Forex Black Book trading system copy

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jamesagnew717
288
jamesagnew717  

Hi,

In this thread I will discuss the new trading system called forex black book thats a 4 hour trading strategy.

this course costs a lot of money to purchase

but is it all that ?

this is what i will be showing in the examples to come

anonimm
30
anonimm  

Good luck, and thanks

jamesagnew717
288
jamesagnew717  

Black book and the macd

I will now show you what the settings are for this

we want to use macd, setting is 12,26,5 and drag a 1 ema onto this ,

when we see the macd and the 1 ema crossing below the 0 area but the trend is up then we want to look for a buy

this tells me that there system is nothing more than a macd and a trend following system in my opinion

also use the 5 ema shift 5 , when the price closes this , its a confirmed move

take a look at the picture below then we can discuss any questions you may have about this

Files:
jamesagnew717
288
jamesagnew717  

Arrows explained

I am now going to explain to you the arrows

the arrows come by the price crossing the 5 ema shift 5 and the position of the macd

if we see the macd go under 0 and we are in an up trend then we look for the 1 ema to cross macd to show us a buy signal, we also want the price to close the 5 ema shift 5 to confirm it,

if we see the macd go above 0 and we are in a down trend then we look for the 1 ema to cross macd to show us a sell signal , we also want the price to close the 5 ema shift 5

take a look below to see what i mean

jamesagnew717
288
jamesagnew717  

Trend filter Black Book

I will now show you the trend filter they use

I am not sure I like this one

i prefer the 233 sma,

take a look at this exaple below , we are in a down trend under the 233 sma, but the trend filter says a buy ?

i am not convinced by this trend filter,

jamesagnew717
288
jamesagnew717  

template and suggested mt4 to use

here is the template you can try for this , then we can maybe adjust it or get a programmer to show us arrows

i suggest you download the mt4 demo from pepperstone mt4 , I am not an affiliate nor do I work for these guys, but this chart is better as its a new york close chart, this is what the system uses, so its best to make sure the candles all look the same,

you can take your trades with your normal broker, but manage the trade using the peperstone mt4 chart,

Files:
jamesagnew717
288
jamesagnew717  

My arrows on the chart drawn by hand

have a look at the template, you should be able to read it without the arrows,

i have drawn the arrows in the chart by hand to show you how easy it can be

if we had a programmer to show us the arrows it would be ok i guess, but not really needed i think

take a look

Files:
esteba88
6
esteba88  

ABout mac d

Hi where can i Find this Macd an 1 ema?

This Macd indicator is special?

jamesagnew717
288
jamesagnew717  
esteban88:
Hi where can i Find this Macd an 1 ema? This Macd indicator is special?

not special, its just a macd setting is 12,26,5 you have to drag the 1 ema onto the macd and then go to first indicators data, where it will say close, you need to change it to first indicators data, also you have to make the macd histogram invisable

i have attached the template above, all you need to do is download it and use that on the peperstone mt4

go to google and put in peperstone mt4 then download the demo account, you will be using this for the charts

all the best

turnupvol
42
turnupvol  

Thanks for the system James! What I really liked about the black book system was the exit levels, do you have an indicator for that? Attached is a screen shot of them...thanks!

Files:
jamesagnew717
288
jamesagnew717  
turnupvol:
Thanks for the system James! What I really liked about the black book system was the exit levels, do you have an indicator for that? Attached is a screen shot of them...thanks!

Hi,

yes, I have figured out what they are doing for this also,

they are only using Fibonacci for this targets levels, they take the most recent high and they drop the Fibonacci from this high down exactly 178 pips every single time,

i figured this out, take the up level 1 and subtract the down level 2 from it, you get 178 pips every single time

this may take some time to explain,

what you have to do is this, you need to set your fibonacci to the following

level description

0 up 1

1 down 1

1.32 down 2

1.8 down 3

2.62 down 4

-0.32 up 2

-0.8 up 3

-1.62 up 4

i have just realized, its not the recent swing high, there is something else that is working out the position of this Fibonacci setting, this is something we have to figure out

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