How TopGun Software Can Make You Many Pips!

[DickP]

Thanks for agreeing, even though some of the signal providers are super on Zulu, they are prone to want to hold on to losing trades that could wipe you out if you don't set your own stops for them. I found that a stop loss of 50-75pips is enough to get you out of trades that are most likely going south anyway allowing for a big enough swing to let these SP's do their thing

[Brian2MN]

I've been using TopGun over the past few weeks after finding out about it on here, and so far I've been very impressed with it. I like to add the Parabolic SAR to my charts, because I think it provides a great additional confirmation and a guideline for where your SL should be.

It doesn't always blow the doors down, but I've had a pretty easy time making 30+ pips today only on EURGBP with a pending trade that I have an 8 pip gain locked in (moved nicely in my direction while I was making this picture, so it's already outdated).

I don't know about anyone else, but I could make myself a very nice living on consistent 40 pip days.

Like Mike said, TopGun and the eSignal feed are free as long as you agree to trade at least 10 full lots per month, which I did just today on the trades in this picture.

[Brian2MN]

I spoke a hair too soon--that last EURGBP trade I had cooking nabbed me +31 pips! 66 pips for me on the day.....all through TopGun. Loving it!

[Forexman21]

those graphs and setups are to confusing
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there are no best indicators, PEOPLE STOP LOOKING FOR THE GOLDEN BULLET. THERE ARE NONE!!!!

[Mike]

I am inclined to agree with Forexman21 in theory. There is no magic bullet or golden bullet or holy grail when it comes to any type of trading, Stocks, Forex, etc. and people are making millions off of making people believe there is. Forex Killer, Faps Turbo, amongst others have all made ungodly amounts of money by telling you Forex Trading is easy and simple.

I will say that TopGun is not one of those programs that promises you the world, you still have to work for those pips. I have an unfair advantage to most of you when it comes to TopGun because I have been indoctrinated with how the software works for almost 2 years in the mentoring program.

Furthermore, and along the lines of what ForexMan21 is saying, the system I use in TopGun is not perfect, nothing is, and for every 1-3 breakeven to 10 pip losses I have, I get my big move that wipes out those losses. Sometimes I catch the big move on the first try and I call it quits for the day. It's all a matter of chance with the odds tipped in our favor. I'll show you a few examples from today alone.


Last night there were 3 trade opportunities based on the strict rules I impose on myself for trading.

Here I would have entered at 00:30 long based on Total Strength flipping green along with all three Chandelier time frames turning green. The key here is that the trade goes for me enough so when it turns out the trade was not the big move I'm looking for, I can exit almost exactly where I entered, BREAK EVEN or with a small gain. If you scalp, you could have easily made 10 or more pips on this trade.



At 02:40 a similar setup occurs WITHOUT the total strength flipping strong red, which probably would have kept me out, but according to my strict rules it might have resulted in a move down the line because of the 3 chandelier stops flipping red. But like example 1, you get in, it goes for you about 10 pips before retracing to the yellow balance point line and results in a break even trade.


The third and final example is the trade we're looking for and catch thanks to TopGun. Apologies for having to zoom out so much, but there is so much volume on this tick chart, it moves down a great deal in short amount of time.

The three things that tell me to get in this trade are the flip of the Total Strength histogram and candle bars to red around 03:40, coinciding with flips of the three chandelier time frames below to red. It's just an automatic response to this system that results in a 70+ pip move.

So, to the untrained eye, yes these charts can be confusing, but after a while you just become used to knowing when to get in and out based on them. TopGun mentoring teaches you alot more that can also help you, but for myself, I've boiled it down to this system here and it works well for me.

[DickP]

I've been using TopGun over the past few weeks after finding out about it on here, and so far I've been very impressed with it. I like to add the Parabolic SAR to my charts, because I think it provides a great additional confirmation and a guideline for where your SL should be.

It doesn't always blow the doors down, but I've had a pretty easy time making 30+ pips today only on EURGBP with a pending trade that I have an 8 pip gain locked in (moved nicely in my direction while I was making this picture, so it's already outdated).

I don't know about anyone else, but I could make myself a very nice living on consistent 40 pip days.

Like Mike said, TopGun and the eSignal feed are free as long as you agree to trade at least 10 full lots per month, which I did just today on the trades in this picture.

Hey, nice examples Brian, even though I'm not a fan of Parabolic SAR, it certainly does seem like you got the hang of it. I don't use TopGun anymore, just MT4, but since I stopped using it, they came out with so much more by way of indicators, I might have to give it another go.

[Brian2MN]

I wouldn't say that I'm a huge fan of Parabolic SAR either, but I think that adding it to the chart does a good job of warning you before the other signals are going to change, it helps give you a guideline for stops, and does a decent job of letting you know when the trend is going to end. I wouldn't use it as a stand alone entry signal, but I like it for other reasons.

Very interesting concept with the chandelier stops, Mike. I'm experimenting with that idea now--thanks for sharing that. Looks like that idea may have bagged me a nice one on EURJPY just now.....but we'll see where that one goes. It's only 11 pips right now, but at least that means I can go break-even at the worst right now.

[Mike]

Your welcome Brian. SAR and Chandeliers are almost the same, different algorithms and manifestations on the chart of course, but very similar.

My reasoning with the chandeliers, and correct me if I'm wrong, is that, on a longer time frame chandelier (5.25) it only will flip X amount of times daily. A faster chandelier can flip 10 times in an hour, so that isn't helpful at all, but the 5.25 chandelier is only flipping 10-20 times daily, and when you narrow that down to the golden hours of trading, it flips maybe 10 times. Then, when you trade with the trend only, it is narrowed down even further. When I rfer to longer term, I don't mean a longer time frame chart, which you could do, I mean, through TopGun, tweak the settings of the Chandelier indicator, the default being 3.00, which I add as you can see a 2.5 for a faster flip, and the golden 5.35 for the slower flips. I draw them both on the charts above and below the price and as a simple COLOR only underneath the Total Strength histogram.

And when it is wrong, if you stick to the rules and get out of the trade when the chandelier flips against you, you're not losing a ton of pips, in fact, you can break even very easily if you just get out when it hits B/E.

This is the system I want to automate VERY badly, I can almost taste the pips

[Brian2MN]

Top Gun was very helpful last night in identifying the breakdown in many of the currencies last night. I'm experimenting with Mike's idea with the chandelier stops. Last night I used:

1) Chandelier stops as Mike mentioned
2) 180 minute balance point line
3) Exponential Moving Average 14 period
4) Total Strength
5) Parabolic SAR

Granted there is no perfect system, but I'm finding that if all of these things converge it's pretty uncommon that you can't at least get yourself into a break even situation or at least very close to that. In this case, the move broke off for +125 pips.

Top Gun is just a charting program, but I do like some of these indicators a lot. One thing that Top Gun offers you too is complete customization of the time frame. You can chart based on any increment of minutes that you want, or even so that each candle is a certain number of ticks.

[Mike]

Nice work Brian.

I have the same chart to share basically, it was such a nice move, clear setup, very hard NOT to make pips on this today.

[Brian2MN]

Thanks Mike! I had another fantastic day today--hopefully the text shows up OK here but I had to downsize it pretty heavy to get the file size small enough to post.

I'm VERY happy with Top Gun software, because it makes it very easy to pick up on patterns like this. I agree that the charts seem a bit overwhelming, but if you're willing to invest the time watching some of the mentoring videos and sit through class, it starts making more sense. Once you have a good idea what the indicators mean, it literally starts to become as simple as just looking at what color the candles and various lines are.

The movements were great today--you could pretty much name any of the major currency pairs and I could take a picture of the chart and draw on there just like this how you could have made 100's of pips on pretty much anything just by following a pretty simple strategy.

[Mike]

It's kind of small the text, you can email it to me and I'll post it if you like
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webmaster @ you know the rest .com

[DickP]

I forgot where I saw someone say TopGun has lagging indicators, that might be so, but they are NOT as lagging as MACD RSI, and others you find in MetaTrader. Telling just from these few examples Mike and Brian have, they catch these moves just as they are happening. You can't ask for more, maybe a Crystal Ball

[Brian2MN]

I can attest that those indicators do NOT lag. I'd like to place more stock in the Total Strength indicator, but I do feel that that lags a bit if you're waiting for a really high reading. The ones I like to use though--the changing color of the candles and the chandeliers, those happen in real time and don't change. Naturally the candles sometimes flip back and forth while they form during a 50 tick cycle (whether it's an up or down if it's gyrating) but I've watched thousands of those form and have never seen one change color once it locks in and the next candle starts.

I would bet that you could almost make money on Top Gun doing nothing but trading the change between red and green candles. I like it!

[NILS]

first post for me, just been reading through older post. anyway i was wondering if you get to use this topgun software if you only open a demo account with fxcm or do you have to open a real account in order to use the software? I would like to try it all out, but don't want to risk any real money at the time because i don't know much at all about the forex market. I certainly hope to with everyones help here on the forum. thanx and hello to everyone.

[Mike]

Hi Nils,

Yes, you need to have a live account with real money in order to receive TopGun free of charge, demo will not suffice.

[NILS]

cool, thanx for the reply

[usdivers]

Hi Nils,

Yes, you need to have a live account with real money in order to receive TopGun free of charge, demo will not suffice.

Mike, I have just got topgun, could you please post or send me your 35 tick template.

Cheers

[Perry]

first post for me, just been reading through older post. anyway i was wondering if you get to use this topgun software if you only open a demo account with fxcm or do you have to open a real account in order to use the software? I would like to try it all out, but don't want to risk any real money at the time because i don't know much at all about the forex market. I certainly hope to with everyones help here on the forum. thanx and hello to everyone.

I think you can try it out for free for two weeks, I did

[Aussie_Pride]

Hi Mike,

I surfed past topgun a few yrs back but didn't really look into it. Having a look through your thread and it looks like a good thing.....I might have a go at it soon, it's always good to sharpen the saw and have some extra tools in the tool box.

I think i would do the mentor class though that way i would get the proper understanding of how to trade their strategies...i'm sure you agree.

Anyway thx for your work on the thread