Price Trap Eur/Usd 1 MIN

Hi Whatfx,

I understand that you are frustrated because the system is not improving. Improving a trading system means adding filters to prevent the fakes. Filters are indicators. This is what RAZ does not want. One of the main aspects of RAZ's system is that it is naked, with no indicators.

Nevertheless, everybody can use filters, indicators, modifications at his own discretion without messing up the thread.

I have read the whole thread and done few hours of practice with the past charts. If I decide to go live with this system, I will definitely go with the major trend (H1 & H4) only, will have weekly pivots, and will have main Fibo levels on the charts.

Please also remember, the market is extremely choppy, sloppy, and jumpy.
Moreover, we are in December. It is a horrible time to trade. No EA, no system holds in this environment. Keep your trades and lot sizes to the minimum if you can. With this system, 2012 will be a good year. :-)

I stumbled across something that might help in case anyone is having trouble figuring this thing out. This system is essentially a very refined version of a very simple and timeless fx strategy. You can find it here:
http://www.bestfxtradingsystems.com/
Look for what he calls the 123 MW system. His explanations are simple and easy to learn. Master that and then come back here and add Raz's refinements. It will be much easier to get the hang of it.
GOOD LUCK AND MASS PIPS TO ALL!

HAPPY BIRTHDAY, RAZ!!!

Hi RAZ:
is the Skype room still active? I've added your ID as a contact. if you missed that plz add me as your contact. my Skype id is nwaysoft

I have gone over your thread and I'm very excited about starting off the system along with other guys following it in your Skype room with you.

Thnx.

We often jump from startegy to strategy. This thread looks very quiet now, no leader here so people dont have confidence to trade.

Hi Raz,

I don't know if you every check on this thread since you stated you no longer
trade this method, but I have used this method since discovering it & I wanted to
say it has been working for me, but as you stated it can be unpredictable at times
according to the pair you are trading. This is not my main method that I trade, but
I use it at times. Favorite made a good suggestion about using
the one 1 Hr time frame to keep you with the trend & I also use that, but no indicators
at all.

I want to say thank you for sharing with your fellow traders & I hope whatever method you
are using is working well for. Best wishes for you in 2015 my friend.

Hello all..

This thread is very interesting, because the O.P. is clearly frustrated as to the lack of stability of his entries. I would like to point something out to you which may change your opinion on this setup.

1) If you are trading the 1m chart, the wicks which you see is meerly a representation of what we call the "tick chart". Instead of setting buy/sell stop orders at what you have seen as the high or low, why not open the trade once the price closes ACROSS the high or low. If you do so, then you are entering on what would be an ENGULF if the last known high or low, which of course would be a confirmed extension or reversal.

2) Understanding the dynamics of the 1m will actually help you a lot in getting an accurate entry. So say you have several rejections to the upside at say 1.23002 Once a 1m candle (no matter how long it is) closes across 1.2302 then you SHOULD take the long, with your sl being a CLOSE under the low of the candle which you entered in.


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http://prntscr.com/5odye1

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Please click the link above, and have a look at how it applies to rule number 1 and rule number 2.

1) The blue box is the high after the first color change.
2) You then see we get a close across that price (red arrow pointing up) so there you buy.
3) Next candle ENGULFS it (red arrow pointing down)
4) And from then it never looks back as it attacks the low.

Everyone on 1m should be based on closes and not pending orders. You will end up getting caught in whip lashes, and if you are a bias trader you will end up holding positions which you shouldn't. Remember that 1m and tick charts are the mothers of everything you see on 5m and higher. It is impossible for a trend on the 1h chart to reverse if it has not done so first on the 1m.
Should you find the information I have provided helpful it would be my pleasure to continue to add more information in your quest to 1m chart domination.

There is nothing wrong with your system, Forex is unpredictable!

I'd say you are correct about it being unpredictable, but most people are trying to predict tops and bottoms, and following saying that the TREND IS YOUR FRIEND, instead of respecting RULES which are held in the time frame that is mentioned in this thread.