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A Flying Buddha does this work?

  • #21
  • Jun 11, 2018 4:00am Jun 11, 2018 4:00am
Are you balloon testing or teaching or planning to monetize in the near future..
  • #22
  • Edited 10:59am Jun 11, 2018 5:49am | Edited 10:59am
Quoting genghistar
Are you balloon testing or teaching or planning to monetize in the near future..
no.
the FB is not my idea.
all free for you.
the charts and what i added to FB idea have been there since post # 1 i was looking for more ideas to make this FB better .
My secret was to only trade FB that are followed by an inside bar.
i have not backtest it but trading it live have work good so far.
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  • #23
  • Jun 11, 2018 6:42am Jun 11, 2018 6:42am
the key with flying buddha is when to take profit...
  • #24
  • Jun 11, 2018 6:49am Jun 11, 2018 6:49am
Quoting nozzer
the key with flying buddha is when to take profit...
Plus when to take the money to your real bank so you can pay some bills.
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  • #25
  • Jun 11, 2018 7:21am Jun 11, 2018 7:21am
Quoting Pedroall
{quote} no. the FB is not my idea. all free for you. the charts and what i added to FB idea have been there since post # 1 i was looking for more ideas to make this FB better . My secret was to only trade FB that are followed by an inside bar. scal using the 1 M or position trade using the weekly charts. i have not backtest it but trading it live have work good so far. {image}
Thanks for the charts, you didn’t have to tell the secrets

So all trades on 1 minute? That’s amazing

Do you think you used a lot of risk or just normal 1 to 2 % per trade?

there is a FB indicator, do you have it?

The risk to reward must have been enormous when they went straight into profits!

I need to research this more tomorrow
It takes a lot for me to IGNORE you, but you can try.
  • #26
  • Jun 11, 2018 7:35am Jun 11, 2018 7:35am
Quoting Pedroall
{quote} Plus when to take the money to your real bank so you can pay some bills. {image}
this post worth a lot more than the '1 like' i can give to it!!
there is always, always another trade!!
  • #27
  • Jun 11, 2018 8:25am Jun 11, 2018 8:25am
It looks more like a flying carpet to me.
  • #28
  • Edited 12:53am Jun 12, 2018 12:36am | Edited 12:53am
Quoting Erebus
{quote} Thanks for the charts, you didn’t have to tell the secrets So all trades on 1 minute? That’s amazing Do you think you used a lot of risk or just normal 1 to 2 % per trade? there is a FB indicator, do you have it? The risk to reward must have been enormous when they went straight into profits! I need to research this more tomorrow
i did not find an indicator.
the problem with the FB,is that some traders rush to enter
quote
Buy at open if open price is > 50% FIB or set limit order at 50% FIB which is considered conservative entry style. Buying outright at open price is aggressive style[/quote]
https://www.forexfactory.com/showthr...=255537&page=2
By only using the enter after an inside bar in any time frame im avoiding a lot of false signals.
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  • #29
  • Jun 12, 2018 1:06am Jun 12, 2018 1:06am
As far as I can see, this is a counter trend strategy which may be useful to get into a stronger trend in a higher time frame, or for trading in a consolidation. Just a glance at any strong trend shows rows of "flying buddha's" where you would have to be crazy to take the reverse direction. I'm guessing a good trader could make money using this strategy, but a good trader can make money (or lose it) off any line. Good trading to you folks.
Gone to a better place
  • #30
  • Jun 12, 2018 1:28am Jun 12, 2018 1:28am
Quoting nozzer
the key with flying buddha is when to take profit...
whole trading is about exits
  • #31
  • Edited 2:02am Jun 12, 2018 1:34am | Edited 2:02am
there is a document here

-->>>> https://www.forexfactory.com/showthr...13#post9012313

I will find the Indicator by Swingman soon

PS: here it is, and the chart

Note: Inside Bars NOT drawn by FB Indicator, only the MA's and arrows



Attached Image (click to enlarge)
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Attached File(s)
File Type: zip smFlyingBuddha Signals_v2.zip   17 KB | 770 downloads
It takes a lot for me to IGNORE you, but you can try.
  • #32
  • Edited 3:33am Jun 12, 2018 3:02am | Edited 3:33am
Quoting Erebus
there is a document here -->>>> https://www.forexfactory.com/showthr...13#post9012313 I will find the Indicator by Swingman soon PS: here it is, and the chart Note: Inside Bars NOT drawn by FB Indicator, only the MA's and arrows {image} {file}
Thanks
INDICES VIEW:
The trend is up .
Price at extreme high of the last 20 years.
The risk to enter a countertrend trade at this high level based in the FB/INSIDE BAR,signal is minimal
(i used my aggressive style for this trade)
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  • #33
  • Jun 12, 2018 3:22am Jun 12, 2018 3:22am
Quoting Pedroall
{quote} Thanks INDICES VIEW: The trend is up . Price at extreme high of the last 20 years. The risk to enter a counter trend trade at this high level based in the FB/INSIDE BAR,signal is minimal (i used my aggressive style for this trade) {image}
By that "risk" I am assuming you mean the risk of getting stopped out ?

Other than that, the financial risk should be the same as any other trade, the usual 1% or 2%

Best expressed as 1 x Risk unit
It takes a lot for me to IGNORE you, but you can try.
  • #34
  • Jun 12, 2018 10:45am Jun 12, 2018 10:45am
The last piece of the puzzle , Ty very much for this thread.
  • #35
  • Jun 12, 2018 3:25pm Jun 12, 2018 3:25pm
Quoting Zdrux
If you are placing trades based on some exotic candle stick patterns with multiple stipulations and funny names, you will have a bad time in trading. You are looking in the wrong places. Instead of trying to look for these patterns, but not investigate WHY this pattern happened (or any other pattern)? This way you will understand how and why the market works the way it does; instead of trying to look at charts for some specific candle pattern that meets this very specific criteria.
Yes you are absolutely right. It may give some temporary success but in long run, bad time is coming. Most people do not try to understand how the market works. It is like you are treating the symptoms instead of addressing the disease.
  • #36
  • Edited 5:28am Jun 13, 2018 5:00am | Edited 5:28am
If you are looking for a long trade, for example, and you see a bullish “Flying Buddha” candlestick appear, when the candlestick closes you can put an order for a long trade just above (e.g. 1 pip) the high of that candle. You can also place a stop loss just below the low of the candle.
If the price hits the stop loss before the entry is triggered, you can remove the entry order, as the candlestick has not “worked” as signifying a turn in price. The whole point of the Flying Buddha is to get you into a turn in price very early, which allows an entry with a tight stop loss, which should make your trade more profitable.
the whole strategy can become seriously unprofitable.
credit to https://www.dailyforex.com/forex-art...-pattern/52638
  • #37
  • Edited 6:24am Jun 13, 2018 5:07am | Edited 6:24am
Quoting Pedroall
hen the whole strategy can become seriously unprofitable. .
add BB.IB.TL
Only trade the FB that are followed by an inside bar
====================
Im giving up with this system,the reason is that all brokers show one signal and other broker tell you that there is not signal.
so is real gambling to know when there is a signal or not.
==================
Broker A does not show the same bar as broker B
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  • #38
  • Jun 13, 2018 11:48am Jun 13, 2018 11:48am
Quoting Pedroall
Too many trading ideas. If you can’t decide which Lottery game is for you here is the Flying Buddha. A Flying Buddha is any candlestick which: Has a low above the 5 EMA, when the 5 EMA is above the 10 SMA (a bearish Flying Buddha); or Has a high below the 5 EMA, when the 5 EMA is below the 10 SMA (a bullish Flying Buddha). ================================== adding inside bar lines and TL When you see a FB use your own rules to :ENTER.EXIT. ST and TP my rules is to wait for an insidebar after the Flying Buddah ===================== I'm asking if...
Has this been working well for you consistently since you started?
  • #39
  • Jun 13, 2018 12:19pm Jun 13, 2018 12:19pm
Quoting Zlattata
{quote} Has this been working well for you consistently since you started?
no.
too many false signals. you need to make it work by adding your own ideas
  • #40
  • Jun 13, 2018 5:10pm Jun 13, 2018 5:10pm
Quoting Pedroall
{quote} add BB.IB.TL Only trade the FB that are followed by an inside bar ==================== Im giving up with this system,the reason is that all brokers show one signal and other broker tell you that there is not signal. so is real gambling to know when there is a signal or not. ================== Broker A does not show the same bar as broker B {image} {image}
This is only due to the fact that different brokers use different server times.

Most major players will only ever trade with a 5pm ET NY Time end of day new Day Candle. Currently +3 GMT It's all I will ever use period! I want to be looking at the same patterns the bigger players are.

BTW, I see you like to use an inside bar after the FB, I've attached an inside bar indi if you decide to continue. But if you do I suggest using a broker that uses the 5pm ET NY Time end of day New Day candle GMT +3 otherwise all the candles will be different. During Europe DST it will be GMT +2

G
Attached File(s)
File Type: mq4 PZ_InsideBar.mq4   7 KB | 496 downloads
File Type: ex4 PZ_InsideBar.ex4   14 KB | 366 downloads
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