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Quick Fix Forex


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So this just looks like a rip-off of the BlackDog system. Let's see...50EMA high and low channel...Check....15MA....Check....Custom MACD....Check....Don't trade in the channel....Check...Only trade in the direction of the MACD....Check....Wait for a pull-back to the 15MA before entering....Check....Yup, seems pretty damn similar to me!
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So this just looks like a rip-off of the BlackDog system. Let's see...50EMA high and low channel...Check....15MA....Check....Custom MACD....Check....Don't trade in the channel....Check...Only trade in the direction of the MACD....Check....Wait for a pull-back to the 15MA before entering....Check....Yup, seems pretty damn similar to me!

 

 

C'mon .. I think you're just quibbling ... don't be

so hasty to judge ... please try to be fair ... LOL ... LOL ...

 

:)

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@Red_Bull

 

you are welcome ...alot of great systems have been shared here...but most of them didn't got the chance to really tested and tweaked ....

 

So very true deadsoul, in fact I suspect that by the way Red Bull has been bumping every thread going that he's just collecting systems and not really using any of them lol.

 

I've done the same I admit it. My hard disk is stacked with loads of systems (mostly rubbish ones). It takes some effort and discipline to take a system and trade it by itself for a week or two using the system rules only.

 

I think the main problem is that to test a system properly, you need to be trading actively in the main sessions. Most folks here, judging by the way everyone is infatuated with EAs, have a "day job" and are not trading full-time, so are unable to test these systems properly. Likewise any traders who are trading full-time are unlikely to want to give up 1 or 2 weeks of income earning potential to test a system in demo, which will probably turn out to be a disappointment.

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Hey thanks SoundFX, I know I test about 3/4 manual systems a week - maybe I don't give them enough time also... At the moment I'm testing Forex Profit/Pip Taker, Master Method, Ratis (Malaysian) and Secret Weapon. I know you often give great tips and advice and I respect your opinion, which system do you prefer out of the ones stacked on your hard drive? I know it's all about 'personal trading style' but i really need to find one system that I can 'hang my hat' on for the bulk of my trading-can u help! :)
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Hey thanks SoundFX, I know I test about 3/4 manual systems a week - maybe I don't give them enough time also... At the moment I'm testing Forex Profit/Pip Taker, Master Method, Ratis (Malaysian) and Secret Weapon. I know you often give great tips and advice and I respect your opinion, which system do you prefer out of the ones stacked on your hard drive? I know it's all about 'personal trading style' but i really need to find one system that I can 'hang my hat' on for the bulk of my trading-can u help! :)

 

 

I am testing the Black Dog Mini Trend Finder system live this next week. It is the system I think that the "Quik Fix" copied/stole from, although I prefer Mini Trend Finder. Mini Trend Finder makes sense to me and seems like it will be quite profitable. Has already been shared on this forum. If it works out as planned, it may well become my primary day trading system. Feedback from anyone who has tried the Mini Trend Finder would be appreciated.

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Hi Neil,

 

It would be handy for others if you posted your test results or opinions on the systems you're testing - start a thread called "Neil's test lab" or something like that :)

 

From what I've seen of manual systems they fall into 3 main camps:

 

1) Trending System

2) Ranging System

3) Breakout System

 

All have their faults - trending systems don't work in ranging markets and vice-versa and breakout systems are prone to trading false breakouts.

 

Each system type can be subdivided into:

 

1) Conventional (typically MA's for trending systems, BB's/Stochs/CCI etc. for ranging systems)

2) Novel (stacks of fancy indicators which you can't understand how they work unless you analyse the code).

 

"100 Pips before breakfast" is a good sensible ebook which explains how to trade trending markets effectively.

 

"Easy FTSE Trading System" is another good ebook which explains how to trade ranging markets effectively. It's geared for the UK spread betting markets and for the FTSE, however applies equally to MT4 trading and Forex.

 

"1 Minute Daily" (currently on the blacklist I think) is probably the best "set and forget" Asian range breakout system I've seen - though you have to adapt a long term view with these sort of "set and forget" systems. "Forex Child's Play" works well for more active traders.

 

There's no one system which fits all conditions - otherwise, that would essentially be a "holy grail". The route to becoming a consistently profitable trader is taking bits of each system which you personally are most comfortable using and then you need to put in lots of screen time so that you intuitively know the best time to bring out a particular tool from your trading toolkit.

 

For example, I don't like using MA crosses to trigger entries into trends - I've had many bad experiences with them in ranging markets, so can never trust them. Instead, I look at candle patterns in larger timeframes, where price is obviously moving in the timeframe I'm trading and take note of HH or LL breaks and where support and resistance levels are. If price is trending up and breaks a recent swing high but there is strong resistance a few pips away - then now's not the time to go long, wait for a bounce off resistance and then enter when price starts moving up again. You can either take a few pips with the trend back to resistance or hang on for a larger move, given your better entry point.

 

When the market is obviously ranging - i.e. you look at your chart and the bollinger bands are quite wide and essentially horizontal, then that's the time to look at trading BB extremes. If these extremes coincide with S/R levels then all the better - you have a higher probability trade which can be taken back to the middle band and often from one extreme band to the other.

 

You're right about trading style, and that's what makes it so tricky for us to just trade someone else's system as successfully as they do. Trading shouldn't be a chore or we're not in the right frame of mind - so if systems/methods are too complex, too "black box", too unpredictable etc. for you personally then don't attempt to use them.

 

Finding our "niche" in trading doesn't mean finding a system which works perfectly for us - I think we need a learn a range of methods which can be brought out at the right times depending on market conditions.

 

Trying to trade 1-2-3 setups will pay big dividends in trending markets but will kill you in ranging markets. Taking every MA cross will give you some huge winners (if you can avoid taking winners too early) and then you'll hit a period of possibly weeks where every trade will fail. Knowing how to trade the market on your chart right now I believe is something which can only come naturally after you've put in the requisite "screen time".

 

All I've mentioned so far has been concerned with entries - which despite what some others may say are important. A good entry can give you easy pips and a bad entry can get you stopped out. Money management is important, however a good entry with good money management is still better then a bad entry with good money management.

Edited by soundfx
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