Symphonie Trader System

The German IFO Business Confidence survey was all it took and the EURUSD surges outside of the consolidation area breaking the range wedge. This now changes the dynamics of the pattern and brings into focus the flat triangle as I feared a few days ago that touch point 4 would not reach the bottom and would dies because of continued STRONG support at the 1.30600 level.

This has now played out and I look to see the EURUSD now move to complete the expanding triange with a move to the 1.38054 level. Looking to some big rallies in the EURUSD short term next week.

Also, as you can see Symphonie told us that this was heading up before the actual break. I hope everyone was able to profit.

Evaluator.:nerd:

I didn't trade the EU last night because I wasn't too sure about what was going to happen but now I'm pretty bullish on the pair for next week.. daily close could produce a full symphony signal so next week could see some major up moves..

cheers everyone have a good weekend!

We'll be looking for it tehno.

+22.94% for the week.

http://www.myfxbook.com/members/Ozpips/ozpips/276991

Have a great weekend everyone, I'm going fishing!

Congrats with all your pips.

I really like read all your comments here.
I learn a lot from you, so keep up the great work.

And have a nice weekend.

fratelli

Keep up the good work tehnobyte, can't wait to see how this new matrix performs.

Thanks you too!!

Everyone should have a nice relaxing weekend away from charts so we can mentally regroup and be ready when the market plays its hands next week

What kind of stop do you use?

Seems like a lot of drawdown.

He has his own exits which are his own business but his entries are all symphonie.

Well if any one is thinking that for the euro this will be easy to reach the level of the 38xx i think it will be hard , but still the fear of the debt crisis , though Germany get the some positive data , it can not help other 25 countries

I don't care much about darwdown as I'm holding on to some trades for the longer term and earning good swaps on them. All my entries are taken with Symphonie.

The following is a very interesting read by LazyPawn - If only there was a "LIKE" button! lol

The life of a trading system on Forex Factory
I became a member of the forum 7 years ago. As a beginner I spent most of the first 2 years studying various trading systems posted here, using some of them on demo accounts and (unfortunately) a few on my live account. Eventually I created two of my own which I still use with little modifications up to this day. However, the old hobby is not dead. I still test almost everything. Occasionally I find a new idea, an interesting indicator, even a good system that can be made profitable with some adjustments.

But the really fun part is to follow what happens to such systems over the months and years that follow the initial post. They have a life of their own and seem to follow the same path, over and over again. Hundreds of systems, thousands upon thousands of posters and posts … and nothing ever changes. To me their evolution is now more than predictable and I’m sure there are many others who have noticed the same patterns.

1. Here’s my holy grail! The OP tells us a bit about himself, the rules of the system, some charts carefully chosen with entries/exits that worked great. He informs us that he’s been very successful using the system.
2. The fan club is created! The first people who post are those who have a few winning trades using the rules originally posted. They become groupies and whatever happens in the future they will defend the system even when it’s obviously failing miserably.
3. The newbies are here! People who know virtually nothing about trading, Metatrader or indicators start asking questions such as “where do I put the mq4 and tpl files?” … “how many lots should I enter?” … “what time is it here in <insert place> when London opens?” … “does this work without a stop loss?” and so on.
4. You’re a legend Sir! Following the beautiful charts with a bunch of winning trades and the very wise answers given to the questions asked by the army of beginners the OP gains the unofficial title of super-trader. The number of posts grows exponentially. Everybody is happy, doubling the account is around the corner, and from there it’s just a matter of months until making it to Forbes.
5. We need more indicators! Market conditions change and the system loses money a few days in a row. Clearly it has to be adjusted. How? By adding more indicators to filter out the bad trades. It’s very easy, isn’t it? Just add something that would have kept one out of the last losing trade. It doesn’t matter that the very same filter would also prevent one from taking many of the trades that turned out to be winners. Nobody bothers to backtest this. So … let’s add the stochastic … the 200 EMA … examine the higher time frame … check the daily range … put the Renko bars to smooth it … the TDI works best … I would add the Bollinger bands …
6. The system's are here! Since everybody is now euphorically adding indicators and rules we no longer have one system. We have anywhere from 3 to 10 versions of the system, some of which having in fact very little in common with the original rules.
7. Chaos reigns supreme! With all those new additions and people posting like crazy charts and results using different setups nobody knows exactly what's going on. The thread is full of requests like “can anyone point me to the latest official version of the system?”
8. We need them robots! Now that we know how great the system is it's time to ask some great coders to make an EA. Which version of the rules should he use? We can try a few … maybe one will work.
9. Nah … dem robotz no good! The EA is losing because we humans can see and feel things about trading … it comes with experience. So let's forget EA results, forget back testing, and let’s just trust the thousands of pips reported by the groupies. The system must be good, no doubt!
10. It’s just that little thing left to do! After a while, noticing that a large number of people posting in the thread get mixed or even bad results, someone has an epiphany. All we need to make the system really great is an indicator or something to tell us if the market is trending or ranging. But not yesterday or last week or last hour. What is it GOING to do next?
11. It works for me! So we are left with the OP and his early followers claiming that the system works beautifully, they all make thousands of pips each week. We have a few others who claim that it's losing big time and others get so-so results. And the vast majority still keeps trying to find that extra indicator that will make the system perfect.
12. There's a new kid in town! A few months later most people left the building. Even the OP most of the times. Nobody knows why. Have they become so incredibly rich that posting on FF is no longer interesting? Or maybe the system is not so good after all? But hey … who cares? Did you see that new system? That one is really great!

Can you post your myfxbook to see those great results your having please?

Wasn't an attack of any sort, don't get me wrong. Just trying to learn as much as possible on the style of successful symphonie traders.

I use an hard stop at 75 pips trading H1 signals only.

I enter also on h1 arrow if we have 3 signals in the matrix in agreement and full agreement on a lower time frame, for that I check m15. The arrow trades are taken more as scalps, and if the full matrix switches to agreement while still in the trade I add to the position.

No worries. I trade both long and short time frames so those open trades that I have in my account are for the longer term and they were taken using 4H-1D charts and based on Symphonie signal. I use different methods for my exists...pivots, support and resistance and a few other methods as well. How have your results been so far trading with Symphonie?

Pretty damn good. Up 523 pips for the week. At the end of the month I'll trade bigger lot size switching from my old method to symphonie. ( both work well but symphonie requires much less babysitting )

Very good results. Do you have a myfxbook account to show your results?

No I might set one up later when I trade pure symphonie.

http://www.myfxbook.com/members/Dyekid217/mt4-11123/289757

please excuse the drawdown.. this drawdown occured before learning symphony. I've just had the account for a while. Symphony has let me recooperate from my losses in a short period.

only the past 3-4 weeks have been consistent winning .. its not the best record but I am going to open a new account to start fresh with trades only using symphony.. I will most likely be switching brokers at the end of this month

averaging 10% a week this month.. I realize I should start fresh and see what I can do with it.. went from -$400 to +$300 in 3 weeks.. not too bad. Now I just need to keep the ball moving

What sort of stop loss do you generally have on your scalps?