trade gbp/usd or gbp/yen during london session,dont take trade on early asian session,and trade with the trend ,you can get most sucess,some trade you taken on gbp/usd ,it changed its direction during london session.use 5 ema to see trend direction.
Is anyone using Forex Rebellion?
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trade gbp/usd or gbp/yen during london session,dont take trade on early asian session,and trade with the trend ,you can get most sucess,some trade you taken on gbp/usd ,it changed its direction during london session.use 5 ema to see trend direction.
With FR am doing real good with 1HR tf, am using the manual.One just need to make sure the last comfirmation candle finishes before one sets its entries....
Like any mechanical system, the signals rely on a set of conditions, but not much else. The system is good, but only if you don't go against the trend. I prefer 1H and 4H frames...the longer, the better the signal qualitites. If you are using the Trading Assistant, it will paint vertical dotted lines at the candle that triggered the long/short signal, plus an horizontal line at the point of recommended entry price. I'm just following all signals triggered to ascertain the usefulness and validity of FR. So far, if you want to hedge your bets, don't go against the trend, since FR will pop signals regardless of trend.
What works for me is to determine trends according to the timeframe I'm using only (I will use mult******s and multistochastics for later determination of my exits), so, no matter what the time frame, draw a ZigZag indicator. Rules for me are simply; ZigZag should determine a trend, otherwise there is no deal. Ideally it should have 3 peaks or valleys. For example, let's say I'm looking at an uptrend, it will look like this: the high peaks will be consecutively higher and the valleys will also be higher. If I get 3 peaks higher, but the valleys are pretty much at the same level , I only get a funnel effect, no trade. Same for short positions. If you get a very obvious trend, then you only need one or two peaks or valleys. Just using this additional system has made me hit 85%, but I need about 2 more weeks of solid data to validate the results.
As far as high entry price for 1H, 4H, I would suggest a microaccount. Hope this helps. Dan
Regarding pullback, ...I guess you mean price retracement. FR seems to be good at making an entry after confirment of the retracement, thus making it a safe entry. By the way, I agree with their entry points, which saves you from getting whipsawed by price movement. Sometimes entry points are right at the Fibonacci resistance levels and you're not gonna go anywhere. So, entry points are ok.
I'm changing things as far as TP /SL is concerned. My idea is to take my trade, set & forget...let it ride as high as it can and let the Trailing Stop define the profit. That way you can really milk one of those long trends with nice profit candles, rather than being stopped short. I haven't done very serious work on that yet, since I'm only studying the validity of the system itself, ...not even trading in demo. That I already did for a while, to make sure the system has some potential. For the purpose of my TP/SL I will probably use a customizable ea, such as Bruno.
Can I ask if you can provide any more information on Bruno? I've never heard of it - customizable ea sounds interesting.
Trailing stops seem like a good idea however I imagine it will take a lot of work to get trailing stop parameters that are optimal for each currency pair and various market conditions. Have you considered the use of the 5 EMA as a trailing stop loss or even a Parabolic SAR? The Parabolic SAR seems to work very well on 4 hour charts. Just a few obvious ideas there.
Trailing stops seem like a good idea however I imagine it will take a lot of work to get trailing stop parameters that are optimal for each currency pair and various market conditions. Have you considered the use of the 5 EMA as a trailing stop loss or even a Parabolic SAR? The Parabolic SAR seems to work very well on 4 hour charts. Just a few obvious ideas there.
Sorry....wrong name, it is Mauro ea. Anyways, this or the Swiss Army ea are the ones I will be experimenting with. You should work with something you feel comfortable with, so use whatever works for you. In my case, my objective is a set and forget. I've been able to setup the same parameters to Mauro and attach them to different charts, with no problems. Remember that the settings will be done in pips, so it will automatically adjust.
Thank you for posting those. It's fine to do these in pips if you can decide on values that work well for each pair. Do you or anyone else know of a similar expert advisor that will allow you to trail using the value of an indicator. I would like to use the 5EMA with a shift of 3 as this seems to be a very effective trailing stop - if such an EA exists then I can have set and go also 
Thank you for posting those. It's fine to do these in pips if you can decide on values that work well for each pair. Do you or anyone else know of a similar expert advisor that will allow you to trail using the value of an indicator. I would like to use the 5EMA with a shift of 3 as this seems to be a very effective trailing stop - if such an EA exists then I can have set and go also
Swiss Army will allow you to take your TP/SL on PIP, Dollar or Percent, so you might have to experiment a bit. It also has Magic Numbers, which allows you to customize for any specific pair, just by changing the Magic Number.
Sgt. Pipper
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I've been using FR for about 6 weeks. I lost big at first. I also tried using 1:1 as well as 1:1.5. I also spent time with trailing the 5ema. I found that if you add 3 additional pips to the suggested entry and take your profit at 12 pips, you can have a 90% success rate on the 1hr. I know its not many pips for the time frame, but its very low risk and 9 out of 10 trades win. I've been taking 2-6 trades a day, monday-thursday only, and it works just about every time. FB gives you plenty of signals, so no need to get greedy w/ the pips on a single trade.
I don't suggest using the same currency pair after you win a trade; wait for another pair to signal even if the momentum is looking good on the pair you just exited. I don't consider myself to be a scalper and before FB I use to take less trades and aim for 30 - 150 pips, but this seems to work best so far for me. I suggest closing a losing trade at between 36-48 pips. Don't ever enter a trade earlier than suggested. I don't use FB on eur/jpy, gbp/jpy/, eur/gbp (too slow) or gbp/usd either. Also, I use the same amount of lots per trade for the entire week. I'll increase it the next week (considering an increase in balance) and stay with it until the week ends. I've been trading for 2yrs and this is my favorite system so far out of a dozen or so I've tried. I'm sticking with it forever as long as it keeps working. I also use Mbtrading b/c I found that they have the best spreads in the business which really helps out alot for this method. Hope this helps.
I don't suggest using the same currency pair after you win a trade; wait for another pair to signal even if the momentum is looking good on the pair you just exited. I don't consider myself to be a scalper and before FB I use to take less trades and aim for 30 - 150 pips, but this seems to work best so far for me. I suggest closing a losing trade at between 36-48 pips. Don't ever enter a trade earlier than suggested. I don't use FB on eur/jpy, gbp/jpy/, eur/gbp (too slow) or gbp/usd either. Also, I use the same amount of lots per trade for the entire week. I'll increase it the next week (considering an increase in balance) and stay with it until the week ends. I've been trading for 2yrs and this is my favorite system so far out of a dozen or so I've tried. I'm sticking with it forever as long as it keeps working. I also use Mbtrading b/c I found that they have the best spreads in the business which really helps out alot for this method. Hope this helps.
Sgt. Pipper
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I use eur/usd, nzd/usd, nzd/jpy, usd/jpy, cad/jpy, usd/chf, usd/cad, eur/chf, aud/usd, and aud/jpy. I had initial success with aud/nzd, aud/cad and eur/cad, but took them off the other day since they were the losers (50% of the time). Aud/nzd had the worst results and the above USD pairs have the best results so far. My very first week using FR I included gbp/usd, eur/jpy and gbp/jpy and lost close to 30% of my account balance on them, so I stop using them. I wasn't using my 12 pip take profit method at that time though.
As far as trailing the 5ema, it works for many people but for me, it taps into my greed/fear factors too much. So taking 12 pips fits me better b/c its a steadfast rule that I keep and requires zero emotion or thinking. 5ema trailing may work for the more decisive person but I'm a bit too subjective at times and need hard rules. I sleep better too and my heart doesn't do the "roller coaster" thing either anymore, so its much healthier for me.
Concerning the suggested entry, I mean the entry that the trading assistant gives you (the red or blue dashed line). Add an additional 3 pips to what that dashed line is recommending on your limit orders. Also, if i'm late on an entry I will enter at market but I deduct the difference. For example, If a long trade signal is already 5 pips above the additional 3 pips I added to the dashed line recommendation, I'll exit at 7 pips instead of the 12 pips from my market entry; or I'll ignore the signal all together if its over five pips at the time I'm looking at my screen. I know I'll get plenty more signals later. Also, as you may already know, you can avoid a late entry and look at another pair right away when FR gives back-2-back multiple signals. This happens alot during London and US sessions. I'm hoping for even more signals after everything settles after the holiday break, and most importantly, hoping my win/loss ratio doesn't change.
As far as trailing the 5ema, it works for many people but for me, it taps into my greed/fear factors too much. So taking 12 pips fits me better b/c its a steadfast rule that I keep and requires zero emotion or thinking. 5ema trailing may work for the more decisive person but I'm a bit too subjective at times and need hard rules. I sleep better too and my heart doesn't do the "roller coaster" thing either anymore, so its much healthier for me.
Concerning the suggested entry, I mean the entry that the trading assistant gives you (the red or blue dashed line). Add an additional 3 pips to what that dashed line is recommending on your limit orders. Also, if i'm late on an entry I will enter at market but I deduct the difference. For example, If a long trade signal is already 5 pips above the additional 3 pips I added to the dashed line recommendation, I'll exit at 7 pips instead of the 12 pips from my market entry; or I'll ignore the signal all together if its over five pips at the time I'm looking at my screen. I know I'll get plenty more signals later. Also, as you may already know, you can avoid a late entry and look at another pair right away when FR gives back-2-back multiple signals. This happens alot during London and US sessions. I'm hoping for even more signals after everything settles after the holiday break, and most importantly, hoping my win/loss ratio doesn't change.
Thanks for the input Sgt., much appreciated. I'm too testing this system, although I'm looking at it from another angle. As soon as I finish my testing, I hope to share. Bottom line, it seems like a rough diamond, but the basics are there.
Dan
phreddyinbg
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I am not yet using Forex Rebellion but I am keeping my eye on the review in progress at systemsfortraders - They seem to be having mixed results and, it seems, not the results claimed on the over-hyped launch and Rebellion website. I think the most worthy note on the review is that the 15 minute timeframe seems to have too much chop, looking like 4 hour is the way forward - just in case anyone is considering the 15 minute timeframe. If I buy this system will report back with any updates.
phreddyinbg
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I tried it all day today on 15 min. Would have had more success with a 3ema 5ema cross. Maybe it was just today. Will be observing 3X5 tomorrow.
I tested the system on 1H for a week on 13 pairs. Just observing the hit/miss ratio, is roughly 64%, based on 24 hours/5 days. This is not considering the entries that never materialized according to the Trading Assistant. Bottom line, this is a rough diamond, and each suggested entry have to be analyzed before taking the plunge, but it is a good starting point.
Hi Guys,
I'm new here. I've just finished reading this thread as I've been using FR for a couple of weeks now. I'm seeing more success by following the trend and looking at obvious support and resistance levels but have been on holiday so now need it to fit in with my daily life.
I'm interested to hear how everyone is getting on now that it's over a month down the track since the last post.
Looking forward to your replies.
Cheers
I'm new here. I've just finished reading this thread as I've been using FR for a couple of weeks now. I'm seeing more success by following the trend and looking at obvious support and resistance levels but have been on holiday so now need it to fit in with my daily life.
I'm interested to hear how everyone is getting on now that it's over a month down the track since the last post.
Looking forward to your replies.
Cheers
