Congratulations on your system wining the best forex trading system contest for July.
I am new to forex and am following your system. Can you please guide me how to read and apply terminology in your new trade -
a. 5 Aug 16:00 - What time it represent (GMT or ET). According to it, should we enter this trade at 4PM?
b. 18 (ATR51+23/4) - What it implies and how to introduce it in to the chart?
c. Behind MA of 13258 - What it means?
Please excuse my ignorance. Thanks.
[B]My Current Statistics:[/B]
[U]Closed Trades:[/U]
EURUSD Long from 1.3283 hit the stop loss for -36 Pips.
USDCHF Short from 0.9288 hit the stop loss for -28 Pips.
[U]New Trades Opened:[/U]
USDCHF Short again from 0.9280 (TP is 0.9234 and SL is 0.9314)
EURUSD Long again from 1.3262 (TP is 1.3340 and SL is 1.3227)
I hope my SL is not taken again!
Hi and welcome,
Ther method that I’m following is described in detail on the first page of this forum and you may have to wade through the various pages to pick up various tweaks.
5 Aug 16:00 - The times stated are European. I’m based in the UK where the time is currently 6.25am and the European time is 7.25am. The signal was given on the close of the 16:00 four hour bar at 20:00, so the trade would have been opened at 20:00. At this time the 34 MA on the 4hour chart was 13258. The ATR range was 51 to 23, these added make 74 which divide by 4 gives 18, so the stop was set 18 behind 13258. Examples of charts showing the indicators are on earlier pages, and the indicators on this chart are available at the Forex Useful website. If you contact Jon he is very helpful, and you may consider the 1:1 service he offers. Example of charts with indicators are shown on earlier pages. Hope this helps.
AUDUSD short from 9167 (30 July 0:00) closed at MA 8972 (6 Aug 4:00) for +195
EURJPY long from 13129 (1 Aug 12:00) stopped at 13038, 23 behind MA of 13061 for -91
New Trade:
USDCHF short from 9284 (5 Aug 16:00), stop at 9318, 11 above MA of 9307 (ATR 42+2/4)
I’m finally taking this live and also entered this as my first trade. I’ve done a decent amount of backtesting now with the creation of an EA and see there are some potential profits to be made with this. I won’t be using the EA live though, it will be manual for the time being. I might use the EA on a demo account to see how it does though.
Are you using the exact same rules as harmonic ?
Thank you very much for detailed reply.
I will go through previous pages and follow.
Thanks again.
I have tried it a few different ways and it performs differently on different pairs. The best scenario for the most number of pairs was a 20 pip stop trailing the MA, not the ATR method that harmonic has introduced (at least in my backtests this is the case). I’ll most likely start with the 20 pip and see how that goes before looking into other options.
AUDUSD Short from 8955 (6 Aug 12:00) stopped out (6 Aug 16:00) at 8981, 21 above MA of 8960 for -26
[B]My Current Statistics:[/B]
[U]Closed Trades:[/U]
None.
[U]New Trades:[/U]
None. Looking forward to Short NZDUSD once trend confirmed. Price is very near to the MA.
[U]Previous Open Trades:[/U]
USDCHF Short from 0.9280 (TP is 0.9234 and SL is 0.9314) is still open and positive by +22 pips.
EURUSD Long from 1.3262 (TP is 1.3340 and SL is 1.3227) is still open and positive by +40 Pips.
Thanks.
Wow. That is great 
Bro harmonicphil, I need to ask something. I see that your trades go for a longer period of time and you made many pips at the end. Do you trail your trades manually or set a trail stop? I am asking this that I cant monitor my trades all the time and I also dont want my trades to end quickly just because of me trailing it. What is your criteria to go for over +150 pips? How they are not taken away by trailing stops since now a days a 30 or 40 pips retracement often happens so how do you trail in that case?
I’m fairly certain that he manually trails the Moving Average at the close of each candle. He trails it by the (max ATR(14)+min ATR(14))/4 and with it trailing, it is only moved in the direction of profit and never moved further against the trade (never increasing the stop loss). So if the MA moves with the trade, the SL is adjusted at the close of the candle, if the MA moves against or stays the same, the SL is not adjusted.
Thanks irvinfitness, correct I’m manually trailing the MA on the close of each candle.
Results since going live (Start: 8/6/13, Total: -16.3, Trading: E/U, U/CAD, E/A, A/U, U/CHF, E/G, G/U, G/J, E/J)
Utilizing 20 pip MA trailing stop
Closed Trades:
AUDUSD .89640 Sell 8/6 @ 12:00 GMT, SL hit 8/6 @ 16:14 GMT => -16.3
Open Trades:
EURUSD 1.32766 Buy 8/6 @ 12:00 GMT, SL set @ 1.32440 -> no profit locked
EURAUD 1.48099 Buy 8/6 @ 12:00 GMT, SL set @ 1.48013 -> no profit locked
AUDUSD .89393 Sell 8/7 @ 8:00 GMT, SL set @ .89674 -> no profit locked
New trade:
AUDUSD Short from 8938 (7 Aug 8:00) stop at 8966, 21 (ATR 53+22/4) above MA 8945
AUDUSD Short from 8938 (7 Aug 8:00) stopped at 8966 (7 Aug 12:) for -28
Update:
AUDUSD Short (8/7 @ 8:00) stopped at .89638 for -24.5
EURAUD Long (8/6 @ 12:00) stopped at 1.48098 for -0.1
Running Total (Start 8/6) = -40.9 pips
Notice Gold is Down again on the Weekly and Daily - Anyone trading it?