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Author Topic: The FREE FX1DO Trading System (post your pip counts here)  (Read 132618 times)

Offline trademaker

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The FREE FX1DO Trading System (post your pip counts here)
« on: July 13, 2015, 07:04:29 AM »
Hello to all of our great team traders here at Donna Forex. I am excited to welcome everyone who visits this forum.  I am also greatly excited to have the opportunity to share a powerful system which is utilized by many thousands of traders both professional and non professional alike. Additionally, a huge thank you to Donna for the opportunity to share and participate in the educational successes of many thousands of traders here at Donna Forex and around the world.

I also want to personally thank those individuals responsible for the posting of links to this forum. There is no greater flattery than that of individuals who deem our FREE educational services to be so important as to desiring to post from other forums around the web. We appreciate your doing so.

For all those who visit, the FX1DO system is a free system which is profitable for many hundreds of traders who are registered in our live FX1 room using tools and trade practices developed by our professional team from the ideas and concepts utilized and applied as a former professional trader for a Big 5 Futures, Commodities and Foreign Exchange Firm. We are constantly working to improve our utilities and programs and share them openly to our registered members. We work based on trust and honor and look forward to only having honorable members as a part of our service.

We also provide a Live Market Commentary and Analysis utilizing GoToTraining and GoToWebinar. During our live market analysis services and training sessions, we only exhibit, discuss and train on the tools and utilities developed by our team.

Unfortunately, there are dishonest and dishonorable individuals who desire to take advantage of our Intellectual Property (Some consider this theft of IP and thus are subject to legal issues) which I personally developed. While you may find tools and utilities on the web which may simulate and even try to duplicate our system, they fall short of doing so and most probably will cause you great risk and loss.

The following represents many hours of work on behalf of many individuals who have studied and are in constant learning mode. We welcome your participation and value your learning to be successful.

I want to present a trading system and set of techniques which I taught to our prop groups. Due to non disclosure agreements I cannot fully disclose the full complement of proprietary techniques, however, I can share the primary basics of the system we use.

As we have seen, the previous year yielded lower than normal volatility on most Currency Pair activity. As a result of this lower Volatility, it had been necessary to adjust trading systems parameters, along with expectations.  Now, as the volatility has increased, we apply planned and expected changes to compensate for increased volatility.

The following system is a adaptation of my favorite style of trading which utilizes the ATR Channels, Gann Octaves, M A Trends, Mean Reversion and Fibonacci. I have written about it on several of the forums at SHF, having done so in length. The purpose of this paper is to share what is working for many of the traders in our prop groups. I am a Professional Trader 1st, Trade Manager (Trade Market Analyst) 2nd and Coder 3rd . I have enjoyed being a part of this great community and have been able to benefit from the many great talents here. In consideration, I want to give back in return.

Within the scope of this writeup, I will not include our Gann Octaves, the Dynamic Principles of Gann or OBB Trading technique as they are for the advanced students who use them for anticipating turns in the market and the Take Profit (TP) levels in advance. This requires skilled teaching and training which goes beyond the scope of this basic project.

Additionally, this scope will not discuss my proprietary indicator, OBI_WAAN. It will, however, feature the use of Stochastic (STO). This style of trading can utilize the Williams%R, RSI or any oscillator which recognizes an overbought/oversold condition. Remember, these will be lagging, however, they will confirm the setup condition after the trade is entered.

As many of you here may know (and if you don't, then now you do), I previously led several large (thousands of traders) prop groups of international traders who begin their trading at the start of the London period. At the beginning of our sessions, we were faced with the normal issues of (1) which direction to trade, (2) entry timing. Our prop group style of trading is to initiate trades in the London Session and close any opened trades in the New York session. On occasion, traders have opportunities in the New York session and if presented they will try to trade also, but keeping in mind the requirement to close positions in the NY session since our risk management policy requires traders to close out positions by the end of NY session or hold with review authorization and approval, the criteria for trading requires a set of conditions which mandate short term trading opportunities only.

For now, I will do my best to keep this as simple as possible using price as the key to the setups.

Introducing GOFXProFX1 aka FX1DO
The concept is to use the Daily Open (DO) as a guide against the backdrop of an established up or down cycle (direction of price action) with London session as our beginning trading period. Price will move in association with the DO and will often have the tendency to fade the DO, into the cycle (Mean Reversion), then move back into the original direction. Within this writeup, you will see several cases (variations) of setups.

This trade technique can be accompanied by several other range and cycle trading techniques. I will not attempt to discuss them in this doc. If I did that, then this doc would be hundreds of pages. After reviewing this writeup, I hope it will become obvious to most traders that when a market begins to move, ie: cycling, that the opportunities increase for pips via variations of trade management.

I will present the images of the various setups with notes/commentary on the conditions, then the Trade rules will follow. PDF will be the next post..

to be continued..

To access and register for the FX1 Team Slack Trader Support Room, begin here.. http://www.goforexpro.com, but finish reading the first 9 posts before registering.


You have everything to gain, and I promise.. I will change the way you trade.. I guarantee it. Free FX1 Trade room.
http://goforexpro.com

"Make Your 20, Bank Your Money"... WFY II

"IT'S ALL ABOUT THE PIPS, 'BOUT THE PIPS".. LETS ROCK..
"Take The Pips and Run...!"

Rule # 34: God loves you because of who God is, not because of anything you did or didn't do.
Rule # 45: The Best is Yet To Come!
An Exclamation Point is a Question mark which God has Straightened out."
« Last Edit: September 29, 2015, 07:16:16 AM by boldtrader »

Offline trademaker

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Re: The FREE FX1DO Trading System
« Reply #1 on: July 13, 2015, 07:50:26 AM »
Before we begin.. a bit of housekeeping and information...

Housekeeping:

Constants:
 We primarily use the H1 and H4 for analysis periods and the M5 for initiating trades.

The system utilizes 3 moving averages set to the following parameters:
Moving averages: 34 MA, 2, 6 ; 13 MA, 2, 6 ; 5 MA 2, 6.
During low volatility, we replace the 5 ma for an 8 ma.
We currently use the 5ma due to high levels of market volatility.

London Period starts the cycle, ie: 01:00 GMT
London Open = Zero
  • bar.

    Cycle Trade Direction:
    34 ma < 13 ma = UpCycle / TradeUp;
    34 ma > 13 ma = DownCycle / TradeDown

    Note: I consider the term "trending" to be highly subjective.  As such, I replace the term "trending or trending" with cycle.  ie : Cycle up or Cycle down.

    The term "trend line" is replaced with "Trade Line".  You will learn more about this as your participate in the Free live, real-time, online community training room.


    Utilities:

    ATR Channels_with_alerts.mq4
    Settings:
    PeriodsATR: 500; MA_Period : 34; Ma_type:3
    Mult_Factor1: 1.61852 ; Mult_Factor2: 3.26704; Mult_Factor3. 485556
    Level_1_alert: false; Level_2_alert: false; Level_3_alert: true (updated 2/12/15)

    STO: 5/2/2
    I refer to this indi as the STO, simply because that is what I am used to calling it and see it on the boards. We have replaced this with our own STO utility with properly reflects the higher time period being monitored.

    To help the many traders of the originating forum where I am a moderator, we utilized a community indicator referred to as the STO7.   We have since replaced with the revisions which follow:

    Updated 2.12.15: Former STO indi has been replaced by the normal stochastic with 5/2/2/ settings and has been updated in the new template.

    Update: 6.1.15: Since the original write up of this system July 23, 2014, we have developed our own STO utility which reflects the proper MTF configuration of the actual period movement of both the smaller period and the higher period of monitoring combined in with some really cool features and alerts.

    Daily open line: Daily open [using GMT to keep consistent] [DO] = 17.00.01 GMT

    Trade Management:
    Take Profit [TP ] =
    [1] +10 / +20 pips
    [2] nearest ATM channel [-1 or -2 or -3]
    [3] nearest xx.0000 or xx.0050 price line
    [4] DO
    [5] Advanced TP can be the 1.618 % Extension Techniques, Octaves, or Gann Principles.
    [6] Trader choice of risk-reward ratio
    [7] set B/E at +2/+3 on move of 7+ pips.

    Terminology:
    Setup Zone 1: (SZ1) The area between the 34ma and 13ma.
    Setup Zone 2: (SZ2) The area between the 13ma and 5ma.  (During periods of Low Volatility, it is 13ma and 8 ma).

    LZ: Lower zone.. STO area < 30
    UZ: Upper zone.. STO area > 70

    Risk: Stop Management
    Stop levels tend to be +2 pips above the high of the entry bar (if short), and -2 pips under the low of entry bar (if long). Remember to adjust for the spread.

    Alternate stop level is the next ATR channel or next Octave level level (if using octaves - for our advanced program traders).

    I will present several case conditions (trade setups) with images, followed by the proposed trading rules.

    The following are revisions and history of changes from the original postings:

    Edits:
    - 7.23.14 Added FX1DO System Trading PDF, Zip file of Template and various MQL files)
    - 7.30.14 Updated PDF, FX1DO Trading System (corrected Housing Keeping Cycle symbols)
    - 7.31.14 Updated System PDF, cleaned up some visual lay out issues & grammar corrections.
    - 7.31.14 Added Supplement PDF
    - 8.4.14 Added Period_Range_box.mq4 to show session periods.

    FREE Live Support Training Room:
    Free support room for the FX1 System will be created here at Donna Forex.  To access, will require completion of electronic agreement for access.
    General hours will be London session from 1-5 am edt and NY session from 8:00 to 10:30 edt (New York time).  More about this later.

    Registration:
    Registration url will be posted here .. stay tuned in.
    Upon completion of the electronic registration agreement, you will be emailed instructions to access the room.


    Templates and Files:
    11.17.14 Updated Template to create unified color scheme. I guess some traders are not able to create their own color scheme.  :arrrg:

    New Updated Template with Updated moving averages and ATR channel:
    You can either download the zip file from the zip file from Dropbox..
    http://goo.gl/WWIh9L (Updated 2/12/15).  In this folder, you will also see videos of the FX1Do system.  You can choose .avi or .wmv for viewing. Both videos are of the same content.

    - 2.1.15 Updated GoFOREXPro Trade Room with the Slack Software for Live, Real Time Voice Market and Trade Commentary: Free to all members.

    - 2.12.15 Updated templates and files to the new moving averages and ATR channels.
    New link to download templates and FX1 Video with notes.. http://goo.gl/WWIh9L

    We have traders making hundreds of pips in our FREE FX1DO Skype room using this template. :

    Cheers.. now lets get into the various cases / conditions...









    FX1DO PDF's for Download:  Zip file



« Last Edit: October 13, 2015, 10:45:50 AM by boldtrader »

Offline trademaker

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Re: The FREE FX1DO Trading System
« Reply #2 on: July 13, 2015, 09:10:18 AM »
In the following cases, the STO7 indicator has been replaced with the standard STO indicator. As noted in previous postings, we now have a true MTF STO utility that is in use.  The new indicator is not reflected in the charts, pdf's or postings.

Case 1:

During London, Price moves into the Setup Zone (SZ1).
DO is below the 13 MA, and 13 MA is below the 34 MA. This is a sell setup condition.
Primary Target is the DO, -3 ATR, or +10 pips.

If (13 MA < 34 ma) && (DO < MA13) && (Close (2) < Close (1)) && (Close (1) > 13 Ma) && (Insert indicator filter here);

Can use Stochastic 5,2,2 (STO)  (Formerly STO7 with settings of 7/2/2)

If (STO (2) > 70) && (STO(2) </= STO(1)) && (STO(0) < STO (1))
=========================================
The idea here is that on the open of the trigger bar, the STO drops down from above 70 to less than 70. We use the open of the bar to trigger the change of direction of the STO as a confirmation for entry.
=========================================
There are variations to this STO setup, such as there may only be 1 bar where the (STO is > 70) and then the current bar moves back under 70. This would be (STO(2) < 70) && (STO(1) > 70) && (STO(0) < 70);

In this example, this trade resulted in approximately 38 pips, with the exit at the DO.

Price moved into the setup zone, then reversed and moved down to the DO/-3 ATC



« Last Edit: July 13, 2015, 09:14:53 AM by boldtrader »

Offline trademaker

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Re: The FREE FX1DO Trading System
« Reply #3 on: July 13, 2015, 09:11:51 AM »
Case 2 :
In this trade setup, Price spikes down into the SZ1. On the open of the reversal bar, the STO7 lifts. The 50 level on the STO7 scale acts as support in this trade setup.

TP Hit at the DO.

If (34 MA < 13 ma) && (DO > MA 13) && (Close (2) > Close (1)) && (Close (1) < 13 Ma) && (Insert indicator filter here):

If (STO7 > 70) && (STO7(2) </= STO7(1)) && (STO7(0) < STO7 (1)) ||

(STO7(3) > 70) && (STO7(2) < 70) && (STO(2) > STO(1));





Offline trademaker

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Re: The FREE FX1DO Trading System
« Reply #4 on: July 13, 2015, 09:16:02 AM »
Case 3:
At the London Open, the DO is < 13 MA. Price rises to the SZ 1, spiking above the SZ 1. On the bar after the initial spike, price again pushes higher, spiking above the London Open Bar. Entry is made when price moves below the close of the London Open Bar.

STO7 fails to cross above the +70 level, however, on the open of the second spike bar, the STO7 falls below the previous STO7 level. The confidence in this sell trade comes from price rising quickly above the SZ, not allowing the STO7 to react to the price move; and that the DO is below the 13 ma && the 13 ma is below the 34 ma && STO7 is > 50 but < 70 && then STO7 turns down on the open of the second spike bar.

STO7&: && (STO7(2) < STO7(1) ) && (STO7(1) > STO7(0));





Offline trademaker

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Re: The FREE FX1DO Trading System
« Reply #5 on: July 13, 2015, 09:17:07 AM »
Case 4

LOW PROBABILITY SETUP


In this example, the DO is in the SZ1. While it is feasible to make this trade, with the DO being in the SZ1, there is lower probability of correct trade direction. A successful trade will require a different way of analyzing the market, such as when Price moves under the DO, and 13 ma.. and the 13 ma is < 34 ma.

Our traders took this trade, mainly because the DO opened below the 13ma & Price did spike and close > 13 ma and < 34 ma. The TP was hit. This is not a condition I normally advise to trade. If the DO is in the SZ1. You do not have the DO as a target, thus must rely on the +10 or ATR channel as a target. The STO7 can be used as a filter here for additional confidence in the trade.




Offline trademaker

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Re: The FREE FX1DO Trading System
« Reply #6 on: July 13, 2015, 09:18:53 AM »
Case 5

NO TRADE SETUP Reversal Cycle

Case 5: Special note: In this setup, the DO is > SZ and 13 MA is < 34 MA. This market condition will require a different trade technique. However, what you will learn after seeing this type of setup, ie: the DO is > 34 ma and 34 ma > 13 ma, is that this is an early sign of a Cycle Reversal. The next 24 hour period resulted in a continuation of the initial move down, also providing an entry at the next London session.



Offline trademaker

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Re: The FREE FX1DO Trading System
« Reply #7 on: July 13, 2015, 09:19:43 AM »
Case 6

Typical setup, similar to Case 1. This trade, +14 pips or >.




Offline trademaker

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Re: The FREE FX1DO Trading System
« Reply #8 on: July 13, 2015, 09:23:30 AM »
I am moving ahead in the case examples as presented in the PDF.

SZ2 (Setup Zone 2)



Note: As written in previous posting, the 8 ma has been replaced with the 5 ma due to increased volatility levels.

As an added alternative, an 8 ma (2,6) is used on pairs with lower volatility. The same principle is applied with the exception of a change in the SZ. On Lower volatility pairs, the SZ is the area between the 8 ma and the 13 ma is used. We call this SZ2.

Example of using SZ2

Case 10

In this example, price drops into SZ2 only. All other criteria are met and trade is triggered long. This setup occurs on 2 occasions within the London session in this example.
DO opens > 13 ma, 13 ma > 34 Ma, 8 ma > 13 ma, price moves down into SZ2. STO7 moves into LZ.




« Last Edit: July 13, 2015, 09:27:22 AM by boldtrader »

Offline trademaker

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Re: The FREE FX1DO Trading System
« Reply #9 on: July 13, 2015, 09:34:01 AM »
The following are results of using just 5 pairs for the month of June 2014 for the SZ1 and SZ2 conditions.

Keep in mind, this was a period of low volatility.




Each trade is a minimum of +10 pips with a 10-12 pip stop. Most pairs have 1 trade per day only, with several having 2 per day. The pairs do not trade every day. Only when the setup occurs. For trading beyond the initial setup, other techniques can be used, or alternative trade management can be used to remain in a winning position. For purposes of this report, the requirements were for a minimum of +10 pips per day.

I can go through the various charts and pairs we monitor and can present hundreds of different images and examples. The idea here is to present one of several trade techniques being successfully traded by our various prop groups.
I have written much about the OBB, MST and Dynamic Principles of GANN. I am now adding GoFXProFX1 to the mix.. why FX1? We trade the Forex and this system is based on the Daily Open (The One Thing).

Obviously some of the traders will add in their own inflections and reasons to trade or not to trade. I have tried to keep out any opinions and include as few variables (only those needed) as possible to keep it more of a methodical process.

I am sure others will have comments and remarks about this system which they think can make it better... ie: changing the moving average values, changing time periods, even adding other indicators. That is not what this is about. Everyone is free to experiment on their own to test as many tools as they choose. Word of caution.. an indicator moves when price moves (unless it is a special algorithm designed to forecast advance warnings). This system is designed to use price action, mean reversion, Fixed Price Analysis and established cycles. Yes, we can and do apply OBI-WAAN, OBB and MST systems into the mix.. but then, our traders are prop groups and have access to those tools and have been taught those techniques. I wanted to share with you how you can use basic price action principles and techniques to have consistent trading setup.

Thank you for allowing me to share with the group and this great forum.

Best Regards,

BoldTrader (BT)


Offline kroghy

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Re: The FREE FX1DO Trading System
« Reply #10 on: July 20, 2015, 09:52:04 AM »
I must say Bill that your free Skype room, live trading commentary, master program & FX1D system has been a great help to me.
You are a great teacher & I have seen many people being helped by your system.
I strongly encourage people to come by & see what is going on here.

-David

Offline Jon G

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Re: The FREE FX1DO Trading System
« Reply #11 on: July 20, 2015, 10:38:29 AM »
I've been learning FX1 for about a month now and my trading has turned a corner, from mediocre to "I could make a good living using this system."  

The free skype room & projections(+Bill on voice) is where I've learned more in a month than in the past year. It's well worth a visit!


Jon

Offline ElHondo

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Re: The FREE FX1DO Trading System
« Reply #12 on: July 20, 2015, 03:46:47 PM »
Hey everybody, I'll second Jon and Dave, FX1DO has brought on my trading in leaps and bounds. looking forward to making loads more pips in our new forum.

Cheers

Kit

Offline jeremym

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Re: The FREE FX1DO Trading System
« Reply #13 on: July 20, 2015, 04:18:37 PM »
Agree with those who've posted above.  Been learning from Bill for about a month now and have learned so much I didn't understand before.  Looking forward to being part of Donna Forex and to the live sessions that will be coming here soon.

Jeremy

Offline Bippo

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Re: The FREE FX1DO Trading System
« Reply #14 on: July 21, 2015, 03:48:26 PM »
Hello

first post here,invited by Bill
Today first time in the Trading Room,great knowledge shared there
glad to know you

Bippo
« Last Edit: July 21, 2015, 03:51:05 PM by Bippo »

 

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