It would appear that on some brokers platforms (including FXCM and GFT) the Monarch triggered on the later candle giving some members their 50+ profit. I know some MT4 platforms were affected. We had an short order on with Oanda but from a higher level (not based on Monarch system), so can anyone report if Oanda triggered their Monarch order and they got stopped out.

Monarch scores +50 for some members

A frustrating premature entry on the Monarch due to a 132 pip waterfall candle that just touched the entry point and collected our short order. These type of events are hard to predict in advance.

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Forex Signal #10 – Monarch system GBP.JPY ’set and forget’

We are placing a order on Monarch system with a target of 50+ pips

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As well as achieving its set and forget target of +50 pips, the GBP.JPY extended Monarch trade gave a maximum of +190 pips for active traders (or even +79 using a 50 pips trailing stop on a half balance). Maximum reached was 147.32 slightly surpassing my ‘other potential target’ area  147.70/148.00

None of these pips are added to the monthly running total display

Reminder of the  order I gave on Monday

Short 149.22
Stop 149.72
Target 148.72

Other potential target 147.70 – 148.00

Please cancel the long order given at the same time, we will re-issue new orders either today or Monday.

No trades were triggered overnight although the short order came within 13 pips from the order. There are presently not changes to the entry parameters.

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The Monarch long signal although week gave a maximum of around +40 pips (just shy of set and forget target).

I beleive some of the trader-members will have taken advantage of this move. I secured 30 pips along the way, but these will not be added to the monthly total as the system is still under test. Short trade can be left  active.

I’ve given the system a name – Monarch, so that it can be easier identified by members

Please remember I am still testing this after customer requests for an easy set and forget system. Demo only until I see how it performs. Profits will not be added to monthly pip total. In the majority of cases there will only be one signal, but I have added the weaker long to see what happens.

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