god

Craven or any long time user

Are you still generating profits with this indy? Thanks for any info.

Hey Mangiare

Thanks for Supertrend filter --looks good.

If we get an arrow but Supertrend is wrong colour then after 4 or 5 bars changes to right colour--is this a valid entry? How many bars you reckon?

5 winners and 1 break even(would have been a 20 pip winner but I got nervous re NFP and bailed). I actually bought the system cause I wanted to talk to Barry---he gives 3 days email advice. I'm using it on a live account and has already paid for itself so I'm happy. Barry admitted that exits can cause problems and he flicks back and forth on the 5 min and 15 min and watches price closing on other side of 5 ma.

He had 60 or so consec winners in Jan. and averaged 13 pips---so hes obviously closing early at times.

3 out of 3 so far with a 20 pip winner on EU at the London open entered long at 1.3694.

Can somebody post a step by step method for posting charts here----I dont know why it cant be as simple as posting on ForexFactory.

Cheers

I just went long usd/chf at .9504 tp 20 pips SL at .9465---see how it goes. Some big news coing up in 50 min on GU--might screw things up.

Bailed out for +16--right on news time---just in case. I'll count that as 2 wins in a row---498 to go!

According to the rules, the SL is 60 pips and TP is 20 pips. The Risk and Reward is 3:1. Very curious to know how Barry to make 500 winning trades in a row with such bad RR.

As far as I know the SL is not fixed but dependant on where the control line is plus 20 pips. So if the control candle was only 5 pips the SL would be 25 pips. Your reasoning re the RR is reversed. The worse the RR is the more likely a big run of consec winners. If you had a 2 pip TP and a 200pip SL---a terrible RR-- you would likely have a lot of winers in a row.

Freddie--- the HE is Dreamliner

The problem with all breakouts is that they don't always play fair! Forget 'signal', - price has just moved, it is likey to continue but it is also likely to retrace.

 

Too many people see these systems as set in stone. Looks like you need a bigger buffer but be aware that if price is going to retrace, no buffer will work.

 

Your question seems to me: valid signal that fails and a second valid signal but who knows where it will go.

I have come to the conclusion that a 5min chart is more likely to pull in a few pips.

Yeah fair enough Freddy but what about the 500 plus winners this bloke has. I pm'd user Dreamliner on ForexFactory --he had a meeting with this Barry bloke and reckons he's fair dinkum. He has since had 10 winners in a row AND his wife---a trading novice ---has had 21winners in a row. So I'm thinking that this system doesnt require huge discretion--so we should be able to replicate the consec winners

Hi God,

 

yes you can do it like Fredd(IE) said or you can also right click and open image in new tab.

 

Great job for your trade, but it is the minimum, everyone would expect from you. ;)

 

 

 

http://img525.imageshack.us/img525/8291/godrj.jpg

Ha ha nice one I'm actually getting 40k pips per day but dont like to brag.

My cosmic network is down at the moment so I'm hoping that someone can confirm that the control candle for the London session is the 15 min candle before the London open?

Cheers

God

About the asian session, here is what I found in the snapshots that I did, before the forum becomes private.

It might give some light!

 

http://img831.imageshack.us/img831/3694/003119jan0841capture.jpg[/img]

 

Does this link need to be adjusted?---doesnt work and I cant quite make it out in your post.

I did a live trade on EU last night(London open) and got the 20 pips--but only just. The 10:15 candle was the signal and I entered short on the 11:15 candle at 1.3561

god (hehhhe i'm talking to god) you can thank any poster by clicking on the gray 'thanks' on the bottom left of each post..........just like i did for SamW (good work mate)

the problem here is we all use different brokers.....with different times and different candle readings, i looked at some of the pics posted on the FX renewal forum before it went private and retraced them on my broker......it was totally different, sometimes to the point that the pics showed up candles, mine were down.

Cheers Kraven.

The funny thing is I really am God----but then ---so is everyone(and everything) else!

okay lads and lasses, after reading this thread i did a bit of digging (the things i do for you's lot)...

 

THERE ARE ONLY 7 RULES TO FOREX RENEWAL

 

#1 Draw a horizontal line on the open and close of the control candle.

#2 Draw an Eagle line for your session for confirmation.

#3 Wait for a signal candle - one that opens and closes above or below (with nothing touching) the Horizontal line.

#4 On the next candle, enter in the direction of the signal candle after 2 or 3 pips, set TP at 20, SL at 20 pips below the horizontal line.

#5 Don't trade between the 21ema and 60sma unless you see 20 pips available

#6 Don't enter a trade on the 60sma, wait for the price to break above or below

#7 Look at higher TF to see where you’re going.

 

TERMINOLOGY

 

1) control candle (the one with the high / low lines marked)

2) signal candle (the one that opens and closes without touching)

3) entry candle (the candle that passes high or low of signal candle by 2-3 pips, we enter the trade)

 

how do i know this....well i got into the FX Renew@l forum

 

hxxp://finance.groups.yahoo.c0m/group/RenewalSystem/message/319

 

319 messages (u can flick through them all)

 

here's some pics........ hxxp://www.screencast.c0m/users/GiveMeFatPips/folders/Forex%20Renewal%20Trades/media/f8400ba5-589a-4fdd-85c7-18a8b46ebb82

 

......:-bd

Thanks for this Kraven. Hey how do I thank you so it is recorded in your number of thanks?

All seens fairly straight forward---except --can anyone tell me what the eagle line is? Also in one of the chart examples in Kraven's link the trade seems to have been taken in the opposite direction to the signal candle. In the 7 rules it says to trade in direction of signal candle--ie the first one not to touch the 2 start lines on control candle. Hoping someone can shed some light on this.

Cheers

PS --on second thoughts trade direction is obvious cause of where the SL has to be placed

I have a great gift for you all. :) How would you like this system to be automated? You draw a trendline and when it is broken a trade is entered? Here it is. All you have to do is put the "MTB functions" in the experts/include folder and the MTB in the expert folder. Once you load up the EA to a chart on any timeframe you draw a trendline. After drawing the trendline right click on it and under description for a trendline for a short put in "start short" and for a long put "start long." If done properly the line will turn dotted. The EA will ONLY trigger after a CLOSE outside the trendline.

 

Although the system in this thread is simple, this will allow you to manage multiple pairs with efficiency. :)

 

hxxp://mir[dot]cr/1J62G6ZX

G'day Bigpin

Thanks heaps for the ea. I was wondering if you could do what is hopefully a slight mod. Can you make it so the order is placed as soon as price hits the trendline? It would be much appreciated.

Cheers