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Trading System and Strategy Review

  • #1
  • First Post: Oct 29, 2016 8:12am Oct 29, 2016 8:12am
Just thought a thread where people can voice their honest opinions on various trading systems that are continuously posted here on FF. Most of the time the discussions happen within the thread of the trading system and if your on the wrong side of the fence your very quickly overwhelmed.

This thread is not meant to just abuse other FF users or single out threads or people. But more a place for a non biased (If that is possible) discussion and personal review of various systems.

Just like anything, would be good to hear peoples honest experiences in the various systems they have tried and what they may have found to be good, bad or what they think may improve it?

Not sure if this thread will kick off but just something i wanted to try.

For example, you tried so and sos trading method. Was it good? Bad? Why? Out of 10?
  • #2
  • Oct 29, 2016 8:17am Oct 29, 2016 8:17am
Great idea!
  • #3
  • Oct 29, 2016 8:38am Oct 29, 2016 8:38am
I've tried alot of different systems/strategies here on FF. But the hardest part for me is getting the exit right. Alot of strategies focus on the entry, but not on the exit/money management part. One thread (pivot trading by Davit, in the interactive trading section on FF) helped me with this, by entering with multiple small lots, instead of one fixed lot with a fixed stop loss, he enters with multiple smaller lots to scale into the move and exit on different places in price action.
  • #4
  • Oct 29, 2016 8:46am Oct 29, 2016 8:46am
Quoting TheJube
I've tried alot of different systems/strategies here on FF. But the hardest part for me is getting the exit right. Alot of strategies focus on the entry, but not on the exit/money management part. One thread (pivot trading by Davit, in the interactive trading section on FF) helped me with this, by entering with multiple small lots, instead of one fixed lot with a fixed stop loss, he enters with multiple smaller lots to scale into the move and exit on different places in price action.
Hi TheJube,

Yes i agree. I too find most strategies fail to answer the all important question of exiting trades.
  • #5
  • Oct 29, 2016 10:05am Oct 29, 2016 10:05am
Most of the systems posted here are really not systems. They are someones brilliant idea of what might work and they present it as something it is not. Show me a verified track record of at least 3 months (even if its demo) and then it might be worth a look. Otherwise you are just getting a guru with a good idea looking for beta testers for his strategy. By the way your idiots guide to forex systems on the false profit thread is a classic. That should be the required first post of any system posted here.

As for opinions on systems, that is very tough to answer. So many different styles of trading and everyone gravitates to the style that fits there comfort level. Whether that be scalping, trend following, naked charts etc.. So Im sure you will get a wide range of opinions.
  • #6
  • Oct 29, 2016 10:27am Oct 29, 2016 10:27am
Quoting thorn
Most of the systems posted here are really not systems. They are someones brilliant idea of what might work and they present it as something it is not. Show me a verified track record of at least 3 months (even if its demo) and then it might be worth a look. Otherwise you are just getting a guru with a good idea looking for beta testers for his strategy. By the way your idiots guide to forex systems on the false profit thread is a classic. That should be the required first post of any system posted here. As for opinions on systems, that is very...
Couldn't have said that better myself.

Yes, im sure everyone will have different opinions. But will be nice to hear if anyone has had an unbiased and real attempt of a system and can comment on what they think in an intelligent educated manner. Perhaps not the $100 - $50,000 in 1 month type systems.
  • #7
  • Oct 29, 2016 10:40am Oct 29, 2016 10:40am
Well, i would like to review a system i now use to trade with, but with my own little twist.

http://www.forexfactory.com/showthre...87#post9224087

This system is rather simple in its essence. It is basically a trend trading system and looks at entering trades on pull backs in trends. After the thread started to kick off, some people created indicators with alerts that alert you to when the set ups occur making it even easier to trade. The system itself is simple but the rules have always been a little fuzzy, thus the need to learn it, use it and develop your own strategy.

The good':
Once you get to know the strategy, its very simple to use and trade with and the inductor available to give signals included sending signals to the MT4 app on a smart phone makes it easy to trade without having to stare at the screen for too long.

The Bad:
All due respect to the OP of the thread, however the explanation of entry and exit has always been very fuzzy. Mostly people are told that this trade should not have been taken because of this or because of that. So some prior trading knowledge is required so perhaps not for newbies. There is also no real trade exit strategy. The OP trades as a basket with a $1000 weekly goal but other then that no real exit or RR strategy.

Conclusion:
Of course i will say its a nice system as it suits my trading style and i have managed to use it rather effectively in my trading. Not a trading strategy i would suggest to Newbies as there is a little chart and trading knowledge required to be able to best try and filter out the bad trades.
  • #8
  • Oct 29, 2016 11:58am Oct 29, 2016 11:58am
good thread idea, congrats!

it is very hard to get a system graded without bias, most thread you look there is hardcore followers, and if you ask questions you wont be welcome. the same time often the rules are unclear, very few if any use a trade explorer where a new trader could check/compare real entries with his, and often it seems that they omit to post inevitable losers.
all said, here is something i like.

http://www.forexfactory.com/showthread.php?t=590623

a long time follower of the idea, finally a chance in my work schedule allows to live test it, as suggested by OP.
the results are promising, just need more data before a summary ( and as often, maybe a bit of personal tweaking).

the good:
simple enough entry and exit rules, with position management, and fixed SL at start. high hit rate of BE or better, few losing trades. money management would allow to trade it relative safe with higher leverage smaller accounts too. no double down, martingale, teach and enforce good trading habits.

the bad:
not suits newbie traders because you need to be little selective in entries for best results, or part time as needs few hours a day screen time to put in for results. chances are it wont give you 100s of pips to brag about. (not really bad, just for those who looking for these)

conclusion:
i sincerely believe it is one of the best manual trading system out there, with the built in money management.
there is always, always another trade!!
  • #9
  • Oct 29, 2016 12:10pm Oct 29, 2016 12:10pm
Quoting profitfarmer
good thread idea, congrats! it is very hard to get a system graded without bias, most thread you look there is hardcore followers, and if you ask questions you wont be welcome. the same time often the rules are unclear, very few if any use a trade explorer where a new trader could check/compare real entries with his, and often it seems that they omit to post inevitable losers. all said, here is something i like. http://www.forexfactory.com/showthread.php?t=590623 a long time follower of the idea, finally a chance in my work schedule allows...
Thanks for the review profitfarmer. Yes, as you say, die hard fans make it hard to question, ask the wrong one ( or any in some cases) and the witch hunt begins!
  • #10
  • Oct 29, 2016 12:12pm Oct 29, 2016 12:12pm
Quoting mrhigurashi
Well, i would like to review a system i now use to trade with, but with my own little twist.

Conclusion: Of course i will say its a nice system as it suits my trading style and i have managed to use it rather effectively in my trading. Not a trading strategy i would suggest to Newbies as there is a little chart and trading knowledge required to be able to best try and filter out the bad trades.
Well that about says it all. YOU did the WORK to adapt it to your ideas,style and comfort level. You understand the good parts and any risk involved in trading it. Such simple things over looked by so many expecting to get spoon fed a profitable system.

I could do a review of an EA I use but I have changed the original concept and added a large component of manual trading to it. So I dont think it would be fair to review something I chopped up and spit out that is totally different than what the OP presented. In 3 months of demo I am happy with the results and that is all I care about.
  • #11
  • Last Post: Oct 29, 2016 12:48pm Oct 29, 2016 12:48pm
I've been on FF now for more years then most, seen it and got the t-shirt (literally i have a FF t-shirt lol). It's pretty simple really. don't waste your time on Anyone who claims 90% or 95% success rate as their full of shit or their system has a R:R of 1000:10 and will one day get wiped out. These threads pop up every month only to bite the dust a few months later.

If a guy doesn't put a trade explorer up (even a demo would do), makes crazy 95% claims and publishes 'cropped' pic's of his results then he is an attention seeking forex loser. I know you didn't want to single people out but I will give a few examples. This weeks prize goes to Ghostbiker and BWforex.

Look, We are all attracted to the thought of a 'holy grail' strategy but lets Use common sense. there is nothing magical. if it was then these guys would be millionaire by now!

Markets are pretty simple, they go up and fade..then go back down, or vice versa. They often make new highs and lows then turn back. e.g. if its making HH and HL, look for a break of the HH and wait for a pullback (find YOUR way of identifying a possible pullback situation...this has to make sense to YOU). If your wrong what do you do?? SL or wait for another pullback signal and enter again? Hedge or double up????? what ever make you comfortable and makes sense.

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I said to myself not to get 'seriously' involved with another thread on here yet here i am
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