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I challenge you to fail with this

  • #21
  • Jan 22, 2018 2:18pm Jan 22, 2018 2:18pm
Quoting shobz99
hi thanks for sharing your trading method, something similar i found in the form of EA with recommendations about using TP and SL for this method. please check this link and description https://www.mql5.com/en/articles/1946
the most important part ------>

Attached Image (click to enlarge)
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Not sure if entry same as OP, I have to do more reading

Thanks for sharing Joseph95
MAY THE TREND BE WITH YOU
  • #22
  • Edited Jan 23, 2018 5:04am Jan 22, 2018 2:41pm | Edited Jan 23, 2018 5:04am
Attachment G Edit: in the first screenshot I mean sell stop, sorryAttachment G
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Click to Enlarge Name: correct.PNG Size: 20 KB
  • #23
  • Edited 3:11pm Jan 22, 2018 2:46pm | Edited 3:11pm
Quoting Erebus
{quote} the most important part ------> {image} Not sure if entry same as OP, I have to do more reading Thanks for sharing Joseph95

Thank you for your trust Erebus. You have lost the challenge!
  • #24
  • Edited 3:14pm Jan 22, 2018 2:53pm | Edited 3:14pm
For those who asked me more examples, i hope you understand now. It's not difficult, very easy to spot.

Note: The false breakout of the previous high/low there must always be

Attachment G>
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Attached Image
  • #25
  • Jan 22, 2018 4:09pm Jan 22, 2018 4:09pm
Without trying to offend, what a BULL-shit I can come up with thousands of such patterns. Test it for future trades instead of back testing. Anyways, thanks for sharing
  • #26
  • Jan 22, 2018 4:39pm Jan 22, 2018 4:39pm
What about lower timefrasmes 4hours and 1 hour ? All major pairs ?


Thank You

Best regards
  • #27
  • Jan 22, 2018 4:43pm Jan 22, 2018 4:43pm
Quoting paka
Without trying to offend, what a BULL-shit I can come up with thousands of such patterns. Test it for future trades instead of back testing. Anyways, thanks for sharing

No offense, it's just an observation that I wanted to share. You can consider it good or bad, it does not change my life.

Without trying to offend you, but I bet my balls that you would never turn to a stranger like that in real life, otherwise you know how many slaps you would have taken so far Let's moderate terms
  • #28
  • Jan 22, 2018 4:51pm Jan 22, 2018 4:51pm
There's a number of things wrong here. First of all, what are you offering to those who take you up on your challenge and prove it doesn't work?

Now for the errors or unclear aspects of your strategy explanation.

1) Your opening graphic shows a line and "PO here" text with no explanation as to what "PO here" means. Further, the line marking "PO here" just doesn't follow the rules of your strategy from what I can tell.

2) Sunday days. Your charts include lots of small bars every 5 days which indicates your showing Sunday days. This can screw things up if your basing breakouts from a few hours of price action on a Sunday. Anyone doing daily chart analysis needs to ignore Sunday days and/or better yet get with a charting program and broker/server which shows days based on NY close (GMT +2/3) and therefore doesn't show small Sunday days on daily charts.

3) "Sell limit below" In one image you described a "sell limit order below..." when I believe what you mean to say is to set a "sell stop" order. Big difference.

I'm sure there's more, but, that's some of the erroneous details I've spotted so far.

Note: I think it's awesome people share their excitement about their strategy ideas here. But, as the saying goes, "the devil's in the details." And, as the trading market knows "those who don't nail the details go to hell."
  • #29
  • Edited 5:05pm Jan 22, 2018 4:55pm | Edited 5:05pm
Quoting billworld
There's a number of things wrong here. First of all, what are you offering to those who take you up on your challenge and prove it doesn't work? Now for the errors or unclear aspects of your strategy explanation. 1) Your opening graphic shows a line and "PO here" text with no explanation as to what "PO here" means. Further, the line marking "PO here" just doesn't follow the rules of your strategy from what I can tell. 2) Sunday days. Your charts include lots of small bars every 5 days which indicates your showing Sunday days. This can screw things...

Thank's for the correction. Sometimes I get confused between sell stop and sell limit, i'm not very good in english. PO is pending order.

Regard the rest, just observations. I'd like to see other backtests on other pairs, that's it. If it is "Bullshit" we'll ignore it and we will move on

Regard the "offer" i'm not offering nothing. If you lose you got something that could work. If you win it's still a good thing

"I have not failed. I only found ten thousand ways that would not work" [Thomas Edison]
  • #30
  • Jan 22, 2018 5:09pm Jan 22, 2018 5:09pm
Quoting jgadefelth
What about lower timefrasmes 4hours and 1 hour ? All major pairs ? Thank You Best regards

Hello, i don't know! But i think it's better if you don't search under the 4hours... let me know! And i'm looking that on all 28 pairs

Cheers
  • #31
  • Jan 22, 2018 5:43pm Jan 22, 2018 5:43pm
So, NZDUSD would be a possible candidate... buy stop placed above 2nd candle from the right...
Attached Image
  • #32
  • Jan 22, 2018 6:38pm Jan 22, 2018 6:38pm
Quoting Joseph95
For those who asked me more examples, i hope you understand now. It's not difficult, very easy to spot. Note: The false breakout of the previous high/low there must always be 2644003> {image} {image}
How do you define a fake breakout?

On the first picture there is no fake breakout. The price actually did break out to the down side.
  • #33
  • Jan 22, 2018 6:41pm Jan 22, 2018 6:41pm
Quoting hibra68
{quote} How do you define a fake breakout? On the first picture there is no fake breakout. The price actually did break out to the down side.
That's the problem with this thread and the described "strategy." While well-intended I think there's some confusion on the part of the author of this thread. Accordingly, take it all with a grain of salt.
  • #34
  • Jan 22, 2018 7:05pm Jan 22, 2018 7:05pm
Quoting billworld
{quote} That's the problem with this thread and the described "strategy." While well-intended I think there's some confusion on the part of the author of this thread. Accordingly, take it all with a grain of salt.
++++++++++++++++++

Or use it as a building block.
  • #35
  • Jan 22, 2018 8:02pm Jan 22, 2018 8:02pm
I am testing on live account and looks and works very well
  • #36
  • Jan 22, 2018 8:28pm Jan 22, 2018 8:28pm
Quoting Forexholy
I am testing on live account and looks and works very well
++++++++++++++++++++++

Daily only?
  • #37
  • Jan 22, 2018 8:55pm Jan 22, 2018 8:55pm
Yes Daily I am central Time my daily started at 4:00 PM
working very well so far
  • #38
  • Jan 22, 2018 11:33pm Jan 22, 2018 11:33pm
Quoting billworld
{quote} That's the problem with this thread and the described "strategy." While well-intended I think there's some confusion on the part of the author of this thread. Accordingly, take it all with a grain of salt.
I can only guess at it but I think he meant rejection to the downside not fakebreakout.

But its just a guess.
  • #39
  • Jan 23, 2018 12:01am Jan 23, 2018 12:01am
So can we first get a indicator developed to identify this pattern/formation, cuz as of right now all I see is a rejection on some MA (not sure what period) and the pattern hasnt really been described. Or am I missing something?
Learn, a forex trader must, unlearn and relearn he will.
  • #40
  • Jan 23, 2018 12:12am Jan 23, 2018 12:12am
Quoting COGSx86
So can we first get a indicator developed to identify this pattern/formation, cuz as of right now all I see is a rejection on some MA (not sure what period) and the pattern hasnt really been described. Or am I missing something?
Thanks for sharing to the OP.

You could also try:

1. bearish candle.
2. next, bullish candle that closes above the open of previous.
3. next, within the next few (1 to 5) candles, look for a candle that closes below the open of bullish candle in step 2.
4. then finally, enter sell and target the low of the bullish candle in step 2.

As another user mentioned earlier, you could come up with many other patterns by looking at the charts. I noticed this one a few minutes ago while I was trying to figure out the OPs description.
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