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 >>>
The system is definitely tricky with all the variations of entries. Have you tried using only Level 1 entry?
Thanks a lot for your answer.
Not that I am only taking L1 signals but also I am using BB to help me filter the trades as it is shown in some of the charts in the original post. Besides i only take the trades on the side of the trend derived from my 30 min chart.
Less trades but more accuracy!
EURUSD has been very choppy lately, in a range-like uptrend (daily charts) with sharp up-down shifts.
It is not the best and easiest times definitely.
Best regards,
Edward
Hi Mr. Edwards,
I think You are one of the greatest men on this planet.
Mr. Rahul and Mr. User, U guys are a blessing to the world.
I just read through this post. I then backtested it:
1. Bollinger Bands(8, 1.8)
2. 9 EMA and 30 EMA
3. Pivots
4. Fractals
5. 5Mn, 15Mn, 30Mn.
Wao, this is the first time I would ever check a method on backtesting
and I would be happy. Usually, I just hiss and close the webpage.
I would start demo trading instantly. It even works in choppy environments.
Imagine. Well, i have no right to make other comments unitll i start making
real dollars, else I would have said this is the Holy Grail.
Sincerely Urs,
Panavacci
Hi Panavacci,
Thank you for your feedback on the strategy.
I'm very glad you were able to pull it out with "wao". This doesn't happen too often.
We all would be interested to hear the updates about your trading progress.
Best regards,
Edward
Thanks for sharing Rahul and Edward.
What time frames do you like best?
Best of Luck,
Michael
can anyone explain what is a Pattern Stop?
Hi Micheal,
that would be mainly 5 min, however, if there is an ideal setup on 15, 30 or 1 hour chart, it'll be traded as well.
The Pattern Stop will be the stop placed below the circled candles on the following screenshot:
Regards,
Edward
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