Thinking of trying a system

[pipper]

then this is the picture of your chart.

578 is red horizontal line.

so far, seems like price hit a trendline (red downsloping line). It broke out of a range (white rectangle), which is encouraging.

I dont have an opinion, i woud just say, my overall bias is south.

good luck

j

Thank you for input. I will be keeping a close eye on this, that is for sure. I am trading their swing based signals(they also offer position). Hopefully by the time I goto bed things will be in my favour, so I can set tighter stops.

These guys offer a 1 month guarantee, stating if I don't make a profit in 1 month(you have to provide proof of trading all signals for at least 4 of their 5 pairs) then you get all your money back. It will be time consuming, but if this system fails me, at least I will get my money back.

I still have faith though, the back testing I did when I first bought the system looked promising.

 

[pipper]

I would also like to point out that when I first bought the system there was a recently opened trade:

GBP/JPY
02-21 @ 5:50am EST
Buy @ 235.65

Then it closed out on the signal I posted earlier in this thread(the sell @ 237.63 (12:40 pm)) which made a profit of 198 pips in just over 31 hours.

Unfortunately I didn't run the system for the first until about 10 am yesterday and wanted to start with fresh signals.

Anyway, I hope that is a sign of things to come

 

[marty]

Hi Pipper,

Did you purchase the Swing Trader package?? According to their 2006 Performance stats both the Swing and Position systems never had a losing month -will follow yoyr results with interest

cheers

Marty

 

[pipper]

Hey Marty,

Well when I purchased, it came with both their swing and position signals. I also was able to purchase their pro version for the price of their lite. I believe the difference between the two is the ability to test and implement your own strategies. I haven't bothered with any of this yet.

I can't imagine why you would want to with their results though. Maybe if you wanted more/less signals then the ones they supplied, I'm not sure.

Right now I am trading strictly their swing signals. As of Friday 02-23 @ 11:52 my current positions are:

GBP/USD long +56 pips
GBP/JPY short -8 pips
USD/CHF long -63 pips

So down overall, but my overall drawdown is fine at this point. No new signals since my latest one yesterday.

 

[pipper]

Update:

02-26 @ 11:08 am EST

GBP/USD +42
GBP/JPY +110
USD/CHF -78

All signals still open, so things are going okay, but am hoping for more signals this week.

PS the position signals seem to be doing really well, but I have never held a position longer than a week so am not sure how I will adjust to them, and what the drawdowns maybe like. So far the largest drawdown I have seen is 190 pips, which I would have a really hard time with.

 

[pipper]

Just got a signal to reverse the GBP/JPY position, coming out with a profit of 103 pips. Now, if the swissy would just get it's act in gear.

 

[hornblower]

Just got a signal to reverse the GBP/JPY position, coming out with a profit of 103 pips. Now, if the swissy would just get it's act in gear.

so are you short ?
@ 236.74

 

[pipper]

No, I am long now, was short before. This is the GBP/JPY we are talking about, right?

 

[belneg]

Hi Pipper,

I too am new at this, in fact this is my preliminary fact finding. After going through all the BS of red light green light software and heeding all the warnings from good folks on the Internet, I was really close from buying expensive software. I hope you continue to post so I can follow your progress.

Cheers
Belneg

 

[pssonice]

"so are you short ?"

the author of a thread has a huge problem if if the reader of this thread is forced to ask this very special question

 

[pipper]

Pssonice, if you read the thread carefully, you will see I pointed out my positions. I admit I should have been more clear, and will be in the future. This is my post, from last friday.

"Right now I am trading strictly their swing signals. As of Friday 02-23 @ 11:52 my current positions are:

GBP/USD long +56 pips
GBP/JPY short -8 pips
USD/CHF long -63 pips"

Back to the trades.

Last night at about 7pm est my GBP/JPY signal closed and reversed and I lost 9 pips. Today, up about 380 pips on it.

My current positions:

GBP/USD long +78.7
USD/CHF long -205
GBP/JPY short +380


That damn USD/CHF is really starting to bug me though, the software still hasn't reversed the signal for it.

 

[jacinto]

Pssonice, if you read the thread carefully, you will see I pointed out my positions. I admit I should have been more clear, and will be in the future. This is my post, from last friday.

"Right now I am trading strictly their swing signals. As of Friday 02-23 @ 11:52 my current positions are:

GBP/USD long +56 pips
GBP/JPY short -8 pips
USD/CHF long -63 pips"

Back to the trades.

Last night at about 7pm est my GBP/JPY signal closed and reversed and I lost 9 pips. Today, up about 380 pips on it.

My current positions:

GBP/USD long +78.7
USD/CHF long -205
GBP/JPY short +380


That damn USD/CHF is really starting to bug me though, the software still hasn't reversed the signal for it.

seems like it doest identify price patterns

 

[DownRiverTrader]

I wish you well, but if I may I would like to encourage you to conquer the developmrnt of a trading methodology on your own. Trading is about recognizing value and acting on your understanding of this. It is about mastering the most difficult thing in the world---The Self.

Trust your own ability and you will not need to rely on other "systems" for your success. Good luck to you pipper.

Came across another system at www.progressivefx.com

I am probably going to try it, since I have some extra money to play with. Any info on them would be appreciated.

Thank you.

 

[pipper]

Thank you, and I know I should learn the forex for myself, but I have been at it for a while and still can't get the hang of it on my own.

jacinto, I noticed the same thing. I was thinking about trading their signals when they coincided with standard patterns and indicators. Could be an interesting method, as I am unsure how this system determines it's signals exactly.

I do know I am up over 400 pips on the GBP/JPY!!!!

 

[jacinto]

well, good for you. I dont want to put you off at all. but, dont you think the last couple of days have been rather circumstancial to really say anything about it. you know, it was melt down day today. i wouldnt draw any conclusions on a couple of days, particularly these days.

 

[pipper]

well, good for you. I dont want to put you off at all. but, dont you think the last couple of days have been rather circumstancial to really say anything about it. you know, it was melt down day today. i wouldnt draw any conclusions on a couple of days, particularly these days.

I know, I have a while to go before I will know, but at this point I don't think I will be taking advantage of their money back guarantee. Just closed a trade for a 600 pip profit, in less than a day. I know that is very unlikely and is nowhere close to typical, but it does feel very good.

 

[pipper]

Well, I closed out all my trades and I am deciding to call it a week. It is my birthday today so I don't want to be thinking about trading until Monday. Have a good weekend all.

 

[jacinto]

well happy birtthday then, all the best, and dont get too drunk

 

[Priceman]

Well, I closed out all my trades and I am deciding to call it a week. It is my birthday today so I don't want to be thinking about trading until Monday. Have a good weekend all.

Happy birthday mate, have a good one and remember the market will be there when you come back. Don't worry about missing out, there's plenty of pips for everyone! Stick at it.

 

[belneg]

Happy Birthday Pipper

Well, I closed out all my trades and I am deciding to call it a week. It is my birthday today so I don't want to be thinking about trading until Monday. Have a good weekend all.

Hi Pipper,

I know for a fact that you will be staying home tonight, with the snow storm dumping all that snow. It's a good night to stay home and celebrate. Have a good one.

Belneg.