Trend Spotter

[phoenixforex]

Hi guys - can you suggest me some good website for Forex reasearch? - free ones as i dont want to spend any monies at this stageRavi

First you should read as many threads as you can on this forum, moneytec also has a great deal of info on it.

These are a couple of sites that may come in handy Fx street and Stock charts to help you get a grip on a few indicators. na if you search on google or yahoo for forex education i'm sure you can find a lot of usefull sites. You can join the room on Paltalk, rooms name -Pip Talks and talk with some other trades more or less experienced.

hope that helps.

 

[greentrade]

Hi,

I just signed up for Trend Spotter. If it is 92% accurate over a sustained period of time, what was it ? 6 months ---it is the 'holy grail" as far as I am concerned. It seems that it is a trend indicating system but what happens in cyclical or ranging markets...does it just stand aside or does it still issue signals?

How long will delivery take to Canada?

Do I have to stay glued to my computer in order not to miss a signal? Or can I set it up to issue longer term signals (say one or two big moves in a day) so I am not completely tied down.

Thx....

BTW: It looks like a great product...usually though, great products start breaking down as soon as I come on board....hope that is not the case here 😉

 

[options]

I just signed up for Trend Spotter. If it is 92% accurate over a sustained period of time, what was it ? 6 months ---it is the 'holy grail" as far as I am concerned. It seems that it is a trend indicating system but what happens in cyclical or ranging markets...does it just stand aside or does it still issue signals?


Greentrade. There IS no such thing as the holy grail. There never will be a holy grail that people seek and can buy. Each persons search and final fulfilment of that search ends with the discovery that it was inside them all the time.

Why do I say that?

Even if you had a 'grail' that gave 100% correct signals every time. You could still come unstuck. Say you got a signal to buy. At the exact time you pressed the button the market drops back 6 pips. depending on who you broke with, you are now down an average of 10pips in 2 seconds!
What you gonna do? And where the hell has the 'grail' gone?

Panic and fear may take over. You bail for a loss of 10. Market moves down a further 2 and you feel better. Market then moves up over a period of 40 minutes and makes a nice 89 pip run without ever revisiting your entry point. At the start of this your signal was flashing and then vanished shortly after you pressed the button. It then came back on the next bar and stayed there. (And I have seen much more expensive systems where the flagging arrow would have stayed there. Even if the market carried on going down another 20 pips).
Or how about you are nicely into a trade 20 pips up just before an announcement. The market whizzes up 60 in as many seconds. FANTASTIC!

Then it drops back 130 and keeps going in that direction for the rest of the day.
You don't have a healthy account for very long.

There you go. That's the other 8% taken care of.

Right about now you are thinking 'Oh s***, what have I just f****** well bought?

Don't panic I do have better news for you. But that is a timely reminder to keep a balanced view.
You can have a 'system' that only gets 40% of trades correct and still come out on top at the end of the year.

There are other filters in this that will keep you out of bad trades (that's not to say that you won't do a bad trade yourself mind.

does it just stand aside or does it still issue signals?

It won't issue signals willy nilly. Each run has to start somewhere and it will first appear on a 1 minute chart. Of course you will be then prone to whipsaw no matter what other indicators you use, until you get a signal and it takes off. (But you could also be broke by that time). So the longer time frames give better signals.
As was explained in the room by Sid on either Thursday or Friday. You can't be like a kid in a candy store and take every signal on say the 5 min chart. Wait until it is qualified by another filter then take it. But depending on market conditions, ie not a range bound whippy market it would be possible to trade every signal and you could be trading X times a day.
I would much prefer to just place one trade a day 😆 But in reality this does not happen very often for me

Do I have to stay glued to my computer in order not to miss a signal? Or can I set it up to issue longer term signals (say one or two big moves in a day) so I am not completely tied down.

I think it would be fairer to say that it is more relaxing to trade the longer time frame signals but again waiting for a confirming indicator will make you feel a lot better about taking the trade. Generally though and in practice and if you can stay in front of your comp to trade, it is better on the 5 min frame while you are watching it. Only because the market can change course so quickly. Personally, I have been short euro since the start of the year but have found it difficult to get a line out because I keep getting banged out of longer trades. (Nothing to do with this system I will quickly add).

You won't have to 'set it up' just change time frame to 15, 30, 60 or whatever the software will take care of it.


BTW: It looks like a great product...usually though, great products start breaking down as soon as I come on board....hope that is not the case here

It won't

I agree with Schoes' last post I have only had the system since Friday (I just couldn't wait any longer), and I really am impressed with not only the system but with Sid's help and assistance.

😱 Oh' errr!!!, slight confession here to the peeps in one of the rooms early friday morning around 8.30 Sid was helping me set up and I was taking a large proportion of his time that morning. So what with his helping me, running 2 rooms and posting on here and well as moving house this weekend his time was vastly stretched and that 's why that lovely euro long wasn't called in one of the rooms. Very sorry peeps!!! (he says; ducking vey quickly to avoid heavy objects thrown towards the area of his head).

If it's any consolation. It showed up lovely on my chart. 😀 But no, I didn't take the signal as I was not set up then. 🙁
I can only do one thing at a time. Hence the main reason for getting this system. I now have a 'minder for the other 3 pairs.

Greentrade. In closing I will say that you will be impressed.
Sid/Phoenix trading. Please correct me if I am wrong with any of my 'factual' statements regarding the software. I would hate to give the wrong impression.

 

[Buk]

I had a peek in the room for a 30min period over a couple days last week. Call it curiosity. I can't comment on the system or signals, because to be fair, I don't know enough about it. But I do know Options. I would have no hesitation whatsoever in taking what he said as "good enough" for me.

The people (Sid etc) in the room were polite, helpful, open & honest.

It would take something pretty cool for him (Options) to become more than a little interested, he's an experienced trader who knows his onions.

Like he said, and many other experienced punters have continually voiced in the past : "it isn't the product which makes the man, rather the common sense & sensible application of the product which will keep you out of harms way"

No doubt, you'll still have to use your noggin to trade what you see & listen to the market rhythm in order to maintain a positive a/c balance, but if an 'assister' is utilised to help you along the way a bit, then all good & well.

good hunting to you Options & others who have purchased, and all power to Sid et al who have offered transparancy via the live Paltalk Room.....I'm always a believer in keeping an open mind, 'the tools not the workman' analogy etc, blah blah...............

 

[phoenixforex]

hello,
option - much thanks for your answer
greentrade - the system delivery takes somewhere from 2 to 5 days depending whwre you live, in Canada should be around 5, this is out of our hands.

the system can give sound alerts when entry/exit signals are generated so you don't have to be glued to the monitor, but at the beginning we encourage you to watch it and be in the paltalk room(s) so you can profit from our's and others trading experience.
thank you .

 

[schoe]

Hi,

I just signed up for Trend Spotter. If it is 92% accurate over a sustained period of time, what was it ? 6 months ---it is the 'holy grail" as far as I am concerned. It seems that it is a trend indicating system but what happens in cyclical or ranging markets...does it just stand aside or does it still issue signals?
--------------------------------------------------------------------------------------------------------------------------------

It still issues signals during choppy periods and this is where you need to learn when to stand aside. ( me included as I must admit to quite a few losing trades on Friday as its easy to get carried away and trade when you shouldn't when you start seeing the signals for the first time.)

Sid is a good trader and has been using the system for much longer than me thats why the chatroom support is invaluable as you can learn when to trade and when to stand aside and learn what he looks for to avoid losses.

I am going to be honest about my trading results using this system I confess to not being profitable so far trading prior to using this system ,(despite lots of courses/books/mentoring) I only trade part time and having used this system for one day nothing has changed as I lost 60 pips Friday being whipsawed and for failing to take a loss due to my ego, not the systems fault!

Now I can hear the doubters laughing from here but as far as improving my trading and from using this system I am going to be honest , if Sid and the system turn me into a winning trader then you know I am not telling any untruths and that it is not working for me for whatever reason and I will tell you why I think that is if I become profitable you will also know and that you can trust me when I tell you that. This may not be the fault of the system it may be my fault for not maintaining discipline or for other reasons and my examining those reasons that will help me trade in a better fashion.

I have an open mind on the 92% accuracy figure at the moment but I can't see it being that high if you just follow the signals you need to learn when to take them and when to leave them.

This is not having a go at Sid who is doing a fantastic job and not knocking the system as I think for the money it is unbeatable but I am going to journal my use of the system in order to improve my trading and to let people know the truth from my perspective i'm sure Sid wouldn't want it any other way.

I am going to paper trade for a while until I get profitable consistently and I am going to start with a 10 K paper account and just trade using Trendspotter I will start a jounal here on this site documenting my trades it will be called Schoe's Trendspotter Trading, I may also post the results here from time to time.

Regards Schoe.

 

[options]

Many thanks for the vote of confidence Buk. I appreciate it.

Think I will start a thread for the best signature. The winner has to be yours.

Did that come from anyone or is it yours?


Schoe. 60 pips in a day is way too much m8. Was that from one trade? and did you get a reversal sig and not take it. Or did you jump in before or way after a signal?

I think to what you have admitted to on here (And that is no easy thing) People will be eager to read your account of things.

Patience is a virtue they say. But not taking action when you can see you have to is criminal.
The guy that mentored me imbeded into my brain that the "The first cut is the cheapest"
But I am the first to admit it is not easy to take your hits. You wait in fear because you 'want' it to turn. Then the pain of the loss becomes too much to bear and you 'have to' get out. Sometimes the market will turn right around at that point and kick you in the head and it goes into now what would have been a great trade. BUT What happens if it carries on in 'loss' mode for the rest of the day, or the next few days. How much could you have lost then? You would be pleased that you got out when you did.
Practice taking small losses, and be happy with the loss. You can always take another shot at it. Not so if you just let the market drain your account.
Hopefully now though you will not have as many losses with the new software.

 

[sid392]

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

 

[greentrade]

Thx for all your words of wisdom Options, Buk, Phoenix, Schoe, and Sid.

I will definitely paper trade the system a few days and try to figure out how to avoid getting "whipsawed". Options, you had mentioned "filters" and "confirming indicators"....are these all part of the package? Or are they your own filters/indicators that you use with the system?

Once I do go live, I still plan on using the stop losses of 20 to 30 PIPs and using low enough leverage that I will not have to break my piggy bank. I may look at the 10 or 15 minute charts rather than 5 minute ones (or use both and make sure they line up). I'll see after I get the system.

Anyway....good trading to all and I'll see you in the paltalk chat tomorrow!

 

[schoe]

Thanks Options for the kind words. You are right its not easy admitting you are not one of the 5% winners in trading and this is the first step I hope to joining them there are many people on here who are in the same boat but pretend to be making loads of money and being top traders.

The losses were mainly 15 point whipsaw types on signals in the choppy period after the news , but one that I didn't cut which was 40 points on what I thought was a H and Shoulders so didn't cut my short trade and moved my stop loss! (i KNOW !) only for the market to continue long as the signal said it would. doh!

Anway Sid has been very helpful and supportive and we have had a long chat on the phone, I am going to turn my trading around with Sid and the systems help and the greatest trading site on the planet trade2win will be able to read about it here and know its not a load of lies.

Regards Schoe.

 

[phoenixforex]

Thx for all your words of wisdom Options, Buk, Phoenix, Schoe, and Sid.

I will definitely paper trade the system a few days and try to figure out how to avoid getting "whipsawed". Options, you had mentioned "filters" and "confirming indicators"....are these all part of the package? Or are they your own filters/indicators that you use with the system?

Anyway....good trading to all and I'll see you in the paltalk chat tomorrow!

The package includes all the indicators needed, the filter aswell.

 

[greentrade]

The package includes all the indicators needed, the filter aswell.

Super! Thx Phoenix...

 

[bigcat]

No one has mentioned using Experts to trade the signals automatically on MEtatrader ... Has anyone set up an Expert using these signals (is it possible)?

It would be very easy to add whatever other indicators you like as additional criteria to the signals generated from this system, so that trades were only placed if all the criteria were met. Not sure about the exits because I haven't seen how they are handled.

But in general, can anyone comment on using this system on Metatrader with an Expert?

Thanks,
Bigcat

 

[sid392]

No one has mentioned using Experts to trade the signals automatically on Meta-trader ... Has anyone set up an Expert using these signals (is it possible)?

It would be very easy to add whatever other indicators you like as additional criteria to the signals generated from this system, so that trades were only placed if all the criteria were met. Not sure about the exits because I haven't seen how they are handled.

But in general, can anyone comment on using this system on Metatrader with an Expert?

Thanks,
Bigcat

Hi Bigcatt,

To answer your question we have already done it, and it's part of the system. You can add whatever you wish to this system, if you feel it will enable you to trade better. But I have set this system up i coded it, to enable you to trade better and stay in trades longer, once you buy and become a member Bigcatt, and join the members room, you will find that we are there to help you become better and trade more profitable.

Hope this answered your question?

Sid

 

[bigcat]

Thanks, Sid, that clear up most of it.

Is there anyone who is autotrading the system (with or without additional indicators)? By autotrading I mean setting up MetaTrader to automatically place trades -- both entries and exits -- without a person having to be there to do it?

This would make the system unbelievably convenient, but it may not work well this way so I realize it might not be possible.

Bigcat

 

[sid392]

Thanks, Sid, that clear up most of it.

Is there anyone who is autotrading the system (with or without additional indicators)? By autotrading I mean setting up MetaTrader to automatically place trades -- both entries and exits -- without a person having to be there to do it?

This would make the system unbelievably convenient, but it may not work well this way so I realize it might not be possible.

Bigcat

Hi Bigcatt,

Yes both myself and Caildragon are, but we are just putting the final touches to it.

Sid

 

[phoenixforex]

the PipTalks room on Paltalk is fully operational, feell free to join and talk some forex trading 🙂

 

[sid392]

Sorry guys for not posting, see attached screen shot of Eur/USD tradeour members are currently in.

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Hope that helps.


Sid

 

[Bluewave]

Yup, I got that signal also 😉

 

[sid392]

Yup, I got that signal also 😉

Bluewave wave may i ask you a question?

Whats your point? Good for you, if your happy trading that trade it, we have a that and many more on mutilple pairs,

If your happy with stick to it.

Sid