Badger1976

Isn't this data in the history centre on MT4?

When you say winner do you mean it looks really profitable or you just got the indicator to work?

Does anyone have any long term performance / back test results for this?

Do you mind sharing it so we can find out if its really that good, if it works as the vendor claims im sure many of us will buy it including myself.

Thx

 

I can't share the strategy guide as you have to access it with a personalised code on the website. I'm not sure that it would be very fair to do that either.

 

The basic strategy is to trade one day at a time and to try to hold a trade open until the price has moved to near the average daily range (or less if there isn't much movement). There are no classic indicators for entering a trade but a set of entry conditions based on how price has moved and time of day etc. The conditions are easy to follow but quite detailed so I can't really explain it in a few lines (the strategy guide is actually over a hundred pages, although this does include a section on basic forex stuff for beginners).

I like holding on to my trades for a bit longer and targeting the average daily range. If you look hard enough S&R are everywhere, so I don't find them that easy to trade with.

I can't believe they are still claiming to believe so successful and trying to sell there EA. There is so much negative talk about them online.

If your worried about your broker you could always keep your account size really small and only add money to it when you need to. I try to withdraw any profits soon after I've made them.

 

You could also take your money out on a Friday as both Worldspreads and MF Global were found to be bankrupt over the weekend.

Always go with a regulated broker. I was with world spreads when they went under and if it wasn't for the fact that they were regulated by the FSA I would have lost a lot of money. They were offering zero spreads which I think pushed them under. I think the lesson here is; if it looks to good to be true - it probably is!

Forextopshop is pretty good. I haven't made a fortune with it but it has made some profit. The trades can sometime be infrequent though.

Tried and doesn't work. I think you need a broker with 0pip spread. Best to avoid this EA

I have been using the Intelligent Forex Trading system for a few of months now and I would say that it is one of the best systems I have come across. The strategy isn't really a break out strategy but it does say you should only take trades when price is outside of the high/low of the asian session, although you do not trade this break. The strategy guide goes goes into a lot of detail on when to trade and what conditions must be met before you can take a trade. I was trading it mechanically for a month or so and made a tidy profit (one of the few systems I've tried that actually does this).

 

The guy who sells it also runs a live room / signal service that I've recently joined on a free trial. It's a it too early to say how profitable this is but the first week ended with lots of profit. A lot of the trades are the same as I would have taken if I have been trading the system by myself but some of the most profitable signals are trades that aren't in his guide. I guess he didn't want to give all his secrets away!

Forextopshop offer a free EA. It is pretty good. The profits are not huge and there can be days were it doesn't take a trade but overall I have made a small profit, so I guess they are better than all the scammers out there!

I started trading with Damon from piptastic a year ago. I liked his approach and he does have a confidence about him that I liked. I tried all the trading strategies and systems that he sells (even the DVD). They are well written and it is relatively straight forward to follow the strategies he teaches. The big problem I found was that although he claims that you can trade any of the strategies mechanically, you cannot. I did a lot of back and forward testing on the strategies by trading them purely mechanically but it never worked out much better than break even. I tried his live room for a long time as well but he doesn't really say what trades he is taking he just makes general suggestions. I think that if you are a complete beginner then piptastic could be helpful in teaching you the basics but after you have the basics I would find another live room / strategy.

I joined his live room for a couple of months and to be honest I wish I never had. The strategy he teaches seems reasonable but it never worked for me. It is basically a break out strategy using 4/8 hour candles.

 

In the live room he has a habit of not saying when he has moved his stop loss and and is also fairly vague about set ups. When things go well claims to be always in the trade but when they go badly he claims to have already moved his stop loss. In the end I stopped subscribing as I lost hundreds of pips. I was trying to follow his signals word for word but due to the vagueness of the signals I ended up losing hundreds of pips while he claimed to be doing ok. I would save yourself the money and look for another signal provider.

I have used Alpari for a few months now and they are pretty much the same as every other MT4 broker. The spreads are good but can sometimes move around a bit in the evening. Execution seems instant. You can trade gold and silver (not sure about CFDs).

 

Thanks