Symphonie Trader System

what exit strategies are you guys using 1 or 2?

Lindrich, we need the indicators also please. Single template is useless if we don't have indicators.

Sorry here are the indicators

I also agree with jack. easy scalp day. So far 12 short scalps (some risky) this morning with no loosers so far...hope it continues. Using many indies and templates from this thread. Can't male up my mind which 1 is best for me. Will wait and see how lindrich tpl and indies do as/when he is able to post all. Thanks folks.

Thanks for your posts/explanation ..indicators and template.

Thanks Lindrich!!! Already made 10 pips from your template....


Looks good

That's great remember 10 pips add up dont be greedy I follow 6 different pairs which can add up over a week of trading.

Thanks a lot lindrich but could you please explain why you do not put a SL? This makes me nervous !

Hi lindrich,

thanks for your effort -

May I ask you which six pairs you trade?
I assume you only trade pairs that fit best to your system, right?

Thanks a lot lindrich but could you please explain red and green dot with white ring?

Hi lindrich,

I could not find which timeframe you use.

Which TF is best suited for Semafor and which one do you use?

This is why I did not explain about not having a stop loss because bcause you hit the nail right on the head "Nervous" this is what drives the market as I stated in my first post you have to have the right state of mind to trade if you trade with Emotion and do not trust your indicators you will lose Fear drives the market. When the market crashed last Wed. alot of
traders lost money beacause they let there emotion take over at the same time alot of traders made money feeding on Fear and what happened the next 2 days the market went up, just like it did a few years back when the U.S. markets crashed if you look at most blue chip stocks they have doubled or tripled from those lows.

If you follow Evals. momey management chart posted on the first page you should not require any stop loss. I have a account with a 1/200 margin rate so if you follows the chart on the first post you should buy only .1 units per 1000.00 in your account which means if I bought .1 units of USD/CAD I would have to put up 50.00 and would have 950.00 in equity or in other words 950 avaliable pips if you think about when has this currancy gone straight up or down 950 pips on a 5Min. chart without any bounces.

In the past 6 days of trading including today I made 82 trades with 0 losses in 82 trades the only time a trade went against my entry point was last Wed. I had a buy signal to go long on the EUR/USD and about 4 bars later it went straight down 100 pips I do not look at this as a losing trade but more like a delayed trade I will re-enter a trade only when I have a buy signal that is far enough away from the original entry point in this case I got a buy signal and took another entry when I was down 100 pips I treat each trade as a seperate trade I do not dollar cost average so when the second trade went up 10 pipis I closed that postion and still held the first entry a short time later it dropped again it started to go up again and another entry point was shown for 10 more pips then the market went straight up to close my first entry for 10 pips. Instead of taking a loss I made 30 pips on this one pair if you re-enter and take to many position that are to close togther you may end up with a margin call if you over leverage yourself when fear drives the market down there are always traders that will make alot of profit on this.

Just look at it this way if you had a account with $100.00 in it and bought .01 units (same ratio as the chart) if your pair is down 100 pips your account woul be down $10.00 would you worry about losing the 10 dollars if you answered yes than you should not be trading and to the other extreme if you had a $100,000.00 and where down $10,000.00 should you panic no this is really no different than the micro lot if you let emotions take over everytime your down you will close out the trade and keep taking losses I know it has happened to me enough times as I let fear take over and take a loss which could have been avoided everytime if I just held on a little longer I would have made money instead of losing. Keep in mind the my way of trading. You have to figure out your own way that makes you comfortable.

Sorry for the long explanation but I wanted you to understand why I trade like this.

[quote=lindrich;5132421]This is why I did not explain about not having a stop loss because bcause you hit the nail right on the head "Nervous" this is what drives the market as I stated in my first post you have to have the right state of mind to trade if you trade with Emotion and do not trust your indicators you will lose Fear drives the market. When the market crashed last Wed. ......quote]

82 and 0 ??? Nice record.

I wouldn't let a trade go even remotely close to 100 against me on a 5 minute chart, but you have a much stronger stomach than I do apparently.

Thanks for sharing your modifications.

Thanks for the explanation. This is far more important than your indicators and templates. Very nice explanation.. Thank you lindrich!

Hello Lindrich, and thanks for your contributions.

Of course you must trade in the way that is profitable and acceptable to you, but I do question your profit level and your 'no stop loss' method.

In one post you state "I only collect 10 pipis because it is much harder to find a exit than a entry signal I would rather have 10 pips in my account and lose out on some extra pips than take a loss knowing that I could have made pips."

So you would rather have 10 pips in your account than take a loss? Fair enough.....can't argue with that! However, in another post you state that you are quite happy to let a trade to go under by -100 pips and not even worry about it.

My friend, you don't know, no matter what you say, that this trade will come to profit. I know someone who else who did this (not me), and the -100 soon became -150. Then -250. Then -400......at which stage he could not afford to get out of the losing trade and he eventually got a visit from mister margin and he lost his entire account.......all because he *knew* that his -100 would come to profit.......only thing is that it never did come back to profit.

Trading without a stop loss is foolish and there are many new traders on this thread that don't need this poor piece of advice. If you wish to trade in this way, that's your business......please don't encourage others to trade without a stop loss.....it's irresponsible.

Further, you're too scared to stay in a trade at +10......yet you're happy to stay in a trade at -100. Do you see a problem with that??? One of the single hardest things to do in this business is to cut the losers free and let the winners run.......you are cutting the winners free and letting the losers run.

I am not doubting your modifications to Evals excellent system, but quite frankly, your MM sucks and I would not advise anyone to follow.

RJ

Nice going Jack........it's good to start the week with a pocket full of pips

^^ This.

this is forex, anything can and WILL happen eventually. If you think it's impossible for a pair to dive or be up 500~1000 pips in one day or two, I suggest you guys take a look on recent action specially in pairs such as gbp/jpy, usd/chf...even on euro we had 300+ pip day not so long ago.

trading without any kind of SL, eventually you'll be wrong, and worse than that, you will be wrong at the very end of a trend, when it reverses.

that's why it's called stop loss...TO STOP THE LOSSES, to keep us alive so that we can trade the next day, recover and keep going.

Yep,

I got a feeling this is gonna be a good week. I'm sure you did well today too.

Wow. Lots have gone on since my 2 week sabbatical. New faces. More pips. More controversy. This is getting good! I have to jump on a couple of bandwagons here...First, having traded professionally before with another partner, who did not put a SL in one particular trade, at a time he was trading the account, and as that trade went against him(us)/& investors, as he swore it 'had to' turn around; as it went 30, 50, 90, then ultimately over 200 pips against him(us)/ & investors....margining the account, and losing just over 200 grand. It was not a pretty thing, and regardless of the fact that every trade i took, I used a SL, he did not. Call it cavalier, call it bold, call it a mistake, but at the end of the day, it was called a loss of relatively large proportions. PLEASE...EVERYBODY USE A STOP LOSS...no matter what. I am present to the commitment underlying many contributors here on this thread, especially its' creator, Eval, and it seems that the majority want others to succeed/not lose/win/thrive/etc.

Second, it seems there are many new directions pulling on this thread, and no matter how convoluted things may seem to get, reliably, it ALWAYS works to go back to basics. If you're new to this thread, go to the first page and the first post and get started with the setup and watch it, make observations, list questions, then come on in and bring it. PLEASE. Eval is doing a great job keeping it real, and keeping that post current, so honor him and his hard work by following a lil' protocol up in here.

Third, I forgot who in this last 30 pages of catch up on the thread I just read mentioned, but yet I have not seen it responded to except by a few, and perhaps not yet from Eval, but the point was...why not trade on the M5, which was indeed WAY more profitable than the M15 of late...taking one's pips, and waiting patiently for the next setup, which definitely some more frequently on the M5. Heck, I have been looking at an adaptive entry, and I feel sure I am not alone, and would love to hear from others on this subject, where I enter on a M1 chart, switch management to an M5, then if it opens up, to an M15, which, in theory, produces a tighter entry, smaller SL, and more upside potential to your account without as much risk if you are using Eval's ARS MM system.

Lastly, thank you to ALL of the majorly consistent contributors on here...from ALL of us..THANK YOU THANK YOU!!!

I leave you with one of fave quotes. It inspires me, and it describes trading, & all of us who are in this chosen field of endeavor to a T (IMHO).

“It is not the critic who counts: not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself for a worthy cause; who, at the best, knows, in the end, the triumph of high achievement.” Theodore Roosevelt , circa 1910

Again, RJ made some really good comments here Here is my logic:
When you are loosing -100 pip, most likely you have received a signal that goes the opposite direction to your trade. If you are so confident in your trading system and claim it works 9/10 times, why would you continue letting the trade go against your signal?

I had been backtesting during this week and had not traded live. I know how you feel sometimes Lindrich, it seemed like in some ranging or whipsaw movements, it seemed like we should just take the 10 pips and go. However, when I follow Eval's original system that incorporate stop trailing, some trades i made 200 pips (half lot cuz I closed 1/2 when spike first appeared).

Question for Evaluator:

"SPECIAL EXCEPTION to Exit Strategy This exception applies to all Exit Strategies and supersedes them. When a trade produces an Extreme Spikes before reaching 30 pips....,EXIT THE TRADE IMMEDIATELY,"

I had been struggling on how to exit on loosing trades. Let me demonstrate an example:

1) I entered long
2) Price is dropping immediately after I went in. From since I went in, there had not been an extreme spike that signals price going down. (no Top extreme spikes)
3) Trendline changed color from blue to red
4) price continue to drop and passed the previous bottom extreme spike (new bottom extreme spike forming)
5) closed at -50 pips

By following evaluator's rule, does the extreme spike had to be a top extreme spike in this case or any extreme spike will do (including bottom extreme spikes)? This is because it makes sense to stop at 4) because at 4), all 4 indicators are pointing down and signaling a short and thus I should exit the long position.

So in conclusion my question is: When should I exit the trade if im loosing money in particular relating to the extreme spike does it have to be an extreme spike pointing to the opposite direction of my trade or any extreme spikes?