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The7 Trading System

  • #881
  • Jan 17, 2013 7:14am Jan 17, 2013 7:14am
Finally finished this thread:
Got 150 pips from shorting the gbp/usd

thanks to Silat50 for all the valuable contribution.
I am looking to also learn how to re-enter a trade and also avoid potentially failing trades.


Much Pips to all the 7 system traders
  • #882
  • Jan 20, 2013 5:03am Jan 20, 2013 5:03am
Any strategy in a public forum ..will invite the user( other than the creator ) to add on with the original one !!!

This is according to the user how he applies/understood the strategy .

Here is no exception to the above one !!!

The 50 SMA on daily is only add on , I find helping to ride with the trend. fx tester.

Applying this tool , may miss / filters out some of the trade signals.

But in alignment with the trend , the 50 sma enhance the strategy .

What we need ? Follow the trend and ride till tired ? who !!!

7 needs to be thanked again .

mixter

( this post supposed to be posted here and I did wrongly at signal thred. )
  • #883
  • Jan 20, 2013 2:43pm Jan 20, 2013 2:43pm
So Mixter have you weighed the missed tops and bottoms the 7 signals nail that the 50SMA
will not catch, against how it helps you not trade against trends?
That's the trouble with using MA's. They will keep you from trading the wrong way in a strong trend
but the flip side is you will miss out on the killer tops and bottoms which rack up major pips.
What are your findings?
  • #884
  • Jan 21, 2013 12:36am Jan 21, 2013 12:36am
Quoting neziah
Finally finished this thread:
Got 150 pips from shorting the gbp/usd

thanks to Silat50 for all the valuable contribution.
I am looking to also learn how to re-enter a trade and also avoid potentially failing trades.


Much Pips to all the 7 system traders
You are very welcome. I enjoy helping because so few helped me. And you are one sharp SOB! Thats right. I didnt tel anyone how to re-enter a trade and avoidf potentially failing ones. Good eye!

I was sick for a few days trying to get all this pain medication out of my system thats why I asked you guys if any of you had "suggestions". Im still sick as a dog but I wil try to always come back. Some beautiful setups. some even on the second day into the band!!!! I am short eur/usd. This is just 50-50 but if it drops big we all get plump on this one. I think the eur is ready for a 1 year drop. maybe now, maybe in summer. but eventually. I also am short my favorite pair ands trhat is cad/jpy. I still think the jpm has favors to call in from our fed and they will gladly help.
  • #885
  • Jan 21, 2013 12:43am Jan 21, 2013 12:43am
Quoting haymaker1
Hi Silat not sure if you are using a EA to indicate the trades but I too missed the GBP/JPY play.
I am using the The7EA trading system from this thread (see attatchment below) but it did not pick it up. Clearly just by looking at the chart and using the7 rules it is a clear play, so now Im wondering how many other plays have I missed and should I go back to visually checking rather than relying on a EA.
Also if the EA is wrong I think it should be removed from the forum, but before anything drastic is done can you guys check it out to see if you...
Haymaker, I use nothing but my eye. Why use an EA for a system so simple, right?
  • #886
  • Jan 21, 2013 1:37am Jan 21, 2013 1:37am
Hi Silat,
Good to see you back. Sorry to hear you have been sick, get well quickly.
Didn't have the best results last week, got out at break even on a few trades after a couple of days in red and inaction, only to see them moved into what would have been profitabe trades. Lessen learnt, trust the system.
I had a good feeling the JPY crosses would fall this morning ( my indicators were showing extremely overbought ) so I went short on six pairs and picked up over 300 pips in an hour or two. Will wait now for a little retracement before again going short. Not to the rules but could not resist urge to take the trade ,then the profit.
I am getting more excited about this system the more I study it. I will have to learn however, to turn the pc off and not look at it until the next day, because having been a very short term trader, as every retracement in price occurs I have the urge to hit the close trade button. Hopefully time will cure the urge.
Greg
  • #887
  • Jan 21, 2013 5:06am Jan 21, 2013 5:06am
Quoting prosper1
So Mixter have you weighed the missed tops and bottoms the 7 signals nail that the 50SMA
will not catch, against how it helps you not trade against trends?
That's the trouble with using MA's. They will keep you from trading the wrong way in a strong trend
but the flip side is you will miss out on the killer tops and bottoms which rack up major pips.
What are your findings?
I should amend my post about 50 sma.

For the add on , the 50 sma is an add on !!! Not for the main system/strategy . ( thanks prosper1 )

You are right about catching the top and bottom, only the 7 system .

After placing the sma , I was hesitant to take trades .( fx tester)

Instead of helping to decide, it acts as a blocker for the main system .

To catch the missed bot/top, the add on with sma was helpful.

Other than this , nothing more on sma .
  • #888
  • Jan 21, 2013 12:40pm Jan 21, 2013 12:40pm
Quoting gregben
Hi Silat,
Good to see you back. Sorry to hear you have been sick, get well quickly.
Didn't have the best results last week, got out at break even on a few trades after a couple of days in red and inaction, only to see them moved into what would have been profitabe trades. Lessen learnt, trust the system.
I had a good feeling the JPY crosses would fall this morning ( my indicators were showing extremely overbought ) so I went short on six pairs and picked up over 300 pips in an hour or two. Will wait now for a little retracement before again going...
Thank you for your good wishes Ben. I have 15 years of trading ewxperience. I know when I am trading with fear, greed or following the rules to a T. . And even I will do better 80% of the time if I place my trade, which in our system is usually at the open but could be at anytime really. I find if I place my trade and shut my computer I too do much better. I want to share a secret with you. Make sure you dont tel anyone else.

The market is going to end up exactly where it wants, no matter how many of us on this thread over analyze and watch it.

However, if you are watching after your bets, I mean trades are in to compare, to learn to analyze things, that is BENEFICIAL.VERY!
But if you are watching so you can get out early and you get nervous, that will destroy you. You have a very self-analytical mind. Im sure you will do well. Here is the question for you Ben you need to ask. Do you want this to take 15 yrs like it did me? Or do you want it to take as short a time as possible? If the answer is b, here is the bad news. Most of the fun we all got into this for in the first place is then gone, because we are just getting in we are done. Not so much fun,right. Well, at 54 yrs old I can give you a guarantee....make 2 or 3 million doing it the way I described and you will have a loooot of satisfaction spendfing that money. More so than the excitement or "juice" of being in action like a poker player in las vegas.(which was my othr prior profession)

I love Paul Newmans quote from Color of Money and he says..........."Money won, is twice as sweet as money earned." This needs to be given a lot of thought why it is so.
  • #889
  • Jan 21, 2013 12:52pm Jan 21, 2013 12:52pm
QUESTION FOR THE THREAD:..Guys, I decided to publish my favorite movie quote on gambling which I believe is the real reason we get into trading. Those who disagree can PM me and I as an ex-professional poker player and gambler in Las vegas will prove it to you. And Id enjoy everyones comments on it. Should be a fun way to break up the monotony of just exits and entries.

Paul Newman in the movie -The Color of Money-----------"Money won, is twice as sweet as money earned."


Can I have a response from you guys and girls as to why you thing this might be true and how it affected you getting into trading.

Lets be honest. If someone offered you, before you ever got into trading and said, Im going to give you 2 choices-Being a Bus driver with pay of $80,000 per year. But your salary will never change. Or being a professional trader $50,000 per year to start with no limit or cap. Which would all of you have chosen? And why?
  • #890
  • Jan 23, 2013 5:50am Jan 23, 2013 5:50am
Reentry aka Add-on :

An hourly bar to CLOSE above/below the high/low of the signal bar avoids some false entries when there is an opp for rentry/add on .

Sometime this may costs bit more, but this will avoid the pain ...

Example NSD/JPY : 10 jan and 14 jan two opps , but the next day set did not give a say go go ..on hourly close above high of these two days .

And the nsd/jpy is in congestion mode now around 100 pips range between open and close for the past 5 days.

Horzontal line above and below the open and close candles will give a new view !!!

mixter
  • #891
  • Jan 23, 2013 5:51am Jan 23, 2013 5:51am
Quoting Silat50
QUESTION FOR THE THREAD:..Guys, I decided to publish my favorite movie quote on gambling which I believe is the real reason we get into trading. Those who disagree can PM me and I as an ex-professional poker player and gambler in Las vegas will prove it to you. And Id enjoy everyones comments on it. Should be a fun way to break up the monotony of just exits and entries.

Paul Newman in the movie -The Color of Money-----------"Money won, is twice as sweet as money earned."


Can I have...
Before trading... A bus driver steady income, benefits, pension.
  • #892
  • Jan 23, 2013 8:09am Jan 23, 2013 8:09am
Thank You very much for the ''The7 Trading System" because you have handed me a exit strategy and also a brilliant strategy to scale in positions on shorter time frames as i trade daily charts.
Thanx a million !!!
It fits perfectly....
  • #893
  • Jan 23, 2013 11:52pm Jan 23, 2013 11:52pm
Quoting Maverick X
Thank You very much for the ''The7 Trading System" because you have handed me a exit strategy and also a brilliant strategy to scale in positions on shorter time frames as i trade daily charts.
Thanx a million !!!
It fits perfectly....

Good for you Mav. Now you can pay us back by letting us now now and then how you do with it on your shorter time frames. Isnt the simplicity of it just too much.

As an aside to all of you, the best futures system I ever saw that worked for 2 years before it fell apart was one where the vendor never told us where he got the entries from, but he always exited at the breach of the high/low of the previous daily bar. And I saw him make 300%-800% annually depending on which index or commodity he played.
  • #894
  • Jan 23, 2013 11:57pm Jan 23, 2013 11:57pm
IS THE JPY CRUMBLING AGAIN?

I almost forgot why I came here. I was doing really really well in all my positions in the jpy pairs when suddenly these last 2 hrs the JPY is crumbling. I may get in early on some of these JPY shorts setting up. WATCH! I told you I felt the USA owes Japan a big favor for buying up 60 billion in bond or 600 billion. They may be returning the favor ...now! Keep cranking it out ,Uncle Ben!
  • #895
  • Jan 24, 2013 7:36am Jan 24, 2013 7:36am
Silat50 prosper1 and gregben check ur pm
Paul
  • #896
  • Jan 24, 2013 8:18am Jan 24, 2013 8:18am
Hello paul, why you don't open your short time's strategy in this foru,? Please let us know, thanks


Quoting paul821c
Silat50 prosper1 and gregben check ur pm
Paul
  • #897
  • Jan 24, 2013 12:05pm Jan 24, 2013 12:05pm
TIP OF THE DAY #2: STOP THINKING.

Please look at the daily chart of AUD/CHF. that is my second favorite pair because its made me more money than any pair.How did I miss this short? Answer: I didnt. What I did do was look a few bars to my left, saw this nice fat almost engulphing bar in a rising trend and then,perfectly, 2 dojis," another doji type bar" for a very nice entry without having too much risk, followed by 2 or 3 small consolidating type bars. Perfect,right? The only problem was I "thought" that it just consolidation for a coninued new high. It was easy to see......"I thought."

WTF!...this system is based on cutting that out of us. Now Im not saying to blindly follow the system but yes, you should when the R/R/ is so huge,a nd we all know, that bases easily break in both directions, regardless of prior direction. period!

This puppy could drop another 200 pips in 2 days ,no problem. But how many of you took this? I say none. Because we all had our S/R lines on the chart and supply and demand fihured in and 50 moving averages to guide us, and if you gavwe me that chart 1000 times, I give you my word, with this system, you would be sought after by every hedge fund in the country within 2 years. IF YOU ONLY TOOK THOSE KIND OF PLAYS. I GUARANTEE IT. I HAVE THE STATS TO BACK IT UP!

So what is the lesson of the day for you guys? Me, I need to vomit a little more and then if I dont take 3oxys for my back pain and pas out, I may consider this a valuable lesson learned.

I'd like some comments. Beginners, fib players, guitar players anyone! LOL
  • #898
  • Jan 24, 2013 12:18pm Jan 24, 2013 12:18pm
Quoting ruben17
Hello paul, why you don't open your short time's strategy in this foru,? Please let us know, thanks

I think most of the others would not mind. But, please if you do, start every single post with bolded OF TOPIC-7 SYSTEM S/D/ VARIATION STRATEGY so beginners here dont walk away in confusion. I woulodnt mind giving it a try....for a while. This thread is dying anyway. But Id want ben and paul to do most of the posting if all of you are ok with that soi it doesnt take us off track from the meat of our system.
Ahhhh..and if you bold it in red or another color, we'll know right away its not the 7 system.

Or........start a separate thread,id enjoy looking at it.
  • #899
  • Jan 24, 2013 12:21pm Jan 24, 2013 12:21pm
There will be new plays ,fresh and ready to get into at 6pm tonight! You wont need to go beyond the basic 20 pair defaulted on your mt4. LOL Happy Hunting. I think today is going to start some new trend changes. Lets dig in,boys!
  • #900
  • Jan 24, 2013 12:37pm Jan 24, 2013 12:37pm
very interesting strategy!
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