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Attachments: ProFx 3.0 - The System for real Traders!
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ProFx 3.0 - The System for real Traders!

  • #21
  • Feb 28, 2014 7:28am Feb 28, 2014 7:28am
Good morning,
What TF and pairs do you recommend?

thanks
jean-francois
  • #22
  • Feb 28, 2014 7:46am Feb 28, 2014 7:46am
Quoting le celte
Good morning, What TF and pairs do you recommend? thanks jean-francois
Hello Jean-Francois,
the manual recommends using it on the M30 chart for day trading and on the 4H chart for swing trading. I guess it's because on lower time frames, it produces more false signals. However, if you are familiar with the basics about trading (pivots, trend, SR), you can also use it on the M5, and M15 chart as well.
Greetings,
Josef
  • #23
  • Feb 28, 2014 8:03am Feb 28, 2014 8:03am
Josef, I was wondering about the 5min myself, could you be so kind as to upload a couple of screenshots with entry and exit...........it would be a great help to familiarize with the strategy......thanks - great job!
  • #24
  • Feb 28, 2014 9:57am Feb 28, 2014 9:57am
Quoting josef
{quote}... you can also use it on the M5, and M15 chart as well...
Thanks Josef,
Finally I bought it!

Happy week-end
jf
  • #25
  • Feb 28, 2014 10:03am Feb 28, 2014 10:03am
Anyone interested in forming a skype group for this........could learn together!
  • #26
  • Mar 1, 2014 3:21am Mar 1, 2014 3:21am
Quoting josef
... I used it on the five minute chart with SL of 20 pips and TP of 40 pips...
Hello Josef,
I'm curious to know what criteria you took these trades?
Of course there are many signals (arrows) ProFX per day in TF M5.
If taken all during open / close London I seriously doubt whatsoever winner ....

belle journée
jf
  • #27
  • Mar 3, 2014 4:56am Mar 3, 2014 4:56am
Quoting le celte
Good morning, What TF and pairs do you recommend? thanks jean-francois
I would start with M30 TF and use one pair. Once you're familiar with it; you can use it on multiple pairs and time frames.

Quoting kaiser soze
Josef, I was wondering about the 5min myself, could you be so kind as to upload a couple of screenshots with entry and exit...........it would be a great help to familiarize with the strategy......thanks - great job!
The system itself has been designed for the M30 chart. On lower time frames, it works well too, but you will also receive more false signals, which need to be filtered out manually. To get familiar with functions and features, I would recommend you to take a look to Marc's review video. http://www.youtube.com/watch?v=pcIUtWkzLHQ
Quoting le celte
{quote} Hello Josef, I'm curious to know what criteria you took these trades? Of course there are many signals (arrows) ProFX per day in TF M5. If taken all during open / close London I seriously doubt whatsoever winner .... belle journée jf
On the M5 chart, you will need to filter, out false signals manual. Personally, I do not take any trades against the main trend and try to stay away from choppy market conditions.
  • #28
  • Mar 3, 2014 6:24am Mar 3, 2014 6:24am
Good day, February is over; we crossed the finish line with almost 10% profit in our pockets. Here the actual stats:

Since Inception: +171.82%
Last 3 month (90 days) : +48.31%
Last month (30 days): +9.32%

http://i.imgbox.com/93Bzl3uh.png

Detailed information can be viewed on our homepage: http://bit.ly/1fUmgRW
  • #29
  • Mar 3, 2014 2:49pm Mar 3, 2014 2:49pm
I understand this is not a automated EA, it just uses email alerts. Why?
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #30
  • Mar 4, 2014 11:41pm Mar 4, 2014 11:41pm
I am wondering about this too. If the signals are so clear and if it works on any timeframe / pair, why didnīt the creator automate it? I mean even the newsfilter could be automated, so I donīt see why this canīt be an EA. Or is there a reason because the backtest doesnīt look to good?
  • #31
  • Mar 6, 2014 3:06am Mar 6, 2014 3:06am
Quoting Freefox
I understand this is not a automated EA, it just uses email alerts. Why?
Quoting geektrader
I am wondering about this too. If the signals are so clear and if it works on any timeframe / pair, why didnīt the creator automate it? I mean even the newsfilter could be automated, so I donīt see why this canīt be an EA. Or is there a reason because the backtest doesnīt look to good?
ProFx 3.0 is based on technical and fundamental analysis and while it would be no problem to automate the technical analysis part, it is not possible to create an algorithm for the fundamental part. That's why ProFx 3.0 is not a fully automated system.
  • #32
  • Mar 7, 2014 3:53am Mar 7, 2014 3:53am
Quoting A. Collins
{quote} {quote} ProFx 3.0 is based on technical and fundamental analysis and while it would be no problem to automate the technical analysis part, it is not possible to create an algorithm for the fundamental part. That's why ProFx 3.0 is not a fully automated system.
Thanks for that reply BUT ....

...The vast majority of traders have no idea of fundamentals so how exactly would someone trade this and filter the signals based on having to know a required bias? Seems to me there is a great deal of subjectivity needed here. Do you offer guidance in from of daily updates/emails regarding the fundamental situation of a pair to help the trader?

And as fundamentals do not change often (certainly not daily anyway), why not automate the technical analysis part (you say there is no problem with that) and then the trader can set it to take either Long only trades or Short only trades based on the fundamental bias on the pair as this doesn’t change all that often?
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #33
  • Mar 7, 2014 11:00am Mar 7, 2014 11:00am
Thatīs the point... I had traded Pro FX 2 a while back and it doesnīt look to different from Pro FX 3 only that it didnīt have any news hud - which actually was never a problem since there are enough sites offering news. However, I didnīt make any money with it, to much interpretation left on if to take a trade or not. Itīs not the "100% clear entries" as advertised on their site and I doubt thatīs different for Pro FX 3 given that it looks like 2.
  • #34
  • Mar 9, 2014 4:22am Mar 9, 2014 4:22am
Quote
Thanks for that reply BUT ....
...The vast majority of traders have no idea of fundamentals so how exactly would someone trade this and filter the signals based on having to know a required bias?

Let's assume you have an open long position on GBPUSD. When actual (important) GBP news comes out better than expected, you would keep the position open while you would have to close the position immediately when the news comes out worse or much worse than expected.

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Quote
Seems to me there is a great deal of subjectivity needed here. Do you offer guidance in from of daily updates/emails regarding the fundamental situation of a pair to help the trader?

No. Better and worse than expected news are displayed in different colors. This makes it very easy to interpret them correct. E-mails about fundamental situation are not provided from our side because for day trading the actual numbers are the only important data.

------------------


Quote
And as fundamentals do not change often (certainly not daily anyway), why not automate the technical analysis part (you say there is no problem with that) and then the trader can set it to take either Long only trades or Short only trades based on the fundamental bias on the pair as this doesn’t change all that often?

The overall fundamental situation does not change very often, you are right. But as I mentioned for day trading only the actual numbers are interesting.

------------------


Quote
Thatīs the point... I had traded Pro FX 2 a while back and it doesnīt look to different from Pro FX 3 only that it didnīt have any news hud - which actually was never a problem since there are enough sites offering news.

You are right, ProFx 3.0 looks similar. It is because there is no better way to display trading signals. Yes, there are a lot of websites with Forex News. But you have to consider that most traders use only one screen, so they can look either on the news website or on the chart. ProFx 3.0 displays them directly on the chart, plus users have the possibility to choose which news they want to see (shared by importance) and you will be automatically notified when new news is available.

------------------

Quote
However, I didnīt make any money with it, to much interpretation left on if to take a trade or not.

ProFx 2.0 is one of the most popular manual trading systems ever released, but as you said, it required some interpretation and although it helped many traders to archive consistent profits, not all succeeded. You have to keep in mind that a profitable trading system alone is not enough to be a successful trader. Money Management, Trading Plan and last but not least psychological factors play a very important role too.

------------------


Quote
Itīs not the "100% clear entries" as advertised on their site and I doubt thatīs different for Pro FX 3 given that it looks like 2.

As I already mentioned ProFx 2.0 and 3.0 look similar but that's all what they have in common.

------------------


Quote
Or is there a reason because the backtest doesn't look to good?

Several users created EAs for ProFx 2.0 and test results were looking good. I believe an EA based on ProFx 3.0 would show even better results because the signals are much more accurate. However, as I said, the system itself uses technical and fundamental analysis. Cutting out the fundamental part would make it much more dependent of market conditions and that is not what we want.
  • #35
  • Mar 9, 2014 5:20am Mar 9, 2014 5:20am
Several years ago, we developed an EA for ProFx 2 at donnaforex and the results were actually looking promising. Anyway, we never used it for live trading because the manual trading results were much better.
  • #36
  • Mar 14, 2014 6:19am Mar 14, 2014 6:19am
Market conditions are completely weird at the moment. Is your ProFx 3.0 test account still alive Josef?
Ciao
Mark
Almost got it or far far away. Result is the same - you didn't get it!
  • #37
  • Mar 14, 2014 8:32am Mar 14, 2014 8:32am
Quoting MarkRox
Market conditions are completely weird at the moment. Is your ProFx 3.0 test account still alive Josef? Ciao Mark
Yes, thank's to the ukraine crisis markets are a bit nervous. Anyway, account is still alive, yes.

http://www.myfxbook.com/members/Jose...30-test/850004 (http://www.myfxbook.com/members/JosefK/profx-30-test/850004)

http://widgets.myfxbook.com/widgets/850004/large.jpg

Happy Trading!
  • #38
  • Mar 14, 2014 2:57pm Mar 14, 2014 2:57pm
Good evening, another week is over and it's time to provide some up to date performance figures.

Since inception: +182.45%
Last 90 Days: +35.79%
Last 30 Days: +6.24%

http://i.imgbox.com/m1V3zhx2.png

All details can be viewed here: https://bitly.com/1fUmgRW
  • #39
  • Mar 15, 2014 6:19am Mar 15, 2014 6:19am
I just ordered it. Josef, do you use it only on the M5 TF or also on other?

Oliver
  • #40
  • Mar 17, 2014 8:59pm Mar 17, 2014 8:59pm
Would someone please post the Manual for ProFX 3.0. I don't need the system, just the manual.
Thanks
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