Power of Two System | Page 34 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD

Similar Threads

Two charts, Two scales, One window 2 replies

The Power Of Now 4 Forex 14 replies

Help ! How To Combine Two Dde From Two Different Brokers? 4 replies

Keeping Some Fire Power In Reserve 0 replies

Attachments: Power of Two System
Exit Attachments

Power of Two System

  • #661
  • Aug 31, 2023 12:19pm Aug 31, 2023 12:19pm
Quoting nitethinker
I am posting one more chart to end the last day of the month. After today I would probably not be posting as more or less the strategy is straightforward. GBPUSD SFT Long Bias H4 generally in a downtrend. {image} Counter SFT Short Target 3R. Will consider 2R as well. If the trade is not stopped out before news at NYKZ, I will close it. We'll see how it goes. {image} Update: Manually closed for about +1.6R. It did went quite near to 3R. {image}
On EU I was looking for pro 4H buy since BOS on 4H to the upside. Needless to say, it did not happen. Hey, My CT trades are usually a loss. 4 out of 5. I am missing something with CT at the moment. With SFT to the UP I saw a LQ sweep and 15m range sweep, so I set my buy stop order, then I got an inside bar and after that next candle invalidated my setup. I made my own rule that I always go for 1:2 while SFT is in effect.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 63 KB
  • #662
  • Sep 3, 2023 11:19am Sep 3, 2023 11:19am
Quoting klavi6a
{quote} On EU I was looking for pro 4H buy since BOS on 4H to the upside. Needless to say, it did not happen. Hey, My CT trades are usually a loss. 4 out of 5. I am missing something with CT at the moment. With SFT to the UP I saw a LQ sweep and 15m range sweep, so I set my buy stop order, then I got an inside bar and after that next candle invalidated my setup. I made my own rule that I always go for 1:2 while SFT is in effect. {image}
I think there was a recent video from Scott that addressed this scenario that you brought up. I did not have the link to the video at the moment. In that video he talked about the difference between momentum and 4H bias, and coincidentally he talked about many ICT traders would saw the BOS and started looking for trade in that direction, however, the first BOS might turn out to be a LQ sweep. So he would wait for more price action before switching direction of the momentum.

An interesting thing to take note was that one of the funded trader he interviewed only trade NFT and FT and did not trade SFT as it did not work for him.
  • #663
  • Edited 10:34am Sep 4, 2023 9:29am | Edited 10:34am
Just catching onto this thread. Been using ICT methods in a fairly basic way now for around 5-6 months with varying levels of success. Thus, had hoped to use some of the learnings here to further boost my potential profitability.

One takeaway here is that it is well defined and structured but that it does suffer from a number of grey areas or rather, areas where i feel there is unwelcome room for discretionary trading. Having read thro all 34 pages (to date) I can see that there has been a lot of great input in terms of defining how internal fractals operate and where inside bars invalidate etc, etc. I also see that the OP set out to define the approach in a nutshell manner.

Potentially the one bit that I might add to the mix might be the addition of the existence of order blocks and FVG's. I'm using cTrader (I'm a .net programmer) and have created a somewhat hybrid of the TPOT and FVG model and wonder if that may give further depth here.

By way of example, the screen below is the EU containing:

OB (order blocks)
FVG (Fairvalue Gaps)
Hi/Low fractals (red green arrows)
BOS (break of structure -white stars)
15 minute Fractal range (grey rectangle in centre of image - 4 hour is also presented but is out of focus due to sizer of range at present)

Attached Image (click to enlarge)
Click to Enlarge Name: tpot-fvg-etc.png Size: 40 KB



I know the mix is a bit sickly, but I'd be interested to see if anyone else has gone down this hybrid route and if they've discovered value in it. Hopefully, adds a little extra to the concept.

cheers
jim
  • #664
  • Sep 4, 2023 1:54pm Sep 4, 2023 1:54pm
jumped on this trade, it's 2R now, it was A textbook trade, hope it will reach the TP.

I began trading it live from this week on, I'll post my TPOT setups in this hope you comment on it,
4H
Attached Image (click to enlarge)
Click to Enlarge Name: TradingView_Screenshot_1693852605810.jpg Size: 237 KB

15M
Attached Image (click to enlarge)
Click to Enlarge Name: TradingView_Screenshot_1693853550250.jpg Size: 267 KB
  • #665
  • Edited Sep 5, 2023 2:48am Sep 4, 2023 4:39pm | Edited Sep 5, 2023 2:48am
ClimbingGoat - that trade setup effectively illustrates my assertion regards combining FVG and the TPOT strategy. Look at the FVG formed by that large bullish candle!!

I would however (based on my ICT/FVG approach) have gone long on that.

Attached Image (click to enlarge)
Click to Enlarge Name: TradingView_Screenshot_1693852605810.jpg Size: 173 KB


Food for thought at least.

jim
[edit] added chart with FVG marked out
  • #666
  • Sep 5, 2023 8:14am Sep 5, 2023 8:14am
I've been trying to add FVG & OB into the mix, however, with mixed results. FVG I did not see much help of like with OB. And yet, OB when found I see a very nice and convenient usage, unfortunately, it's 50-50. It's been 50-50 for me with either breaker or mitigation blocks.
  • #667
  • Sep 5, 2023 8:19am Sep 5, 2023 8:19am
DXY suggests a NFT.
Same for GU.
At the same time EU is SFT to the downside.
No trades for me today. I wait for a clearer sign.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 29 KB
Click to Enlarge Name: screenshot.png Size: 28 KB
Click to Enlarge Name: screenshot.png Size: 26 KB
  • #668
  • Sep 5, 2023 5:25pm Sep 5, 2023 5:25pm
Quoting klavi6a
I've been trying to add FVG & OB into the mix, however, with mixed results. FVG I did not see much help of like with OB. And yet, OB when found I see a very nice and convenient usage, unfortunately, it's 50-50. It's been 50-50 for me with either breaker or mitigation blocks.
Depending on your R:R, 50% would be a total winner - no??
  • #669
  • Sep 5, 2023 10:21pm Sep 5, 2023 10:21pm
Quoting jimibt
{quote} Depending on your R:R, 50% would be a total winner - no??
Yes, but I don't like the 50/50 odds with OB. My win rate without using OB is @ 61% so eventually if someone shares a good tip about using OB with TPOT I'd love to add OB and bump my win rate.
  • #670
  • Sep 6, 2023 3:39am Sep 6, 2023 3:39am
Quoting klavi6a
{quote} Yes, but I don't like the 50/50 odds with OB. My win rate without using OB is @ 61% so eventually if someone shares a good tip about using OB with TPOT I'd love to add OB and bump my win rate.
i know we're chatting one liners here, but wouldn't 61% (with the correct money management) be enough to work with?? I know that further mitigations are always good, but in my experience, the additional mitigations give fewer opportunities and thus the equity curve and drawdowns can have a bigger impact.

FWIW - i'll probably still investigate any synergies between FVG/OB and TPOT, but have a feeling that it may just dilute opportunity. please continue to add your commentary and insights, as will I.
  • #671
  • Sep 6, 2023 10:14am Sep 6, 2023 10:14am
Quoting jimibt
{quote} i know we're chatting one liners here, but wouldn't 61% (with the correct money management) be enough to work with?? I know that further mitigations are always good, but in my experience, the additional mitigations give fewer opportunities and thus the equity curve and drawdowns can have a bigger impact. FWIW - i'll probably still investigate any synergies between FVG/OB and TPOT, but have a feeling that it may just dilute opportunity. please continue to add your commentary and insights, as will I.
Well said, my friend! Well said!

P.S.> 61% is great. That's why I abandoned the OB/FVG idea. But I'd love to have it as a confirmation for my trades. So, looking forward for your discoveries.
  • #672
  • Sep 7, 2023 10:10am Sep 7, 2023 10:10am
GU with SFT to the downside - did not go through.
SFT to the downside on 4H,
Most recent fractal High & Range high on 15m taken.
Red news was 1 hour earlier.

That SFT matter is still very murky and not quite predictable.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 62 KB
  • #673
  • Sep 8, 2023 7:56am Sep 8, 2023 7:56am
Quoting jimibt
{quote} i know we're chatting one liners here, but wouldn't 61% (with the correct money management) be enough to work with?? I know that further mitigations are always good, but in my experience, the additional mitigations give fewer opportunities and thus the equity curve and drawdowns can have a bigger impact. FWIW - i'll probably still investigate any synergies between FVG/OB and TPOT, but have a feeling that it may just dilute opportunity. please continue to add your commentary and insights, as will I.
@jimibt now here is an example from right now. GU had SFT to the down and price retraced into premium where it provided us with NFT to the up. Great to look for shorts, considering the fact that the momentum on 4H is Bearish. However, notice how price swept the 15m most recent fractal high & 15m range high and on very next candle you are triggered in only to be stopped out 1 candle later - even with SL = round up + 3pips. (I see many similar cases with GU)

At the same time see the OBs (bearish one right after LDN KZ ends, and one at NY open). They were both @ institutional level of X.XX8.

If you can tell me how we can utilize those two suckers - I'll buy you a beer!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 76 KB
  • #674
  • Sep 8, 2023 10:06am Sep 8, 2023 10:06am
At the end of NYKZ - EU offered a sell setup. I did not get into it because that 3R is bigger than my 4H range. But with FT to the downside + Bearish momentum I marked this trade up to keep an eye.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 64 KB
  • #675
  • Edited 9:02am Sep 11, 2023 1:07am | Edited 9:02am
Looks like EU is in Downtrend. Moste recent 4H Fractal Hi is NFT, same for 4H Fractal Lo - NFT.
With price in Premium and NFT to the upside I'll be looking for sells.
At the same time, before jumping into a trade I'll be keeping an eye on DXY because price broke below 4H Low and is UNC for now. If it goes to NFT I'll be most definitely looking for EU sells.


UPDATE: DXY changed to FT so I'll hold any EU sells. On a side note, GU has SFT to the upside in effect. So, I'll tkae it as a second confirmation EU might go up.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 67 KB
Click to Enlarge Name: screenshot.png Size: 22 KB
Click to Enlarge Name: screenshot.png Size: 22 KB
  • #676
  • Sep 12, 2023 4:36am Sep 12, 2023 4:36am
been away for a few days, so not been active on markets. I plan this week to review in more detail, all of the previous method adjustments mentioned in the course of these pages.

The fractal High/Low approach, using the combo of timeframes really shouts out to me and altho there is obviously a lot that can't be seen using this simple approach, i keep coming back to the recurring theme that the most effective strategies are simple. I certainly won't be adding any traditional TA indicators and would prefer to use some basic math/pattern theory to tie together the 2 timeframes. obviously, a BIG WIP to be honest, but you never know what's under the covers until you dissect the basics and re-assemble.

One thing that did occur to me was that adding in a 3rd timeframe for divergence may also work well, i.e. using the m5, h1 and daily for example and looking for alignment on the m5 and h1 where they diverge from the daily...
  • #677
  • Edited 6:30am Sep 14, 2023 6:07am | Edited 6:30am
Quoting klavi6a
{quote} On EU I was looking for pro 4H buy since BOS on 4H to the upside. Needless to say, it did not happen. Hey, My CT trades are usually a loss. 4 out of 5. I am missing something with CT at the moment. With SFT to the UP I saw a LQ sweep and 15m range sweep, so I set my buy stop order, then I got an inside bar and after that next candle invalidated my setup. I made my own rule that I always go for 1:2 while SFT is in effect. {image}
Normally there is there a momentum filter to determine wither to counter or not, and including not trading between 0.45 and 0.55
  • #678
  • Sep 18, 2023 10:29am Sep 18, 2023 10:29am
I am done with back testing EU for 2022 & 2023. I was going to same for GU but changed my mind and am doing UC instead. I'll be doing live testing at the same time. This is what I got for today with UC.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 69 KB
  • #679
  • Sep 18, 2023 10:34am Sep 18, 2023 10:34am
Quoting klavi6a
I am done with back testing EU for 2022 & 2023. I was going to same for GU but changed my mind and am doing UC instead. I'll be doing live testing at the same time. This is what I got for today with UC. {image}
If you need help backtesting let me know
  • #680
  • Sep 18, 2023 10:57am Sep 18, 2023 10:57am
Nothing particular comes to mind. But any help is appreciated. What do u have?
0 traders viewing now