Thread: Review - Forex Rebellion (Set Times)

This post provides a consolidated journal of our trading results to date using the Forex Rebellion system as well as our rating decision.

As a reminder, we are trading the 4 hour time-frame and are trading EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD and EUR/JPY. We have been trading this system since its release, we trade, as best we can, all signals but take no trades on a Friday.

Consolidated Journal

Week 1 ? 6 trades, 5 winners (to target), +669 pips
Week 2 ? 9 trades, 1 winner (to target), +3 pips
Week 3 ? 11 trades, 5 winners (to target), +382 pips
Week 4 ? 11 trades, 4 winners (to target), -35 pips
Week 5 ? 7 trades, 1 winner (to target), -68 pips
Week 6 ? 16 trades, 2 winners (to target), -466 pips
Week 7 ? 12 trades, 6 winners (to target), +385 pips
Week 8 ? 7 trades, 1 winner (to target), -65 pips
Week 9 ? 5 trades, 1 winner (to target), +93 pips
Week 10 ? 6 trades, 1 winner (to target), -172 pips

TOTAL = +726 pips

The average Stop loss for the above trades was around 100 pips. Thus, over the 10 week period we have achieved a return of around 14% assuming a risk of 2% of account size per trade.

Rating Decision

This system does have a number of things going for it, Entry is 100% mechanical, Stops are almost 100% mechanical (requires some discretion) and Targets, depending on your choice of approach can be 100% mechanical too. It has also proven profitable in the short period we have been using it. The downsides are that a lot of currencies have to be traded to make a reasonable return and for us the lower time-frames (e.g. 15 minutes) can be choppy. In addition, we were concerned that if we had missed that excellent first week of results we would be looking at a much reduced profit (almost nothing) for 9 weeks of trading.

So, we will go with our ?Of interest? rating based on the fact some may find it useful for aiding them with market direction (from a higher timeframe perspective). Some may also consider trading it ?as is? and this may indeed prove profitable in the long term depending on one?s choice of currencies and timeframes, we just didn?t quite gain enough confidence to continue using it ?as is?.

We look forward with interest to future feedback from those who do chose to use this system. We would also like, at this stage, to thank all of you that have contributed to this review, your comments have all been useful.


Remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

First and foremost I would like to thank you for creating a forum like this dedicating to testing forex systems. I bought the rebellion because of all the good reviews and hype that came with it. But what I found out was, its nothing but a crossover system. If I wanted a crossover system, I could just get it for free at forex factory. The rebellion should have been a money management course instead! I think, Russ should just teach money management because I feel that its more important than the system it self. The system really is a no brainer to make. I feel like the rebellion is missing a whole of important tools. I don't want to go into details because its too much! Just do your research and you'll find something like this or even better. If your a beginner, just do your homework and excel at it instead of relying on a system like the rebellion. Once again, I think this forum is well done! This is just my 2cents about the rebellion! laters!

Hi all, my english isnt good, please bear with me.

Firstly thank you team for the valuable feedback and testing. You save me alot of time.

Ok since im still waiting for signal so i'm looking out for people who are still testing or using this system to share experience. Hopefully we will be better.

Personally I had been testing this system for a while now and here's are my finding, hope it helps anyone who is still working on this system.

I use 1 hr chart on USD/CAD. Reason behind it is that anything less than 1hr, I find it too stressful. 4 hr might also be good, however the stop loss I'm afaird it's doesn't suit me, and also the signal tend to be a bit late. So 1 hr chart give me the advantage of being able to go in early, with a lesser stop loss. But its not with it's disadvantage, because there's some false signal and even if its good signal, the volitility might still hit me out.

I not a programmer so I did a manual testing, yes manual, on the system to check it's robustness (To do that, simply go to MT4 and scroll back and startpressing F12). If you were to take every given signal on 2009, and using a stop loss at the last swing point, with a 1.5 profit taking. You will be sure that you will break even or do slightly better.

Drawdown, in this case I should use max consecutive loses, of near 250 pips. Couldnt provide a better drawdown as there's really no month that Im in red. (Please dont be too happy, because this will only happen if you take every single signal, which is impossible. Unless you work shift with a partner)

You will have a near 40% chance of winning. TO break even with this, you need a 1.25 profit taking target. So with my 1.5 profit Im just higher, but I need to pay for the spread. Erm.. you can try 1.25profit target, this will til your percentage winning over 45% i guess if you are a trader concern with winning and lossing. Its really a matter of preferance.

I go on and test trend riding with this system, i.e. dont use target profit. I just keep on shifting down my stop loss until it gets hit. The percentage to my surprise is almost the same or slightly higher, but few months going into red and a draw down of 600pips!!!! Unless you understand trend riding and the effect of drawdown, dont try this at home. When it's trending this method works greats and when its at ranging, this will kill. By doing this I understand that when trending if you know how to trend ride with this system,you will able to filter out a lot of trade and end a lot higher. One of my trade got 300plus pips. Unforunately thats once in a two month things. Maybe it just me not every good at trend riding... yet.

Average monthly trade is 30 plus. If you trend ride, maybe only 18, cuts by almost half. Max Consecutive trade loss is 5 and consecutive trade win is 3.

For those who are still using the system, you will realise that the max trade loss is super important, because you know the next one is likely to be a winner!!! I try to explain why there's are losses, hopefully it makes sense. The currency pair needs a period of consolidation.. During these period there will be signal and lots of them. By taking every single of those trade, you lose small amount, but in the end one of them must be right and it breakout of the consolidation(don't confuse consolidation with ranging), thats when you get your due. Hopeuflly the win is big enough to cover those small losess. And the cycle goes all over again.

The ideal way to use this system is knowing when to trade, and when to FILTER out trade. Thus able to increase your probablity of winner trade and at the same time increase your overall profit. For me I use the 75EMA as a gange. when the price is getting near to the 75 EMA and bound off without cutting through, you will know that most likely it's trending. If cut through, mostly its ranging. So when ranging i use profit target to get the most of out it, when trending when the price gets near the 75EMA and show signal bouncning off, I use stop loss until I get stop out. Traders, you get what I mean

Ho one more thing, i find it quite useful, I switch to 4hr and 1 day chart to see support/resistance... hopfully it makes sense. Yesterday USD/CAD bounce off the resistance again of 1day chart and 4hr charts. if 75 EMA is my lower projection limit, support and resistance is my upper limit projection. Sorry my english not every good, hope all these makes sense.

Daniel

Originally Posted by jrptick

Hi,

Looking closely at their site videos I can see the "core" system makes use of a medium term EMA which is also overlaid with an offset EMA to define exit points and underneath these is the infamous QQE for trend definition etc - all freely available! So where are the "magic" indicators? Simon.

Not sure whether I understand Simon here but it runs on an EA. Was that the question?

I must say that the EMA cross indicator arrows show just a little later than if one were trading a five bar reversal. More pips and simpler. Cost free system.