Forex Trading Machine

[ZEPPO]

Sorry...

Thought I'd better post a reply as I started this thread!

Thanks to everyone who has taken the time and trouble to test this system, it looks as though it's a valid strategy that can be easily implemented. I will purchase a copy and see if I can incorporate it into my own trading plan.

Incidentally, I read on a previous reply that someone didn't have a real-time back-testing platform. If anyone is interested you can open a demo account with Alpari for their forex trading service. Visit www.alpari.co.uk. It's free and they don't bombard you with e-mails and advertising blurb. You get a download of Metatrader version 4 and (their) real-time quotes for fifteen major currency pairs. If you can program Metaquotes Language 4 you'll be able to back-test years worth of data at any bar length. Personally I was ok at programming on E-signal but I'm having problems converting over to Metaquotes Language - ho hum.

Wishing all good trades for 2007.

That would have been me, I guess; while I am at it, I would like to apologise for not keeping my word about posting my trading results - that is because I didn't trade!
I lost my broadband (the supplier who serviced me went bankrupt, apparently because the directors made a runner, with all of the business money in their pockets, of course ) and didn't get it back until a few days ago, by which time I missed a few trades, then it was Christmas, a forbidden time to trade for me; still I shall trade a few days after the New Year - real money this time.
I am convinced the system works - with wider stop losses, up to 300 pips away, and using common sense, ie., do not open a trade near support or resistance, and widen the profit targets when near Fibonacci levels.
The truth is, it is an eminently simple system, but there is no need to trade it mechanically.
I have got Metratrder 4 too, but forget about programming that - the language is far more difficult than Metastock, I'd need to learn C++ to write anything in MT4; damned good software too.
At this point I would like to wish everyone a Merry Christmas (I know, a bit late for that) and a Happy New Year.
Eduardo

 

[Dekoob]

Risk/Return RATIO

That would have been me, I guess; while I am at it, I would like to apologise for not keeping my word about posting my trading results - that is because I didn't trade!
I lost my broadband (the supplier who serviced me went bankrupt, apparently because the directors made a runner, with all of the business money in their pockets, of course ) and didn't get it back until a few days ago, by which time I missed a few trades, then it was Christmas, a forbidden time to trade for me; still I shall trade a few days after the New Year - real money this time.
I am convinced the system works - with wider stop losses, up to 300 pips away, and using common sense, ie., do not open a trade near support or resistance, and widen the profit targets when near Fibonacci levels.
The truth is, it is an eminently simple system, but there is no need to trade it mechanically.
I have got Metratrder 4 too, but forget about programming that - the language is far more difficult than Metastock, I'd need to learn C++ to write anything in MT4; damned good software too.
At this point I would like to wish everyone a Merry Christmas (I know, a bit late for that) and a Happy New Year.
Eduardo

Eduardo,

300pips is a huge stop loss, what R/R ratio are you working with on this strategy ?

I know that "Bird Watching in Lion Country" uses large stop losses, but the method he uses is based around a range trading strategy in which you are continually banking profits.

All the best for the New Year,

Dekoob.

 

[ZEPPO]

Ooops! I don't really look at that...

Eduardo,

300pips is a huge stop loss, what R/R ratio are you working with on this strategy ?

I know that "Bird Watching in Lion Country" uses large stop losses, but the method he uses is based around a range trading strategy in which you are continually banking profits.

All the best for the New Year,

Dekoob.

Yes, it is; but remember: the strategy is on daily charts, and 300 pips is beyond the normal range of the daily data, while 60 pips, and 100 pips, fall within, meaning that your stop loss can be hit within the same bar, forcing you out of a potentially profitable trade - it has happened to a couple of people, if I remember correctly, on this board.
Also, the targets are smaller than in "Bird Watching in Lion Country", which may range within 175-200 pips, and therefore more feasible; I achieve around 75% effectiveness on my exits, sometimes more, according to my MS software (points based).
Keep in mind, this is a mechanically tested system, I would not have taken some of the trades taken by MS, and my stop loss is absolute - if I think that I am going nowhere or if I feel that there is a change in mood in the market, I won't wait - I'll get out where I stand at that particular time.
Mark Rivalland comments on his Swing Trading book that rules have to bend to common sense sometimes; I agree.
I do not look that much to the RR - I prefer a visual inspection of the chart, to see how the strategy works, specially when close to Support/Resistance levels, and only in the case of Forex, Fibonacci ratios; anyway, the book says something to that effect, I just check it to have a feel.
I have faith in the strategy for now; back-testing will not tell me if I'll make money, but it'll sure tell me if I'll lose it, and I found 300 pips to be optimal, at least to my ulcer!
However, a word of warning: this strategy will not last long, as it depends on a daily range of price; if that range changes, say, if the volume traded increases, the range will probably narrow down, and losses will follow; also, look at what the $ does, if it strenghtens, the range is likely to shorten too, with the same results; likewise if it keeps weakening, with a broader range, and an increase in stop losses hit.
Be on your toes!
Eduardo.

 

[GFSignals]

As for "Bird Watching in Lion Country" I feel you would benefit from reading this book, whether you agree with what has been said or not.
And there is one more very helpful book to read "The Undeclared Secrets That Drive The Stock Market" by Tom Williams.

 

[ZEPPO]

As for "Bird Watching in Lion Country" I feel you would benefit from reading this book, whether you agree with what has been said or not.
And there is one more very helpful book to read "The Undeclared Secrets That Drive The Stock Market" by Tom Williams.

I second that; I haven't read Tom Williams, though; well, my birthday is on the 3rd. February, time to think about my present...Can you get it from Amazon.com?

 

[geoffparle]

Avi Frister

Thank you for your prompt reply, Corrado; I use Metastock EOD so I should have no problem programming the strategy in my own software, as long as it is not judgement based,ie. it can be programmed for mechanical trading.
The fact that it is a daily chart-based strategy suits me fine, so I'll have a go at purchasing the e-book.
Thanks again corrado.
Good trading.

Eduardo.

Hi, I'm completely new here and to forex trading. It's some time now since this discussion fizzled out so I would like to know.......are you still using Frister's method? Have you made any profit? Were you able to contact Frister to verify a refund could be made if necessary?
Cheers,
Geoff

 

[ZEPPO]

Hi, I'm completely new here and to forex trading. It's some time now since this discussion fizzled out so I would like to know.......are you still using Frister's method? Have you made any profit? Were you able to contact Frister to verify a refund could be made if necessary?
Cheers,
Geoff

Hi geoffparle, I'll use the method when I get the chance, ie., when wife stops distracting me from my trading! First, Christmas shopping, now, a trip to Barcelona...grrr!
I have backtested it and I'm fully satisfied, so far; I have made a point in an earlier post that the system will not last for ever, though, as markets tend to change: an increase in volume traded, or a severe drop to, say, 1.40, would likely make the strategy if not worthless, at least severely impaired, increasing losses.
I have had absolutely no problem contacting Arvi; as for the refund, well, I didn't need any, but the payment was made through PayPal, which has a policy to that effect: if you are unhappy, you will get your refund, wether Arvi Frister likes it or not!
Hope this helped! I've already missed enough trades as it it, get sick thinking I may well miss some more!

Eduardo.

 

[GFSignals]

Hi geoffparle, I'll use the method when I get the chance, ie., when wife stops distracting me from my trading!
Eduardo.

Hi Eduardo,
Probably it would be better to make an accomplice out of your wife instead of waiting while she stops distracting you from your trading. i.e. Suggest her to do the same what you do then get the pleasure from Forex together. LOL

 

[ZEPPO]

Hi Eduardo,
Probably it would be better to make an accomplice out of your wife instead of waiting while she stops distracting you from your trading. i.e. Suggest her to do the same what you do then get the pleasure from Forex together. LOL

Nice idea; I've tried that for the past five years and haven't been able to hook her yet! You see, she's very emotional, that is, she gets paralysed (what do I do now?) when she is in front of a screen.
A few months back, we decided to sell part of our holding in BP, the company for which she used to work; she told me that she would sell the shares from her place of work, as it would be faster and cheaper - something to do with BP brokers, don't ask.
Well, she got histerical; called me home, to ask me what to do -"So, sell" "But the prices are all over the place in the screen!" "BP is a very liquid security, millions of shares move hands on a daily basis; just close your eyes and sell".
After that day, I managed to make her read one of the books by Michael Harris (she hasn't finished it yet!) to get an idea of what trading is about, but deep inside, I think she's scared that I'll lose money.
You know, some people are simply not suited to the trading business; I think my wife is one of them, simple as that.
Eduardo.

 

[geoffparle]

Hi geoffparle, I'll use the method when I get the chance, ie., when wife stops distracting me from my trading! First, Christmas shopping, now, a trip to Barcelona...grrr!
I have backtested it and I'm fully satisfied, so far; I have made a point in an earlier post that the system will not last for ever, though, as markets tend to change: an increase in volume traded, or a severe drop to, say, 1.40, would likely make the strategy if not worthless, at least severely impaired, increasing losses.
I have had absolutely no problem contacting Arvi; as for the refund, well, I didn't need any, but the payment was made through PayPal, which has a policy to that effect: if you are unhappy, you will get your refund, wether Arvi Frister likes it or not!
Hope this helped! I've already missed enough trades as it it, get sick thinking I may well miss some more!

Eduardo.

Thanks for your help. I'm encouraged to try before I buy.

 

[Jetheat]

Cash Cow

I've done a short video review of the Cash Cow strategy in the Forex Trading Machine ebook.

You can see the video over here:
http://www.researchdig.com/ftm

Hope this helps,
JH

 

[ZEPPO]

I've done a short video review of the Cash Cow strategy in the Forex Trading Machine ebook.

You can see the video over here:
http://www.researchdig.com/ftm

Hope this helps,
JH

Excellent video, Jetheat; my only concern for you is that you are disclosing information protected under copyright and opening yourself to legal liability; by the way I'm not a lawyer, maybe somebody in this thread could comment on this.
But as I said, excellent work.
Eduardo.

 

[Dekoob]

Good Scam !

Well I have come accross some low life, but this takes the biscuit. !

Dekoob.

 

[Jetheat]

Its ok, I cleared it with Avi.

JH

 

[frugi]

I second that; I haven't read Tom Williams, though; well, my birthday is on the 3rd. February, time to think about my present...Can you get it from Amazon.com?

PM me your address and you can have mine for free. It's lacking its front cover and a thorough proof reading but otherwise intact.

 

[ZEPPO]

By the way, Jetheat, i forgot to thank you for the video; thanks.
Dekoob, would you mind explaining yourself, please?

 

[pssonice]

Cash Cow strategy in the Forex Trading Machine ebook ?

can t c anything connected to Forex trading

no rt entries no targest no stops .
this thread is worthless

 

[ZEPPO]

can t c anything connected to Forex trading

no rt entries no targest no stops .
this thread is worthless

So why do you bother posting anything on it?

 

[ZEPPO]

Missing post

Frugi, I have received an e-mail about a post from Jetheat which I cannot find in this thread; it reads:
"What do you need explaining about?
I don't understand.

JH"

I'll answer it anyway: it's not you who needs to explain anything, but Dekoob, in his post about the scam; what do you mean, Dekoob, I do not understand what you refer to.

Eduardo.

 

[Quickdraw2]

I've done a short video review of the Cash Cow strategy in the Forex Trading Machine ebook.

You can see the video over here:
http://www.researchdig.com/ftm

Hope this helps,
JH

Hi Jetheat,

I clicked on your link and noticed at the bottom of that website you have another link to a trading system you are using. You say you are doing fantastic with the Trend Manager system? If it is such a sure-fire system then why do you need the Cash Cow Strategy? Which is better - your system (The Trend Manager Trading System) or is the Cash Cow System better?

I'm not doubting you're system may be good, I'm just wondering those questions above. I plan to give your Trend Manager Trading System a try.

Finest regards,
Quickdraw2