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I'm already in on this one, theres no strong trend direction so I might just bank it all if it hits 1:1 RR

I have a weeks holiday in Spain next week, I almost don't want to go. I'll be thinking of missed CZ's
Attached Image
Hello everyone.

Just want to say big thank you to Forexhard for all the hard work that was involved in this thread. Also thank you to Squalou for his extraordinary piece of work. I have read the whole thread slowly, making notes of what I think were important bits, and based on that I made a trading plan. Im going to test it for a couple of months to get a better feeling of it. Anyway here's my first trade:


ECH sold @ 1.287
SL=12p
TP=24p
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Quoting rew2k7
Hello everyone.

Just want to say big thank you to Forexhard for all the hard work that was involved in this thread. Also thank you to Squalou for his extraordinary piece of work....
Looking good. I can tell by how your info graph reads that you have indeed been following along with the thread.

Keep those pics coming. Let us know how those first few trades turn out...
Can I make just a small suggestion for you hxtrader? Right click anywhere on the chart and hit "Properties", then go to the "Common" tab and uncheck "Show grid" and it will make your charts so much cleaner to read. Otherwise, keep up the good work.
Quoting rew2k7
Hello everyone.

Just want to say big thank you to Forexhard for all the hard work that was involved in this thread. Also thank you to Squalou for his extraordinary piece of work. I have read the whole thread slowly, making notes of what I think were important bits, and based on that I made a trading plan. Im going to test it for a couple of months to get a better feeling of it. Anyway here's my first trade:


ECH sold @ 1.287
SL=12p
TP=24p
Hi all

Well after 3 days ECHF finally reached my TP. So my 1st ever SSBO trade made me 2% of my balance.

It is surprisingly stress free(clear and well define rules make it possible) and flexible...hm. Anyway..

Regards
A.
This pic is a perfect example of a phenomenon (happening right now on G/U M15) that has only been touched on very briefly so far in the thread. Which is that CZ's don't appear every day, and some times not even every week. That's one of the reasons this system requires patience.

Pay attention to when this dry spell ends (just don't ask me when that will be, lol.) It always seems like there are more CZ's than average forming in the days that follow a dry spell. I saw about 25 CZ's in a single week this way. Depends on how tight your settings are, of course, but mine are never too loose. It was a busy week, for sure.
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Hi all

My next two trades. Both ucad

First one: Bought at close of 2nd candle above buffer line but SL hit
Second one: Sold at close of 2nd candle below buffer line - TP hit =2xSL

Regards
A.
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Just a heads-up that something interesting is happening now with my favorite chart. After close of market this week I'll be posting a very interesting post mortem of the last few weeks of CZ action.
Just got a question for you FH.

Ive got a box formed on GU which is almost in the same place where the previous box happened. Now do you pay more attention to those kind of setups, or it doesnt really matter?

Thanks
A.
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Quoting rew2k7
Just got a question for you FH.

Ive got a box formed on GU which is almost in the same place where the previous box happened. Now do you pay more attention to those kind of setups, or it doesnt really matter?

Thanks
A.
You're seeing what I'm seeing. Good work.

We only get a couple CZ's per week as it is, so as far as I'm concerned they all receive the same level of scrutiny.

Always base your trade parameters on common sense as reflected by your balance/equity/margin. Never trade more than 1% of your account. If you don't want to bother with the math, then simply use a .01 lot size and a fixed 30-pip TP/SL ratio on the next 100 trades. (<-- Notice that I said trades, not CZ's. Very important distinction.) Keep a detailed diary of those trades. If you come out a winner, add a penny and do it again, and so on.
If it will help you rew2k7 (or anyone else in the thread), go to the link below. Erebus posted this in my Synergy CRS thread, it can help you with your position sizing.

Lot Size Calculator (www.earnforex.com/position-size-calculator)

Quote
Ive got a box formed on GU which is almost in the same place where the previous box happened. Now do you pay more attention to those kind of setups, or it doesnt really matter?
You need to understand that you have treat the CZ's just like resistance and support levels, because in all reality, that's exactly what they are. When you have a setup like yours above, more times than not, the previous CZ will act as a resistance point which produces the stairstep reaction we see over the next several CZ's.
Quoting forexhard
You're seeing what I'm seeing. Good work.

We only get a couple CZ's per week as it is, so as far as I'm concerned they all receive the same level of scrutiny.

Always base your trade parameters on common sense as reflected by your balance/equity/margin. Never trade more than 1% of your account. If you don't want to bother with the math, then simply use a .01 lot size and a fixed 30-pip TP/SL ratio on the next 100 trades. (<-- Notice that I said trades, not CZ's. Very important distinction.) Keep a detailed diary of those trades. If you come...
I use oanda so Im used to calculating position size accordingly to amout of pips. And I never go above 1% - no need to go higher.
I have just one question, dont remeber talking about it. Based on your experience what would be the best approach when we have a multiple CZ's appearing roughly at the same time, like today. 5 pairs formed long waited CZ's.
Ill just say what I did. I looked at CZ's itself and picked longest and "straightest" of them all. In my case that was UCHF (37 bars). But unfortunately it failed to reach my TP.


Regards
A.
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Ditto everything Mer just said.

REW, where did your stoploss fall? If it's inside the ExtendedCZ then you're still in the game, right? Because that would mean the Consolidation Zone is still intact. A CZ remains intact until is has completely broken down, imo. That's why I always allow for up to 4 reversals/swings per CZ. Sometimes that's what it takes for enough momentum to take hold. This is the prime reason to start with the smallest possible lot size. When you do, you leave yourself the possibility of getting in again with the next breakout as momentum ramps up. This is what Mer and I do.

In other words, expect that it will always take several breakouts to cause a CZ's ultimate failure, and plan your trades accordingly.
Quoting mer071898
Can I make just a small suggestion for you hxtrader? Right click anywhere on the chart and hit "Properties", then go to the "Common" tab and uncheck "Show grid" and it will make your charts so much cleaner to read. Otherwise, keep up the good work.
Thanks Mer, that grid has been bugging me since I started using MT4.

Oh, just got back from sunning myself in Spain.... I've got a weeks catching up to do.
Looking good. Remember what I said about movement after a long dry spell...
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This week is starting off with a bang...
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BAM! 2 bars later and here comes E/U...
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I ran across this thread last week and have been trying to get through all the posts. I am on page 108, so I am closer than I have ever been to finishing. I played with the indi and settings over the weekend with the idea of giving it a shot today. I am in my first two trades. We shall see how the market goes now.

p.s. Ignore the diagonal lines. Forgot to take them off first...
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Now I have finished weith reading everything.

Today resulted in my first win...41 pips!

I did three trades total. I was stopped out on the first two (I posted the pics), so I netted my first day with this system 23 pips with 1 lot each. I can't complain.

Thank you ForexHard and Squ...(for the indicator). I know the work you had to put into this, and I appreciate you both sharing of your time to give to us. You did not have to, but you did. That says a lot about your characters!

I look forward to what my second day of these CZ's will bring. I have so much to learn and benefit from this

-Stearno
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Hello SSBO traders,

I just finished reading the thread a couple days ago!

A BIG THANK YOU to:
· FH, for all that you’ve put forth and shared. I appreciate and respect your vision for how you want this thread to be. It looks like it has come together quite nicely. Excellent job!
· Squalou, for the amazing indicator.
· MER and other experienced traders, for the info you’ve shared. I will be looking closer at the semi-martingale as part of my trading plan.
·And finally thank you to the traders who have posted their charts/trades and essentially making this thread what it is supposed to be about. I will do my best to provide my input and I hope that it will be value added!

I will be spending the next couple days tinkering and finding the ‘sweet spots’. I’ll also be re-reading the thread for anything I’ve missed.

Profitable trading to everyone!
Steve
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