Forex Day Monster

[john225]

I watched the system and find out that it takes very long till a signal appears evn in the m15 chart is that for you too?

[wanrayman]

I watched the system and find out that it takes very long till a signal appears evn in the m15 chart is that for you too?

 

were u looking for signals today or yesterday?

 

because yesterday all major pairs moved 100+ pips.. its normal to see consolidation today.. and majority of the big players are taking their summer holidays and most of traders are waiting for the 8.30am EST for the retail sales number to come out..

 

trading forex is just not 100% technical.. u need to know the basic fundamentals of it too...

 

hope this help..

 

p.s try to look at the market tmr.. might have some nice moves...

[wanrayman]

ok today's trade;

 

e/u = -10pips

u/j = +31 pips

a/u = -32pips (short) / +31pips(long)

e/j = -18pips

 

pretty much break even today~... break even day is way better than a losing day~ hihihihihihi

[vicqua]

i see you have the making on a real trader with the right attitude wanrayman, what pairs do u recommend for beginners, i noitce that this system gives better signals for some pairs than others, the yen pairs seem like a lot more false signals, do anyone has any observations?

[wanrayman]

i see you have the making on a real trader with the right attitude wanrayman, what pairs do u recommend for beginners, i noitce that this system gives better signals for some pairs than others, the yen pairs seem like a lot more false signals, do anyone has any observations?

 

thanks vicqua... i usually trade the e/u, e/j, g/u, e/g... sometimes cad/u ,a/u and u/j...

 

hmmmm haven't really notice that...

[fx4_ever]

wanrayman,

I also trade FDM live today (today was the first day trading live) and had a mix results today.

First trade on G/U was a good one. +85 pips. (would have hit my projected target of 130 pips, but I got out early due to the upcoming news).

then, I entered again on E/J 2 times and loss both times and ended up losing -40 or so. So, total net today is +35. But, this E/J trade was totally my fault. I made a mistake of taking trade 1) Afternoon session of US market 2) Not checking ADX. (after fact, I noticed that ADX were all gray). so, if I didn't make these mistakes, I would have ended up nice profit day. However, 30+ pip daily, it was not a bad day. Wanrayman, please keep posting your results and your trading tips (what to void, etc.) I am not new to trading. I have been trading forex, stocks, options approx 10 years or so.., but we never stop learning. Especially, when you trading new system.

Edited July 15, 2010 by fx4_ever

[fx4_ever]

FDM and FPM EA

 

I got in touch with trader/coder who wrote EA based on FDM and FPM and kind enough to authorized me to share it. I removed his email address, so that he doesn''t received emails. All entry and SL/TP is accurate as possible per manual. I trade side by side (one with EA on and the other manually) and it is very accurate as far as entries. For SL/TP, you can use your own discretion, but EA has a SL/TP built-in per manual, so you don't need to. It knows to exit. But, same token, you can also lose more than you would if you trade it manually by monitoring. It's up to you. I am planning on using the EA as a 'TOOL', when I am not around to monitor.

I only test on FDM EA, not FPM system. FPM, I haven't trade either manual nor EA. Please post your result if you are using it.

 

download EA from here --> hxxp://[email protected]/BENAC09SYE

Edited July 16, 2010 by fx4_ever
new link update

[fx4_ever]

Hi:

TGIF!

53 pips gain on G/U trade today and ended well this week. It's only 2 days trading since went live and total net gain for 2 days = 88 pips..

 

Hope people start making some post.. getting lonely here. :)

[campbell005]

any idea on which exit method the ea uses. thank you

[vicqua]

Yo wanrayman, any progress on your trades on this monster forex so far.. getting good pips

[fx4_ever]

any idea on which exit method the ea uses. thank you

 

There is parameter where you set xx pips above S/R level. But this is absolute max stoploss. Usually, EA will exit when indicator signal turns and price closed. This is where your monitoring will help. Sometime, you can see visually and act on it faster than we rely on EA's mathematical function.

[pardy]

Hi, The download limit of 10 is reached - could somebody pls re-upload it or to another site like 4shared pls.

 

Thanks

[fx4_ever]

wanrayman, I have a question..

 

When do you exit?

Do you sometime close manually sometime before price hit your stoploss when you see Buy/Sell pressure 1& 1 or Buy/Sell pressure 1 & Flat Trend changes?--> this is what creator of the system does.

 

Would like to find out how other trader (like you) handle the situation. I have follow above method yesterday and close manually. This is less loss than if it would have hit my stoploss, but loss is still incur.

But, today, I decide that I will let the market take me out and stayed in even though, color changes on Buy/Sell pressure indicator and multi trend indicator, but it never hit my stoploss of 30 pips and came down and close with profit nicely. Let me know when you have a chance to read this post. Thanks,

[fx4_ever]

Hi, The download limit of 10 is reached - could somebody pls re-upload it or to another site like 4shared pls.

 

Thanks

 

Try it again, I upload new link.

[pardy]

Thanks fx4ever, that was very prompt indeed.

 

regards

[sphanlon]

What settings do you use for the FDM EA? Every time I backtest I get nothing but a few very small losses and no other trades, no matter what I set the TP, SL, or lotsize.

[wanrayman]

wanrayman, I have a question..

 

When do you exit?

Do you sometime close manually sometime before price hit your stoploss when you see Buy/Sell pressure 1& 1 or Buy/Sell pressure 1 & Flat Trend changes?--> this is what creator of the system does.

 

Would like to find out how other trader (like you) handle the situation. I have follow above method yesterday and close manually. This is less loss than if it would have hit my stoploss, but loss is still incur.

But, today, I decide that I will let the market take me out and stayed in even though, color changes on Buy/Sell pressure indicator and multi trend indicator, but it never hit my stoploss of 30 pips and came down and close with profit nicely. Let me know when you have a chance to read this post. Thanks,

 

hi fx4_ever... sorry for the late reply.. just got back from vacation... havent post any trades yet.. looking forward to trade tmr... i usually just let the market hit my SL... because sometimes (lets say 55%) the buy sell pressure tends to give false signals... of course it does let get u out early.. but it also means that your probability of getting on a big move is also minimize... of course u save some pips.. but remember.. it also means u'll lose some...

 

i dont wanna give u advise like im a guru of FDM or something coz im not.. im just a normal trader who is like u.. im not an expert.. i dont have 10+ years of experience im just a simple man who believes i could make a living out of this and u dont even need fancy things to do it.. just rules and discipline.. what im trying to say is that u have to ask urself.. m i an aggressive trader.. if so.. let it hit the SL and enter on the new signal.. or am i a conservative trader.. who when i see one of the early warnings of a reversal i take out my position..

 

as i said before.. i have no other job.. i do this for a living.. i dont target big.. just 100+ USD per day.. so my best approach for now is be as aggressive as possible.. however.. my risk reward ratio is always 1:1.5 or 1:2.. never less... coz when u're an aggressive trader.. u tend to have this 'i have to win this' feeling all the time.. its impossible to overcome emotions.. nobody could do it.. so when u know u cant control it.. control your system thats the only option u have.. like i said.. no system is perfect i do have losses and i do have gains.. but what we want is consistency.. if you could make 20 or 30pips daily consistently for the next 2 weeks i believe u're already a great trader! (hope it make sense) :P hehehehe..

 

cenation! never give up!

[Freddie]

Hi fx4 and wanrayman, just found the thread and delighted to find that you are both making pips with this/these methods.

I am not trading live currently but will do so in October when I come to Penang for the winter.

So, please continue giving us a regular report of your trades, I will be most grateful.

 

Freddie.

[john225]

Were is the difference bettween Forex Day monster and Forex Profit Monster?

[Guest raw]

Were is the difference bettween Forex Day monster and Forex Profit Monster?

 

One for 4h and daily TF, one for lower TF..

 

Raw

[fx4_ever]

Hi fx4 and wanrayman, just found the thread and delighted to find that you are both making pips with this/these methods.

I am not trading live currently but will do so in October when I come to Penang for the winter.

So, please continue giving us a regular report of your trades, I will be most grateful.

 

Freddie.

 

I am making pips still... however, this system really eating my CPU power :(

wow..

[fx4_ever]

hi fx4_ever... sorry for the late reply.. just got back from vacation... havent post any trades yet.. looking forward to trade tmr... i usually just let the market hit my SL... because sometimes (lets say 55%) the buy sell pressure tends to give false signals... of course it does let get u out early.. but it also means that your probability of getting on a big move is also minimize... of course u save some pips.. but remember.. it also means u'll lose some...

 

i dont wanna give u advise like im a guru of FDM or something coz im not.. im just a normal trader who is like u.. im not an expert.. i dont have 10+ years of experience im just a simple man who believes i could make a living out of this and u dont even need fancy things to do it.. just rules and discipline.. what im trying to say is that u have to ask urself.. m i an aggressive trader.. if so.. let it hit the SL and enter on the new signal.. or am i a conservative trader.. who when i see one of the early warnings of a reversal i take out my position..

 

as i said before.. i have no other job.. i do this for a living.. i dont target big.. just 100+ USD per day.. so my best approach for now is be as aggressive as possible.. however.. my risk reward ratio is always 1:1.5 or 1:2.. never less... coz when u're an aggressive trader.. u tend to have this 'i have to win this' feeling all the time.. its impossible to overcome emotions.. nobody could do it.. so when u know u cant control it.. control your system thats the only option u have.. like i said.. no system is perfect i do have losses and i do have gains.. but what we want is consistency.. if you could make 20 or 30pips daily consistently for the next 2 weeks i believe u're already a great trader! (hope it make sense) :P hehehehe..

 

cenation! never give up!

 

Thanks for the information and reply. I do trade full time and making a living at it. So, we are in the same situation. It's always hard to control emotion.

I agree on getting out early. I did manually closed my positions when I see buy/sell power turns color, but I noticed it pays to stick with my original SL.

[Freddie]

I am making pips still... however, this system really eating my CPU power :( wow..

I read a post about taking off the support/resistance indi. Did you try that?

 

Freddie

[detrader]

The Daily Monster is for 5m - 4H time frames and the Profit Monster is for 4H but the creator trades it on the daily only. For exits I personally look at two things. I will either TP at the support and resistance which the author also mentions in the documentation or I will do it when 2 or 3 of the indicators change color but hardly ever when just one changes. Also when it comes to the support and resistance method I may also just move my stop to break even if things look like they make break out and continue the run.

[john225]

Is this system the same like ProFX or Lindencourt FX on trenddays it works perfect on sideway days your account gets killed ? ;-)