Has anybody used this Manual Trading Strategy

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Hi wanelad,

yes that was a nice 1 hour work and ready for the day....for that reason I missed the nice gbpusd short entry....I really have to restrain myself not to trade on....

Hi Lucca, well done today :clap:

You did a lot better than me today :confused:

Do you always trade all 4 pairs just before london open ( 07:00am GMT) ?

How do you decide your TP price?

Did you use the 30min charts today or 5 min?

thanks

jon
 
Hello everyone,

I've had ProFX v2 for about a week now and am still figuring out the best way to start with it, but I think i will start with 2 pairs and was thinking GBP/USD because that is the pair used for the performance archive on the website and probably EUR/USD. If anyone thinks a differnt pair to EUR/USD will work better I'd be happy to hear from you.

I have spent the last couple of hours reading every post on this thread and I have to say that although I don't spend much time on forums and even less time posting, this thread has been very enlightening and I am very grateful to those who have spent their time to pass on their experiences.

From what i have seen, there appears to be littel to be gained in the long run, from deviating from taking the first signal of the day and applying ProFX's TP & SL rules, but I look forward to seeing if that proves correct.

I will continue to follow with interest and as my experience of ProFX grows hopefully contribute.

Many Thanks
 
Hi Lucca, well done today :clap:

You did a lot better than me today :confused:

Do you always trade all 4 pairs just before london open ( 07:00am GMT) ?

How do you decide your TP price?

Did you use the 30min charts today or 5 min?

thanks

jon

Hi Jan,
thanks for the compliments.....today was really fast and the entries worked out well.
But it could have been else, loosing 4 pairs could happen too....that will always be our risk....and often we have luck too...:)

When I am honest, I didn't looked at my watch...I saw the chart, the indikators and jumped in. My risk in eurusd was only about 25pips...
As my TP I take normally 70pips (as bearmarketbull already is used to..).
If gpbjpy or eurjpy has strong movement I set tp sometimes to 100....but always watching if it turns back...

Today I used M30 like everytime for entries (except last week).
When movements become weak I go down to m15, m5, m1 to check if the trend begins to break down. Today that was perfect to exit, but other days I exit an 1 min. later the trend continues 50pips more....you never know...

Lucca
 
Hi all,

I hope you all got this wonderful 100pips gbpusd and gbpjpy moves this afternoon...
I missed it because I didn't trade....
 
"When I am honest, I didn't looked at my watch...I saw the chart, the indikators and jumped in. My risk in eurusd was only about 25pips...
As my TP I take normally 70pips (as bearmarketbull already is used to..).
If gpbjpy or eurjpy has strong movement I set tp sometimes to 100....but always watching if it turns back..."



Thanks for all your work Lucca, what are you using for a stop loss strategy. I see for the Eur it was 25pips is that a percentage of your target? Was it based on support levels? Are you placing your stops in at the time of buy/sell or manually attending?

I note you seem to take many trades from break outs is that your trading pattern or signal driven??

Sorry for all the questions but we wont know if we don't ask Wayne
 
"When I am honest, I didn't looked at my watch...I saw the chart, the indikators and jumped in. My risk in eurusd was only about 25pips...
As my TP I take normally 70pips (as bearmarketbull already is used to..).
If gpbjpy or eurjpy has strong movement I set tp sometimes to 100....but always watching if it turns back..."



Thanks for all your work Lucca, what are you using for a stop loss strategy. I see for the Eur it was 25pips is that a percentage of your target? Was it based on support levels? Are you placing your stops in at the time of buy/sell or manually attending?

I note you seem to take many trades from break outs is that your trading pattern or signal driven??

Sorry for all the questions but we wont know if we don't ask Wayne

Hi Wayne,
your questions are welcome....
As you see on my charts do I have the white MA21. I use this as stop, normally in M30.
In the case of eurusd yesterday I used this MA in M15 as stoploss (about 27pips).

Entering a trade: normally I jump in, then within the next 30sec or asap I place my sl and tp for all. I don't like being in a trade without sl.
My entries are all based on the profx rules and having breakouts in my direction is the best thing that can happen...:)...and when you look at our arrows of profx, often we have these great moves after they appear....

One word about why I do all this work here:
Exposing my trades in public in this forum helps me, to think carefully, what I do in my trading. In that way perhaps I can avoid silly entries and exits....
...plus: all the performance charts on the page of forexeasystems.com (http://www.forexeasystems.com/forex_ea_softwares/profx/performance_archive/ helped myself very very much, just in comparing with my own trades...

I wish you happy trades today...
Lucca
 
Thanks Lucca using an MA is a good idea for a stop, I will test it see how it goes thanks. Yes posting and answering questions is a good evaluation practice I can see where you are coming from there, everyone gets the benefit self included thanks again
 
Crikey I am back again, using the 21M.A as a stop is it if price hits it - closes over it - has a cross over of say the 5M.A etc. ... From my take is if hits 21 M.A. you are selling at that point is this correct?
 
Lucca123

You are doing great after just 4 weeks using profx (so happy for you)

BMB

Thanks Bearmarketbull, I try my best.....especially today...

Today was difficult for me. All signalbars in M30 were very long...
The range of my success today was from +26pip to -25pips......

Results:
eurusd: +2pips
eurjpy: -35pips
gbpusd: -16pips
gbpjpy: +26pips

Total: -23pips

In gbpusd I had a really really silly trade, a long trade on the top...(n)

Anyway, the result isn't great, but I am content how I could handle the exits.
I was very careful today, in two trades I missed with this careness about 100pips....but in others it prevented me from losses....

I hope you were more lucky.....
 

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Lucca not that I like to see you have suffered a loss, however it has built my confidence. I too took a couple of hard lessons in the Asian markets thus the reason I was asking about the stop loss system you are using.

This is what I have decided from today - leave the Asian markets alone as they are too illiquid apart from maybe the last hour or so. Look for signals and break outs 3pm Aust onwards for directions of the UK markets.

Take the momentum and aim to be out by 7pm Aust, unless something pretty hot brewing. This is the most active time of the market and I think failure will be less often.

I did try to take a trade on the overlap of the UK -US markets but did not seem to have much drive eg liquidity.

This is the 1 trade that I took that fits this criteria (note the other trades took a fair chunk of the 59pips made from this trade) This trade had the signals from PROea mostly ticked, plus had the momentum of a break out in the UK markets leading up to major ann (buy the rumour sell the fact)

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Hi Wanelan,

Congrats for your 59pips..., successful trades are nice....

I'm glad to give you confidence....:)
Confidence into yourself and your the system is very important in trading....

I see you are not a profx user (because this thread is about profx) ....or do you use second charts for trading?

I wish you more of these trades in the next days.
 
Thanks Lucca I use PROea for entry but prefer the look of standard charts, therefore combine the 2.
 
This morning all looked fine for some long movement.
I entered all 4 pairs.

the gbp pairs moved nice but, I have to exit all, because all came back.

After the report 10.30 I took 2 short scalps and now it is enough for today.:)

All entries I took from m30, exits from m1

Results:
eurusd: -11pips
eurjpy: +3pips
gbpusd: +22pips
gbpjpy: +38pips

Total: +52pips

Good luck to all.
 

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This morning all looked fine for some long movement.
I entered all 4 pairs.

the gbp pairs moved nice but, I have to exit all, because all came back.

After the report 10.30 I took 2 short scalps and now it is enough for today.:)

All entries I took from m30, exits from m1

Results:
eurusd: -11pips
eurjpy: +3pips
gbpusd: +22pips
gbpjpy: +38pips

Total: +52pips

Good luck to all.

Congratulations Lucca - well done in your trading. I am using ProFxV2.0 and still learning. Unable to post charts atm because I am at work, but I would like to suggest a way to keep charts "nice and tidy" when zoomed. I posted this in another forum:

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Hi Alex and traders,

I like to customise things to suit my eyes, so here is a tip for you all.

When zooming in close on charts, you may find that Indicators "ProFx03 and ProFx04" will begin to overlap each other, and no longer give the clear signals that they do when zoomed out at the default setting.

A word of warning ... BEFORE customising your platform and making changes to the Template, be certain to give your customised Template a different name from the default original. Otherwise you will lose the settings that came "out of the box" with the ProFxV2.0.

Have a look at the first screenshot below - this is how the histograms look when you zoom in on your charts. Put simply, they do NOT share a common "zero" axis, because of the way they have been constructed.

So how do we overcome this?

The answer is not difficult to understand.

1) Zoom in closely to your chart, then move the candles along frame by frame using the F12 key on your keyboard, until the ProFx03 and 04 align exactly on the zero axis. This may take some time to achieve, and may involve going back to an earlier day or two when it is possible to achieve exact alignment of both axes.

2) Once you have found an exact synchronisation point, hover your mouse pointer over a higher or lower bar of either the 03 or 04 histogram, until you can see which histogram you have highlighted. RIGHT CLICK and bring up the "PROPERTIES" function, and click on "COMMON".

3) Check the boxes that say "FIXED MINIMUM" and "FIXED MAXIMUM"

4) Repeat the process with the other histogram, making sure that the same two boxes are now checked.

5) Go to "TEMPLATES" and then "SAVE TEMPLATE". Be sure you give your new template its own unique name ... eg "ProFx Custom" or something you choose yourself.

6) Now this template can be applied to all other charts, and you can zoom in/out without having the "floating zero line" issue.

Have a look at the second screenshot to see how the histograms can be made to align nicely, at the higher zoom setting.

Hope this helps.

Kind regards

Ivan

Footnote: Step 2 can be more easily achieved by going to the top Toolbar of your MT4 platform, and choosing the following:

1) Charts
2) Indicators List
3) Find indicator Window 1
4) Select "ProFx03" and click "EDIT"
5) make the changes recommended above to "Fixed minimum" and "Fixed maximum"
6) Repeat this process for ProFx04

That's all there is to it ... but make certain both histograms are aligned with a common "zero axis" before locking in the Fixed Minimum/Maximum values, otherwise you will be locking in a misaligned pair of histograms.

This is a simple customisation, but greatly improves functionality when zoomed in closer than the default setting, and can make the difference between spotting a signal as it occurs, or actually failing to see it.

*********************************************************************************

This is just a suggestion, Lucca, for anyone using V2.0 because I was having trouble with the histograms overlapping and becoming less useful, particularly when zoomed in closer.

I hope you find it helpful, and wish you many more pips.

Kind regards

Ingot54
 
Hi Ingot54,

thanks for your suggestion.
I had the problem sometimes and will check that out over the weekend.
Cheers,
Lucca
 
Hi Lucca.
I noticed you trade highly correlated pairs at the same time - like GBPUSD and EURUSD. Also EURJPY and GBPJPY. If I'm not wrong, it seems to me that's more or less doubling you exposure to similar sort of moves (most of the time)
Anyway - nice results.(y)
 
Hi Lucca.
I noticed you trade highly correlated pairs at the same time - like GBPUSD and EURUSD. Also EURJPY and GBPJPY. If I'm not wrong, it seems to me that's more or less doubling you exposure to similar sort of moves (most of the time)
Anyway - nice results.(y)

Hi bedsit,

yes you are right.
The reason for trading these pairs is bearmarketbull (a trader who lives from trading and gave in this forum a lot of good suggestions...).
And when you go through all pairs, these 4 pairs have really good movements and range to get good results.

Yes the risk to be stopped out with all pairs is real, but for that reason I observe the trades very strictly and jump out when they go in the wrong direction, like tomorrow....
But the chance to have four winners is also there.....
Normally eurusd is the slowest and the other 3 can be very fast, exspecially gbpjpy.
 
Hi bedsit,

Normally eurusd is the slowest and the other 3 can be very fast, exspecially gbpjpy.

I've traded all sort of major pairs apart from gbpjpy. IMO it's extreme.
Would be interesting to know if that's the least profitable pair in your experience (using your system)
 
I checked out my trading diary with my results of the last 9 tradingdays:
gbpjpy: +225
gbpusd: +53
eurusd: +168
eurjpy: +501
Thats only about 2 weeks, in the next two weeks it will look different....
 
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