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(Req) F0rex Renew@l


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surya search the thread. it's already been shared..

 

the pics are a big help guys...keep posting them.

 

Hermanhess did the 1 loss wipe out your 2 wins? as the problem i see with this is the SL is often 3x bigger then the TP.

 

yes kraven indeed it did, my loss wiped out exactly 2 gains so overall b/e. The creator claims something like 18 losses over a 1000 or so trades, if that's true then it would be all right I suppose. I need to test for at least 30 trades before i can come to some conclusion.

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Closed my GBPUSD long for 16pips. Didnt hit 20pips. Closed it because i dont like the slow price action.

Anyway its a good London Session trade for GBPUSD for Forex Renewal Strategy.

 

For me the GU had a good set-up long.....went about 90pips before reversing and 20+ to 60ma......if i can i'll post a pic later.

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Forexpro , i use this strategy without incorporating the moving averages. I just use the eagle line and control candle channel. I prefer it that way.

 

I didnt take the NY session trade because the candle after the control candle was too huge. So i just stay out.

keep my profits and buy myself a beer.

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Here's that pic.......G/U this morning, london open

 

http://i988.photobucket.com/albums/af5/kraven69/x1.gif

 

7:45 candle approx 12pips

signal candle at 8:30 (yellow arrow under it-not touching control candle open/close lines)

entry candle at 8:45 (it pulledback....which i think is good....and then went past signal candle close by a couple of pips.......then entry)

the 60ma had 30pips of room

this actual run went up as high as 90pips

 

also note the 8:00am candle was 1pips (open to close) followed by a 3pip candle (open/close).......isn't there some rule about buying in the direction of the 1pip candle when this happens???? in this case it would have been the same direction, but entry would have been about 10pips earlier.

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i missed a few sessions but yes its going ok however i have had three losses in total, it definitely needs some discretion, if he's had over 500 winners in a row he's been lucky as well as relied on his trading experience since 1969.

 

IMHO starting out and strictly following the rules will not replicate his results, thats not to say given enough time and experience with the system we won't be able to achieve similar results. Time will tell I suppose.

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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.

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