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The7 Trading System

  • #621
  • Nov 18, 2012 4:20pm Nov 18, 2012 4:20pm
My orders;

Euro/Aud - Sell
Gpb/Aud - Sell
Aud/Usa - Buy
Nzd/Usa - Buy
Eur/Usa - Sell
Enter Signature
  • #622
  • Nov 18, 2012 4:22pm Nov 18, 2012 4:22pm
Quoting fxscalp1
My orders;

Euro/Aud - Sell
Gpb/Aud - Sell
Aud/Usa - Buy
Nzd/Usa - Buy
Thanks for sharing your picks..
  • #623
  • Nov 18, 2012 4:33pm Nov 18, 2012 4:33pm
my trades

aud/usd long
nzd/usd long
eur/gbp short
gbp/chf long

all good trades and good night
  • #624
  • Nov 18, 2012 8:36pm Nov 18, 2012 8:36pm
Booked my GBP/USD long for 30pips..
  • #625
  • Nov 18, 2012 9:43pm Nov 18, 2012 9:43pm
Quoting mrcool4
Booked my GBP/USD long for 30pips..
Good pick MC.
Enter Signature
  • #626
  • Nov 19, 2012 5:32am Nov 19, 2012 5:32am
Attached my closed trades for today..
EURAUD
EURGBP
AUDCAD are still open...
Attached Image (click to enlarge)
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  • #627
  • Nov 19, 2012 9:12am Nov 19, 2012 9:12am
Well here was a trade I have just closed at a loss. I had gone short on this yesterday when I shouldn’t have gone anywhere at all ! The red candle needed to have opened above the upper EMA. Of course it might well recover and continue the downward trend but that is no excuse for holding on to a bad trade decision and in my experience the sooner I can get out of a bad trade decision - the better. But heck - it was hard to pull the plug
Attached Image (click to enlarge)
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  • #628
  • Nov 19, 2012 9:32am Nov 19, 2012 9:32am
Here are the rest that are still open. In every case I have closed the orders from 0.2 of a lot to 0.1 so taking some profit and I have moved the break even to +5 when they were in a +30 pip profit. These orders will only be closed if 1) the SL is hit or 2) I see a reversal signal as per The7 strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: nov19the7the rest still open.jpg Size: 134 KB
Enter Signature
  • #629
  • Edited 3:24pm Nov 19, 2012 12:16pm | Edited 3:24pm
Quoting IamTHAT
Copy that set file to expert/presets folder.
Drag the EA onto chart and in the properties page go to inputs tab and press Load. Select the correct setfile.
Hi there, greetings to all. I'm new in the forum and on trading also.

I follow these step, but i can not see the EA on "Expert advisor Explorer" after copy and rename the file to this folder.

http://screencast.com/t/pdx4SSv7

What I did wrong?

UPDATED!

I just solve the problem. Really is not a problem, really is that I installed only the .set file, but I had not installed de EA.
Greetings Valcol
  • #630
  • Nov 19, 2012 12:49pm Nov 19, 2012 12:49pm
Quoting ChicagoRob
Set file attached, herewith. Adjust lot size accordingly. Change ex4
extension to set.

Rob
Hi Rob - I'm a bit confused: so you dont use any SL and TP ? Strange - acc. to the rules the SL is the high/low of the last candle ?
  • #631
  • Nov 19, 2012 1:44pm Nov 19, 2012 1:44pm
Quoting DerBerliner
Hi Rob - I'm a bit confused: so you dont use any SL and TP ? Strange - acc. to the rules the SL is the high/low of the last candle ?
The SL and TP are programmed into Hopwood's EA, to follow the system as explained by the author. I let the EA stop-out per the code, but I use my own TP by the use of BE, etc.

Rob
  • #632
  • Nov 19, 2012 2:20pm Nov 19, 2012 2:20pm
yes that's the point ! did you ever had a loss by SL ? I'm running SH's EA today with your setfile - but 3 trades are open although the price is -for sells - far higher the upper line of the channel but the SL didnt work ... the same for buys: the price is far under the buttom line of the channel but the trades arn't stopped out !
  • #633
  • Nov 19, 2012 5:27pm Nov 19, 2012 5:27pm
Booked my EURAUD short for 30 pips.. I am holding only AUDCAD long.. EURGBP stopped out..
  • #634
  • Nov 19, 2012 6:03pm Nov 19, 2012 6:03pm
Quoting mrcool4
First of all thank you so much for the system. I have a question regarding the timezone. I am using metatrader platform with server time GMT-5
will that impact this strategy? Please advice.

Thanks in advance.

MC
YOUR TIME ZONE DOESNT MATTER! Guys, so many of you are asking about differences in time zone. You just look at your daily bar, which will close at 5pm New York Time. So whatever time that is in your country or state, thats when the bar is closed and a new one begins. You may start trading at that time. I like to wait 1 hour until 6 as they often widen the spreads on you that 1st hour so i wait till 6. Thats it. Nothing else to worry about. And if you are trading 60 mion bars or whatever, just use your own bar close you see on your screen. Finished! I hope that helps some of you. LOL
  • #635
  • Nov 19, 2012 6:23pm Nov 19, 2012 6:23pm
Quoting Silat50
YOUR TIME ZONE DOESNT MATTER! Guys, so many of you are asking about differences in time zone. You just look at your daily bar, which will close at 5pm New York Time. So whatever time that is in your country or state, thats when the bar is closed and a new one begins. You may start trading at that time. I like to wait 1 hour until 6 as they often widen the spreads on you that 1st hour so i wait till 6. Thats it. Nothing else to worry about. And if you are trading 60 mion bars or whatever, just use your own bar close you see on your screen. Finished!...

I will give one more hint that will have everything covered that matters. What happens if you wait for the bar close but the daily bar is very small in size and you only have like 30-50 pips range and you feel you will get stopped out. So...no problem. Go back one more bar and use that as the stop loss. This should now cover every situation. Oh, and in case it doesnt fix your problem, probably it means that you should just find another trade.

My mentor and teacher said to me "If you cant explain easily and confidently to a 12 or 14 year old why you want to take a certain trade, you probably shouldnt take it!" Missing out is ok, it frees your time to find something youll be even happier with. This tip was worth a fortune to me over the years and I will share it with you guys. After all, a candle doesnt go out by lighting another candle.

Ok, lets suppose you know what car you want to buy and you call up the dealer and he gives you a price. You don't trust him that much so you ask him to make you a promise that he will honor that price. He says ok. Now you feel better. So as you are driving down to the dealership, you are all excited about driving this new car with a nice look your neighbors will all say "Oh wow, very nice!" But now you get to the dealership and guess what happened. They claim to have made a mistake and the car you want is still available, but in white, not black as you really wanted. But he offered you a nice price, you told him you want it and so you take it. You drive home with it...half of you is excited, but the other half of you wishes he would have went to another dealership. In other words, you aren't 100% happy with the trade. You traded your dollars for his metal vehicle. Same with a trade. You are using Fibonacci numbers. Everything lines up, You were watching the trade for hours or days and all you need is for it to break up thru the .786 line and you are in and 100% happy. But, someone called you and kept you on the phone for an hour, you came back and price broke thru the .786 as you wanted to make you 100% happy. But the problem is, it is now 20 pips higher than you wanted to pay for it.(I hope you had a number in mind!) So what do you do, let this beautiful trade go, or take it and just suck it up that youll make 20 pips less? What do you do? I will tell you.................. DON'T GET INTO THAT POSITION THAT YOU HAVE TO EVEN ASK, because all of you who know Murphys law know, whatever you decide you will regret it. You cant always do it, but try to make trades that make you 100% happy getting in or at least follow 100% of your rules. Then if you lose, you don't lose your good mood too! LOL
  • #636
  • Nov 19, 2012 8:27pm Nov 19, 2012 8:27pm
Quoting Silat50
I will give one more hint that will have everything covered that matters. What happens if you wait for the bar close but the daily bar is very small in size and you only have like 30-50 pips range and you feel you will get stopped out. So...no problem. Go back one more bar and use that as the stop loss. This should now cover every situation. Oh, and in case it doesnt fix your problem, probably it means that you should just find another trade.

My mentor and teacher said to me "If you cant explain easily and confidently to a 12 or 14...
Great advice!!
  • #637
  • Nov 19, 2012 9:02pm Nov 19, 2012 9:02pm
Quoting Silat50
YOUR TIME ZONE DOESNT MATTER! Guys, so many of you are asking about differences in time zone. You just look at your daily bar, which will close at 5pm New York Time. So whatever time that is in your country or state, thats when the bar is closed and a new one begins. You may start trading at that time. I like to wait 1 hour until 6 as they often widen the spreads on you that 1st hour so i wait till 6. Thats it. Nothing else to worry about. And if you are trading 60 mion bars or whatever, just use your own bar close you see on your screen. Finished!...
Hi Silat,

Thank you for the info. But my daily bar doesn't close at 5pm New York Time . A new daily bar is starting everyday at 12:00 AM canada time(Server time not my local timezone).
Anyways so far this system is working perfectly, I would like to continue with my setup and continue my demo testing.

Thanks,
MC
  • #638
  • Nov 20, 2012 7:55am Nov 20, 2012 7:55am
Quoting DerBerliner
yes that's the point ! did you ever had a loss by SL ? I'm running SH's EA today with your setfile - but 3 trades are open although the price is -for sells - far higher the upper line of the channel but the SL didnt work ... the same for buys: the price is far under the buttom line of the channel but the trades arn't stopped out !
You are 100% correct. I never needed a SL because all my trades were winners. Yesterday, I had two trades reverse and go beyond the SL and nothing happened. I ended up closing them out manually. I posted the problem
on Hopwood's forum, so hopefully there will be a fix. As always, make sure everthing is tested out on demo before
going live.

If there is no fix, I will enter all my trades manually and use MPTM to manage the trade.

Rob
  • #639
  • Nov 20, 2012 9:26am Nov 20, 2012 9:26am
Good morning folks, (8am my time) Here are my latest results, 3 have hit my BE SL so far with one still open. I haven't got the order manager that I've borrowed, working quite right yet. My goal was to have all orders move to BE +5 at +30 pips and then close half the order. The BE moved to +5 as requested but I had to close off half of the orders when I awoke yesterday morning so as you can see the profits vary from order to order. Other than my bad trade decision on the eurusa I'm very pleased with this strategy - thanks again The 7.
Dave
Attached Image (click to enlarge)
Click to Enlarge Name: nov20the7thelast one standing.jpg Size: 161 KB
Enter Signature
  • #640
  • Nov 20, 2012 3:45pm Nov 20, 2012 3:45pm
Quoting fxscalp1
[size=3][font=Calibri]Good morning folks, (8am my time) Here are my latest results, 3 have hit my BE SL so far with one still open. I haven't got the order manager that I've borrowed, working quite right yet. My goal was to have all orders move to BE +5 at +30 pips and then close half the order. The BE moved to +5 as requested but I had to close off half of the orders when I awoke yesterday morning so as you can see the profits vary from order to order. Other than my bad trade decision on the eurusa I'm very pleased with this strategy - thanks again...
Good Job Dave..
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