Hard to know what to believe…and i haven’t finished my research but thanks…
Try this link.
ACM Found to be in good standing
Edit: Oops just read your link a little more thoroughly and see that both sides are mentioned…a little more investigation is in order…they rate very highly in many FX Broker reviews so who knows.
NP
These are uncertain times for all (like me) who use an american broker. If these new NFA regulations do indeed mean that stop loss and limit orders etc will be banned, then I’ll also have to restart the hunt for a good broker.
Perhaps you should wait with your decision until it becomes clear if one more or less has to go with a non-us broker, or not.
Very happy with Oanda though, so I hope things will work themselves out somehow.
Seems like a real mess, and we’ll just have to wait and see what the end result will be I guess.
Thanks for the link, I hadn’t read further than forexsaviors post.
[QUOTE=ForexPhantom;105159]Hi all,
How is everybody doing with the system right now?
Hi.
We seems to have a good opportunity to trade today on GPJ\JPY . We have crossover and the reward\risk ratio is great. Check picture below. It looks promising.
Cheers.
I took the GBP/JPY trade a little early so im down about 100 pips right now. Also in EUR/USD, seen the crossover and showing resistance on the weekly chart
hi can anyone teach me what’s the software used to open the tpl file? can mt4 platform do that? thanks
here is a youtube link…
YouTube - Urban Forex Metatrader 4 Tutorials : Adding Indicators and Templates
haha thanks alot. actually didn’t realise it’s a template file, hence confused about how to open it…
anyway i have a question, might be one i missed out in the posts though, which is, do u enter immediately after u see the cross, or wait for candle to close? which is like the end of the day? if so, means u enter at the opening of the next candle?
i wonder if anyone tried it using like 1 unit to trade? ha
it’s me again. finally finish reading almost all the posts. i will say no doubts this is a system with potential, but maybe allow me to share some thoughts.
It’s really time to trade live if you never do it before. Why? because trading a demo and live is totally different. trust me. i knew it myself. ya when you are trading demo and u are 200 pips down, it’s easy to say, wait for it to reverse. well of cos the trust in the system is there, but on the other hand, it’s not real money anyway. easy to say so, cos i being through that myself. But when it’s real money, i am not so sure about that.
anyway about the S/L. If the system is confirm good, then there might not be a need for a S/L or the S/L must be real big just as a safety net such that if on one day, something happened which cause the pair to move out of the daily normal range of pips, at least you can stop that. else if you place a small S/L, the daily movement will easily cause you to get S/L easily, something which you do not want. Hence what’s the S/L you might be setting? I will say the answer depends on the pair, and definitely not one S/L for all currency pairs
I personally will think the S/L and TS depends somewhat on how long you wish to hold the currency pair. I will think that depends on how much profit you want to take. If you are looking for high 200-300 pips maybe you will like to put a 150pips TS but that also means that you might be at 199 but end up with just a 49 pips profit. But for me, I might want a better gain and hence just put a 50 TS ending up with a 149 profit instead. Of cos I dun rule out the chance of reversal and you ending up with more pips, but so the point is, it depends on ur risk profile. I personally will definitely lock in profits, but that might not be possible for small units.
Anyway, I am not so sure if someone be sad that he gain 100pips less than lose 100pips. trust me, if you are trading live, you won’t want to be losing any money. And it won’t be surprising that when u lose a trade you end up losing even more cos you will start imagining signals that aren’t even there and hence entering trades just to get back your loss. Anyway I dare say, those successful traders are successful because they know how to minimize loss and let profit run, that means going to break even ASAP.
Yuan83,
Very well said…I have been trading for only two years. I have demo traded with 50k 100k and acted like I really had that kind of cash in my bucket…I then went to a live account and traded a system which I thought was great, I obeyed the rules and got my buttocks handed to me with a margin call. I might have well just gone into the ring and fought Mike Tyson and took a dive knowing he was going to kill me. So, I know where yuan83 is coming from…
So what I have done, is on Alpari,US, I opened up a demo account at 300.00 US…You can do this, when you register the new account, you just type in 300 for the account balance…Why 300, that all my live account has in it. So when I trade the 300 demo, Im acting like I only have 300 in the demo(fake live) account and use my MM(money Management) rules…So if I trade a system like this, and I lose my 300 demo, Its no big deal…So my comment on that, why trade a 3k, 5k or whatever, you dont have that amount really, trade what you may have or think about starting an account with. You will learn to trade your MM rules…
In conclusion, I believe this is a good system, It’s well thought out and planned…However, each persons sl, tp or ts is different. I am starting today to demo trade this on a 300 buck demo account as if it was my real 300 account. With Mothers day weekend, it took me all weekend to read every post on this system… I was taught on every trade, you must use a S/L. So what is everyone’s thought on the number of t/s, s/l if you use it and when to exactly enter on this system…
Also in reference to the s/l?, Could you just enter on the cross of the ma’s and use a 250 s/l and just let the wave ride out. Meaning keeping an eye on the trade and not using the t/s. I have looked back and most of the trades, do not retrace on you past a 250 s/l…Just a thought…
Phantom great job btw…I can tell you spent some time on this system. But I finally believe in trading forex, to many indicators on the screen gives me a headache LOL…Phantom, hope you got my email. juan83, good post, I enjoyed the reading of all in this thread.
Good luck to everyone
Jimbnc
Jimmy
thanks for the reply.
yup it is important to create a demo account which has the amount of what you hope to have in your actual account. but still I will think even when you go live, the psychology involved is really much different. That’s why even with a winning system, not all people might win, it really requires training ur mind to accustom to trading live.
but anyway FP, I will still say, great system you have there.
Juan83,
could you please share with us your trading info on here…meaning your s/l, t/s etc, and when you enter? not to be nosy, just learning from other traders,thanks juan
jimmy
Is the moving average intended to predict where the current candle is going or the next candle? Take the USD/CHF for example. On 5/5/2009, the blue line crossed the red line from underneath, which signals a buy trade. So, my question is, right when the blue line crosses the red, is this still at the bottom of the candle? Thanks in advance!
hi thanks for ur interest. anyway my nick is yuan not juan. Anyway, I will say I am still new to the system and hence trying out. I will say it doesn’t seem like a good thing to enter once you see the crossover, could be a false signal ya, and think normally it will retract at some point. Guess it’s a balance between entering earlier just to get extra pips or entering later when things are confirmed. another way probably is to enter when you see the signal, then when it retract, enter more lots in; basically averaging things out.
as for s/l ts, i will say depend on currency pair, must focus on a pair and really research on it if you ask me
since yuan83 just answered about his s/l and t/s management (thank you), i am curious what the rest of you figured out to be working best (for you).
i wouldn’t want to enter a trade without an initial s/l. in one way i like it rather far away, but on the other hand this decreases my risk/reward-ratio, meaning i have to take a smaller lot. surely, the exact numbers have to be adapted to each pair, but i am pretty sure there’s a range to refer to.
so, what are your actual s/l and t/s settings?
thanks by the way for this thread!
best regards
Hi.
I don�t have constant S/L and T/S , it really depends on situation . Important part of this strategy is reward/risk ratio. In the long run constant value of s/l is not profitable. And remember do not enter every phantoms cross , maybe its not worth to risk so better wait for another opportunity. I made a transaction few days ago on GPB/JPY. Crossover occur and my S/L was about 250 pips and T/P still is about 800 pips (look at picture below ).
Cheers.
think yesterday itself, pound yen made a 200 +pips reversal. it’s too volatile a pair to put small TS. I put a 85 TS, trying to keep it in trade but still got SL with a pathetic gain. Actually TS is not needed if you are sure it will eventually go down.
One way it can be done, I feel, is first know where you want to TP. The initial SL or TS need to be large cos of the fluctuation. Think there are two ways, one way is to take partial profit, maybe 50% of your lot, then the other 50% set SL to breakeven and let it run.
another way is to, reduce your TS as profits increases, such that you lock in most of the profit and maybe if it continues the trend, you still can earn more.
Hi.
Indeed GPB/JPY is volatile pair. So I would wait for another crossover and then maybe exit trade with a profit or for sure set new stop. Others pair like E/U U/J is much more friendly for that system.
Cheers
Hello everyone,
I haven’t posted in awhile so I wanted to give everyone an update. First off, I haven’t forgotten about the thread! Been busy lately.
Awhile ago, I talked about setting up an Alpari Live Account. I went on their website and began the registration process some time ago. I printed off several documents, filled them out / signed them, and mailed in a packet of completed forms to Wall Street, NY. Turns out one of my documents was not signed. They informed me of this via email. I printed it off, signed it, and faxed it to them about a week later. The next day, the Alpari team sends me an email regarding risk in Forex Trading and how I should consider other investments (they’ve told me this about a thousand different times). Interestingly, the email contains nothing about receiving my fax or setting up my account. I figure this is the first email in a string of emails which will tell me what to do next. So I wait for the next email. One day goes by…nothing. Two days…nothing. I finally email them and ask if they have received my fax. After probably another 3 days of waiting — no response yet.
Basically, I have no idea if they received my fax or not, but I am 100% certain that they received my email. I might have screwed up the fax, but they should have at least responded to my email by now.
I’m not upset…yet. I like Alpari the best out of all the brokers, so I’m cutting them lots of slack because I think they are a great company and I’m sure this is just a fluke. That being said, if they don’t email me soon I will call them and politely inquire about my account. If the service is bad, then I’ll start looking elsewhere. Obviously I’ve never setup a Forex account before, so maybe this is normal. But I don’t think it should be this much of a hassle.
Anyways, if anyone knows of a hassle-free broker which uses MT4, then I could always place my trades with them and use Alpari for analysis. I would much rather use Alpari for everything, so let’s hope they get their act together soon.
Happy Trading,
-ForexPhantom-
