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Bug fixes:
- The trailing stop code would interfere with trades on other pairs.
- The InitialTarget exit wasn’t working for shorts, only for longs.
- Fixed spread inclusion in trailing logic for shorts — still not 100% sure
it’s correct though…

The new version is included in the zip as TrendScalper_TR_openbarstrail.mq4,
along with backtests for both versions in latestbacktests.zip. Note that
TrendScalper_TR was optimized on 2005 Jan-Sept data only and this is the
first backtest on MT4 data for 2004, so it’s clear the settings aren’t just a curve fit.
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Many traders aspire to be successful traders, but few succeed. An amateur trader looks at the Trading platform, makes a trade and loses, makes another trade and loses more. Traders lose because the game is hard and they trade with emotions, lacking a purpose and discipline. If any of these relates to you, I write the book for you, for I too was in this position once!

Many traders keep making impulsive trades; they do not have any trading plans or a system, and no money management rules. To put it simply, an amateur trader will cut short his profits, and let the losses run. Professional Traders accept the importance of psychology, yet the novice traders ignore it. You have to practice sound money management and you should watch your capital. In my opinion the markets only exist because losers bring money into the market, which is necessary for the Industry.

This book is unique in that it takes you the trader, to devise your own trading philosophy, build your own methodology,-; a trading system which is your own, and not fed to you by the currently “hot” guru-., It guides you to develop your own trading plan.
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At the first time i learn Forex trading i just use moving average, stoch, bolinger,etc. But i listen everybody use fibonacci for their analysis, until i work at Futures Company their using fibonacci to. Then i start learning from any source, until now i use fibonacci for my every open position. well if your new you should learn is great everybody use it for their analysis.

Note:

1. Not all Fib levels are alike.
2. No technical study is perfect, you must develop the skills to filter out bad trades,
and improve the odds of finding better trades.
3. Price action just before a Fib retracement can tell you something about the future.
4. Which Fib level causes the end of a retracement also can give a hint to future
price action.
5. No technical study is perfect, you must develop the skills to filter out bad trades,
and improve the odds of finding better trades.

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When the first time i trade online Forex i found this great e book from ForexFactory.com maybe you will find the thread at the first page at ForexFactory.com. Phillip Nel really tech me how to use MACD at 4 hour time frame, but not just like that i try making the 89 Simple Moving Average at the 30mnt and 1 hour time frame it give me some pips to hehehhe, btw this really great e book Two Thumbs UP for Phillip Nel if i can i wanna give three or five Thumbs UP ….

View cut from the e book;

I stopped counting the pips for the April 2006 testing as it completely
convinced me of the success of this method. I randomly tested it using previous years
and the results were amazing. Average of 300+ pips per month and then I only trade
the trades that gives signals at these times 17:00, 21:00 and 01:00 (GMT +2). It gives
between 8-10 deals per month using the mentioned timeframes.. (I use Metatrader and
data supply by MIG.)
If you use patterns in the MACD that occur regular that gives results and use
them every time they occur you will most definitely make money.
I haven’t discuss nor used trendlines so far in this document and when you add
them it will most definitely helps you in defining your exit levels. The entry level are
determine by the MACD but the exit or profit levels is determine by support and
resistance levels. I use the moving averages as described earlier as well as Fibonacci
levels and then most definitely trendlines and price levels. I normally take the daily
graph and draw the trendlines according to it and then go to the 4 hour graph. I make
them nice and thick so that I can see them. Then I draw the different price levels such
as 1.2900, 1.3000, 1.3100 etc. It is amazing to see how the price find support and or
resistance at these levels.
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Simple Forex trading system from THE CURRENCY TRADER’S HANDBOOK,
it only work if you discipline with your trading
some cut from the e book is ;

Your goal will be to:
1. Enter positions as soon as a particular signal is given.
2. Exit the position as soon as a particular signal is given.

The payoff will be:
1. The emotion should be gone from the trading.
2. You will enter and exit trades with discipline and focus.
3. You will get about 25 pips on the good trades. Maybe 30 and maybe even 50. There will be more winning trades than losing trades. The average loss will be about 25 pips.
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