The Koala System ( Newbie Friendly )

Trading Systems Free Forex Trading Systems
474

Hello Fxster:

I hope that Mr Koala doesn’t think that I have hijacked his tread, this “system” is quite similiar and I hope he will join in also.

Look at the four major currency pairs, EUR/USD, GBP/USD, USD/JPY, USD/CHF.

Select the pair with the most current pronounced down or up trend.

For instance both the EUR/USD and the USD/JPY are trending heavily.
I like both trade possibilities so I entered both fairly deep into the trend. I don’t know if the trends will continue or not, neither does anyone else.

I don’t think that any system is capable of predicting future price action. (probably a lot of disagreement here)

Once you identify the pair that you want to trade, get in right away and set your SL, I use 25 to 30 but you may like some other figure.

Monitor your trade and keep adjusting your SL to maintain the pip distance between bid or ask price depending on if you are in a long or short trade.

Never adjust your SL lower or higher on a loosing trade, let it take you out of the trade. You will stay in a trade until you are stopped out. No need to figure an exit point.

This means staying in a trade for as long as it takes to get stopped out, yes overnight too. :slight_smile: I’m going to stay in the trade through the Saturday break also.

This is an effort by me to have a very simple system that is capable of providing a profit on 1 out of 3 or 4 trades.

Will it work, I don’t know, but I am willing to test it using real money.

If anyone is interested I will post my results here daily.

I’m open to questions or ideas too. :slight_smile:

Keep on pippin’,

475

i think Mr Koala will welcome ideas.

But hope u dun mind, i dun really agree with the idea, because it doesn’t identify any entrance.
there’s a 50:50 chance that u’ll enter right before retracemenet, which is easily more than 50pips, i.e. 25pips will not be sufficient.

The first concept of riding on the trend, i totally agree. But it is more important that u dun enter right before retracement.

Just my 2 cents

476

Hello Fxster:

Thanks for your input, I agree with you, it could and probably will happen that way at times. No system can guarantee that a retracement won’t begin as soon as you place your order.

My goal is to take all of the mystery out of a system and make it as simple as possible. By identifying the current trend I think that we put the odds slightly in our favor which gives us a trading edge.

As long as we are consistent and follow our plan by identifying the current pronounced trend I think we can be profitable.

By the end of next weeks trading we will have some figures to examine and will be able to make a determination of it’s usefulness.

Keep your ideas coming, after getting some data we may be able to tweak this and make it work better.

Syne

477

hihi … sorry was busy…

NO IDEAS OTHER THAN KOALA ALLOWED !! joking :stuck_out_tongue:

welcome all since we are here to learn together…

however try to keep extended discussions to the betterment of the koala system… heehee as there may be totally new folks reading and i dont want them to be confused ! i live to serve the newbies :stuck_out_tongue:

478

Hello Mr Koala:

Welcome back, so far, in your absence, we have completely destroyed the Koala System! haha joking.

Do you have some current trades that you can post, I’d like to see your entry and exit points.

Thanks,

Syne

480

Hi all, find below the latest The Koala System Weekly Review from my blog posted here for your convenience!

Good day forex traders.

It is time to take a look at the potential performance of The Koala System for the past week.

In the last review, i mentioned about the new 30 pips take profit value. While it may result in higher chances of success, it may also result in more stop loss being hit. The reason is because the maximum stop loss we can set is probably 30 pips to maintain a minimal win loss ratio of 1:1.

Looking at the EUR/USD chart above, we see no trade zones for most of the week. The Koala System is a trend trader. Shaky unstable market conditions are not conducive for it. The continued sentiment break down of the Euro Zone brought many knee jerk reactions.

Having said so, this is where the 30 take profit value shines. As 30 is relatively small, this is akin to a precision strike! Enter, harvest the pips and bail out. However as i mentioned, the stop loss is equally small and hence you must be patient and wait for good entries. Otherwise the market will harvest you!

For folks just joining us, you can view The Koala System rules here. Once again, the 200 EMA is an usual addition, often showing the areas of support and resistance.

A long time user of The Koala System mentioned to me that he uses The Koala System as a confirmation that he is not going against the trend when he is trading. At the end of the day, as long as The Koala System helps you one way or another, i am glad :slight_smile: We are here to learn forex together and hence i welcome ALL suggestions :slight_smile:

With the market now in a critical stage ( you can read the EUR/USD Daily / Weekly Reviews ), it is important that you practice proper money management.

Trade safely and i’ll see you next week!

483

managed to a small 20pip yesterday morning.
sell at 1.1922, set tp at 1.1887 (a 35pip), but chicken out at 1.1901, when it retraced, before it wen bk down to 1.1876.

484

did u manage more?

i love how 1.1934 is turning out to be heehee

485

yup got anoter 30pips on the up erly yesterday and TP at 1.1974, slightly below the highest of 1.1982, then drop all theway down. phew…close one there

486

Gain a total of 50pips duing erli of the week, then was wipe out completely by about 65pips losses yesterday.

I set a TP at 1.2078, shot of the highest by 5pips only!!! then it went back down to touch my 50pips SL.

487

hmm why the sl so much? did u do excessive risk?

488

2 reasons:

  • roughly 15pips below the support line of 1.2
  • Koala system says 50pips SL.
489

Koala system works when trend is strong. but does not work
better on small timeframe and when there are wipsaws.
How other traders deal with this using Koala’s sytem.
Please shower your knowledge.

490

lost another 40pips!!
looks like this is not my week.
hopefully next week, will be a good week.

491

fxster… sorry i tot u trying 30 TP too hence i was wondering y loss of 60+.

I broke even this week… quite a tough one for me too… this crazy 1.2 is lol

shaival… for me, i really wait patiently … find this gives me more time for other things too :stuck_out_tongue:

492

actually most of the time is 30TP:50SL, but it’s not on purpose, but because of situations like S&R lines.
Hence i dun fix the TPSL, but i try to make my profit ratio not less than 30:50.
i saw an article somewhere about balancing profit ratio and win rate ratio.
Higher profit ratio, reduces the win rate ratio and vice versa.

493

yeah i mention b4 too win lose ratio !!

494

Hi all, find below the latest The Koala System Weekly Review from my blog posted here for your convenience!

Good day fellow users of The Koala forex trading system.

In the last review, we noted that it was a challenging week. There were no trade zone signals on throughout most of the week. The ongoing sentiment break down of the Euro Zone brought many spikes. These spikes were definitely not optimal trading conditions.

We also explored the possibility of having 30 pips take profit value instead of the usual 50. The lower take profit value allows one to potentially exit the market sooner thus minimizing the risk. Having said so, with a lower stop loss value, entries must be more accurate to prevent unnecessary stop outs.

Looking at the EUR/USD 15 minutes chart above, it was obvious that the week was a very challenging one. Most of the week resided in the no trading zone as the currency pair spiked and flipped excessively. A 30 pip take profit would really help here due to the excessive volatility. One word of caution though, if one had been impatient, the spiky nature of the currency pair this week would have wiped out a 30 pip stop loss easily.

With the battle of the bulls and bears running into a tug of war, the only two opportunities were presented in mid week when the momentum was clean enough. These were 30 pips opportunities. A 50 pips deployment would probably have met with an unhappy end.

While the week was bad indeed for The Koala System, in a way i was satisfied with the system. I spoke to a number of traders and they had a tough week too and therefore this adds further validation to the accuracy of The Koala System’s signals. If it is a no trade zone, it is probably really a no trade zone.

For folks just joining us, you can view The Koala System rules here.

As the currency pair is really going through a tough time, it is crucial that you plan your trades well.

Trade safely and i will see you next week.

495

fxster and all. lets do our best to make this week a great green week :slight_smile:

496

I set a buy stop at 1.2230 (i.e. 30pips above 1.2 resistance).
What do you think?
Downward bias or upside bias?