2009.06.17 DRAIN THE BANKS REV 8

[rickyshuang]

Love drainage and gutter.
Thanks

[Shinobi-X]

early 60+ pips on e/j asian session (hk/sin), healthy breakfast

[Shinobi-X]

started using broco as charting tool since weeks ago (thanks to traders here), and still with alpari uk for live account.

[jacal1]

Awoke this morning to 3 H1(how often does that happen) took 20pips entry on open of new candle TP at 1.6515

short still riding the 3 semafore on failed attempts for further breaks took positions again as news were coming out having really neutral news I was willing wager half of previous day results to see this through SL would be break on 3 semafore last entry was 1.6545

3 positions TP at 1.6505 for 75 75 pips (reminder i do not trade full lots 1 lot divided in 3 to 4 increments decided on semafore str)

got in on the bottom retracement 1.6445 tp 1.6465 could have made more but I thought was good take for the last 3hrs

DTB!!!

[Indigo]

I'm new to this trading system, and have read as much as I've had time to. Still, I have some fundamental questions that I would greatly appreciate help with from the Author or someone with lots of experience using the system.

Last night I did two trades E/U and U/J. In both cases, the H1 chart had a 3 semaphore, and the 15 had a 3 semaphore in the same direction on the previous candle. I entered on the 15 when I thought best, both times not too far from the 3 on the H1. Both trades ended up hitting my 15 pip stop loses as the semaphores moved down to the next candle (See my entry on the attached picture - the semaphore moved down from the candle I entered on). The system did not indicate "Do Not Reverse" on the H1 or M15 charts

I think there is promise with this, but I am concerned about the moving of the semaphores.

Here are some specific questions:
1. If the system does not say "Do Not Reverse", when can we say a semaphore is an accurate signal and is unlikely to move? That's the most difficult thing for me to grasp about this system.

2. I've noticed for very brief moments the indicator will say "OK to Short" or similar - is that the ONLY time to enter? If so, does it need to say that on both the M15 & H1 Charts, or just the M15?

3. What technical conditions result in the "OK to short" (or Buy) signal, and which cause the "Do Not Reverse" signal?

4. What is the difference between the 1, 2, and 3 semaphores, and what technical conditions cause them to appear?

5. Does anyone successfully use semaphores in other time frames, such as the D1, or should we ignore those in other than the M15 and H1 timeframes? Reason I ask is that sometimes there are conflicting indications across times frames, like a 3 suggesting a reverse to the upside on the H1 and a 3 to the downside on the D1.

6. Does anyone have a particular system they use with a high success rate? I figure I need 20 PIPS per day average gain to reach my objectives, anything you can share is greatly appreciated.

Thanks in advance for the courtesy of helping me with my questions!

[crottolofx]

a greeting to all.
are new and follow from the system rev 6 drain the bank.
try and try again I got some results.
I would ask rumpledone, courtesy could help determine the trigger for the pairs of currencies.
sorry for my bad english.
is italian.
thanks

[Patch]

crottolofx
Your italian/english is great, and a lot better than my english/italian!
Welcome. Keep reading, demo trading and start asking questions.
If I may suggest, take some screen shots of your chart as you trade and put notes on them, enter exit etc and post the in the appropriate thread. Work harder than you ever had at anything in your life, and you will find what you are looking for. --Patch

[Patch]

jacal1

Who are those beautiful three kinds?

Hands down, you have won the "Best Icon" contest, bar none. jb

[crottolofx]

I already use the system.
I would like to improve the entry points.
adjusting the trigger with more precise values you enter better with less risk of loss.

use 10 pips GBPUSD.
use 10 pisp EURUSD
use 10 pips USDJPY
is correct?.
for usdcad, usdchf, eurgbp, eurchf?

thanks for the answers and the help ..

[Patch]

crottolofx

Are you trading with the H1 candle? green = long, red = short?

Personally I would stick with trading the major pairs only, with the lowest spreads with your broker.

You are demo trading and not using real italian money for the time being?

You want to learn how to trade, you are at the right place, you just have a lot of work to do, that only you can do.