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Swing Trader PRO System (By swingtraderpro )

Gain : +11625.9%
Drawdown 100.00%
Pips: 19938.8
Trades 450
Won:
Lost:
Type: Real
Leverage: 1:200
Trading: Manual

Swing Trader PRO System Discussion

Way2Riches
Nov 06 2015 at 17:01
34 posts
Pablo51 posted:
HI,

It is my first post here and I want to congratulate this community for the tons of useful information you provide to all traders.

I have been operating Swing trader pro for a month or so and I would like to share my experience.

So far I am very happy with the results but you must be aware of the following issues:

1. I am not risking more than 1% per trade. I am trading 18 pairs which normally means my open risk is about 5% at every moment.

2. Trades last a lot. My average is no less than 7 days.

3. Get ready for the trades to go south for a long time.

4. It is not a EA. It is a n indicator. It suggests you SL and TP points.

5. For successful operation you will have to adjust manually both for succesful trades.

6. It is not for beginners. You need to use judgement to close trades manually.

Overall it is a good indicator if you have experience in trading. Otherwise I believe it is nor for you.

And it requires a lot of patience and cold blood.

Forget about achieving the results showed in the myFxbook unless you take crazy risks. If your positions are to big the time the trades are in negative may create easily a margin call. Be prudent with your risk management.

Having said that I believe it is a good indicator.

Good trades.

Pablo51 Its good to hear from you and thanks for sharing. I agreed to take risk 1 % and up to 5 % maximum for each trades. I am looking to give it a try and but these days its very hard to have neutral and honest reviews. I am thinking this system can works if it help us to have correct profit taking , SL as well as how much pips can change in a direction . Please keep update then we can find a right conclusion about this system.

channeltraderpro
Nov 06 2015 at 18:14
41 posts
Sorry guys I haven't been chatting here much if you need to reach me you can reach me via email.

Also it's 1 account per license so the person who asked about the group buy, it's not possible.

Rob Scelfo (Dionysus231)
Nov 06 2015 at 19:31
67 posts
Pablo

Totally agreed. I think you can achieve the same win rate as the vendor. But as far as growing your account as fast you would have to be risking everything on a few trades. The system is good. But using this system you have to be very disciplined. A lot of new traders are not. You will get a lot of trade alerts. About 2-3 a day. So you have to keep your risk per trade very low to avoid margin calls. That's where I made my rookie mistakes. You have to have very good money management skills for this system. And patience. Some of the trades will last 15 days. But I think the entry and exit points are really accurate. I've been taking some money management classes and I'm going to give this system another shot. I was using at the same time as pivot trader channel and vortex. So I had way too many open trades with high drawdowns and too high lot sizes. It's amazing how bad money management can ruin even some very good systems.

Rob Scelfo (Dionysus231)
Nov 06 2015 at 20:05
67 posts
Pablo

Do you check for news events before you enter a trade with this system? Can someone briefly explain how to do that. Perhaps a resource where to find the news. Just to make sure your trade won't be affected

SST (superswingtrader)
Nov 07 2015 at 08:00
10 posts
understood we thought abt trading one account per license trade demo for 2months together between as a group mate and thoroughly understand pros and cons like paolo did.

SST (superswingtrader)
Nov 07 2015 at 08:00
10 posts
MikeGC posted:
Hi SST, I support your idea and look forward to seeing how you go. Unfortunately I can't join you as yet because I have other commitments till after Christmas. Would be happy to consider it then, but am not sure how it can be shared as there is probably a license agreement and a linking code stopping this.

Perhaps Doug could advise on this matter.


Doug advised about its one account per license, we can trade one demo account together with it for 2 months MikeGC to understand this system if the system is good for us then we can go live buying another license.. p.m me mate on coordinating cheers

Way2Riches
Nov 08 2015 at 12:19
34 posts
Hello everyone hope you all well and good. I would like to know whether this system sensitive to fundamentals that as per risk events follows up is it send good signals and correctly warn the how much pips change in a particular direction ? or when sudden opportunities arrives in the market how far it helps to take that chance ? I every agreed about using this system with sound money management .
Thanks

BigSteve
Nov 09 2015 at 02:23
101 posts
I think I will pass due to draw down other traders experience. 5 to 7 days is too long to keep open a trade, especially in the red going south. Trades kept open over 1-2 days is gambling unless firmly into the trend and entered on pivot or SR going into green zones. If trades are open for 5-7 days then how would you prepare for major news announcements? Maybe the indicator would be safer if reworked for lesser conditions, even to signal a fresh crossover on 2 TF's etc? No reason for week long trades with an NFP announcement coming, Your good results are luck, or your loss is assured, This represents some lost opportunity, but if it works for you as a good indicator then go for it.

Way2Riches
Nov 09 2015 at 13:14
34 posts
BigSteve posted:
I think I will pass due to draw down other traders experience. 5 to 7 days is too long to keep open a trade, especially in the red going south. Trades kept open over 1-2 days is gambling unless firmly into the trend and entered on pivot or SR going into green zones. If trades are open for 5-7 days then how would you prepare for major news announcements? Maybe the indicator would be safer if reworked for lesser conditions, even to signal a fresh crossover on 2 TF's etc? No reason for week long trades with an NFP announcement coming, Your good results are luck, or your loss is assured, This represents some lost opportunity, but if it works for you as a good indicator then go for it.


Depends on risk taking for opening positions for long time and your system calculation as well overall fundamental factors. In many cases correct to take profit in the right levels and exit with your gains. Most important is where to take profit correctly.

Pablo51
Nov 10 2015 at 08:02
91 posts
Hi,

For those interested in following the system performance I entered a sell trade couple of hours ago.

USDJPY price 123.407 SL 126.092 TP 121.014.

We will see.

BidSteve,

Respecting your opinion as it could not be in a different way, trades that last more than two-four days are absolutely normal for those (like me) operating in 4H or 1D timeframes. As way2Riches mentions, performance depends on your trading system and money management.

Regarding news announcements, frankly I do not care much because in the timeframes I work the impact is not so important and, more important, considering that the effect of news are uncertain sometimes the announcements benefit me and sometimes not. Therefore I do simply ignore them. Remember I do operate 18 pairs and therefore my system is not correlated to any particular currency.


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