Snake eye | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Has anyone heard of the snake up snake down strategy? 0 replies

Snake Indicator 24 replies

Snake In The Clean Shadow. 3 replies

Add (sound) alert to Snake Force Indicator 0 replies

Snake-Eye Trading Method 24 replies

Attachments: Snake eye
Exit Attachments

Snake eye

  • #21
  • Dec 7, 2017 10:35am Dec 7, 2017 10:35am
Quoting MoneyZilla
{image} {image}
Hello,
What are the up and down channel?

green pips
Bottomless wonders spring from simple rules, which are repeated without end
  • #22
  • Edited 10:56am Dec 7, 2017 10:45am | Edited 10:56am
Quoting Ilkh
Do you mean h4 for entry and d1 for trend zilla?
D1 is very slow. H4 is faster. you can do the same on any of these. Just keep in mind, some ranging months might end in loss while chasing the money on D1. H4 seems universal to me. In trend, D1 delivers most of the pips however...

Do not trust BT too much. I BT only to get a glimpse. To feel the potential. BT is deluding. You might abandon some golden strategies. BT should not be trusted. At all. It should be used as indication only. Whatever they tell you, do not trust them. You can make it. Above all BT is meant to disappoint you...

Quoting Ilkh
Mozilla do you double your lots with every flip?
Never. I open 0.01. Might add a new basket each new flip. That is all. I never change the lotsize of a basket. It forever remains 0.01. Otherwise I cannot survive the choppy times. It is simply impossible to make it, if you increment the lotsize...

Quoting limprobable
{quote} What are the up and down channel?
MA 2 on high and low. I would not recommend any values over 10.
Maadik Hugiis. IQ 69.
  • #23
  • Dec 7, 2017 10:54am Dec 7, 2017 10:54am
Set with a 8 period simple moving average set at “low” and 10 period simple moving average set “high” – configured with bars. This is the main chart used to look for trade set-ups.

It's all in his initial intro.
  • #24
  • Dec 7, 2017 10:57am Dec 7, 2017 10:57am
Thank you MoneyZilla. It feels that I have to remodel most of this strategy

I like your ideas only when you not increase the lot size do you increase your target every flip? I dont get how to make money with it.
5 flips means 4 looser 1 winner thats hard ti make profit without bigger your lotzise. isnt it? I have to get what you mean..
  • #25
  • Dec 7, 2017 11:03am Dec 7, 2017 11:03am
Quoting Ilkh
I like your ideas only when you not increase the lot size do you increase your target every flip? I dont get how to make money with it. 5 flips means 4 looser 1 winner thats hard ti make profit without bigger your lotzise. isnt it? I have to get what you mean..
Yes, each flip increases the distance required. I only ask for $5 bucks. on average. I average the baskets. So, basket 1 took 5 flips, basket 2 took 4, ext. Basket 6 took none. This means the take off trade is now 0.06, cause there are 6 baskets within. The average flip is 2.5 for each basket. Imagine a flip is 10 pips, so, all you need to break even is some funny 25 pips in the take off direction. After the 25th pip, you start making money. Set $5 buck on a basket and you got yourself $30 bucks at the 75th pips. That is normal. It is not a big goal. Higher goals end up in tears. Not recommended.
Maadik Hugiis. IQ 69.
  • #26
  • Dec 7, 2017 11:19am Dec 7, 2017 11:19am
Folks, one thing you should keep in mind. This is very important. The MA channel touches are equal on both sides.

For example, on M15 on gold, the last 415 touches produces 207 buys and 208 sells. Same thing, but every candle touch, produced 988 in total, of which 483 buys and 485 sells. This is live example on gold.

The rate goes outside both channel lines EQUAL NUMBER of TIMES.

This channel strategy is uber powerful, but before mastering it, you should know that fact. In forex, all comes down to 0. This is their basic law. Buy/Sell candles, buy/sell pips, ext. It is all brought down to 0. There is an equal number of buy and sell pips/candles/days/ext. Almost perfectly equal. That is why trading is so hard...
Maadik Hugiis. IQ 69.
  • #27
  • Dec 7, 2017 11:29am Dec 7, 2017 11:29am
Ahh okay mate I got you!
That makes Sense. I will try this in my strategy Tester.
But now you say the take of trade is 0.06lot? Is this correct?

Haha your so wise Yea all goes to zero over 1000 candles we got some around 489 red and 511 Green almost the same number. Samer1970 had made a great ea for counting the candles.

Thank you very much im very confident now to get this work.
  • #28
  • Dec 7, 2017 11:29am Dec 7, 2017 11:29am
Just my opinion but Forex is often cited to be a zero sum game but when you take spreads into account it isn't really.
  • #29
  • Dec 7, 2017 12:37pm Dec 7, 2017 12:37pm
Handy your absolut correct its like every casino.

Money zilla if you dont open bigger lots? And you start with 10 Pips profit and double this amount every flip doesnt it reduce the Chance to win a flip?
Everyday better.
  • #30
  • Dec 7, 2017 2:27pm Dec 7, 2017 2:27pm
Quoting arlucad
Money zilla if you dont open bigger lots? And you start with 10 Pips profit and double this amount every flip doesnt it reduce the Chance to win a flip?
I cannot understand what you mean...

I am adding a new basket at every next flip. This helps a lot at the exit point. Maybe it looks impossible to make money, but it is not so...
Maadik Hugiis. IQ 69.
  • #31
  • Dec 7, 2017 2:32pm Dec 7, 2017 2:32pm
Okay I think I get wrong what you mean with a basket.

I mean you wrote that you increase the pip Distance you need to win with every flip. Is this through lot increase or through widening your take profit Distance?

I thought that you open a new basket when you won. I dont understand how you open a new basket every flip.
Everyday better.
  • #32
  • Dec 7, 2017 2:51pm Dec 7, 2017 2:51pm
Arlucad, it is simple. A new basket is a new trade. A loser flips at a loss and now there are two baskets opened (0.01+0.01=0.02). A new flip comes. This time it is a positive flip. A third basket is opened at the third flip. Ext.

I do positive flips as well. It is not all only negative flips and then wait for the target.

At trend, I do 80% trend flips and 20% counter trend flips (positive and negative). This helps reducing the positive pips needed to get out of trading. I bring my baskets regularly down to 0 lots at every opportunity given. Thus the DD stays low and I can open a new EA every two weeks.
Maadik Hugiis. IQ 69.
  • #33
  • Dec 7, 2017 2:55pm Dec 7, 2017 2:55pm
!!!!!!!!!!!!

Now I understand! !! Thank you! I think what you say will help every bdy here not only me.
Everyday better.
  • #34
  • Dec 7, 2017 3:13pm Dec 7, 2017 3:13pm
Guys that is awsome! I really hope that thread and method grows to a nice completed method. With that I can make money. I know most wont but when I can its enough foe me
  • #35
  • Dec 7, 2017 9:22pm Dec 7, 2017 9:22pm
Quoting Ilkh
Guys that is awsome! I really hope that thread and method grows to a nice completed method. With that I can make money. I know most wont but when I can its enough foe me
I think you should use a hard stop at the other side of the ma channel.
Because sometimes the price goes all the way 200 pips before it closes.
So closing an long trade when the price closes below lower ma and reversing to a sell trade is a good idea to catch the big trends but u dont want to wait untill it goes 200 pips before it goes the other way.
You have to have a hard stop.
Attached Image (click to enlarge)
Click to Enlarge Name: CHFJPYH4.png Size: 57 KB
  • #36
  • Dec 8, 2017 2:17am Dec 8, 2017 2:17am
First trade in usdjpy today +5 pips with better management it could be more.

I try to get the flipping part but this time it worked with the first trade im happy.
  • #37
  • Dec 8, 2017 2:36am Dec 8, 2017 2:36am
idea gets attention, people like idea, people want to change idea - too make it better.
Thread starter encourages more ideas and conversation.

Idea gets adulterated, too make it simpler for the masses who want mechanical.
Idea gets form fitted to fit back test coders quims.

Edge fades, thread dies, attentions seek new Idea...

new/ recycled idea gets attention, peolpe like idea, people want to change idea - to make it better....
  • #38
  • Dec 8, 2017 2:54am Dec 8, 2017 2:54am
Yep thats the lifecycle of a strategy in Forexfactory.

But i dont want to get alot people in this thread and all make money together. When someone get his edge out of the strategy, perfect. But first i want to make money myself.

I´m not a marketer i´m a trader. I have the time and the patience to trade not to search for the ea that makes money for a few months and then die.

I have much to learn and for now watch the chart almost the whole day to get a feeling.

Lets see how this works
  • #39
  • Dec 8, 2017 3:40am Dec 8, 2017 3:40am
The reality is only one guy will become profitable, eventually. That would be the guy who will never give it up, till the end.

The life span of that one guy, looks like this:

1-3 months to adjust the strategy for low DD performance, on a DEMO.

6+ months to master it, on a DEMO.

Many can join that one fella, but they are not here for that. They are here for that magic HG EA, that will simply print money for them, so they can go and enjoy high class female professionals, more bentleys and yachts, ext.;-)
Maadik Hugiis. IQ 69.
  • #40
  • Dec 8, 2017 4:47am Dec 8, 2017 4:47am
You are right this strategy definitely involves a lot of screen time practice . The problem though is the money management , how to let the losses go without getting killing off a good potential trade Too soon.

Quoting MoneyZilla
The reality is only one guy will become profitable, eventually. That would be the guy who will never give it up, till the end. The life span of that one guy, looks like this: 1-3 months to adjust the strategy for low DD performance, on a DEMO. 6+ months to master it, on a DEMO. Many can join that one fella, but they are not here for that. They are here for that magic HG EA, that will simply print money for them, so they can go and enjoy high class female professionals, more bentleys and yachts, ext.;-)
0 traders viewing now