FREE FOREX STRATEGIES

Advanced system #13 (The Floor Trader System)


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 >>>


 


still working. always has been and always will be.

use only to catch trends. you'll get whipsawed in ranging markets.

Sorry guys, but I think most useres here are not ready for this business yet.

This strategy still working?

I really like this system because it uses both trends as some kind of oscillator to get into a position. But I am very skeptical about the results of this system on such small timeframes as 5 min. I programmed the strategy into an Expert Advisor to test the profitability and only use level 1 entry's. While on a daily timeframe the results are pretty nice (steady profit through the years) the results on 5 min timeframe are disastrous. You just get an equity curve going down with the transaction costs (pip difference). It doesn’t show’s to have any edge on such a small timeframe. Maybe price action on such a small timeframe is just to random.

Regards,

Neal

To the posters above:

MA´s:
It doesnt really matter what number or what MA you use, what matters is that you know how price reacts in relation to the MA´s you personally use.
Watch hours, days, weeks and months (and even better years) with price action and learn your setup.

To the others, I think you guys should read some very basic trading information before starting on this strategy. I suggest you use google and search for forex school or similar, as this is so basic, and I doubt you will receive any answer to those questions.

Good Luck

Hi Abdullah Al Sayeed,

MA - Moving Average.
You have several type of MAs, such as: EMA, SMA, WMA etc.

When you say "18 MA" it could be any type of the Moving average. When you say "18 EMA" you know that it's an Exponential Moving average.

S&R - Support & Resistance.

Best regards,
Edward

I am sorry but i am a newbie and i don't really know what is price action and s&r. Cold you please explain ?
Thank you.

What is s&r ?

Hey you all. So far it's a great system. But I'm confused with the setup. The original post says 8 and 18 MA but I have seen people commenting quoting 18 EMA. I am confused. Are they MA or EMA? Please let me know.

And this website is the Holy Grail for the newbies.

Regards,
Abdullah Al Sayeed

Why are people adding lagging indicators?? Trade with price action and s&r, that is all one needs, idiots.

Felician, u can read the previous 24 pages and maybe u'll find some feedback..duh

Hello traders,
Any feedback about this strategy! Is it working for you !!!

Felician

Hi Folks,

This method is a very efficient trading method. Of course there are many ways to improve the results or avoid too many loosers. I have studied the method, and I am using it every day and all I can say you will see patterns on all time frames and charts, so my best advise is to learn YOUR time frame or YOUR chart setup. I am personally trading this from a Daily chart till Range Bars and tick-charts. I also use additional tools to read price to find Support, Resistance and Consolidation Areas. And when combined, its very powerful.

Good Luck to all.

Hi, I have also been trying this method for a few weeks now, and have had some success. Well more success then any other systems I have learnt/paid for on courses!! I strongly beleive this method works with some minro filtering. Currently I'm using entries from 3min and 5min - level1 and level2 with MACD. However I do get cuasght sometimes, so would appreciate any further help... :). My email address is: pv_trader(at)hotmail.co.uk

REPLY: //Submitted by User on January 19, 2011 - 09:11.//

Hello,
do you have SKYPE,MSN or email?

THANKS

im using the range bars with this also, i thought i could use the 18/30/50 ema and take level ones off of each but some get me in the reverse and goto level ones on the other emas is there a way to optimise this?


 

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