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Author Topic: Manual Trading Strategy - ProFx  (Read 454565 times)

Offline jtboe

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Manual Trading Strategy - ProFx
« on: May 25, 2009, 09:44:03 PM »
Well, this could be interresting if you take a look at the results these guys get.

http://forexeasystems.com/Manual%20Trading%20Strategy%20ProFX%20Archiv0509.htm

...and that's only for May...

The systems is used on all majors on 30M. $100 pr license including Custom indicators, Template, Brokerlist (?) and, of course a handy user manual  :D

Nedless to say, I'm very tempted but would like your opinion before I jump in (again)

Jan

Offline yidrasil

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Re: Manual Trading Strategy - ProFx
« Reply #1 on: May 25, 2009, 10:30:29 PM »
JT,

I had a look at ProFx back in April - it's a good solid strategy whose success is governed by the availability of trending markets (i.e. like many, it's weak in ranging and flat markets).  For me there are probably better systems out there but you could do worse than Profx.

PM me if you want to look into ProFx further.

All the best and good trading
« Last Edit: May 26, 2009, 09:35:57 AM by yidrasil »

Offline jtboe

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Re: Manual Trading Strategy - ProFx
« Reply #2 on: May 26, 2009, 09:18:56 AM »
Thanks Yidrasil,

I PM'd you. I just bought the system and will let you all know..

Offline jtboe

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Re: Manual Trading Strategy - ProFx
« Reply #3 on: May 26, 2009, 10:20:14 AM »
Thanks Yidrasil,

I PM'd you. I just bought the system and will let you all know..

...will do! I have to wait max 36hrs to get it though! This means max another 24hrs !

Jan

please keep updating us in here

Offline jtboe

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Re: Manual Trading Strategy - ProFx
« Reply #4 on: May 26, 2009, 07:55:35 PM »
Ok.. I bought it and here is the first result..

http://screencast.com/t/SLhMyDnwrtU

Only 42 pips but I started WAY to late in the US session and according to the manual I should exit when US session is finish. I find the MM in the manual very conservative, Suits me fine..

To be continued  :)

Jan


Offline jtboe

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Re: Manual Trading Strategy - ProFx
« Reply #5 on: May 27, 2009, 09:32:35 AM »

keep updating ;)

are you running it on a live account ? and this is no scalper is it ? do you know if their EA's are scalpers or trenders? looks to me they are not...

I always run live, HOWEVER on MICRO account and small lots :) I need to feel the stress in order to be careful! It's not scalper. Target is 100pips with a s/l around 25-75 pips. Never more than 100. They suggest to only trade WITH the trend so I check the H4 and daily before deciding.

Offline rickyc2511

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Re: Manual Trading Strategy - ProFx
« Reply #6 on: July 18, 2009, 01:26:47 PM »
Ok.. I bought it and here is the first result..

http://screencast.com/t/SLhMyDnwrtU

Only 42 pips but I started WAY to late in the US session and according to the manual I should exit when US session is finish. I find the MM in the manual very conservative, Suits me fine..

To be continued  :)

Jan



keep updating ;)

are you running it on a live account ? and this is no scalper is it ? do you know if their EA's are scalpers or trenders? looks to me they are not...


I too have been looking at this manual system, being more interested in longer term trading.
The results on their pages look great...but there is one serious anomaly that I have emailed them and asked to explain.
And that is,although they recommend using the Profx system on several major pairs, their results are only for gbp/usd-every trade,every month-without any results for any other pair.
I find this a bit strange, and will post back here with their reply.

In the meantime, is anyone using the system and getting good results? Their own published results for June09, look damn good, so do they match those of clients?

Any feedback appreciated.

Kind regards
ricky

Offline rickyc2511

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Re: Manual Trading Strategy - ProFx
« Reply #7 on: July 19, 2009, 01:56:14 AM »

Have had a reply to my questions regarding ProFX and how it works.
Not very impressed with their Customer Service rep "Alex" bull*** attititude.

When asked why there were no results for the other recommended currency pairs, all I got was "due to correlations we only trade the gbp/usd".

And there was also a rather smarmy comment about how a trader should know that.
Well sorry fella, but my question was addressing the fact that you recommend trading 4 pairs, and only show results for one-regardless of price correlation- not the best sales pitch for a system when you don't adequately explain your systems trade logic, correlation or not.

So I sent another email asking for more detail on the fundamental trading logic of this system and how the takeprofit and stoploss is set-which isn't evident on the promo pages. A 100 pip takeprofit is clear to see, but the exit point isn't.

Awaiting a reply, and will post when received.
I quite like what their results page say for this system,but if the patronising attitude of their Customer Service is indicative of their company culture, then I would rather deal with more professional and friendly outfits.

I would still love to see some results form anyone trading this system?

kind regards
ricky

Offline rickyc2511

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Re: Manual Trading Strategy - ProFx
« Reply #8 on: July 19, 2009, 04:36:26 AM »
Hey

I will start demoing it starting next week... it seems promising... but I don't know.

The S/L you refer usually is within 50 pips distance... they refer you should use a swing high or swing low with a SL of 50-75 pips if more, skip the trade...




Hi Sal,

I will follow your posts as you start demoing. I like the look of it too, but like you, there is something bugging me with this system that I can't quite put my finger on.Perhaps it's the regularity of the +100pip results and very few losses.

I wish I could do that with my own manual trading!

I have a sneaky feeling that all is not as appears.
I hope to be proven wrong, but we shall see.

regards
ricky
« Last Edit: July 19, 2009, 04:43:25 AM by rickyc2511 »

Offline Istherehope

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Re: Manual Trading Strategy - ProFx
« Reply #9 on: July 19, 2009, 04:27:18 PM »
I also installed this strategy on the four pairs recommended.
the exit strategy seems to be left to the trader guess ???

One of its indicators is a MA period 10 I just checked on my platform and it matches.
I am using a non lag moving average to exit because seems to be a better strategy.
This system trades on M30 charts and if you wait for the 100 pips you will get whipsawed on the other pairs besides GBP at least visually.

The guy also recommends trading with the 4h trend.
Well lets see

Offline Istherehope

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Re: Manual Trading Strategy - ProFx
« Reply #10 on: July 19, 2009, 07:07:29 PM »
For the GBP it is, but if you check the M30 charts last week a TP of 100 pips for most of the pairs is to much. Of course several pairs were only trade ranging.
I am just trying to use it as a scalp strategy to due to the fact of using Sniper FX on GBP

Offline jamesfrance

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Re: Manual Trading Strategy - ProFx
« Reply #11 on: July 19, 2009, 07:12:59 PM »
I also installed this strategy on the four pairs recommended.
the exit strategy seems to be left to the trader guess ???

One of its indicators is a MA period 10 I just checked on my platform and it matches.
I am using a non lag moving average to exit because seems to be a better strategy.
This system trades on M30 charts and if you wait for the 100 pips you will get whipsawed on the other pairs besides GBP at least visually

The guy also recommends trading with the 4h trend.
Well lets see

no the exit is a TP of 100 pips or the SL which is at a 50-75 pip distance

Salvador,What do you mean by "50-75 pip distance" distance from what?
As I see losses of -5 ,-16,-18,-33 and -37 on the statement in the first post.

Offline jamesfrance

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Re: Manual Trading Strategy - ProFx
« Reply #12 on: July 19, 2009, 08:47:11 PM »
I also installed this strategy on the four pairs recommended.
the exit strategy seems to be left to the trader guess ???

One of its indicators is a MA period 10 I just checked on my platform and it matches.
I am using a non lag moving average to exit because seems to be a better strategy.
This system trades on M30 charts and if you wait for the 100 pips you will get whipsawed on the other pairs besides GBP at least visually

The guy also recommends trading with the 4h trend.
Well lets see

no the exit is a TP of 100 pips or the SL which is at a 50-75 pip distance

Salvador,What do you mean by "50-75 pip distance" distance from what?
As I see losses of -5 ,-16,-18,-33 and -37 on the statement in the first post.

from the entry point...

they have those losses because they exit once the indicators tell them to

Ok thanks Salvador.

It does look interesting but it would be nice to see some results if anyone is actually using it

Offline sweetpopcorn

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Re: Manual Trading Strategy - ProFx
« Reply #13 on: July 20, 2009, 05:36:37 PM »
First day first win...

´+100 pips

20/07/2009 +100 pips
What currency pair, Salvador?

Offline sweetpopcorn

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Re: Manual Trading Strategy - ProFx
« Reply #14 on: July 21, 2009, 06:20:19 PM »
21/07/2009   +100 pips GBP/USD
Wow! 

Is it easier to trade using the semi-auto system as compared to LMT or SFB? 

 

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