Probably too late to answer, but no, do not re-enter. The market reversed again. Best to let it go for now.
[QUOTE=“Seajah;544235”] NFP will be cancelled me thinks[/QUOTE]
This is a possibility. Gbp has dropped versus the dollar after the spike yesterday and seems as if it may continue. The gbp has to come down as well as the euro as they are in very high positions right now. I hope the US can get their ducks in a row as they are headed for disaster if they don’t.
oh no so far it already loss like 1000pips , what i’ve earned in pass 2 week loss all in this week -.-’’
probably not going to follow the signal anymore…
no offense, loveislife i really appreciate your generosity, but lucky for you that you did’nt sell this system for money, and seem like your dream of selling this system for money is not gonna work, since the system is not that stable in earning pips
Hi, it would be much appreciated if someone out there could give me a recap of which trades were triggered so far this week and the current status. A screenshot would be really helpful as I want to analyse these signals on my demo account and I have put up all the orders as mentioned. Please give me the trades which were stopped out as well. Thank you
Hey Douglas, i see your pain …1000 pips is a lot of money! I see a problem with there system that it doesnt allow for the fundamental analysis of the market…the last two weeks should not have been traded …especially beginners who dont understand the drivers behind currencies. This system i believe will work over a period of time but patience is required …also not to be greedy and overcapitalise on trades. I too have lost money due to ignorance, thinking i could just put the trades on and forget about them…its just not that simple! Remember we are trading a market that claims 95% of who dare to make a living…thats an awful lot of traders going broke…EDUCATE yourself mate! as i made this error thinking i could do it alone or just follow signals without learning the ropes properly…
Woah, just saw your post on the loss, Douglas. Hope that wasn’t too big a loss, if it was a live account that is. So if you say you lost 1000 pips, that means 10 of them stopped out now? If you don’t mind, could you give the pairs that were stopped out and the trades which are currently running?
This System is now at almost 1000pips loss this week.
[B][I]Here are some Serious questions you should ASK YOURSELF before following these signals[/I][/B]
[B]1. If the author claims that this system is CONSISTENTLY profitable then why does he need subscribers who pay for the signals?
-
Why can’t he just make money using these signals and give them out for free? (He always brings up paid signals in the future)
-
Can he show the statistics from the past that show that this system is CONSISTENTLY profitable?
-
Doesn’t 100 pip stop, 200 pip target sound too simple? and why does he always screw up few signals?
-
The biggest win of this system came from the taper news week, what if the news was completely opposite? (which is definitely possible). Is it possible that it could have been 1000pips+ loss?
-
Can he prove that this system uses multiple technical analysis? If yes, Which? or does the signals seem a little robotic?
-
How come he doesn’t ever know which pairs hit stop loss? if he is actually trading these signals shouldn’t he always know?[/B]
If you’re looking for a profitable signals I say at least follow Autotrade or Metatrader services WHICH CAN AT LEAST SHOW THAT THE SYSTEM HAS BEEN AND IS PROFITABLE. Go to myfxbook website or metaquotes website for these services
Hello:
I’ve been following this thread and applying on demo since it started. I work a desk job so I’m looking for a system that fits my weekly schedule and ability to check trades periodically throughout the day. This one has some appeal but I’ve noticed a glaring issue that I believe is worth a post…… The market needs to move! (I know what you’re thinkin’…. “No S#*t bro!!!” ). In all seriousness, most of the pairs have been bouncing between the weekly support and resistance levels for the past couple days (even last week), triggering entries, and then stopping out on their way back. Especially the JPY. It appears that a lot of the buy/sell entries are calculated near the weekly S1 and R1 with roughly a 120 pip split. Therefore, this system needs movement in the market in order to push pairs past those levels. IMO, we need new and events to help move these pairs. In the future, I plan to try some adjustments of my own according to the news events that are scheduled for the week. Even though by demo account has been getting its butt kicked, I still think it’s a system worth exploring and tweaking. Cheers……
just follow the tules and take your pisitions accordingly
If you dutifully follow the simple rules outlined here you will always be on top of the game even if you lost some weeks. on the long run you will always remain consistently profitable. problem with a lot of traders is they want quick fixes. they hardly wait to understand the rules before using the system or signals and they are the first to critisize snd drop the system in search of the ever elusive HOLY GRAIL. This is a time tested system i have been using thru all weather and i can make bold to say that is reliable. just follow the simple rules for about 3 months to pass a verdict.
what you are saying i am afraid is incorrect.just a week s loss cannot be enough to write sny system. you need a lot of trsdes to have a statistcsl mass of trades to reavh duch conclusion. u claim that u lodt all you had earned over the weeks in a week or so and i want to ask you if the rules of the system do not form one of the components of the sydtem? for your information bad weeks like this always occur and we have had far worse weeks than this but in the past 6 monyhs or so we have not recorded any negative month. i dont know of many systems that have recorded such but i implore you to be a little more patient and follow the trades with all the rules and see what you will get at the end of say 3 to six month.people here are tslking as if one must ein every week. i know any system must have drawdowns and that is inevitsble.
Well, based on my understanding, this could be a profitable system, but its based on probability mainly and not anything else. If you look at it, there are 15 trades, so the total risk is minimum of 1500 pips, based on only one of each entries being triggered. And as I understant, these entries are placed above key support/resistance points. The success of this system lies in the fact that more often than not, the odds of a trade heading higher after these key levels is higher than it bouncing back. That’s why you need to enter all the trades. But the catch remains that you risk 1500 pips minimum each week and from what i see, make only a fraction of that amount each week. So about the post about erasing all gains made previously this week, it is very much possible to be honest. It is a profitable system however, but the risk is big. Even if it makes around 350 pips on average per week, as it seems, you could lose over 4 weeks consecutive profits, in one week. Its all about probability really.
Actually I just read that the first three weeks have yielded an average of around 700 pips each week so the risk to reward should be halved in that case. So there is the possibility of losing 2 weeks profits in a week.
What is going on here?
You are a bit late to the party
Just a few hiccup and people seem to get cold feet already.
I agree. When will we learn that there’s no Holly Grail system.need to look at the big picture in the long run.
The money management department of this system doesn’t seem solid though. That’s why nothing posted last couple of days. Everybody is in shock after the huge drawdown.
The NFP might change the whole picture last minute and recover the loss.
I’m not trading this system but following and working on it to miss the losing weeks , bring down the 15% risk and reduce the number of pairs.
My apologies. NFP for this week must have been cancelled. Not in the forex news calendars anymore.
Yeah man… the US Government shutdown closed the Bureau of Labor Statistics. No US government data until they reopen the government. Crazy stuff.
GOLDEN WEEKLY SIGNALS RESULTS 30/9-04/10/2013
EURUSD BUY -21PIPS
USDCHF SELL -86 PIPS
GBPUSD BUY -100 PIPS, SELL 57 PIPS
USDJPY SELL 19 PIPS
AUDUSD BUY 57 PIPS
NZDUSD BUY -100 PIPS, SELL -100 PIPS, BUY -21 PIPS
EURUAUD SELL -100 PIPS, SELL 56 PIPS
GBPJPY SELL -100 PIPS,BUY -21 PIPS,SELL 200 PIPS
USDCAD NO TRADES
GBPAUD SELL GBPAUD SELL -100, SELL 200 PIPS
CHFJPY SELL 41 PIPS
CADJPY SELL 36 PIPS
AUDJPY BUY -100 PIPS,SELL -100 PIPS
GBPCHF BUY -100 PIPS, SELL 24 PIPS
EURJPY SELL -100 PIPS, SELL -100 PIPS,SELL 18 PIPS
TOTAL -541 PIPS PIPS
Have a successful week ahead as we all plan to cover the slight drawback of this week.
Happy trading!