Anyone spot a trading opportunity?:rolleyes:
I am long EURAUD it cross some hours ago 
How about EG? going to cross upwards.
potential short play for AU
Hi All,
This is a great thread and I am glad people are making lots of pips! 
The system seems to work well and has some good solid rules. I was just wondering how we could improve it to help decrease our losses. My only concern is obviously having no stop loss - perhaps we could have a 100 pip stop loss?
I would be interested to hear everyones thoughts on how we can minimise our losses and maximise our profits
Thanks,
John
GBPUSD crossing short
Hi Phantom and all,
I am new to Forex,(one month in)
I have followed both your systems and had great results especially the new day one.
800 pips up in one week so far, demo account (shame!!)
I lost a few due to using 100 SL But you can�t win them all.
One thing I will remember from pip school is the trend is our friend also not forgetting support and resistance.
Thanks for posting this Phantom, had great fun this week.
Respect Gary
Hi Phantom,
Long time no post!
How is it going lately? Any new trades?
Happy trading,
Marius
I agree with John, ForexPhantom has something here.
My goal is to keep it simple. The basic approach produces lots of pips. On my charts I am going to place channels on the price and trade the ma’s in relation to the channel. period.
Stay away from buying into resistance or selling into support and be taking profit at s/r levels in conjunction with the ma’s.
I have been using your system for entries with good results. A simple trendline(or channel like a previous poster is using) can show you a good point to take profits or look for quality entries. My stops are placed behind or above the most recent swing after entry.
Good job phantom! Simple stratagies with a common sense approach always seem to be the most profitable.
Hello everyone,
The forum really seems to be gaining momentum and popularity. Lots of new posters and more views everyday. I am really excited about this and I am happy that people are enjoying the system. I truly believe it’s one of the best out there in terms of profit potential, ease of use, and minimal time watching the charts.
I’ve noticed that a lot of people are offering their suggestions to improve the system. My thoughts on this are mixed. On the one hand, I’m sure any system can be improved. However, as of right now, I have a 100% win ratio. Why complicate things? I’m not so sure that adding more indicators is a good thing at this stage of the game. I think the original system needs more testing before we can find the flaws. I think it’s premature to change it right now. Call me old school, but I agree with the old adage, “If it ain’t broke, don’t fix it!”.
Let me be very specific: I’m not so sure that adding any more [I]indicators[/I] is appropriate. But there are a few things that interest me in terms of maximizing profits.
As of right now, I am using a demo account. This will change very soon as I plan on opening a live account in the near future. I’m starting small with my account with the goal being to grow it dramatically over a short period of time. I’ll add to it as I go to build my leeway.
I want to determine the optimal lot size : number of trades ratio. I noticed today that when you can place one trade, you can often find 4-5 more. It seems that many charts “line up” on the daily charts and create crossovers at around the same times.
The question is: Do I play lots of trades with a very small lot size, or do I play only a few trades with a bigger lot size? I want to know which way will maximize profits. 500 bucks can provide excellent leeway with a .01 lot size, but I could also limit my trades to 1-2 at a time while using .05 lot size, for example. I’d appreciate input on this.
Also, I placed many trades tonight. Using a .01 lot size, I am +140 pips (give or take) with 5 trades total (one negative so far).
Keep it up you guys.
-ForexPhantom-
Greetings,
It occurred to me that I should be specific about my trades I placed tonight:
BUY – EUR/GBP @ .9095 = -5
BUY – USD/CAD @ 1.2399 = +53
SELL – EUR/USD @ 1.3392 = +49
SELL – GBP/USD @ 1.4731 = +59
SELL – GBP/CHF @ 1.6749 = +71
Total = +227
Take care,
-ForexPhantom-
hey phantom i been using your system with great success. thought i give my thoughts on SL. What i do is put a S/L of 300 on every trade and place .17 lot trade. My equity is 5000$ so that 1% risk. I only place up to 10 trade at once. meaning 10% of my account is at risk at MOST. my T/S is 100 on all currency and depending on the move ill breakeven a lot time before T/S.
Very nice setup. Is this a live account or demo? I think a 100 T/S is very good for the daily charts. 10% is risky according to most, but I’d do it. Thanks for your input. It definitely helps.
-ForexPhantom-
My trades at the current moment :
since yesterday,
EURAUD buy @ 1.8859 -32
EURCAD buy @ 1.6658 -45
just added in,
GBPUSD sell @ 1.4729 +55
GBPJPY sell @ 148.43 +77
EURGBP buy @ 0.9098 +3
Total : +58
Good luck everyone ^^
this is on a demo account. I may go live with this within a month or so depending on how well it works out. 10% is high but i think that is the border line on how much u should risk. Plus alot of time i dont hit my SL because i move it manually a lot too. If it at 50pip in favor i move from 300pip to maybe 200-150pip. no reason to take a big hit when your trade is in your favor. plus daily dont bounce that bad usuallly
thought i may add this. Risking 10% and opening a 10 trades at once seemed like a good number because since we trading the daily chart we could have trade open for days. People get worried about opening to many trade and then end up risking 25% 50% of there equity and get sick if they loose it all. Or they cant open up anymore trades cause they already have too many open. This will give you a chance to open many trades at once and not blow your account if all them go south in negatives
Hi ForexPhantom
I was curious if there were certain pairs you stuck to with this.
Do you have certain pairs you steer away from and if so why?
Hope everyone is well.
Hi All,
I am really glad this system is working for everyone and I do agree with forexphantom - why change winning system - I don�t think we personally need any more indicators as these seem to work very well, adding more may just complicate things.
The thing for me again like mentioned in my previous post is the amount of pips you go down before going into profit - perhaps if we made a stop of loss of say 100 pips this will help us improve our MM and thus would help us increase the amount of money put on per pip and be confident that we would not get stopped out before then going into profit.
How many trades would people have lost with a 100 pip stop loss - perhaps that too tight - Im interested in peoples thoughts, its not a criticism, as the system quite obviously works just trying to improve it
Thanks,
John
I too would like to hear about SLs on the Daily. The Yen needs more than the Euro for sure.
Also, does anyone trade this strat. on 4H or Oanda’s 3H? I am about break even on the 1H and want to go on a longer TF (+ the D. on FXDD.) d.