Forex Profit Monster - 4H TF

[salvadorveiga]

that would work pretty much perfect salvador. how do i get an 8hr timeframe though. my metatrader only has 4hr and daily. i read somewhere of a way to do it offline i will try to find that. if you could direct me in the right direction that would be great.

thanks

go a few pages back on this thread I explained to Ingot how to put up any timeframe you'd like (I advise a timeframe that is a divisor of 24 or else the close of the candles won't be at fixed hours.... so i advise either 6H, 8H or 12H charts...)

starting from page 9... http://www.trade2win.com/boards/commercial-systems/65072-forex-profit-monster-4h-tf-10.html

 

[mikebondi]

salvador

thanks again you solved my problem im thinking 8hr charts aswell how many signals have you been getting running 8hr charts.

now i just need to get a new coded version for my new account off to do that.

thanks

 

[salvadorveiga]

salvador

thanks again you solved my problem im thinking 8hr charts aswell how many signals have you been getting running 8hr charts.

now i just need to get a new coded version for my new account off to do that.

thanks

well i've started FPM this past week... so can really tell... but i trade a similar trend following strategy and i get from 10 to 30 signals a month, depending on how trendy the month is...

 

[salvadorveiga]

wooww nice surge !! up 7% today with FPM. of course this is with open equity... it can reverse...these 7% are not locked profits

i just hope this is finally the breakouts the pairs have been in for the past 3-4 weeks... let's see some nice trends going

 

[mikebondi]

it amazes me. we have so many sellers of so much stuff that you cant get a response from before a sale or even right after a sale. let alone months and months later. these folks market like crazy and then disappear.

i bought forex profit monster like 4 months ago or so. i emailed jim at the support email on the site today looking to get a recoded setup so i can trade it since my old demo stoped working. i had a feeling from previous dealing with him it wouldnt be an issue. and man was i right he responded within an hour and told me it would be coded and to me within 48 hrs. now is this the service we all wish we could get when we buy a product. and i paid hardly anything for the system if i remember right. all of my question i asked him previously were answered just like this email very quickly.

i found out about the product by chance there is no advertising. i find his results to be completely accurate and true. man i wish we could get a few more products out there like this one.

mike

 

[coolpixel1]

Yes, good day and a classic for FPM. I made the mistake of doubting the EUR/JPY signal due to my assertion that the yen pairs are forever ranging but it proved me wrong as the sell signal was good and as has been mentioned a few times - take the signals as they come. It's difficult to weed out the 'bad' ones, especially in a typically ranging market so the moral I guess is...
Don't try!

 

[forexsniper]

How's everyone been going lately on the h4 timeframe?

My most recent trades just closed:

EURUSD: loss
GBPUSD: gain
GBPJPY: loss

So far the month of Nov has been a loss month for me, but I only monitor 4 pairs:

EURUSD
GBPUSD
GBPJPY
USDJPY

Is this what others are experiencing or am I doing something wrong?

 

[coolpixel1]

I gained on the EUR/USD and GBP/USD but also GBP/JPY. Weird month so far...
I'll be interested to see what Jim posts on his blog, I do, however, monitor 8 pairs

 

[salvadorveiga]

How's everyone been going lately on the h4 timeframe?

My most recent trades just closed:

EURUSD: loss
GBPUSD: gain
GBPJPY: loss

So far the month of Nov has been a loss month for me, but I only monitor 4 pairs:

EURUSD
GBPUSD
GBPJPY
USDJPY

Is this what others are experiencing or am I doing something wrong?

November has been a horrible month so far... I really had to start testing this right at a drawdown point ...

I havent done any math so far but I could probably say I am under more than 1000 pips, or in other words, down almost 9%

 

[coolpixel1]

It has been a crap month overall - that's for sure. Ranging pairs have not helped matters. It wouldn't surprise me if there was an official loss posted - a bit of time left till the end of the month though and to be fair to the author - he may have had profitable trades counted from October (closed in November, allowing it to be counted as profit). Certainly not a corker though and it's uphill for the time being

 

[mikebondi]

just an update i got my coded set up for my new account today right on schedule. im gonna try to set up the 8hr charts usins salvadors directions and with all luck ill be up and running next week on 8hr charts.

on the tuff month i can be for sure if he looses he will post a lose and if he wins he will post a win. a few months back it strugled and i waited the results fully expecting some fluff and a positive month. and to my surprise he posted completely true numbers with a lose fo rthe month. completely won my respect.

mike

 

[forexsniper]

I gained on the EUR/USD and GBP/USD but also GBP/JPY. Weird month so far...
I'll be interested to see what Jim posts on his blog, I do, however, monitor 8 pairs

You must be using support/resistance levels for profit taking, or some other strategy?

I'm using the exit arrows and it has been mostly losses this month...especially for GBPJPY (see attachment). I'm trading H4.

 

[forexsniper]

November has been a horrible month so far... I really had to start testing this right at a drawdown point ...

I havent done any math so far but I could probably say I am under more than 1000 pips, or in other words, down almost 9%

Yeah - and I started trading this system in November

Got to stick to it though...we can't win all the time, and track record shows that this system does well most months.

 

[forexsniper]

just an update i got my coded set up for my new account today right on schedule. im gonna try to set up the 8hr charts usins salvadors directions and with all luck ill be up and running next week on 8hr charts.

on the tuff month i can be for sure if he looses he will post a lose and if he wins he will post a win. a few months back it strugled and i waited the results fully expecting some fluff and a positive month. and to my surprise he posted completely true numbers with a lose fo rthe month. completely won my respect.

mike

agree. very honest guy.

 

[salvadorveiga]

Yeah - and I started trading this system in November

Got to stick to it though...we can't win all the time, and track record shows that this system does well most months.

lol that's pretty much the rule... murphy's law.

Whenever you start trading a system it's right when it falls into a drawdown eheheh

 

[Ambrose Ackroyd]

this system does well most months.

DID well.

Past performance is no indication of future performance.

But I like this system and trust Jim implicitly, so I would expect it to rebound in future months.

 

[salvadorveiga]

DID well.

Past performance is no indication of future performance.

But I like this system and trust Jim implicitly, so I would expect it to rebound in future months.

you're right... but since it's a trend following system, i would more easily put my hands on risk for this one, than any other for example. Trends happen sooner or later

 

[Ambrose Ackroyd]

Agreed

 

[coolpixel1]

Yes, I use S&R for exiting. Over the last month or so I've been discussing exit strategies with my colleague and he had been studiously exiting with arrows - and losing. I suspect that the author also uses a combination of market knowledge couple with S&R. The problem with this approach is that occasionally you lose out too - with big movers like GBP/USD pips are lost but in the big picture a profit is profit. The other thing we looked at was referring to the H1 chart when a set up looks to be a good one - however, we do not usually enter this way (using H1) but wait for the confirmation on H4. But... exiting it could well be viable to check the H! as it, say, approaches a support or resistance level to see what's going on. If 2-3 candles have indicated an obvious counter-trend that has a couple of times strengthened an exit somewhere near a line. A bit touch & go but maybe in the long term this would work. The only other things I check is volatility, though not as much as I check the Trader Dynamic Index if in doubt, or a candle (e.g. pinocchio) shows obvious rejection in an ongoing direction. There's probably a hundred different things I could check but one thing I've noticed is that the longer I look at a chart the longer it starts to look the way I want it!
And not always with a positive result :cheesy:

 

[salvadorveiga]

welll today so far it seems promising...

let's hope the trades triggered may start trending...