Amazing Crossover System - 100+ pips per day!

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82

Hi all,

Here is one example of a very profitable trade: check what GBBUSD did between 7:00 AM GMT and 13:00 AM GMT. In 5 hours one could have picked up 300 pips on a textbook entry (according to this system of course). So what I think is this is what we have to look for. I mean… moments when all the indicators of the system scream one direction or another. For example, at that point, the EMAs start to diverge, RSI is well below 0, ADX is looking good (also the -DI line is above the +DI line, which can also indicate a drop of the price), and also the MACD is starting to clearly steer away from the 0 line. 3 or 4 setups like this in a week, and we are on our way. :slight_smile: And I am sure we can find 3 or 4 in 10 pairs easily.

@Phantom, regarding the trailing stops, I hated them from the first days of looking into forex. For exactly the same reasons described by you. Price never goes up or down for long periods of time, there are some retracements, and then your trailing stop gets hit, just to see the prices going where you wanted, without you on board. That is why I don’t agree much with that either.
What I think we could do is setting the S/L to BE after a certain amount of pips of movement in our favor. Then we just let it run, and continue to monitor the position for signs of reversal. If our S/L (which is now at BE) gets hit, at least we didn’t lose anything. IMO, any trade in which you don’t lose is a winning one.
The target at which we move the stop to BE could be, I think, equal to our initial stop, or larger, to give the trade some room to breathe so we don’t get stopped out on a retracement.

Problem with this approach is that more time must be spent monitoring the positions.
But during learning about Forex, I found out that trading the market is a job like any other job, and it must be treated likewise. A job, of course, where you are your own boss, and also a job that could be very rewarding.

@Slash: Are those times CET? If that is the case, yes, it looks like a short entry to me.

Later edit:
Looking at the charts, I saw that also GBPJPY, EURGBP and GBPCHF (beside GBPUSD of course) made large moves starting with 8:00 AM GMT. They are all produced by the GBP of course (GBPJPY, GBPUSD and GBPCHF moved up, and EURGBP moved down). The total profit on those 4 trades would have been close to 1000 pips until now.

Happy trading,
Marius

83

Hi,

Slash, you never told us what you use as entry signal, you just described your position sizing strategy. If you are willing to share that with us, we are looking forward to it.

Happy trading,
Marius

1 Like
84

Hello everyone,

My trade hit my S/L and gave me a total of +20 pips. Had I let it run, I could have bagged +50 pips again, but I had to trail that S/L again!

We need to do some serious thinking on the best way to re-adjust the S/L. As Marius pointed out, some trades can give us well over +100 pips. If we can effectively trail our S/L, we may double or triple our progress.

Here is my account info:

STATISTICS

March 9, 2009
Starting Balance: 1,000
Current Balance: 1,126
Pip Total: +127
Number of Trades: 9
Win Ratio: 77.8%
Equity Increase: +12.6%
Account Started on March 5, 2009

Take care,

-ForexPhantom-

85

maybe trying a trailing stop of 40 pips?

86

possible signal on EU and USD/CHF

87

Also watch the EUR/CHF, although cross currencies sometimes scare me for some reason lol.

I might miss some of these due to having to be away from my CPU for awhile.

Take care,

-ForexPhantom-

88

Greetings,

It appears that the EUR/USD is being repulsed by the 10 EMA. The candle shot down rapidly just a moment ago.

If you are gutsy, you may want to short the EUR/USD, but I am steering clear simply because it seems too chaotic at the moment. I also do not like exiting a currency pair only to get right back into it.

I’d rather jump in on a new, fresh pair.

Just my preference.

-ForexPhantom-

89

Phantom don’t you think at 1$ a pip & with an initial SL of 100 pips you’re position size is way to high? Irrespective of your win rate and r:r you shouldn’t be giving up more than 1% of your equity especially when you’re starting out on a new account

Just a thought

wish u success & happy trading

:slight_smile:

90

would anyone agree that eurusd should hit at least 1.2638 during the London market ?

I am long and i hope so much.

suzie

91

Hi,

EURUSD looking short to me, but maybe it is just me.

Happy trading,
Marius

92

Hello,

I do not use a S/L of 100 pips – I now use 50 as my S/L. I also set my break even point after +25 pips.

With a nearly 4/5 ratio, that means for every 200 pips I earn, I will lose 50.
This is fine for now. If my ratio goes down, then I can readjust things later.

For now, I can risk 5% of my equity per trade.

Thanks,

-ForexPhantom-

1 Like
93

Greetings everyone,

I’m going LONG on the Eur/Usd @ 1.2637.

My entry was a TAD preemptive, but let’s see what happens. :smiley:

I’m up around +2 pips.

Wish me luck!

-ForexPhantom-

94

Greetings,

Keep your eyes on the Cable (gbp/usd).

Bullish with a near crossing of EMA’s on the hourly.

I’ll have two open trades, but I may just place the order.

-ForexPhantom-

95

Hello everyone, wow, long day at work today. ufffff. Ok. Marius, I use the system exactly as Phamton described initially. My only adjustment is on the amount of pips I target. I always get 60 pips by targeting the first 20 three times. As I mentioned, three orders on the go allows me to control the size of the risk I am taking. Often, when things goes wrong, I close two order, keep one running and in few situations I was able to recover all I lost on the other two. I really like my trading system because it closes medium size profit in short time with no headaches.
In order to keep very good money management, I only use one system at a time. I receive signals from three groups. Not sure if anyone here is into signals. They could be very effective. I use Forex Android, ForexRingLeader and ForexAmbush. And also I trade the London rush every night. (this one could be insane at times, the profit here could surprise any experience trader.
With so many things available, I have to be very careful while trading to avoid using more of one system. So far this one is very VERY effective. I really like it and I think Phamtom deserve the credit for the system (even when it was created by someone else at…

96

Greetings,

Against my better judgment, I’ve bought the GBP/USD @ 1.3830.

I’m crossing my fingers and toes.

Two open orders now.

-ForexPhantom-

97

Greetings everyone,

The cable and the EUR/USD went negative after I purchased them. Just when I thought I was sunk, they’ve both turned around.

Cable: +1
Eur/USD: +11

I’ll keep you all posted.

Thanks,

-ForexPhantom-

98

Phantom.
I am confused now, I do not see the signals to enter this pair at all. bot EMA are apart, well, they are coming together now but when you posted it, I had both EMA totally apart. This pair has being dead for 9 hours, no one single move, up or down. I trade it earlier today (accidentaly) and it was good but it is was not looking good for the rest of the day. how are you doing?

99

Hello,

On Alpari, the EMA’s were touching (crossed on the 30 min time frame). The RSI and MACD were approaching the mid-lines and getting ready to cross (or so it would seem).

It was a riskier entry, I’ll admit. So far, it’s been on all over the place. I may just close it once it hits 0. Not sure though. Currently -7 pips.

The EUR/USD is doing well, however. +14 on that one.

Thanks,

-ForexPhantom-

100

i have added accelerator oscillator and awesome oscillator to help confirm signal. See how they work out. also checking out how a 25 T/S works out and not using a T/P

101

Hello,

I like those indicators, for whatever reason. I’ll definitely toy with them.

Update: Both trades are in profit.

Cable: +7 pips
Eur/Usd: +35 pips

:smiley:

-ForexPhantom-