fx 53 trend following system

[masif1]

ANOTHER System!

Blimey, another system, Sniper Forex,

just as I had done research on FX53 another system comes along.

so far FX53 way out performs Concept and that is just with one currency pair.

so far this year Concept have made 5215 pips in total averaging 745 pips per month.

FX53 have made 8601 pips in total this year averaging 1076 pips per month.

would be interesting to see how Sniper Forex do, Sandy?

Daily chart staying short on GBPUSD and EURUSD. Daily chart is staying short on CHFUSD (I closed my Concept trade yesterday while in profit, when Sniper 1 hour chart stoploss was hit).

 

[SandyW]

Blimey, another system, Sniper Forex,

just as I had done research on FX53 another system comes along.

so far FX53 way out performs Concept and that is just with one currency pair.

so far this year Concept have made 5215 pips in total averaging 745 pips per month.

FX53 have made 8601 pips in total this year averaging 1076 pips per month.

would be interesting to see how Sniper Forex do, Sandy?

Be careful of comparing profitability so directly. It is not as simple as it appears. And one thing you don't see in the FX53 results is the drawdown DURING trades. You only see the draw down as it appears when a trade has closed.

I am coming to the conclusion that not only is FX53 expensive, but that it will be counter intuitive to use. I would be constantly losing my nerve.

Sniper is much more straightforward, and a LOT cheaper.

 

[SandyW]

Change of Mind

People,

I have radically changed my view of FX53 relative to Sniper. The thing about Sniper is that you are chasing the market, whereas with FX53 you make the market come to you. So with FX53 you can do all your trading on limit/stop orders, which is much less stressful, as well as being a healthier way to trade. It does seem counter-intuitive at first, but you can quickly get used to it.

The downside is the price. Sniper at say £150 v FX53 at say £700. That said it does look as if FX53 could pay for itself quite quickly, say within one month. I would be less confident of Sniper in that respect.

 

[masif1]

Hi Sandy,

I have been watching FX53 these past few weeks and their current short on GBPJPY is up by 1300pips so far in just over two weeks!

One of the reasons why FX53 is attractive to me is because it is best used as an EOD system similar to Concept. Wherer as Sniper is clearly an intra-day system.

I don't know if you have brought FX53? but if you have I'd be interested to see how the alerts from FX53 compare with the same pair alerts from Concept?

Concept needs human intervention as just technical does not work. If u look at gbp/usd and euro/usd on technicals they are a screaming buy!

People,

I have radically changed my view of FX53 relative to Sniper. The thing about Sniper is that you are chasing the market, whereas with FX53 you make the market come to you. So with FX53 you can do all your trading on limit/stop orders, which is much less stressful, as well as being a healthier way to trade. It does seem counter-intuitive at first, but you can quickly get used to it.

The downside is the price. Sniper at say £150 v FX53 at say £700. That said it does look as if FX53 could pay for itself quite quickly, say within one month. I would be less confident of Sniper in that respect.

 

[SandyW]

Asif,

There are different approaches to trading and you cannot really make direct comparisions trade by trade. FX53 is a trend following system, whereas Concept normally trades off support and resistance. Concept's approach has clearly not suited the current market. That said, looking at historoical results it has sometimes followed a trend very satisfactorily. Not really knowing the algorithm is it is difficult to say more.

No I have not bought FX53, but I am experimenting with my own poor man's version, which so far is quite persuasive. Too early to prove anything. One thing I do know, is that systems can look easy at first glance, but when you actually trade them all sorts of issues pop up and catch you out.

If I could make only half the profits we see on the FX53 website, I would be very very pleased with myself!

 

[masif1]

Mr fx53 is on holiday as of today for 10 days and therefore he's closed his GBPJPY trade at 1270 pips!

if he had closed this morning he would have made 1875 pips!

and GBPJPY still going down.

 

[SIMONS1874]

Hi Masif
I started this thread and bought FX53

I think it is an effective trend following system and am still short in the GBPJPY and USD having made a lot of profits over the last 10 days

I also own Concept FX which I have used less successfully and would probably take less reliance on in the future as some of their trades have been very shortsighted

 

[wil68]

Hi Masif
I started this thread and bought FX53

I think it is an effective trend following system and am still short in the GBPJPY and USD having made a lot of profits over the last 10 days

I also own Concept FX which I have used less successfully and would probably take less reliance on in the future as some of their trades have been very shortsighted

I read about this system whilst on the sniper thread, and have spent a bit of time looking at the demos and in contacting Kevin. How do you think this is working for you? Have you looked at/ did you look at, sniper before you bought into this system. Are you a complete novice to FOREX, or did you already have a bit of experience? What I like is the fact that it can be done EOD, the constant watching of the charts and the money going up and down doesn't do much for trying to keep the emotions out of the trading. Any feedback would be appreciated.

 

[SIMONS1874]

I read about this system whilst on the sniper thread, and have spent a bit of time looking at the demos and in contacting Kevin. How do you think this is working for you? Have you looked at/ did you look at, sniper before you bought into this system. Are you a complete novice to FOREX, or did you already have a bit of experience? What I like is the fact that it can be done EOD, the constant watching of the charts and the money going up and down doesn't do much for trying to keep the emotions out of the trading. Any feedback would be appreciated.

Its working very well but all trend following systems are at the moment. I looked at Sniper and thought of purchasing it but in many ways it is just another trend following system and there is no need for more than one.
You can use FX53 on any time frame, I use it early in the morning on a 5 minute chart and hourly through the day. Kevin gives really excellent support.
It can be very stressful trading in very short time frames and whilst I usually make money in an hourly frame I am less successful in a 5 minute one. I dont think I would have stayed in the present shorts as long without FX53 but then I am likely to lose a bit when the trend ends but thats all part of trading isnt it

 

[masif1]

Simons1874,

could you also please advise if your using the daily time frame (EOD) and which pair are you concentrating on?

As I understand from Kevin that he uses the system on the GBPJPY currency pair and daily time frame.

and so far with the current market conditions this system is working fantastically!

also how do you receive the alerts?

I prefer an EOD system then an Intraday due to work commitments and this one so far looks very promising.

Thanks

 

[wil68]

I think the really important part is controlling the emotion. If you have any decent gain, there is no point in worrying about what could have been. When you lose, as long as you have confidence that the system will help recover that loss, you will be able to sleep at night.

How many pairs are you trading? Does Kevin offer any advice about styles of trading or does he only provide the indicators? Kevin says he has been using this system for years, surely he must have gone through periods where there were no long trends? I must ask how the system would perform during these periods. Are you in many trades at the moment?

 

[masif1]

I believe Kevin is back from holiday, but he hasn't traded this week.

could it be due to the volatility of the markets this week?

 

[Stuart14]

Have you guys traded with this system this week? How did it fare?

 

[wil68]

I haven't actually got it. If there has been a trial version, like Sniper, I'd definately given it a go. But with a £700 price tag, and no way of knowing if the guy selling is genuinely trading the system, it's too much of a gamble.

 

[alan5616]

I bought FX53 several weeks ago. If you stick to the system rules and don't try and second guess the relevant market, you will make money.

Overall, it's an excellent piece of software. It has nuances which take time to fully understand but, it is not alone in this. The customer support is first class and further trading videos are in the pipeline for members.

I have never come across a software seller who would put ten consecutive losing trades up on his website, even though he didn't take them, because he was on holiday!!! However, the system would have given entry signals to make those trades. That speaks volumes for his integrity.

I've used many pieces of trading software over the past 8-9 years, many of which cost far more than this and were as useful as an ashtray on a motorbike. For me, as a full time trader, I think it's excellent value for money, especially considering the support as well. Compared to Concept FX; it's a steal at the price!!!!!

 

[alan5616]

I haven't actually got it. If there has been a trial version, like Sniper, I'd definately given it a go. But with a £700 price tag, and no way of knowing if the guy selling is genuinely trading the system, it's too much of a gamble.

I can assure you 100% that Kevin does trade full time, using this software. If you follow the rules of the system, you'll recover your £700 outlay. If you're not prepared to take a gamble, why are you interested in trading? All sensible traders accept that they will lose money on many trades. The beauty of Kevin's software is that it minimises losses and maximises profits.

 

[SIMONS1874]

I can assure you 100% that Kevin does trade full time, using this software. If you follow the rules of the system, you'll recover your £700 outlay. If you're not prepared to take a gamble, why are you interested in trading? All sensible traders accept that they will lose money on many trades. The beauty of Kevin's software is that it minimises losses and maximises profits.

Hi Alan

I started this thread and bought FX53 a couple of months ago

Are you trading the JPY/GBP 1 HR AND 5 MINS and USD/JPY 5 mins as Kevin does

I have found it has taken me some time to get the psychological side of trading FX53 and I have therefore not had as many profitable trades as I should have had and have found it difficult this week

I think I am better over longer time frames as I find it very difficult on a 5 min platform
Kevins support is superb and I am confident I will get there eventually

Regards

Simon

 

[alan5616]

Hi Simon,

Unfortunately, there have been a lot of choppy conditions in most of the currency markets.

The past couple of weeks have been difficult with no clear direction as to where FX53 two main trading pairs ($/Y or £/$) are going. I know that Kevin does well with intra day trading, off the 5 min charts, when market conditions are very choppy on the 1 hour chart.

I concentrate on the 1 hour tf but, fortunately, stayed out of the market, for most of the time, during the last couple of weeks. I incurred a small loss on a long GBP/JPY, yesterday.

Until this US bail-out package is resolved, there will be no direction in most of the markets.

 

[delerben]

I have to look further into this.

 

[bigphil22]

The latest trade

Did anyone take the latest trade

044 GBP/JPY 15-08-08 SELL 206.17 193.47 04-09-08 1270

posted to the results page here: FX53.com

With the same result?

Phil