paws

fxfxfx -Thank you for your generous offer. I'd like to learn from you too.

Len

I knew within a few days of purchase that I would never use this robot - backtesting showed that it would blow up the account (after the opposite trade with 5X the risk, it then reverses again and you are losing capital at 5X the initial rate until it devours all your capital) on Nov. 12, 2010 and came within one pip of blowing up the account on Oct. 12, 2010 (twice within a month!).

BEWARE!

The published track record shows no trade on Nov. 12, 2010. But when I backtested EU, clearly the account would have blown up on that day! No disclosure of the Nov. 12 danger!

"Now, if you play the video from the International Traders Expo, in 2:48, you will see this shot:

This is a screenshot of an account, which is supposed to be the one that users can view on their website. However, it is a DIFFERENT account, because after 152 trades, the currently published account wasn't at $2,092.13, but at $2,587.18, as you can check for example on MyFXBook.com, where users track the account.

What this PROVES is that the account presented on Expo was different from the currently published (because back in November, they didn't know which account will be the successful one) and that LTP had multiple accounts and the published one is just the successful one."

According to the video,

-- the balance as of around Nov 17 was around $2,500.

-- Now take a look at the performance sheet on Nov 10 at 16:55

-- LeoTrader sold 1.9 lots of eu at 1.36860.

-- The price went as high as 1.382 before coming back down for the small profit on Nov. 11th - a drawdown of 134 pips

1.9 lots is $19 per pip X 135 pips (allowing only 1 pip for spread) = $2,565

-- which would have blown up the account a week before Nov. 17th????

sounds a little fishy to me....

Thanks dave.

You had mentioned your stop loss is 50 pips - do you have a default profit target, or (kraven's levels, Murray Math levels, etc)?

Any other things that you take into account?

Greatly appreciate your sharing this - looks very promising!

I aim for between 1 and 5 percent per day of my account balance (ie compounding every day). 99% of the time I trade with the trend (ie confirmed by the 4hr chart) of off the 15m tf. My stop loss is 50 pips (ie the opposite level to the direction I trade). Quit often, even in ranging markets, price will either bounce off a level and reach (or almost reach) the next level. If there is plenty of momentum it will crash through that level towards the next level.

 

You can trade off any pair with these levels, just put them on and see the reactions at them. I trade mainly the Eu/Us and Cable but tend to scan other pairs as well for opportunities.

 

All the best.

 

These levels are much better than the so called 'power levels' talked about on FF'ry. In my opinion these levels are the best around and always will be.

Trading with the trend - confirmed by the 4 hour chart: Dave - is there a MA on the 4 hour chart you could use as a guide to this 4 hour trend?

Sneak Access! http://www.rev0luti0naryfx.c0m/secret.htm "Only 25 copies released now"

He shows "live results" for $10,000 initial deposit with about 301 trades from 10-19-2009 to 10-7-2010.

If you add up all the winning and losing trades and divide by 301, it comes out to $71.62, but the 4 big losses are -$2,360, -$2,269, -$3,102 and -$2,508. The old huge loss once-in-a-while setup!

If you look at the website's published results, so far August has a substantial net loss. Apparently a long ways to go to that $4,000 by the end of the month.

http://www.eminiswing.com/latestresults/#

Please send me the invaluable gift.

thank you

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

Rio, thanks for all your hard work, and before you go, any chance you could leave what you have in the form of an indicator that has an alert when at least some of the conditions line up for a trade? ^:)^

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

Thanks oktoeight. I've done a little progamming in Tradestation "easylanguage" but nothing in MT4. Would need to know the logic of kicker to do anything.

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

As a step toward ea development, consider using an indicator to test this system:

Long signal:

1. Kicker( W ): (Value W variable user input)

A. slope of X or greater (X variable user input)

B. positive slope maximum of Y bars previously (Y variable user input)

C. Midpoint of bar > Kicker - Z distance (Z variable user input)

2. Momentum

A. On/off switch for both long and short signals

B. Momentum period of M for both long and short signals (M variable user input)

C. Momentum > 100 + N (N variable user input)

3. MTF MACD

A. On/off switch for both long and short signals

B. Period P variable input

Short signal:

1. Kicker( W ):

A. slope of X or less (X variable user input, negative of 1. A. long above)

B. negative slope for maximum of Y bars previously (Y variable user input, same Y for long signal)

C. Midpoint of bar < Kicker + Z distance (Z variable user input, negative of 1.B. above)

2. Momentum

A. On/off switch for both long and short signals as 2. A. above

B. Momentum period of M for both long and short signals (M variable user input)

C. Momentum < 100 - N (N as in 2. C. above)

3. MTF MACD

A. On/off switch for both long and short signals

B. Period P (same P value as above, variable input)

Alert on/off switch when conditions above met

Just a thought - you could go through the signals relatively quickly and eyeball in what PT and SL should be, how the breaking of SR lines figue in on PT's

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

Looking at back history, looking very good, :-bd harsh!

Re: Beamfx anyone ?!

When I talked to them yesterday, I told the gentleman that the high spreads were not in line with what I had read on ForexPeaceArmy.com reviews.

He said "institutional low spreads" were available if the account size was $20,000+ USD.

Re: JadeFX

I opened an account Feb 1, and both demo and live trades that I have place manually have been executed with virtually no slippage - EU, GU, GJ, UJ - good experience so far.

Re: Some forex systems to use in Tradestation

MikeII

Thanks - these are great to try out on Tradestation where I've got other "Easy Language" programs to combine them with.

Len

Re: Trend Status Indicator

An excellent indi dreamy - Thanks for you hard work and sharing! ^:)^

Re: vertical line indicator

Here is a work-around until someone has that file for you:

In MT4 it shows the beginning and the end of Asian, etc sessions, so what you could do is input, or example, begin session at 0:00 and end at 0:01 which would give you a vertical line 1 minute wide. Hope this helps. If it does Kudos are appreciated. :D

http://www.megaupload.com/?d=5CDUOJLR

Re: LMT Forex Works Well

My experience over 8 weeks was not profitable on daily charts. Does anyone have 4 hour chart results that they can share?

Len