I came across Nial Fuller quite some time ago, don’t know why but I just assumed he was British 
Thanks for the tip, I’ll give it a look.
I do try to smell the roses but time is certainly in short supply. Hope all is well with you.
I’m moving forward on my updated and hopefully somewhat more mechanical approach. I will post it all when I’m done enough but that may not be for a while yet.
Hi Matt!
Trading is going very well actually. Time is still in short supply, seems like it always is. I have settled on my method now and I have a set of rules that I’m evaluating. So far so good but I’m not going to post anything until I feel the foundation is solid enough.
What about you then? We both entered this year with largely the same goals as I recall.
This is awesome but it seems like I’m stuck in between.
The first million is still some distance away for me too, but I’m pretty sure now that I will get there. Like you say it’s a matter of putting in the hours.
Hello, i want to invest some money and i dont know much about forex and also i dont have the time to start manual trading.
I have the following questions:
Does anyone have an account with them?
Ive searched through the forums and i havent found much, is there a guideline or something about settings, signal providers etc?
Hey!
Been wondering where you went welcome back.
I agree with Matt’s advice. If you’re not really interested in managing your money actively then a fund would likely be a good option for you.
Btw I might as well add that my continued absence from this thread is in no way a sign that this thread is dead. It’s not, I will revive it again and present my method of trading which is producing good and consistent results. I just don’t have the time yet to do the presentation properly.
Happy New Year everyone!
I’m getting ready to present my method of trading some time in the next few days. If anyone remembers, 2011 was the make it or quit year for me. It turned out well and so I’m going to be around for quite some time.
I’m currently performing some changes to my broker accounts as well as reviewing any final modifications to my approach before the start of my 2012 trading year.
I was going to post this weekend but I’ve been quite busy so I’ll have to delay a few days. It’s a well known and widespread system I ended up with after the long desert walk I imagine most new retail traders go through. I’ve been using it for the better part of last year and with good results. More in a few days.
The answer is both yes and no 
Sorry, it’s been mad at work and busy weekends. Next week I will have several evenings quite to myself and I intend to get it done then. No later than next week, I promise!
All right. Let’s start warming up a little.
Allow me to present some of the requirements I had for this system:
I had in the past created systems, or methods if you will, that fulfilled some of the criteria above. But none of them had managed to meet all of the requirements. I finally figured it out in the first half of last year. Or so I think, only time will tell in the long run.
Clearly, as anyone who’s ever read this thread will know, I subscribe to the supply/demand view of the markets rather than any other. That usually means drawing lines, mostly horisontal ones, to mark zones where price has found suply or demand in the past. Doing this and maintaining such lines for many pairs conflicts with requirement nr 4 and to some extent also with nr 1. I had begun to realize that already back in late 2010. I, like many others probably, have searched for an automatic way of plotting where dynamic supply and demand is likely to be found on the chart.
Likewise I wanted a better way of seeing what the directional bias is than the usual moving averages.
Let’s suffice to say that I actually found what I was looking for… in Japan… of all places.
Give a warm welcome to Mr Goichi Hosoda, a man obviously several times smarter than I can ever hope to be, at least as far as trading is concerned. He developed what is known as Ichimoku Kinko Hyo, aka Cloud Charting.
That’s enough for tonight, now I feel warmed up
To be continued.
I will not explain in any length what the ichimoku indicator is, what it consists of or how to interpret it. The reason is simple - others have already done that and they have done it better than I would be able to.
Here’s a very good link for reading up: Main Page - IchiWiki - The Definitive Reference to the Ichimoku Kinko Hyo Charting System
We will not be utilizing all of the components of the ichimoku indicator. Instead we will use two parts of it and combine these two with another indicator. I know - indicators huh? What happened to the pretty talk of supply and demand?
Don’t worry, supply and demand are still the base of our trading approach. What we will see is just a mechanical way of quickly determining the trend and how to get in on retraces when they end and turn around.
More to follow
Let’s unveil the second indicator to go along with the ichimoku components. It’s our trusty old Bollinger Bands with one little twist. We use a 14 period setting instead of the more common 20 period.
The last part to complete the lineup is a reversal bar formation. We will not be all that picky, but we will want to see a decent sign that price action is reversing.
I’m travelling this week and I’ll be home again tomorrow night and then, for once, it looks like I will have the whole weekend to myself. I’m planning to put everything together in an understandable way then in something like a system description. Stop placement, TP, how to trail the stop etc. It’s all coming soon. Oh, and charts of course. Both cherry picked and the opposite.
When everything is posted I’ll decide whether to enter it into the system of the month contest here at BP, if they’re still running that.
Not sure there’s much point, there’s nothing very special about it, just something that works for me and that does have the quality of weeding out whipsaws rather well as well as more or less automatically keeping you in the direction of the trend (or telling you there is no trend).
They’ll be there. I don’t have MT4 on the laptop I’m using this week, so… but soon
Hi Magnus,
A very belated Happy New Year to you, Matt & others. (Maybe I’m just early for Chinese New Year? :p)
I have had a much needed break away from charts & banging my head against a brick wall. I have read much, learnt some & had time to apply little, but now I am fresh & looking forward to a successful year.
While I haven’t had my “AH…HA” moment just yet, I did reach the stage late last year where I reckon I have got a handle on things & I feel like I have turned the corner. You have both probably been there before. I actually traded well through November & early December. So I took a break while the market was thin & hard. That stopped me from a losing spell.
And now I am back home I have just caught up on some of my internet reading. I’m glad to see that you are happy with your evolving system & am looking forward to hear more.
Hope we all finish this year happy with our learnings & results. Cheers.
And a happy New Year to you too!
Here’s an image of a very trending pair, AUDCHF. We see clearly where the possible entries are, marked by the grey rectangles.
Why are these possible long entries?
Well, we’re above the cloud, price has touched or come very close to the lower Bollinger Band and then reversed. Last, price is above or crosses and closes above the Kijun Sen.
Mind that for this reason, the Kijun Sen, the gray area at the far right is not yet a confirmed signal to enter. I marked it to show that we look with interest for what happens with the next bar.
Stay tuned for a clear explanation of the entire approach.
In the meantime, notice the unusual timeframe, 8H. This is the timeframe I trade on nowadays, dailies turned out to be to slow for me and 4H required checking up on too many times during the 24 hours. I’m very happy with the 8H, if anyone out there has had the same troubles as I’ve had finding a timeframe that isn’t crippling slow but at the same time allows for a normal life with work and everything, have a look at the 8H is my 2 pips.
http://i923.photobucket.com/albums/ad76/o990l6mh/7c42197e.gif
[ul]
[li]Strategy: Trend following[/li][li]Instruments: XAGUSD, XAUUSD and any currency pair with acceptable spread and tendency to trend rather than to range[/li][li]Trade Records: MyFXBook will be used.[/li][LIST]
[li]Phoenix Foundation Ichimoku System | Myfxbook[/li][/ul]
[li]Performance Target: 10% ROC per month[/li][li]Funds Addition: Funds may be added at the close of a calendar month, but only after a profitable month[/li][li]Trend determinator: Relationship between price and the Ichimoku Kinko Hyo Cloud[/li][li]Indicators:[/li][ul]
[li]Bollinger Bands, 14 periods, 2.0 SD[/li][li]Ichimoku Kinko Hyo Cloud[/li][li]Ichimoku Kinko Hyo Kijun Sen[/li][/ul]
[li]Long Trade Signal:[/li][ul]
[li]Price is above Cloud[/li][li]Price has touched or come very close to lower Bollinger Band[/li][li]Price has reversed forming a reversal bar formation[/li][li]Price is above or has crossed and closed above Kijun Sen[/li][/ul]
[li]Short Trade Signal:[/li][ul]
[li]Price is below Cloud[/li][li]Price has touched or come very close to upper Bollinger Band[/li][li]Price has reversed forming a reversal bar formation[/li][li]Price is below or has crossed and closed below Kijun Sen[/li][/ul]
[li]Stop Placement: 5-10 pips beyond high or low of reversal formation[/li][li]Timeframe: 8H[/li][li]Stop: Trailed 5-10 pips below/above Kijun Sen[/li][ul]
[li]In some situations this is not practical and these situations may require a trailing stop a fixed distance away or a two bar stop or some other discretionary approach[/li][li]Stop can be moved to Break Even if the trailing mechanism is slow to achieve a risk free trade or if price action suggests the trade should be made risk free rapidly[/li][/ul]
[li]Take Profit: When Trailing Stop gets hit. At least 1:2 Risk:Reward is the goal[/li][li]Risk: 1.5% risk per trade[/li][ul]
[li]No more than 6% of account at risk at any one time[/li][/ul]
[/LIST]