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The7 Trading System

  • #361
  • Oct 11, 2012 3:37am Oct 11, 2012 3:37am
Quoting shaikjun
usdchf did not close below the EMA

it did on my chart. just below the ema. in fact it is a perfect sell setup. i dont have the chart in front of me, but if i remember correctly yesterdays daily close was a spinning top / pinbar. so a high probabilty trade. have taken sell.
  • #362
  • Oct 11, 2012 3:45am Oct 11, 2012 3:45am
Quoting shaikjun
usdchf did not close below the EMA
May be not on your platform mate. I did not enter the trade due to the long'ish tail though.
Faith with Action
  • #363
  • Oct 11, 2012 4:11am Oct 11, 2012 4:11am
Quoting shaikjun
usdchf did not close below the EMA
It did on my platform (Alpari UK, working from CET zone GMT +2)

Wasn't the most emphatic entry, but as it formed a pin as a second rejection of 9400 which is also where the 200EMA sits, I decided to take it. Currently +15

Cheers
Getting there, slowly but surely...
  • #364
  • Oct 11, 2012 4:15am Oct 11, 2012 4:15am
now it seems like conflict of different brokers,so any idea which time zone to follow, im staying in asia zone and using thinkforex .

Quoting Edlich
It did on my platform (Alpari UK, working from CET zone GMT +2)

Wasn't the most emphatic entry, but as it formed a pin as a second rejection of 9400 which is also where the 200EMA sits, I decided to take it. Currently +15

Cheers
NEVER go against the Daily trend
  • #365
  • Oct 11, 2012 4:23am Oct 11, 2012 4:23am
Quoting Ariadne
@shaikjun



in the place of the Daily chart,
24hr = 1440 minutes

i find it to be sharper more reliable info then the Daily, also 1440min chart compiles the information exactly to the specs of your time zone.
meaning the next day starts at the beginning of the new trading session!

144min chart is just the downsize scale of the 1440min, 10 bars per day!
On intraday it is quite solid momentum reader.


If you are unable to be specific then i'd suggest
the Daily -120min


hope this will help clarify ? :-)

P.S.
..........
i use mt4

CAN you post indicatif to modify Time frame & candelas

T h à n k s
BROKENGLISH
  • #366
  • Oct 11, 2012 4:31am Oct 11, 2012 4:31am
Quoting shaikjun
now it seems like conflict of different brokers,so any idea which time zone to follow, im staying in asia zone and using thinkforex .
I'm not too concerned about it, the market will ebb and flow the same for everyone, sometimes I'll get entries you don't and sometimes the other way round.

In the long run, this strategy will get us into enough positions to not worry about the odd one missed due to candle formations in different time zones.

Cheers
Getting there, slowly but surely...
  • #367
  • Oct 11, 2012 4:31am Oct 11, 2012 4:31am
Quoting shaikjun
now it seems like conflict of different brokers,so any idea which time zone to follow, im staying in asia zone and using thinkforex .
I don't think it will matter too much over time so let's not get into a 3 page discussion about gmt+1 etc as happens on most threads. I think my broker daily candle closes about 04:00 gmt but I just put my trades on at approx 23:00 before I go to bed as that's what suits me. Sometimes I get a better price, sometimes worse but I can always adjust the trades in the morning.

I have to say that so far this strategy is working out well for me, currently got 11 positions open. Hope to post some charts later.
  • #368
  • Oct 11, 2012 4:54am Oct 11, 2012 4:54am

Quoting Edlich
I'm not too concerned about it, the market will ebb and flow the same for everyone, sometimes I'll get entries you don't and sometimes the other way round.

In the long run, this strategy will get us into enough positions to not worry about the odd one missed due to candle formations in different time zones.

Cheers
NEVER go against the Daily trend
  • #369
  • Oct 11, 2012 4:57am Oct 11, 2012 4:57am
yes you are right ,lets not hijack the thread to never ening time zone,agree this method is profitable ,will post the statment end of the month,
Happy pippings
Quoting TradingDrunk
I don't think it will matter too much over time so let's not get into a 3 page discussion about gmt+1 etc as happens on most threads. I think my broker daily candle closes about 04:00 gmt but I just put my trades on at approx 23:00 before I go to bed as that's what suits me. Sometimes I get a better price, sometimes worse but I can always adjust the trades in the morning.

I have to say that so far this strategy is working out well for me, currently got 11 positions open. Hope to post some charts later.
NEVER go against the Daily trend
  • #370
  • Oct 11, 2012 5:03am Oct 11, 2012 5:03am
My trades so far this week:

Closed
NZ/US - 75
GB/JP +110
US/CH + 51

Open
EU/US +85
EU/JP +94
GB/CH -40
US/CH +15
EU/CA -26
CH/JP + 2

If I were to close every trade now, I'd be up +216 in less than a week. If this were to prove consistent, then there really is something in this strategy. Time will tell, but it's certainly got my attention.

Cheers
Getting there, slowly but surely...
  • #371
  • Oct 11, 2012 6:02am Oct 11, 2012 6:02am
Quoting The7
Between June1st, 2010 and Jan 2011 the Aud/Usd produced 1583 pips. The chart below is from Ibfx. It is not fair, to show a time period with failed trades and saying this system is a bad idea. You have to look at the whole picture. I didnt even check what this system did during this time with other pairs...
I never said that the system was a bad idea.

I said:

"While the method CAN catch a trend in the early stages, it's weakness is that it can also get into many consecutive losing trades by going against a strong trend, and in very choppy conditions."

That's not criticism, it's just a fact.

Most daily trading systems are looking for a trend that they can get in and ride. They will be wrong more often than not because long trends are usually few and far between. But, a good long trend is what makes up for all the small losers, and then some, hopefully.

This system does it a bit differently. It tries to enter most often by going against the trend, and then hoping that a new trend develops almost immediately in the opposite direction.

Both ways can work, but both ways have weaknesses, and that's OK. It's just good to know what they are.

Some posters appear to be getting good results with it so far, which is encouraging, and I hope that continues.
Always a Student, Never a Master - Emulate What Works
  • #372
  • Oct 11, 2012 11:00am Oct 11, 2012 11:00am
Robin,
I too noticed this right off the bat. You get a valid sell signal for example in a strong uptrend. There is no corresponding buy signals where the candle enters from below the low EMA because the uptrend is very strong. And this can continue for quite some time.

The solution to this that I am using is fairly simple but it is NOT part of the7's system. What I do is put my stop as per the system, and if, after the sell signal I am stopped out, I go long ONLY if the next candle is a strong bull candle that opens and closes above the high EMA. In other words, if the trend is extremely bearish, then I will trade in that direction.

I still take any new signals to sell - in which case my current buy would be closed out or stopped out. Again - this is in addition to the rules of the system, but I've noticed it lets us stay in very strong trends when they occur.

I'll attach a screenshot of this as an example.
Attached Image (click to enlarge)
Click to Enlarge Name: Eur-USD.jpg Size: 139 KB
Disregard all prognostications.
  • #373
  • Oct 11, 2012 4:29pm Oct 11, 2012 4:29pm
Seeing nice long candles forming on EU, GU, EJ
But my closing is in 2.5 hrs.
Anyone else getting similar?
  • #374
  • Oct 11, 2012 4:38pm Oct 11, 2012 4:38pm
wow I am very impressed by the quality and relevance of your advice, here is a method to help me earn more money.
{Promotion Removed}
  • #375
  • Oct 11, 2012 7:52pm Oct 11, 2012 7:52pm
Got nice long candles entries on :

GU
EJ
EU

Still in AU from 2 days ago
  • #376
  • Edited Oct 12, 2012 1:04am Oct 11, 2012 8:58pm | Edited Oct 12, 2012 1:04am
Quoting Pidgeon
Robin,
I too noticed this right off the bat. You get a valid sell signal for example in a strong uptrend. There is no corresponding buy signals where the candle enters from below the low EMA because the uptrend is very strong. And this can continue for quite some time.

The solution to this that I am using is fairly simple but it is NOT part of the7's system. What I do is put my stop as per the system, and if, after the sell signal I am stopped out, I go long ONLY if the next candle is a strong bull candle that opens and closes above the high...
To add even furthermore to this wonderful explanation to which i myself fully concur with.
Observe the level of the closing/opening price of the candle.

As my trading mentor has told me a multiple of times, ...to imagine the bars as the elevator shafts and the levels where the candle is closing / opening as the elevator floor. Some people will be getting out, others will be getting in and the traveling of the new bar continues therefore if the new bar is breaking the floor level of the previous candle, would be something to observe as a natural bias, provided naturally that one has time to observe the market on a more frequent basis!!

On the chart i have marked the closing level of the yesterday's bar as the BIAS level naturally we had a wonderful BULLISH signal on the pound, looking for the continuation and targeting the other side of the "Blue River"

....have fun everyone!!
Attached Image (click to enlarge)
Click to Enlarge Name: 6B.jpg Size: 92 KB
  • #377
  • Edited Oct 12, 2012 1:06am Oct 11, 2012 9:04pm | Edited Oct 12, 2012 1:06am
Quoting recidiviste
i use mt4

CAN you post indicatif to modify Time frame & candelas

T h à n k s
I'm afraid the MT4 is not as flexible with the time frames.
I run on the Ninja 7 Platform

Basically, calculate the duration of the market in minutes and apply to your minute chart
So as with any instrument, if want to trade the E-Mini i'd take in consideration the 405 minutes that the cash market is open under.
NY opens at 9:30am-4:15pm that is exactly 405 minutes
Claro ?
  • #378
  • Oct 12, 2012 3:18am Oct 12, 2012 3:18am
This is a great strategy. Thank you for sharing it.
  • #379
  • Oct 14, 2012 3:05am Oct 14, 2012 3:05am
Waiting to see more results, but for the moment.... Great strategy 7!!!!
  • #380
  • Oct 14, 2012 9:09am Oct 14, 2012 9:09am
My first demo did really well with 19 wins and 4 losses. The attached results are from my new demo, which is doing great so far.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: The7_ff#1.jpg Size: 97 KB
Click to Enlarge Name: The7_ff#2.jpg Size: 176 KB
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