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The7 Trading System

  • #441
  • Oct 18, 2012 6:29pm Oct 18, 2012 6:29pm
Quoting Bergit
eur/usd, cad/jpy also I guess ...
Eur/usd looks like a nice short as per system but it might turn out to be risky because of the summit day 2.

Is anyone going short on EU
  • #442
  • Oct 18, 2012 6:40pm Oct 18, 2012 6:40pm
Quoting hullas
Eur/usd looks like a nice short as per system but it might turn out to be risky because of the summit day 2.

Is anyone going short on EU
yes and nzd/usd too, with 30pips TP, and gbp/jpy for some pips today is friday

happy pipping and good night

greets
  • #443
  • Oct 18, 2012 7:09pm Oct 18, 2012 7:09pm
Quoting frani60
yes and nzd/usd too, with 30pips TP, and gbp/jpy for some pips today is friday

happy pipping and good night

greets
So your short on EU what SL do you have in place?
  • #444
  • Oct 18, 2012 8:34pm Oct 18, 2012 8:34pm
Quoting hullas
So your short on EU what SL do you have in place?
Hi I'm short in eurusd also. SL = 1.31279.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 24 KB
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  • #445
  • Oct 19, 2012 2:12am Oct 19, 2012 2:12am
After trying many different methods I've realised that its a lot easier to enter a trade then to exit. The human emotions of fear or greed affect me far more later in the trade then when entering.

I've had to make peace with the fact that it is impossible to get in at the top and out the bottom of every move although the7's method is as close as you going to get for getting in to a trade as early as possible.

I've started using the Chandelier exit and have taken much more pips from every trade as a result. The beauty of this trailing method is that it gives your trade the appropriate breathing space in the beginning and then tightens up the stop when it runs out of steam (and you can adjust according to your risk for appetite). It happened this week with GBPCHF. I stopped out then the trade carried on--thats fine. Due to my stacking method I got 8 x more pips than with a single trade (Thats got not nothing to do with this thread though)

With this method of getting into a trade and exiting when the trade flattens out makes for a very potent combination.

Thanks
  • #446
  • Oct 19, 2012 8:50am Oct 19, 2012 8:50am
I opened my first trade using The7's entry method ( I say entry, because I use discretionary exits rather than the reverse signal exit in The7's original rules) on 5 October.

In my first two weeks I have made a number of misjudments and missed a few entries, however I have just totted up and I have banked 408 pips on closed trades in those 2 weeks.

It has been a while since I've banked 408 pips so easily, I'm very impressed so far. Lets see what the rest of the month brings.
Getting there, slowly but surely...
  • #447
  • Oct 19, 2012 10:59am Oct 19, 2012 10:59am
hello all four trades from last night now in profit closed because it is weekend

e/u short +40
gbp/jpy short +40
nzd/usd short +40
cad/jpy short +40

this was a profitable week again with this system, i cannot often to say thanks

have a nice weekend

cheers
  • #448
  • Oct 19, 2012 12:59pm Oct 19, 2012 12:59pm
Quoting frani60
hello all four trades from last night now in profit closed because it is weekend

e/u short +40
gbp/jpy short +40
nzd/usd short +40
cad/jpy short +40

this was a profitable week again with this system, i cannot often to say thanks

have a nice weekend

cheers
Congratulation !!!

On my side I keep them open over the weekend and already ready to take
couple of other oppotunities:
usd/chf, aud/usd, eurjpy, audjpy, chfjpy.

Have a nice week end
  • #449
  • Oct 19, 2012 2:46pm Oct 19, 2012 2:46pm
Glad to see that some people are making a use of this system. I currently have 3 trades open. Eur/Usd, GBp/Jpy and Nzd/Usd. All in the +30 and 50 pips range. No need to close trades for the weekend. Sorry I am not here very often due my other obligations.
  • #450
  • Oct 19, 2012 2:48pm Oct 19, 2012 2:48pm
Oh I forget to say. I know we made tons of pips in the last 2 weeks. Use them wisely, there will be losing weeks
  • #451
  • Oct 19, 2012 4:56pm Oct 19, 2012 4:56pm
Quoting The7
Glad to see that some people are making a use of this system. I currently have 3 trades open. Eur/Usd, GBp/Jpy and Nzd/Usd. All in the +30 and 50 pips range. No need to close trades for the weekend. Sorry I am not here very often due my other obligations.
Assume your chart looks different?

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.jpg Size: 69 KB
  • #452
  • Oct 19, 2012 6:59pm Oct 19, 2012 6:59pm
Quoting zortan
Assume your chart looks different?

Attachment
Hi zortan,

The7 will get back to you but meanwhile take a look at my chart. My setting for the band width is 1.5 ... what is yours?

Hi cmeldatrader,

I have a question to you regarding the band used in your indicator. What is your band as compared with ema 5 high/low band?

Thanks to all,

RS
Attached Image (click to enlarge)
Click to Enlarge Name: Noname__2012_10_20_2.png Size: 45 KB
  • #453
  • Oct 19, 2012 8:18pm Oct 19, 2012 8:18pm
Quoting The7
there will be losing weeks
any experience you had to share?
maybe to post some charts to illustrate?
how to avoid, if any?
Trade As A Sniper
  • #454
  • Oct 21, 2012 10:45am Oct 21, 2012 10:45am
Quoting RisingSun
Hi zortan,

The7 will get back to you but meanwhile take a look at my chart. My setting for the band width is 1.5 ... what is yours?

Hi cmeldatrader,

I have a question to you regarding the band used in your indicator. What is your band as compared with ema 5 high/low band?

Thanks to all,

RS
I am new to this forum but found this thread is rather interesting. Your chart shows band besides EMA hi-lo. Can you tell what is that band and how to use it?

Thank you.
  • #455
  • Oct 21, 2012 2:40pm Oct 21, 2012 2:40pm
Couple of new trades this evening. On my trade explorer.
CHF/JPY and EUR/JPY 1.5% risk per trade.
Good luck for the coming week everyone
Attached Image
  • #456
  • Oct 21, 2012 3:36pm Oct 21, 2012 3:36pm
Quoting TradingDrunk
Couple of new trades this evening. On my trade explorer.
CHF/JPY and EUR/JPY 1.5% risk per trade.
Good luck for the coming week everyone
Yeah, I have the eurjpy trade, also, plus audjpy, nzdjpy and audusd.

Rob
  • #457
  • Oct 21, 2012 6:18pm Oct 21, 2012 6:18pm
Quoting lucia2012
I am new to this forum but found this thread is rather interesting. Your chart shows band besides EMA hi-lo. Can you tell what is that band and how to use it?

Thank you.
Of course, please read all posts from The7 and you will understand the strategy.

Regards.
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  • #458
  • Oct 21, 2012 6:25pm Oct 21, 2012 6:25pm
Quoting lucia2012
I am new to this forum but found this thread is rather interesting. Your chart shows band besides EMA hi-lo. Can you tell what is that band and how to use it?

Thank you.
Well lucia, I do not understand it either, so, as you can see, have asked cmeldatrader (who created that indicator) to explain and so far have had no answer yet. RS
  • #459
  • Oct 21, 2012 9:25pm Oct 21, 2012 9:25pm
Because there are people who do not like reading, I summarized the strategy with the most important posts from The7.

I hope you do understand the strategy now.

The indicator developed by other people in the thread, does not work according to the statements by The7 and you should not consider please.

I developed an Indicator compliant the indicated by The7. I sent it to the last few days to The7 for validation. In any case I want to share with you for you please try it.

The only parameter of the Indicator is MinCandleSize, it's the size required to know if the candle is a Doji or not. In daily timeframe I use equal to 5 but if you want to use the Indicator in some little timeframe, for example M15, you need use a lower value, for example 1.

The strategy with this indicator is very simple.

BUY - When an up arrow
Stoploss = Low of candle showing the arrow.

SELL - When a down arrow.
Stoploss = Hight of candle showing the arrow.

Exit - When an up arrow should close all open SELL orders.
When a down arrow should close all open BUY orders.

Much success and hope for comments and observations.

Many pips for you!!!!
Attached File(s)
File Type: pdf The7 Trading System.pdf   320 KB | 2,148 downloads
File Type: ex4 The7 TS.ex4   9 KB | 1,134 downloads
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  • #460
  • Oct 21, 2012 9:29pm Oct 21, 2012 9:29pm
The Indicator in action.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 24 KB
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