fx 53 trend following system

[FxViking]

I've been trading off the 5 min tf for about 6 months. My risk factor is much lower than 100 pts. Perhaps my method is a bit unorthodox but, I do use some discretion by trailing my stop based on current price action. Most of the time a move against your position won't just spike you out but, will go on to close above/below the base of an arrow.

Another factor is that, although I'm looking for 100 pt trades, if the market has real momentum and continuously making new highs/lows, I will let the position run. I'll move my stop to lock in 100 pts. which still allows the trade the potential to move further. This stategy, regularly, yields more than 100pts.

In all honesty, screen time is an essential in getting to know this pair and it's idiosyncracies. I don't, always enter a trade based purely on FX53 signals, although 95% of my decision making is based on the system. I might enter a trade slightly earlier if I've got half a signal on FX53 and price action justifies me "jumping the gun".

It's a tough market to trade but, FX53 does a great job at getting it right much of the time.

Thanks a lot for your help, Alan ! good answers to my dumb questions, helps with building my confidence

 

[bongofury]

ok guys 009a close to printing ?

 

[bongofury]

009 has been stopped with a small loss. perhaps not the best week to start but its been very choppy and very equity driven. there are 3 things that i have thought during the week
1. given how choppy the market is the stops are either too tight or not being moved up quickly enough. of the losing trades (there have been 4 out of 5) 2 have been in profit of 50 plus ticks.
2. i have found it hard to identify what has led to the entry price given in the order and except for once there is no follow up email with some detail of the thought process
3. the pro service is supposed to be multi pairs but all trades have so far been gbp/jpy.

anyone else got any thoughts. i know its the first week so this isnt a complaint just some questions.

 

[lemming7]

small point I made 15 pips on 009. I,ve been hammered on the ca2 entries this month after a fantastic run in jan.

 

[bongofury]

well done. i think my text was slow coming through so i missed the close trade before the stop !
any thoughts about the other stuff. are the trades being posted anywhere

 

[FxViking]

009 has been stopped with a small loss. perhaps not the best week to start but its been very choppy and very equity driven. there are 3 things that i have thought during the week
1. given how choppy the market is the stops are either too tight or not being moved up quickly enough. of the losing trades (there have been 4 out of 5) 2 have been in profit of 50 plus ticks.
2. i have found it hard to identify what has led to the entry price given in the order and except for once there is no follow up email with some detail of the thought process
3. the pro service is supposed to be multi pairs but all trades have so far been gbp/jpy.

anyone else got any thoughts. i know its the first week so this isnt a complaint just some questions.

Im not sure what you want the service to do for you, Bongo.

The whole point behind paying someone else to tell/inform you about trades with entry and sl etc etc - is just what is being delivered by the PRO service.

Regarding your 3 questions, I would strongly recommend that you read the pdf file that you sent before/at you signing up for the service. All of your questions where clearly answered there.

but in my opinion - either you pay someone else with more experience, confidence, knowledge etc etc about this then you do and you follow his thinking or you don't. If you don't, then the whole reason for signing up to the service doesn't hold much.

anyways, just my thinking - and yes I would have loved that the service made 500+ pips per day, but lets be honest, that's highly unlikely

P.S. - my CA2 trades have been difficult this so far month, like you Lemming
brgds

 

[mysterg]

1. given how choppy the market is the stops are either too tight or not being moved up quickly enough. of the losing trades (there have been 4 out of 5) 2 have been in profit of 50 plus ticks.
QUOTE]
Hi bongo. I make it that 004 netted nearly 400 points?

 

[bongofury]

hi . i thought the 004 trade was stopped at 13135 as instructed just before it reversed as the post by djrnky suggests. maybe i was wrong ? if you had not put the stop in you are right ...large pip profit. i was playing by the rules.

to mr viking..i am not complaining just trying to dialogue. i wear my losses.

 

[lemming7]

i was stopped at 13135 on 004 -100

 

[djenky]

Me too...

004 Stopped out @ 13135 resulting in a -100 pip loss.

Mysterg, are you playing by the rules?

I make the running total -167 pips for the first week.

 

[djenky]

...and the CMS Demo server is down again, should of stayed in bed!

Has anybody taken out a live account with CMS? If so, are the live servers any more reliable than the demo servers?

 

[lemming7]

i have a live acc with cms seems to be more reliable but I still get cut off sometimes not sure if thats not my internet connection living in the sticks dose not help.

 

[mysterg]

Hi djenky. Not playing by the rules as I intend to demo trade the text service for the first month. Can't find any demo broker accounts that allow gbpjpy, so the signalled trades have had to be paper ones. I traded the 5 minute charts later that day once price broke 131.35 again as it looked good but decided not to leave the trade open, hadn't even noticed that it had been stopped out shortly after the market order was given

 

[bongofury]

TRADE 010 produced nice profit. there was more but im trading this as it says and separate from my normal trading account. nice to get some pips back as im using a larger account than the suggested opening. was also nice to get a little info on the background to the trade.

 

[FxViking]

Yeah, does help the confidence in the trade when a explanation follows, but again, Kevin is a busy man, so I wouldnt expect that for every trade.

Bongo, you using the 5 % of a larger account or using a lower %, as it could be quite a large drawdown with a larger account in €€€'s term

 

[bongofury]

the former. it could be large ££ up or down you are right. it is not my only account however.

 

[bongofury]

just go P012 trade. yesterdays winner was 010. what happened to 011. no text or mail ? did anyone get this ?

 

[bongofury]

sorry. false alarm. it was an error apparantly. decided not to take 012 straight away. this pair seems in an uptrend for now and £ looks well bid across the board. looks like it triggered by 2 ticks? has rallied to 13850. may go in here. has anyone asked kevin about other pairs ? also are trades going to be posted anywhere ?

 

[djenky]

just go P012 trade. yesterdays winner was 010. what happened to 011. no text or mail ? did anyone get this ?

Did n't receive P011 either.

 

[djenky]

sorry. false alarm. it was an error apparantly. decided not to take 012 straight away. this pair seems in an uptrend for now and £ looks well bid across the board. looks like it triggered by 2 ticks? has rallied to 13850. may go in here. has anyone asked kevin about other pairs ? also are trades going to be posted anywhere ?

I think that the P012 trade has been triggered by the price divergence on H4. RSI is also approaching over bought. If it's as successful as the previous divergence we should be looking at several hundred pips.

We did get one trade on GBP/CHF last week but was not executed.

If the service is successful I'm sure that the results will be posted.