Extracted Thread (per thread starter's request)

It says on post #545 right in the first sentence, "I have slightly modified sqaulou's indicator", shame on you for not reading your own thread . I hope you know I'm just kidding, you can use the indicator as a visual cue to take profit or move stops at the various fib levels. The Stealth V.2 EA I posted today is a trade management EA that will take over for you once you place the trade so you don't have to sit in front of the screen all night.

The last pm I received from anyone was over 3 weeks ago, but nothing has popped up recently. My pm function is on as far as I know and you know I wouldn't ignore you on purpose.

Do me a favor Scott and try to send me one. Let's see if we can figure out what the deal is.

RE the indi: I assumed that was the case, but you were describing it like it could do more. Just wanted to make sure. I only posted my question here because you weren't answering my PM's. See above.

Lots and lots of pips made overnight for me (aussie) 13 trades, 6 hit SL and 7 TP (which is a 3:1 ratio! )

And now I have 4 open. They are all positive, and they are up 40, 45, 28 and 1 pips.

Yes I am trading 13 pairs.

Hi Trip, sounds like your flying using this. I gotta get a bit more serious I think. Im just doing the odd trade (which are fine) when im near the computer. I am in the Aud short atm.

Where in australia are you?. Im in Brisbane formally adelaide.

I have to learn to trade the Zones regardless. I always over analize stuff usually to my detrement. Go through the history and the profits are there.

Thanks Forexhard. AUD looking good but coming up to 1.0500 may hold it up. My thought pattern says take profits instead of letting what will be be.

Thats what makes my trades suffer.

Good luck to everone E/u approaching first target. E/J A/J on watch as well if you trade them

I am on a 10% return at the monent (5 days trading) I am starting to feel certain pairs do better, I am trading live btw. Lots of .5

I am based in melbourne.

I love Melbourne. Easily one of my 5 favorite cities in the world. I've been 4 times, and I've performed dozens of shows down by the Yara in the evenings during the summer. Perfect place for busking. If I could find the right pretty Aussie babe I'd move there tomorrow.

Mate aussie girls love $$.. got some of that and there yours.

This thread has really died.. I know we dont wanna talk about the EA, but the EA really needs a trailing stop addition.

Currently manually adding them in once the orders go in.

I have had nothing but sucess with this system. Thanks Forex Hard

Glad to hear it! How about posting a few charts so we can all see what you've been up to this month?

Just in case any of you were wondering why I named the thread "Stairstep"...

It is kind of obvious isn't it. The screen shot is a system I started in late 2009 and added Mer's and squalou's boxes from their LO V2 thread. I removed all the S&R stuff from the chart before saving the screen shot. The outer channel is part of the indicator I developed so left that showing.

This idea came from another thread although none of the indicator's code is from that thread. Anybody who has studied charts knows what a breakout is and how to trade them. Traders have been drawing lines across the highs and lows for decades and trading the breakout.

You will notice the equilibrium channel is continuous and varies the distance from top to bottom automatically therefore providing more trades.

Placing squalou's indicator into this chart will catch some but not all the breakouts due to the difficulty of adjusting the ATR values. The channel here is based on one input value which is a user input that can be adjusted to control the channel width.

In the accompanying charts you will notice your box system misses a lot of trading opportunities. The equilibrium channel misses nothing. All the tops and bottoms as well as all consolidations. I can fully understand why you have a continued box as without it trades may be a long time coming.

On chart C4 there is a 239 pip move from bottom to top of which the indicator only catches 29 maximum pips. Now you could say the indicator is designed to only draw a box at places of consolidation and trade from that point but the fact that you're trading from a continued box changes the game to random trades with only random .

I do use the Bols set at a period of 6 and deviation of 2 as well as some other indicators to trade to the tops and bottoms and to highlight the orphaned trades that never quite reach the top or the bottom.

I called this "The Stair Step System" for again obvious reasons and have since changed it to "Equilibrium" which is what the indicator finds on the chart. The boxes show the London, US and Asian opens and the code is from squalou's LO breakout indicator on Mer's LO BO thread.

Your use of a continued box is something new but not that different from what you see on this chart or from many traders way before the both of us. I won't lay claim to being the inventor of this channel as I'm probably one of many.

I just recently saw your comments to Forexcube and the reason for this posts. You may be the Captain of this ship but I can assure you the waters you are sailing are not uncharted.

By the way just so you know if your ship runs into a large piece of land between 70 degrees west and 122 degrees west and you don't see anybody. Don't claim it as your own because believe me there are 300 million crazy people living there and they call it America.

Johnny

I hate having to do it, but 2 more names just got added to my ignore list.

Ironically, Forexcube just recently started a copycat system based on this one. It's customary to give credit when you branch off from someone else's work, which he refused to do. But he didn't forget to ban me from posting there so I couldn't spill the beans. So not only does he steal my idea; not only does he ban me from the copycat thread -- but he has the nerve to come in here and run his mouth. I hope he enjoyed it, because it will be the last time.

I'm asking that the members here not respond to either Forexcube or JBS. They won't be able to respond to you, so don't bother provoking them.

EDIT: In case you are wondering, Forexcube has just deleted his trashy comment. He is attempting to make it look as though he was never in here. Too bad I didn't quote it, but oh well. He is still banned regardless.

It's really funny that no where in this thread did forexhard say that he was the inventor of the "breakout". I'm sure forexhard doesn't care if there 5 or 500 breakout methods out there because he's only concerned about one,

***his!***

And sorry forexhard, I've got to get this off my chest. Johnny, I've said this over and over and over (along with many others that have followed my threads), please, if you are so insightful and so successful and you want to "help" us, then open up your own thread and enlighten us with your infinite wisdom and quit being a professional poster yourself.

Remember this post you made:

"Hello Ged,

I would be interested in how you trade and then the members could give you some advice.

The problem with places like the FF is everybody has different ideas on how to make their first million. Most threads are junk and not worth reading. I find so called systems that defy all known trading logic. Most are momentum traders that look at trading as pure gambling and believe in nothing else. Their systems lack good entry and exit points and trade off simple indicators.

I find most are quite arrogant and will tell you they know everything and have read everything and have arrived at their systems through years of experience. When asked a simple question like why does your system say buy long when a monkey can see the PA is going down and a short is the obvious trade. They blast you with "get off my thread".

They are basically people whose math skills are very weak, their reading skills are very low and cannot understand anything very complex. People looking for the quick buck and don't want to put in the time needed to become a professional trader.

There are a lot of computer programmers here thinking they can program their way to riches. It takes a decent programmer with a good understanding of the forex working with a professional trader to make a great EA. I can't tell you how many times I've seen great programmers working with an idiot to come up with an EA but the number keeps rising.

In one instance I asked the simple question of why their program told me to buy long on the very next M15 bar that correctly told me to sell my existing long trade. They tried to get me in infraction. They never answered my question and the program just kept getting worse until it was downright funny to watch. They said in post #1 it took them four years to create this program. I told them they needed to learn how to trade before attempting to write an EA. I warned every newbie I saw posting on that thread until the thread died a quick death.

The other thing you see here are members with thousands of posts but little knowledge of how to trade. These people are professional posters and will never be anything more.

I've even befriended a few and offered to train them. One who actually asked for help owns his own forex trading company was unbelievably not trainable. He refused to let go of his crazy beliefs and ideas.

You can send a duck to college but when he graduates you still end up with a quack.

I have trained retired professional wall street traders which gave me insight into that world. Why you ask would I be approached by a professional trader? That was the first question that entered my mind. Like WTF man what have you been doing for 30 years on wall street? Sleeping?
I learned the actual traders that do the buying and selling don't do the analyzing.They just follow the advise of a whole staff of professional analyzers. Surprised the heck out of me, He was very easy to train and got the basics very quickly.

Most traders trade with their eyes fixed on the indicators hardly ever looking at the chart. The first thing I give them is a template with no indicators and a simple on the chart S&R. Voila! They always jump from the demo to live trading after a few hours and tell me they made more money in one day then they have in months of trading.

People make things difficult by relying on indicators which for the most part are based on simple moving averages. An indicator won't make you a better trader. You must know how to trade first. The addition of an indicator later may dress up your chart but it will never make you money. The only indicator I have on my chart below the main chart is a volume indicator. The RSI, MACD, and others I consider absolutely and totally useless. A simple moving average would be more profitable.

So show us what you are doing and we shall give you some advise.

Johnny"

Great way to make friends, right? It's pretty funny that you mention all these worthless threads, yet here you are being a "professional poster" yourself. And then you have the gall to tell us about your abomination of simple indicators, yet you post a chart here with indicators all over it.

Oh, and this one too:

"8. Some of the threads here are loaded with crazy ideas. Martingale systems with 1600 multiplier factors with 5 contracts on five currency pairs is probably the worst I've seen but that thread is now over 1100 posts and the originator with over 1100 posts. The newbies think he's a God but the truth is he hasn't a clue how to trade. I've seen posts with long trades being made at the top of the chart after the PA has already made a long run up."

It's pretty obvious your pointing your finger at me and you like bashing other people in other threads. Step up to the plate dude and let's see what you got. If mister "I have trained retired professional wall street traders" would like to help out us lowly, unintelligent traders who can't read or perform basic math, then sack up and open your own thread instead of forcing your opinion when it's not needed and very clearly not wanted, simple as that. Or maybe better yet, let's throw $1000 in a real account at the same broker, trade it for 6 months, and see who comes out on top. Maybe then when you can prove yourself first, you'd get a little more respect when you do post the stuff you do.

p.s. Oh yeah, my "martingale" strategy is up 27% for the year on a live account!

Scott, remind me never to piss you off, OK?

It's not that I'm pissed off, it's that I hate these guys who think they know the right way to trade but yet can't open their own thread and show anyone. It's kind of hypocritical if you ask me.

AMEN TO THAT!

I know what you mean, Mer. Here we have a system that uses no lagging indicators of any kind. A system that is mature and time-tested and is already banking 15-20,000 pips per year. And a teaching thread where I have called roughly 20 live trades in just the last 6 weeks, using just 1 pair and 1 time frame to do it with, with a success rate of 100%. What the hell could ANYONE have against this system for crying out loud? So excuse me people, but anyone trashing (or copycatting) me or my system is going to be soundly dealt with.

Hi FOlks!

I have been following this thread from day one and have read every post. I have a question that may or may not have been answered. I say that because I may have somehow missed it. So, if this has been asked and answered I truly apologize. I have been following this system since day one and just want to make sure I TOTALLY understand and this is the only question in the back of my mind.
And pardon me if this is a stupid question. I understand the rules for entry and I love the system. My question. Lets assume that the trade criteria has been met and I initiaite a trade after the 2nd candle opens outside the buffer zone. My trade goes as expected and I close the trade in profit. If later on that day or the next, the market takes the price back into the same CZ and it "breaks out"of that CZ again, do I trade that CZ again? Or after my first trade do I have to wait for a new CZ to form in rder to trade again?. I see how the price tends to head back into the CZ, but didnt know if it was still valid to trade based on that CZ once a break out has occurred.

Many thanks to ForexHard for such a simple, but great system. I like simple and have made some nicce live pips with this system.

Thanks for your kindness and and consideration in this post.

SirWolf