I’ve backtested Macfibo, for several years, and I’ve forward tested (papertraded) for several months, and after all i started to trade on real account in may 2012. I earned about 300 pips between may and august, but unfortunately i burned all my win in september…
Close to 0 I decided to stop trading the system, in late september.
I traded only the main signals.
I also made an expert advisor with the help of my friend, but its pointless. The EA made consistent losses. According to my analysis, the main problem is the significant support and resistant lines. Of course we can determine it as the last several days highs and lows (as Sufian suggested). We’ve checked it out, it is still not working.
After lot of experiments with the EA, I started to backtest manually. According to Sufian’s rules, the determination of the significant SR lines are completely subjective. I made that conclusion, when I backtested some periods twice, and the backtest results were different, but I used the same rules. The only difference was the determination of the SR lines. At this point I realised, that the system is really sensitive for the SR lines, and without good SR lines it can’t be profitable.
The other problem is, that Sufian made a trading report in this thread, and I checked the trades in that sheet, and compared them to my sheets, and they are really different. It seemed, that i made some really bad trades, but Sufian just skiped theese ones. I tried to ask why, but he disappeared, so it’s still a mystery
I’m really disappointed, because i’ve made tons of efforts in this system, and I felt I’m really close to the good results.
Unfortunately Sufian disappeared, and everybody else, who started to use the system, so i also don’t know the final answer
If anybody can help me, it would be great, and also I’m really happy to assist to anyone who is still reading this thread.