The7 Trading System | Page 34 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

HYBRID: trading system within a trading system 31 replies

Day Trading system - Simple system to make money 51 replies

Trapping System: Way to Fully-Automated Trading System 47 replies

The7 Trading Method Signals Thread 136 replies

Attachments: The7 Trading System
Exit Attachments

The7 Trading System

  • #661
  • Nov 23, 2012 9:37pm Nov 23, 2012 9:37pm
Quoting cwp1979
Silat50, someone broke into my car and stole my weed! j/k I just did my nightly analysis for possible trades and also came up with GBP/USD short as my only trade tonight. We must be on the same page. One thing I wanted to point out is to be wary of trading correlations. For example, tonight I see potential trades in GBP/USD short and GBP/AUD short; however, if I take both trades I am essentially doubling my bet on GBP declining. I prefer to look at the charts and take the pair with the strongest trend and nicest risk/reward. This is why I decided...
maybe try craigs mm blog to afford to get some of that weed back!
  • #662
  • Nov 23, 2012 11:19pm Nov 23, 2012 11:19pm
Quoting 4XWeezal
I think you can manage to read post one or so. Its not all that comprehensive.
Look up the meaning of comprehensive, and then try posting a coherent statement. That is, if you're not too busy looking for someone else's weed.
An ounce of profitable logic is worth a pound of efficient code.
  • #663
  • Nov 24, 2012 1:59am Nov 24, 2012 1:59am
Quoting Walad100100
ChicagoRob and others,

Please take a look at the attached statement. I'm using the EA with the Settings sent by Rob lately. Big disappointing results.

Any comment?
Hi Walad,

It's only two day's trading results. Have you continued on? If so can you post further statement?

I believe we need to look at at least a month's forward run to evaluate the system properly.

RS
  • #664
  • Nov 24, 2012 5:33am Nov 24, 2012 5:33am
Quoting Silat50
NOTES FROM A PRO SYSTEM TESTER:

Gentlemen, I would love for us all to get on the same page here. I have tested more systems and even mental strategies than most of us have hair on their head. We seem to have confusion just on how this system is supposed to be implemented. If I am wrong, then my way is very profitable anyway, and I will share it with you. This is the only way you can play this without it being a different system altogether.

Lets use a short trade as a rule: 1 or most often several green candles take us up and thru the top band....


to be honest, i dont have a clue what your point is here ?? or what you are asking.

it appears after 15yrs of being on forexfactory, you brain has gone bonkers. no disrespect.

iam surprised you are still around.
  • #665
  • Nov 24, 2012 5:34am Nov 24, 2012 5:34am
Quoting cwp1979
Wow, another loser this week. Figures that I was hitting about 80% winners demo trading and now am 1 for 4 with real money. Lost about 100 pips this week.

message me, i will tell you a simple way to avoid such false trades.
  • #666
  • Nov 24, 2012 7:26pm Nov 24, 2012 7:26pm
Quoting RJo
Look up the meaning of comprehensive, and then try posting a coherent statement. That is, if you're not too busy looking for someone else's weed.
I am sorry you cannot read nor comprehend the first post by The7! .....Maybe, some 8 year old could help you learn to read. Hooked on reading phonic's ? Better yet, maybe all the traders can chip in for you for a basic course. They could walk you through and hold your hand.... A price close above and below the 5 ema on the daily with 1 day stoploss and no take profit is so hard to understand. Maybe, the website infant pips should be started!
  • #667
  • Nov 25, 2012 5:46pm Nov 25, 2012 5:46pm
What happened to the thread starter? He hasn't been around in ages.

Rob
  • #668
  • Nov 26, 2012 4:02pm Nov 26, 2012 4:02pm
Hello All,
How come this thread has become inactive suddenly..Is any1 here following this strategy?
How many of you entered USDJPY short?

Cheers,
MC
  • #669
  • Nov 26, 2012 5:58pm Nov 26, 2012 5:58pm
Quoting mrcool4
Hello All,
How come this thread has become inactive suddenly..Is any1 here following this strategy?
How many of you entered USDJPY short?

Cheers,
MC
Hi MC, here are the three I have open.
Regards, Dave.
Attached Image (click to enlarge)
Click to Enlarge Name: nov26 3open orders.gif Size: 75 KB
Enter Signature
  • #670
  • Nov 26, 2012 6:03pm Nov 26, 2012 6:03pm
Quoting mrcool4
Hello All,
How come this thread has become inactive suddenly..Is any1 here following this strategy?
How many of you entered USDJPY short?

Cheers,
MC
I looked at this one to but my rules said to hold on because it was too close to a support line and the reversal was not a good pin bar. Just my way of trading so take it for what its worth. I'm probably not going to post any more charts as I seem to be one of the few that bothers to and I truly believe that a picture says a thousand words. Alyway, make lots of pips and thanks again The7 for starting this thread.
Attached Image (click to enlarge)
Click to Enlarge Name: nov26too close to support line.gif Size: 23 KB
Enter Signature
  • #671
  • Nov 26, 2012 6:58pm Nov 26, 2012 6:58pm
Quoting fxscalp1
I looked at this one to but my rules said to hold on because it was too close to a support line and the reversal was not a good pin bar. Just my way of trading so take it for what its worth. I'm probably not going to post any more charts as I seem to be one of the few that bothers to and I truly believe that a picture says a thousand words. Alyway, make lots of pips and thanks again The7 for starting this thread.
I am sorry for not posting the charts dave. Thank you for sharing your picks..
  • #672
  • Nov 26, 2012 7:32pm Nov 26, 2012 7:32pm
Quoting The7
Here are the rules: Do not trade only 1 pair. Use your money management and positions wisely and allow room for as many pairs as possible. The point here is that we want the winners to outrun the losers..

Place a 5 EMA High and 5 EMA Low on the chart. Short when red candle closes inside the channel, long when blue candle closes inside the channel. Closing candle has to open outside the channel to become a valid signal. Let it run until you see opposite signal. Stop Loss is high/low from last candle.

No mention of Targets (?) and Stops (?), so it is real hard to generate any mathematical probability for use in a risk model upon back-testing.
  • #673
  • Nov 26, 2012 7:55pm Nov 26, 2012 7:55pm
Quoting The7
We all know that sometimes everything works. Any indicator, any system and any pattern..until it doesnt work anymore...I believe the strength in this system is that the trend is catched before it even has formed. So we might get many losing trades but they are usually minimal.(only 1 size of the last candle), but once we catch the wave we should be satisfied with the outcome. The Flying buddha system was a very popular thread many years ago. It was using the 5Ema close for entries. If the candle would close without touching the ema we would enter...

Hello The7,

Where do you set your Stops and your Limits? How do you know the probabilistic risk/reward ratio? Where you aware that "trends" don't really exist from the trader's perspective and that the continuance of price momentum in any lower time-frame is only possible when price momentum is being extended in a larger time-frame (which is what most people call the "trend")?

Also, a "trading system" is the algorithmic integration of multiple autonomous and independent functions (or modules) into an extensible and cohesive whole unit, which produces a trade signal containing a specific range of characteristics used to produce revenue from the continuance of the market in one direction or the other. Can you please identify the working functions of The7 Trading System?

Thank you!
  • #674
  • Nov 26, 2012 8:48pm Nov 26, 2012 8:48pm
Quoting GrowRevenue
No mention of Targets (?) and Stops (?), so it is real hard to generate any mathematical probability for use in a risk model upon back-testing.
Please go through complete thread once again..SL and TGT were mentioned earlier by The7
  • #675
  • Nov 26, 2012 8:58pm Nov 26, 2012 8:58pm
Quoting mrcool4
Please go through complete thread once again..SL and TGT were mentioned earlier by The7
If you know where this information was discussed, can you please give a Post Number? I've already read the OP and it does not contain the Stop and Limit levels, so I can easily expedite the information by going directly to the post # containing that information without reading through dozens of posts that don't.

Thanks.
  • #676
  • Nov 26, 2012 11:35pm Nov 26, 2012 11:35pm
Quoting GrowRevenue
If you know where this information was discussed, can you please give a Post Number? I've already read the OP and it does not contain the Stop and Limit levels, so I can easily expedite the information by going directly to the post # containing that information without reading through dozens of posts that don't.

Thanks.
It must be me, who is rather dumb - a highly sophisticated person like you would not miss the information contained in your very own post 672 - especially citation! Thank you for your repeatingly kind, caring and inspiring posts.
  • #677
  • Nov 27, 2012 12:24pm Nov 27, 2012 12:24pm
Quoting Forex37
It must be me, who is rather dumb - a highly sophisticated person like you would not miss the information contained in your very own post 672 - especially citation! Thank you for your repeatingly kind, caring and inspiring posts.

It just seemed like common sense to me - but I guess I'm being ignored. Without knowing what my risk ratios look like, I can't define a trade - let alone actually make one.

One can look at the strategy (I don't see a "system" of trading here) and figure out that the "signal" comes from a fairly typical In Channel One Bar Reversal Pattern either above or below the Low or High moving average. It will not work in a horizontal market. It also will not work in a directional market having repeated strong corrections that don't move price outside the moving average of either the High or the Low. So, you will catch the first impulse move that initiates a directional market in that case, but most revenue you collect will get wiped away with all the subordinate corrections that take place down range (into the future).

You'll have to do the homework and find which Stop/Limit levels work best for your needs and hope that over time there is sufficient equity growth without too much draw down over the same period. Anyway....
  • #678
  • Nov 27, 2012 3:00pm Nov 27, 2012 3:00pm
Hello there!

It's the first time I'm gonna try this method. I'd like your opinion about the following pairs. Supposing that everything goes as it should, the signals seem valid. What do you think?

AUD/USD
EUR/CHF
GBP/AUD
GBP/NZD
NZD/CHF

Thank you
  • #679
  • Nov 27, 2012 3:39pm Nov 27, 2012 3:39pm
Quoting GrowRevenue
It just seemed like common sense to me - but I guess I'm being ignored. Without knowing what my risk ratios look like, I can't define a trade - let alone actually make one.

One can look at the strategy (I don't see a "system" of trading here) and figure out that the "signal" comes from a fairly typical In Channel One Bar Reversal Pattern either above or below the Low or High moving average. It will not work in a horizontal market. It also will not work in a directional market having repeated strong corrections that don't move price outside...

"Elvis" (the thread starter)...left the building a long time ago.....that usually means only one thing for the system....and ultimately...the thread....
  • #680
  • Nov 27, 2012 3:47pm Nov 27, 2012 3:47pm
Quoting GrowRevenue
It just seemed like common sense to me - but I guess I'm being ignored. Without knowing what my risk ratios look like, I can't define a trade - let alone actually make one.

One can look at the strategy (I don't see a "system" of trading here) and figure out that the "signal" comes from a fairly typical In Channel One Bar Reversal Pattern either above or below the Low or High moving average. It will not work in a horizontal market. It also will not work in a directional market having repeated strong corrections that don't move price outside...
FYI I am quoting the 1st post once again:
Quoting The7
Place a 5 EMA High and 5 EMA Low on the chart. Short when red candle closes inside the channel, long when blue candle closes inside the channel. Closing candle has to open outside the channel to become a valid signal. Let it run until you see opposite signal. Stop Loss is high/low from last candle.
...
1 trader viewing now