Do you adjust the bid/ask depending if long or short?
.but this is an excellent one and it should remain visible…
I hope not violate forum rules… I am not trying to increase the thread’s viewings, but rather
I am trying to get more people to engage with the possibility of a profitable system… It seems
a shame that so much effort should sink, unnoticed, down to page 345 
To be fair it’s a system you would need to be running for at least a month before assesing it’s potential. So there may be followers who simply haven’t posted yet.
Also Its in the beginner section and I get the impression most beginners on here want to be in and out of the market 20 times a day not put there money in a system and let it run.
It’s a great little set up imo though and I am trying it out with a small amount at the moment.
But Nero did say at the start it won’t help anyone I think he’s probably right for the most part.
Hello PMH,
I am experimenting with this system since it does not take much of my time and I am trading small positions. I am only working with 2 pairs to start, EUR/USD and USD/JPY.
My first trade on EUR/USD was a short that resulted in a loss of -98 pips. I then immediately entered long on May 15 and currently have locked in profit of 120 pips.
My first trade on USD/JPY was a long that resulted in a loss of -13 pips. I then immediately entered short on May 16 and currently have locked in profit of 74 pips.
Like Donovan said, it will take time to do a reasonable evaluation but I like what I see so far.
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I am still tracking this with Crude Oil (WTI) and am now on the 4th trade. Results so far:
+408 (2.3.-29.3.)
+383 (29.3. - 18.4.)
+455 (18.4. - 11.5.)
+353 as at close 24.5. (still open entry 47.73 on 11.5. stoploss at 48.03 from 18.05)
BUT…a word of warning: Crude has been moving this year in exceptionally smooth and regular cycles. I don’t consider these results typical when compared with backtesting through end of last year. But they [I]are [/I]results!
I would also emphasise here that, if I have understood the method correctly, its strength lies in following 5-6 (preferably non-correlated) securities and not any particular one on its own. In this way the exceptional results from the winners cover the more moderate losses on the others.
So Crude Oil certainly looks like a good candidate as one of the portfolio securities, but I would not recommend applying this method [I]only [/I]to Crude - but that is not, as I mentioned, the idea here anyway.
Update to yesterday’s post:
From the point of view of the characteristics of this method, yesterday was an interesting day.
The current open position mentioned in the above post had a marked-to-market gain of 353 pips with a stop at 48.03. As we saw, there was subsequently a major collapse in Crude Oil prices yesterday following the OPEC meeting (see “Trading Crude Oil” thread if interested to learn more about that) …but it did not fall enough to stop and reverse the position with a daily low at 48.435 - so the position remained open all day and was still open and long this morning at the open.
But, naturally, yesterday’s low now became the lowest low of the previous 5 days, and so the position is now stopped, today, and reversed at 48.435.
This is interesting in that despite the fall yesterday it still closed with a profit of 71 pips - which is still a good result - but fell from a potential gain of +353 pips - is that also good? Or is there a way to avoid such giveaways?
Trailing stops are definately NOT the answer because that destroys the whole concept of a 5-day low which is at the very heart of this method.
But, I am wondering, is there any sense in identifying what is a “normal” type gain for the market concerned and reacting if and when the price moves into that “typical” range? For example, with this Crude trade, it was already clear that the price was approaching levels that could be considered limiting without additional structural input (e.g. from the OPEC meeting) and that the existing gain of 300+ pips was already within a typical gain seen so far this year. Maybe in these types of situations there is an argument to “step in” and lock in a reasonable profit with a change in stop level, regardless…?
But, of course, this method is designed to work [I]without [/I]any additional thinking or analysis - and it did exactly that, for the fourth consecutive gain - and one can’t knock that! 
Manxx, thanks for sharing that. It sounds like one can’t protect against a large move against you. The only hope is that you have locked in enough profit before the move.
I had the opposite happen to me on USD/JPY short. When I opened the position, my SL was 150 pips. The next day, the position moved [B][U]250 pips in my favor[/U][/B]. So now my SL was close to 400 pips away. I did not want to give it time to come back without locking in some profit. So I moved my SL to 150 pips, even though it was significantly lower than the 5 day high. This allowed me to lock in some profit and still give the position a good amount of “breathing room”.
Which brings me to what to do when coming into the weekend. A big gap against you can easily blow past the SL and give away all the locked in profit. What I will do is close my positions before the Friday close. If it opens after the weekend at about the same level, then I will immediately reenter the position. If it makes a big gap then I will have to decide what to do at that time.
Personally, I think that sounds very wise!
Although Turbo promotes the method as one that does not require additional thinking , analysing or guessing, etc, it doesn’t mean one [I]cannot [/I]excercise discretion when it seems appropriate and prudent. I am sure Turbo would fully agree that risk management and profit protection are worthy considerations when one is already sitting on a good profit. As they says,[I]“a bird in the hand is worth…”[/I]
Congratulations on your trade!
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Hi all, i’m trying ths system aproximetly 2 months… i’m seting positions and stop loses every morning, when i came to work… i’ll paste details of my demo account but initially i should say, even if you are really in profitable area in general, you usually get bad results because of stop losess… i paste couple of posts earlier in this thread which shows that almost all 14 pairs are in profitable area, in the history tab you see that your trades are always closed with negative values… i must admit that, turbo said that you should open maximum 5 or 6 trades in the same time but i just want to give a try to whole system than i’ll analyze results… and i must add this also that i’m useing high 5 method for all 14 paris except nzdusd… i got very bad result on usdnzd and us500 so i quit trading on us500 and evolved high 5 to high 40 on trading nzdusd…
After couple of week, i’ll try to setup new orders in the begining of week and going to close at the end of week…
These are my open trades:
as you see, most of them are in profitable area, actually total earnings was aproximetly 200 dollars at the morning but now it’s pulled back to 150 dollars…
and these are my history results…
in totall, loss of 148 dollars
as i said before, may be i must choose right pairs or i must edit the system to get much more profit… i am now just collecting raw data… if manxx, pip me happy or espasially turbo helps to make this system more efficient, that would be greate…
I KNEW this trading style looked familiar.
Thanks a ton, Miss. 
Tilden, you probably know more about trading than I do, but I feel it owe it to the Beginner’s Forum to throw out a caution here.
Turbo said when he was outlining the plan that it was for a trending market. He even gave instructions on how to exit and track ranging markets until they start trending again.
MissCroft, who I quoted above, mentioned that this system is similar to the Turtle system, and that system is known to have long periods of draw down while the trader is waiting for a breakout.
Turbo stared at the start of the thread that his intention was to provide a system that someone who knew nothing about the market would be able to follow. Well, if you know nothing about the system then you won’t understand why it’s profitable under certain market conditions, and you won’t understand why it’s NOT profitable under other market conditions. What’s worse, you may not be able to recognize changing market conditions and not be able to recognize that it’s time to abandon one trading system for another.
I’m pretty sure Turbo also explained how to identify a ranging/trending market with a quantified & descriptive approach. This alone is how a new trader would identify changing market conditions.
There is a fine line between being able to trade and not being able to trade successfully and proficiently. Whilst I believe that (almost) everyone can become a profitable trader, they certainly need to have the correct attitude and mindset - if they can’t even work out the basics for themselves then in all honestly they are in the wrong business.
You’re only as good as your bankroll, and you live and die by the sword in this career. There is no forgiveness for being lazy and not figuring things out for yourself.
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Profit taking will not be learned in 1 day or month. It is a long process and take lots of knowledge and practice. Profits will start coming when you got one method and it will be good.
Have you taken the time to actually read the thread bro.
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Thank you Nero for this system. I have learned lots from reviewing the strategy. Could you please clarify if the entree orders and stop loss should be triggered through stop buy/sell order or through stop-limit orders. I would think that the advantage for a stop loss order is to sell the security in case the price gaps and the limit never gets triggered. This would result in a loss possibly greater than the max of 2% per available balance but still cut the losses short. We can try to minimize the problem by trading very liquid securities as you’ve stated.
What is your take on the entree method to be used?
I have been testing this risking 50p a pip through a spread bet company.
Results from may were a £37.50 loss, this has to be taken though with the fact I didn’t open 5 positions at once rather I started with Gold and then added other markets as the month went on.So June will be the first month of testing the system proper.
Fwiw June is currently £36 realised profit with about £500 currently positive.
I like the look of it a lot and will carry on for at least the rest of the year,unless the money I’m using for the test is blown.
As others have said it can play on your emotions as you will regularly see positions 100 + pips in profit only to cash out for a much smaller profit or loss, if a trader can’t handle that then it wont work for them.
Take notes. Study your success and failure.
An analytical approach to trading does not begin at the fundamental and technical analysis of price trends, or the formulation of trading strategies. It begins at the first step taken into the career, with the first dollar placed in an open position, and the first mistakes in calculation and trading methods. The successful trader will keep a diary, a journal of his trading activity where he carefully scrutinizes his mistakes and successes to find out what works and what does not. This is one of the most importance forex trading tips that you will get from a good mentor.
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Do you now have your results for the outcome for June and how are you doing in July so far?
Hi Manxx yep got the results and not pretty reading.
For convenience I’ll just talk in pips and say they are slightly rounded up/down.
For June it was a 497 pip loss
July -106 realised loss with 400 pip currently positive across 4 markets(waiting for Dax buy) and most with stop above break even.
To put the results in some sort of context Italian stock market was one of my original group and proved a very bad choice that alone over 3 trades was a negative of 348 pips so not picking that would have drastically cut my losses,though not necessarily put me in profit.
Gold has been one of the better performers along with Oil (though volatile)
The Nasdaq (called US Tech on my account) has been suprisingly consistent.
As I generally have my own way to trade currencies I have only used the EU/USD with this system which resulted in 3 losses in a row and so has been replaced by DAX.
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