Symphonie Trader System

U like me at the first time use this system.
beside follow the signal of SEFC u should draw the trendline, supprt like I draw. Don't blindy do follow the signal from system. U must know what are u doing, what are u waiting for.
- A is perfect
- at B u will see, full signal but price not break the support.
- At C u will see, full signal but not break the trendline.

By - Gary Sharp

In a world where everyone is obsessed with preparing for the worst, there seems to be little time dedicated to the subject of preparing for success. Of course we need to protect against capital loss and financial failure, but once we have appropriate measures in place to limit risk and to exit a trade quickly if price action moves against us, it is time to focus on what to do with profit.

And let’s be totally honest and open about this. Yes, there are plenty of traders out there making regular profits, but that does not automatically guarantee success. Profit is one thing. What you do with profit is something else.

After spending 16 years building and operating my own companies, and interacting with countless others, I can assure you that profitable businesses regularly go belly-up for much the same reason as those that make trading losses. That is, a lack of financial management.

All the profit in the world is useless if it is tied up in stock and debtors, and not available to meet financial obligations as and when those obligations fall due. Likewise, a business has no chance of growing and realizing its full potential if its owners drain it of cash and neglect to accumulate capital to fund future growth.

If you are a reasonably successful trader with a solid history of profitable trades, but you don’t seem to be making progress financially, it is almost certain that you lack a clear and precise plan for managing profits. If you cannot answer the following questions you don’t have a money management plan:

· When should you begin making profit withdrawals from your trading account?
· How do you continue to grow your capital base whilst enjoying the fruits of success along the way?
· How much capital is enough to sustain you long-term?
· How much do you need to earn from your trading activities to become financially independent?
· Do you even know where financial independence is for you? Do you know when you have arrived?

WHEN TO BEGIN PROFIT WITHDRAWALS

In order to build up future income potential it is important to accumulate profits and grow your initial start-up capital. So don’t be impatient. Allow sufficient time to grow your capital to the point where it is able to sustain your lifestyle and meet your financial objectives.

But it is also important to take rewards along the way, and to enjoy the fruits of success. This requires finding a balance between capital growth and withdrawal of profits. Personally, I achieve this by following a simple and easy to apply management plan that I have outlined below.

Your first goal is to take back your initial investment, thus reducing risk to zero. If you start with, say, $500 capital, let it grow to $1,000 and then withdraw your $500 start-up capital. You now have your initial $500 back in your pocket, you are 100% risk free, and you have made a 100% gain to date.

From this point forward, every time you triple your account balance, you withdraw one-third. So, $500 triples to $1,500 and a $500 withdrawal is made. You now have $1,000 in your account and another $500 in your pocket. Your $1,000 triples to $3,000 and a $1,000 withdrawal is made. You now have $2,000 in your account and another $1,000 in your pocket. This triples to $6,000 and a $2,000 withdrawal is made, so you now have $4,000 in your account, and you have put another $2,000 in your pocket.

With each cycle you increase your capital, which in turn accelerates future earnings. The timeframe between each cycle is therefore reduced, whilst the returns from each cycle are increased. Repeating the above cycle just three more times will result in $48,000 capital, and a $16,000 withdrawal.

You see? Nothing complicated about this simple money management plan, and you can begin applying it today without any formal training whatsoever.

WHEN TO CEASE CAPITAL ACCUMULATION

Somewhere along the way you are going to have to thoroughly explore your current living expenses, your discretionary spending on things like entertainment, travel, and the other vocational activities that make up your lifestyle, and consider your long-term financial objectives.

A practical and realistic starting point is the current household budget. You must identify each expenditure that must be met, like rent/mortgage, utility bills, telephone, food, insurances, vehicle operating costs, school fees, health, and all those other items that must be met in order to simply maintain your current living standards. It is important to include even the basics like your daily bread, milk, and newspaper, so that an accurate cost base can be established.

Repeat this process with discretionary items. Remember, it is important to capture everything, so please give this adequate time to build a complete picture. This exercise is not about cutting corners, but rather, it is about maintaining your chosen lifestyle.

Finally, give due consideration to your current financial objectives. This might include paying off the mortgage early, clearing credit card debt, building a share portfolio, property investment, or simply building a cash reserve on which to fall back on in the event of crisis. You need to convert this into a weekly sum that is set aside to meet your financial objectives. Whatever your financial objectives, keep to what you already have in mind. That is, do not increase your existing expectations at this point in time. Remember, we are simply trying to establish exactly where you are up to right now in terms of what you have, and what you plan for the future.

Combining your household budget, discretionary spending, and financial objectives, will provide you with a benchmark. This benchmark represents the income you need each week, month, or year, to meet household expenditure, discretionary spending, and financial objectives. You are currently covering these items through the income you earn from employment, but our goal is to cover these items through income derived from trading. When we reach this point and sustain it, you are financially independent.

So how much income do you need each month to become financially independent? What is the monthly combined total of household expenditures, discretionary spending, and contributions towards your financial objectives?

Let’s assume for demonstration purposes that you need $10,000 each month. And let’s further assume that your trading activities are producing an average 20% monthly return on capital. Based on this, how much capital must you accumulate in order to meet your $10,000 per month income objective?

$10,000 / 20 x 100 = $50,000

By simply dividing monthly income by monthly return, and multiplying the result by 100, we have determined that $50,000 capital is required to earn $10,000 per month. You can apply this simple formula if you know: (1) Monthly income needs, and (2) average monthly return from trading.

You can easily calculate your monthly income needs, and you can determine the average monthly return on trading activities by reviewing your past trading results, or looking at the results of a Trade Mirror service such as myfxpt.com.

With this information you can easily determine at which point you have accumulated sufficient capital to meet your needs, and at which point you can cease the capital accumulation phase.

WHERE TO FROM HERE?

Here comes the fun part. For every $1,000 you accumulate beyond your $50,000 minimum required capital, you will earn $200 per month. Add $10,000 to your capital, and you add $2,000 extra income per month. Add $20,000 and you earn an extra $4,000 per month.

You are now in a position to get serious about your future income. For example, simply delaying drawings for two months will add $22,000 to your capital base, which in turn adds $4,400 to future monthly income. Or, take a part drawing of $5,000 per month for four months, and you will still add around $22,000 to your capital base. Or, take no drawings for four months, and add over $40,000 to capital…giving you the potential to earn an extra $8,000 per month. You are now in full control of future potential income.

PASSIVE INCOME

There is much talk about passive income. That is, income you earn without doing anything in return. For example, interest earnings, share dividends, rental income, capital appreciation on shares and property, even affiliate programs and MLM systems, all fall into the category of passive income.

None of the above, however, can take you to financial independence as quickly as a leveraged trading arena can do, and with so little effort in return.

There is high risk, of course, and that is why you must withdraw your start-up capital as soon as possible. In addition, it is important to regularly withdraw rewards along the way to provide a liquid net return on capital. But it is also crucial to build your capital base to ensure ever-increasing future income potential.

This profit management strategy achieves these objectives. It returns original start-up capital to you, whilst retaining an equivalent amount of capital in your trading account. It then allows capital to triple, whilst providing for a one-third reward along the way. And finally, it gives you the opportunity and the means to reach the optimum capital required to meet your ongoing financial objectives both present, and future.

Thank you, and you shall see me in the green again next week ;-)

I hope you make it back, but there seems to be about five people on this whole thread who are consistently profitable. i've backtested till i'm blue in the face and nothing seems to work. Guess I better stick to letting the ea's handle it.

I think you'll find there are a lot more people than 5 that are consistently profitable they just don't post a lot but I get a lot of pms from people that are following it. I'd be interested to see what you're actually looking for in your backtesting, and what timeframes.

Daytrader will make it back because if you look at his actual daily closed trades on myfxbook he makes a lot of pips and a high percentage of growth. His mistake was holding onto some trades that he shouldn't have done (in hindsight) but thats not the symphonie way of doing it anyway, so of course he will make it back.

Ohammond & all,

Thanks for your posts; they are very informative. I've been studying this method for a few days, but a have a follow-up question for you. My only time to trade lower TF charts is during the first few hours of the Asian market.

Is the market too quite to trade this method in the Asian market? Would the lower volatility cause more SL to be hit? Finally, for those who are very successful with this Symphonie, do you do well in the Asian market?

Thanks for your replies,

John

So i've traded the symphonie system live for a month now. I started with $100 and now I have $163. I'm very happy with my results.

Thats 63% an excellent achievement, well done

I don't generally trade the Asian markets on the lower timeframes but I know RJ has and still does quite well so he would be the best person to advise you I think.

I did a search on 'Asian market' and found that RJ stated that "...the beginning of the Asian session which is a time of day when high probability trades are rare. ".
Also, in the second link below he posted, "Asian markets can be good, but it's a bit like watching grass grow sometimes!!"

So, unless someone else has a different experience, trading the Asian market with this method may not be wise.

http://www.forexfactory.com/showthre...37#post5649837

http://www.forexfactory.com/showthre...62#post5700662

I always watch the Asian markets and if a trade happens along, I will take it. Generally, I find that after Tokyo open, if a trade doesn't come along in the first couple of hours, then it's probably not going to happen.

Having said that, some of the moves that last the whole day long, begin during Tokyo market.

It's one of those things that I will watch, but if I can't because I'm busy with something else, I don't worry about it. If a move comes along and I see it, great......if not in the first couple of hours, then I will wait for Frankie or London open.

Asian trades are a bonus.....not a main event...imo

Well actually not only holding onto some trades, the other reason as well is that I don't follow the money management rules on post one either and that sometimes exposes me to a large draw-down.

Money management has been an issue for me, I make great trades with Symphonie and take a lot of green pips off the table but I also expose myself to a large number of trades and therefore risk the dreaded margin call happening. I usually have up to 6-9 positions open at the same time, I have made a promise to myself not to have more than 3 positions open at the same time anymore.

Are You a Forex Trader or a Gambler?

You might be treating the forex market like your own personal casino right now and not even know it. In fact, if you are like many people trading the forex market, you are probably more of a gambler than a trader. Traders who fail at making money consistently in the market have a gamblers mindset; they do not have the professional mindset and habits that consistently profitable traders have. How do you know if you are approaching the market like it is a casino or like it is a business? This article will answer this question for you and it will give you some insight into how professional traders think and act, it will also discuss how price action trading can foster a professional trading mindset.

• Are YOU a forex gambler?

There are basically two types of people trading the forex market at any given time; people who are gambling with their money, and professional traders who treat forex trading like a business. As you probably could guess, the gambling traders are the ones who lose money; the professional traders are the ones who make money.

In order to determine whether or not you are a gambler in the forex market, let’s discuss some of the most common characteristics of gamblers, if you are shocked at how many apply to you there is no need to worry; this article is the first step in changing your mindset from that of a gambler to that of a professional trader.

• Characteristics of gamblers…

Gamblers are addicts; they are people who do the same thing over and over just to get a euphoric “high”, even if it hurts them or loved ones. Gamblers think of a trip to the casino as a non-professional event, they view it as a hobby, or as something to do with their free time.

Unfortunately, this “hobby” often turns into an addiction, one that can cost thousands of dollars to sustain. Gamblers become addicted to the “hope” of gambling, this is why they keep losing and don't change their habits, they put more and more money into their gambling addiction, sometimes even funding it on credit.

Gamblers believe they are always “one away” from that next big jackpot or that next lucky card, so they continue to throw more money on the table, convinced that it will all be worth it in the end, because they think they will ultimately just make back everything they have lost and much more.

Typically, what happens to most gamblers is that they lose so much money they eventually snap out of their haze and walk away much poorer, or some sort of intervention is required to wake them up to the reality of what they are doing. Now, we aren’t talking about a once a year trip to the casino here, we are talking about a full-fledge gambling addiction.

Unfortunately, many traders treat their forex trading activities exactly like a gambler would. Many forex traders become addicted to the feeling of “hope”, essentially they become addicted to the feeling of getting rich or that the next “big one” is right around the corner. This causes them to behave like they are a gambling addict in a casino; pumping increasing amounts of money into their trading accounts, risking random amounts with no money management plan, meddling in trades after they are live for no good reason, chasing the market, and a whole host other addictive trading errors.

Traders who are addicted to trading get too much enjoyment out of it. Even when they are losing money they are thinking about ways to “make it back”, or how this is just a temporary set-back and so they immediately begin looking for another setup to trade. For traders who treat the market like a casino, reality becomes a thing of the past, they enter into a sick world of over-trading and over-leveraging their accounts because they are operating purely on greed and hope, all the while ignoring the true reality of the risk involved on every trade. Gambling addicts in a casino think and act exactly like forex trading addicts do while in the comfort of their own homes, it is the habits and mindset of a professional trader that separates him or her from a forex gambler. Let’s now discuss how a professional looks at the market and how you can begin to change your gambling mindset and habits.

• Professional forex traders…

In order to become a professional forex trader, you must begin a transition from gambler to professional, this transition will begin in your mind and it will direct you in creating a different reality which will include positive trading habits that will work to reinforce your professional trader mindset.

In order to begin thinking like a professional trader you must think about trading as a business, and just like any business you must understand there is risk involved, real risk, you must figure out a way to compensate for this risk that doesn’t involve running your costs up so high you cannot operate the business anymore. In the mind of a professional forex trader, money management is the way to manage one’s risk. Correctly understanding and implementing risk reward strategies is the way professional traders compensate for the risk involved in any trade, combined with a refined sense of patience when selecting trades.

Professional traders typically get very little enjoyment out of entering or exiting a trade because they encounter very few, if any, surprising moments in the market like gamblers do, this is because professional traders know what they are going to do in the market before they do it, in other words, they have a forex trading plan. The fact that professional traders have mastered their forex trading strategy, means they don’t lose money and then seek to immediately trade to make it back, they are confident in their trading strategy and they rely on the long-term edge to recover any short-term losses. Professional traders trade only a small basket of major currency pairs and only a few reliable setups. Patience and precision are the tools that a professional trader employs each time they interact with the market, in comparison, gambling traders take random shots in the dark with a very limited supply of ammo; they do this because it makes them feel good, and it gives them their trading “fix”.

• What you can do now…

Here are a few things you can begin doing immediately to begin the transition from being a gambler into thinking and acting like a professional trader:

• Be realistic about how much money you can make given the amount you have at your disposal to trade with. Don’t put unrealistic expectations on yourself and you will be far less likely to over-trade or over-leverage your account. Make sure you can sleep soundly at night with the amount of money you have at risk on a trade.

• Begin thinking about the forex market as an arena for self-improvement. Understand that the degree to which you have limited or no control over your own behavior and emotion, will be the degree to which you lose money in the market. The more you operate on logic and pre-emption, the more likely you are to make consistent money in the market. You will likely notice a shift in your daily behavior and mental state in all your activities and relationships, not just with trading, when you become more emotionally controlled and self-aware.

• Start keeping a trading journal, record all aspects of your trades before and after you enter them. All businesses must track their expenses and manage their daily activities, having a tangible trading journal that you force yourself to keep up-to-date is an excellent way to keep yourself accountable and to keep your mind focused like a business person instead of a gambler.

• Model yourself after successful people…

Following the forex trading strategies and the mindset of a professional trader can help you greatly in making the transition from gambler to professional trader. Professional traders are much simpler than what many beginning or gambling traders might assume; if you walked into a pro trader's office, you would not find any complex indicator-laden trading systems. The reasoning for this is simple; the industry hype is overrated and does not work, people sell trading systems that don’t work and that are over-complicated because they are not professional traders. I teach plain vanilla price action strategies to my students because it has brought me many years of stress-free profitable trading, and I know that by adopting my professional trading strategies and way of thinking, you too can become a profitable trader. If after reading this article you KNOW that you are stuck in a cycle of gambling and trading for pleasure, then it’s time to make a shift in order to profit, after all, you cannot expect different results if you don’t change what you are doing.

Author Bio: Nial Fuller.

Hello to all. First at all I wanted to thank Evaluator for good trading system. I am very surprised, why nobody discussing a trading on Daily charts? If anyone does, what are your TP and SL? Do you use settings from 1 post?
Here what I do, when I trade on D1 charts:
1. My settings are the same as in post 1
2. I use trailing with this system. Trailing Stop = Average daily range * 1.3 and Trailing Step = Prev 20 day * 0.7
3. Currently I am trying to apply Price Action to this sytem.
4. Exit from the trade: I wait when Extreme and Trend indicators line change their color.

The way I do it is to never have more that 2 positions open at any one time unless the previous trades are protected by a SL in profit....no matter how small.

So once 2 trades have the SL set at break even, I am free to open another 1 or 2 two trades. I could have 8 trades open at the same time, but only 2 would ever be not in profit.....

Hi everyone. I have been watching this thread for sometime now really like what is happening here.

I am finally ready to get started so I just wanted to make certain that I have got everything correct. This is what I have done -

1. Downloaded and installed MT4 from FXPro
2. Downloaded and installed the Symphonie v3.0 Paket.zip from Post #1
3. Opened 2 charts (EURJPY and AUDUSD both M5) and applied the Symphonie matrix v3.0 template to each

I am currently on demo for now and opened an account with $1000 because this is what I have to start my real account.

Because I have $1000 in the account, my trades will 0.1 lots.

And this is what I will be doing -
1. Watch my charts for when all 4 of the right most boxes turn red or blue
2. When this happens I get my trade ready to go and wait for the candle to close
3. When it closes and the 2nd to last right most boxes have stayed red or blue, I push the button
4. Now that I am in a trade, I first place a 30pip stoploss and then start watching the top right most box for when it changes color
5. If it changes color I then wait for that candle to close and if it remains changed for 3 candles (ie I now have 4 boxes in the top row of the changed color), I close my trade. This is my understanding of exit strategy 1

Do I have everything correct?

Hello my friend.

is it fate that we see us again? no, it is about my statement, which was true all the time.
now your floating DD was 3100 pip and you was not comfortable any more with your positions.
i wish you for the future that you were gaining pips again without such high risk and without hoping for return of positions into green.
don'T lie to yourself and let your mindset think successful, but i will not teach here what is best for you. you did experience it now the second time. but all things best are three.

good business to you my friend

good success.

Mediator please do not talk about Daytrader74 and his trading.

You might get dear Olivia getting her knickers in a twist again.

Ok, i'll respect your wish, cause i don't want someones underwear twisted.