Hello to all. I’m looking for a mentor/friend whom I can speak with regularly regarding trading.
I’ve been trying to come up with a system of my own (one in which I will eventually write to an EA). I’ve tried numerous combinations of indicators and entry/exits at multiple angles, but cannot settle on any system. I’ve tried the live a few times (hovered around even), but most of my work is demo/backtesting, as I’m very risk averse.
All I’m looking to gain for now is 10 pips/day, or 50/week, or 250/month. I believe such goals are reasonable. While no one can tell me a system to use, I hope this mentor can help find mine. Thanks.
P.S. Please do not advertise to me a system, robot, or service that costs an outrageous amount. I’m looking for people to help me find my own system.
hi, i am new to forex also and im not sure how much help ill be to u. but i am also looking for someone i can chat to regarding forex. i am also looking for a good trading system and if i find one that works ill let u no, cheers!
Interesting post. If your risk adverse I would strongly advise not to trade FX even a conservative aproach is risky. You also state that you do not want to be advised on a system of trading as you wish to develop your own… good luck with that. A pro trader takes two years to train with all the resources at his disposal.
If your looking for a mentor I would suggest you adopt a less rigid criteria. A mentor should you be fortunate enough to find one here on BP and I can only think of three or four will not take kindly to being your appendix. These guys get paid huge bucks for what they do. Why should they impart their time and knowledge for free to someone whos going to take it under advisement. Reality check… these guys get paid by big players for their knowledge.
IF YOU REALLY want to follow someone system just join a treath. put your questions and follow the rules. there are many systems posted here on babypips.
my advice is: get your one system. is very hard to follow other guys system because you will not have enough confidence on them.
Heres a very good system to follow, it works off the 15 minute candle. You just have to go to this link and watch the videos. the-natural-flow.com/back/backfut.html Hope this helps you get your pips. Larry
For the record, I didn’t necessarily mean “free”; I’m not that naive! As to myself being “risk averse”, time has shown those type of people to be the most successful traders given good money management and risk management skills.
Heres a screenshot of my 4h TF chart on EU & GU. You can trade this system on 1h and up. And no money has changed hands. :D:D
Might need to expand to 500% to take my settings off the screen. Currently in a counter trade against the trend. Trend on both currently south… but worth a few pips if taken at the right time.
Take trades on the 2:1 boll flat top/ bottom when PA enters the 2:1 tunnel after wicks outside the 2:1 boll. Additionally take the 2:1 trade when PA is outside of the 5:1 or 10:1 boll. You’ll get the idea from looking at my charts.
Sorry dont have it PDF. But its simple enough in any event.
Have open a 1h TF, 4h TF and day chart. Put on each TF chart a 2:1, 5:1 and 10:1 bollinger band (different colour bolls makes it much clearer). Also on each TF chart put up a 100:1 & 100:2 bollinger (both the same colour).
The idea is to take the trade on wicks outside of the 2:1 boll when the 2:1 boll is itself outside of the 5:1 & 10:1 boll back towards the center line 5:1 or 10:1 boll. You use the longer 100:1 & 200:1 to gauge the extremes of PA movement over the longer period. Also put in the daily S/R lines on the 1 & 4 hour charts.
Hope this helps.
PS. As I write this I’m in a short trade on EU. You can clearly see the entry criteria on the 4h chart with the above settings.
If your risk adverse I would strongly advise not to trade FX even a conservative aproach is risky. You also state that you do not want to be advised on a system of trading as you wish to develop your own… good luck with that. A pro trader takes two years to train with all the resources at his disposal.
Reality check… these guys get paid by big players for their knowledge. 
