is trading this system opening a trading journal for the 5/15 min and a 15/1hr.
  • #822
  • Feb 8, 2011 5:36am Feb 8, 2011 5:36am
Quoting forex1962
Nicked 8 points now looking for a reentry
Plus is a plus man
I found a penny today. That's +100 pips for me.
  • #823
  • Feb 8, 2011 5:37am Feb 8, 2011 5:37am
Quoting Vantage
Well then exactly he doesn't trade every signal. He has whittled down to time during the day he's prepared to trade.

Again apologies for sidetracking this great thread and wonderful system.

I hope this discussion will stop, I also hope that someone looking to make a success of trading will stop and take some time to wonder what the fuss with this discussion is about.

Comments from anyone that has traded for a living for a few years welcome.
Wow,
you are just writing what I am thinking. Love it, just love it...

Picking you're battles is the hardest thing after following your plan I reckon...

I think that only comes with practice though, how long that takes depends on how you are as a person...
  • #824
  • Feb 8, 2011 5:41am Feb 8, 2011 5:41am
I've just been taking a back seat, reading the recent posts. I have noticed with this system that yes if you take every single trade you will have a lot of losers, however i think you just need to apply a little bit of common sense. Don't enter right on pivot, R/S levels, don't enter right on high impact news, sometimes medium impact. Think about exiting trades when you are coming up to a 00 or 50 level or an important pivot/R/S level. Let the 15min chart show its hand before looking for a set up.
Trade the price action, not the cash!!!
  • #825
  • Feb 8, 2011 5:41am Feb 8, 2011 5:41am
Quoting ciscosmithy
I don't disagree that you may want to add discretionary components, all I was saying is in the original post it was clearly stated not to change the rules, therefore if someone was following this system by the rules they have encountered 3 losses in a row, which again is fine because we all have losses.

My question Vantage is are you sure this is a great system, have you got stats of this system over the past year?

It would be interesting if anyone who is trading this system opening a trading journal for the 5/15 min and a 15/1hr.
I have traded higher lows and lower highs ie 1 2 3 tops/bottoms for a living for about 3 years now. I have tried and discarded other methods along the way. This is the only method I have stuck with. Sometimes I enter trades more agressively, sometimes on break of 2 point. Bottom line I've also picked up some pretty useful ideas along the way of times and set ups to avoid. I'm also quite happy to pick up a winner and walk away for the day.

On the 1 2 3 thread mentioned above someone did some stats for 1 month on the method Paulus trades 1 2 3's. His results were in the region of 70% winning trades. Taking every trade no way, taking the reversal set ups yes. That method and this one get the same entries except this has an indi and ma's added.

Apart from some bad times here and there that figure is about right over the longer term.

I also saw someone comment that a backtest shows this method doesn't work, obviously because its taking every trade without exception 24/7.

I've done hundreds of hours trading already with this method and prior to that hours pouring over charts to get what works for me. So I know it works.

Anyone wanting to trade this or any method should do his own homework as to what works for them.
  • #826
  • Feb 8, 2011 5:51am Feb 8, 2011 5:51am
Quoting Vantage
I have traded higher lows and lower highs ie 1 2 3 tops/bottoms for a living for about 3 years now. I have tried and discarded other methods along the way. This is the only method I have stuck with. Sometimes I enter trades more agressively, sometimes on break of 2 point. Bottom line I've also picked up some pretty useful ideas along the way of times and set ups to avoid. I'm also quite happy to pick up a winner and walk away for the day.

On the 1 2 3 thread mentioned above someone did some stats for 1 month on the method Paulus trades 1 2 3's....
Vantage,
A great response and clearly from your experience the base is ok but requires discretionary experience to be truly successful, as I think the original rules if you took every trade offered, would bleed a slow death, in my experience of trading.

The main thing as your clearly point out is "Anyone wanting to trade this or any method should do his own homework as to what works for them."

As requested I will leave the discussion there.

Looking at 15m/1hr, successful EUR trade at 22.45EST, before London open but 23 pips in the bank if anyone took it.
  • #827
  • Feb 8, 2011 5:52am Feb 8, 2011 5:52am
Keep posting, some useful information.


I just had 5 scalps on these crazy moves 2 break evens with small win and 3 wins.

Sorry for off topic I am waiting for set up here^^
I found a penny today. That's +100 pips for me.
  • #828
  • Feb 8, 2011 5:54am Feb 8, 2011 5:54am
Quoting Scullmeister
I've just been taking a back seat, reading the recent posts. I have noticed with this system that yes if you take every single trade you will have a lot of losers, however i think you just need to apply a little bit of common sense. Don't enter right on pivot, R/S levels, don't enter right on high impact news, sometimes medium impact. Think about exiting trades when you are coming up to a 00 or 50 level or an important pivot/R/S level. Let the 15min chart show its hand before looking for a set up.
Totally agree
Ciao. Luca
  • #829
  • Feb 8, 2011 5:54am Feb 8, 2011 5:54am
Quoting ciscosmithy
Looking at 15m/1hr, successful EUR trade at 22.45EST, before London open but 23 pips in the bank if anyone took it.
Yep it was a good trade, but I always sleep at this time
I found a penny today. That's +100 pips for me.
  • #830
  • Feb 8, 2011 6:27am Feb 8, 2011 6:27am
Let's see how it goes.

Update: closed the trade at 1.6085

Risked 31 pips gained 16. Did not want to let 30% run, because the area was not broken previously (strong support) and we are not far from NY open. Now I will wait for NY open and then look for a trade.
Attached Image
I found a penny today. That's +100 pips for me.
  • #831
  • Feb 8, 2011 6:32am Feb 8, 2011 6:32am
Good trade ream I saw that setup too however today I have restricted myself to eurusd only. Only 1 valid trade so far and it was profitable. I see gbpusd has had 2 good entries today both hitting their 70% target. If I continue to see good setups on the gbpusd then I may add it back on again. I took it off as all my experience is with the eurusd, spread is low and it trends quite smoothly.
  • #832
  • Feb 8, 2011 6:37am Feb 8, 2011 6:37am
Quoting autotrader
Good trade ream I saw that setup too however today I have restricted myself to eurusd only. Only 1 valid trade so far and it was profitable. I see gbpusd has had 2 good entries today both hitting their 70% target. If I continue to see good setups on the gbpusd then I may add it back on again. I took it off as all my experience is with the eurusd, spread is low and it trends quite smoothly.
I was also trading both and realised there probably isn't much point taking trades on both simultaneously as they are closely correlated....so now just take the signals on whichever pair is 'cleaner' looking at the time.
  • #833
  • Feb 8, 2011 6:43am Feb 8, 2011 6:43am
Quoting sidefx
I was also trading both and realised there probably isn't much point taking trades on both simultaneously as they are closely correlated....so now just take the signals on whichever pair is 'cleaner' looking at the time.
Doesnt sound like a bad idea. Infact today I worked out you could be in all 3 trades if you took 100% tp on each
  • #834
  • Feb 8, 2011 6:50am Feb 8, 2011 6:50am
please can someone help me if this is a good entry in 5/15min.
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  • #835
  • Feb 8, 2011 6:53am Feb 8, 2011 6:53am
Always take the set up that looks best.

I like EU more, but today it looked all crazy (I had tree wins scalping that craziness). I think it is always have two systems at the same time, I can scalp and when I see good set up, I use Cubby's strat to join the trend.
I found a penny today. That's +100 pips for me.
  • #836
  • Feb 8, 2011 6:55am Feb 8, 2011 6:55am
It does not fall into definition, since M15 semas have not even crossed yet.

I predict price will fall, but we are not far from NY open, so be careful.

By the way, there could be a long signal any minute... so it is better two wait.
I found a penny today. That's +100 pips for me.
  • #837
  • Feb 8, 2011 6:57am Feb 8, 2011 6:57am
Quoting ReaM
Always take the set up that looks best.

I like EU more, but today it looked all crazy (I had tree wins scalping that craziness). I think it is always have two systems at the same time, I can scalp and when I see good set up, I use Cubby's strat to join the trend.
ReaM please could u look @ post post 834 to tell me why this set up is bad according to the rules.it reversed on me as soon as i entered
  • #838
  • Feb 8, 2011 7:00am Feb 8, 2011 7:00am
Hi, comradeship. this is my vision, thanx Cubby
it realy works
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  • #839
  • Feb 8, 2011 7:01am Feb 8, 2011 7:01am
Quoting ReaM
It does not fall into definition, since M15 semas have not even crossed yet.

I predict price will fall, but we are not far from NY open, so be careful.

By the way, there could be a long signal any minute... so it is better two wait.
thanks i will wait but i think m15 emas crossed .maybe am missing something here. am i?please correct me if am wrong
  • #840
  • Feb 8, 2011 7:02am Feb 8, 2011 7:02am
sorry bud,

I thought you wanted to short that thing, did not see the buy signal,

let me look..
I found a penny today. That's +100 pips for me.
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