The7 Trading Method Signals Thread

I have not seen the trade exposure before. Went into contents and did a search and came up empty. Can someone steer me in the right direction to get it working(am on MT4)
gregben

It's in IBFX MT4.. I have a copy here not sure if it works , can try it.
But it's built in to my IBFX

Gregben if your looking for trade explorer associated with ff, go to the bottom of this page in the grey are under products its the last tab. if thats not what you were looking for then check prosper1 post.
Paul

i see the following signals for monday:

daily charts

gbpusd - sell

audusd - sell

usdcad - buy

usdsgd - buy

nzdusd - sell

audcad - sell

gbpaud - buy



i will personally be keeping an eye on au, nu, and ac.

also, in my opinion eu should be coming down heavily tomorrow or in the next 2-3 days.



NOTE: NEWBIES and anyone else who are taking these signals as triggers. please dont.
just because i listed the potential trade direction does not mean markets will go in that direction. please do your own research and then decide for yourself which way to trade.

Had computer troubles so was a little late getting orders in, so entry prices could have been a bit better.

I concur with whatfx in all OF his selections. selections. However I find that taking just 3 or
4 doesnt drive me crazy and allows me to actually root for specific currencies to do well.....in general. However.....

Something doesnt smell right. The LPY pairs are already way out of reach andf over extended even for 60m chart watchers. The Euro tonight is on fire as if their was big news but there is none. And all that there was last 2 weeks was very very bad. So, if FX wants me in the game, they need to give me a "good deal", a discount. So I waited until almost 11pm and now I took 2 positions, and if I lose both, I got the best price possible, better than any market maker.

2 Plays-NZD/USD Sh@84033 GBP/NZD- long @1.9229

I see that tomorrow many be a good day for 2nd day entry plays as some of these puppies need more confirmation that an indicator can provide IMHO.


jUST GOT IN NOW

i havent entered any of those trades yet. lower time frame analysis did not correspond to the daiy trade signals.

so, still waiting to enter short on au, and ac, nu.

just entered short on audusd at 10559.

will monitor this one. if i can get 20-30 pips before market reverses then fine. otherwise will let it run.


need to go out now...late already !

To-days review.

GBPCHF, USDCHF and AUDCHF all long. I will not be taking any of these trades as the stop required is too large and because the candle has hit or narrowly missed the far side of the channel.
The7 original rule " THE CANDLE HAS TO OPEN OUTSIDE, BUT CLOSE INSIDE THE CHANNEL WITHOUT TOUCHING BOTH SIDES TO MAKE A SIGNAL VALID"

CHFJPY is very close to a sell, but it is problomatic that the close of the candle was inside the channel

So no trades to-day which is probably a good thing as GBPAUD was stopped out and other pairs are in a loss at present on trades taken yesterday.

Gregben

Gregben what about eurnzd short, engulfing patter at fib 23 level stoch overbought, rsi declining. take a look tell me what you think.
Paul

paul

you say eurnzd engulfing, stoch overbought. but i dont see it on the daily charts. what time frame are you looking at ?

gu short from yesterday would have given some pips. i did not take the trade.

only took one trade, au short.... still short.

i see only two setups for tomorrow.

gbpchf - long

audcad - short



audcad - a better price to short from yesterday. but too cose to 50ema. a short now could yield about 30 pips before it bounces off 50ema. the 50ema has acted as strong support in the last two market days. but if it breaks through 50ema, then its all the way down....!

gbpchf - again , too close to 50ema on the 4hr chart. so be weary.



both are good signals in my opinion. so will do further analysis before taking them.

a

working off the daily


gbpchf candle touching both bands

gbpchf going up as we speak. too late , will wait till morning.

SOMETIMES YOU HAVE TO HAVE LUCK NOT SKILL:

Today I really lucked out. I should have been stopped on my NZD/USD short but woke up 3 hours ago at 8pm and was kept on the phone for almost 3 hrs talking to a long lost friend who just happened to call when I woke up. I think I would have gotten stopped by just 2.2 pips! AND NOW ITS FLYING DOWN AGAIN. im going to go hunting for a pair to take a small shot on with the JPY's dropping at this odd hour.

Might go to an hourly chart and get in and risk maybe 30-35 pils rather than see a huge enguphing bar in the afternoon. WARNING: That is not part of this system. Proceed at your own risk,

Also, one of you asked me privately what indicators I use. For the 7 system, I only use an 8 sma on an hourly chart.


Then I check the weekly not so much for S/R ,but for a congested pattern which means lost of whipsawing. I love charts that have lots of zig-zags and "W" s AND "M" patterns. Not for the usual reasons most people use them which is why most people go broke using them and have to sell books writing about these "special" patterns but simply to see that the instrument likes to flow in one direction for at least several bars at a time. I dont care if I see a double bottom. That wount make me go long, but it will make me try to find a spot to get in somewhere as this thing is a "mover."

And thirdly I watch candle patterns. I told you guys how big of a "doji" fan I am after an exhaustive run in one direction. I will take that pattern reversal over all the double bottoms and flags in the world. Think about this, if double bottoms really worked by themselves then Bulkowski, Nissan and stephen bigelow wouldnt be writing $99 books on how to use them. ,would they. Yet they do have their place.

anyway 84421 is my stop for the NZD/USD/ NOW LETSD SEE WHATS GOING ON WITH THE JPY.

NEW TRADE.GET IN NOW OR DONT GET IN!

aud/chf- We have all seen this set up last night or this morning,right. But, I net maybe one of oyu if any,took this trade. And for the wrong reason-Too big of a bar-too much risk. Well, I like big bars,personally. Why? The odds are huge of not getting stopped out the next day, and then each day that goes by and you move your stop,up and up, you are at break-even or better usually within 2 days at most. You dont have "time" working for you on small bars.

But, I love small bars too in the right place. And this my men, is the RIGHT PLACE! look at aud/chf right now. What if you took the trade now? But instead of using the old riskier stop all of you avoided, just use todays high as a stop so your risk is no more than 22-25 pips! Sure you have a good chance of getting stopped. But you are going in the direction of the system, and youyr R/R goes thru the rook. I like risking an amount small enough that after a pair has been trading 5 hours I will get 5 or 10 times on my money as long as I dont go above todays high for just another 14 hrs of trading!

NOW THATS WHAT i'M TALKING ABOUT! See, for those of yu weho have adopted my add and reduce method, my way not merely sizing in but actually increasing your profit on every win by 2-300% or more with only a 25% or so added risk..this is it. How?

Ok, lets say you got in at the open tonight. Already you are 13 pips in profit as of now. So you couild actually add another lot right here and have double the profit on each tick but your stop on the second lot is right over todays high, not where you placed it to open the trade. So you have 3 scenarios. 2 of 3 are great

1-You lose both trades. (No big deal, you didnt lose double the money. Sweet.

2-You win both trades. You now made almost double your money with only another 20-30 pips extra risk. Very sweet.

3-You win one trade and lose one trade. In the real world 50-50 means even. But you made almost as much batting .500 or 50% than if you just took one lot and had to be right 1 for 1. Thats 100% right to collect. Very, very sweet!

There is even a 3rd add on you can use. But thats for another day. This already puts you ahead of 90% of traders with fancy money mgmt systems.

Back to this trade. My stop on this trade is now at 97786,thats 2 ticks(not pips) above the high. Just think, the average guy now has to sweat out a 130 or so pip risk on this trade. You have around 20 pips of risk or....you have 150 pips and you make double what the guy with 130 in risk would make. This may not sound as easy as it seems but over hundereds of trades I find this way is taking advantage of momentum and you WILL destroy the guy who takes just one lot with huge risk and never adds.

That said, there are people who somehow never wind up doing well if they have any kind of add and reduce or scaling in system. If thats you, do not do this. It is just one other option.

The safest way to use this is always with the rules that came with it. If you want safety dont add any more indicators or change anything. In fact my mentor told me":Never add or reduce lots in the middle of a trade until you can prove that you can win without changing size.

Still time to get in at 97557. When you see this if it is much more than 5 pips less or 15 pips more.....forget it!


*****Im portant: Does anyone use the "pivot" indicator on your platform. I use marketscope provided by FXCM and tonight I saw something on the hourly with every pair I never saw before. They all stopped at a certain daily pivot and reversed. Every single pair that made it to that level! I want to know how they came up with that level on the platform coding and I want to know how every big trader is following this thing! Most amazing thing Ive seen in a long time. When you set your pivots set it for daily(if not default) and then add in weekly pivots too. Dont mess with the rest and see if you see what im talking about on 60m charts.

ADDENDUM: The aud/chf trade is long. Our stop is under todays low at 97202. I gave it a few extra pips because I dont like to take trades without at least 20 pips of wiggle room. Then you are usually working for the market maker.

short CAD/JPY @ 90.50. nOW AT 9021. sTOP @9052. 5 LOTS! Getting in early for what would be a setup on tomorrows daILY BUT HOPEFULLY IN A much better spot. This is my largest transaction of the month. Yeah, I think my edge is huge.
Dont listen to the pros, when all the different currencies linked with one single pair all drop at exactly the same time, you can almost always get in on the move. On an hourly chart anyway. And....who is to say it wont roll right over to being a daily play and last for days and days and days. Do that once a month,you are golden. And then lose 10 in a row after that it wont matter. Not for the weak of heart...or wallet. -)

Silat50,
I have been away from home all day (unfortunately), but if I had been home I too would have gotten in on your JPY trade. I called a possible short on CHFJPY in an earlier post today and my filters have been showing all the JPY crosses in extreme overbought areas. Hopefully we will get a retracement back up to test the high where I might get a better entry. If not, as you said it will show an entry as per the rules at the daily close.
gregben

Sorry Paul I have not got back to you earlier, but I have been out all day. As I am writing the EurAud is falling a little, but at the time of your message I would not have been looking to short. The 2 filters I am using show that there is more room for upward movement ( not to say it will ), but at this stage I am trying to keep it as simple as possible and obeying the rules as set down. So I am not looking at fibs, pivots or other indicators other than my mentioned filters till I give the system sufficient time to prove it's worth.
gregben

Very good way to think. You are calm about it. Thats a big plus for any trader!

Something is wrong though as I even said on sunday, The markets are acting very strange. Even look at the JPY PAIRS now, they should be fgalling off of a cliff, but no, they drop maybe 90 pips and reverse a bit and stall out with maybe a 60-70 pip profit and leaving thre trader totally confused as to where the volume "mysteriously(?) dried up from.

Is it just me or is everything happening in slow motion in the forex mkts. Sems the stock market is the same: a slow boring grind up and up and up and up a few little points each day. This is why I love this system. Daty traders cannot be enjoying this trading environment no matter if they trade forex or the stock indices. WHAT THE HELL IS GOING ON!
Are we seeing the disappearance of the speculators and now we just have the opposing camps that one takes control and slowly moves price for a few days, then the other comes in and moves it half way back, then another group jerks it crazily for one day and then they are gone. We have lost the exciting rythym that used to be in the markets. Does anyone else see this?