[JAG fx]

I have just started to get into the Precision Forex method of trading a little more seriously. Previously I had been tracking it on the GBP using the continuous XTick demo charts (have to sign up every 8 days), with the odd live trade. I have been following it for a few months now and always go over the previous weeks charts to see how the different methods performed.

The designer of the system is always looking for ways to improve the results and each time he releases a new idea, that certainly seems to be the case.

Now that I have got the full version of XTick charts and figured out how to set all the audible alerts, I am finding it very easy to trade, even tracking three pairs at once. One of the things I like about the system is that your losses should be minimal (less than 20pts) and due to the system being fairly mechanical, there is plenty of opportunity to let your profits run. It is mechanical to the extent that you are given clear entry and exit points based on technical indicators, however you may have to show some discretion in a flat market where you may suffer a few small losses in a row. This is where you would set up horizontal lines on your chart and then look for the breakout.

I can verify the results shown on the Precison Forex web page as I also check these every week against my own charts. My only concern using renko charts, can be the fast forming/movement of the boxes. Under normal market conditions, this is not a problem, but you have to be aware of major news releases and be ready to go. I normally trade with a pretty big safety stop and just rely on the signals to get me out of a trade, but come news time, I would either be out altogether or have a tightish stop in place to lock in profits. It just takes a little getting use to trading with renko charts when you are use to time sensitive bar or candle type charts.

I would love to hear how others are doing using this method.