Advanced system #13 (The Floor Trader System)

Anyone trading this system on the daily chart in the forex market?

hi all, thanks for a great startegy !!! re entries am I correct in assuming that say the cross of the 2 EMA's is in fact not the entry but rather the first pullback ? what I have noticed is that soemtimes there is a cross and it just keeps going up or down with no retracement for say 30 0r 40 pips any ideas here would be great; re trailing your stop; what are people finding the best; trailing on the 9ema or 18ema on 5min or the 9 or 18 ema on the 3 min?
many thanks for this any other comments or ideas on this strategy from people using it would be great.

Tom
australia

Hi Thomas,
thanks very much for your answer. Would you also like to share your success stories with this system. please do not mind. Just to Raise the confidence level :-)
Regards,
Muhammad Fahad

Muhammad,

I'd say you'll never go wrong with EURUSD & GBPUSD.
Other pairs of my choice: EURGBP & USDJPY.

Thomas

Hi Everyone! Can anyone please expalin about the currency pairs on which this system can be applied to get the best results? Instead of dividing time in many currecy pairs I think it is more appropriate to invest time in one or two best currency pairs on which this system can work best.
I will aprreciate the comments of pros & those who are confident in using this strategy in specific currency pairs.
REGARDS
Muhammad Fahad
Kingdom Of Saudi Arabia

Hi, just to show that this works on a daily time frame, both trades were taken live.

Excellent Trading System, I now use it almost exclusively.

Happy Trading

The strategy never stopped working.
BB settings are either (8, 2) or (20, 2) whichever makes more sense to you :)

cheers,

What data do i need to put into the BB for this system?

and is the system still producing positive results?

thanks

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

can anyone explain what is a Pattern Stop?

Thanks for sharing Rahul and Edward.
What time frames do you like best?

Best of Luck,

Michael

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

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

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

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!