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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Please a fixed profit target of 30-40 pips or so, this will be your profitable exit. Please your stop at the last swing high or last swing low - this will be your another exit.
I've seen also traders suggesting putting a stop outside 18 EMA and trail alongside it with any new development.
You can do same with a help of parabolic SAR as well.
does anyone have an mt4 template for this system ?
Hi all.
Could anyone upload screenshots of their actual trades. Thanks in advance
Vagelis
I have never come across the term "Crossback Top" as a newbie.
Could anyone explain it to me? (a screenshot would be very helpful!)
Thanks
Jim
Hi Jim
as you can see, the strategy never explains this term and so far we haven't found the interpretation. Sorry.
Actually this strategy was copied word by word (along with charts) from site www.trading-naked.com. Since the word "cross-back" top is not defined there, its alleged author will not be able to reply here.
Correct. That's exactly what's been said on the first page. All credits go to that website, plus all screenshots has been taken from the source website too.
I believe "cross-back" means reaching a new high or low and then crossing back through the previous high or low. I think, "....5. If the market makes a new high, then "crosses back" under this price..." should read, "5. If market makes a new high, then "crosses back" under previous high..."
Steve T.
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