The Spartan Trader FX System

My Name is Nikos Mermigas and I am trading financial markets (forex, stocks, metals) since 1999. I did not have much time to write in a forum in the past, but I will try to do my best. I will soon explain my trading system (Spartantraderfx system) and add all entry and exit rules as well as risk management rules in much detail. The spartanfx system is easy and simple to apply if you get the hang of it. Like always, when it comes to trading...you need to practice to master it. I will also share live trades, charts with comments, trading journals & trading plans for day traders, swing traders and scalpers plus some live videos (if that is allowed here) with you guys!


The goal of any successful trader is to make profits over the long run and he/she should not expect to win each and every trade. If you can accept that, you might be interested to what I have to say.
Thanks for taking the time to read this!

Happy & Healthy Trading

Nikos Mermigas

just waiting in the sidelines

Looking forward to seeing your system.

Go Nik. We're ready.

I would like to get in contact with any SpartanFX Traders who live on the east coast of Australia (preferably in Canberra or somewhere within a few hundred kilometres of Canberra) with the view to meet up to discuss our respective experiences with trading the SpartanFX system. I am keen to understand how someone else has interpreted the approach that Nik has shared and what success other traders have managed to achieve with trading the SpartanFX system.

My FF profile gives a little background on my trading experience and current trading focus. I found out about SpartanFX in late 2015 and was immediately intrigued about its potential so I have been refining my approach since then and now want to share my experiences with other traders who focus primarily on SpartanFX to find out what I can improve upon what I am already doing. I primarily focus on looking for spartan setups on the D1 timeframe and using H4 to refine my entries.

Are there any Spartan 123 traders outside Australia who would be interested in collaborating with me to improve our respective trading results?

Not got much screen time today but just thought I'd post this long setup on AUDJPY. I'll reply to the PM later if I get a chance GregT



H4 showed a 12/36 crossover to the up with the price bouncing off these as support. However it wasn't as good a setup as it could have been, overall trend on the H4 (according to 200 & 633 EMA) was down although it seems to be ranging since May 5. With plenty space to the upside in terms of range highs & 200EMA resistance I went for it.

Things I could/should have done better:

- Picked a pair where the 6pip renko chart trend was in agreement with the H4.
- Better MM, as I'm just practicing getting the correct entries I only placed 1 trade (as opposed to the multiple suggested by Nikos). As it was I let it run and closed it at +99 pips (on the chart this is just before the price levels out before continuation of the uptrend. Had I employed the correct MM I would have locked in profit early and let the remainder run - hopefully right up to around about 79.600.

Good to see someone else here looking to discuss how they trade the spartan approach. I agree that AJ H4 bias is downwards, so I would only be looking for a short trade setup, which is not currently in place. Good outcome for you to get the profit.

Why do you use a M24 timeframe chart?

I have found that using MT4 to try and enter 3 orders when I want to trade a spartan setup, takes a little time, so I apply the following approach to achieve the same outcome:
1) decide how many total positions I want to enter for each trade (I use the position size calculator at http://www.myfxbook.com/forex-calculators/position-size to risk up to 5% of my account on a single trade)
2) set 1 trade order or market entry order equal to this total position size
3) Calculate the 1xrisk (1R) and 2xrisk (2R) values (I use the MT4 Fibonacci Expansion tool to plot this visually on my chart - see attached screenshot)
4) When price reaches the 1R level, I exit 33% of my trade to lock in profit (My broker - Go Markets - provides the "MT4 Genesis" tool, that allows me to make partial exits, but I can only achieve this if I am sitting at my desktop computer, not on a smartphone)
5) When price reaches 2R level I exit another 33% and tighten my Stop Loss for the remaining 33% and let that final portion run with price action

Yes, this approach does mean that I sometimes miss the profit taking opportunity at 1R and 2R if I am asleep, and as you would expect, a number of times when I do miss the exit, price reverses and I lose the profit opportunity; however, overall, this approach makes it easier for me to enter the trade.

I was playing about with the settings and wanted to see if changing this number affected the visualization of the chart but it didn't. I think it must be how mt4 names the offline chart in the 'open offline' folder.

That position size calculator is going to be invaluable to me, I always struggle working it out. Thanks for that. I like the sound of the ability to partially close rather than opening 3 positions, I'll see if my broker offers anything similar. I've tried swiss army ea for position management but can't get the settings figured out.

Been looking at the charts trying to build up an overview of the big picture using the top-down approach - below is what I have interpreted as the 'big picture' with GBPCHF. I'm aware that the brain tends to highlight confirmation and ignore contradictions so if there's anything not right please point it out.


Weekly - price seems to be moving within a range, most recently has moved to the lower bound and retraced to a previous levels of support and resistance. 12/36 crossover down. Will it continue down with the classic 123 setup?


Daily - 12/36 cross up, 2 123s formed in uptred (which is really 2-3 retracement of weekly downtrend 123). Price has bounced off 633 EMA and retraced to 36 EMA.


H4 - Double top followed by 12/36 crossover, price retraced to the region of the 633 & 200, bounced off then continued down and through 200 & 633.


What's going on? With the trendline break on the H4 & daily charts it looks like the price has finished it's retracement with regards to the downwards 123 setup on the weekly chart & should continue down to significant support (one just below the price at around 1.41000 and then bottom of range (1.34000 without down spikes).

Possible entries - Cautious long: Wait for 2-3 line break on daily chart for entry into uptrend targeting resistance at 633EMA
Short: Price has already broken trendline on H1, H4 & D1 for 'aggressive' entry. Better entry - wait for H4 retracement to 36EMA and then break of 2-3 line. Even more cautious - wait for 12/36 crossover, 123 short setup on Daily chart & break of resistance at about 1.41000.

My thoughts re GChf chart:

WK - Price is making its first return to 36eMA since 12/36 Xover back in Jan16 and forming currently at what looks to be a point 3. I think your lower bound is not relevant but I do see an S-level around 1.2820 that I would be watching.

D1 - definitely a Sloping TL (STL) break short and price has open/closed bleow D1 200, so I am thinking to wait until a new short setup emerges given I am thinking WK is at Point 3 for a short bias.

H4 - I am not even interested in H4 yet as D1 is not showing pullback signs yet

Entry potential - I am NOT thinking long at this time. Wait for pullback on D1 towards 12eMA then go looking for spartan setup on H4 36eMA.

Hi Greg,

I'm a Spartan trader as well and if you are still looking to work together let me know.

I usually trade London and NY and beginning of Asian. Yeah I don't sleep much lol

I would be great if FlipFlop4 joins us as well.

Let me know guys.

Cheers.
Zak

Terrific Zak. Feel free to post anything related to Spartan in this thread and we will respond accordingly. I work part time but am usually home as London is opening. I am currently trading EURJPY (EJ) short and EURCHF (EChf) short and hoping price on both will soon drop away from the current retouch of the H1 36eMA so I can add in some more positions. I am also about to enter EURNZD (EN) short based on a H4 spartan setup

The EChf did not work out as price hit my trailing SL but I took a small profit - see attached screenshot


I am still in the EJ and EN


I use the Forex Factory Trade Explorer tool to track my trades, share what I am trading and to provide these screenshots. Very useful to assist me analyse any lessons from losing trades

I am doubtful that the Spartan strategy will be reliable this week given the potential for volatility from the Brexit vote.

I have exited all the trades I had last week that showed no momentum (momo) and just retained a small position in EJ short after taking a 17% profit from EJ last Friday (the vertical line in the chart below shows when I entered)

I feel I am seeing spartan setups forming on the following pairs:
1) EChf short - has this already formed on H4 and I have missed the optimum entry ?
2) GChf short - I can see point 3 formed on H4 now (sell market order on Monday is likely)
3) GJ short - waiting for point 3 to form on H4 then price to drop before I enter

Any thoughts? Disagreements? Other pairs setting up?

Interesting experience watching the price movement once the UK referendum vote count got underway. I found that the spartan strategy could be used on the M5 chart with a trailing SL (TSL) to lock in profits in between the volatility spikes. I used a 40 pip TSL on any trade setup I observed on a M5 GU, Gold, EU chart to gain some profits but also missed opportunities because I was unable to stay in front of the computer.

Here's a related link to Nikos' approach POST-Brexit:

Keen to connect with spartan traders each day after the Daily Bar closes.

Aim is to discuss:
(i) potential spartan setups we each think we are seeing;
(ii) potential entry points for trade setups we see coming up in the next 24 hour period; and
(iii) potential exit tactics for any active trades we are managing.

Anyone interested should message me to advise thier skype details.

My recent gbpaud trade with spartan

Possible AUDUSD LONG trade setting up on H1

My thoughts as at 0630 GMT:

1. We have seen 3 x HH / HL on Daily TF since 21 June so bias is long.
2. I missed the H4 setup today after the 2016/09/06 H4 0000 bar closed, so now I am looking to enter long on the next H1 setup.
3. I see potential for 150+ pips given there is an R-level from mid April 2016 (around 0.7827) and a MN down-STL that needs to be taken out before any larger gains would be possible up to the MN & WK 200 eMA levels (around 0.8200).

Please reply if you wish to share any alternate observations.

Use this layout as a template for the trades you are considering so we can share our thoughts and help each other succeed

Here is a link to the DRAWPROFIT indicator that Edd1e uses to show closed trades directly on MT4 charts

http://www.icefx.eu/drawprofit/

Upload it as a new indi into whatever data folder you have active for MT4, then Just drag it onto each chart like we do for other indi's, and it looks at your trade history to plot the open price with an arrow, the closed price with and arrow and the profit or loss in currency and/or pips or both. The image below shows my closed USDJPY trade that resulted in 90.7 pips profit (= A$11.35 for this particular trade)

HOW CAN WE HELP EACH OTHER SUCCEED WITH SPARTAN?

Thought #1
Share what setups we are seeing so that each trader is alerted to possible setups they may wish to consider
- see example at Post#18

Thought#2
Share your thoughts about the setups that are being posted in order to help each other improve our own analysis

Any other thoughts?