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Advanced system #13 (The Floor Trader System)

Submitted by Edward Revy on January 25, 2009 - 12:29.

Yesterday I've got another great feedback from one of our readers - Rahul.
He writes:

Hello Edward,

I think you are a very noble person because you are doing great work here helping newbies and also dispelling the popular myths about trading to show ppl the reality. I think you have a very good heart. Thank you for helping all our brothers and sisters out there in the forex world.

I have found a strategy which is the real thing .... it has been used by a contemporary of Denis Richard and used by many professional traders who have made millions from it.

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Submitted by User on January 15, 2010 - 11:59.

Here is a trade I took today. This system seems to work well when used with some discretion.

Submitted by Josh on January 15, 2010 - 16:29.

To clarify, I took the trade after the yellow circle with a limit order placed below the low of the candle previous to the yellow circle. I only took 10 pips TP because I am fairly new to this method.

Josh

Submitted by Las on January 26, 2010 - 03:18.

hey guys,

I just go trough and read bout this strategy.I post a chart below,is it correct the way enter the trade and my take profit including stop loss??please give a comment.One more question can anyone explain me about L2 and L3 because i dont understand about L2 and L3,it seems very complicated to me.Thanks in advance

Las

Submitted by Las on January 26, 2010 - 03:28.

Hey guys,

I just go through about this strategy.Can any one tell me more about the L2 and L3?it seems very complicated to me and I cant understand.I post a chart below,are my entry,stop losses and take profit correct?

Kindly regard,
Las

Submitted by Josh on February 1, 2010 - 01:06.

Hi Las, I don't see your chart posted so can't comment on how you are doing it.

I think basically it is different levels to look for reversal. Whether it's at the 18MA (Level1), between them (Level2) or near or touching the 9MA (Level3). I'm sure there's more to it but that seems to be the jist. I don't try to overcomplicate it. Just look for it in between the MAs (ideally nearer or piercing the 18) to start to stall and reverse. Here's another trade I just took with this method.

Josh

Submitted by User on February 1, 2010 - 10:27.