Thanks PhilipPirrip for your thread :35:
Why not a skype chat to share setups.
Thank you again :57:
Hi PhilipPirrip,
Long time member, first time poster 
A belated thank you for sharing your strategy. It’s awesome and definitely suits my style of trading. Over the last 10 or so months your informative posts and clear examples have helped me to identify some great trade setups which have paid off well, just as the title of the tread suggests.
I understand your logic regarding divergences and hidden divergences and look forward to seeing a working example.
Cheers,
Derko
Folks, do you still trade this system and make profits?
Looking at the OP’s trading account (which he provided a link for in his OP), it looks like he’s loosing more than winning?
Having just come across this thread, all I can say is I wish more OP’s would show there trading accounts…it certainly saves a lot of reading!
First no system is perfect, so this one as any other when you use it , if you twit it to your liking it will work allot better. Keep in mine that when there is important news events , most system will run into trouble . There are no short cuts to learn anything correctly.
I did post the trading account saying that it will follow the system. Unfortunately I got caught up trying different day trading systems that haven’t worked out.
Anyways I do have an update about the rules that I think will help people avoid trades going against them and improve the risk reward considerably. It’s very simple, I don’t know how I didn’t think about it.
Now we said that the rules for longs: 1) 20 EMA crosses above 50 EMA. 2) Stochastic is overbought. 3) Stochastic moves to oversold. 4) The K line crosses above the D line.
Now sometimes the pattern fails, in the old rules… we would wait until the pattern reversed.
Now the new rules I suggest is to exit the trade when the following happens (The K line moves back below the D line and into the oversold area). You can enter the next time the K crosses above the D line again.
This way, even though you might encounter more losing trades, your trades will generally be shorter and you will never be in a really bad losing trade.
I will look to post examples when I can.
1 Like
Well, all I can say is that there is no perfect system, I guess. In which it always changes everyday. Much better to get some action plan for major fall out just in case. Sometimes it seems to be great to know it doing good too.
People just glimpse at the myfxbook account (which I already said is for experimenting with other systems as well) and assume the strategy doesn’t work.
Read the money management section people!
Speaking of money management, any thoughts on pyramiding in so for example your initial 5% risk is moved to breakeven, the adding another position at 5% risk, finally closing with the closing signal per the original system?
I have thought about pin bars, engulfing bars, etc. with the indicated trend, but I am curious about other’s thoughts.
I personally don’t like it because you will end up given some of your gains rather than compounding them.
I recommend reading the money management bit in the forum. I think its one of the most comprehensive you will find anywhere. It also has a contribution from Ralph Vince, who is THE authority on money management. I advise you to read his books as well.
Sounds right to me … the conjunction of the shape of the last H4 candle and the approximate position of your S/R line look certainly like a potential short in the making. 
You’re down 85% of your total account. Guess this is another example of the blind leading the blind on Babypips!
Are there any evidenced examples that aren’t?
After many years of membership can’t say that I have seen one.
You guys should get out the Maryo Charts thread. Just try to follow his trades.
Hi Bardbardy,
With all due respect that was uncalled for. I think the reason was mentioned, that Philip was using the FXbook account for multiple trading systems kind of for experiment purposes and hence the huge draw down. You must have overlooked that post. :13:
Philip has been really helpful and accommodative of newbie’s doubts etc…
No Harm No foul.
Been testing this system for more than 4 months with no results. More than 10 pairs, same entry/stop/time frame as suggested here, it fails more than 60% operations.
Any of you still working this system with better results?
Thanks.
First, I’d like to thank you, PhilipPirrip, for this excellent trading idea. Kudos.
I’m a part time fx trader since 2011 and until 2015 I traded only EURUSD using my special tailored technique. As I saw the pair was bound to be stuck in a range for a while, I searched for a reliable and simple technical pattern to trade other pairs. I found this thread, experimented with the pattern a month or two, and went live in May 2015.
y
I use it for swing trades on 21 pairs (all majors minus EURUSD and most CHF:46: pairs) on 4h timeframe, basically as it is described in the beginning of the thread + some minor updates of my own. In 2 years I haven’t experienced a single negative month, while monthly scores ranged from 85 (this was close:)) to >4000 pips, with the average around 1500 pips/month.
I can only recommend this technique. Easy and safe.
Thanks again, Phillip! :35:
Hello all. I’m somewhat late jumping on the bandwagon of this thread but here I am. I want to trial this on Demo, I’ve set it all up but the stochastics doesn’t appear to have ever gone into overbought or oversold figures and I’ve checked back on various timeframes, so I’m guessing I’ve set something up wrong? Any idea?
Thanks, Rebecca
Sorry guys, picture upside down ������