jacknie

Hi,

I have to concur with you guys regarding magic stick potential. The question remains how to use it effectively?

I believe that we need an additional reliable indicator to confirm the entry.

From my experience lower time frames are too quick for the magic stick. H4 & D1 have too much amplitude and with a bigger lot size the drawndowns can be quite substantial.

I can confirm that H1 is the most suitable timeframe for me; the trend is already well defined and a change is quite realiable.

What I am looking for is a solid confirmation. Currently, I am using stochastic 89,3,3 with decent results, however, I need a better confirmation.

Guys, take my word for it if we manage to use 1 or 2 indicators in conjunction with the magic stick successfully we may come up with a great system.

I am looking forward to your experiences with the magic stick.

Jack

Hi Guys,

I have literally check each and every system published in this forum – looking for an indicator, EA or concept that would help me to improve my trading.

NOTHING REALLY WORKS!

OK, let me re-phrase it; it you look for a holy grail – set it and forget it – you will not find it. People who make money are those who sell the crap -- period.

Having said that, there some concepts or indicators that are promising. The only one that impressed me is the Magic Stick. It is based on trendlines, price action – the real thing!

Whenever there is a topic how you make money or show me how you make money – there is really no response and the topic dies on its own.

So, one can come to a conclusion:

a) No one is really making money;

b) No one wants to share the system;

A wise man once said “Learn from others mistakes” and this is so true. I invested tones of time testing Eas and systems etc., so if you want to expedite your learning and future success concentrate on price action not indicators.

P.S. Try to use Magic Stick with Support and Resistance lines.

Hi,

I like the D1 analysis in combination with RSI.

I trade H4 and I concur with the observation that the EU will go down.

According to my H4 chart and trendlines, I believe EU pair will go down to at least 1.33950 level and it may bounce back at that time. If it breaks this support line it will go down until 1.2900 (but, for that it has to be some substantiated events to support that move).

In all likelihood, it will bounce back and continue going up and will challenge 1.38 resistance.

Jack

Guys,

Let's be honest - we all have spent thousands of hours testing everything what is on the market and what this forum has to offer. I have not seen even one thread that would say - look - I trade this way - I consistently make this money. Follow the steps exactly as laid out and you will end up with the same results.

I believe we should have all deep reboot and forget about all the indicators and Eas.

I think the questions is simple - "show me the money"

IS THERE ANYONE WHO HAS A SYSTEM THAT WORKS - and WE CAN USE IT TO TRADE FOR LIVING!

Jack

Hi,

That's true - mine stopped working too!

Jack

Hi Guys,

This EA has a great potential and cudos to everyone who dedicated his/her time to make it better.

Regarding the broker and GMT time, no wonder there is a bit of confusion. I believe that recommended trading time should be in GMT not a broker time (since there are many broker with different offset) - AS A POINT OF REFERENCE.

"All the time filters run off your broker clock so don't worry about it, it works. Just ignore the inherent +3 GMT chart display."

Tomislav, my interpretation of your reply is as follows: the EA is using broker's time to compare with news releases e.g. forexfactory.com calendar.

Questions:

A. Recommended time of operations for V5 is start time: 0:00 stop time: 8:44 - is this GMT or broker time?

B. Min profit: 15 - is this for 4digit accounts?

C. I do not see any stop loss? Is there any stop loss?

Finally, what would it be an optimized set for CableRun v5 with the FFCal news - a preset to avoid confusion e.g. for Alpari US.

This may serve as a good point of reference to us all.

Thanks Guys!

Jack

Hi,

I am forward testing it on demo and you can only run on 1 pair. If I open antoher pair it crushes my metatrader.

In addition, my results are mixed. I had a small win on eurusd & usdchf and huge loss on eurgbp

It trades only for 2 hours asian session. I do not see how you can make any money with it. One win one loss etc.

Honestly, I am getting tired testing these Eas. Guy looks genuine on the video, builds everyone's hope and the same bs. I don't get these guys. Since the purchase is fully refundable what's the point. I keep asking myself a question: is there an EA that makes money?

Jack

Hi,

The downloaded goldtradepro ( http://www.goldrushea.com/GoldTradeProExpertAdvisor.htm ) worked initially for a day or so, then it stopped working. I tried to use it on M1 and M5 still did not open any trades.

Does anyone has an educated version of this EA?

It would be greatly appreciated if it could be posted -- in return I will post my results from different timeframes.

Thanks,

Jack

Hi,

I have a couple of good trades yesterday e.g. EUR/USD it went all the way to TP (entry Aug.17 - 01:51 GMT)

Today another winner GBP/USD (Aug.17- 14:29 GMT).

Yesterday's EURJPY was a winner too. I entered it later (did not see popup righ away) and perhaps that was the reason it ended positively.

I use H1 for trading and all defaults except lot size.

I will try as well H4 to see if there is a difference. I will post the results.

So far so good. We will see how it performs forward.

Jack

Hi Guys,

Have you ever wondered why there is so many EAs?

If there has been one that made money why bother to develop another unless it would make more money in the same amount of time. So, we would have then 2 or 3 systems that would make everyone happy and rich. The only people who become rich are the guys who sell it. All the EAs websites look alike. The use the same template and wrap up another EAs with a twist and here you go - $99 less in your pocket. I assume that you test it first before running live (otherwise it is total disaster to your live account).

I have not seen a profitable EA in a long run yet? I do not dismiss them totally since there is always something good in a package (an indicator or a concept) that could be used in my system. This is the only reason I check them. Over the last 2 years I have tested a lot of them. All the claims of making money etc. ARE FALSE.

If I can share anything here with those who start trading is DO NOT EXPECT TO SETUP AN EA AND BECOME RICH. You need to build your own system. There are some EAs that are very intriguing e.g. Forex Insider Pro - http://indo-investasi.com/showthread.php/2665-Forex-Insider-Pro . Given proper filtering (ADX or Emas) and Time Frame it has a great potential to do be a successful EA.

Good Luck Guys !

I am aftraid it does not work this way. Both login and password has to be known so the upload takes place.

We would appreciate it if you could upload the files. There is no need to reveal your credentials.

Thanks,

Jack

Hi,

I am afraid it does not. This is just a php link. You need to attach a file after an upload.

Please try again. We are very interested to see differences between version1 and 2.

Thanks,

Jack

Re: [REQ]Bl@ck P@nth3r

Hi Guys,

My forward testing for this week (I started on Thursday - so only two days):

Alpari: GBPUSD -149

Open trades - GBPUSD +32.56 & EURCHF +23

IBFX:GBPUSD - 11

Open trades - GBPUSD -1.12 & EURCHF -2.16

To early to make a decision on this EA. The following week should shed some more light.

Jack

Re: Forex Brilliance Robot

Hi,

I had a couple of trades on Alpari:

Loss: GBPUSD - 250

Gain: USDJPY + 127

and still open

Open: USDJPY +46 as we speak.

We need at least a week to get a sense what these Eas are capable of.

Guy please report your findings.

Jack

Re: Forex Brilliance Robot

Hi,

What's the timeframe?

Jack

Re: Steinitz Fractal Breakout

Guys,

Thanks for your feedback.

I have a gut feeling that if this indicator is used in conjunction with a filter such as CCI, RSI or Stochastic it may be become a successful trading system especially on H4 or D1 timeframe.

I will try to test one one pair and report results in a week time or so.

Jack

Re: Steinitz Fractal Breakout

Hi Guys!

I have received an email from Steinitz on how to trade news and of course a promotion of his Steinitz Fractal Custom Indicator v1.53.

It looks like it is a newer version (unless it is the same as the educated one 1.5).

I was wondering if anyone knows anything about it?

Secondly, has anyone been successful trading this indicator?

I have not!

I follow the signals and as well his methodology but very often once I enter the trade it changes quite quickly in the opposite direction with drawdowns upto 100 pips. I do not believe that this is what one would expect to happen especially on higher timeframes which they were supposed to be much more stable (even in Steinitz's own words).

I watch his vidoes and I like what he is saying. I am on the same page with many aspects of his presentation. What bothers me is the fact that theory differs so much from the practice.

If anyone makes money with this indicator, would you please share with us and how you use it or what you do differently?

Thanks,

Jack

Re: Forex Insider Pro

Hi Guys,

I have tried to change lot size to 0.01 and it does in parameters, but when it opens a trade it is still 0.10.

I adjusted as well percentage risk to 1 from 3 - no difference.

Do you experience the same problem?

If yes, do you know how to by pass it.

Thanks,

Jack

Re: Forex Mercenary

Hi Guys,

This my continuation of evaluation of the Mercenary software.

First of all, the consequetive wins as claimed in the videos with 10 pips SL is impossible. I have devoted the Asian session yesterday Jan.17, 2010 and was entering the signals as generated. Results were devastating. The market moved sideways and very quickly all the trades vanished.

Then I decided to increase the SL to 20 pips and the result was much better - 50/50. Then again there were so many signals coming your way with very little difference e.g. 1.4365, 1.4366 - you get the point, so if you enter them all even using small lot sizes, it will grow to a substantial amount and no one would mind it if they were all winner, but they are not.

Before totally dismissing this software/signals, is there something I am missing in here?

Guys what are your experiences?

Jack

Re: Forex Mercenary

how exactly to use this tool? I have extract it to my desktop and tried the bat file...nothin happen...I also downloaded Java and installed it...still nothin happen...can anybody here with a kind soul give any tips to make this tools work on my pc...btw i am using XP...thanks again.. ^:)^

a. Uninstall java from your computer.

b. Follow the link in your manual to get java.

c. If your computer is 32 bit - use 32 version if 64bit - use 64 version & restart your computer.

d. Test of java website if your java is working.

e. Unzip the Mercenary software

f. Double click bat file - at that time in a couple of minutes a windows pops up.

g. Click the start button.

You should start receiving feed in a couple of minutes.

These are the steps. It should work. If it does not - your operating system (firewall etc.) or java is not allowing to communicate with Mercenary software.

Good luck,

Jack

Re: Forex Mercenary

Hi Guys,

I am testing the software on Demo first to see if the claims are real. Here is my experience ...

A. One thing is sure with TP and Sl of 10 pips it is impossible to make money. I tried it and SL closed almost all the trades. So this approach will not work, period. It is too close + spread etc. impossible. So there is definitely a flow, at least for me (I would like to know what experiences you have had?).

B. Now in terms of 10 pips; the lot size has to be substantial if you would like to see money (on $1000 I would say 0.5 or more), since it is only 10 pips.

C. The volume of signals that I have received (all short) within small differences etc. 1.4378, 1.4375 etc.) made me wonder what was the strategy behind? Should I follow all the signals? I think that there were more than 10. So, if I follow the signals and open trades that it would equal to 10 trades times 0.5 = 1 trade of 5 lot size. This is quite substantial.

Well, to make long story short; this is what I did:

a) I assumed that the signals generated were correct (at least that what all want to believe James and his team).

b) I decided to trade lot size 1.0 to see some dollars not cents and set TP to 10 as original. I increased SL to 20 pips to give room for the trade to succeed.

c) Once I received a signal, I did not enter right away. I have noticed that there must be some time delay (I am still confused about the time that comes with the signal – but this is a different issue). I setup Bollinger Bands on M1 timeframe after receiving a signal I waited for the price to reach the upper band – then I entered. This gave me extra pips of margin to trade.

My results on $400 demo:

4 trades reached the target $9x4=$36

1 trade reached SL=-18

Profit = $18

I traded this Friday, afternoon EST, so the market was mostly sideways. I believe that in a trendy environment, it would have picked up those trades quicker. Since there is only 10 pips of potential profit and time is very sensitive, I think that the system will slave anyone to the computer all the time. These signals come quite often and if there is a slight movement the popups interfere with setting up trades.

More testing needs to be done to draw a conclusion. I am quite certain that we will receive a new update to the software soon. There are too many signals generated too close to each other giving a little time to setup a trade. There will be a lot of people confused and will find this software useless because of that.

I would love to hear your experiences.

Jack

Re: Forex Mercenary

Hi Guys,

This is the message I received from James. It looks like a technical issue with the servers.

"We are currently experiencing problems with our server. We're working

round the clock to resolve this and understand that some of you have

had problems generating a live data feed.

Others have had trade signals so all I can ask for is your patience.

I'm sorry for the delay and we are doing our best to resolve the issue

so you can start trading asap.

We've expanded our support team to deal with enquiries and demand. But

if there is a slight delay in getting a response to your email, please

bear with us.

Kind regards

James