Forex strategies revealed | FSR Forum

Is anyone trading this system as a "bread and butter" backbone system, as am I? I would like to start a discussion group based around this system..i.e. start a setup watch, so to speak. For examle, GBPJPY is closing below 9 EMA this day and ready for a short entry. I have waited for this set up for days. Is anyone interested, we could have a daily watch and comment group. Thanks to Edward, we may get to leave our day jobs at some point. Rebecca

Hi Rebecca,

I've been looking at the setup too, although haven't traded it.
Here is what my paper trade looked like: a negative development immediately after the entry, but since the stop is above the major top as well as above the Moving average, it holds fine, on Friday I'm breakeven.
For Monday, no change of tactics, sitting tight.

Hi, thanks for your response. Yes, I noticed same thing. I got in and out quickly with positive 100. Same thing happened with open of market this week with EURJPY, CHFJPY--immeditely in profit, which I did not take, and immediate turn in opposite direction. I am discouraged, as it takes so long to get the set up. Rebecca

Hi, I have been trading this system for quite some time...it is one of the best.
I am trying to figure out best entry...I would like to share knowledge with you all

This is one of the simplest and effective. Good entry and exit.

Hi all,

I just found out about this website and have been reading up on a lot of Edward & Co.'s strategies. They seem great.

I would love to be a part of this "setup watch" if people are still interested.

Right now Gbp/Jpy looks good. Attached is a screen of where I entered.

Thanks,
Kal

UPDATE on the trade tooked on March 29th. (http://forex-strategies-revealed.com/advanced/rsi-fullstochastic/cpage-38)

Both Stochastic lines are now above 80, and they are about to cross, I think that the trend is going to reverse so I believe that is wise to close the LONG trade now with 320 pips profit .

Not bad at all, 320 pips in seven business days.

I love this strategy, thank you Edward.

________________
Haydel

Hi - i have a question for the setup the Stochiastik . I have read the full strategy and edward mean, for Metatrader4 the Slow Stochiastik are the same as the Full Stochiastik from OANDA: But in my MT4 i see only the one Stochiastik - i cannot change the parameter within to Slow . . Any Help and suggestions ? thanks

Regarding the neat entry system, I have used it for a long time. However, with the stochastics exit, I found it gets you out too soon if the pair goes on a tear. As far as exits, and I have been looking into this lately, Van Tharp says use 3 times ATR (20) as a base line trail stop. You would be still out of the GBP trade, but if it had gone on, and I have seen it, you would have much more in the bag than 320 pts.

If you look at the signal for EUR on Feb 15th or so, and use the trailing stop of about 300pts (more or less 3x the ATR20 of 100pts) you would be out yesterday with about 750 pts in your vacation fund.



I love this system, but am looking at ways to extend the time in the trade and also to find out when the trend has changed so I can enter when the 150 is flat or near flat.

Another thing to look at is a RSI/ Stoch divergence when it is a trade near the 150 line. Divergence itself is not an entry signal, but a leading indicator that when coupled with your entry signal can certainly help with the probabilities.



I have been working with another trend following system for the last year or so, but I plan to come back to the Neat Entry as a system with Toyota-like reliability.

Grant

OK,

Here we go again, today May 6, 2011 we are near to a perfect setup for Neat Entry.

Price is above 150 SMA

RSI(3) went below 20 yesterday, giving a valid signal for a couple of days until Stoch's corss.

Stoch's are below 30 and about to cross.

If Stoch's cross between today and Tuesday, I will go LONG the moment they cross.

Happy trading,
_______________
Haydel