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Breakout Trading - Simple Weekly System

  • #141
  • Apr 15, 2020 4:27pm Apr 15, 2020 4:27pm
A small task for BoJack or other members:
- what are the trading rules (SL/TP) of the ABCD100 system that I received in an email, but which indicates another system for $ 500 ...

I suppose that the base (ABC) should be the fractal 1/1.
Attached Image
  • #142
  • Apr 15, 2020 4:59pm Apr 15, 2020 4:59pm
Quoting SwingMan
A small task for BoJack or other members: - what are the trading rules (SL/TP) of the ABCD100 system that I received in an email, but which indicates another system for $ 500 ... I suppose that the base (ABC) should be the fractal 1/1. {image}
I'm sorry SM but have never seen the ABCD100 system so I don't know the rules. The strategy that I showed you I just came up with recently and it's because I kept seeing a pattern with the H4 candle with the 3 bar setup. I took that and coupled it with the way I learned how to trade and bam....I came up with my own way to trade. I like the looks of that chart with all that $$$$ on there...lol. Looks good!
  • #143
  • Apr 15, 2020 6:52pm Apr 15, 2020 6:52pm
Quoting SwingMan
{quote} Do you think that the displayed prices should be somewhere else? That is possible, but I used the built-in price label from Metatrader. One can change that, but why should I invest time when nobody uses the indicator? I do not see any trades, charts, analyzes or comments from you or other members who use the indicator. There is the parameter "Show_TradingLevel_Values = false" to switch off the display.
Okay, you have done so well by taking your time and resources to create such an amazing indicator. Please don't discouraged. In few years of my experience in trading, about 60% of those who uses indicator do not take time to study but want quick magic result. So what they do is jump from one indicator to another looking for the invisible magic and no one can truely predict the future, hence, we fail to take time to review and study it for effectively usage.
Thank you and kindly recommend others if any. Am trend trader
  • #144
  • Apr 16, 2020 1:33am Apr 16, 2020 1:33am
Quoting SwingMan
{quote} I also thought that, because in manual trading it is better to do so!
Correct I prefer to manual trade because an EA cannot consider all the human factors and have time in the saddle experience, this indicator is a good baseline indicator for me, but like I said because I monitor 28 pairs an alert on box H or L will just make life easier for me as I still like to do some strength, volume and momentum checks before I place a trade or trades.

Best regards
Trade Without Fear
  • #145
  • Apr 16, 2020 4:13am Apr 16, 2020 4:13am
Quoting SwingMan
A small task for BoJack or other members: - what are the trading rules (SL/TP) of the ABCD100 system that I received in an email, but which indicates another system for $ 500 ... I suppose that the base (ABC) should be the fractal 1/1. {image}

https://www.forexfactory.com/showthr...33990&page=281

Post: 5615
https://www.forexfactory.com/showthr...9#post12613139
  • #146
  • Apr 16, 2020 4:34am Apr 16, 2020 4:34am
Quoting Forestralia
...
You are right with the ABCD name, but what I got has nothing to do with the Gartley pattern. It's a strange thing.

I wanted to see if someone could use reverse engineering to understand the system, try it!
  • #147
  • Apr 16, 2020 4:37am Apr 16, 2020 4:37am
Quoting SwingMan
{quote} You are right with the ABCD name, but what I got has nothing to do with the Gartley pattern. It's a strange thing. I wanted to see if someone could use reverse engineering to understand the system, try it!
I noticed that you put the option to use fractals on my indicator. I have never really used them before in my trading. I've always been more of a EA kind of guy and a price action manual trader. I know you're not on FF so you can "teach" traders how to trade, BUT....lol. Can you give me a quick 1 or 2 sentence as to how YOU would recommend me use those fractals as part of MY trading strategy? Thanks SM!
  • #148
  • Apr 16, 2020 4:49am Apr 16, 2020 4:49am
Quoting SwingMan
{quote} You are right with the ABCD name, but what I got has nothing to do with the Gartley pattern. It's a strange thing. I wanted to see if someone could use reverse engineering to understand the system, try it!

Is it maybe this one:
https://www.forexfactory.com/showthread.php?t=985306
  • #149
  • Apr 16, 2020 4:58am Apr 16, 2020 4:58am
Quoting SwingMan
{quote} New Version "sm3BarFractalBreak-BoJack v3.0" A little help for trading analysis - display of trading levels. {image} {file}
Hello, SM, can I display the price prompt of version 3.0 to the right
Also, can we only display the latest set of signals, because it can keep it simple
If you can, can you provide mq4 code？
  • #150
  • Edited 5:49am Apr 16, 2020 5:00am | Edited 5:49am
Quoting SwingMan
A small task for BoJack or other members: - what are the trading rules (SL/TP) of the ABCD100 system that I received in an email, but which indicates another system for $ 500 ... I suppose that the base (ABC) should be the fractal 1/1. {image}
Is the ABCD picture that is in the Square, is that the "setup" that they use? If so, I would ask Dazjw2311 over in the 3 Bar Fractal Break thread. It looks almost exactly like his. To be honest now that I look at it again. It's a little like Dazjw2311 setups and it's a little like my setup that I use but it's not the same as either. Again, now that I look at it a little more and I drew the example in "Paint". I like both mine and Daz's setups more than this ABCD100 set up. Both of our setups I think give a little more confirmation of a move. If you look at the picture example of the ABCD100 setup, bar C did not break the high of Bar A. If you were to look at that picture and visually "remove" Bar D. Would you trade that set up now? That picture makes it look really nice when you include Bar D....but we don't know if bar D is going to break north like it does in the picture. His "Trigger" is at the High of Bar C in this setup. Bar D has no baring on the trade set up what so ever. This person only included it into this picture to make the Setup appear to be profitable. In my opinion if you want to trade a 4 bar fractal then I would definitely trade Dazjw2311 setup over the ABCD100 setup.

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  • #151
  • Apr 16, 2020 6:34am Apr 16, 2020 6:34am
Quoting bojack34
{quote} I noticed that you put the option to use fractals on my indicator. I have never really used them before in my trading
Fractals 1/1 are drawn in your indicator only to check whether the ABC condition is met.
The levels of your patterns are all right, and with the rules such as TOTB or MoTu is fairly easy to trade.
What I would use is a simple filter, a break even and possibly a martingale 1-2-2-4.

Now about trading - I'm not a trader because I don't have time for it.
But for the fractals 1/1 and what one can do with it, you can study a lot in your free time:

- ST Patterns from Vladimir. I developed some indicators for Vladimir, also an EA, and am also quoted in his first book ...
https://www.forexfactory.com/showthread.php?t=663562

- The V trading system
https://www.forexfactory.com/showthr...79#post9963879

- Fractal level lines
https://www.forexfactory.com/showthr...6#post12647966
https://www.forexfactory.com/showthr...5#post12381195
Crossing the trend lines is one of the good tips!
  • #152
  • Apr 16, 2020 6:36am Apr 16, 2020 6:36am
Quoting SwingMan
{quote} Fractals 1/1 are drawn in your indicator only to check whether the ABC condition is met. Now about trading - I'm not a trader because I don't have time for it. But for the fractals 1/1 and what one can do with it, you can study a lot in your free time: - ST Patterns from Vladimir. I developed some indicators for Vladimir, also an EA, and am also quoted in his first book ... https://www.forexfactory.com/showthread.php?t=663562 - The V trading system https://www.forexfactory.com/showthr...79#post9963879 -...
TY SM!
  • #153
  • Apr 16, 2020 6:41am Apr 16, 2020 6:41am
Quoting bojack34
...This person only included it into this picture to make the Setup appear to be profitable.
My first impression was that he made the entry as shown in the picture with certain conditions for the fractal, and then tradet until the close of the next bar.
  • #154
  • Apr 16, 2020 6:53am Apr 16, 2020 6:53am
Quoting SwingMan
{quote} My first impression was that he made the entry as shown in the picture with certain conditions for the fractal, and then tradet until the close of the next bar.
it's hard to see the smaller pictures where the trades take place so it's hard to tell. The only picture I can see the structure is the bigger example picture at the top.
  • #155
  • Apr 16, 2020 8:05pm Apr 16, 2020 8:05pm
Quoting bojack34
{quote} i've tried a couple of times now to find an example on a chart and mark all the areas I would enter and exit a trade. It's so subjective. It would be hard to make an EA for this because my entries vary so much depending on previous levels and pivots and 00 lines etc. You could always just enter on the Open of Candle 4......and then enter again at at 33% retrace into candle 3.......and then at a 50% retrace of Candle 3. The SL will always go above/below Candle 2 slightly adjusted for any 00 line or Pivot that might be really close to that...
G'day all,

Just started to read this interesting thread today, I would appreciate if someone could let me know what are the numbers on this chart signify? Thanks
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Stay green!!!
  • #156
  • Apr 16, 2020 8:44pm Apr 16, 2020 8:44pm
Quoting Froggy
{quote} G'day all, Just started to read this interesting thread today, I would appreciate if someone could let me know what are the numbers on this chart signify? Thanks {image}
It's the length of the Candle. It's the 3rd bar of the 3 bar fractal setup.
  • #157
  • Apr 16, 2020 8:55pm Apr 16, 2020 8:55pm
Quoting bojack34
{quote} It's the length of the Candle. It's the 3rd bar of the 3 bar fractal setup.
I did measure the wrong one!!! many thanks for the answer.
Stay green!!!
  • #158
  • Apr 18, 2020 3:05pm Apr 18, 2020 3:05pm
Hello @bojack34, I really like your strategy. I was curious if you had any favs pairs, and also if you do use the Currency Strength meter as a filter ? Using which reference point ?
  • #159
  • Apr 18, 2020 3:24pm Apr 18, 2020 3:24pm
Quoting corsican
Hello @bojack34, I really like your strategy. I was curious if you had any favs pairs, and also if you do use the Currency Strength meter as a filter ? Using which reference point ?
You can see the pairs in my screenshot that I use. I still debating on keeping the CSM or ditching it. I just use it for a quick glance at market strength.
  • #160
  • Apr 19, 2020 3:33am Apr 19, 2020 3:33am
Thanks Bojack !
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