40-100 pips aday trading system

[trendie]

had some spare time:
I see what TheBramble was saying with regards to Stochs over/under 80/20 hooks can be messy. however, a couple of times, it picks the top/bottom.
worth further evaluation?

EDIT: the times are between 9:00 and 20:00 because my data-provider times are 2 hours ahead. they equate to 7:00am to 18:00.

EDIT2: even though I would have taken the 80/20 hooks myself.

 

[shadowninja]

I am not sure you understand how it works. If I am correct, you're highlighting the wrong points to open a position.

eg for http://www.trade2win.com/boards/attachment.php?attachmentid=28945&d=1186907296

I would have opened a position at 1430 as it indicates a climb based on the OP's instructions.

 

[hornblower]

I am not sure you understand how it works. If I am correct, you're highlighting the wrong points to open a position.

eg for http://www.trade2win.com/boards/attachment.php?attachmentid=28945&d=1186907296

I would have opened a position at 1430 as it indicates a climb based on the OP's instructions.

If you are going to short , you try to enter on the green up bar to maximise your profit

If you are going long, you buy on the first pul back, (red bar )

 

[trendie]

I am not sure you understand how it works. If I am correct, you're highlighting the wrong points to open a position.

eg for http://www.trade2win.com/boards/attachment.php?attachmentid=28945&d=1186907296

I would have opened a position at 1430 as it indicates a climb based on the OP's instructions.

If you are going to short , you try to enter on the green up bar to maximise your profit

If you are going long, you buy on the first pul back, (red bar )

sorry if I have created any confusion.
shadowninja: I was just showing the IB bars, and the position of the stochs.
I wasnt suggesting the highlighted bars were signals, as the deal is you wait for bar to break by 2 pips.
what you seem to be saying is the IB is a "ready", the "stochs" a "steady", and when the price exceeds the IB by 2 pips its a "go"??

hornblower: I like that idea, but you dont know whether the green/red bar is the only bar that is going to form; it could be start of a sequence of several green/red bars.
but, in principle, I agree the pullback is a good method.

hope you all have a good week. hope its as rampant as it was last week. and as sunny.

 

[JTrader]

1st thing I have noticed is that running the same chart with 2 different sb's highlights the first problem.

It is; to enter within a pip or two of an IB and a signal from the stoch.
The sb's I used were cmc and IG and where one chart would form a IB, the other chart would not. So dependent on who you used, you would either be in the trade or not. This is short time frame stuff I must add. Sub 10 mins. Seeing as 15 mins is the proposed time frame it may work differently.

This does expose a BIG problem.

Even if you use oandas charts, what difference does that make, seen as there is no central price?

Why is the inside bar so significant?

I suspect the "inside" bar is NOT very significant, and is more of a gimmick.

There is still a lot of confusion as to how this system wortks james. Why not post some quality clear screenshot examples of winning and losing trades, with entry, exit and stop-loss placements clearly marked?

Is the reason you do not post the screenshots bwecause you want detail & understanding to be as vague as possible, so that more people subscribe the $59 to your skype chatroom?

Its all still far too sketchy, though perhaps you like it this way so that people join you on skype.

 

[JTrader]

Low on specific details = into the "sketchy box" = FAR from a simple system

Hi there jim here

I would like to share the most simple and rewarding system with you it requries no indcators only stocastics.

Nothing else to genarate the above pips every day please try it out if you like it i trade live this system every day 7.00 - 5.00 mon to friday were you can trade live with me but first try it out on demo.


IB SYSTEM


This system is very simple and requires only one indicator Please don’t add any other indicator's it will potentially affect the performance of this system. But numerous other factors need to be considered on a discretionary basis = sketchy!

This system requires patience and time to learn it.


The system works in anytime frame and with any pair

The Indicator you need is Slow Stochastic setting 6.3.3 some platforms will only allow 6.3 that’s ok.

Next the key element of the system contained in all trades is the INSIDE BAR or inside day as some like to call it.

An inside bar or IB is simply when the current bar is less than or equal to the bar to the left of it. The inside bar can also be the same size as the previous bar.


THE INSIDE BAR is a standard technical analysis pattern; however most people over look it. You can also use an outside bar or OB which is the opposite. Why don't you explain/mention the use of an OB again in these rules? = again, sketchy!


The INSIDE BAR is a Powerful Set up!


HOW TO TRADE THE IB

First look for an IB to form then check if it’s a valid IB with the stochastic indicator set up.




STOCASTIC INDICATOR SET UP

when stochastic are below or around the 20 and oversold and starting to hook round look for an IB to go long, When stochastic are up to 80 and above and starting to hook round in overbought look for an IB to go short you will find them the best in trending markets also range bound markets but if the price action is choppy stay out.

The Stochastic don't have to be exactly 80-20 but it is stronger signal if they are. Sometimes as an example they may at 35 as long as they start to turn and hook up and an IB forms it’s a possible valid trade.




To enter a trade wait for the next bar after the IB to go up 2 pips higher than the IB for a buy signal or 2 pips lower for a sell signal.
Also the shadow of the IB must be inside the prior bar as well in the overall size otherwise it’s not a valid signal.



If after the IB formed you get another bar the same size as the IB and it doesn’t go 1-2 pips either way then you may look at up to 3 -4 more bars after the IB bar to confirm a signal and enter a trade. If you don’t get a signal stand a side and wait for a new IB to form.



STOPS & EXITS

For stops and exits you can trail a stop at the bottom of the prior bar to the IB by 2 pips if you’re more Aggressive 2 bars below the prior bar to the IB.

Exit when stochastic cross in the opposite direction but becarefull when going long as when stochastic hits 80 it can hang around a while first before carrying on up or just staying flat in a strong up trend so wait for a hook down and heading under the 80 level or a reversal candle to exit.

Again, a very sketchy description of exits .

Also to exit look for the big numbers if you were trading GBP/USD for example look for the market to turn around at 1, 9000 / 1, 9020 /1, 9050 / 1, 9080

Try not to enter trades around the big numbers wait for price to go through and retrace to the support or resistance then look for an IB to form and take the trade.
Does the stochasitc still need to be around 20 or 80? If you have waited for price to move up or down through the "big numbers", the stochastic value is also likely to have moved on up or down .

I look at a 1 hour chart first and see what the over all trend for the day is going to be then trade off a 15 min chart for the day.
In what way specifically do you use the 60m chart to decide upon 15m entries? again = sketchy!

One of the benefits of this System is it can get you into trades early before the crowd.
How & Why does it get you in earlier than if trading a stochastic hook above 20/below 80, without any use of an IB?



Thanks

Jim

Jim

Please see my blue inserted comments/questions.

Also -

from the above, and inparticular the sections i've highlighted, we can see that this "system" is far from being "the most simple.......system", by anyones definition of the word simple.
IMO a simple system, or a system that obeys KISS, Keep It Simple Stupid, is one where you know exactly what you need to do at any given point.

Your system includes such scope for discretionary decision making -
1. use the 15m but with reference to the 60m.
2. Don't enter in price action is choppy.
3. Enter/exit avoiding/b4/after the big 00/50 etc. numbers.
4. Exit on cross above the oposite 20/80 stochastic level, but when exactly?

I'm not being funny with you just for the sake of it Jim, but you have posted something with big claims that has created interest and is thus occupying people time & attention.

If you are going to occupy people time & attention in this way, IMO, the topic has to have credible substance, otherwise you're wasting peoples valuable time.
So far, from what you have posted here or in the BBP's thread, i see little credibility or substance, backed up with solid examples .
Sorry if that sounds harsh , but this is my true opinion, & so far, i've gained little from following this/these thread/s. This thread has really sketched me out. Therefore this "simple system" has to remain in my sketchy box, for now.

Thanks a lot.

 

[fibonelli]

Hi Jim,

Nice idea combining a specific candle/bar formation with stochs.

Are you able to code a backtest across a small range of timeframes and instruments so that we could see what happened in the past?

Thank you

Fibonelli

 

[JTrader]

sketchyness leads to skepticism

Jim, the silence is deafening.

I am skeptical about your reason for posting your (sketchy) free system. The skeptic in me says that your OP was possibly intended -

A) To draw attention to the BBP website.
B) To suck payers into your skype chatroom in search of a clearer explanation, by creating confusion due to the sketchyness of the explanation offered for free.

Go on Jim, make my day, prove me wrong, and post some solid clear-cut screenshots of winning and losing trades, with inserted text explantions of them.
Otherwise do us all a favour, stop wasting our time, and stop posing as little helpful red riding hood, if you're really the big bad wolf!

Again, my apologies if i have misinterpretted things, this is just my theory based on the available evidence. As i can't see how the $59 skype fees will make you rich any time soon, unless you pull 100 in at a time that is.

While-ever things are this skechy, i'll remain a skeptic.


PS. I've actually lost interest in this system idea, as it is plain to see (to me) that it isn't so strong.

 

[jim123]

Jim, the silence is deafening.

I am skeptical about your reason for posting your (sketchy) free system. The skeptic in me says that your OP was possibly intended -

A) To draw attention to the BBP website.
B) To suck payers into your skype chatroom in search of a clearer explanation, by creating confusion due to the sketchyness of the explanation offered for free.

Go on Jim, make my day, prove me wrong, and post some solid clear-cut screenshots of winning and losing trades, with inserted text explantions of them.
Otherwise do us all a favour, stop wasting our time, and stop posing as little helpful red riding hood, if you're really the big bad wolf!

Again, my apologies if i have misinterpretted things, this is just my theory based on the available evidence. As i can't see how the $59 skype fees will make you rich any time soon, unless you pull 100 in at a time that is.

While-ever things are this skechy, i'll remain a skeptic.


PS. I've actually lost interest in this system idea, as it is plain to see (to me) that it isn't so strong.

If you would have taken the time to go to baby pips an ask any one of the people using the Free system on thet hread you will see lots of people making money . and yes my darwing and scetches are not good iam good at trading not computers and yes a charge a very small fee one off for giving my time 10 hrs aday 5 days a week helping others to trade better and yes your right you are a very skepical person but at least take the time to find out before you condem.and you are right it wont make me rich thats why i charge what i do i dont do it for the money i trade to make money if you dont understand the system fine go to babypips read it 10 times take a demo practice you dont have to trade live people are weclome to trade free for then selfs.

Some people are never happy


best regards
JIM

PS IF YOU HAVE LOST INTREST STOP MOANING GET ON WITH YOUR OWN SYSTEM

 

[TheBramble]

Jim, regardless of any issues you may have with JTrader’s manner, you haven’t bothered to respond to any of the queries I and any other trader here has asked which doesn’t bode well for your credentials.

Forgetting my queries, as I suspect most of us already have the answer anyway based on your lack of direct response, the screenshot you posted is bogus – it does not illustrate your stated system’s principles in either entry or exit.

The entry point you indicate is lower than the previous bar. OK so far, 1-2 pips lower [btw which is it – 1 or 2?], but the previous bar was not a Inside Bar and the stochs had only just about begun to flatten at that point – no hook had formed. Your stated exit is “…when stochastic cross in the opposite direction…”. A little ambiguous – do you mean when they cross each other or when they cross the opposite 80/20 line to that which the signal was given? In either interpretation, your exit would have been much sooner (at either 2.0265 at 08:30 or 2.0260 at 10:00) rather than the absolute bottom you indicate on your chart.

To the casual observer you seem to have picked the top and the bottom of a decent move, when in essence your system picked neither. I say this not to discredit you, but to urge others, particularly newer and/or more gullible traders to undertake a more careful analysis of the system you are proposing and what you have illustrated – and to wonder at the gap between them.

If others are making money using your system, you must have cleaned up the entry and exit criteria considerably to those you have presented here.

 

[JTrader]

If you would have taken the time to go to baby pips an ask any one of the people using the Free system on thet hread you will see lots of people making money . and yes my darwing and scetches are not good iam good at trading not computers and yes a charge a very small fee one off for giving my time 10 hrs aday 5 days a week helping others to trade better and yes your right you are a very skepical person but at least take the time to find out before you condem.and you are right it wont make me rich thats why i charge what i do i dont do it for the money i trade to make money if you dont understand the system fine go to babypips read it 10 times take a demo practice you dont have to trade live people are weclome to trade free for then selfs.

Some people are never happy


best regards
JIM

PS IF YOU HAVE LOST INTREST STOP MOANING GET ON WITH YOUR OWN SYSTEM

Apologies if i have been short manored with you jim, i do get slightly inpatient sometimes and choose to cut to the chase.........and therefore my posts can sound a bit short, but i just hate wasting time........

Have you thought of it this way -

If you had gone to the trouble to post some half decent screenshots, then you wouldn't need to teach/charge to teach anyone on skype, as they'd have a clear understanding of how the system works anyway :idea: :?:

You may ask, well whats in it for me, in showing everyone how my 40-100 pips per day system works, for free:?:
And yes, you have a point, why give away something good for free, when you can just trade it yourself?
This brings us back full circle - i.e. The notion of a free system, when really, followers need to enter your skype chat room in order to gain a full understanding of how it works.

None of it adds up........

Thanks.

 

[JTrader]

Jim, regardless of any issues you may have with JTrader’s manner, you haven’t bothered to respond to any of the queries I and any other trader here has asked which doesn’t bode well for your credentials.

Forgetting my queries, as I suspect most of us already have the answer anyway based on your lack of direct response, the screenshot you posted is bogus – it does not illustrate your stated system’s principles in either entry or exit.

The entry point you indicate is lower than the previous bar. OK so far, 1-2 pips lower [btw which is it – 1 or 2?], but the previous bar was not a Inside Bar and the stochs had only just about begun to flatten at that point – no hook had formed. Your stated exit is “…when stochastic cross in the opposite direction…”. A little ambiguous – do you mean when they cross each other or when they cross the opposite 80/20 line to that which the signal was given? In either interpretation, your exit would have been much sooner (at either 2.0265 at 08:30 or 2.0260 at 10:00) rather than the absolute bottom you indicate on your chart.

To the casual observer you seem to have picked the top and the bottom of a decent move, when in essence your system picked neither. I say this not to discredit you, but to urge others, particularly newer and/or more gullible traders to undertake a more careful analysis of the system you are proposing and what you have illustrated – and to wonder at the gap between them.

If others are making money using your system, you must have cleaned up the entry and exit criteria considerably to those you have presented here.

Exactly.

A lot of such things rely on gullible readers getting caught up with the hysteria of the title/claims on performance, without checking the small-print .

 

[jim123]

Jim, regardless of any issues you may have with JTrader’s manner, you haven’t bothered to respond to any of the queries I and any other trader here has asked which doesn’t bode well for your credentials.

Forgetting my queries, as I suspect most of us already have the answer anyway based on your lack of direct response, the screenshot you posted is bogus – it does not illustrate your stated system’s principles in either entry or exit.

The entry point you indicate is lower than the previous bar. OK so far, 1-2 pips lower [btw which is it – 1 or 2?], but the previous bar was not a Inside Bar and the stochs had only just about begun to flatten at that point – no hook had formed. Your stated exit is “…when stochastic cross in the opposite direction…”. A little ambiguous – do you mean when they cross each other or when they cross the opposite 80/20 line to that which the signal was given? In either interpretation, your exit would have been much sooner (at either 2.0265 at 08:30 or 2.0260 at 10:00) rather than the absolute bottom you indicate on your chart.

To the casual observer you seem to have picked the top and the bottom of a decent move, when in essence your system picked neither. I say this not to discredit you, but to urge others, particularly newer and/or more gullible traders to undertake a more careful analysis of the system you are proposing and what you have illustrated – and to wonder at the gap between them.

If others are making money using your system, you must have cleaned up the entry and exit criteria considerably to those you have presented here.

Hi Bramble

The point i trade long hours so i dont have a lot of time to responde but you can always email me and i will try to respond on here.

To answer your question 1-2 pips lower or higher than the IB its up to you.
when its a strong down trend the stocks are not so inportant as we use fibs on any retracement to test the levels
it was not a great shot i no it was doen in a rush and it didnt come out like i wanted.
but i dont have a lot of time this is why i did the live trading its quicker and more simple

No this is one of the most simple systems there is and highly effective.for new and old traders and can produce 40-100 pips a day no problem we do it every day dont take my word for it ask around in baby pips newbies and oldies i have a fund manager who all uses the system and are very happy ask them . so its on another forum so what. some people want jam on it.

Here goes when the IB forms look at stocks if its high around the 80 mark crossed or hooked over then take a short when the trigger candle the 3rd candle in the group passes below the IB by 1-2 pips use fibs to look for a possible profit target. if stocks head to the 20 area in a strong trend they could stay there i while does not matter but if they turn and hook up and go back over 20 then look for a new IB.to go long thats the simple styal but i teach diffrent set ups to aviod fake trades. and if you trade on your own 30 min to 1hr time frame is good i use 15 in traning but yes it is a bacis but the idea is very basic and simple but we use fibs and trends lines when the guys are new but its teaching how to use price action.

Hope this helps


Jim

 

[JTrader]

Hi Bramble

The point i trade long hours so i dont have a lot of time to responde but you can always email me and i will try to respond on here.

To answer your question 1-2 pips lower or higher than the IB its up to you.
when its a strong down trend the stocks are not so inportant as we use fibs on any retracement to test the levels
it was not a great shot i no it was doen in a rush and it didnt come out like i wanted.
but i dont have a lot of time this is why i did the live trading its quicker and more simple

No this is one of the most simple systems there is and highly effective.for new and old traders and can produce 40-100 pips a day no problem we do it every day dont take my word for it ask around in baby pips newbies and oldies i have a fund manager who all uses the system and are very happy ask them . so its on another forum so what. some people want jam on it.

Here goes when the IB forms look at stocks if its high around the 80 mark crossed or hooked over then take a short when the trigger candle the 3rd candle in the group passes below the IB by 1-2 pips use fibs to look for a possible profit target. if stocks head to the 20 area in a strong trend they could stay there i while does not matter but if they turn and hook up and go back over 20 then look for a new IB.to go long thats the simple styal but i teach diffrent set ups to aviod fake trades. and if you trade on your own 30 min to 1hr time frame is good i use 15 in traning but yes it is a bacis but the idea is very basic and simple but we use fibs and trends lines when the guys are new but its teaching how to use price action.

Hope this helps


Jim

Oh, you also use fibonnaci levels but how do you use them exactly

This "system" sounds far from "simple" as i can see it .

 

[jim123]

Hi
its explained very well in baby pips with a lot a screen shots but new people need more than that they need guidance and they kept asking the same questions and it was people like that who asked me to do it live not the other way round they wanted it so i did it they seem very happy with the result

BUT LIKE I SAID ITS UP TO YOU TAKE IT OR LEAVE IT.


jAMES

 

[jim123]

Oh, you also use fibonnaci levels but how do you use them exactly

This system sounds far from "simple" as i can see it .

Well been fun those who would like to learn can speak to others and read my thread on BP those who dont wish to learn it can talk to JTRADER he seems to spend all day on here.


Regards

Jim

 

[JTrader]

Good luck jim

i shouldn't have joined the thread - i suppose like others - the juicy title sucked me in.

Its a shame the content of your not so simple system, doesn't look to live up to the spin!

JT leaves this thread, as its been a complete waste of time!

 

[ampro]

i shouldn't have joined the thread - i suppose like others - the juicy title sucked me in.

Its a shame the content of your not so simple system, doesn't look to live up to the spin!

JT leaves this thread, as its been a complete waste of time!

What a lot of fuss & hoohaa over nothing! LOL

I just caught this humorous thread today whilst browsing.

Funny how I hauled up his parameters, had a quick gander through a few (prev) days worth of bar prints & tallied up over 120 pips based solely on his price guides.

Took me all of 20 minutes.

If you'd thrown a buck-a-pip onto the table yesterday & this morning JTrader, his triggers would have paid the few bucks entry into his room, where you could have investigated all the supposed hype?

Might have saved you a mild cardiac.

 

[TheBramble]

A measured response Ampro. Regardless of your view of JT's patience infarction, Jim hasn't done himself any favours with his posted example or the fairly ambiguous and subjective 'rules' of his system. I’m not hitting Jim at all, it’s great he’s chosen to share, but as I say, he hasn’t presented himself or his system in the best light. System designers are not necessarily (rarely in fact) system packagers – because they don’t normally need to be. But if you’re going to choose to be one (either commercially or as in this case, by publishing on a board publicly), then either do it right or get someone to do it right for you.

That said, your second chart (and I note you appear to be using Stochs on divergence with price which has historically proven far superior to the more standard overbought/oversold rules) shows you taking a trade when the Stoch was at the 50 level and flat – so outside of Jim’s method. A valid trade and a good one, but nothing to do with Jim’s methods.

 

[JTrader]

I know, i know, i said i'd left the thread.....

Even if my posts on this thread did reveal a momentary lack of patience, this was for a good reason - due to the ambiguous nature of what has been posted.
Well spotted TB the stoch level was at 50 on this mornings chart.

The points i have been trying to make though, are serious & important ones. What has been packaged as a system, appears no more than a collection of vague ideas that are not clearly explained or exampled.

Due to the fact that jim makes money from his skype chatroom, and the fact that his rules for this "system" was his 1st post on T2W, and his 2nd post was to say along the lines of -
"Oh, i'm not getting into explaining this all again here, come see whats been said over at BBP's," I think i have been justified in being both suspicious of his motives, & slightly inpatient due to the sketchy nature of it all.

But hey, good luck with it all, i wish you well jim and all your followers !