Hi there. A few days ago I introduced you to a new manual forex trading system called Forex Rebellion (see this post.) Well, after seeing some very positive comments regarding this trading system on a Forex Nirvana forum thread I decided to jump on the bandwagon and give it a try.
So, I now officially own the Forex Rebellion system and have it nicely setup on a demo FXCM UK MT4 account. The system’s creator uses FXCM UK MT4 so I figured I may as well use the same platform to make sure I follow his setup “to the letter.” For me this setup works quite well because once I decide to go live I’ll be placing trades on FXCM’s TradeStation II platform.
Since I don’t have as much free time to trade as I once did I opted to run the system on the H1 chart. The author claims the system can be used successfully from the 15 minute time frame all the way to the daily (D1.) For me H1 strikes a nice balance, but if I find myself missing too many signals I’ll move on up to the H4 time frame – we shall see.
Here is how Forex Rebellion looks like when it’s setup (click on the image to see the full screenshot):
Just before I took that screenshot, Forex Rebellion gave me a very clear short GBP/JPY signal which I promptly executed, and as I type this I’m roughly $100 in profit. And just before that I had two other successful trades. Here they are:
9109009 2009.10.12 10:02 balance Deposit 100 000.00
9109492 2009.10.12 10:11 buy 1.00 eurusd 1.47305 0.00000 0.00000 2009.10.12 11:09 1.47552 0.00 0.00 0.00 247.00
9120808 2009.10.12 14:17 buy 1.00 usdjpy 89.929 0.000 0.000 2009.10.12 14:22 89.932 0.00 0.00 0.00 3.34
0.00 0.00 0.00 250.34
Closed P/L: 250.34
Not too shabby if you ask me! So far I can honestly say I like the system. It seems well thought out and quite accurate so far. My only concern is how well it will trade when the market is choppy. Also I do hope the system will continue to work far into the future. The system’s creator mentioned in the members only intro video that he’s been trading the system for several years, so hopefully it has many more years of life left in it.
Before I end this post I should mention something so you folks don’t end up being confused. In the above screenshot you may see that there is an “EA” attached to the chart. It is NOT an EA that automates the system, it is merely a trade helper tool.
That about does it for this post. I will be back with regular performance updates as I continue to test this system for the long term.
Now, if you wish to grab yourself a copy of this trading system please see the Forex Rebellion homepage at: