What's this Elliot Wave Indicator for the FX market all about?

[CarpeUK]

Never managed to trade today but from the 4xtrend charts, who ever backed the sell on the GBP/USD should have made near on 100pips

A sell appeared on GBP/USD at about 6.30am. Did anyone trade 4xtrend today on the GBP/USD if so how did you get on.

Regards
CarpeUK

 

[TheBramble]

No I didn't. But I did get a LONG on the EUR/USD at 18:30 (BST).

 

[alliance]

Hi guys,
Not sure if I have these (paper) trades correct...1st time try @ both JT and 4xtrend systems AND 1st time try @ any kind of chart! Pls feel free to correct me on any errors


First JT's BO:
GBP/USD:
High: 18012 Low: 17968 Sell signal @ 8.50am, 17967. Stopped out @ 19787 @10.30am
-20

EUR/USD:
High: 12335 Low: 12312 Buy signal @ 10.30am,12336. Closed @12436 just b4 9pm
+100
(With a trailing 35 point S/L, then thru day trade could have been stopped out a cpl of times when (momentarily) it was 40-45 , but as I wouldnt plan on trailing the stop every 15 mins precisely, I reckon that by time I got to change the stop, the danger would have passed :cheesy:

TOTAL JT BO + 80 less spreads

Next 4xtrend:
EUR/USD:
All 3 indicators signalled a buy @ 12noon ,12334. Closed @ 12336 just b4 9pm.
+102
(Wasn't aware of any relevant news around 12 noon but it took off thereafter)

GBP/USD:
All 3 indicators signalled a buy @ 1.30pm, 18067. Closed @ 18121 just b4 9pm.
+ 54

Obviously the crap 1.30 US news helped this one along, however I found it surprising that by the time the signals lined up, it had already moved +91 from the lows. Had I been trading this for real I would probably have been more than a little hesitant to go long having seen the +91.

Total 4xtrend +156 less spreads

Bet that doesn't happen when I do it for real

 

[CarpeUK]

Hi guys,
Not sure if I have these (paper) trades correct...1st time try @ both JT and 4xtrend systems AND 1st time try @ any kind of chart! Pls feel free to correct me on any errors


First JT's BO:
GBP/USD:
High: 18012 Low: 17968 Sell signal @ 8.50am, 17967. Stopped out @ 19787 @10.30am
-20

EUR/USD:
High: 12335 Low: 12312 Buy signal @ 10.30am,12336. Closed @12436 just b4 9pm
+100
(With a trailing 35 point S/L, then thru day trade could have been stopped out a cpl of times when (momentarily) it was 40-45 , but as I wouldnt plan on trailing the stop every 15 mins precisely, I reckon that by time I got to change the stop, the danger would have passed :cheesy:

TOTAL JT BO + 80 less spreads

Next 4xtrend:
EUR/USD:
All 3 indicators signalled a buy @ 12noon ,12334. Closed @ 12336 just b4 9pm.
+102
(Wasn't aware of any relevant news around 12 noon but it took off thereafter)

GBP/USD:
All 3 indicators signalled a buy @ 1.30pm, 18067. Closed @ 18121 just b4 9pm.
+ 54

Obviously the crap 1.30 US news helped this one along, however I found it surprising that by the time the signals lined up, it had already moved +91 from the lows. Had I been trading this for real I would probably have been more than a little hesitant to go long having seen the +91.

Total 4xtrend +156 less spreads

Bet that doesn't happen when I do it for real

Hi alliance,

Thanks for the post. Nice to see 4xtrend doing well, (not that i ever doubt it will...YET) :cheesy:

Are you trading this during the day? full time? is the above todays trades

how are you finding 4xtrend?

Regards
C

 

[alliance]

Hi alliance,

Thanks for the post. Nice to see 4xtrend doing well, (not that i ever doubt it will...YET) :cheesy:

Are you trading this during the day? full time? is the above todays trades

how are you finding 4xtrend?

Regards
C

Hi Carpe:

Finally got around to reading the manual y'day, so yeah above were todays trades, taken as they happened using 15min chart. I screen-watched for most ~ but not all ~ of the day, hence my concern that I got it right and above info is correct. I guess that going per the manual, 4x trades should still be running til indicators change, but I am not up for more screen watching 2night so pulled the plug @9pm. Any/all input gratefully received.

Did u manage to get any trades in when u had time to look?

 

[CarpeUK]

Hi Carpe:

Finally got around to reading the manual y'day, so yeah above were todays trades, taken as they happened using 15min chart. I screen-watched for most ~ but not all ~ of the day, hence my concern that I got it right and above info is correct. I guess that going per the manual, 4x trades should still be running til indicators change, but I am not up for more screen watching 2night so pulled the plug @9pm. Any/all input gratefully received.

Did u manage to get any trades in when u had time to look?

Well congrats on your first trades with it. got some nice pips. if you followed the manual and traded when the signals tell you then you are doing it right. The only tip i can offer at this point is becareful on the exit, if you use the indicators to exit you may lose a lot of the profit.

I have started to use 3ema's 5/20/60 (crossover/revers) to signal for a possible exit but hay find an exit strategy that you feel comfortable with, other then that i think the startegy is very good.

Also i have found it works very well during trends.

I am glad you like it.

I never managed to trade today & may not get time tomorrow, i may be getting a promotion so i have to put the hours in (defeats the object of trying to become a trader for a living i know but what can you do )
I can get the FXCM platform running on my PC at work but for some reason i cannot get the chart plug-ins to work. (if they had an option to add details for a proxy i would be able to get the charts running but there is no proxy settings option in the plug-ins)

Anyway, i wont ramble on, enjoy the trades and let me know how you get on

Regards
C

 

[CarpeUK]

Carpe,

Nice trades! What does EMA mean Also, were these day trades, or EOD?

Mark sorry for the delay, just noticed your post.

EMA means experiential weighted moving averages. I use the EMA for exit signals whilst day trading (when i get the chance). At the moment i am struggling to find an EOD strategy that works so i will be leaving it for a while, see if i can come up with some new inspiration

Regards
C

 

[Mark Hellikson]

Mark sorry for the delay, just noticed your post.

EMA means experiential weighted moving averages. I use the EMA for exit signals whilst day trading (when i get the chance). At the moment i am struggling to find an EOD strategy that works so i will be leaving it for a while, see if i can come up with some new inspiration

Regards
C

Okay, thanks Carpe. How did you know to use the EMAs?

 

[Mark Hellikson]

Yes I did buy it. Week one plus 121 pips.

Snaily,

How's it going this week with JT's new system?

Thanks.

 

[CarpeUK]

Okay, thanks Carpe. How did you know to use the EMAs?

The Advaned Options Strategy has information about the indicator and how to use it.

 

[TheBramble]

I'll own up to having a look at both the 4xtrend systems.

I like them. The Advanced Options Strategy is, IMO, very clever.

I got a signal (from the AOS system) for a Long on the €$ at 18:30 on Wednesday. I did all the calculations (which I find incredibly tedious) and set Stop and Limit levels. The thing which I find difficult with the AOS system is the need to keep your hands off the keyboard while the trade runs. In this instance, it ran over-night (something I NEVER normally do, but in FX I think it's not quite as meaningful as with instruments where there is a market close each day) - in fact, it ran for 18 hours until it hit its target.

I keep a small portion of my trading capital for testing systems. I find paper-trading doesn't evoke the same level of concentration and real-worldliness I need in order to make an informed judgement.

Technical details:
Signal @ 18:30 (Weds 29/09) €$ Long using 30 min chart
Entry 1.2325
Stop 1.2297
Limit 1.2395
R:R (28/70)=>2.5

Target Hit @ 12:45 Thursday (Thu 30/09)
Exit 1.2411

(All times BST)

I'll keep an eye on these systems, but as I say, find it difficult to keep in a trade for such a long time (not my 'normal' trading style) and especially so overnight. Though it has to be said, the sort of money I risk on these 'testing' trades would not cause anyone to lose any sleep!

 

[CarpeUK]

I'll own up to having a look at both the 4xtrend systems.

I like them. The Advanced Options Strategy is, IMO, very clever.

I got a signal (from the AOS system) for a Long on the €$ at 18:30 on Wednesday. I did all the calculations (which I find incredibly tedious) and set Stop and Limit levels. The thing which I find difficult with the AOS system is the need to keep your hands off the keyboard while the trade runs. In this instance, it ran over-night (something I NEVER normally do, but in FX I think it's not quite as meaningful as with instruments where there is a market close each day) - in fact, it ran for 18 hours until it hit its target.

I keep a small portion of my trading capital for testing systems. I find paper-trading doesn't evoke the same level of concentration and real-worldliness I need in order to make an informed judgement.

Technical details:
Signal @ 18:30 (Weds 29/09) €$ Long using 30 min chart
Entry 1.2325
Stop 1.2297
Limit 1.2395
R:R (28/70)=>2.5

Target Hit @ 12:45 Thursday (Thu 30/09)
Exit 1.2411

(All times BST)

I'll keep an eye on these systems, but as I say, find it difficult to keep in a trade for such a long time (not my 'normal' trading style) and especially so overnight. Though it has to be said, the sort of money I risk on these 'testing' trades would not cause anyone to lose any sleep!

Congrats with the 70pips. as you know i also bought the AOS but have not had time to put it into practise as it is a little more involved, i will start with it next week. Well done!

I have to agree with Bramble, the AOS is a very clever way to score some pips.

C

 

[snaily]

Snaily,

How's it going this week with JT's new system?

Thanks.

Mark,
The trades have just closed out for the week first trade -50 pips second trade +81 so a net +31 for week 2 of £Trader JT system.

 

[TheBramble]

86 pips.

 

[Mark Hellikson]

Mark,
The trades have just closed out for the week first trade -50 pips second trade +81 so a net +31 for week 2 of £Trader JT system.

Hmmm... That's better than nothing, but I was hoping his system would really amount to 100+ pips/week as proported... Keep us posted as to next week's results. I'm still trying to decide if I should try out his system.

Thanks a lot Snaily, and have a nice weekend!

 

[Buk]

I'll own up to having a look at both the 4xtrend systems. I like them, The Advanced Options Strategy is, IMO, very clever.

be interesting to follow your trades on this thing Tony

 

[Buk]

quick question guys, and apologies if this has already been discussed........but does this system/method incorporate any trail guidelines/stake grading?.....or is it simply an individual, discretionary choice?

 

[snaily]

Hmmm... That's better than nothing, but I was hoping his system would really amount to 100+ pips/week as proported... Keep us posted as to next week's results. I'm still trying to decide if I should try out his system.

Thanks a lot Snaily, and have a nice weekend!

Mark,
Its advertised as an average of 100 pips per trade not per week. So we need to give it a bit of time yet. have a great weekend.

 

[Mark Hellikson]

Mark,
Its advertised as an average of 100 pips per trade not per week. So we need to give it a bit of time yet. have a great weekend.

Oh, okay, thanks for the clarification Snaily. So one should expect to be making 200 pips per week on the two trades the system says it makes during any one week period...

Just one question, does the system tell you which trades to make, or do you decide those on your own according to some directions the system says to look for?

In other words, is the system suppose to return 100 pips per trade right out of the box, or do you have to get used to interpreting its suggestions, etc?

Thanks.

 

[LevII]

Mark,

Why don't you just buy it? It only costs peanuts - about £300.

Then you could answer all your own questions.

Alternatively, just e-mail JonnyT. I'm sure he would be delighted to correspond with you.