Advanced system #13 (The Floor Trader System)

does anyone have an mt4 template for this system ?

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.

a good strategy, thanks for sharing it guys - i am a little unclear on the best way to exit trades though, what indicators to use etc - is anyone able to shed some light on this? would be appreciated

does anybody use this strategy on the TF emini with small time frame of 1min or less?

Here is another helpful indicator to use (with all trading strategies) Fibonacci pivots/support/resistance lines.
TFFibonacci_Pivots.ex4
Regards
Brad

Hi All, This site is Brilliant!!!!
I have set up the Floor trading strategy on the (Scalping system #11 (The Center of Gravity) I use as indicator for TP, direction and early warning overview. IE: the entire strategy is an indicator and visa/versa. Both are retracement-continuation trading methods. (Add Fractals and Stoch 6,3,3 for swing and trigger bars to make it even clearer) TF 5M.
Thanks for this site, your comments and for sharing. Good Trading to all.

Brad

Hey Stuart, I think 1% of risk is enough, max 2%. Every strategy will experience a losing streak one time or another and the 5% will wreck your confidence when this happens. You will probably make alot of cash with the 5% risk per trade, but what's the rush? Remember, even the best traders that trade hedge funds etc are more than happy with a 30% return ANUALLY. This is because of a very good reason, they have extremely strict money management. Take it easy, even with a risk of 1% you could do more than 30% a month if you trade the system properly. and then by compounding your profit you can reach your trading goals. This is only my opinion, hope it helps.

Good Trading

Coenraad Lubbe,

Hi, do you mind posting an example of your entry and stop?

Thanks

Update, did two trades today, 1 eurVusd, 1usdVjpy. Made 4% on my account with just these two trades and risking about 0.75% of my account per trade. Both were Level1 trades, I would only advise Level2 trades during serious market movement where a L1 would not be triggered. I also have found trades to be more successfull during the first two singnals/swings in a new market direction. I DO NOT trade the third swing/signal unless substantial new highs or lows are being made. Watch the hourly chart for resistance ad support! Trade this strategy only from 7:30 to 12:00 gmt, the reaons are 1, better signals earlier in the day, 2, concentration levels, do not trade such a concentration intensive strategy like this for more than few hours.
I posted this just to show that if only taking level 1 signals and being patient you can make very serious returns with this strtegy.
Good Trading

Coenraad Lubbe

How do we measure if the trade has travelled the height 2x of the set up distance? Can someone give an example? Very much appreciated! Thanks!

Has anybody figured out what the "Crossback Top" and "Crossback Bottom" phrases refer to?
Rudi

What pairs are you guys trading? I've been trading eur/usd and it's been going well, I use a profit level of 3-4 times as the amount I risked and set my stop at breakeven when I'm in profit as much as I risked initially. As for the ftse 100, this has been more difficult. What pairs do you think is the best for this strategy? I think if you only look to catch one good trade on the 5 min eur/usd per session with this strategy you'll do great. I've been trading it gmt 7:30 to 12:30 as David suggested ad it is truly going amazing. Good luck to everyone.

Coenraad Lubbe

Lino - Yeah sounds good, i've read up on 123 setup so i'd be interested in having a look into that aswell, especially in the time-frame you use and what you consider to be the 'best' waves. So yeah it would be good to chat. My skype is; Tayloredz

- Haha, i think about 1-2 trades per day but i have no statistic. As for the stop, i close them manually at a very set level, if it hits it i'm out no arguement, i also place a stop loss of 20 on all trades as an insurance. I don't trade in the afternoon because i gap trade the Nasdaq 2.30 US open for 2 hours.
And i sleep through closing my eyes and letting melotonin do its work ;) And i think the larger the capital the more limitations there are to doubling monthly, i think certain problems will arise, my target is always 16% per month since i started so its going very well!

Hey David, on average how many trades do you do a day? Do you use entry orders? If your stop loss is so tight you probably close the trades manually hey? Most brokers doesn't allow entries so close to market price. Secondly, why don't you trade in the afternoon? Lastly I would like to join your skype live chat while trading, what's your skype nickname. How do you sleep at night knowing your doubling your money every month?, you probably know how the growth curve looks, if you continue doing so good you literally be a gazzilionaire in no time. Haha

Hi David

I think chatting on skype live is a very good idea, what is your nick name there?

I trade the 123 setup, iv seen many trades that this system could of got me in slighty earlier, its basically my NO2 that you getting in. Would love to trade with you as those times are my favourite.

Oh, you can see my strategy on simple systems NO13A

Cheers Lino