Cheers, keep us posted
This is what I see, as said did you take the right entry?
the following trade (SELL) was invalidated 1 pip from target, moving the stop to BE or Coral gave 0 or 9 pips
But then finally we got our homerun!
pitty I wasnāt in, if I were to be trading at this of day there is a breakout occuring right now, however I doubt we will get to target and SL is quite big
Hi Travelkoen,
I cant find the Coral indicator, my FXCM MT4 doesnt seem to provide the indicator?
Can you advise.
4X Mal.
Hi there Malcolm,
you should find attached in the first post (it is a .zip file)
Hi there. Your system looks impressive at first sight. Gonna give it a try. How long have you been trading it?
Travelkoen,
Iām in the USA and I use Oanda as my broker. I suspect slippage, but what can I do though? They are really the best game in town for a small fish like me.
From now on I will set my TP at 25 pips from the true crossover level, not where my shady broker decides to let me in.
Anyway, I caught a sell entry on gbp/usd about an hour ago. I chickened out and exited at +10 pips once it crossed -150 on the CCI. I think I could have done better but I am done looking at charts for today. I still have to go to a real job :56:
Overall I made +12 today. Thanks again!
Hello Moczubat, welcome to the thread, Iāve been trading this system for about 3 months now. Seldom had a really bad day, very seldom had a day without profit. The ones that are difficult are the ones where I am not paying attention.
Good job, any profit beats losing pips. I know what you mean with chickening outā¦ the trade you took on EU this afternoon is one of those trades I would have closed when it started sinking towards my SL. I learned to trust the system though and quite often it proves me right.
About the broker issue, you can always try to lower your TP to 20 pips and yes always set the TP from the original entry line, that is the safest. But putting it on 20 pips should even give you a winner here or there that leaves me with no or very few pips.
Hey,
thanks for the welcome. What do you mean by not paying attention? Because the system as you describe it is 100% automated. Also, when do you enter - after the candle close of the coral cross, or during it? Thanks!
Oh no! Not automated here, you have to be @ your screen when the move happens, otherwise youāre not inā¦Since we work the 5M chart situation can change in 1 or 2 candles, so when Iām working on charts to post here to frantically then I might miss out on some tradesā¦
I usually go in during the candle, has served me well to gain a few pips more but have to admit it has also lost me some. If youāre doing a fast moving pair like GY or EY then you might wait untill it closes as it often gives more then the 25 pip target. EU is another thing, often it is really down to the pip 25 pips when it starts reversing again.
Youāre welcome!
It took over 4 hours but it did come through
and thereās another playing out following that but I really need to get some sleep.
Come to think of it, I started doing this fulltime to have more time on my hands. That didnāt really play out well for meā¦
Good night and good luck!
Cheers!!! Ha neither do I, especially as what weāre experiencing here is delationary deleveraging, thus QE does little to the real economy. Itās funny to see the ridiculous bounces though on the mere whisper of the termā¦
I have been contemplating on how the world would look like without all these interventions: in Asia, Europe, US, BRIC countries and of course the big Pandaā¦
My view is that it might actually be quit ok, since it most probably would even outā¦
ā¦If only!!! On the system, yet to try but will next week. Appreciate you putting it up.
My pleasure, happy to be able to help people after messing around for 3 years, been profitable for about 3-4 months now so if you have questions, just pop 'em.
will try to post some more charts this evening. One note (will add it to first post later today), if you trade EU a 20 pip target is safer then 25
I want to ask 2 questions
1st : You said you are trying from last 3 yrs in forex. So, now you are in profits from last 3 months using this system ?
2nd : What about news while trading your system, do you watch out for news or not?
Welcome shahzadz.
1st : I was trading parttime for about 2 years before I stopped the bleeding (losing money almost every day), then I started making money little by little (on a variaton of this system) and after six months I decided I needed to start trading fulltime if I wanted to make it. I kept making small profits and since about 3 months ago I started making enough to actually withdraw money on weekly basis and thus make a living out of it. Not Soros-like profits but I live a good life.
2nd : I watch when the news will be but essentially it doesnāt change the rules of my trading system. If for example a SL is hit because it spikes then I have a new trade just below or above that gives me back my losses. Only thing that sometimes happens is a small loss or a trade that was winning. Next to news I also look at trendlines and important levels but only as a help to understand why system is slowed down or speeded up.
Another good trade today!!! I applied your reversal rules. Worked like a charm. I just wanted to break even but the reversal broke so strongly that I even banked a few pips. Thanks for sharing your story by the way.
way to go, that was one of the keypoints, when I started believing in the revearsal, at first I was afraid to take it but after a while it becomes a habbitā¦