fx 53 trend following system

[stevespray]

alan5616,

I'd be really interested to hear a bit more about your trading methods using the system. I bought the system some while back so I understand how it works etc. You say that you trade full time so I'm guessing that you monitor GBPJPY pretty much all day and this is why the shorter time frames suit you better?

I'm really interested to know what set ups you particularly look out for? I'm assuming that you would generally use the current 1H signal as the basis for overall trend?

I'm pleased to say that this is one of the more interesting threads on T2W at the moment.

Steve.

 

[alan5616]

alan5616,

I'd be really interested to hear a bit more about your trading methods using the system. I bought the system some while back so I understand how it works etc. You say that you trade full time so I'm guessing that you monitor GBPJPY pretty much all day and this is why the shorter time frames suit you better?

I'm really interested to know what set ups you particularly look out for? I'm assuming that you would generally use the current 1H signal as the basis for overall trend?

I'm pleased to say that this is one of the more interesting threads on T2W at the moment.

Steve.

Hi Steve,

I am watching the screen most of the day. Hence, my preference for the 5 min tf.

However, as you may have experienced, this can be mind numbingly dull at times. There's nothing worse than watching a market moving sideways for the best part of 8 hours. The ideal trading day for me is to get a nice move between 7am - 9am, pick 100+ pts. and then do what I want for the rest of the day. It sounds good but, doesn't happen every day.

I often use the 1 hour chart as a basic trend guide but, always transpose possible trend change areas on that chart (arrow bases) to the 5 min. The downside of relying too much on the 1 hr is that there will, often, be good set ups on the 5 min that don't manifest themselves until much later on the 1 hr.

When trading purely off the 5 min, I am looking for 4Raps, closes above/below the feeder of highest/lowest arrow of the day, closes above highest/lowest arrow of the day and CA2s. If I sound as though I've got it totally worked out; I haven't.

The 5 min chart has been very choppy this week and, as a result, I'm showing a slight net loss for the week. This is only my second losing week in 5 months so, not too bad. Whereas, someone trading the 1 hr chart, exclusively, this week, would have made about 700 pts. "Swings and roundabouts" as they say.

 

[james29]

From the fx53 website it seems that Kevin is now doing some sort of text alert service. Has anyone used this? What is it for - do you get a text when a new arrow prints?

 

[stevespray]

From the fx53 website it seems that Kevin is now doing some sort of text alert service. Has anyone used this? What is it for - do you get a text when a new arrow prints?

I dont think that he has officially lunched the service yet.

 

[alan5616]

From the fx53 website it seems that Kevin is now doing some sort of text alert service. Has anyone used this? What is it for - do you get a text when a new arrow prints?

This service is not yet available, although it should be on stream in the not too distant future.

 

[master_forex99]

hello

 

[master_forex99]

hello hello

 

[mlhandel]

This service is not yet available, although it should be on stream in the not too distant future.

hi allan,

I got the FX53 late nov. and are about to start trading.

I can see you are trading the 5min. GBP/YEN

were to you set you stoploss, how many P. from the base.

are you going in on the close of the candel CA2 or do you wait for it to come back down/up?

best regards

Martin
Denmark

 

[alan5616]

hi allan,

I got the FX53 late nov. and are about to start trading.

I can see you are trading the 5min. GBP/YEN

were to you set you stoploss, how many P. from the base.

are you going in on the close of the candel CA2 or do you wait for it to come back down/up?

best regards

Martin


Denmark

Hi Martin,

I tend to set my stop loss from 10-30 pts from the base. It will depend how long the bar is that the the arrow printed on.

For the CA2, I tend to enter the market immediately. On the 5 min tf, the market can go away from you very quickly. I've traded pullbacks with FX53 but, it's very frustrating when the pullback doesn't happen and you watch the market move 100+ pts. without you. This happened to me on a couple of occasions so, never again.

 

[patw]

Hi alan, is the system no long available?? if not why is this??

regards pat

 

[alan5616]

Hi alan, is the system no long available?? if not why is this??

regards pat

Hi Pat,

The system designer and owner, Kevin Adams, felt that he had enough clients. I believe 50 or so copies were issued for sale to the general public and that was that.

I believe that Kevin is planning to commence an instant trading signal text alert service, which will be available for clients and those who weren't fortunate enough to obtain a copy of the system. I assume that it will be a subscription service of some sort. I have to admit that I do miss a few trades and would find this a great help.

 

[mlhandel]

hi Allan,

on the 5min. GBP/JPY when you are in a trade down/up and is moving fast 200 - 300pts. and no arrow is printet
so you can not move the stop loss / lock in profit.

Do you move the stop loss anyway ?

to a freetrade or to take profit ?

Martin

 

[alan5616]

hi Allan,

on the 5min. GBP/JPY when you are in a trade down/up and is moving fast 200 - 300pts. and no arrow is printet
so you can not move the stop loss / lock in profit.

Do you move the stop loss anyway ?

to a freetrade or to take profit ?

Martin

Hi Martin,

I generally, leave the original stop loss until I'm at least 100 pts. in profit. This is the tricky part. In the past 2-3 weeks we've had a lot of price moves that went 100 or so pts. and then reversed. Obviously, this week has seen a big change in that!!

I know that this is not strictly in accordance with the system but, if I see the price move lose it's momentum, I will move my stop to lock in a guaranteed profit of 100pts., whether an arrow has printed or not. I never move my stop to break even.

There's hardly a worse feeling, as a trader, to see a very profitable trade turn around and stop you out. A few weeks ago, I was 260 pts. up and watched it evaporate and get stopped out. Fortunately, I had moved my stop to the base of an arrow. I only lost 30 pts or so but, it really pi**ed me off

The tough part of trading this market is the speed at which it will move at times. Even with a 60-80 pt. s/loss, this can be triggered in 2 mins or less.

 

[djenky]

CMS Data feed

Hi All.

Is anybody else having problems with the CMS GBP/JPY data feed?

My data stopped for GBP/JPY at 26-01-2009 09:44:00 (VT Trader Time) along with a few other feeds including GBP/USD and have not restarted as of 08:30 GMT

However USD/JPY also stopped at 26-01-2009 09:44:00 but has since restarted at 27-01-2009 02:17:00 although it’s missing all data between this period.

Communication with the demo CMS server is OK, I’ve tried it running VTTrader on two other PC’s and even downloaded the new VTTrader v201 but the problem remains.

I’ve reported the problem to CMS but don’t expect a swift response with a demo account.

This sounds like data feed a problem at CMS, and if so, should be effecting everybody.

Could someone confirm their own status please.

Cheers.

 

[djenky]

Hi All.

Just had a response from CMS Tech Support and they have confirmed that they are having problems with their server, and that it should be back up Tuesday morning (US time).

 

[alan5616]

Hi All.

Just had a response from CMS Tech Support and they have confirmed that they are having problems with their server, and that it should be back up Tuesday morning (US time).

Hi djenky,

I had a similar problem, yesterday, although somewhat later than you. The price on all charts was frozen for at least 20 mins. I closed VT down, restarted and it was fine after that.

One of the difficulties, with the demo platform and related servers, is that whenever their IT people want to add some enhancements to the VT live program, they use the demo environment for testing purposes. If one or more of the demo servers crashes, because of their tweaking, it doesn't matter to them as this is not affecting their real account clients.

A couple of weeks ago, I had no data for the whole of one Friday. As you may know, the standard reply when going to their online technical help facility is "our engineers are working on it". Fortunately, it was fixed over the weekend and the missing data was inserted.

It's difficult to get too annoyed with them as we're getting a fairly good charting package and real time data for nothing. It may not be exactly tick by tick but, it's good enough.

 

[djenky]

Hi djenky,

I had a similar problem, yesterday, although somewhat later than you. The price on all charts was frozen for at least 20 mins. I closed VT down, restarted and it was fine after that.

One of the difficulties, with the demo platform and related servers, is that whenever their IT people want to add some enhancements to the VT live program, they use the demo environment for testing purposes. If one or more of the demo servers crashes, because of their tweaking, it doesn't matter to them as this is not affecting their real account clients.

A couple of weeks ago, I had no data for the whole of one Friday. As you may know, the standard reply when going to their online technical help facility is "our engineers are working on it". Fortunately, it was fixed over the weekend and the missing data was inserted.

It's difficult to get too annoyed with them as we're getting a fairly good charting package and real time data for nothing. It may not be exactly tick by tick but, it's good enough.

Hi Alan.

Yes, considering that it’s free it is a very good package and we should n’t complain. However that’s not what I was thinking yesterday when I placed a trade using the FX53 strategy just before the data stopped! Worse still, the MetaTrader feed stalled as well.

My embarrassment prevents me from saying how long I sat there staring at the price thinking that the market was moving very, very slowly. Suffice to say that the trade did very well and I ended the day with a smile on my face.

Regards
DJ

 

[patw]

alan

I was wondering do you only trade gbp/jpy?

How long have you been using the fx53 system?

What is your account size and risk % per trade?

And do you trade the 1HR or 5min time frames,or both?

Sorry for all the questions
regards pat

 

[alan5616]

Hi Alan.

Yes, considering that it’s free it is a very good package and we should n’t complain. However that’s not what I was thinking yesterday when I placed a trade using the FX53 strategy just before the data stopped! Worse still, the MetaTrader feed stalled as well.

My embarrassment prevents me from saying how long I sat there staring at the price thinking that the market was moving very, very slowly. Suffice to say that the trade did very well and I ended the day with a smile on my face.

Regards
DJ

I'm pleased hear that it it turned out to be a case of "alls well that ends well"

 

[alan5616]

alan

I was wondering do you only trade gbp/jpy?

How long have you been using the fx53 system?

What is your account size and risk % per trade?

And do you trade the 1HR or 5min time frames,or both?

Sorry for all the questions
regards pat

Hi Pat,

I only trade GBP/JPY and have been using FX53 for 6 months. My account size is over 3k but less than 10k. I risk 2-5% per trade. This will depend on how long the c/stick is, when triggered, and the closing price in relation to the arrow base.

I only use the 1 hour chart for marking levels on my 5min and 1 min charts. I take my trades from the 5 min chart, with half an eye on the 1min. Fwiw, the market was awful, for me,today; I was in one trade that went, mostly, sideways for 4+ hours. Made a total of 3 trades (2 losses - 1 win) My first losing day for 2 weeks. Net result was a loss of 3.25% of capital. That'll teach me to trade on FOMC day