Forex Day Monster

[pardy]

OOps, just saw that the super adx already has email alert built in - will try and activate that!!

 

I'm using it on 4 pip renko, quite interesting. Going to add it on afew charts and monitor emails next week.

 

Thanks to all the contributors

 

Pardy

[fx4_ever]

i am curious

on what timeframe are u using Super ADX? Do you find its signals reliable?

 

Loopyno

 

Using it on 15 min since that is the TF that I am trading. I saw your post that you've mentioned Steve is your friend. Perhaps, he could give you more reliable way to use SuperADX than any of us here. To be honest, manual that came with the package isn't very clear.

 

Anyway, to respect "Texan" and many other contributors for this thread, we should focus with Forex Day Monster strategy and how we can use the system to get most of pips. This doesn't mean we can't talk about other supporting indicators we can use with FDM system, but I see more people talking about other indicators and less FDM.

[fx4_ever]

wanrayman, Can you share how do you determined to re-enter your trade? Example: YOu sometime take 2 entries on same pair. From what I gather, you may be adding your position or you close your first position and re-enter. Maybe both...

Would you explain your method? How and why? Thanks,

[alankw88]

Hi fx4_ever,

 

Do you use SuperADX just for exit? Do you use it for entry? Let say, FDM appears a green arrow. Do you check on SuperADX to confirm the red bar has appeared first?

 

By the way, I have found a similiar system called ProFX v2 (http://www.forexeasystems.com/forex_ea_softwares/profx/). Have you tried this?

 

Thanks for your advice.

Edited July 26, 2010 by alankw88

[fx4_ever]

Hi:

E/J trade. + 46 pips

http://i27.tinypic.com/poqbb.png

 

 

Hi fx4_ever,

 

Do you use SuperADX just for exit? Do you use it for entry? Let say, FDM appears a green arrow. Do you check on SuperADX to confirm the red bar has appeared first? Depends... see above chart. That is the chart that I took E/J trade today. This entry was given by FDM and all signal was lined up and I took the trade. This particular trade, I target support area (white dottied line) and as you see, shortly after entry, It reached the target.

Now, after I closed the trade, SuperADX showing that it is end of the trend. Now, if FDM gives signal to go long, I may consider to take the trade. But, I preferred to see SuperADX at the same time near my exit.

 

By the way, I have found a similiar system called ProFX v2 (http://www.forexeasystems.com/forex_ea_softwares/profx/). Have you tried this? No, I haven't. Have you try it long?

 

Thanks for your advice.

Edited July 26, 2010 by fx4_ever

[john225]

Nice Trade fx4_ever which pairs are you trading?

[fx4_ever]

Nice Trade fx4_ever which pairs are you trading?

I scan all majors + e/J (about 6-7 pairs). then, see which one signals first. Once I get the signal, I analyze if it is good trade for me to take or not. I do not take trade if it is signaling to go toward to S/R (white dots) if there's no room to move. I pass this kind of trade. Because if price move to S/R, it seems to bounced from there and sometime, ended up reversing.

 

alankw88, where I can find ProFX v2 ?

I only found v1 and not v2.

[john225]

ok thanks fx4_ever

 

In my eyes is the difference between the ProFX V1 and V2 that V1 colour is green and V2 colour is blue ;-)

[alankw88]

Yup, the different between v1 and v2 is only the email alert enabled in v2. The signal appears and logic is same as v1.

 

I'm testing 3 systems (FDM, Profx and Stealth) now. So far, I've noticed that Stealth system is giving early signal than FDM and Profx by 3 to 4 bars early. But, Stealth has more false signal compared the others two system.

[detrader]

I personally like both Stealth and FDM with stealth being my favorite. On the surface it may seem like there are many false signals with stealth but just like with FDM if you follow the rules and pay close attention to a divergence in the stealth signal and the stealth hyrbid indicator you will filter out many false signals. Also pay attention to volume like the instructions say and you will filter out even more bad trades. If you are using Stealth V3 with pivots you will filter out just about as many false signals as possible without going overboard. This of course doesnt mean you won't have losing trades but they will be manageable. I average about 2-3k pips a month between all the recomended pairs in the instructions. Also somewhere on this board is a copy of the ultimate stealth forex guide with is very useful.

 

PS: as a note I would rank Stealth and FDM as the better of the three systems. I have trades stelath the longest for over a year with Pro & FDM coming in at about 6 months

[alankw88]

Hi detrader,

 

Would you mind to share which timeframe you trade by using Stealth? I'm using M30 for all 3 systems.

[fx4_ever]

I personally like both Stealth and FDM with stealth being my favorite. On the surface it may seem like there are many false signals with stealth but just like with FDM if you follow the rules and pay close attention to a divergence in the stealth signal and the stealth hyrbid indicator you will filter out many false signals. Also pay attention to volume like the instructions say and you will filter out even more bad trades. If you are using Stealth V3 with pivots you will filter out just about as many false signals as possible without going overboard. This of course doesnt mean you won't have losing trades but they will be manageable. I average about 2-3k pips a month between all the recomended pairs in the instructions. Also somewhere on this board is a copy of the ultimate stealth forex guide with is very useful.

 

PS: as a note I would rank Stealth and FDM as the better of the three systems. I have trades stelath the longest for over a year with Pro & FDM coming in at about 6 months

 

Thanks for the detail post. It really is helpful information indeed! I shall look into Stealth system.. :)

[fx4_ever]

So far, I can't find any good setup on FDM today. Very choppy signals on all pairs...

[vicqua]

Yeah quite tru but i got one on the GPBUSD today for about 20 pips, confirming it with Stealth FOrex, it is almost similar to Forex Monster but I think it gives us a little earlier in signal.. maybe somone wants to confirm it

[fx4_ever]

Yeah quite tru but i got one on the GPBUSD today for about 20 pips, confirming it with Stealth FOrex, it is almost similar to Forex Monster but I think it gives us a little earlier in signal.. maybe somone wants to confirm it

 

Yeah, exactly. I placed an order G/U and it reached about 20 pips positive and reversed right after GBP news. This shows I should have closed before the news and while I was in positive :( Lesson learned! I ended up closing with Breakeven (actually, I closed at loss due to the slippage). I reversed the order, but just few pips after, it stalled. I have to run out and can't monitor the trade, so I closed the trade and ended up today with +1 pip. yahooooooo!!! LOL. Well, always tomorrow, right?

[john225]

fx4_ever did you entered with the FDM because i haven´t got an entry signal before the news came out ;-)

[detrader]

Hi detrader,

 

Would you mind to share which timeframe you trade by using Stealth? I'm using M30 for all 3 systems.

 

While I do believe the Stealth system has one way to trade the 30m time frame the main system is built around the 15m time frame which is what I trade it on. I do remember looking at the 30m charts with it and found it was less profitable but I can't seem to find my notes as to why that was the case. I believe I started with FDM because I was looking for something to trade on the 1H and 30m time frames and found that I liked it for both of those. I am also looking at another system on the 30m that I picked up form ebay a while back but I havent had the time to watch the charts with it like I have with other systems

[fx4_ever]

I personally like both Stealth and FDM with stealth being my favorite. On the surface it may seem like there are many false signals with stealth but just like with FDM if you follow the rules and pay close attention to a divergence in the stealth signal and the stealth hyrbid indicator you will filter out many false signals. Also pay attention to volume like the instructions say and you will filter out even more bad trades. If you are using Stealth V3 with pivots you will filter out just about as many false signals as possible without going overboard. This of course doesnt mean you won't have losing trades but they will be manageable. I average about 2-3k pips a month between all the recomended pairs in the instructions. Also somewhere on this board is a copy of the ultimate stealth forex guide with is very useful.

 

PS: as a note I would rank Stealth and FDM as the better of the three systems. I have trades stelath the longest for over a year with Pro & FDM coming in at about 6 months

 

Hi detrader:

I forgot to ask you a couple of questions. What do you mean Stealth v3 with pivot? I found this system from here (indo-investasi) and it shows v10 on some of the indicators. I just want to make sure I am testing the same system.

Also, do you follow instruction to the "T" or do you add some of your own modification to achieve those nice pips? Would you share how your normal trading for the day like? Thanks,

[fx4_ever]

fx4_ever did you entered with the FDM because i haven´t got an entry signal before the news came out ;-)

 

http://i25.tinypic.com/k1vs54.png

[detrader]

Hi detrader:

I forgot to ask you a couple of questions. What do you mean Stealth v3 with pivot? I found this system from here (indo-investasi) and it shows v10 on some of the indicators. I just want to make sure I am testing the same system.

Also, do you follow instruction to the "T" or do you add some of your own modification to achieve those nice pips? Would you share how your normal trading for the day like? Thanks,

 

I v10 is not the newest release but it is close. v10.3 is the most current release of Stealth but I am not sure if it is available here or one of the other boards or not. I pretty much stick to the rules 100% and the only change I made was to use a large mt4 brokers so I get a better picture of the true trading volume (MB Trading is my MT4 broker of choice for this). Other than that I stick to rules along with using some of the info found in the ultimate stealth forex guide that can be found on here. My days all vary depending on what I have to do that day but I try to trade both the Londond & US sessions and stop trading after about 3pm EST. If I know a day is going to be busy I may skip it all together and just use FDM on the 30m or 1H charts so my screen time is reduced.

[pardy]

I v10 is not the newest release but it is close. v10.3 is the most current release of Stealth but I am not sure if it is available here or one of the other boards or not. I pretty much stick to the rules 100% and the only change I made was to use a large mt4 brokers so I get a better picture of the true trading volume (MB Trading is my MT4 broker of choice for this). Other than that I stick to rules along with using some of the info found in the ultimate stealth forex guide that can be found on here. My days all vary depending on what I have to do that day but I try to trade both the Londond & US sessions and stop trading after about 3pm EST. If I know a day is going to be busy I may skip it all together and just use FDM on the 30m or 1H charts so my screen time is reduced.

 

detrader,

 

thanks for the explanation. Do you use trend bias from a higher tf? Or from the use of the pivots as per the system. If so, do you trade only trend/bias trades or will you also take "counter trend" trades. In other words if the pivot bias is long say, but the 1 hr trend is going short, would you trade short? Just asking you the last one to make sure, I know you've said you trade only by the rules.

Many thanks

Edited July 27, 2010 by pardy

[detrader]

I don't know how else to explain it, I trade it exactly by the rules set in the system other than using a specific broker that gives me a better idea of trading volume for the period. I dont use any extra indicators or multiple time frames or any of that, I honestly don't believe in using multiple time frames because I can't predict when the trend on the 4H time frame is going to change. This allows me to focus on what the market is presenting me with on the time frame I trade.

 

PS: version 10.3 of stealth has slightly different rules because of their inclusion of a pivot point indicator. I am sure it just a rehash of those freely available but I can't be sure.

 

PPS: Also if you all want to discuss stealth in depth I suggest maybe a different thread so this one doesn't get hijacked and they can refocus on FDM.

[fx4_ever]

I v10 is not the newest release but it is close. v10.3 is the most current release of Stealth but I am not sure if it is available here or one of the other boards or not. I pretty much stick to the rules 100% and the only change I made was to use a large mt4 brokers so I get a better picture of the true trading volume (MB Trading is my MT4 broker of choice for this). Other than that I stick to rules along with using some of the info found in the ultimate stealth forex guide that can be found on here. My days all vary depending on what I have to do that day but I try to trade both the Londond & US sessions and stop trading after about 3pm EST. If I know a day is going to be busy I may skip it all together and just use FDM on the 30m or 1H charts so my screen time is reduced.

Thanks! Appreciate the info. I got it. It's all same except there is 1 additional indicator: Stealth_Pivot_ v10.3. It looks as any Pivot Point Indicator will do the job. :)

Edited July 27, 2010 by fx4_ever

[fx4_ever]

I don't know how else to explain it, I trade it exactly by the rules set in the system other than using a specific broker that gives me a better idea of trading volume for the period. I dont use any extra indicators or multiple time frames or any of that, I honestly don't believe in using multiple time frames because I can't predict when the trend on the 4H time frame is going to change. This allows me to focus on what the market is presenting me with on the time frame I trade.

 

PS: version 10.3 of stealth has slightly different rules because of their inclusion of a pivot point indicator. I am sure it just a rehash of those freely available but I can't be sure.

 

PPS: Also if you all want to discuss stealth in depth I suggest maybe a different thread so this one doesn't get hijacked and they can refocus on FDM.

I agree. this thread should remain focus on FDM. However, I would like to learn more about other profitable system and Stealth interest me. Because unlike other trading system, Stealth has precise entry/exit rules and R/R ratio is far better than most systems. So, if you would lead the thread under 'Stealth Trading method', I will participate. If you could do that, I am sure many of trader here would be thanking you for it. Let us know the link if you decide to start the thread. Thanks,

[fx4_ever]

I didn't trade except early this morning and ended up just breakeven. When I got home and check the chart, FDM would have net very nicely if I had trade today. I hope some of you kept some nice pips from FDM system.