fatsharkey
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Has anyone tried 1Minute Daily Forex system?
1Minute Daily Forex
- Thread starter fatsharkey
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Windowsill
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Not much to go on here!
oildaytrader
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sharky 1 , then sharky 2 ...now fat sharky
Windowsill
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fatsharkey
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ha ha ha... very funny people... I guess no one has tried it yet..
Just got a tweet for a review of this over at Systemsfortraders (http://www.systemsfortraders.com/forex-trading-systems/46807-review-1-minute-daily-set-time.html) admin, remove link if not allowed and apologies in advance if against the rules, and came looking for other reviews and not found much
Anyway, makes me consider purchase ! Appreciate any comments others who have used.
W
Anyway, makes me consider purchase ! Appreciate any comments others who have used.
W
Quote from website 'Tim started his career as a small investor and system developer for various broker companies and later turned a few thousand dollars into millions, within 3 years'.... and now he's selling indicators on the Internet for $86.
I mean honestly, can't you see this is just marketing rubbish?
I mean honestly, can't you see this is just marketing rubbish?
Agreed totally its marketing rubbish - And for sure if I had millions I would not waste my time peddling some system for $86 - I do try and ignore the marketing hype and also try and find people that have actually used these systems before buying thats what I am doing here. Yes, its got a money back guarantee but its more about wasted time and effort if it really is rubbish.
W
W
How constructive of you pboyles - FYI - I already make a profit each and every month from trading so before you comment you should first consider whom you are addressing and also their background or perhaps you are just lonely and bitter that you cannot trade !!!!
ps Courtesy and manners cost even less
ps Courtesy and manners cost even less
Ingot54
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I suggest you think again ... this is NOT a 1Min system ... it is a 1H breakout system, and extremely profitable ... I have it and it's magic ... but suit yourself
http://www.forexpeacearmy.com/public/review/www.1minutedaily.com
All the best
Ivan
systemsfortraders reported a 15.5% and 12.5% loss during July for the two pairs they trade - http://www.systemsfortraders.com/fo...view-1-minute-daily-set-time-3.html#post53545
Hope Tim didn't lose too many of his millions this month.
Agreed and for those that may wish to consider this system using more detailed reviews may find the enclosed link useful. Please note that the forum administrators are using he system straight out of the box with no adjustments. This reviewer has found it more profitable to trade each day and is achieving considerable success, together with the FPA contributors. Overall it is an extremely well thought out system, not only in terms of the trading system, but also the Money management which is crucial for compounding those long term profits. I am trading the system a live SB account and so far it is performing very well to date.
http://www.systemsfortraders.com/fo...view-1-minute-daily-set-time-3.html#post53545
Ingot54
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Re: 1Minute Daily Forex... UPDATE
Funny how things change depending on your perspective and mental approach.
http://www.systemsfortraders.com/forex-trading-systems/46807-review-1-minute-daily-set-time-4.html
The Review Team reported that indeed there can be less profitable periods, but they have posted a profit over the long term at post #33 on 1st August 2010.
My own experience with 1MD is probably similar - winning and losing days, but if you were wanting to fix-something-that-ain't-broke, you could look at trading fewer of the wide-range days of the Asian session, and focus on the more narrow-range days.
For those of you who have the system, you will note that narrow-range days means smaller profit targets, but stronger breakouts (generally). Consequently some research using different pairs will reveal some interesting stats.
I'm not going to post my findings here, because it is a work in progress, and very subjective really.
But I would like to alert owners to the fact that some pairs offer bigger rewards following narrow-range days in the Asian sessions. Some pairs also do NOT, so DYOR.
I think an approach that this is a long-term strat should be taken, and that traders should think twice about the 5% strategy. The draw-downs will cause trembly-knee-syndrome at 5%, but anything between 2% and 5% should be good.
I should tell the forum that while I do use the 1MD template on my charts, I use it in conjunction with another system that relies on breakouts during a similar TF. The "other" method gets you into breakouts about an hour earlier at times, and when the 1MD TF kicks in, I often switch to that to underline the validity of the moves.
And it is also noteworthy that the wide-range days offered great trading opportunities for my "other" breakout method ... just have a look at what price does on wide-range days, before breaking out ... the trends there (some of them) are clearly desirable.
Each to their own ... and this one floats my boat.
Best wishes
Ivan
Funny how things change depending on your perspective and mental approach.
http://www.systemsfortraders.com/forex-trading-systems/46807-review-1-minute-daily-set-time-4.html
The Review Team reported that indeed there can be less profitable periods, but they have posted a profit over the long term at post #33 on 1st August 2010.
My own experience with 1MD is probably similar - winning and losing days, but if you were wanting to fix-something-that-ain't-broke, you could look at trading fewer of the wide-range days of the Asian session, and focus on the more narrow-range days.
For those of you who have the system, you will note that narrow-range days means smaller profit targets, but stronger breakouts (generally). Consequently some research using different pairs will reveal some interesting stats.
I'm not going to post my findings here, because it is a work in progress, and very subjective really.
But I would like to alert owners to the fact that some pairs offer bigger rewards following narrow-range days in the Asian sessions. Some pairs also do NOT, so DYOR.
I think an approach that this is a long-term strat should be taken, and that traders should think twice about the 5% strategy. The draw-downs will cause trembly-knee-syndrome at 5%, but anything between 2% and 5% should be good.
I should tell the forum that while I do use the 1MD template on my charts, I use it in conjunction with another system that relies on breakouts during a similar TF. The "other" method gets you into breakouts about an hour earlier at times, and when the 1MD TF kicks in, I often switch to that to underline the validity of the moves.
And it is also noteworthy that the wide-range days offered great trading opportunities for my "other" breakout method ... just have a look at what price does on wide-range days, before breaking out ... the trends there (some of them) are clearly desirable.
Each to their own ... and this one floats my boat.
Best wishes
Ivan
Ivan - many thanks for your excellent feedback - what amazes me is that no one person on the other forum is achieving the same results - some are profitable - others not - yet all are using he same system. This leads me to believe that mental approach and the ability to let system do its thing and not interfere too much is key. This system, as you say, will have drawdowns, even at 2% risk per trade, well into double figures and it is crucial to be able to sit on your hands and let the system trade through these - very difficult when a system is relatively recent. The other forum manually back tested this from 2006 to 2010 allowing for an extra 5% slippage on entries and 5% on exits because they use a roll-over SB provider. They still found that over 4 years the return for the GBP was seven times the starting capital and for the USD/JPY over 5 times! Finally because this is such a simple system it raises suspicion - as so many scams try to persuade the investor that some sort of complex programmed EA is the only way to auto trade - usually to the detriment of the investors precious capital.
With all the recent hoopla around mechanical systems (FNT, FMT,BigBen,...), I wonder that nobody is using 1MinuteDaily anymore, especially as a description is available for free on babypips (thread author melodica) which seems to be a clone - or - ancestor version.
Regards
Hittfeld
Regards
Hittfeld
I am subscribed to both these threads, systems for traders have just updated their journal - http://www.systemsfortraders.com/tr...ute-daily-forex-trading-system.html#post56325 - 40% for usdjpy and a small loss for cable - notice they are still not in profit after 3 months.
