Trend Spotter

[Ozzie]

These are my results for the first week trading this system. Some of these were on D4f and some on the E*Trade spreadbetting simulator:

Mon +39 pips
Tue -99 pips
Wed +97 pips
Thurs - did not trade due to meetings
Fri -38 pips

Results per instrument:

GBP +8 pips
CHF +8pips
EUR -56 pips
JPY +39 pips

Despite the results of -1 pip overall, I am very pleased with the system. The results need to be qualified by the following comments:

Tuesday I was not trading the system correctly - I exited trades before the signal was given and entered a number of trades too hastily. On Friday I was trading half heartedly as I was in and out of my office for a large part of the day. Many of the entries were taken 10 -15 pips too late and often 10+ minutes later than I should have.

The days that I was trading properly (Monday and Wednesday) with proper attention to the signals, the system worked well. In all cases I was attempting to trade 4 pairs, which can get quite hectic at times and hence delayed entries (using one screen and one keyboard).

Whilst I have traded for many years, I have had minimal success in the small amount of FX trading that I have done, so a breakeven result is a good start for me, especially as I can identify that the fault for the low results is because of my own actions (or lack of action). The signals delivered by the system certainly would enable excellent results.

 

[sam_bodie]

TS Results

The attached result is on auto trade with the EA. I am impressed. I ony traded euro/usd on my live account for +72 pips. I am satisfied with these results. 20-30% profit a week is not a bad deal at all and with continued use of this system, I am confident I can do more. With all the other higher pips posted here this week, I look forward to this coming week's trading. Good luck everyone!

Sam_Bodie here!

 

[bigcat]

Sam,
Can you say what timeframe chart you had this set for -- was it the 1-hour EUR chart?? Also, did you leave the autotrader running 24 hours/day?
Thanks,
Bigcat

 

[Eddy Bull]

Hi,

If got some questions about this system?
Has anyone a backtest result of the different systems from phoenix?

The other question is... is it passible to make a connection between the phoenix software and Interactive brokers? So I can put the system on and let it trade automatic!?

Regards.

 

[phoenixforex]

Hi,

If got some questions about this system?
Has anyone a backtest result of the different systems from phoenix?

The other question is... is it passible to make a connection between the phoenix software and Interactive brokers? So I can put the system on and let it trade automatic!?

Regards.

What different systems mate?

Not sure what is the IB platform, but unless they provide a MT4 based one, that would be difficult.

 

[ivot]

Sid, did you get my PM?

 

[sid392]

Sid, did you get my PM?

Ivot,

No mate can you send again please

Sid

 

[manz66]

Schoe,

For a child to be placed in a candy shop on the first day, he will eat as many sweets as he can, until he realises that wait, i am here for a very long time why eat everything now?

My point in that remark is this. you are absolutely right my friend, and the comments from Options as well, this system, will give you the signals for entry and exit. We dont have to take every signal thats presented to us, as traders we use out heads when to enter, and with the help of Trend Spotter, it will take a lot of those is it or is it not options away.

The first trade you place Schoe, on a long on Eur was profitable by 15 pips i think you told me, and it was me who told you to exit when it was on a long run. But since we where both running around, and not looking at the screens, and you being at work as well, it made it harder.

The members room is like you said, there to enable you as fellow traders to trade with me and other members, and like you said I know this system, and i do call and I do say when not to enter trades, it will take you a couple of days to learn this system to trade by yourself, with no help from me, it's that easy.

But to all members and prospective members who want this system "please dont trade like a kid in a candy shop" if needed demo trade for a few days to get use to it, then go live.

Any questions as you know i am here as always to help and support in any way i can.

Regards Sid

I have several systems (atleast 20 of them) like this where it picks up trend nicely and exit with nice profits (I can make signals match exactly like trend spotter using metatrader platform), but it will gives wrong signal in sideway market. Looking carefully all the charts posted by sid, I can tell this system is nothing special.

The real story sid is a good trader and knows when to take the signal and when not to take it.
So, success is with sid and phoenix trading ability not their trend spotter system. This information is provided for newbie traders decision, so that they can make right call , since it is a commercial venture.

 

[tinobe]

hi Bigcat,
Yes the system did ran 24 hours a day monday to friday @ closing, TS closed the position on Friday by the 20 pips SL that it setted. The only thing that was changed was the size from .2 to 1, as you can see on 6/21. When it started, we did not know that the lot size was setted to .2, otherwise the results would have been higher, like $ 478.00 more. The timeframe was 30min. The setting will be alter a little bit next week to see if it can be optimize for more pips. The result will be post Friday again. Good luch everyone, and happy trading, -- Thx.

 

[chonpz]

I have several systems (atleast 20 of them) like this where it picks up trend nicely and exit with nice profits (I can make signals match exactly like trend spotter using metatrader platform), but it will gives wrong signal in sideway market. Looking carefully all the chart posted by sid, I can tell this system is nothing special.

The real story sid is a good trader and knows when to take the signal and when not to take it.
So, success is with sid and phoenix trading ability not their trend spotter system. This information is provided for newbie traders decision, so that they can make right call , since it is a commercial venture.

I agree with manz. Sid is a remarkable trader. I have known Sid for 8 months now, way before phoenix forex started and back then, he took the time to mentor not only me but a lot of my moneytec friends at no charge. Like everybody here, I have invested in a few of those forex progs/tutorial before I stumbled across sid's mentoring/help. I know, after being taken so many times, that people have their doubts, but believe me this is the real deal.

Who else out there offers:

-full disclosure to their trading methods
-open source code
-chat time/help/mentoring.


Besides being a straight shooter, he is quite a talented trader. I have seen him average around 180pips a day for months and as you can see he is pretty much doing that today through phoenix forex.
If you guys dont believe me, just hang around and check it out for yourself!!!!!!
ANYWAYS, THANKS SID!!!!!

 

[phoenixforex]

the rooms in Paltalk are:

* Pip Talks - free room where anybody can join and talk about the system or forex in general
* PhoenixForex - the members room, protected by a pasword that comes with the system

Bouth are in the Business & Finance category, if u cannpt see the PipTalks Rooms listed in the category just search for it and you will find it.
regards

 

[greentrade]

Hi,

Thought I'd share the results of my first few trades (on demo) with the system. (Okay I had the system last week, but I was just getting up and running with it so those trades don't count

I only had four trades (2 last night and 2 this AM EST):

                     EUR         GBP
Last night     +14         +50
This AM         +26         -33
                    ----------------------
                       +40         +27 ===> +67

Not bad, but it could have been better. (I missed a sell signal; I'll blame it on my daughter who was home sick and I think distracted me or maybe t was my dog; more likely I was asleep at the wheel . I estimate that had I caught that signal, I would have been up at about 100 PIPs. Not bad for a newbie like myself, maybe I was lucky catching a good trend.

Here's the simple version of what I was did:

1. Identified the overall trend from longer term chart (H1 and H4 charts).
2. Made sure overall trend for EUR, GBP, CHF correlated (as they are all US-based, from their respective H1 and H4 charts).
3. Picked my currency (I was planning to do EUR only, but threw in GBP as well)
4. Looked at shorter term chart (in my case 15M, but it could be 30M or even 5M for the scalpers). I prefer a slightly longer term trade for bigger marbles per trade, and less overhead in terms of spread, etc, so I chose 15M chart rather than 5M like most folks here.
5. Once I determined trend from long term chart and it had a stable arrow (in both currencies last night, for most part it was upward trend) I simply waited for an up arrow signal on my short term chart.
6. I did not do much more analysis of anything, and opened up my trades with a 40 PIP trailing stop. I chose 40 since I expected to be in the trade for a while and was targetting at least 40 PIPs return. I could have/should have looked at resistance/support levels to determine a better exit point but ...

So there you have it. My "newbie" opinion: If I can get results like this all this week, the system will be worth its weight in gold for me. I'll see how it plays out. The key to the success of my trading was lining up the long term and short term arrows so they were both pointing in the direction of the trend. It would be great if this worked all the time, but I suspect it will not during times of thin or ranging markets. I suspect that I will have to do more analysis and put more thought behind my trades in future but I think just by waiting for the indicators to align, significantly increases the odds of making the right trade. You can always bring additional indicators, and news, and other infomation to your trade to help you fine tune it. Anyway, that was the key for me.

I followed with interest the debate on how many PIPs a week Sid and others make or do not make. Frankly, I don't think it much matters. If I can consistently and confidently produce positive PIPs every week, I can simply increase my leverage to get the returns I want. So if Sid makes 1000 PIps a week and I only make 100, I don't necessarily consider that a failure of the system or myself, by any means. If I make 100 PIPs a week, every week, I would be ecstatic and happy that the system has met my expectations. Maybe the 800 or 1000 PIPs per week is possible for me ... some day. Sid and those guys have been at the trading game for a while. So for folks like me that are new to trading off the charts etc., you might want to consider resetting your ambitions to be more realistic. I mean, you can't lace on a pair of skates and expect to keep up with Wayne Gretzky on day 1 now, can you? (Or lace up your cleats and bend it like Beckham, for a more British analogy.)

 

[skydlz]

hi greentrade good to see a fellow canuck make some coin (even in demo) and to top it all gr8 to see that luck is smiling at ya and all that money you have been spending on signal and systems will not go to waste i have been going in the same boat myself and almost blew my account and threw in the towel but your review is keeping my hopes alive i will wait for this week and then follow you and jump in keep us posted though thanks eh........

 

[jd442]

What happened to the Pip Talks room on Paltalk, it says it no longer exists anymore? I was in the room this afternoon.

hi greentrade good to see a fellow canuck make some coin (even in demo) and to top it all gr8 to see that luck is smiling at ya and all that money you have been spending on signal and systems will not go to waste i have been going in the same boat myself and almost blew my account and threw in the towel but your review is keeping my hopes alive i will wait for this week and then follow you and jump in keep us posted though thanks eh........

 

[phoenixforex]

* Pip Talks - free room where anybody can join and talk about the system or forex in general
In the Business & Finance category, if u cannot see the PipTalks Rooms listed in the category just search for it and you will find it.
For some reason the room isn't always listed in the category, just search for pip or Pip Talks and you will find it.

 

[ampro]

The key to the success of my trading was lining up the long term and short term arrows so they were both pointing in the direction of the trend. It would be great if this worked all the time, but I suspect it will not during times of thin or ranging markets. I suspect that I will have to do more analysis and put more thought behind my trades in future but I think just by waiting for the indicators to align, significantly increases the odds of making the right trade.

Anyway, that was the key for me.

those guys have been at the trading game for a while. So for folks like me that are new to trading off the charts etc., you might want to consider resetting your ambitions to be more realistic. I mean, you can't lace on a pair of skates and expect to keep up with Wayne Gretzky on day 1 now, can you? (Or lace up your cleats and bend it like Beckham, for a more British analogy.)

I wonder if you fully appreciate the real importance of those six highlighted words?

regardless of whether you're operating a bought system or your own home grown strategy, waiting (patience) is a key ingredient. Lack of discipline is a major killer, begin to harness that and you're on your way to reducing losses & increasing confidence quite significantly.

as you pointed out, you wont execute trades every day, even every week, no strategy or system can offer that. But long as you sit & wait until your signals tell you to go, then you'll at least give yourself an even chance.

good luck to you.

 

[jtrader1]

for phoenixforex

for phonixforex" look in private message please

 

[phoenixforex]

for phonixforex" look in private message please

done...

 

[phoenixforex]

I wonder if you fully appreciate the real importance of those six highlighted words?

regardless of whether you're operating a bought system or your own home grown strategy, waiting (patience) is a key ingredient. Lack of discipline is a major killer, begin to harness that and you're on your way to reducing losses & increasing confidence quite significantly.

as you pointed out, you wont execute trades every day, even every week, no strategy or system can offer that. But long as you sit & wait until your signals tell you to go, then you'll at least give yourself an even chance.
.

that is exactly the purpose of the members room, where people can ask question whether or not they should enter a trade and if it's necessary "hold eachother to the system" and to following the signals.

 

[Mark Hellikson]

US Holiday Weekend

that is exactly the purpose of the members room, where people can ask question whether or not they should enter a trade and if it's necessary "hold eachother to the system" and to following the signals.

Hello All,

I heard Sid is thinking about starting training for newbies on Sunday night. I have a request. Since this weekend is a huge US holiday weekend, is there a chance Sid could begin the training during Tuesday's London session instead of Sunday night?

Thanks.

Mark