Author Topic: MBFX SYSTEM  (Read 55151 times)

Offline CAJUN

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MBFX SYSTEM
« on: May 13, 2011, 12:38:26 am »
Came across this system today, haven't purchased it yet, checking to see if anyone is using this system, looks very easy to use. Can be used for Scalper, Day Trading and Long Term Trading.
www.mbfxsystem.com

CAJUN
« Last Edit: May 13, 2011, 12:42:05 am by CAJUN »
"The return (OF) you money is more important than the return (ON) your money!"

Offline cuinicu

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Re: MBFX SYSTEM
« Reply #1 on: May 13, 2011, 01:24:44 am »
I am sure I have seen this indicator before somewhere can't remember where or what  it was called though.

Cheers
« Last Edit: May 13, 2011, 01:27:15 am by cuinicu »

Offline chairman

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Re: MBFX SYSTEM
« Reply #2 on: May 13, 2011, 02:55:08 am »
We got it a few days ago, did enough demo trades to feel happy with it, now using it on a real account. It's doing exactly what it promised (i.e. making money) so far.

The documentation is awful but there's not a lot to figure out - just cherry pick the perfect setups (it works on most pairs and most timeframes so there is always something cooking) and make sure they are still setups when it redraws the lines after the candle you've been watching completes.

Gary

Offline cutman

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Re: MBFX SYSTEM
« Reply #3 on: May 13, 2011, 04:36:19 am »
Hello chairman, great to hear. I have also bought it a few days ago and seemed to have picked the losers. I have been trading the 15m charts and wait for the candle to close first after the indicator turns yellow, as I found that it repaints.
You mention that you cherry pick your trades, would you care to elaborate, as I have been taking the trades as they come according to the basic rules, if price touches the green or red, the indicator turns yellow I take the trade, and close the trade as price hits the blue line..

Cheers.

Offline CAJUN

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Re: MBFX SYSTEM
« Reply #4 on: May 13, 2011, 08:26:14 am »
According to there website it's as simple as that, sell red - buy green and close blue. I am very interested in this but it seems like i am getting mixed reviews.

CAJUN
"The return (OF) you money is more important than the return (ON) your money!"

Offline CAJUN

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Re: MBFX SYSTEM
« Reply #5 on: May 13, 2011, 08:28:54 am »
chairman, what time frames are you trading on, is it scalper, day trading or long term or all of the above. Which timeframe does it work best on.

CAJUN
"The return (OF) you money is more important than the return (ON) your money!"

Offline jrwaters67

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Re: MBFX SYSTEM
« Reply #6 on: May 13, 2011, 08:03:23 pm »
I am sure I have seen this indicator before somewhere can't remember where or what  it was called though.

Cheers

Not 100% sure, but it looks similar to the CoG (Center of Gravity) indicator.

Offline agathos23

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Re: MBFX SYSTEM
« Reply #7 on: May 14, 2011, 03:42:11 am »
I am sure I have seen this indicator before somewhere can't remember where or what  it was called though.

Cheers

Not 100% sure, but it looks similar to the CoG (Center of Gravity) indicator.

You're right since both the CoG system and MBFX were both designed by Mustapha Belkhayate anyhow.

Offline Matuka1968

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Re: MBFX SYSTEM
« Reply #8 on: May 14, 2011, 09:47:30 am »
Hello,

I use this sytem. 4 hour timeframe work well. I made 270 pips last week in AUDUSD, NZDUSD.

Matuka1968

Offline CAJUN

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Re: MBFX SYSTEM
« Reply #9 on: May 14, 2011, 09:50:53 am »
Hello,

I use this sytem. 4 hour timeframe work well. I made 270 pips last week in AUDUSD, NZDUSD.

Matuka1968
Thanks for the report, is this on demo or live and how long have you been using it. Do you ever notice false signals, etc.

Good Luck
CAJUN
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Offline kjen17

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Re: MBFX SYSTEM
« Reply #10 on: May 14, 2011, 09:51:09 am »
the pipsnager guy is promoting it like crazy, presumably he is an affiliate. He has posted this video about it
 


funny he says the manual it only 2 pages because English is not the creator's first language; i'd have thought a millionaire trader would somehow be able to pay for a bit of translation,  ;D

Offline Matuka1968

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Re: MBFX SYSTEM
« Reply #11 on: May 14, 2011, 10:07:19 am »
I used in demo first of course. 4 hours timeframe signals are working well. Never gave false signals.

Maybe it will work long term..

Matuka1968

Offline cloudsifter

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Re: MBFX SYSTEM
« Reply #12 on: May 15, 2011, 06:31:29 pm »
Hello chairman, great to hear. I have also bought it a few days ago and seemed to have picked the losers. I have been trading the 15m charts and wait for the candle to close first after the indicator turns yellow, as I found that it repaints.
You mention that you cherry pick your trades, would you care to elaborate, as I have been taking the trades as they come according to the basic rules, if price touches the green or red, the indicator turns yellow I take the trade, and close the trade as price hits the blue line..

Cheers.


Jason Sweezey (Pipsnager guy) has posted a video regarding the "repainting".
http://www.youtube.com/user/SuperSnager#p/u/0/0M5S0qkjetI

Offline chairman

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Re: MBFX SYSTEM
« Reply #13 on: May 16, 2011, 12:57:21 am »
You mention that you cherry pick your trades, would you care to elaborate
You've got the rules right, just a matter of figuring out what signals to ignore. Jason mentioned most of the things I look for in his latest video - it should be an obvious touch on the red/green lines that you can see without squinting or checking the numbers, it shouldn't be going sideways, the wave should be facing the way you want to trade, there should be enough pips between entry and the blue line to be worth it, it shouldn't look like an obvious dog, that sort of thing ...

My best use so far has been picking scalp entries on 5 min charts - I use it as an entry signal, I'm vicious about moving my stop to breakeven, and the blue line is just a suggestion - if it looks like stopping I'm gone. You can have 16 charts open at once at a usable size, all you need to do is scan every few minutes for price to be at a red or green line. Once you see that you can make the chart bigger and have a better look ...

Hope that helps.

Offline NedKelly

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Re: MBFX SYSTEM
« Reply #14 on: May 17, 2011, 11:18:15 am »
The regression channel that is the basis of this system was coded two and a half years ago and can be downloaded from the metatrader code base for free:


http://codebase.mql4.com/4332

 

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