You too ReaperKK, I read over FP’s first post again and found that I was actually not following like he states. I was using a set S/L. Now I just use the T/S. I am experimenting with 45-100 pip range T/S. So far the 45 and 50 T/S are working out great, I moved my next trades to 60 and 65 T/S. I will post how they did when the trades close.
Happy Trading
Bill
hello, good morning I see that the thread is encouraging, for which pairs you use the strategy? Here you can place the filter is gann hi lo, thanks
Hello cucatrufa,
I use fxdd with this system on all of the pairs they offer. I am just looking for at least five of them for a set up and ride the trend until my T/S is hit. So far so good. I do not have alot of time to look at the charts and this system is really good for people like me. You can see from my earlier posts and reaperKK’s posts how the pairs are doing. Hope this helps.
Bill
hi phantom,
you are realy a forex talent…
jado any positive results?
I have been reading this post for some time now. I am a big fan of Forex Phantom. My question is what happened to the Phantom?
Just placed a trade LONG on the UJ. See chart below. Just found the system and decided to try it out. Will post results. Currently using a 75pip T/S.
Great soul786! Please keep us informed. I have just started trying this strategy as well.
Currently sits -10pips but I know this is a longer term strat so I’ll post tomorrow around 11:00am EST with an update.
Cool. I actually entered the same trade at 89.08 a little before you. I am currently at +2 pips
Here’s the promised 11:00AM EST update:
Overnight there was a ~40 pip retracement against us which had me worried, however as the chart attached now shows. The cross has confirmed and am sitting on a +20pip gain. My entry was a bit later than some by a few pips; things went haywire and somehow my first order was closed. Thus I had to re-enter giving up a few pips.
Question about the system though: would it be advisable to leave the order open over a weekend? Or is it best to close it out before the week’s end?
I will be updating here again in +5 hours (4:00PM EST).
Since this system is based on the daily chart I would let it run thru the weekend. I am relatively new at forex and brand new using this strategy so PLEASE take anyhting I say with a grain of salt!:rolleyes:
Haha as am I so do not worry. I may choose to close out half the position for profit taking, and let the other half run over the weekend and into next week until a cross forms where I’ll exit. I’ll modify the order also so my S/L is set at breakeven (entry) for safety’s sake and see where it takes us.
Let’s see where it goes.
As promised, UJ- 4:00PM EST update. Trading has now closed for the weekend. I have elected to keep the trade over the weekend without closing out any parts of the position.
Currently sits at +51 pips. Trailing Stop of 75Pips has not come into play yet, highest level reached was +60 or so pips I beleive.
It looks like you are in good shape. Have a great weekend.
Glad to see a few more people following this thread. I have been trading with this strategy since 9/24/09, I have not added the pip count in a while, been busy with my classes and all, but a best gues would be around 1000+ pips since I started. I have had some losing trades, but they were not very big. I have noticed that if you trade against the trend you can get 50-100 pips. I never leave a position open that is against the trend at the end of the day. Just me. Hope we all do well and have a great weekend!
Bill
This is my first trade in the system so I decided to keep it going. It’s all in good learning so maybe we’ll be able to conclude something useful on the opening of the markets.
What pairs do you watch? I’ve got about 8 charts set up on a profile in MT4 so that I can view all the happenings. Any pair you’ve seen better action on?
The majors I have seen really good action, but I think it does not matter. I am using LiteForex MT4 micro account for demo right now. I use every single pair they allow me to trade with. I think with this, it does not matter. I look at them in the mornings before work and when I come home. For me, a new candle forms shortly after I get home. I try and wait a little bit before I place a trade if I see a cross getting ready to happen. I have had a few uncross on me or just touch and go the other way. I am still learning with this and I trade like it is my real money. I have had 5-8 trades open at once at one time. I use stops for caution along with T/S at 50-100.
Happy Trading
Bill
