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  • #5,761
  • Mar 4, 2013 6:17am Mar 4, 2013 6:17am
Quoting AltosTrader
Similar result on GBPAUD but trying it differently. Note only 28 days. Yeah, I know but ya gotta experiment.
Nice first win % with those settings. The challenge I have is I am not always near my computer. So I have been setting the pendings at the CZ boundaries and then letting the order happen when it breaks out.
  • #5,762
  • Mar 4, 2013 7:21am Mar 4, 2013 7:21am
Redwing, I'm also in the U.S. (San Diego). If I set a pending order for a buy and another pending order for a sell on the same pair, and one goes through, do I need to manually close the other? Is this considered hedging to the broker? Thanks.
  • #5,763
  • Mar 4, 2013 7:39am Mar 4, 2013 7:39am
Quoting oztrader79
what the hell are you talking about? (in my best Homer Simpson voice)
  • #5,764
  • Mar 4, 2013 8:23am Mar 4, 2013 8:23am
Going nowhere slowly...
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  • #5,765
  • Mar 4, 2013 8:27am Mar 4, 2013 8:27am
Quoting mary4x
Redwing, I'm also in the U.S. (San Diego). If I set a pending order for a buy and another pending order for a sell on the same pair, and one goes through, do I need to manually close the other? Is this considered hedging to the broker? Thanks.
Mary4x,
Generally my stop loss is just inside or at the opposite side CZ, so the SL will hit before the opposite side pending order is kicked-off. (Other wise you would get an error message from US based brokers saying "hedging not allowed".) So probably personal preference as to whether you cancel the other side pending or let it stay there, but if you set your SL to just inside or at the opposite CZ, you should be ok.
  • #5,766
  • Mar 4, 2013 8:43am Mar 4, 2013 8:43am
Quoting fxglider
Going nowhere slowly...
There she blows!!! Finally moved 30 pips after two tries.
  • #5,767
  • Mar 4, 2013 8:45am Mar 4, 2013 8:45am
Quoting Redwing
There she blows!!! Finally moved 30 pips after two tries.
Yah, I hit profit right after I posted
  • #5,768
  • Mar 4, 2013 8:56am Mar 4, 2013 8:56am
I'm starting to look deeper into these "consolidation zones" and I've come to the conclusion that not every "box ie: 25 x 35" is a consolidation zone. I've found that by trading without the indicator and drawing boxes manually you tend to observe PA withing the zone/box. The behavior of price within the box as far as the pattern goes have an effect on the breakout ie: Smooth waves/patterns within the zone usually gives better breakouts than spiky candles within the zone/box.

I don't know I might be wrong, but I've gone back to manually spotting these cz's in order to get a better feel for the market.
  • #5,769
  • Mar 4, 2013 10:05am Mar 4, 2013 10:05am
Easy as 1, 2.. not even 3 !
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  • #5,770
  • Mar 4, 2013 10:38am Mar 4, 2013 10:38am
Very nice start to the week...
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To improve is to change. To perfect, is to change often.
  • #5,771
  • Mar 4, 2013 10:45am Mar 4, 2013 10:45am
[quote=Redwing;6489175]Mary4x,
Generally my stop loss is just inside or at the opposite side CZ, so the SL will hit before the opposite side pending order is kicked-off....

Thanks, Redwing.
  • #5,772
  • Mar 4, 2013 12:50pm Mar 4, 2013 12:50pm
text book breakout really

i want to talk more about how people played or are playing this

ive still got half my lot in and ill probably ride it until it hits the old cz level turns around a bit or a new cz forms

so speak up my steppin bros
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  • #5,773
  • Edited 2:16pm Mar 4, 2013 2:04pm | Edited 2:16pm
Quoting fexitrade
text book breakout really

i want to talk more about how people played or are playing this

ive still got half my lot in and ill probably ride it until it hits the old cz level turns around a bit or a new cz forms

so speak up my steppin bros
I also traded this one from a manually drawn CZ, but on the H1 chart. However I did get confirmed CZ's on my 15 minute chart, 2 of them side by side. What I saw as significant was 3 clear rejections of a move below 1.50 (no close below it on H1) but this was only apparant on the H1 chart, the indi did give me a signal to go short but with price so close to such a significant psychological level I thought i could afford to ignore it. My reasoning for this is that if there was a significant break it would almost certainly return to test 1.50 and I could get back in at that point (if it took a bounce off the cz on my M15). Furthermore, 7 bars tried and failed to break out of my hand drawn box so when it did finally close outside it I took it as there obviously wasn't much appetite to go below 1.50.

I've taken half off at 31 pips, my usual QTP on M15, moved SL on the other half to BE + 10 and will close out (you can see my TP) the rest a few pips below a previous CZ on my M15 (the 1st fib level).

I've only taken half off at this point as I have risked twice what I would normally have done on a breakout.

So basically I think we're doing the same thing.
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  • #5,774
  • Mar 4, 2013 5:34pm Mar 4, 2013 5:34pm
Hi there,

I was wondering if there is any option in the "new" final version of the indicator (the one on p.371) to turn off the bold text. It might be easier to read for some, but I find it very cluttered and very difficult to read on my screen. If I turn the font size up, then the stats at the bottom get cut off, but if I make the font size smaller, the letters start to run into each other. See my screenshots below, first one is new version, 2nd is the old version. I love the new options available, just really can't stand the bold text, makes my eyes hurt (O.o)
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  • #5,775
  • Mar 4, 2013 6:53pm Mar 4, 2013 6:53pm
Quoting Jon Reed
Hi there,

I was wondering if there is any option in the "new" final version of the indicator (the one on p.371) to turn off the bold text. It might be easier to read for some, but I find it very cluttered and very difficult to read on my screen. If I turn the font size up, then the stats at the bottom get cut off, but if I make the font size smaller, the letters start to run into each other. See my screenshots below, first one is new version, 2nd is the old version. I love the new options available, just really can't stand the bold text, makes...
Try to change the font to Calibri. It will be easier to read.
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  • #5,776
  • Mar 4, 2013 7:10pm Mar 4, 2013 7:10pm
Quoting gendonp
Try to change the font to Calibri. It will be easier to read.
Thanks! I didn't even think about changing the fonts, lol, kept messing around with size and looking for an un-bold option Changed it to Calibri and it looks great now!
  • #5,777
  • Mar 4, 2013 7:14pm Mar 4, 2013 7:14pm
Quoting fxglider
I'm starting to look deeper into these "consolidation zones" and I've come to the conclusion that not every "box ie: 25 x 35" is a consolidation zone. I've found that by trading without the indicator and drawing boxes manually you tend to observe PA withing the zone/box. The behavior of price within the box as far as the pattern goes have an effect on the breakout ie: Smooth waves/patterns within the zone usually gives better breakouts than spiky candles within the zone/box.

I don't know I might be wrong, but I've gone back to manually spotting...
Personally I think you're on the right track, the original box settings were just a template, of course settings can be changed. This method is based on just a very simple principle, price consolidates/ranges before moving on to the next destination. We then try identify these zone's and trade them accordingly.


I like handrawn boxes myself and the ones people put up. Sometimes using the indi we can become too complacent and lazy. That's why fxhard says you need to be proficient in handrawn boxes before moving in to the indi.


Cheers,

Ben
  • #5,778
  • Mar 4, 2013 11:03pm Mar 4, 2013 11:03pm
Quoting forexhard
Very nice start to the week...
This one is an interesting example as it was a nicely formed CZ and shows that according to standard criteria, it took "martingaling" 3x to get the win.

I'm not against a limited martingale but the tricky part is, what if the bar size of the third breakout was 50 pips? The first two times you would have had a stoploss of around 30 pips, but then all of a sudden if you want to keep betting the series and have your stoploss to the bottom of the CZ, then you would need a 80 pip stoploss. So now you either wouldn't recoup your money (if you kept a fixed risk %) or you would be almost tripling the required bet size which is getting very high.

One alternative I thought of is to take the second and third trade immediately as price crosses the buffer zone, then at least I know that the stoploss will be the same size. This seems like a good solution that I'm testing. Another alternative is to wait for a loss and then start your series. I really like this approach of bets based on statistics.

I'm feeling challenged though to have a 4 stage martingale - losing that series (which does occasionally happen) sets you back -15 trades. (whether it's 1%, 2%, 4%, 8%, or 0.1%, 0.2%, 0.4%, 0.8%). I get that the statistics are there thanks to the indy/backtesting and can show you that it's quite rare, but as we know trading is unpredictable and there could be events that cause extreme whipsaws for a couple days. Losing the series a couple times would be a large setback. Having a 3 stage martingale would limit the setback to -7 which would be easier to deal with.

Is anyone interested to discuss how they are handling this? (I've read 1/2 the thread so far : )

Another mystery is that FH said in one of the posts something to the effect of "unless your broker allows hedging, and then bob's your uncle". I've been thinking about this for hours and don't get how to work this...
  • #5,779
  • Mar 4, 2013 11:26pm Mar 4, 2013 11:26pm
Quoting happyhappy
This one is an interesting example as it was a nicely formed CZ and shows that according to standard criteria, it took "martingaling" 3x to get the win....
Your premise is wrong for a couple reasons.

First, that trade set was only 1+1, not 1+3 as you stated. There was 1 stop out, then the very next trade went to TP. So only 1 trade (the 2nd) would have Martingaled -- if Martingaling was in use in the first place.

Second, Martingaling is COMPLETELY OPTIONAL. The current version of the indi allows us to optimize our settings almost too well. So an experienced SSBO trader will look for the best possible QTP settings, which increases the probablility of a breakout win, and therefore less need to rely on various recovery techniques, of which Martingaling is one.

You say you have only read half the thread. So another couple of points: 1) Had you read ALL of the thread, these questions would probably have already been answered for you; 2) Please don't post any more until you do read it all. Just like it says in post #1.
To improve is to change. To perfect, is to change often.
  • #5,780
  • Mar 4, 2013 11:44pm Mar 4, 2013 11:44pm
Quoting forexhard
Your premise is wrong for a couple reasons.
This will be my last post for a while then to respect your wishes.

#1 - As you can see clearly on the attached photo, 3x two bars closed outside the buffer zone.

#2 - As I revealed in an earlier post the spread is not factored in properly on the indicator so the win/loss ratio is not accurate.

Example: say you have a 6 pip spread on the gbp/jpy and are short with a 50 pip take profit. Price needs to go 6 pips below your target for your trade to be closed in profit due to the spread. According to the indicator as it is right now, as soon as price gets to the 50 pips it counts it as a win, meanwhile if price reversed there, in real life the trade would be a loser. Therefore the win/loss ratios that it's calculating are not accurate. I'm not saying that your method doesn't work or anything negative, this is just an important consideration for people who are betting real money on these trades.

#3 - I don't think these are typical dumb newbie questions, so your force at trying to shut me up makes me suspicious..
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