Yes, Im also going to read this topic right from the start.

is this sistem actually still profitable?

I have been trying it on jpy based pairs including the gbp/jpy and in almost two weeks I have already burned tree demo accounts each of 300 usd (im planing to start my live account with 300 usd thats why im training with that size account)

gpb/jpy is showing pointer and zig zag leg since friday I have waited for rsi, mfi, and qqe to confirm signal at 1 hr time frame but but i keep burning accounts , today I opened a new one and right now I have lost 141.80 -

I have read this thread till page 220 from the very begining of it, and the reason why I decided to try this method was because I saw taht big bear and fx11 released the system to the public for free and theres is a lot of ppl saying (at least till page 220) that they are actually profiting with the method so plz tell me what am I doing wrong or what else do u guys advice me to learn in order to close a good trade.

Thanks in advance

Senior members and other veteran forex traders, correct me if i'm wrong, but does opening a $300 dollar account appear to be a good idea to you?

If you are trading mini or micro lots then that would be ok, but hardly worth the effort. If you are trading standard lot sizes, then the potential drawdowns will almost certainly clean out your account.

You should probably wait until you have some more money saved before opening a live account, or trade using micro or mini lots (0.01, 0.1). Try using $2000 on a demo and check the results using standard lots. They should be better.

Also bear in mind that the GBPJPY carries quite a high spread (at least with Alpari-IDC anyway), so it is harder to get good returns if you enter a trade at the wrong time.

Alternatively, are you following the instructions for this method, step by step? If you are a new to forex, it is easy to dismiss seemingly either reprinted or miniscule details, when they may actually be crucial to the trade. Are you looking at all 3 TF's and matching the indicators to decide the best time to enter? This method prefers longer time frames... are you trading the correct time frames? This method may not suit your trading style if you are looking to make a quick in and out profit.

Lim

trading on 4 hr timeframe wating for mfi to be under 20 for long and above 80 for short, I must admit that I just recently started checking also the 1hr and 30m tfs. Maybe thats why I got so many false signals.

Right now im in this trade... according to the rules this sould be a good setup right? its on eur/usd

4hr chart

4hwf2.gif

1hr chart

1hxw3.gif

30m chart

30mgv4.gif

thanks in advance

Appears OK. What lot sizes are you trading?

I was thinking about risking just the 3% of the accoutn I have a demo accoutn with alpari right now, but in this trade when I saw the signals aligned in the 3 tfs I decided to go for a .10 lot

Hi,

I've edited your previous post. Next time please, upload the pictures to the forum. Thanks.

__________________

Elite Manual Trading | Portfolio | Calendar | Suggestions to improve the forum | My Blog

Remember: Signatures must have three lines as maximum

thanks... next time ill upload the pics.

looks like how i traded it. i opened with a micro account too but soon upgraded. the drawdown was unreal.

__________________
Wanna know how to trade? K.I.S.S.

Im sorry to say this, but forget this method. There are too much loosers and big DD.