Yeah… looks like this time we really have a system. I am up 400 something pips (900 pips in unrealized profit at the moment, but I closed several trades in a loss). I opened trades on many pairs, to see how that works.
And yes, it requires a very short amount of time to place the trades.
I am also looking at the RSI(14) (looks like there are strong moves when it crosses the 50 level) and also ADX(14), but not the main line. Instead I look at the -DI and +DI. Crossing of those lines makes for a good confirmation.
One question… when do you place your trades? I personally think that it is best to look at the charts at the start of a new candle, because before a candle is closed, there could be many fake crosses (the EMA’s cross then split again).
I am a former scalper myself. I like to be in the action at all times.
But this is actually much more enjoyable. I’d much rather glance at the charts in the morning a few times, place my trades (with a trailing s/l), and go on about my daily life.
When I return, I’ll check the charts again at night to see what happened.
This system minimizes investment time and maximizes profits.
Hello all,
this is my first post but I have been trialing ForexPhantoms system this week and wanted to give my views. I have only been demo trading for about 8 months and have been looking for a system which suits my circumstances - I work full time so am limited to early mornings & evenings to trade. I started the week with �5,000 demo account which now stands at �10,236! This is based on a pip value of approx �2.80 - �3 (give or take depending on the pair). I have not yet sat down and worked out the exact number of pips made but the above gives a rough idea. I placed total of 8 trades over the course of the week, 3 on Monday eve which all went the right way & I manually took profits on the Tuesday. Placed 5 trades on Weds evening of which 3 were showing a large loss (approx �1500 combined) on the Thursday eve, the other 2 were slightly in profit. I let them all run and got home after work this evening to find a combined total profit of just over �4000!
Apologies for talking in terms of �’s rather than pips but have not had a chance to sit down & work that out yet.
I realise it is early days and it may have just been a particularly good week (some big moves today) but so far I cannot find fault with it, as has been discussed already i think its just all about finding a suitable stop loss. As mentioned earlier, I am only still demo trading and realise this does not hold the same emotion and personal feeling as live trading but even so, I think the system has great potential.
So…to conclude…so, far seems great Mr ForexPhantom & a big thank you for sharing it with us!
Well you are certainly welcome. I’m glad you are enjoying success with the system.
You are right to be suspicious – all of my trades went positive eventually this week, also. Perhaps it was just a good week. But I think (or hope) it will continue throughout our trading career.
I’d be curious to see how many pips / USD that works out to be. If you ever get a chance, it would be cool to know.
I’ve only started trading this specific system this week (starting on Tuesday I think?).
I’ve yet to compute the exact number of pips I’ve gained this week, but it is somewhere around +500 with a 100% win ratio. Not bad for any system, but as I’ve mentioned earlier, it’s incredible when you calculate how minimal my investment time has been.
Given your work situation, this system seems ideal for you as well. Personally, if we can enjoy this kind of success consistently, I don’t see why anyone would want to have it any other way! I certainly don’t want to spend all day in front of my computer studying Forex charts when I can glance at them 1 - 2x a day!
Anyways, thanks again and please keep testing out the system. Also, keep us updated on your results. That way everyone can learn from each other.
Hey
Ive tried to follow you directions but have been unsuccessful. Im okay up until the part about the it being changed from a blank .tpl file to a mt4 icon. That doesn’t happen with my computer. It doesn’t seem to change. Any help would be appreciated. Thanks
Hey ForexPhantom
Im using MT4. where would i find the WinRaR file. My problem is it will not let me open it. I can only save it and from there…? I guess i prob need to locate the WinRAR file to begin with. Thanks for your help
Okay, Fphantom.
I think i finally figured it out. Was able to download it. Now, one question i have is, what values do you have on the sides of the bottom indicator window. Thanks for your help
Open trades:
Long UC; +77pips, Lock in 13pips
Short AU; +54pips
Short EJ; +183pips; Lock in 120pips
Long EG; -75pips
Short GJ; +279pips, Lock in 207pips
TS 75pips for all the above trades
Closed trades:
Short EU; +36pips, hit SL and stop out
Short EJ; +13pips. hit SL and stop out
With minimum effort, entered and check once a day, great
