- What is Forex?
- How to profit trading Forex
- Forex trading strategies
- Range-bound Trading
- Money Management & Exit Strategies
- Forex Scalping
- Forex systems with MT4 custom indicators
- Systems in development
- Trading methods & ideas
- Create own Forex system
- Forex Trading Tips
- Forex Polls - results
- FSR Forex Forum
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.
Read entire post >>>
Hi, yes I am still using this system and it works well. It is very simple but effective. I don't think an EA would work well for this because part of it is subjective, recognizing a strong setup and passing the weaker ones.
Like most systems it doesn't work in all market conditions. The MAs can go into tight ranging periods where they criss cross tightly back and forth. This is when to stay out and is only learned by experience and using discretion. This isn't really a mechanical system. If you have any specific questions about manually trading it let me know.
Josh
What is the indicators and tf Do U recommend me to filter entries? To determinate major trend?
Can I use the same template?
Thanks...
Hi,
Where did you stop last time when testing the settings?
Were the default suggested TF and indicators working for you?
It'd be good to have a summary before we can work on improvements.
Best regards,
Edward
Would anyone like to create a trading room? if so, please post your interest here and I will look into contacting you...
Great idea, I think if we post this at FSR Forum we may get more replies.
Please feel free to create an account and open a topic there.
Best regards,
Edward
4 out of 5 trades will result in the price coming back to your original entry. Wait for the one that runs and let it run for days and/or weeks....Cut your losses on the 4 out of 5 that lose and let the one winner run for days or weeks... 1% risk management on whatever time frame you can afford for the setup.
yeah... AWESOME strategy..oh wait except I have only taken level 1 setups and lost 16 % of my account at 2% risk per trade over the last 2 nights.. GREAT!
i would be up for a trading room, that sounds like a great idea, we can discuss which setups to avoid and which ones we all feel have high potential.. has one been setup?
Post new comment