Just wanted to post about how the UGC indicator has been working since I installed it yesterday. The upshot is I made 2 trades, one yesterday and one today for a total of 142 pips. The image attached here is the trade from today.
Apologies for the rubbish screen shot but when I took the screen grab the trading station was open in one of my external monitors and I did not notice until much later that a note pad I had on my main screen had obstructed most of the chart so all I had was the area where I did the trade plus the profit display. When I get my statement tonight from FXOpen I will post it as well.
Bottom line is the indicator paid for itself twice over in 2 trades. I will add it to my normal trading routine and post results as they come in but given I am only using it on the 4hr and daily charts there may not be trades every day or even every week. I will try and take a better picture for you as well. Have a good weekend all
Joined: Wed Nov 18, 2009 12:24 am
Location: Gold Coast, Australia
Well as of today, the 5th May 2010, I have been using the UGC indicator since the 19th April. I have been testing it on a demo account, just to get a better feel for it, and will probably take it live next week.
Well, as with all trading methods, you have winners and you have losers.
I have had more winners than losers during this time. The demo account has grown from a $10,000 opening balance and as of right now, the balance is $17,055.16. I am currently in four trades using this, and three are up.....
Just remember the rules which Loz has mentioned with the indicator, and also what he has discussed in the webinars regarding the UGC, and never forget the support and resistance levels. I made the mistake of just jumping into trade because the indicator came up with an alert, and did not look at S & R levels, and lost out.
I mainly use the H1 and H4 time frames, and I am currently looking at the daily to see what happens. I have been using 1.0 lot sizes, and only the 11 pairs that Loz indicated.
Will give an update of my progress afteri have been trading live with it for a while.
Ashley - StoneColdHomer
Update 7th May 2010
I have just closed out of the four trades I had open that I mentioned above. Three winners and one not so good. Total gain of 575 pips in three days. All based on the UGC daily charts.
Indicator is continuing to give very good trades (am around 700 pips in profit since starting using it). While waiting for the longer term trades off the H4 I have been testing it on the 30 min with 20 pip targets. I have only been acting on the ultimate signals ie all three MAs / 2 MAs plus imacd and the results have been very good. If you can be patient enough to ignore the false signals on the lower timeframes you can chug along at a decent daily run rate
hows everyone else getting on with the alert indicator? are you all making over 1000 pips with it yet? if not ,there's a problem... as soon as my new pc desk arrives, we'll seee what we can do about having ppl know how to use the indicator better to their advantage...
I for one am making around 400 pips so far after using it for more than a month. I am not jumping on board every trade and I get the best results with the 4H and Daily timeframes. I am using the 1H also but than I get the occasional stop loss to be hit.
Any advise to perfect my trading would be very welcome. Am also considering the Webinar service if you are going to discuss the UGC and see how to use it to get better results.
As you can see, I have a 'problem' for not reaching the 1000 pips yet
In the month of may I scooped 1000 pips and I would say 90% of the trades were using the UGC indicator on the H1 and H4.
I also use the imacd, ADX and 200 EMA for added insight and always with the prevailing trend.
The hardest thing for me is not the entry point but knowing when to exit the trade to extract the most profit and is something I am experimenting more with - I think I would have had at least 1000 more pips last month if I had stayed in longer. Still mustn't grumble