The7 Trading System

Silat50, Some pics of your set-ups and trades to go along with your explanations would be greatespecially for us visual learners.Thanks Much!

Ask and ye shall receive,Prosper. Lets examine the chart:

1-The perfect place to enter was on the next trading day/candle(1 hour wait) after that Doji candle, 2 bars 2 the left of the green arrow. Not only did you have 10 bars going down/opposite to totally exhaust the trend, but the hammer on left side of Doji gave confirmation 1st before you got the Doji for 2nd confirm! This is actually the most perfect setup for this system, possible. So we enter at around 9477,the open of the next bar and we get another and 3rd confirm as bar isnt that big but its solid and shows us there were only buyers. The sellers ran out of currency over 10 days of non stop dumping! So we close at 9517 for a 40 pip profit for day one...and much more important, we are ready for a rocket ship to take off. So the system tells us to do nothing and get out when we even go under(not close) the candles low to the left of us.

2-The semi advanced turbo technique-Why not get in for a second position after the last candle on the chart goes up about 20 pips? I did. Why? #1-If you use a 30 pip stop, youd have to retrace all 20 pips gained in the Asian session and also go 10 pips into the previous bar as well. You will get stopped out over half the time, but you are risking 30 pips now to make double the gain on this run. Please!!!!....Give me any system on earth where I can make 150- 200 pips or more on each win and lose only 30 on each loss with even a 2-1 shot aagainst me. I will be very rich.

These confirmations are not nearly as powerful with just a 3 or 4 normal bar drop. Yet I will take it anyway. Why: If the reversal bar is a huge 120 pip enguphing, I already told you I would gladly take 120 pips of risk on the 10-15% chance I get knocked out on that candle and lose all 120 pips. Better chance to have Halle Berry lick your _____ ! But if we only get a doji or small bar similar to it,we get set up for a 2 bar entry in most cases. Sometimes we can go under the low of both bars if they are not big!!!!

EVERYTHING TO GAIN, NOTHING TO LOSE. Ohhhhhh and look, that doji gave the bands time to straighten out and go in the right direction,so when we get in, both the bands, the system and the candle setup is with us along with a possibility to make double.

There are even 2 more entries I can take to have 3 or 4 lots in, but this is way too much for now. I would stick to using 1 lot and play the 2nd lot on paper till you are profitable with it. And yes, all those different lines are moving averages from 2 other systems entirely! Dont even worry about them. Lets kick some butt this month boys. Im very optimistic. Why?

Either we are going to continue the reversal we just got on all these new positions or...we get knocked out on a retrace for 2-5 days and we resume the original trend for another big move. Percentages do not point to choppy trading this month. Always........."look to the left. look to the left..............look to the left. Then you know what to expect. Still not sure, go to a weekly chart and look to the left. Still not sure, go to an hourly chart and ....look to the left. That comes later

To simplify: I like to get in on my second lot when Ive gotten in already and the current bar has already gone up 30 pips so I place that stop under the present bars low which didnt exist 2 hours before! Much better is to wait for LONDON sESSION AS THE VOLUME IS MUCH HIGHER TO MOVE SOMETHING 30 PIPS. EITHER WAY IS A WINNING MOVE........

Silat50 i agree with alot of what you have said. You have alot of insight. Question regarding with the doji candles dont you need confirmation from the close of the present before entry. Cant dojis act as a continuation of trend sort of a breather so to speak. Unless its like a pin type then i can see entering the trade.
Thanks,
Paul

Thanks Silat50,Great info!!! Keep it coming

Would be helpful also if anyone is seeing a potential nice set-up to call them out.

Definitely paul. Dojis can act as continuatin/breather candles. But then they do no one from either side of the trade ANY good. Its when you have many candles dropping and then the doji appears, its much more likely to be a reversal candle. And yes, you are right, we wait for the next candle "after" the doji to start for us to enter. But that doji coulnt be more than 40 pips of risk, right? So you can put your initial stop under thye doji after it closes, and then if the pair takes off by 30 or more pips you take a second entry if you want under that current candle. Or put the second entry under the dOJI IF YOU WANT! Or......go backwards not forward. You can put the 2nd entry under the candle left of the doji if the risk isnt that much greater if you dont like the doji. Or...you can wait one bar to close after the doji and get in under that one!

Just be consistant. The rest you can papertrade. So now you have the "7 SYSTEM" and 3 new entries to really "F*&k things up good! =) In the beginning when I had little free time, I just used the simple 1 entry system we were taught as I didnt have time to do all this debating and decision making. I would spend 15 minutes going over every pair. After I had 5 pairs in action I would only look to see hwere to move my stop to.

AND OH YES....ON DOJI'S and other small bars, or anything that sets an alarm off in your heard, YOU CAN WAIT FOR THE NEXT BAR TO GET IN, AND FORGET THE FIRST. I confess I came up with this by screwing up .I didnt see the trade sometimes and caught it on the second day into the band. Well, if it wasnt too much movement, Id take it right there. So many ways to win with this! Im sorry for you newbies that Im making this into a discressionary system.IT IS NOT! Im just telling you guys why Im making out like a bandit when some of you seem very unsure. And if market conditions go choppy, just ask me if Im doing anything. I may sit out lots of trades in the summer if volume goes dead again.

lets kick ass this whole month!!! * and dont believe all currencies move up or down against all the pairs. You all saw with NZD, USD, gBP and EUR that some of them went up against the USD and down against other pairs. Only the JPY and CHF was easy redundant money. CHF went up against everything but USD, AND jpy WENT DOWN AGAINST THE WORLD. I also admit I did so well because I didnt use just the technical analysis our mentor and thread starter said to do. I got stopped out of 2 incredible looking long set-ups going with the JPY. And I started digging for fundamental answers. And I found them. Once I found that the Japanese prime minister and BOJ were blatantly saying they need a weaker yen to get out of deflation, I knew I : HAD TO AVOID ALL JPY LONGS. IT WAS CANDY. So I wont take all the credit. The BOJ 's big mouth gets some credit too. -)

HERE IS ANOTHER CHART, MY BEST TRADE OF THE WEEK , UP OVER 200 PIPS IN LESS THAN 3 TRADING DAYS. I ADDED LIKE AN HOUR OR 2 AFTER I ENTERED. LOOK AT THE POWER OF MR. DOJI AGAIN. They say unless you can explain your reason for taking a trade to a child, dont take it. Can we explain this easily...or what? Yuh think I care if we get stopped out now? Couldnt care less. I cant lose anymore. What a system he gave us!

And look at the doji on the bottom of the last chart on the red side. It was telling you..."Not right now. Wait another day or two...." And MR DOJI WINS AGAIN. TWICE IN TWO WEEKS!

Paul, this will make you feel better. You can wait till the high of the doji is broken to enter it if its not too large. Or enter and if stopped out, then re-enter when it is 30 or 40 pips higher or even the next candle. I like to enter right away because my risk is so small, that when I enter twice, Im not risking more than if I took a trade on one medium candle. Do what is comfortable as long as your risk doesnt get jacked up.

Shhhhhhhh...dont tell anyone this...but....you can enter on the candle after the doji...and put the stop on the candle BEFORE the doji for more room!

By the way we have USD news all the way from 8:30am unemployment which is very big to the FOMC meeting of the minutes at 2pm. We can throw out all the charts after 5:30am. Time me on this. Then everyone goes into guess mode. I personally do not get out when news comes but with all this news all day long this is going to be a brokers dream and a great day for traders of 5 min charts. If we are ahead by 3pm today its gonna be an awesome week!

But I was smart AND LUCKY, most of my pairs are not with the USD.

***For the guy asking about a setup, the EUR/usd IS SETTING UP. Guess what, I cheated and got in the second the daily bar crossed the band. I figure if Im hitting on almost everything Im touching this week, might as well go for it. Today is not the day to be first getting in anything with 6 pounds of news coming all day.

***Remember, you can always get in the second day if you want to wait out the news. Many setups will first be triggering tomorrow very late anyway. We win all around.

Oh also............gbp/usd is setting up and I think the news will make the charts move for days because both USD and GBP news is coming later on. Be careful,though. I was a specialist in one thing in the stock market so i can manuever a bit easier with less stress than some. I couldnt bend all these rules without years in trading rooms learning from real pros, as well as reading a trainfull of books. This is the best system you will find I think because as you get more experienced you can adapt it to work with your other things you like. In my case, Fibs and weird moving averages and candle combinations. But this is the nuts for great "forced money management. Let all the expert day traders weave in and out on 5 min charts all day.looking to the 15 and 60 for CONFIRMATION! Those days are over for me.

Silat50 once again thanks for the education very informative. I cheated and jumped into the gbp/Usd and eur/Usd early couldn't resist that setup. Next trade I'll try your two enteries on the one candle.
Thanks,
Paul

OK looks like Cad/Usd setting up for a buy. Aud/Usd sell and Nzd/Usd sell but importantly its candle formation of dark cloud cover forming.

hi silat

you write very well. but my main language is not english.
how possible for you to post to illustrate the above statement.
maybe many traders like me would understand with east with pictures
thanks for your time.

p.s. see no more the7 posting? wonder why?

Good work! Now for my synopsis. I personally will not take the aud and the cad play because both bands sharply point the other way. Yet....if the candle doesnt get much bigger on them, IT IS A WINNING PLAY. You will likely lose your money,but youll be getting a very good r/r. Im in too many winning positions to gamble now.

Now the USD/NZD IS very interesting! Because all of you missed the entry. you all were supposed to get in on the prior candle. But..... you may still jump in ASAP, before this candle gets any more range too it as the risk is small. What I like about it is the last green candle had such a big wick, you can smell the exhaustion from here, you agree? Also, not discussed but sometimes, only sometimes important, what i like as well is that the previous candle that was the first down candle had the highest volume on my chart of any day! Now whats interesting and neutral is it is now 11:40pm and the candle is now a decent size but the volume is next to nothing. That means there are only sellers for this to happen. So either this will collapse in the NY session or next day, or we get it rammed up our butts in the bat of an eye with any decent contrary volume for just 1 or 2 hours!

Let me consult my consultant.One minute................................aaaaaaaaaaaaaaaaaaaaaaaaaaaaaand ZOLAR THE MAGNIFICENT has predicted...short this baby. Take a chance! I may even get in now.


To the other poster who wanted to see charts I have 2 charts already here. What do you think of them.they are lessons in dojis.

And to the person who wants to know where 7 went, he dropped dead when he saw his brokerage statement last month, as his sexy Brazilian girlfriend emptied his account.He was an old man. He was buried in Los Angeles....... and I took over the thread.

MY POSITIONS: I am long the AUD/CHF and already unloaded 1/3 of my position. Is that a huge move or what! I am short EUR/NZD, look at that dooooooooji I keep telling you guys about!!! I admit I got in before the doji closed and was pissed off that I ended up minus 20 pips to start off with. Im very very happy now! I am long the CAD/JPY too. If I can figure out how to use my snagit I will show you guys proof by getting a snap of my acct. If its too much trouble you guys will have to take my word for it.You can see they were all easy and clear trades. this has been the best forex december Ive ever had. God bless you ,seven, wherever you are.

Because of the gift we received from the BOJ and the Japanese prime minister that they were going to short the hell out of their own dollar to get it lower so they can go from deflation to 2% inflation, I advise not going long any japanese pairs at this time. If I am wrong I am wrong. Does anyone want to bet the technical players can out move the whole damn BANK OF JAPAN. lol (That for those who are new is like our USA FED, and Bernanke.

Its not like we dont have any other plays to worry about,right?

I'm in the USD NZD. Thanks.. The EURNZD has moved too far for me now . I'll wait for pull back

guys, I have posted my real time real money results in my brokerage acct. Please be aware that at the bottom,t he total win is over 1400 pips, or there would be no comma there. It might not show. IS THIS SICK OR WHAT!!!!! Look how little time it took me to make this. Look at when the positions were initiated. I blocked out how much money I made. That is personal. I just want you to see I put my money where my mouth is. I play for real. I never had to take more than 3 lots on any pair. Usually just 1 or 2. How can I do it? Those who hang out with me here or help me to open a room in 6-10 weeks will see this first hand. Yeah...I trade sometimes 6 hours a day...just watching the live charts. But 2 hours at all 3 time zones!!! Both the Asian,the London and NY. tHEN MORE TIME FOR ANALYSIS! Guess what..... you don't have to. Its just for extra money. I hope one of these versions is open automatically as some of you couldnt see my charts so I did it in jpg. and pdf files. I challenge any trader on FF to beat what I am doing here.

I need the 2 of you who have been posting upcoming plays to keep doing it 2 or 3 times a week. Im getting burned out sniffing out plays on all three trading zones. I cant ever get a decent nights sleep. Let me know what you guys and gals think. I pray we can all be green big time by next Christmas. Big, I mean Big! Good work on the plays,guys. Lets keep working together in a rhythm. just like this. Not straying from the system but helping with the plays and adding your own reasons you personally took the play or even if you didn't take something. We are onto something here guys. This rocks!

Silat50

Where is everyone? You guys dont actually have jobs,do you? Anyway this AUD/NZD that was pointed out to me is a good lesson regardless whether we win or not. The play was long,right? Did we miss it? Of course. who wants to get into it when it already went 80 pips in our favor? I like in now! Im getting in right "after" I post this at about 1.2673. LOng! aT FIRST GLANCE THERE IS A LOT OF RESISTANCE ON THE DAILY CHART OVERHEAR JUST A FEW BARS TO THE LEFT. bUT KEEP LOOKING TO THE LEFT...BUT ON A WEEKLY CHART. nOW WHERE IS THE REZ? How about the 1.3200 area.

And what makes this interesting is that the most volume for the whole year going back to NOV 2011 IS RIGHT IN THOSE 2 WEEKS! That is the area where certain bankers jump in with both fists. So...we are going up and there isnt even much volume. Imagine if we get those banking and hedge fund boys back? We could break that rez and go to the next one. And what are we risking, by putting a stop under the present days low? Cha-Ching! We have such a huge edge ,we win even if we lose. Im just taking a taste for one lot. Speaking of taste.....

I dont advise going to the weekly. It makes things way too complicated,but this just caught my eye, and with a 10-1 risk-reward ratio. Jesus H. Christ!

I am going to be asking for volunteers from all of you to contribute certain things that need to be investigated, records kept and news reported. Im going to pick out my first choice for our new trading room. I need that investigated too. Lets work as a team.

Silat 50
I have been monitoring this forum since mid Dec and am very impressed with it's simplicity. Although not trading any signals yet I have been monitoring about 15 pairs.
The problem I see is not the entry, that is staight forward, but the exit. I have seen numerous times ( live and backtesting) a trade getting closed on a retrace and close back in the channel and supposedly a trade in the opposite direction, only to see a continuation of the original trend. This dilemma needs addressing with a firm set of rules as to when to again enter the original trend. Most of the time a valid re-entry as per the rules does not occur. I have attached a chart to show an example.
I live in Australia and generally trade the early London session, although I am at home some Mondays and Teusdays for trading. As I start work early, I have a problem trading the system as the daily bar starts whilst I am at work, and cannot therefore take the signals.
I am interested in joining any group or assisting in any way I can. I have been trading for about 8 years.
Keep up the good work, I find your posts very informative.
Cheers
gregben

Silat50 sorry I'm on NY time and sleep is important, keeps me away from interfering with the trades lol. Why I went with cad/Usd even though the bands were pointing down the stoch was showing some divergence and it hit the resistance level for a second time making a W. got in and out. As for nzd/Usd the candle you are talking about was a good indicator but opened in the band and closed outside it. Which is reverse for entry rule. That's why I waited and saw the dark cloud cover candle take form. Got in and out, all for a profit.
Whatever you do count me in regarding trading room.
Paul