Quite odd to see that your only profitable pair was huge in minus on my charts. This means you have different candles, i suppose. Also bare in mind, that i do not use exactly the same trading rules as you.
Also a quick update for the candle differences, i’m currently down -62 pips :55:
Though, i’ve changed the star pattern kinda back to the original SithJawa’s method. I will watch the current trend, this means if the trend goes up, i will only trade bullish stars.
But i also watch out for major support and resistance lines (weekly ones). If there’s a bullish star forming in a bearish trend, but it’s forming at the weekly major support level i will trade it. This means the total opposite of the trend.
hah! your results are almost exactly the opposite of mine! that shows how big a difference the closing time of 4 hour candle makes. So, you rode the AU trend all the way up to 1.0440…what a trend. Keep trading your times, and we’ll keep comparing results. If your’s keeps going good for a month, I might switch charts!
One of the things that made this impossible for me to trade was the having to check every 4H candle, I tried adapting to the 8H candles but news affected them too much.
Are you guys checking every 4H candle or a subset thereof?
Yep, that’s the most annoying thing of this system. However, the life of a profitable trader isn’t easy, hehe:D. I have to set my alarm twice while im sleeping to go out of my bed and check the new 4 hour candles. I also use the mobile Price Alert Service to send me text messages on my phone if a half T/P has been hit so I can manually move the S/L. So in fact I’m 24/5 busy with this system and never leave without my smartphone. And this was without the emotional side of trading cause of the fact that I was still trading this with a demo account.
Yesterday there was a little delay to create my live account, but I think i’ll have it this afternoon. I’ll start with 300 euro so I will only trade the same charts as Mones does. AUD/JPY and AUD/USD. After a month I will grab another chart and when my margin allows it I will grab the 4th one.
I will keep you guys updated with my results aswell.
Hey guys I have been following this thread for a week trying to read at least 20 pages a day and i think it is an awesome system … long llive sith jawa lol but im a little confused about the atr i know you use the first 2 numbers unless ofcourse the first 2 numbers is zeros but what my question is with the atr formula is that calutating the sl and tp price or the pip ranges and can someone tell me how profiitable would this system be if you only took pin bars and inside bars i’m really trying to get a grip on the stars but its really difficult just wanted to know you guy’s thoughts on that keep up the good work guys i have learned alot from you.
hey jawa i gotta question about inside bars you said to determine which way to trade to get the highest high and the lowest low of the 4 bars including the mother bar i did a trade this afternoon where the highest high and the lowest low was the mother candle is that still a decent inside bar .
Hey everyone, I just wanted to check in and see how everyone is doing with this system. Unfortunately, this thread appears to be dead, so I’m guessing this system didn’t work out as well as most people would have hoped.
I really like how mechanical this system is and I kept a trade diary over the last month to see what my results were with my live account. I will admit that I’ve had some really good weeks with this system, but I’ve had more bad ones than good.
In the past month I traded 74 total signals. 53 of them ended up being false and I was stopped out for a loss on each trade. Luckily, solid money management has kept me in the game and my account is still hanging in there. However, there has been no consistent profit that I’ve seen with this system. I’m sure this can be attributed to the fact that the signals I receive are wrong about 72% of the time. This makes me wonder if I should be trading in the opposite direction of the signals, since I’m clearly on the wrong side of the edge.
Anyways, I just thought I would update everyone. I think I’m going to try trading in the opposite direction and see if it makes any difference over the next month.
i cant help but to stop by and say how ridiculous some of these pple’s claims are.
Making hundreds of pips a day and thousands a week. (ironically most are newbies).
This is my first post here and i hope this can be a helpful one, especially to those newbies.
I am primarily a s&p futures trader for over 4 years. Had my fair share of crap initially, visiting forums like a lost sheep just like most of you. I came across this particular thread on my leisure browsing.
Let me start of by saying, if you think a simple system with simplistic rules can make u a fortune in this game where your edge is small, think again. If some one can be rich by stumbling across a thread on a forum such as this, there will be much more successful traders in this world.
I am sure most of you who put in effort to test this system will know what im talking about.
I can assure all of you, if you can consistently make 10 pips a day, you can be on your way to immense fortune.
I can also assure you most traders will never make 10 pips a day with consistency, let alone hundreds.
Put in the hard work required, learn the markets, understand them. Dont just follow a system blindly. The internet is a great place to learn, but it is also full of nonsense. Dont be blinded by the idea of a magic system which will generate you millions for free.
Remember, im not here to tell you guys you cant do it or to insult anyone. On the contrary, im am telling you that you can make it, but in another way. Through hard work and patience.
The naive will never survive in this game.
Good luck.
@ medisoft
You are the Superior Master Contributor and Member. I can rely on you . So do you see any substance in Jawa’s claim that with this system turning $ 1000 into 1 million in 1 year is practice EVEN 10 million is possible!
What a beginner trader like me should do. Either I should completely overlook and neglect this system or I should learn the system by heart and apply it as stated by Jawa and expect 1000-1500 pips per week (O my God! I have heard that professional traders earn 200 pips per week at max). But with this system expect the UNEXPECTED
Additionally, how pipcompounder and Mones have got nearly 1000 pips a week? Is there any logical explanation to this? Is there fault with the traders or the system itself?
Has someone backtested it extensively?
Have a look at the trading account of SithJawa (Daniel Bradcovich). 389 pip were lost!!
the only person named [B]Jason [/B] who reviewed with positive had ONLY one review written describing it as best system as it describes. So you may understand that who has written it.
Glad to see some of you agree with me. It shows that pple are thinking and not just naive creatures around here.
Firstly let me ask you (those who have questions about the validity of this system ). Do you think anyone would post a system that makes you millions for free on a forum, then sell it for 10 dollars a piece on amazon? Do you even think that person needs to do this?
I have read over 200 trading books, even those that costs money are mainly junk( and they are from the so called reputable authors with hundreds of ‘5stars rating’ on amazon. So I can only imagine the free materials. Not to mention also the trading experts’ chat rooms that ive been to, most of them are also dubious.
Im not asking you to be a pessimist, but with my experience, i would say its better to be one in this business where wolves in sheeps skin are everywhere.
If anyone really wants to learn how to trade, the only book i would recommend is Al brook’s. Note, i have no affliation with him whatsoever and i have no commercial motives posting here.
I have tried almost everything you can think of, more sophisticated trading approaches such as market profile, order flow, elliott waves, median lines whatever. The truth is, any system works some of the time, but no system works all the time. Its really up to the individual to make that some of the time counts.
Hope my posts helped some of you who just started out.
Cheers.
maybe using 5% of your account balance is a little extreme or maybe if you happen to make 200 pips in a single day you ought to call it quits for the week anybody have any thoughts on that kind of money management?
Trading is not easy, you will learn it one way or another. The idea to convert 1000 to 1000,000 in a year is “technically possible”, but not very likely to do that. Anyone that claims to get hundred or thousands of pips a week should be looked with caution.
Why pipcompounder and Mones got 1000 pips a week? Well, in a strong trending market almost any trending strategy is going to get lots and lots of pips. Heard about “the trend is your friend… until it bends”? If you entry a position on a trending market, and the trend continues, you can easily get hundreds or thousands of pips in a week. JPY pairs have an average daily move of 120 pips, so 10 days on a trend can give you 1200 pips.
But that is ONLY if you entry on a strong trend that continues for 10 days. Sith Jawa claims that his system works in any market condition. I can assure it not. On a choppy market, when the price is not going anywhere, this systems fails badly. I coded the strategy following the rules exactly as SJ says, and it depleted all the accounts.
Just think about this: if you have a winning strategy, that gives you thousands of pips a month, do you are going to sell it for only 10 dollars? Or do you are going to sell it at all? why not better use it to make you rich in no time? It is no sense to think that a winner strategy is going to cost only 10 dollars, sell in amazon store as an ebook that can be reproduced and shared on the Internet.
To be honest if I had such a super-duper winning strategy which can double my money in a week than I would never give it to any one. Trust me not to any one and not at any price!
Because I my self would get a much higher return from it than why should I sell it. And that even for $ 10
Is it possible to buy a car which can outrun a ferrari for 10 bucks?
Possible.
Is it likely? I leave that one to you :).
Would a car which can outrun a ferrari cost 10 bucks?
Again, possible.
Likely? Again you be the judge.
I just saw the claim of 5000 pips a month. Amazing what you can get for 10 bucks in this economy
