Manually closed the real money trade for about 10 pips profit after news made it slump. Still have it open in the demo account, just to see what would have happened.
Just placed this trade right now. I haven't been able to find the clear signals I found last week, or it was too late when I finally spotted them. Let's see what happens with this one...
allow me a question: Your setup there seems not fully according to rules from post 1:
BUY Limit Order Trade With The Trend 1) ZZ Semafor On BOTTOM 2) ZigZag On BOTTOM 3) Place Buy order at last HIGH (ZZ Semafor Dot) Add Spread if you want.
You only have 3), right. :-)
You dont have a semafor bottom (3ball) or the zigzag line there.
allow me a question: Your setup there seems not fully according to rules from post 1:
BUY Limit Order Trade With The Trend 1) ZZ Semafor On BOTTOM 2) ZigZag On BOTTOM 3) Place Buy order at last HIGH (ZZ Semafor Dot) Add Spread if you want.
You only have 3), right. :-)
You dont have a semafor bottom (3ball) or...
Ignored
Hi Frenchie!
All 3 were present at trade time.
1) ZZ Semaphore on bottom: if you look at the chart, you'll see the red dot where the buy stop was placed. If you follow the zigzag line that goes down and to the lkeft from the red dot, you'll see it keeps on going outside the boundary of the chart. At its end is the ZZ semaphore on the bottom. Apparently I zoomed in too much so the screenshot didn't grab the whole chart.
2) ZigZag on bottom: The yellow line hit the bottom and was on its way back up. That's the line you see going down and to the right of the red dot, it ends at a yellow dot and bounced back up. When it was going up, I placed the buy stop trade, which was executed.
ah OK, your pending order was on the red dot. I thought you put your pending on the yellow dot on the 6th bar to the left.
Thanks for the explanations.
I wonder if the lower low (red arrow) would not waive/make invalid the entry point though.
Maybe the new high should now become signal, but only after the retrace paints as well the zigzag down first, right?
DONT Trade with EMOTIONS!! If your SCARED TO LOSE MONEY....YOUR TOO SCARED TO MAKE MONEY!!
RULES:
SELL Limit Order Trade With The Trend 1) ZZ Semafor On TOP
2) ZigZag on TOP
3) Place Sell order at last LOW (ZZ Semafor Dot) Add Spread if you want. SL= Last High(ZZ Semafor Dot BEFORE SIGNAL) You can add Spread if you want. TP= 1:1-1:4+(risk/reward) or Use Other Pivots(The Daily Range indicator will tell you what pivot to MAX PROFITS) DONT BE GREEDY!
You place the order once a LOW has been formed which can be seen by the ZZ Dot & ZigZag AND the ZZ indicator & ZigZag indicator starts heading HIGHER. Once order has been filled you can move your SL to the last HIGH ZZ Dot before the entry to reduce your risk even more.
BUY Limit Order Trade With The Trend 1) ZZ Semafor On BOTTOM 2) ZigZag On BOTTOM
[color=red]3) Place Buy order at last HIGH (ZZ Semafor Dot) Add Spread if you want. SL= Last Low(ZZ Semafor Dot BEFORE SIGNAL) You can add Spread if you want. TP= 1:1-1:4+(risk/reward) or Use Other Pivots(The Daily Range indicator will tell you what pivot to MAX PROFITS) DONT BE GREEDY!
You place the order once a high has been formed which can be seen by the ZZ Dot & ZigZag AND the ZZ indicator & ZigZag indicator starts heading LOWER. Once order has been filled you can move your SL to the last LOW ZZ Dot before the entry to reduce your risk even more.
First of all thank you Dredding, wonderful stuff you have provided here. Any of the noobs that are struggling with trend, check out this modified zig zag (I did not create it) but it shows retracement levels and higher highs and lower lows.
hi mr dredding ...where can i get this template ? especially the indicator TREND at the bottom
window ...
the indicator not include at 1st page
thanks
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For which way to trade, buy or sell......GO WITH A HIGHER TFs TREND! HUH? WHAT? I dont understand?..........TREND is up to you, i look for higher highs or lower lows on a higher TF....TOO HARD? Then use a Moving Average or some kind of TREND indicator you are comfortable with like SuperTrend,TopTrend,Trend Strength,HMA,Parabolic SAR, HA CANDLE COLOR!!!...ETC...If you cant find the TREND...stick with your day job cause trend is not that hard...
Any questions look at my other thread for this system....I KNOW THE ANSWERS ARE IN IT! LOL....
Attached is the Indicators & BASIC TEMPLATE! YOU MUST ADD your Trend INDICATOR!
Hey,
This might be a silly question. Since the ZZ is based on the Elliot Waves (isn't it?), would you say your system is based on the Wave theory?
(Using "based" in the broadest sense of the word)
I am trying to understand the mechanism behind the system and am considering buying a book on wave theory.
Hey,
This might be a silly question. Since the ZZ is based on the Elliot Waves (isn't it?), would you say your system is based on the Wave theory?
(Using "based" in the broadest sense of the word)
I am trying to understand the mechanism behind the system and am considering buying a book on wave theory.
Cheers,
DreadTrade
Ignored
Well yes and no...the ZigZag indicator which is the ZZ Semafor but which has the advantage of looking at 3 time frames at once. Which is what the (1) (2) and (3) number show(big balls, medium balls or tiny balls). As in you pick the periods.....or the look back on each and then watch to see which way price is moving.
This system is described in the #1 post. Please read it and then also look at the example pictures. It is simple and straight forward like most of what i say...depending on how many shots and beers i have had that night lol.
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And since the mods here still have not fixed the EMAIL ALERT...to the posting to a thread(as in almost 2 hour and no email saying DreadTrade posted)....GOLD ALL IN MY CHAIN! lol
