Has anybody used this Manual Trading Strategy

[Vortice]

Sunny12, Rjay

Bringing this thread back on topic, I've been looking at the vendor's published results for this month and they don't make a lot of sense to me:
ProFx Performance 2009 - ForexEASystems - Forex Trading Systems

For example, he claims 100 pips, 34 pips & 100 pips on 18th, 21st & 22nd September, yet according to his own screenshots there are no confirmed signals on those days ! Also, on 17th September there were two trades according to the screenshot: one win and one loss (after hitting the stop) yet he only includes the win in his report.

You don't have to enter on the signal. The signal just indicates the direction of the trend. For example, the trend may change direction over night, but the rules state only to enter trades during the London/US session, so, after 0700 GMT, you can place a trade in the direction of the trend when all the other criteria are met, ie, all indicators point in the same direction.

There is one instance that i'm not convinced about, however. See my post above.

Regards,

John

 

[bearmarketbull]

Bearmarketbull,

Do you use the ProFX support and resistance when placing stop-loss and take-profit or just pivot levels?

John

Hi Vortice

Glad to see this thread is still going, i was using pivot levels for a long time not the ones that come with profx, but different ones i think i once put a link to in this thread. Anyway if it helps i had a lot of work to do which stopped me being in front of the computer most of the day, but as i now trade full time (thanks to PROFX) for a living i still had to trade so i decided to go for a 100pip target like the maker suggested and after a couple of weeks i realized by going after 70pips each trade i was making more pips then ever so now i set a 70pip target on all the pairs i use and no longer even put pivots on the chart.

Ps i have had 5 winners today so far 350pips
EURJPY+70 GBPUSD+70 EURUSD+70 GBPJPY+70 AUSJPY+70 (still in USDJPY & EURAUS)

Hope it helps all to know this system works if you take time to learn

BEARMARKETBULL

 

[bearmarketbull]

Bringing this thread back on topic, I've been looking at the vendor's published results for this month and they don't make a lot of sense to me:
ProFx Performance 2009 - ForexEASystems - Forex Trading Systems

For example, he claims 100 pips, 34 pips & 100 pips on 18th, 21st & 22nd September, yet according to his own screenshots there are no confirmed signals on those days ! Also, on 17th September there were two trades according to the screenshot: one win and one loss (after hitting the stop) yet he only includes the win in his report.

just read this comment and thought i should respond jjust incase there are any new fx traders reading that may miss the chance to give profx a try, my results for the 3 days were :-
18th sept +70 pips short
21st sept -37 pips short /+70pips long
22nd sept +70pips long

I go for 70pips not 100pips and on the 21st i traded twice first was short losing -37pips then when all was set for a long a got +70 so total of (+33) that day.
I don't believe they have to fix results with this system is does well on its own

BearMarketBull

 

[Vortice]

Hi Vortice

Glad to see this thread is still going, i was using pivot levels for a long time not the ones that come with profx, but different ones i think i once put a link to in this thread. Anyway if it helps i had a lot of work to do which stopped me being in front of the computer most of the day, but as i now trade full time (thanks to PROFX) for a living i still had to trade so i decided to go for a 100pip target like the maker suggested and after a couple of weeks i realized by going after 70pips each trade i was making more pips then ever so now i set a 70pip target on all the pairs i use and no longer even put pivots on the chart.

Ps i have had 5 winners today so far 350pips
EURJPY+70 GBPUSD+70 EURUSD+70 GBPJPY+70 AUSJPY+70 (still in USDJPY & EURAUS)

Hope it helps all to know this system works if you take time to learn

BEARMARKETBULL

Those are great results BMM. Which currency pairs do you not trade? Are you using a fixed stop loss?

My understanding is that if there is a trend reversal overnight, when the European session opens at 0700 GMT, if the indicators are all in agreement, then it is ok to enter a trade in the new direction. Is this your understanding and is this what you do?

Can I also ask what you use to establish that the 4 hour trend is in agreement with the 30 min trend?

Kind regards

Vortice.

PS. I'm determined to get to the stage where I can trade for a living and this seems to be the best bet yet, so any advice is gratefully received!! PM me if you have any advice and think it's more appropriate.

 

[bearmarketbull]

Those are great results BMM. Which currency pairs do you not trade? Are you using a fixed stop loss?

My understanding is that if there is a trend reversal overnight, when the European session opens at 0700 GMT, if the indicators are all in agreement, then it is ok to enter a trade in the new direction. Is this your understanding and is this what you do?

Can I also ask what you use to establish that the 4 hour trend is in agreement with the 30 min trend?

Kind regards

Vortice.

PS. I'm determined to get to the stage where I can trade for a living and this seems to be the best bet yet, so any advice is gratefully received!! PM me if you have any advice and think that's more appropriate.

Hi Vortice
(yes you are right about the overnight reversal)

I know the makers say (as do all the experts) that you should go with the bigger trend ie 4 hour trend but i found that i was missing some of the best trades by not taking the trades against the 4 hour trend and also that taking trades with the 4 hour also had losing trades.
So now i dont want to know what the 4hour is doing (hard not to know) but really i take the 30min on its own merit. I live in the uk so gmt is my time zone i take my first position at 8 am GMT thats with the london traders, if at 8am the 30min trend is established (i mean all indicators pointing in the direction) then i enter putting my stop afew pips above/below the most recent profx01 up/down trend stop indicator, If at 8am its not established i wait then if it establishes a new trend with the large arrow i put my stop above/below the most recent high/low candle as long as it is not more the 100pips then move it above/below the profx01 up/down trend stop indicator when they start to appear
By the way way PROFX)05 indicator is the most important indicator in my opinion
only enter long when green line is over 50 but below 0,5
and only go short if green line is below 50 but above 0,5
Hope this helps
BMB

 

[Vortice]

Hi Vortice
(yes you are right about the overnight reversal)

I know the makers say (as do all the experts) that you should go with the bigger trend ie 4 hour trend but i found that i was missing some of the best trades by not taking the trades against the 4 hour trend and also that taking trades with the 4 hour also had losing trades.
So now i dont want to know what the 4hour is doing (hard not to know) but really i take the 30min on its own merit. I live in the uk so gmt is my time zone i take my first position at 8 am GMT thats with the london traders, if at 8am the 30min trend is established (i mean all indicators pointing in the direction) then i enter putting my stop afew pips above/below the most recent profx01 up/down trend stop indicator, If at 8am its not established i wait then if it establishes a new trend with the large arrow i put my stop above/below the most recent high/low candle as long as it is not more the 100pips then move it above/below the profx01 up/down trend stop indicator when they start to appear
By the way way PROFX)05 indicator is the most important indicator in my opinion
only enter long when green line is over 50 but below 0,5
and only go short if green line is below 50 but above 0,5
Hope this helps
BMB

That's incredibly helpful BMB.

I'm also in the UK, (West Sussex) so it's a little easier on us than some!

I had been playing around with various MAs to act as a filter to prove the 4 hour trend etc, but as you say, you miss some nice moves.

The other thought I had was to use the darma pivot, so that you readily have an idea how far the market has moved from its open. That way you can set a realistic take profit depending on how far the market has been moving on a daily basis.

Although I'm a convert, as it seems are you(!), I think the ProFX website screenshots are faked - either that or they don't obey their own rules. I've been backtesting and comparing with their daily screenshots and they certainly don't trade with the 4 hour trend and some of their trades are placed overnight. But, the proof is in the eating, as they say, and this tastes pretty good!

Thanks for your thoughts.

Kind regards,

Vortice

 

[bearmarketbull]

Hi Vortice

Glad to be of help
As for ProFX website results am not sure how strict they are to stay with rules but i have been up late and taken new trends around 12am/1am that have worked well, I think they say london/new york session because of greater volume and to go with 4 hour trend because its safer.If they said
take all signal anytime am sure it would work and they would sell more copy's to the asia timeframes.
Just my thoughts
BMB

 

[Vortice]

Hi Vortice

Glad to be of help
As for ProFX website results am not sure how strict they are to stay with rules but i have been up late and taken new trends around 12am/1am that have worked well, I think they say london/new york session because of greater volume and to go with 4 hour trend because its safer.If they said
take all signal anytime am sure it would work and they would sell more copy's to the asia timeframes.
Just my thoughts
BMB

That could be it.

On yesterday's trading (Friday), did you enter your trades first thing, on continuation of the previous day's trend, or on the new signal that all these pairs had during the day?

Do you still advocate entering the on the candle after the signal?

Kind regards,

Vortice.

 

[bearmarketbull]

Hi Vortice

Fridays trading was a great day (i wish every day was as good) all trades hit 70pip target except EURAUS & USDJPY but they still did not lose pips. Every trade was a fresh ARROW USDJPY, AUSJPY, GBPJPY & EURJPY were morning time EURAUS , EURUSD & GBPUSD were afternoon (as you know i am uk time). If you loads them charts am sure they will look simple after the event.
The way i enter anwsers both your questions about previous day's continuation or new signal and it all boils down to indicator profx05 that tells me if previous day trend is oversold/overbought and if i should enter new signal on first candle or second candle.
PM me if you like
BMB

 

[Black Swan]

anyone moved up to/onto the EA Shark?

if so could you let us know the results/performance? TIA

 

[salvadorveiga]

Bringing this thread back on topic, I've been looking at the vendor's published results for this month and they don't make a lot of sense to me:
ProFx Performance 2009 - ForexEASystems - Forex Trading Systems

For example, he claims 100 pips, 34 pips & 100 pips on 18th, 21st & 22nd September, yet according to his own screenshots there are no confirmed signals on those days ! Also, on 17th September there were two trades according to the screenshot: one win and one loss (after hitting the stop) yet he only includes the win in his report.

they only take 1 trade per day...whatever the 1st signal appears... if it's a winner you're done for the day, if it's a loss you're done for the day come back tomorrow

 

[Christiaan]

This is unrelated to this specific product,But I will say this i bought two trading systems (from the same guy how stupid off me)with no manual or instructions at all.I mean come on how can you not take a couple of hours and write a manual for your system!?it's riduculous.Since then i have found use for some of the indicators but I hope that merchants is not gonna start making a habbit of it.


There is the indicators figure it our yourself.That's not a trading system that is indicators.In some indicators are unique you can't even recearch the bloody things.I quess that you can eventually figure it out but that is seriosly bad customer service.It's like buying a second hand car but the thing is covered in dirt because they are too lazy to clean it.

it's riduculous just like my spelling.Don't you agree?

 

[simbob]

This is unrelated to this specific product,But I will say this i bought two trading systems (from the same guy how stupid off me)with no manual or instructions at all.I mean come on how can you not take a couple of hours and write a manual for your system!?it's riduculous.Since then i have found use for some of the indicators but I hope that merchants is not gonna start making a habbit of it.


There is the indicators figure it our yourself.That's not a trading system that is indicators.In some indicators are unique you can't even recearch the bloody things.I quess that you can eventually figure it out but that is seriosly bad customer service.It's like buying a second hand car but the thing is covered in dirt because they are too lazy to clean it.

it's riduculous just like my spelling.Don't you agree?

You are right Christiaan, your post is ridiculous. As i own there manual system and also the trading robots i can tell you that you are even not a customer from them.

When you would be a customer you would not write such post.

ProFx comes with detailed user manual and a lot of trading examples. Also every single custom indicator is described.

With what you are right is that the indicators are unique. When you wish to pay money for standard indicators buy forex rebel or some other clickbank forex tools.

Another fact what shows clear that you are no user from them and only take dirt arround is that you write that you bought 2 systems from them. Truth is that they only offer one system and 2 automatic robots.

This is a forum where traders share trading ideas and experiences with technical indicators, systems, automatic robots and try to help each other.

Frankly speaking: Users like you are a shame for this great community.

 

[Gabrial]

@ simbob

I was now reading the whole thread. At least almost

It looks like you are doing well with this strategy.

How is it performing in actual market conditions?

Link to homepage would be also great.

Thanks guys.

 

[simbob]

@ simbob

I was now reading the whole thread. At least almost

It looks like you are doing well with this strategy.

How is it performing in actual market conditions?

Link to homepage would be also great.

Thanks guys.

it is a great forex trading system. So it is not very difficult to do well with.:cheesy:

Last month i closed with 960 Pips.

Here some screenshots where you can see signals from last days.





Weblink: ProFx Forex Trading System

 

[Gabrial]

@ simbob

Thanks for your reply.

That look pretty good

 

[Gabrial]

What i forget.

It is only for Metatrader, correct ?

 

[simbob]

Hello Gabrial,

as far i know it is only for Metatrader. Actual it run on version 4 but they told me that there will be a free build update as soon Metatrader 5 will be launched.

But maybe it can be also on other platforms like VT Trader or TS. Best you contact forexeasystems and ask them.

 

[baleno]

Just bought it, they said they will send me the link for download within 12-24 hours.

 

[baleno]

got it, Manual is well explained, gona start testing it