Has anybody used this Manual Trading Strategy

[forexdragon]

WRM
Here is the error my MT4 is saying:

2009.05.14 07:51:35 Cannot open file 'C:\Program Files\Velocity Trader 4\experts\indicators\ProFx07.ex4' on the GBPUSD,M30

It says it cannot open file, not sure why? I have it set up on 2 other MT4 platforms and it i was able to attach it to the charts fine no problems.

i do not have this system yet but i want to buy it. can you post some up-to-date charts to see how it looks?

forexdragon and pip_chaser, i am MQL programmer so maybe i can help you even if i do not have this system yet. Please take a look at the "Experts" section at the bottom of your Metatrader platform if there are any errors. Please post them here, maybe i can help you.

 

[wrm]

forexdragon,

did you tried to restart Velocity Trader 4 platform? Did the error shows up everytime? I get these errors when i compile EA's or indicators and at that moment they are not available, but 1-2 secs later they all work. This is something else. Maybe the file is really missing? Did you check that?

 

[wrm]

bearmarketbull,

i looked at your posted charts once again. Can you tell me what EXIT rules you use?

 

[forexdragon]

WRM,

I did check to see if the file was there and for some reason only part of it was, So i copied the rest into the Indicators folder and voila it works. Thanks for your solution to this..

Cheers

 

[forexdragon]

Bearmarket bull,
When enteringa trade with the Profx indicators, do you wait till all are green or grey . I know you said you wait for the second tick on the M30 chart . Just wondering if you wait till all indicators are in the direction of the trade?

 

[bearmarketbull]

Hi all
couple of answers to questions here, i wait for indicators to be the right colour which is the second or third candle then i enter, i take profit on the next pivot support or resistence level if over 20pips away if closer i go to the next one, on the gdpjpy chart i lost 70pips if i would of used a 100pip stop it would of been a winning trade but i use 70pip so rules or rules. Money management for me i trade 0.1 lot per $1000 no more than than four pairs at a time and i have survived 12months this way.

Hope this helps

 

[brt]

hi

i simply enter on the candle after the arrow candle on 30 min charts as long as the indicators agree some times the second candle after the arrow candle, i use the recommend stop of between 70 - 100pips (i use 70 most times) but i have an indicator that displays pivot levels and take profits at the next level. today gmt i took gbpusd 8am gmt 31pips, gbpjpy 9am gmt -70pips, eurusd 11am gmt 56pips, eurjpy 11am gmt 77pips and audusd 11am gmt 43 pips 4 winners 1 loser total 137pips am not greedy my day is over over 350 pips for 3days this week

hope this helps

hope u are able to put charts on to see why i entered and took profits even though there was plenty more on table

Hello BMB..

Thank you very much for the guidance you are giving on this system. One question for you- I there any way to obtain the pivot point indicator you reference in the above post?

Thanks in advance!

 

[bearmarketbull]

brt

go look here

is there such pivot point indicator? - Forex Factory

 

[brt]

Perfect... thanks very much. Do you take every signal that meets the criteria or do you filter any out for ranging or for not being in the direction of the trend? Also, so the max candles you allow past the signal to wait for the other 2 indicators is 3?

Thanks so much...

Brendan

 

[bearmarketbull]

Hi

i do take every candle unless i have made enough pips already that day and the indicators normally line up by the 3rd candle unless there is no volume so i look to always enter on candle 2 or 3

hope this helps

 

[bearmarketbull]

brt

the important thing is to enter after the signal candle because when you enter on the signal candle it can disappear which causes alot of losing trades so waiting for everything to line up on candles after the 3rd may still work ,its just in my trading i always look for second or third

hope this helps

 

[brt]

Yes, helps very much, thankyou.

 

[forexdragon]

One thing i would like to point out when excecuting trades is not only look at the indicator to be green or grey. But also make sure that the bars closing price on the next bar is up or down in the direction of the trade. Looking back through the last week, there were times when it gave an incation to trade, and all the indication were green or grey, But the next bar closed down or up and then continued in the wrong direction. Then giving another signal in the other direction. So If a person watches the close of the next bar or two after the signal going in the right direction i think we can filter out some bad trades.

Just my two cents if it makes sense.

Cheers

 

[one2watch]

i don't know how much that system above costs but i m tempted to order the system below. it does not seem a bad system for under 100 bucks

 

[wrm]

one2watch,

no detailed info, no screen shots, url link with HOP of the clickbank, template website. I would say it is SPAM ad.

Also you have another posts with links to other sites where you can find many clickbank products promoted by you.

 

[wrm]

So, guys,

how is the ProFx trading doing?

 

[forexdragon]

Profx trading update

Hi Guys just and update on the Profx manual trading,

This past weeks has generated a 500 pip gain with a 75 pip loss = profit 425 pips.

Now that is conservative, i could of generated alot more but that was just setting TP of 100 pips a trade on the GBP/USD pair. S/L of 75 pips I only made 5 trades this week.

I am heading back to work in the Jungle of Papua New Guinea so i won't be trading everyday but still have internet there. So hope to grab a few pips..

One thing i have been really making sure all indicators are a definite go n the direction of the trade on 30M chart prior to entering trades and this has definitely eliminated my losses.

Cheers

Forexdragon

 

[brt]

forexdragon- What are your thoughts on only taking the signals that are in the same direction as the main trend to cut down on trades that seem to turn around and go the wrong way as soon as you get into them?

Thanks!

 

[forexdragon]

brt,
I would say that is a very good idea, i will also keep that in mind in my trade executions. Hve you been using the Profx sysytem? If so how has it been going for you?

thanks

forexdragon- What are your thoughts on only taking the signals that are in the same direction as the main trend to cut down on trades that seem to turn around and go the wrong way as soon as you get into them?

Thanks!

 

[brt]

I just started demoing it to see if it will work for me on a live basis. So far, so good. Haven't been able to catch many signals because i am not in front of the computer all the time but I seem to have a better record with the trades I take with the trend, althoughI haven't done any where near enough trades for it to be a statistically sound conclusion. Thanks.