Reversal Magic trading system - page 8
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But you have changed your expected GBPUSD expected high to the 10th..It wasnt that before, it was after, what was it?
Because in my post on the 10th i said high was already in for down which it did...
But you have changed your expected GBPUSD expected high to the 10th..It wasnt that before, it was after, what was it? Because in my post on the 10th i said high was already in for down which it did...
The 10th has been the expected reversal for quite some time. That has not changed. Perhaps what you are thinking about is that it was to be an expected low nearly a week before it occurred, but was changed to an expected high a couple of days before it occurred due to what was happening in the market. This was changed on the 6th and so has been referred to an expected high since then.
MJP
Interesting approach which I am watching but a mixed picture.
Today the EUR/USDhourly upturn reversal for 3/14/08 (= Update 1) @ 12:00-13:00 was very precise as well the the daily high on this Friday.
On the other hand, the GBP/JPY dailyreversals for 3/14/08 (= Update 1) stated :
Daily
3/06/08-high
3/12/08-low expected (= Wednesday)
3/18-08-high expected
However, the GBP/JPY was ~ 205,00 @ 3/12/08.
Today, the GBP/JPY is just ~ 200,00 @ 3/14/08 thus ~ 500 pips lower.
Thus the low expected came two days later.
Let's see what we have on 3/18-08!
Forecasting was/is a difficult thing.
Interesting approach which I am watching but a mixed picture.
Today the EUR/USDhourly upturn reversal for 3/14/08 (= Update 1) @ 12:00-13:00 was very precise as well the the daily high on this Friday.
On the other hand, the GBP/JPY dailyreversals for 3/14/08 (= Update 1) stated :
Daily
3/06/08-high
3/12/08-low expected (= Wednesday)
3/18-08-high expected
However, the GBP/JPY was ~ 205,00 @ 3/12/08.
Today, the GBP/JPY is just ~ 200,00 @ 3/14/08 thus ~ 500 pips lower.
Thus the low expected came two days later.
Let's see what we have on 3/18-08!
Forecasting was/is a difficult thing.The forecast was correct. You need to read the rules again.
In case you missed it, the expected direction (high or low) is only an expectation. The prediction is for a reversal only. In this case it ended up being a high and reversed on time.
As I stated in one of my earlier posts, we add the expected direction to make it easier, but you have to trade these reversals based on what actually occurs just before and at the signal candle, not based on what we state as an expectation.
Since I have not posted any signals for a few days here there certainly has been no update from us here in order for to make a change. But whether we made a change or not in any report it is pretty obvious that it was going to be a high at the time it occurred. We had an upswing the day before and it could hardly be considered a low.
The point is that these are REVERSAL signals and what a signal it has proved to be so far!
MJP
Reversals
The forecast was correct. You need to read the rules again.
In case you missed it, the expected direction (high or low) is only an expectation. The prediction is for a reversal only. In this case it ended up being a high and reversed on time.
As I stated in one of my earlier posts, we add the expected direction to make it easier, but you have to trade these reversals based on what actually occurs just before and at the signal candle, not based on what we state as an expectation.
Since I have not posted any signals for a few days here there certainly has been no update from us here in order for to make a change. But whether we made a change or not in any report it is pretty obvious that it was going to be a high at the time it occurred. We had an upswing the day before and it could hardly be considered a low.
The point is that these are REVERSAL signals and what a signal it has proved to be so far!
MJPHi everybody,
As I have stated at this thread,several years ago I bought the reversal cds,but had problems getting the nuances of the system,that made it a frustrating endeavour .
On Thursday,Michael(Reversal) spent about 90 minutes with me,one on one,to help me in getting them and thus be able to incorporate the method into my trading .
While we were at it,with both the m15 and m5 timeframes,he pointed to me to a GBPJPY next bar that was to be a reversal...I was long at the time,he didn`t know it..the bar had like 65 pips range,I closed my position at around 55 pips above beginning of bar..then the bar reversed,and the short term market with it...so
1-Is the system helpful?You bet it is.
2-Is the system seller,honest and reliable?You bet he is..how many sellers you know that invest 90 minutes with a client from 3 years ago,one on one,pinpointing reversals real time?
3-Are the reversals pinpointed as top bottoms working as such?NO...they usually work as reversals,but you don`t know if it is a top or a bottom until you see the behaviour of the bar,actually ,while we were looking at the gbpjpy,Michael mentioned that it looked like a low was coming(and,frankly,it looked like it
),but once in the bar,we knew-because it was evident just by seeing the bar behaviour-that it was to be a high,not a low.
4-Is the system easy to learn?Yes,it is so simple that it still astonishes me..easy to implement?NO..you need to get the nuances of it,and to do so you have to read the manuals for the 3 systems,invest some time at his website with additional material and examples, spend several hours pinpointing reversals on your own,and then ask Michael to help you either one on one or in a small group webinar...at least,this is what worked for me
5-Is the system the Holy Grail?No,it is just a helpful tool,specially if integrated first with another of his systems(BM) that works on price,then with your own actual method of trading...and this takes some time,BUT gives much reward
...
Michael has not asked me to do a review nor did he even hinted at it ,I haven`t known from him since Thursday.When we finished the "lesson", he just told me to contact him next week to setup a new lesson if I experienced any problems or additional doubts with the system...I think this wraps it up better than anything I could add.
Hi everybody,
As I have stated at this thread,several years ago I bought the reversal cds,but had problems getting the nuances of the system,that made it a frustrating endeavour .
On Thursday,Michael(Reversal) spent about 90 minutes with me,one on one,to help me in getting them and thus be able to incorporate the method into my trading .
While we were at it,with both the m15 and m5 timeframes,he pointed to me to a GBPJPY next bar that was to be a reversal...I was long at the time,he didn`t know it..the bar had like 65 pips range,I closed my position at around 55 pips above beginning of bar..then the bar reversed,and the short term market with it...so
1-Is the system helpful?You bet it is.
2-Is the system seller,honest and reliable?You bet he is..how many sellers you know that invest 90 minutes with a client from 3 years ago,one on one,pinpointing reversals real time?
3-Are the reversals pinpointed as top bottoms working as such?NO...they usually work as reversals,but you don`t know if it is a top or a bottom until you see the behaviour of the bar,actually ,while we were looking at the gbpjpy,Michael mentioned that it looked like a low was coming(and,frankly,it looked like it
),but once in the bar,we knew-because it was evident just by seeing the bar behaviour-that it was to be a high,not a low.
4-Is the system easy to learn?Yes,it is so simple that it still astonishes me..easy to implement?NO..you need to get the nuances of it,and to do so you have to read the manuals for the 3 systems,invest some time at his website with additional material and examples, spend several hours pinpointing reversals on your own,and then ask Michael to help you either one on one or in a small group webinar...at least,this is what worked for me
5-Is the system the Holy Grail?No,it is just a helpful tool,specially if integrated first with another of his systems(BM) that works on price,then with your own actual method of trading...and this takes some time,BUT gives much reward
...
Michael has not asked me to do a review nor did he even hinted at it ,I haven`t known from him since Thursday.When we finished the "lesson", he just told me to contact him next week to setup a new lesson if I experienced any problems or additional doubts with the system...I think this wraps it up better than anything I could add.Thanks for the comments Simba.
Thought I would post a few signals and a chart of recent signal results. Of course, anyone can get the signals on a free trial if they want at Forex Reversals
GBP/USD Reversals
Hourly
13:00-14:00(3/26/08)
15:00-16:00
17:00-18:00
21:00-22:00
1:00-2:00*(3/27/08)
5:00-6:00*
8:00-9:00*
12:00-13:00*
USD/CAD Reversals
Hourly
11:00-12:00(3/26/08)
13:00-14:00
17:00-18:00
20:00-21:00
0:00-1:00*(3/27/08)
4:00-5:00*
7:00-8:00*
11:00-12:00*
USD/JPY Reversals \
Hourly
12:00-13:00(3/26/08)
14:00-15:00
19:00-20:00
22:00-23:00
1:00-2:00*(3/27/08)
4:00-5:00*
7:00-8:00*
10:00-11:00*
GBP/EUR Reversals
Hourly
11:00-12:00(3/26/08)
14:00-15:00
17:00-18:00
19:00-20:00*
22:00-23:00
2:00-3:00*(3/27/08)
5:00-6:00*
8:00-9:00*
13:00-14:00*
EUR/USD Reversals
Hourly
10:00-11:00(3/26/08)
15:00-16:00
18:00-19:00
21:00-22:00
1:00-2:00*(3/27/08)
5:00-6:00*
10:00-11:00*
I visited your site and your performance links don't work. I am still wary of this method, but if you look on a chart there are so many reversal points you will have lines all the place and it's bound to hit one of them with even a minor reversal, so please post the pips with profit (account statement) you make per day by trading these reversal lines to show us you put your own money where your mouth is.
I visited your site and your performance links don't work. I am still wary of this method, but if you look on a chart there are so many reversal points you will have lines all the place and it's bound to hit one of them with even a minor reversal, so please post the pips with profit (account statement) you make per day by trading these reversal lines to show us you put your own money where your mouth is.
I agree. It looks like he plots a different reversal line every 2 hours. I could do that too.
Hi everybody,
As I have stated at this thread,several years ago I bought the reversal cds,but had problems getting the nuances of the system,that made it a frustrating endeavour .
On Thursday,Michael(Reversal) spent about 90 minutes with me,one on one,to help me in getting them and thus be able to incorporate the method into my trading .
While we were at it,with both the m15 and m5 timeframes,he pointed to me to a GBPJPY next bar that was to be a reversal...I was long at the time,he didn`t know it..the bar had like 65 pips range,I closed my position at around 55 pips above beginning of bar..then the bar reversed,and the short term market with it...so
1-Is the system helpful?You bet it is.
2-Is the system seller,honest and reliable?You bet he is..how many sellers you know that invest 90 minutes with a client from 3 years ago,one on one,pinpointing reversals real time?
3-Are the reversals pinpointed as top bottoms working as such?NO...they usually work as reversals,but you don`t know if it is a top or a bottom until you see the behaviour of the bar,actually ,while we were looking at the gbpjpy,Michael mentioned that it looked like a low was coming(and,frankly,it looked like it
),but once in the bar,we knew-because it was evident just by seeing the bar behaviour-that it was to be a high,not a low.
4-Is the system easy to learn?Yes,it is so simple that it still astonishes me..easy to implement?NO..you need to get the nuances of it,and to do so you have to read the manuals for the 3 systems,invest some time at his website with additional material and examples, spend several hours pinpointing reversals on your own,and then ask Michael to help you either one on one or in a small group webinar...at least,this is what worked for me
5-Is the system the Holy Grail?No,it is just a helpful tool,specially if integrated first with another of his systems(BM) that works on price,then with your own actual method of trading...and this takes some time,BUT gives much reward
...
Michael has not asked me to do a review nor did he even hinted at it ,I haven`t known from him since Thursday.When we finished the "lesson", he just told me to contact him next week to setup a new lesson if I experienced any problems or additional doubts with the system...I think this wraps it up better than anything I could add.Is the course expensive? I can't find the price listed anywhere or the store they mention.
Do you need a lot of time to figure out the reversals yourself?(Do you have to program complicated formulas?)
I visited your site and your performance links don't work. I am still wary of this method, but if you look on a chart there are so many reversal points you will have lines all the place and it's bound to hit one of them with even a minor reversal, so please post the pips with profit (account statement) you make per day by trading these reversal lines to show us you put your own money where your mouth is.
The site is new, so not everything is working just yet. I have someone contracted to work on the site and I would expect them to get to the performance part soon.
MJP