I have been using this method for a while now,and I am pleased. The method is 100% rule based, and very mechanical. It does not leave a lot of room discretion. Follow the rules, and you will do well. I have taken the time to master the method by reading and internalizing the rules. I have also added 1 directional filter that works well. For those just starting this method, trad it purely as the author presented it. DO NOT DEVIATE, and you will do well. 3-6 months consistent practice, and you will see the beauty, simplicity and profitability of this method.
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- Post #7,916
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- Edited at 10:01pm Feb 18, 2014 9:47pm | Edited at 10:01pm
Hi everyone! 1st of all, sorry for my English, it's not my native lang..
It's about 4-5 years I know Imran's method and I am still not a billioner.. But I am still absolutely sure it's the one of the best system!
Or rather the best direction for constructing one's own system.
I can see clearly the faults that everybody can do following Imran method exactly. Yes, the signals are "correct", but we should not follow it all the time. I can explain my view of Forex behavior in Imran system's kinds.
There is certain pattern of price movement. Like musical sound.
1. It has the "START", according to Imran system (let's take signal to buy, for example). After some time (long or short) the blue and (later) the red laquerre come to the their very high value (1) and rest there for a while (at least 2 candle). This is the first element of pattern.
2. Then we can see something like signal for sell. But don't do anything! It's only ROLLBACK. The blue and red Laguerre will not reach the bottom together and the price will continue moving upward, higher then the first stop occurred before.
3. The blue and red laguerres reach the top again. I call it "RELEASE". We can release our profit here for safe.
4. The price can not break some barrier, move down a little, then tries to breake it again and again. We can call it THE ENDING. The following signal to sell - is our signal to sell!
All this is the ideal pattern and I spend much time to find you out the examples. The reality contains very many exceptions..
For examples, this pattern does not work precisely on trend. In case of big down trend if you trade on 1 min chart, you should not stop selling untill the red laguerre reach the bottom on 5-min chart. And so on.
And when you see that the laguerre lines are broken all over the places - go away, do not trade!
So, it may be not a clear system yet but the theme for researching.
It's about 4-5 years I know Imran's method and I am still not a billioner.. But I am still absolutely sure it's the one of the best system!
Or rather the best direction for constructing one's own system.
I can see clearly the faults that everybody can do following Imran method exactly. Yes, the signals are "correct", but we should not follow it all the time. I can explain my view of Forex behavior in Imran system's kinds.
There is certain pattern of price movement. Like musical sound.
1. It has the "START", according to Imran system (let's take signal to buy, for example). After some time (long or short) the blue and (later) the red laquerre come to the their very high value (1) and rest there for a while (at least 2 candle). This is the first element of pattern.
2. Then we can see something like signal for sell. But don't do anything! It's only ROLLBACK. The blue and red Laguerre will not reach the bottom together and the price will continue moving upward, higher then the first stop occurred before.
3. The blue and red laguerres reach the top again. I call it "RELEASE". We can release our profit here for safe.
4. The price can not break some barrier, move down a little, then tries to breake it again and again. We can call it THE ENDING. The following signal to sell - is our signal to sell!
All this is the ideal pattern and I spend much time to find you out the examples. The reality contains very many exceptions..
For examples, this pattern does not work precisely on trend. In case of big down trend if you trade on 1 min chart, you should not stop selling untill the red laguerre reach the bottom on 5-min chart. And so on.
And when you see that the laguerre lines are broken all over the places - go away, do not trade!
So, it may be not a clear system yet but the theme for researching.
- Post #7,917
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- Mar 17, 2014 12:38pm Mar 17, 2014 12:38pm
Hi Guys. I'm totally wasted after trawling through this entire thread 
HOWEVER I would like to add some comments to the mix.
I believe this is a good system for the majority of the time when the market is 'behaving itself'. Like most strategies it can be problematic when news is released or when the market decides the time is right to surge in a specific direction that is counter to the setups highlighted by Imran's system.
I notice people were concerned about SL/TP when spreads are quite wide. The answer, as Imran said many times, is to extend the timeframe. If your broker operates with wide spreads then simply go to a higher timeframe and trade off the same chart templates and signalling. For example, see how it looks on an hourly chart. Of course you'll have to adjust stops and profit targets accordingly but this is easy enough. Just place the stop above/below a recent high/low depending on which way you're trading, and if that works out at say 30 pips, set a profit target at 45 pips. That way if you're only right 50 per cent of the time you'll be a big winner overall, especially if you run it on several pairs simultaneously. In short, if spreads are wide, go to higher timeframe and extend SL and TP and be patient.
Conceptually this strategy could easily be configured as an EA, but because of filtering and the timing of news releases I'd suggest even if you DID configure it as an EA you shouldn't just let it run because at times you will want to shut it off [NFP Friday for example].
I'm not sure what went wrong with Imran managing money using this strategy [according to recent comments]. Certainly current market conditions would seem to favour it for sure, I can only assume he let his emotions overcome his discipline. Easily done. For my part I've started using this strategy to get me into trades, but I'll normally take half of the profit off at the TP, move the SL to break even and let the rest run until a spike in my favour gives me some gravy. Seems the best compromise.
This strategy is no worse than any other, and in my experience it is better than most, for giving relatively safe entries. However ALWAYS use stops, and try to better manage the profit taking - overall I think you'll be successful running this strategy, when there's momentum in the market and with a healthy ability to avoid trading when the conditions just aren't right.
btw Thanks to Kadimsky for the above filtering post
HOWEVER I would like to add some comments to the mix.
I believe this is a good system for the majority of the time when the market is 'behaving itself'. Like most strategies it can be problematic when news is released or when the market decides the time is right to surge in a specific direction that is counter to the setups highlighted by Imran's system.
I notice people were concerned about SL/TP when spreads are quite wide. The answer, as Imran said many times, is to extend the timeframe. If your broker operates with wide spreads then simply go to a higher timeframe and trade off the same chart templates and signalling. For example, see how it looks on an hourly chart. Of course you'll have to adjust stops and profit targets accordingly but this is easy enough. Just place the stop above/below a recent high/low depending on which way you're trading, and if that works out at say 30 pips, set a profit target at 45 pips. That way if you're only right 50 per cent of the time you'll be a big winner overall, especially if you run it on several pairs simultaneously. In short, if spreads are wide, go to higher timeframe and extend SL and TP and be patient.
Conceptually this strategy could easily be configured as an EA, but because of filtering and the timing of news releases I'd suggest even if you DID configure it as an EA you shouldn't just let it run because at times you will want to shut it off [NFP Friday for example].
I'm not sure what went wrong with Imran managing money using this strategy [according to recent comments]. Certainly current market conditions would seem to favour it for sure, I can only assume he let his emotions overcome his discipline. Easily done. For my part I've started using this strategy to get me into trades, but I'll normally take half of the profit off at the TP, move the SL to break even and let the rest run until a spike in my favour gives me some gravy. Seems the best compromise.
This strategy is no worse than any other, and in my experience it is better than most, for giving relatively safe entries. However ALWAYS use stops, and try to better manage the profit taking - overall I think you'll be successful running this strategy, when there's momentum in the market and with a healthy ability to avoid trading when the conditions just aren't right.
btw Thanks to Kadimsky for the above filtering post