Hi all, I have a system to introduce to you that claims you can become the 5% of traders that are very successful trading forex like the professionals do. The vendor page states that the system uses various price patterns and fibonocci levels to detect precise trade entries and exits. Also price patterns that equate to 36 different "patterns" are recognized by this system. The EA operates on the H1 timeframe of the Eur/Usd, Gbp/Usd and Usd/Chf pairs, but also reads the H4 timeframe for more accurate trading. The following patterns are read by Phibase Pro:
1) Double Top/Bottom - Trades based on both predictive technology and
confirmed pattern formation
2) Triple Top/Bottom - Trades based on both predictive
technology and confirmed pattern formation
3) Butterfly - Trades based on confirmed pattern formation
4) Rectangle - Break Outs/Break Downs
5) Wedges - Break Outs/Break Downs
This appears to be a well balanced system for long term trading although the performance of the system seems to vary greatly based on market volatility. In calmer markets like we saw before 2007 the system was not profitable at all. So I would recommend watching how this one pans out in the near future as the markets may calm down a bit as we crawl out of the current recession. I have a link for the live forward test for you convenience so you can track the performance.
Phibase Pro Live Forward Test
Phibase Pro Website
