fx 53 trend following system

[montmorencyt2w]

The reason why I trade GBP/JPY is because of it's volatility. There are frequent, huge swings in the same trading day. If I recall correctly, about a week ago, there were moves both up and down that totalled 3,000 pts in one day!! I'm only counting moves of 400+ pts. in this.

This currency pair is nicknamed "The Beast" for very good reasons.

Many thanks. Not sure my nerves could stand anything that volatile.
Sounds interesting though. Thanks for the name, "Beast" - new one on me

Does it trend well?

Regards,
M.

 

[alan5616]

Many thanks. Not sure my nerves could stand anything that volatile.
Sounds interesting though. Thanks for the name, "Beast" - new one on me

Does it trend well?

Regards,
M.

It does trend very well, often 4 or 5 times a day but, not in the same direction: However, this market offers you the opportunity to make more profit in one day than you could by trading the Euro/$, Euro/£ for a week or more. A long trade placed on Tuesday morning would have produced a profit of 2,200 pts. in a couple of days.

If you've got a demo account, somewhere, trade it for a while and see whether this is a market you'd be keen to trade for real. How's your blood pressure?

 

[montmorencyt2w]

Thanks....if I am reading the chart correctly, it was about -7000 on the whole week ... is that right? Wouldn't have minded some of that

Is the main trend still down next week, would you think?

 

[montmorencyt2w]

Alan,

In one of your other posts, I noticed you made an intriguing reference to using fractals and/or chaos fractals. Can you give any pointers as to finding out about this?
Does this depend on particular software?

Thanks,

 

[alan5616]

Thanks....if I am reading the chart correctly, it was about -7000 on the whole week ... is that right? Wouldn't have minded some of that

Is the main trend still down next week, would you think?

I don't know which chart you're looking at. It was about +2,500 for the week.

I have no idea where this market is going next, such is the volatility. However, if I had to take a guess, I'd expect another move to the upside.

 

[alan5616]

Alan,

In one of your other posts, I noticed you made an intriguing reference to using fractals and/or chaos fractals. Can you give any pointers as to finding out about this?
Does this depend on particular software?

Thanks,

The use of fractals and chaos fractals depends on the software. I know that Metatrader and CMSFX have this indicator available.

 

[montmorencyt2w]

I don't know which chart you're looking at. It was about +2,500 for the week.

I have no idea where this market is going next, such is the volatility. However, if I had to take a guess, I'd expect another move to the upside.

Now I'm confused. I am not sure which chart I was looking at before, but quickly finding this:

Currency Trend Charts - Forex Trend and Buy Sell signals GBP JPY

which I think shows a change of around 2000 points on the week, not what I found before admittedly, but the GBP significantly down on the JPY. Were you talking in the opposite sense? Well, whatever, I will use the chart in IG if and when I trade it. I don't have my own charting software, and just tend to use free web stuff for casual views. Not really found an ideal one, so I tend to hop around for the moment.

Thanks for the chaos/fractals pointer.

 

[alan5616]

Now I'm confused. I am not sure which chart I was looking at before, but quickly finding this:

Currency Trend Charts - Forex Trend and Buy Sell signals GBP JPY

which I think shows a change of around 2000 points on the week, not what I found before admittedly, but the GBP significantly down on the JPY. Were you talking in the opposite sense? Well, whatever, I will use the chart in IG if and when I trade it. I don't have my own charting software, and just tend to use free web stuff for casual views. Not really found an ideal one, so I tend to hop around for the moment.

Thanks for the chaos/fractals pointer.

The longer term trend has been down, due to traders buying the Yen. It was seen as a safer currency to invest in, after the financial turmoil in the USA and Europe.

In the last week the £ has rallied against other currencies, including the Yen. If you wish to trade forex profitably, you'll be better served by using a high quality charting software plus a reliable data feed to populate it.

 

[Javelin]

I'm a newbie using fx53, but without the success you have. Are the 'levels' essential? Which time frames GBP/JPY are you trading? definitely I have been using too tight stops, having only a small account.

Thanks

 

[alan5616]

I'm a newbie using fx53, but without the success you have. Are the 'levels' essential? Which time frames GBP/JPY are you trading? definitely I have been using too tight stops, having only a small account.

Thanks

Hi Javelin,

FX53 takes a bit of time to get familiar with. However, once you do, it is a great piece of software. How tight are your stops and, which time frame do you trade off? For me, the best tf is the 5min but, always referenced to the 1 hr chart

 

[Javelin]

Hi Javelin,

FX53 takes a bit of time to get familiar with. However, once you do, it is a great piece of software. How tight are your stops and, which time frame do you trade off? For me, the best tf is the 5min but, always referenced to the 1 hr chart

Thanks for that - I've been using the 5 minute charts too but with the eventual aim of moving to the longer time frames. Ususal stops about 70 points but recent rapid trend reversals are dispiriting!

 

[alan5616]

Thanks for that - I've been using the 5 minute charts too but with the eventual aim of moving to the longer time frames. Ususal stops about 70 points but recent rapid trend reversals are dispiriting!

This market has been so volatile for the past month or so. If it helps, what I have been doing is to look for breaks above the base of the arrow that fed the low of the day. Likewise, breaks below the base of the arrow that fed the high of the day.

Another strategy which I have been using, successfully, is to trade specific CA2 setups off the 5min. By doing this, it's quite possible to trade with a risk of no more than the 70 pts. which you refer to. There have been some great moves but, some of the reversals have been frustrating.

 

[Javelin]

Thanks for that; however that's what I've been doing but chopped around by the turbulence.

 

[alan5616]

Thanks for that; however that's what I've been doing but chopped around by the turbulence.

It might help to go back to the FX53 video library, once in a while, just to make sure that you haven't missed something. I can watch a video 2-3 times and am convinced that I've got complete knowledge of all the information. I then watch it for a 4th time and could swear that something I picked up on wasn't there before

The last couple of days have been very difficult. We had the unexpected rate cut by the B of E, yesterday, which sparked a see-saw movement for a couple of hours. Today's early uptrend never looked too convincing, although it was profitable.

One other point. Are you aware of what FARPs are? There have been a couple, recently, on the 5 min chart, which were very profitable.

 

[Javelin]

It might help to go back to the FX53 video library, once in a while, just to make sure that you haven't missed something. I can watch a video 2-3 times and am convinced that I've got complete knowledge of all the information. I then watch it for a 4th time and could swear that something I picked up on wasn't there before

The last couple of days have been very difficult. We had the unexpected rate cut by the B of E, yesterday, which sparked a see-saw movement for a couple of hours. Today's early uptrend never looked too convincing, although it was profitable.

One other point. Are you aware of what FARPs are? There have been a couple, recently, on the 5 min chart, which were very profitable.

The only meaning I have for the FARPS acronym is "forward arming and refuelling point"!I'd be pleased to learn more. I agree about reviewing the fx videos and would be pleased for a blog from a successful user to check my own actions in retrospect...

How do you rate the useful of the 'levels'. I believe that they ought not be necessary, the general principle being the thing.

 

[alan5616]

The only meaning I have for the FARPS acronym is "forward arming and refuelling point"!I'd be pleased to learn more. I agree about reviewing the fx videos and would be pleased for a blog from a successful user to check my own actions in retrospect...

How do you rate the useful of the 'levels'. I believe that they ought not be necessary, the general principle being the thing.

FARP is an acronym for Four Arrow Reduciong Pattern. There is a video, in the library on this topic (or was last time I looked). Can you clarify what you mean by "the useful of the levels"?

 

[Javelin]

FARP is an acronym for Four Arrow Reduciong Pattern. There is a video, in the library on this topic (or was last time I looked). Can you clarify what you mean by "the useful of the levels"?

There is a video of setting the 'level' to a standard for consistency. I am not convinced it is necessary to do this for the signals.

I'll check out the FARP which I seem to have missed!

 

[Javelin]

Had a quick review of the videos - can't see any title suggesting a 4 arrow system! Might be buried in one somewhere but it'll take a while to find!

 

[alan5616]

There is a video of setting the 'level' to a standard for consistency. I am not convinced it is necessary to do this for the signals.

It is essential that your arrow levels coincide with those on the FX53 website. The success of trading, using the software, is based on this principle. This is your guideline for entering/exiting trades.

I have traded, successfully, using FX53, but, only because I make sure that my levels are correct and, I adhere to the rules. This software wasn't thrown together after a few beers on a night out. A lot of back testing was carried out and I know that Kevin Adams spent years perfecting it. FX53 wasn't made available, for purchase, until he was convinced that it would be an asset to those who purchased it.

Javelin; you have the best piece of trading software that I have ever used (there are plenty). I don't want to sound as though I'm lecturing you but, please, use it in the way that it was designed to be used.

I believe that Kevin is taking FX53 permanently off the market next week. He has sold 50 copies and that is it. If you want to communicate with me, via PM, then please feel free to do so.

 

[bthorold]

hi,
just want to introduce myself as a fx53 user, and was just wondering if there has been any updates on when the members area is starting?
ben