Look how quickly the minions label us. Desomond your a genius for creating your army. Well done my friend. I have no doubt that this project has worked perfectly for you. But alas probably you and the select few who have inputted into this project will reap the rewards. The rest will fail. Why because at the end of the day they will be trading a system, they didn’t develop, don’t understand and don’t have the discipline to follow. Minions you are far better off heading to zulutrade or autotrade and following a successful trader there. Better still, spend years doing the hard work for yourself and not relying on others. But each to their own. I do recommend a bit of side research on the turtle traders. Best of luck minions you’re going to need it.
Desomond, my hat’s of to you, YOUR work is very impressive. Couple of quick questions, from your facebook page I get the impression this is a scalping strategy, is this correct? What brokers are you working with. Have you done any back testing? How did this system worked in 2008 and 2012? Is there more favorable pairs. How does currency correlation affect the performance? Are you the only one that has used the indicator so far? Why fib’s bro? So many questions.
I really appreciate your questions, bobbillbrowne, they’re constructive questions and should not be ignored. The manner that they are put forward, though, such as calling fellow babypips members and friends “minions” leave a lot to be desired.
Anyway, anyone who trades a system they don’t understand and don’t have the discipline to follow would definitely lose money. By all means, go to zulutrade or autotrade if you wish to leave your trading account’s fate in the hands of something you have completely no control over, follow overnight wonders and blow your account up in a month or two.
So the interesting question to ask is : why in the world do you think I advocate a culture where people using the indicator don’t receive the necessary education and training to ensure they trade well? Isn’t it obvious through my reluctance to release this indicator that I don’t want people jumping on it, using it wrongly and losing money? I believe you are approaching this with a very prejudiced view that everyone who creates his own indicator for the public is an evil overlord trying to get his minions to do his bidding. It never occured to you that I take a very personal approach to the people who use this indicator, to the extent that they’re my facebook friends I speak to frequently.
Anyway, it is a scalping strategy. Why fibs? Personally it’s because I believe there are only 2 leading indicators in the world today : volume (which we can never accurately attain) and fibonacci. Everything else is a lagging indicator. I am using Interactive Brokers as my broker because of the lower cost when executing 1 lot positions and the lower spreads they have. I think you’re asking if I’m some affiliate or introducing broker to some broker, to which my answer is not (I find it amusing that you’re so suspicious lol).
The system operates with a tight SL and TP trading off key fibonacci and resistance levels across 5 combined time frames. Trades last anywhere from 1 minute to 10 minutes max. It has nothing to do with the overall market trend during 2008 and 2012.
In terms of favourable pairs, it is AUDUSD, EURUSD, GBPUSD, USDJPY, EURJPY, USDCHF. Those are the 6 pairs I stick strictly to.
Correlation doesn’t affect performance. You trade one pair at most two at one point of time, and each has their own unique fibonacci and resistance levels for us to trade off.
I’m the only one who has used the indicator, however there is a company that uses their own proprietary software (not metatrader 4) and broker to replicate a similar but less informative strategy and also experiences massive lag during high periods of volatility. You can check them out at this : link. If you looked at their youtube channel you can see how successful the trading strategy is, so much that hundreds of people and an entire company is built around using it. It’s used by the top 1% of institutional traders (according to them).
The downside is that they charge $3000+ for the software and $129 monthly. I did not reverse engineer their system, I just had a very very strong understanding of the magic of fibonacci systems and came up with my more accurate version - to the extent that i compared my own system with theirs on their youtube channel and realised it lags less, responses faster and is much much more informative and accurate, also being able to be used on every single broker who supports MT4 compared to theirs at FXDD and FXCM only.
Anyway, I believe that I’m good in trading but there’s always more to learn from others. The ideas that people can come up with along with the accountability is absolutely precious, that’s why I am looking for people who are willing to travel that journey with me and trade alongside me. I’ve went one step further to program a position management EA (Galaxy Trades Manager) that sets strict TP,SL and TSL positions while scaling out of positions and coded the fibonacci lines for everyone (Galaxy Trades Wave). All these are for the community I’m working with to earn real money with.
I have a world class system now and it’s bringing me a really heathy profit. I decided to share this with the community where it first started (babypips) that gave me the inspiration to code this into a metatrader format. And when I finally come back, I get flamed and judged by guys such as yourself. I’m glad I hadn’t released this straight away for free or that’ll be the biggest slap in my face as guys such as you pick it up, trash talk it, trash talk and ridicule the very fellow babypips members that had stood by me and you and with your prejudiced views, pass this off as some sort of turtle traders sham while wishing everyone luck (as they need it) while they work with a supposed con-artist such as me.
I’ll tell you what I’ll do : I’ll work with the current group of beta testers and any genuine willing soul (definitely not you) and we’ll show you and every prejudiced doubter out there how fantastic this system is by posting the results here.
Explanation : Even though this trade was not executed in the “sell zone (red)”, I still took it as I noticed the market has rallied up a bit and it his a key resistance level across 5 time frames. So I short the pair and placed a tight SL of 5 pips. TP was set at 10 pips but I scaled down to 8 pips as the orange arrow on the 1 minute time frame showed momentum was rising up.
I’ll try to get this working fully on metatrader 4 soon now that I’ve got the arrows working and auto-position management system working. It’ll be a lot easier for everyone to understand too. I’ll work on some tutorials and videos for everyone to better understand how the system works and work with those who are genuinely interested and have a teamwork mentality
This is really interesting, you seem to be making alot of progress! Looking forward to future posts! By the way, do you do all of the programming yourself?
First I have no interest in your work. As impressive as it is, I advocate propriety trading systems therefor I do my own thing. And I highly recommend it to others. Why? Well what do you think will happen when 100 beta testers summit only long orders for a couple of hundred lots to the same broker. Might work on a demo but live?
Secondly the only one I see benefiting from the community is you. You like to use the word “I” alot
I still took
as I noticed
So I short
but I scaled
I’ll work
and my favorite
I have a world class system now and it’s bringing me a really heathy profit
So to the community, good luck with that. My apologies if you we’re offended. Desmond, best of luck with your infinite monkey theory beta testing.
You have the worst form of analysis I’ve ever seen. Would you like me to refer to myself in third person form perhaps?
Do us all a favour and don’t plaque this thread with your negative presence. I’m sure you contribute very healthily in many other threads by prejudicely judging every other system, so go back to doing that please, I don’t need a monkey like you around, who for all his(its) talk so far, has not realised he hasn’t even tested the system yet and is naive enough to think a hundred traders can manipulate the multi-trillion dollar forex market.
Hey qwatt, glad you find it interesting! I do most of the programming myself. I’ll keep you updated on the progress and will be posting guides and tutorials soon. It’s a system that requires a lot of discipline and patience to trade.
Desmond, I’ll respect your wishes and leave you to it. People believe what they want to believe and if they want to believe in you well so be it. However minions if you want to succeed in this game there is only one person you need to believe in and that’s yourself. The greatest algro out there exists inside your own head. Believe in that. Believe in yourself. Everything you do desmond is cold and calculated designed only to benifit yourself. Try this crap at trade2win and bro how quick you would be shot down. Over at forex-tsd you would be only another dime a dozen programmer.
Don’t come to a public forum singing self praise. Its no praise at all.
Like you said, let them believe in it. Don’t be hypocritical and say let them believe in it, then go on to say they only need to believe in themselves. Some of us wish to trade together as a team and be profitable together, not everyone’s an empty noisy vessel lone ranger such as yourself. If you have nothing good to say, don’t say anything.
I received the most help here at babypips and forex factory that’s why I’m here. People like you make me remind myself everyday that there are undeserving idjits out there who are only critical and bitter. Glad that you’ve left this thread, please let it stay that way.
Multi-time frame matrix to analyze 5 time frames at once and to identify best retracement levels based on extremely strong fibonacci retracement levels
Smart position management (auto TP, SL, TSL and scaling out of positions)
Smart position overview (you get to see spread, position size and P/L all in one neat box)
Here’s a look at the “Galaxy Trades Manager EA”, a smart EA that displays your positions and helps you scale out very easily.
Hey buddy, yes there is. I’m releasing a beta and trial version for everyone to try so they can see first hand how effective this strategy is Thanks for your support and continued interest
