which system

I was wondering if anyone of you has had success with the systems listed in the beginner's section? I can't make up my mind on which one to follow. Any advice? at the moment I am using a EMA crossover, 10-20-40, and stochastic(9,3,3). I have no idea if this is a good setup. Breaking even since monday, though I need to work on my discipline. Thank you much, PT.

Go with the Vegas 4 hour or Vegas Wealth Builder methods. Find the thread in the Forex Discussion forum entitled "Vegas Wealth Builder - Discussion". In the first post of that thread you can download all of the Vegas documents. After reading the VWB documents (1 & 2) then read the thread where you got them. After that read the sequel thread "Vegas Wealth Builder - Part II".

Don't trade real money until you've traded demo successfully for several months. When you do switch to real money, start with teeny tiny position sizes until successful with those.

Dial

Dont use stochastic. It is useless indicator. I have tested it in metastock and it showed poor results.

All indicators are crap! Go with the trend and place yor stop orders according to which frame you are using for your trend, whether it be daily hourly or minutes. And the trend will retrace! Or turn. So don't bet your life on the trend either.

Not all indicators are the crap. MACD can show you that the trend can change in a moment. When the differend of MACD is very high it is very probable that the trend will change.

I've decided to share the elusive which system, (with respect to pacotrojan).

Basically, it is a mean reversal strategy..

1) Only trade in the direction of a positive swap.

2) Only trade daily chart.

3) Wait for a close outside Bollinger Bands, preferably with divergence on the Awesome Oscillator.

4) Trade small, leave plenty of margin available, be prepared to average into positions.

5) Take Profit @ the 20sma.

That is it.

CADJPY looking the goods..


Now, time for some inspirational quotes from the OP himself of this thread, in his first post, way back in 2006! PACOTROJAN!

"you has had success with the systems" - pacotrojan

"this is a good setup" - pacotrojan

"to work on my discipline. Thank you much, PT." - pacotrojan

God bless you pacotrojan, I'm sure the Gods are smiling upon you..

nice gift from the gap.

that was a nice bullish engulfing candle on EURCHF yesterday

West Texas Intermediate Crude .. oil that is, black gold, Texas tea..

That mean-reversion checklist (positive swap, daily chart, close outside BB with AO divergence, TP at 20-SMA) is clean and rules-based. I’d add a hard cap on averaging-in and a max adverse excursion per idea

EURUSD

I have been trained in classic price action and am now successful and profitable in it. I want to have more, better and more up-to-date information every day and master another style so that I can be more productive and have better productivity by combining both styles. In your opinion, should I continue with the same style that I started with and achieved continuous profit, or should I learn a new style like (RTM)? Can learning a new style, applying its tips, and combining it with previous knowledge and skills be useful?

I blew time chasing systems until I tracked stats and realized edge = clear rules + risk control + consistent execution. Whatever you pick, journal it and prove expectancy over at least 100 trades before sizing up. Tools are optional; process is non-negotiable

Before you can pick a system you have to decide what your ideal trading day looks like. Big profits, that clear. But beyond that.
Would you like to gaze at the screen 8 hours a day, or is your dream to work 1 hour a day and then do other stuff?

If you have a fully automated system the above questions aren't relevant because if you would have such a system you let it run for decades and your only work is withdrawing profits from your trading account. But lets ignore that holy grail for now.

If you are willing to sit all day long in front of your screen AND you have enough concentration many systems are suitable.
If you only want to work 1 hour a day then a longer term system is what you need.

With longer term I mean trades that easily last hours to a few days or more. Usually that means M30 or H1 and higher.
Then your daily job would be screening stocks and pairs.Then start the trades and leave your home.
It's also a great way if you can't stick to your system when you are watching the charts.

From what I wrote I think you can guess what my favorite is :-)
Making the above choice is the first step.

Not all systems are suitable for small accounts. That's the second step.

That way your are narrowing down systems.
And you keep narrowing down based on your preferences.
And that's very very important. If I seasoned and successful trader advises you a system you for some reason don't like, then don't trade it.
Because what you don't like, you second guess, and that's fatal.

Systems are the easy part. the edge is consistency, risk, and fit to your schedule - pick one time frame and measure expectancy for 50–100 trades before you iterate.

I will be honest with you, don’t lose too much time with EMA crossovers. For beginner it sound nice and clean, but in reality you don’t learn much from it. The system is extremely simple, like really simple… even a grandma can trade crossover So you are not forced to think about market structure, context, why price move, etc.
Second problem is signals. They are very few. Sometimes you wait days for clean crossover + stochastic confirmation. What you gonna do in the meantime… just stare at screen?
I see crossover systems more like something you keep in your arsenal, not your main weapon. Good to know, good to test, but not something to build full trading career on. Focus more on understanding price behavior, risk management, and discipline. That will help you much more long term.

Whatever system you choose, if you don't have discipline and patience, it won't work.

I trade 2-3 setups depending on the day. Nearly always the m1 time-frame and mostly London Open first 90 mins.

What I rely on is a suite of indicators to give me all the information I need to make a decision then I wait to see if a setup comes my way. The most common setups I look for are an AC Correction, Supply / demand flip, 1-2 and trendline break.

These are the eWh indi and ABC123 (Snorm) indi's and also levels - all the opens and closes - Day, Week, Month, The Overnight Open / Close, Supply Demands on m1 and m15, Fair Value Gaps, Fib levels and Trend Lines.

Working with a strong HTF magnet as a target and the above tools I can enter a trades on price response at these levels and aim for a strong target.

I also use the Advanced Trade Manager to manage the trade. This has some nice automation when I cannot be with the trade until the end.

Example trade and tools / indi's screen shots On both the images you can see examples a few trades, each with a price level being broken, level tested and a price reaction at the test. Most trades also have a target level that I am aiming for.

Great stuff!