System32

Hello, this is the first time I have shared my system on the forex factory forum. Please feel free to have a look. I am about to make a bold claim here, this system does and will work if used properly. Please feel free to get in touch if you need any assistance. It is important that everyone has a good working knowledge of money management and has at least has a working knowlege of the markets. The system is only a part of making money and keeping it.

Please download the the 4 files and distribute them between your indicator and template files accordingly.

If you need instructions on how and where to save your indicator and template files then search you tube for "Urban Forex Metatrader 4 Tutorials Adding Indicators and Templates "

If your chart looks like mine then it has all worked well. I will do my best to give a crystal clear explanation of exactly how we trade the system and the entry and exit rules.

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Firstly please take a minute to inspect your charts to ensure they look like my screen shot. Now have a look and see how the indicators react to desirable movements in the markets. On every trade we are looking for several things to happen.

As you can see above I have highlighted a single trade at random, you should be able to see all indicators giving a clear sell signal at the time the grey arrow appears. We can tell this is a signal for a short position in several ways.

RULE 1: The 100MA (blue) is heading in the direction of the indication.

RULE 2: The indicators in the indicator window are all showing an overbought position, they are ALL squeezed to above the 80 line on the vertical scale, in fact they are squeezed so tightly they all appear to be one line.

RULE 3: Never enter a trade until the current candle has closed. So in this instance the grey arrow indicates a short position opening up, this means we will wait for that candle to close and we will only enter when the price drops below the low of the candle to trigger the signal.

The beauty of a system that is this visual is that you can instantly decide if the chart you are looking at has any potential for profit via these indications. It is very important to remember that any system will pick up every trade that may yield profit, it was my aim to find maybe 1-2 trades per week per chart via this principal and to be sure that if everything lines up correctly then I have a mighty fine chance of taking a few pips out. The exit signal can be determined when an opposing arrow appears but this does not mean that you should ever reverse a trade unless it fulfils the requirements of rule 1,2&3.

Please research money management skills if needed, close parts of each trade at certain points and constantly adjust the stops to ensure that I attain a 0% risk position as soon as possible without suffocating the trade and then I bring the stop loss in to profit gradually, closing portions of the trade as I go. Other money management techniques work just as well too, this is just my preferred option.

If anyone has any questions or would like some live demo time just let me know.

It is more important to know when not to trade, i judge this in 3 ways. Firstly if the 50MA is flat or opposing the indication then personally i leave it. If the bollinger bands in the indicator window look really messy then generally speaking the market will be in consolidation and not worth the risk. Finally you will need to take the major levels of support and resistance on longer timeframes in to account. I.E never a good idea to trade around big numbers, proven levels of daily support and resistance and of course news.


I look forward to any questions or feedback anyone may have regarding the system. It has been with me for a long time so be nice

Finally i am active on skype and would be more than happy to help anyone who requires any further assistance, add: fxsystem32.

System32

[quote=system32;5533308]Hello, this is the first time I have shared my system on the forex factory forum. Please feel free to have a look. I am about to make a bold claim here, this system does and will work if used properly. Please feel free to get in touch if you need any assistance. It is important that everyone has a good working knowledge of money management and has at least has a working knowlege of the markets. The system is only a part of making money and keeping it.

Please download the .zip file which contains the custom indicator and the template files.

If you need instructions on how and where to save your indicator and template files then search you tube for "Urban Forex Metatrader 4 Tutorials Adding Indicators and Templates "

Attachment

If your chart looks like mine then it has all worked well. I will do my best to give a crystal clear explanation of exactly how we trade the system and the entry and exit rules.

--------------------------------------------------------------

Firstly please take a minute to inspect your charts to ensure they look like my screen shot. Now have a look and see how the indicators react to desirable movements in the markets. On every trade we are looking for several things to happen.

Attachment

As you can see above I have highlighted a single trade at random, you should be able to see all indicators giving a clear sell signal at the time the grey arrow appears. We can tell this is a signal for a short position in several ways.

RULE 1: The 100MA (blue) is heading in the direction of the indication.

RULE 2: The indicators in the indicator window are all showing an overbought position, they are ALL squeezed to above the 80 line on the vertical scale, in fact they are squeezed so tightly they all appear to be one line.

RULE 3: Never enter a trade until the current candle has closed. So in this instance the grey arrow indicates a short position opening up, this means we will wait for that candle to close and we will only enter when the price drops below the low of the candle to trigger the signal.

The beauty of a system that is this visual is that you can instantly decide if the chart you are looking at has any potential for profit via these indications. It is very important to remember that any system will pick up every trade that may yield profit, it was my aim to find maybe 1-2 trades per week per chart via this principal and to be sure that if everything lines up correctly then I have a mighty fine chance of taking a few pips out. The exit signal can be determined when an opposing arrow appears but this does not mean that you should ever reverse a trade unless it fulfils the requirements of rule 1,2&3.

Please research money management skills if needed, close parts of each trade at certain points and constantly adjust the stops to ensure that I attain a 0% risk position as soon as possible without suffocating the trade and then I bring the stop loss in to profit gradually, closing portions of the trade as I go. Other money management techniques work just as well too, this is just my preferred option.

If anyone has any questions or would like some live demo time just let me know.

It is more important to know when not to trade, i judge this in 3 ways. Firstly if the 50MA is flat or opposing the indication then personally i leave it. If the bollinger bands in the indicator window look really messy then generally speaking the market will be in consolidation and not worth the risk. Finally you will need to take the major levels of support and resistance on longer timeframes in to account. I.E never a good idea to trade around big numbers, proven levels of daily support and resistance and of course news.

I look forward to any questions or feedback anyone may have regarding the system. It has been with me for a long time so be nice

Finally i am active on skype and would be more than happy to help anyone who requires any further assistance, add: fxsystem32.

System32

cant download this. please provide alternative manual settings / indicators. custom mt4 indis that can be used instead...

sorry you are having trouble downloading, the problem should now be resolved.

hi system

the problem is with my laptop to be honest. i cannot download templates. that is why i asked if you had alternatives to your custom indis. manual settings on mt4 that can be used instead...

cheers

ah i see, the indi's are custom and i don't have the settings to send you. If you can think of a way round the issue then let me know. Im happy to email it over but im guessing you would still have the same problem with downloading?

are you familiar with the MT4 folders? you might be putting them in the wrong place - there are 2 locations for templates, 1 in the general MT4 file and 1 under the experts folder, you should be using the first 1 i.e C;program filesmt4templates, depending on how you installed the software.

What TF are you using? (its too small to see on your screenshots)

Cheers

GG

Personally i use the 1hr and sometimes the 4hr. Although other users of this system have had good results on most timeframes, i would suggest 15min as the smallest.

Money Management

A small disclaimer - this is only how I trade and I am no way in the business of influencing others with their money management rules.

Firstly I will NEVER expose more than 3% of my total trading account at ANY one time. This is very important no matter how sure you may be that a trade will go your way. This means that a bad day can never be worse than a good day is good.

For the sake of argument I will be using 1.0 lots to explain how I trade on the 1hr time frames. This is where the "Plan the trade and trade the plan" comes in. I will pick 3 targets, based on previous levels of support/resistance and trend lines.

Trade 1 - opened with 1.0 lots with a variable stop loss normally between 35 and 60 pips.

At Target 1 - I will close out 50% or 0.5 of the trade and move stop loss to break even if possible.

At Target 2 - I will close another 50% or 0.25 of the remaining lot leaving 0.25 still open and move stop to Target 1.

At Target 3 - I will close out the majority of the remaining lot leaving 0.05 open and move stop to Target 2.

With the remaing 0.05 lot I will pick a long term target maybe 300 pips or so, knowing the stop loss is in profit if it does retrace.

This is how I manage most of my trades and its a good model for keeping the risk to a minimum and locking in the profits on a regular basis.

Hope this helps http://forums.babypips.com/images/sm...yahoo/cool.gif

Hi u spoke about the 100 MA but in the temp u gave its set to 50, so which is it ,100 or 50 ? thanks, nice work.

Thanks for bringing that up. It should be the 100MA. Sorry for any confusion.

thanks for the ideas, system32!

your welcome.

Just really like how the charts are so uncluttered and unencumbered....very easy on the eyes and almost idiot proof.......banked 80 pips on audusd last nite, used these charts for confirmation......

Nice work S32. Made some adjustments according to my own personal
style and MM but your system is a winner for those who want to give it some attention.

really good to hear some positive feedback, this system has been with me for a long time and done me well over the years. I think it is important to alter it to suit your own style as 'Slim Buffett' has done.

Feel free to post your adjustments for the benefit of others.

Some of you may have noticed the nice short thrown up by the system this morning on the cable and eur/usd especially on the 1hr, and if the 4hr chart threw a short signal 2 days ago which should have reaped around 150 points conservatively. Not a bad week so far.

This is a screenshot of this mornings short sitting around +45 pips, i have taken some profit and moves stops to breakeven.

This screenshot was a trade i took back in feb. It netted over 410 pips from a long position. You can quite clearly see a very strong signal highlighted in yellow on a 4hr chart of the USD/JPY.

The best exit was when an opposing signal was given.

Hi System32
Thanks for the system. I wonder if you can help me. I understand all of the rules for taking a trade except for the squeezing of the indicators in the overbought/oversold areas.
As in your hourly chart the indicators were not squeezed. I guess they were in the overbought zone - so would this be a sufficient trigger and therefore if you get a squeezing then its an even better signal.

Thanks again
heath

The 100 MA was not in agreement, why did you take the trade?