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This entry was already good for a quick 10-15 pips. In this instance a trend is established short intraday so it is much higher risk trade. Actually, taking 10-15 pips is a good thing as a scalping trade, however if you really were going for a target, it would be 1.7983 where the resistance of the trendline is. Of course, this trade is marked on the signal and so the entry is on the open of the NEXT candle.
The two candles which are similar closes before the marker indicate a strong move may be about to happen.
I tried this system with your 2,2,2,2 CCI settings. It's a coin toss at best. The indicator repaints so bad it really is hard to find a reliable signal.
If you are a useless trader so faryou will take the false signals. So far I have made only 2 false entries and when I did I used 1/10 of the normal number of lots as it was obvious stupid risk to rely on a group of squares to trade. You do need to be a good trader to trade FX using ANY method on this forum. I am sorry to be blunt, but you need to be a trader to to make money in forex. If you had any money or success, you won't complain but will try to build on what we've got.
The above example took you to 1.7990 which exceeds the suggested upside target of 1.7983.
The below signal was almost a stop out. But it is not a stop out according to current rules, but if you know anything about FX would not have taken the short here. Despite that, it may be a profitable trade if you don't mind going about 25 pips in to loss before seeing a profit. Personally I did not take this trade.
These are the entries and exits signalled with reasoning. I took some of these. I am about 30 pips today from this system alone live. The potential as you can see is much higher. Trade well.
RE: above post - tossing a coin - sure that is forex for you though. May be you will do better tossing a coin. Test and see. For now I prefer to test this because it's showing potential every day.
All you need so is think "potential trade in this direction" when you get all four squares signalling a long/short entry on the close and take it from there. I have about 4 x 5 minute charts each with a different story. Also Daily, H8, H4, H2, H1, M30, M15 info. Plus independent instigation, research from 3 providers. So by no means am I relying on this alone but some - the positive, and experienced traders - have seen some potential here already I'm sure.
Let's get the definition of "repainting" please. For me it means the dots reset and change IN THE PAST after the event. I'm NOT seeing that so far unless I reset my chart by restarting and even then I'm unsure as to whether it is repainting.
Right now it is a no signal game as GBP has seemed to be bottoming out for more than 1 hour so either you trade long at the low or sit on the sidelines for a while having taken out your pips.
Entries are solid lines. Exits are dotted lines.
First exit (short): Inverted hammer - reversal signal
Second exit (short) - reverse after a big blow-off sell candle. take profit and run.
Third exit (long) - exit on trendline test - actually this wasn't a long signal, but if you wanted to trade the reversal.
Fourth exit (short) - exit on two closes at same price indicating big move after exhausted trend - see the green rectangle
Fifth exit (short) - NOTICE IT IS A TRIANGLE WITH BREAKOUT FORMING. CAN ENTER 3 CANDLES LATER TO PULL PROFIT FROM NEXT CANDLE DOWN TO SUPPORT (purple rectangle). Exit on close of candle if you have sanity.
Sixth entry is a long - no exit signalled but you can take out 10-15 pips a time. If the double bottom is valid then 1.7980 - 1.8000 and beyond are on but there is resistance topside now anyway.
THE NAVY BLUE is an obvious no entry signal. It's test of support right at the end of a big sell candle on the triangle break and at the same time there is no build up to a trending market in the downside as we've already bottomed at exit (4)...
Pip counts on marked trades:
15
91
51
35
40
26
Total - 258 for the UK morning less spreads (6x4) = 24 ---- >>> 234 (potential).
This seems outrageous but I don't see why 100 can't be taken out of those 234 including a couple of losses, exits that aren't spot on. Anyone having success so far?
Actually that means you are a useless trader so far. You do need to be a good trader to trade FX using ANY method on this forum. I am sorry to be blunt, but you need to be a trader to to make money in forex. If you had any money or success, you would not be flaming the thread.
The above example took you to 1.7990 which exceeds the suggested upside target of 1.7983.
The below signal was almost a stop out. But it is not a stop out according to current rules, but if you know anything about FX would not have taken the short here. Despite that, it may be a profitable trade if you don't mind going about 25 pips in to loss before seeing a profit.
Target: 1.7900 for 10 pips only.
Where did I say I made any trades using this system? You just assumed I made that trade? The freedom indicator repaints very badly, anyone taking a signal off that is completely ignorant. Ask any RESPECTED member of this forum would tell you that. I have a LIVE account, MY REAL MONEY, that's in the PROFIT. Show me this system works using your own REAL money and I'll apologize. Don't ever accuse me of being useless. I trade for a LIVING. Unlike yourself who is boasting about a indicator that is about impressive as my left foot.
"Don't get too excited...
However, what I don't know is if it has reset/repainted or whether these were the true signals.
May be worth forward testing if only for a day to see if there is anything in it. To see who coded this indicator, someone may comment on this thread or look inside the mq4 attached."
You posted a system before you knew if it repainted? I can show you systems that make 500 pips a day.........but they repaint. You think forward testing for a day is going to prove anything? Well done!! Just so you know, your thread is so useful.............it got a 1 star rating!!!
You haven't made a trade using this indicator at the specified settings and yet you are the expert on it already being able to tell anyone and everyone who could benefit from using this indicator that it's as good as tossing a coin. Brilliant work Einstein.
we are also following the freedombars from long time ago. we fixed it wit rainbow lines together and rsi. we enter on the starting of the 2nd bar(all red on 4 timeframes). it's true, it repaints and used alone it can hurt you much but we're following it on 8 currencies and good signals. the only thing is that one should save the chart everytime takes a trade and not at the end of the day. good luck
__________________ www.masterssystem.com a group of professional intraday traders. join our 80% winning system and chat
Last edited by masterssystem; 09-19-2008 at 11:48 AM.
You haven't made a trade using this indicator at the specified settings and yet you are the expert on it already being able to tell anyone and everyone who could benefit from using this indicator that it's as good as tossing a coin. Brilliant work Einstein.
Your right, I know nothing. That 1 star rating says it all. Why don't you and me compare Real Money Accounts? Probably because you don't have one.
If you were a pro you would not be getting worked up on a forum and asking ridiculous questions. Do you think I'd ever disclose my accounts and my investors money to some idiot on a forum who just wants to flame on a thread? Not on your life! Based on 2 votes (one of them yours) the thread is 1 star. Says it all doesn't it. Significant data there - a real pro obviously.
Masterssystem - may I ask what settings you are using for this indicator and what timeframes? Or is that a private matter? You're entry signal is the same as mine, but I take the blue as a long signal - is that also true of what you and your people are doing?
Linear Mode
