The system is good as it is, no need to start tweaking things around. its profitable and simple enough as it is
@Nouslenord how do you know when the market is trending and when it is ranging. trying to do this will only mean 1 thing, You will miss some of the big moves because the market ranges for a while and all of a sudden, it starts s strong move without warning, before price action or indicators tell you the market has resumed trending, you have already missed the move. My visual manual and demo backtest show that trading GBPUSD, EURUSD and AUDUSD risking 3% per trade will keep you on a drawdown less than 20% and most of the months are profitable. So there is no incentive for me to avoid ranging markets
Another good one for Gold tonightā¦ Too bad it was quite a tricky setupā¦ Iām only human after all; I didnāt take the tradeā¦ If I was a cyborg I certainly would and lock that profit at 1.5 x Risk as plannedā¦
Cheersā¦ :44:
So I read through this, as per Wibieās suggestion. Looks nice, glad it was deemed as no longer working. A lot of members seemed to have tweeked a setting or two, but I think I am going to try the original for a bit.
Err, forgot to ask, can someone tell me what the size of a pip is the Phantom was using? I know two different pips. A pip from quote price (same here on babypips) and a pip on MT4, which is arguably a pipette.
For those that may have not seen an example, a MT4 pip is 1/10 of a pip. Unless that is how most platforms work and I am showing how new I am to this :54: .
Anyway, is Phantom using a standard pip? Its hard for me to tell, as well as it seems as if they donāt follow this thread much anymore.
As his preference are major currencies, I think he referred to the standard pip where 1 pip is equal to US$10. So his 100 pips claim means 1,000 in US$.
Yea, that would correlate with his .01 lots. I spotted it before seeing your post, as I went to double check and this makes sense. Thanks!
Now to see how well this will work out.
Enjoy your journeyā¦ ! :57:
I found this extensive yet illustrative article about Risk-Reward Ratio (RRR). One of the charts in the article (see pic below) indicates that my 1:1.5 RRR would require my trading plan to produce only 40% winning rate for me to make consistent profits. So far, my plan has produced around 75% winning rate. Glad, Iām on the right track. :7:
Read the full article here for more insights on RRR: The Ultimate Guide On How To Use Risk Reward Ratio Correctly
Cheersā¦ :44:
ehmā¦ wibie, tell me, are you really devotedly using the amazing crossover system? and is is the system thatās giving you a 75% winning rate thus far? and if thatās the case, which pairs do you trade with? i have been trading this system for about two weeks now on my demo account, and the results are tremendous. please wibie, are you trading with this system or you have some other system which you trade with? i want to have a second opinion regarding what iām doing thus far and to know if iām not just have lucky trade before i continue trading the system on my live account. so please tell me sirā¦
Hi maxiipriestt,
āDevotedlyā? To be honest, the right word for me would be āPartiallyā, heheā¦
A decent trading plan should be able to tell you where to place your Open Position (OP), Stop Loss (SL), and Profit Target (PT). In contrast to the original sytem by Phantom, I only follow its OP Plan (i.e. the EMAs crossover & RSI level crossover). Even on that, I tweak it with additional indicators and oscillators, for confirmation.
If you havenāt, I suggest you read my comments from page 60. I spilt my beans here and there regarding my trading plan that you may be able to use in your own plan.
Regarding your plan testing, Iām okay if you like to share it here or via inbox. I could reply within the hour, our at max within 24 hours; depends on my schedules.
Cheersā¦ :44:
Hi All,
If youāre interested in using Fibo Retracement Tool as your RRR Tool like what I showed you in recent charts, you would want to read this article on how to setup and utilize it: How to Hack Metatrader to Create The Ultimate Risk:Reward Ratio Tool
Enjoyā¦ :44:
Hello all. This is my 1st post. I have been using the amazing crossover system since this morning and collected over 500 pips! Not only that, itās after 2PM and I still have the rest of the day to get stuff done.
Iām not sure if my last post vanished or what. Maybe I clicked on something. This is my 1st or 2nd post.
Starting this morning, I have been using the Amazing Crossover System and I have collected over 500 pips!!!
I use :
SMMA 20 (red)
SMMA 5 (blue)
RSI 50
The Candle and the RSI almost never cross at the same time, but it should be in close proximity of each other.
If anyone needs help, just let me know.
Yours is a pretty significant change for the MAs and RSI - maybe a new thread? Iām happy with the current setup. d.
Hi sir, can you share us your entry order when the RSI is completely flat. Which timeframe, pairs are you using this on. Seem promising
Could you please let me know how to get this system?
I donāt think it was real TBH ā¦
Can someone upload this indicator? thanks.
How can i create an email alert for the majors with this system?
Thanks in advance!
i will try this:)))))