Extracted Thread (per thread starter's request)

What I've described is how the Indi and the EA are hard coded.

Mister,

I guess I dont understand what your looking for. Your in a short position. I t stays open either until you profit or stop out. What would be the benefit of adding a position based on your manually drawn box. You like manual boxes better? Use them. Its the principle of this, catching the breakouts of a consolidated area. Who cares if you use the indi or manual?
Then best part about all the work fxh has done is the ease of it. No questions..no brainer. I just dont understand your question maybe.

??

doji

Yes, I'm fully aware of this.

In my short time as one of your members, I've had the fortunate situation to have had the time to put a few hundred hours into tweaking your indi on different pairs and TF's.

There are many instances that while in a trade a second CZ will develop but obviously cannot be displayed because of the way the indi is hard coded as you've pointed out. I was simply wondering is anyone had toyed with a strategy for this CZ within a CZ.

Thus far I have only traded off whatever the indi gives me.

MM

I think it best to rescind my previous question about a CZ within a CZ.

In the example chart I posted, which shows the current open Sell position, there may be the possibility of developing a strategy that if PA breaks out north from my hand drawn CZ, exit the trade at that point and start the second leg of the trade earlier with a buy.

I shall but the time into some back testing to see if it proves prudent.

MM

My opinion is that you have yet to grasp how simple and easy and self-working SSBO can really be. You are working MUCH to hard to devise a winning strategy, failing to see that one has already been handed to you gift wrapped. Doji just said it: just do what FxH says, and only that, and sit back and rake in the pips.

Personally, I try to avoid trading through NFP. Some brokers widen spreads to 20 pips or more around the news. That's usually not a problem if you're trading off daily charts but at these shorter timeframes your SL can easily get taken out on a spike. Ask me how I know

Otherwise, Friday trading is fine.

You have seen from my trade postings on the EU, I have had nothing but success!!

Using your method the last 2 weeks, all of a sudden watching paint dry has become more exciting.

My biggest challenge may be to actually do something else other than staring and thinking charts :-)

Thank-you again

Probably not the wisest of trades. R:R was lousy and entry was a long way from the CZ. Eventually it paid off and became the 10th consecutive win on GU.

Here is USDCHF so far this week. I go for 20 pips on this pair.

Try reducing the MinBar setting to just 1 or 2. After another 10 wins you might even try Zero for the quickest possible entry. Keep in mind that once you have about 30-40 combined wins under your belt (regardless of pair or TF), that you are now so far in the black that so long as you maintain a strict 1:1 (or better) ratio, you can basically never lose your added equity. And each new "10" just adds to your over-all safety buffer. So by the time you've added, say, 20% to your account, you'll be much more confident about getting in earlier rather than later.

Thanks FH, actually I do use 0 closed bars on most pairs. I was lucky enough to discover this thread when it was only 10 or 11 pages long. Although I haven't posted much (spend most of my time over at Steve Hopwood's place) I keep dropping in and I think I've read every post.

I've been trading on one of my live accounts for a year now. So I've been through the confidence-building stage already - and, believe me, I've added a lot more than 20%!

Thanks again for all your efforts.

I am currently short on cable. Anyone like me?

GU - 11 in a row. Or would have been if I was awake at 4.30!

And 20 more on UCHF. Did get this one on a buy stop.

AU looks like it go either way at the moment. Not had a good week on this pair, normally one of the more reliable.

Four positions with this basket. TP1 & TP2 already hit. Two more shorts still open and hoping for an even longer bear run.

3 down, 1 to go...

EDIT: Looks like pos#4 will have to wait until next week. So far the first 3 closed out with 43p, 67p, and 93p respectively, or a total of 203p. Pos#4 is guaranteed to close with 70p even if it retraces back to its jumping stop. If it keeps going on Monday, pos#4 will close with about 115p by itself.

Thats awesome fXH........The SSBO has really blossomed.....Thanks again for all your work, patience and efforts.

doji

Hi ForexHard, Squalou, Xux99 and others,

SSBO is a really great system and I really admire your idea to code it into a fully automated system.

I am not sure how you are coding it, as the EA has not been released, but I would like to contribute some ideas based on my research of this system.

Current Advantages of this system:

- Simple – that is the best ever and it will work forever

- Good Risk:Reward ratio (1:1 or much better)

- Work on any currency pair – more trade setups to compensate possible losses of some currency pairs)

Current disavantages of this system:

- Sometimes, signal for breakout is early and it reverses to CZ and make breakout orders at loss at other side of CZ.

- There is no trade to offset losses in early breakout cases

- Only trade when breakout, so missing some opportunities to trade inside stable CZ. Inside CZ trades (from second half of NY and Asia section) can accumulate profit for possible losses of sudden revenge during Europe and US sections)

My suggestions include:

- Enable swing trades inside CZ

- For breakout trades, immediately move to breakeven after the trade gains some profit ( I would say it a SafeZone). If market goes into right direction, then great news, wait for trailing, full TP or portional TP…) If market reverses, then we have breakeven and wait for new breakout signals to re-enter order). Using re-entry might cost some spread pips, but I think safe trade will make profit in long run)

- If price reverses back to CZ, (when breakeven has not been made) just against the current breakout order, then trigger reversal order to offset possible losses of early-breakout order. This reversal order is processes same as swing trades inside CZ)

These are just basic suggestions, if you are interested, then I will prepare detailed EA prototype with full Order Entry, Order Exit, Order Protection rules, and we can discuss in all possible cases.

I would be happy to have discussion with you and Xux99 on skype (my id: vinhlq_umt).

Thanks and looking forward to hearing from you.

Vincent

Vincent,

Just my two cents..... you posted the following:

- For breakout trades, immediately move to breakeven after the trade gains some profit ( I would say it a SafeZone). If market goes into right direction, then great news, wait for trailing, full TP or portional TP…) If market reverses, then we have breakeven and wait for new breakout signals to re-enter order). Using re-entry might cost some spread pips, but I think safe trade will make profit in long run)
My take on this is on many of the breakout trades, price will retest the level before it continues to move in our desired favor. Many instances it doesn't. By moving to BE immediately, will in many cases cause a BE trade.
SSBO is about 1:1 RR or more. Letting it run and taking profit or getting stopped out. The indicator as is works on so many levels, by hard coding it to take the BE, I would from my experience, for see less wins.

- If price reverses back to CZ, (when breakeven has not been made) just against the current breakout order, then trigger reversal order to offset possible losses of early-breakout order. This reversal order is processes same as swing trades inside CZ)
Again, by changing this perameter, your essentially taking a successful method to a new realm of from what I can see, a less efficient place. Many times price retraces as far as 125 percent back into the breakout area then continues to give us the desired direction. Price can only do two things, go up or go down. By trying to analyze and take swing trades within the cz zone changes the whole dynamic of its success rate. In hindsight, we can all find reasons to change the entry and reversal, but without not knowing the total effect on the system that all ready exist.

Don't take this wrong either, but i question your logic and knowledge of this method due to your member status, and number of post?

Just my take....

Doji

Hi,





Forgive me, I am newbie at FF. I registered account just 2-3 days ago.

Happy trading

Vincent