The7 Trading System

Thanks JNS. I was trying to infer the complete body of your rules from the chart you attached but I appreciate outlining them explicitly. How long have you been trading your system? Does it have a solid track record? Performance?

Thanks!

QUESTIONS FOR THE GROUP:

Guys and girls, I dont spend time here to lecture and give advice although it seems it has turned into that for the moment. I really am here to hear all of your opinions. (there are no facts in forex) wWhat will make my day is to hear anyone,even a guyt with 2 weeks experiewnce start his post with-----" I cant believe what I discovered on the daily chart this week."

Those moments are what we as traders should all live for. So let me ask all of you, both visitors, lurkers and regulars alike a few interesting questions. I'd really appreciate if you ALL took the time to answer, because its like Im telling you what I myself need to learn. And if you see these questions in 9 months from now or 9 years.....you can still answer them.They will always be valid.


#1-If I were to say something is "off" or has changed the way the pairs trade these last 2 weeks it would be that_______


#2-If I could learn tell the difference between one thing when reading charts that would really increase my success.... it would probably be_______

#3-Is it me who's crazy, or has the market really________ ????????

NOW THIS IS A QUESTION WE MUST HAVE SOMEONE ANSWER FOR US. IT IS NOT AN OPTION. WHO WILL VOLUNTEER TO GIVE US 200 OR MORE EXAMPLES.

In our system, we all have one thing we do in common regardless which pair we play. We wait for bar close on the daily. What we definitely need to know as Ive noticed it in my joking with Paul in the USD/CAD. And it appears it is working in the majority of cases.....IN "THIS" SYSTEM. GETTING IN ON THE BREAK OF THE BAND BEFORE THE BAR CLOSES. ThTA SEEMS MUCH MORE PROFITABLE, AND ALSO SEEMS WHEN THE TRADE DOESNT WORK OUT, YOU ARE EVEN A SMALL WINNER OR A TINY LOSER AS YOU RACKED UP 60 OR 70 PIPS "before" you even officially get in.

So the question is: Should we get in on the break of the band, not on the close of the daily bar!!!!!!!?

But this has 2 answers.-#1 We need to look at it on very big bars where it had a start of 25 or more pips on the outside of the band before even getting in, bars that are almost all body, no tail, and what about bars that have a huge wick on a short setip but the body is just forming or is still small? #2-What if the bars are just average normal size bars, will it leave us enough wiggle room to avoid getting stopped.?

I think the bar that got us in on the usd/cad is a perfect example, a perfect bar to get in on......."especially when the bar before it is weak!"

I am nowe thinking that since this will take months to go over every scenario, I may try this for now........get in on solid bars that are turning into large or giant bars with 2 bonditions....there cannot be a strong ie-engulfing bar in the opposite direction before it, and there has to be at least 25 pips of room to the high of the day so one bad hourly bar doesnt throw us out. And if the wick is very big ,it must be a truly bearish looking cablse(if going shortZ) or you just wait longer or wait till bar close. In other words.......you dont have to jump right in 5 pips after it crosses a band, you can wait 15 min or even an hour.(remember the probability is there is big momentum and we cant wait "too" long")

Id also add in the rule that you cannot take this trade unless you see the bar visibly moving, even if its on an hrly bar. DO NOT USE 5 MIN CANDLES PLEASE!~LOL WE WANT TO GET IN "WITH THE BIG BOYS, NOT RIGHT AFTER THE MOVE WHEN ITS RESTING OR STALLED!

i WILL START USING IT WITH REAL MONEY But micro pips and report back to you guys. NOW i NEED SOMEONE TO BACK TEST IT TOO. 2 OR 3 OF YOU DOING DIFFERENT PAIRS WOULD BE AWESOME AS iM SURE THE RESULTS FROM PAIR TO PAIR WILL NOT BE THE SAME.

But what happens if I get in and then it reverses a little bit and I close even or a small loser for the day, where should i leave my stop, you may ask. If the current bar is too tightsma//, use the previous bar. that one too small? use the bar before that one! Thats how I avoided getting into this usd/gbp as yet as im waitng till the low of 5 bars ago to be broken. I told all of you it was an option.But yes im double lotted in the gbp/aud short.


So answer these and lets see who volunteers. Come on guys, We are a very small team here. We cant afford for even one of you to not contribute. I mean look at that fellow who was nice enough to start a second thread for us to post our trades, and he is not even that active here. Everyone has to chip in!

I am very, very excited about the results of what this will turn up. Besides, isnt it a lot more fun(though riskier) to get in while something is in motion than when the train is sitting still at the station at 5-6 pm? -)



For Walad: We are a laid back bunch. You ask so many questions at once. lol I will answer in bulk by saying this thread was started by a gentleman who no longer is here. None of us have been doing this system very long. Yet out of the 5or 6 active people here, most oif us have a lot of expperience in testing and/or screen time. And no..................nobody is stupid enough to leave a 1000 pip stop. We all know to use common sense here and we PM each other if we have questions as we are all here and we want people here for one reason:::::: TO LEARN! BUT WE ARE ONLY ABOUT PERFECTING THIS SYSTEM. Welcome to the thread. And if you want proof, the best you will find is the snapshot of me having 13 winning trades open at once with this system. Scroll down about a month. We don't brag a lot here and yes, soon I will encourage everyone to put up trade explorers. Enjoy!

Look at the eur/usd. Perfect,perfect example of my last post. if we all got in short at the crossing of the band,wed be up 70-77 pips alread and the day isnt over yet! Its only 12:13. And yes, after 11:45am you shouldnt fear getting in if there is stalling as everyone is at lunch or went home.


We must really look into getting in at the band crossing instead of waiting till bar close/days end. And in fact, thats a new money mgmt method right there. Why not get in at band cross, and also after bars close. If you cant do it, you saved money in one way because it means the trade reversed on you, and if you can have the regular stop loss and another one where you got in if it really ran away. oR USE THE DAY BEFORES BAR CLOSE in extenuating conditions or circumstances.

I hear what your saying but take a look at eurusd 1/15 engulfing candle and then 1/18 dark cloud cover candle. Now if we entered on the norm of the 7 criteria for short we lost. Even if you were like me and used the low of the signal for entry as opossed to the close, still a loss. Thats why I use other indicators to come to a conclusion if its good or not. As for not waiting for the close and jumping in at the break of the band there must be another indicator in play. Any indicator you use during the daily tf is more useful for the close of the candle. If dropping down to the 4hr tf and using say macd above or below the 0 line to help with the decision when it breaks the band. That i think is the first thing to consider(indicator) and using it from the lower tf. As for entry are we going to use say 50 pips or use the high or low of a previous candle. As for backtesting just taking a look to see if the lower tf helps, if it does then the indicator then the entry method. Look at the euraud same thing. thats my spin on it. I think its worth a look but also both pairs were at the top of the fibo and look to be retracing.

Silat50,
I agree with you that in many instances we will get a better entry point using a cross of the band, but I agree with Paul that some indicator would have to be used as a filter.
That being said, it defeats the purpose of why I was drawn to this thread, that is, only taking trades once a day at a set time ( or close to it ) and not being tied to sitting in front of the screen all day.
I am willing to do some backtesting and as I used to mainly trade the EudUsd and EurJpy I will look at those 2 pairs.
As you said if we all do our bit to improve the system it is to everyones benefit.
Gregben

i havent read the previous posts, so i dont if you guys realised a shorting oppurtunity on nzd/jpy ?

dark cloud cover on the daily. red bearish candle closing within the 2 emas.

just waiting for a signal to short on the lower time frames..

With yuh on this one. I will feel much better if we can break thru 77.00 pretty quickly.

Gregben,
It could be an option for people if they wish to use it. I like the simplicity as well and checking once or even twice a day works for me to. But with that said adding another alternative to enter a trade maybe beneficial to some. I'm looking to recognized mis-signals. And if this other alternative signal for entry looks better than a regular signal that could be a potential bad one, I'll take the alternative. I'll play around with some random pairs as well
Paul

Aud/Nzd is looking better on weekly and monthly wise.
Weekly/monthly 50 ema is well above the price .
weekly already shows the signal .
Nearest support bases are broken on weekly as well monthly .
Aug 2011 support base 2300 ++ is holding now .
As per the strategy , the daily add-on /renetry got triggered already .

Nsd/jpy seems to looking for 82.30 area . weekly is well above the upper band , so , no trace for sell as of today.
78.50 resistance is holding this pair now. seems , will pass that hurdle ...

One thing I noticed , if there is a signal triggered from the inside bar formation, it may not go well !!! Gbp pairs ..

mixter

POST 942 question#3- Id like to add to my answer. I noticed today that the GBP.USD which I know for a fact many of you on this thread follow with great interest, had some very unusual trading and nobody caught it. We had the largest hourly volume between 11-noon.

Are they kidding me!


These weird spurts of volume Ive been noticing it,mostly subconsciously, just leapt out at me today. It tells me something that MAY be very important. WE HAVE A CHANGING OF THE GUARD.

Traders dont live forever, and old traders dont trade forever. New traders who have a good run of 3 or 4 years at a firm controlling billions have one or 2 bad qtrs and they are gone. New guys from Harvard,M.I.T., and the best colleges in America have wanna be hotshot traders pounding on the doors of every big trading bank and hedge fund every day. I see by the change in the times the money flow is coming in, ......some of them are making it thru! Good for them. I love success, I love new winners. The world is tired of watching the same faces on tv YEAR AFTER YEAR GIVING US FIANNCIAL NEWS,THEIR WAISTLINES AND BOOB JOBS SAGGING MORE EACH YEAR. MOVIE STARRS WHO HAVE MADE HUNDREDS OF MILLIONS OF DOLLARS THAT ARE IN THEIR 60'S ARE STILL MAKING ACTION MOVIES AND RUNNING AROUND LIKE THEY WERE STILL 33.

Time for the new. In all things. ESPECIALLY MY KEYBOARD THAT ALWAYS GETS STUCK ON CAPS AND i TRY TO BE COOL AND PRETEND i WANTED THE WHOLE MESSAGE THAT WAY.(smile) Sorry folks.

Anyway, it used to be all the money came in the same 4 hours 4 out of 5 days a week. 3-5am in London and 8-10AM in NY. You could be a day trader and work those 4 hours and make more than all the traders working the other 20 hours. its changing. I watch the Asian session know and see a bar complete half of its daily size by 10pm on so little volume I have to stretch my screen to see the volume bars! ARE THEY KIDDING ME! And then it holds up all night and day? WTH????????

Keep your eyes open boys and girls. I think the rotation of the new coming in and the old with their golden parachutes and paid off Beach houses and Villas who want to just relax and F%$k all day,which lets be honest, if you traded that kind of money successfully for several years, you desereve that life. Its what draws many of us here. So....keep your eyes open people and let me know what other "quirky" wierd things you see going on here and there that just cant be accidental. I cant wait for ther next black swan event. These markets have really gotten soooooooo boring to watch. I almopst pity the day traders who put in 8 hrs straight of screen time a day...especially in the asian session. OMG!

lETS SEE WHAT THE NEXT 2 OR 3 MONTHS SHOWS US AND MOST IMPOIRTANT, HOW WE CAN ADD IT TO AND TWEAK THE 7 SYSTEM WITH OUR NEW FINDINGS. I AM NOT EVEN MENTIONING SEVERAL OTHER THINGS THAT ARE REALLY OFF LATELY.

THE GBP/AUD/ GBP/USD TRADES. Guys, look at what I wrote about on these trades. You see what I am talking about now,right?. We aren't even really going anywhere with either trade yet and already we are able to move our stop down to todays close/high and we took off 75 pips of risk in the GBP/USD.

This is the beauty of the system. Time always works in our favor. If you would up in the hospital an hour from now, and you came home 2 weeks later and saw you were still in the trade, you could be 90% sure you racked up huge,huge gains in these 2 trades............by doing nothing!

FOR THE NEWBIES ESPECIALLY,AND I LOVE TALKING ABOUT THIS....WHAT I LOVE ABOUT THE 7 SYSTEM IS PERSONIFIED IN THIS TRADE. WE START OFF MAYBE 50-50 TO WIN. BUT...WE ALSO START OFF OVER 100-1 FAVORITE TO NOT GET STOPPED OUT THE FIRST DAY.(I EXPLAINED WHY IN ANOTHER POST)

If someone asked me what MY objective is as a trader using this system. I would say, its is not to win money. It is to not get stopped out the first day. If we are still alive after day 1, 80% of the time we are in profit or our risk got very small. (smile)

What more can you ask for in any system? If this system was a woman, I'd marry it.

http://www.7image.ru/pics/0213/337815609.png
+65 p.

Today eur/usd +40
http://www.7image.ru/pics/0213/337828474.png

I have long wanted to find something similar. To make it easy and worked.
I think that simplicity will save the world.

Hi all

I have checked this system on 1H for 2 weeks for binary options and I find it very useful

thanks alot

ammar2000a70 ,
I am really interested in binary options as well How did you go about using it .
please share ,I EMAIL YOU.

Binary options and market different things?

Guys,

Most people dont brag about their losing trades, but that is often where the learning experience is. Lets go back to the GBP/USD short. We were officially stopped out on the second day for a loss of about 110-115 pips.

BUT I LOVE IT! It is over 100-1 to get stopped out on the first day, so all we had to do is make it one more day. I told all of you. Every trade I take I look at it in packs of 100. I say to myself "If I take this trade 100 times will I be a winner." If my edge is so small Im not sure after 100 trades which is a small sample to be sure, I usually lose interest and dont take the trade. In any system! But this trade was a clear yes. So I saY GIVE ME THIS TRADE 100 DAYS IN A ROW. And I am almost sure I will be a rich man in a fairly short time. In fact I re,entered the trade as this trades original hig, for it top be broken would to me, signify a whole new trend. What is another 100 pips risk to have the whole trend on your side.

GBP/AUD -Same idea. But I just re entered right now because the origiunal stop was only about 23 pips away. I just took triple my normal position and I am getting at least 20-1 odd on this IMHO. i EITHER LOSE 23 pips or I make 460 pips with no problem. Give me these odds all day.

Remember guys when doing your backtesting, they say to throw out the best and worst trade to get a more true result and I go with that. But...you still need to use those 2 trades at some point because as I keep telling you all. 80% of your profits per yeat will come from 20% of your trades. Maybe 5-10%! You cannot afford to miss them.

Do any of you remember the time you were following a system in day trading and had lost 4 or 5 trades very quickly and you were really disgusted and when the next trade came you said "Ahhhhh let me see how this one does first before I lose any more money, and that trade exploded and kept you in not only all day, but for 2 or 3 days if you hold overnight and would have made your whole week if you just took the trade.

I remember those times clearly. So my suggestion to those who are losing badly and wont take the next trade: TURN OFF YOUR COMPUTER AND TAKE A BREAK FOR THE REST OF THE DAY. IF YOU ARE A SWING TRADER LIKE WE ARE HERE, TAKE A WHOLE WEEK OFF! BUT never, never let the market break it off in your a%$S, by making you watch a winner go by.

And yes, whom ever is trading binary, let us know once in a while how this system is holding up for you. I thought binary trading was only for the day or limited periods. I know in the USA and most countries it isnt offered. Its big in the UK.

Why we always miss the best trades:

Those of you who know me from the past, know I am always saying its the trade you really dont want to take that causes you the most sorrow. And those of you who know me from this thread know I have done well with this system. But I have an advantage over some of you. I SPENT YEARS LOOKING FOR REVERSALS AND LOOKING FOR PIVOT POINTS WITHIN PIVOT POINTS. So this system was made for me because Im used to its rules.

I must say, with all the hoopla and BS aside, even I, am missing the best trades. And I am making the most basic beginners mistake to cause this. And that is there are certain currencies I "know" are weak, so whehn they give a buy signal I ingnore them. I have news, very bad news for you all.....so do most of the retail players,regardless of system they use, and the big boys eat us for breakfast. Example. Look at the daily CHART OF gbp/chf shown here. The buy signal was triggered yesterday. I will bet money that not one of you took this signal. And I will say its 3-1 in my favor not more than 1 or 2 of you did if anyone really did....for real money! Why? The trend is clearly down,right? It cant go up. Pluus it made a lower low while setting off the signal to buy. Is this insane? But thats why the system knows better than us. For me I skipped it because I "know" the GBP is weak. I know the SWISSY is strong against almost every currency now. Those 2 combinations assure me that this is a losing trade, right? So I saw the setup.....and passed! Now look at what pops up the day after the trigger. The most delicious engulfing bar you can imagine. I like these by the way over much bigger ones because the really over sized ones often then waste 3 or 4 bars pulling back.These kind tend to be a launching pad for more immediate gains.

And now that I look at this chart, there is no resistance anywhere on thios chart. To see this go back to its high of 1.5000 looks well within reach before getting stopped out.

The bottom line is this...when you often skip a trade, you usually forget about it and dont come back to check to see how it really did. Well guys and gals....THIS ONE IS IN OUR FACE! WE HAVE TO EAT IT ,NOW!

Moral of the story: Play what is on the chart not in your head!


This is a great example of why the smart "old timers" who say psychology is 90% of trading have no clue. You could have a flawless ability to stock to your plan and have no fear, but if you eliminate the trades that rack up the most gains, youll always be mediocre at best because you are following your brain, which is often following the herd...which is often going straight off the cliff, rather than following the charts.

As an aside, I saw 10-12 trades in the last 2 weeks just like this and no one ever said they were in those trades. That is why this game is so much harder than people think. You are so often acting counter-intuitive. Would we have many boxers in the world if their trainers trained them to walk into their opponents face with their hands down at their sides, even if that trainer was the best in the world. NO!

As my psychologist friend once told me- "The problem with human beings is that we so often want what is no good for us."

Sorry I forgot to give you guys the chart I was saying is a great lesson to us all. Would anyone had taken the trade before that big engulfing bar of yesterday? No way!