Recently I found the Simple System from "Julius" known as Trader 101.
Today I wanted to post my opinion/contribution to the thread Simple Tradding Method With Trader 101, but unfortunately for some reason I do not know I do not have sufficient previlegies to do that, and so, I decided to open this thread just to post my point of view on T101 system.
Ok, I have not finished reading all thread (I am about over page 100) but like many others (trendchaser for instance), the basics of the system are on first 30 pages. All other pages acts like usuall "indicators" that the main function is to distract us and increase the misunderstanding of a system that is not simple as appears for most of readers/traders (including me).
On that thread, besides a great system (which I do not fully understand), I found great indicators and tools like those one developed by Orest, Trendchaser and Crodzilla (including Julius itself), that really help me "trying" to understand this system and make my own thoughts.
I have found lots of questions that myself wanted to see answered but, in fact some of them I get no answer at all even from T101 the guru of the system. The best answer I read from him was something like "...test the system in several ways and find your best trading style...".
I have tryed myself to use both systems (jumping pairs and 14 pairs) and even wanted to know more about phasis 2 and 3. I give up. I have decided to go back to the first method (jumping pairs) and I really started making some pips (even thinking that are just demo pips). I think that when I "mastered" the first method I will think about a higher level.
Enough of bla bla bla (please, if this post distracts you or makes the system more complicated somehow, please just ignore it, because as I say, I do not understand the T101 system).
1. The system works as "teached" by Julius, on post #1 of his thread.
2. I mainly use Orest indicator to follow the market move on several timeframes.
3. The weekly, daily and 4H timeframes are the one I am interested on. The other one just helps me to try to find if a change could occur.
4. On this MAIN timeframes, I look for a jumping pair. When its occur, I follow its profit/loss. My target is a value above +70 and/or below -70. Trying to explain:
- The pair USDCAD jumps up lets say on Daily colum. I'll wait for a profit of +70. When I reach this profit I enter with BUY trade.
- Since usually when we have a pair jumping up, there will a corresponding jumping down pair, when it happens I also look for a -70 profit on this pair. If it happens I enter the market with an additional BUY trade, and so on for every pair that jumps to the oposite side until they are on the perfect SETUP (in this example all BUY UP, and all SELL DOWN), because when it happens, "it will be time to wait to market revert itself to SELL".
Attached I post some screenshots of the exposed situations and a sample trade made today that the time I taken it was on +100 pips already.
On the screenshot you will see on 4H Column that USDCAD and USDJPY jumped up and are with a profit of +70. Also, the GBPCHF and USDCHF are on the oposite side (SELL) and the profit is -70 more. I made this 4 trades.
If someone of you that used the system and understand it can correct me, it would be great.
Thank you very much for the people I referred here and regards
Paulo
Today I wanted to post my opinion/contribution to the thread Simple Tradding Method With Trader 101, but unfortunately for some reason I do not know I do not have sufficient previlegies to do that, and so, I decided to open this thread just to post my point of view on T101 system.
Ok, I have not finished reading all thread (I am about over page 100) but like many others (trendchaser for instance), the basics of the system are on first 30 pages. All other pages acts like usuall "indicators" that the main function is to distract us and increase the misunderstanding of a system that is not simple as appears for most of readers/traders (including me).
On that thread, besides a great system (which I do not fully understand), I found great indicators and tools like those one developed by Orest, Trendchaser and Crodzilla (including Julius itself), that really help me "trying" to understand this system and make my own thoughts.
I have found lots of questions that myself wanted to see answered but, in fact some of them I get no answer at all even from T101 the guru of the system. The best answer I read from him was something like "...test the system in several ways and find your best trading style...".
I have tryed myself to use both systems (jumping pairs and 14 pairs) and even wanted to know more about phasis 2 and 3. I give up. I have decided to go back to the first method (jumping pairs) and I really started making some pips (even thinking that are just demo pips). I think that when I "mastered" the first method I will think about a higher level.
Enough of bla bla bla (please, if this post distracts you or makes the system more complicated somehow, please just ignore it, because as I say, I do not understand the T101 system).
1. The system works as "teached" by Julius, on post #1 of his thread.
2. I mainly use Orest indicator to follow the market move on several timeframes.
3. The weekly, daily and 4H timeframes are the one I am interested on. The other one just helps me to try to find if a change could occur.
4. On this MAIN timeframes, I look for a jumping pair. When its occur, I follow its profit/loss. My target is a value above +70 and/or below -70. Trying to explain:
- The pair USDCAD jumps up lets say on Daily colum. I'll wait for a profit of +70. When I reach this profit I enter with BUY trade.
- Since usually when we have a pair jumping up, there will a corresponding jumping down pair, when it happens I also look for a -70 profit on this pair. If it happens I enter the market with an additional BUY trade, and so on for every pair that jumps to the oposite side until they are on the perfect SETUP (in this example all BUY UP, and all SELL DOWN), because when it happens, "it will be time to wait to market revert itself to SELL".
Attached I post some screenshots of the exposed situations and a sample trade made today that the time I taken it was on +100 pips already.
On the screenshot you will see on 4H Column that USDCAD and USDJPY jumped up and are with a profit of +70. Also, the GBPCHF and USDCHF are on the oposite side (SELL) and the profit is -70 more. I made this 4 trades.
If someone of you that used the system and understand it can correct me, it would be great.
Thank you very much for the people I referred here and regards
Paulo