Reading the trend
Here is what I mean with the trend and reading it with the weekly
you can see in this trade that there is a buy signal but the weekly AO i s not agreeing with this , so i am not taking it,
I have also shown what to do if your entry is given when its under the 45 sma, as soon as it hits 45 sma breakeven right away, as it can turn from here and go down
dont let the market turn against you, if its not going up then why take the loss
What pair can we trade with this template?
any pair you like to be honest with you
i would say avoid exotics, but you can trade whatever you want
TP_channels_v0.mq4 is not working with my metatreader. my target are so far from each other. Please help!
if you have a 4 digit broker then just change the values
so if the first value is 900 change it to 90
the 5 digits broker uses 3 digits to show 2 digits, for example, 20 pips its 200 but on the 4 digit broker its just 20
Really clean setup. Have you traded it live yet?
Would really like to see some of your progress using this setup.
i was away from this forum and just directed by some one to this system. you did it again . i remember u crack the 6000 doller system last year. and now you have done the same again.
keep up your good work.
this was what I placed on forex peace army for the forex black book system I have shared on this thread, according to Dustin he is telling me its not a macd system, who is he trying to kid
this was my comment below at forex peace army
I have cracked this system, its nothing more than a macd system with the trend, i have unlocked all of his secrets to this system its using the 5 ema shift 5 for entry with the macd at a certain position, when the macd goes under the 0 line in an up trend you want to look for a buy, so the entry is when the price crosses the 5 ema shift 5 after you see the macd under 0,
so my overall take on this system is that it does work, but I think its not fair to be charging money for this system as people already have access to this information, so its unfair to charge so much, i would have to conclude that this system is a scam , under the conditions that its no more than a macd trend system
response from Dustin :
Comment: Added by Dustin Pass on 2013-02-19 07:51
Hello James, I am glad you found our system profitable and I am glad your overall take is that it does work however I assure you I do not use MACD as part of this strategy. That being said, even if I did use it I don't see where that is relevant or why you would have an issue with this. There really isn't anything new. Its a matter of how you use what is available. If I use a certain tool ie MACD (which I don't) and I find a way to use it profitably then I am ahead of 97% of the traders out there who typically fail and my system has value and could be sold.
Anytime you purchase any strategy or software you can pretty much assume it is using a combination of indicators or concepts that are readily available at no cost somewhere. What you are paying for is not the tools but the time and energy spent in identifying the ones that work together as well as the rule set that is used to apply them and be profitable. Best of luck with your trading.
Damien, NSW, Australia
you can also comment on forex peace army regarding this system.
Yes I agree the exit levels are crucial to trading it. Maybe fib levels?
First of all, thank you very much for your efforts and applied wisdom. All of you are true artists. I have a question regarding to "Target Levels". Do anybody knows why this "Magic Number" of the initial channel is 178 and no other number?. Why this number matches so well on the chart?