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Tease Me more @cpfleger

  • #1,381
  • Oct 17, 2023 10:15am Oct 17, 2023 10:15am
ZazenBoy,
Daily Performance.
You trade for - 4 hours and out of those 4 hours, you made 10 trades and won 8 and lost 2 = 80% positive performance for the day.
Now, most Hedge Fund Managers recruit Human Traders that are specialist - specialize in 1 to 3 Instruments only.
Prop Firms recruit Human Traders as general traders that can make 1 to 5 % per month on any and all Instruments.
Personally, 1 to 3 Instrument per 4 hours a day is more than enough per Trader.
cpfleger
  • #1,382
  • Oct 17, 2023 10:22am Oct 17, 2023 10:22am
ZazenBoy,
My Wife's account - start with 5 USD every week and I try and make 10 to 20 times the balance by Friday for she can withdrawal and spend over the weekend.
cpfleger
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  • #1,383
  • Oct 17, 2023 10:23am Oct 17, 2023 10:23am
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  • #1,384
  • Oct 17, 2023 11:27am Oct 17, 2023 11:27am
Quoting cpfleger
timesunsea, See screenprint. cpfleger {image}
Cpfleger,

Please let me know if I understand correctly what you mean in the screenprint:

1) You suggested me to enter the trade earlier: in fact, when I opened the chart, the second red candle (the one after the candle with white arrow) was being printed already and crossed the body of the previous candle, so my entry was not the optimal one.

2) You suggested me to close the trade for profit when the price reached the previous green candle body:
- Do you mean to take profit gradually when price reach each previous green candle body? I tend to follow your 3 candles rule as my first target (unless there is a double wick candle printed / or the candle closed with a shorter wick than the one of the previous candle). In my case, it seems that moving the SL to break even after 10 pips profit is not a good choice, which leads me to the next question below.
- I went through every single page of this thread but I think there is no information about Break Even stoploss being discussed. Can you share some pieces of advice regarding to BE stoploss or trailing stop? (Please forgive me if you already discussed about it and I missed it)

Thanks,
TimeSunSea
  • #1,385
  • Oct 17, 2023 11:53am Oct 17, 2023 11:53am
timesunsea,
Targets are GUIDES to help a Trader improve his / her performance. Earlier you were a little late on your entries, so I offered the previous Candle Body as an opportunity to improve your entry, simply put. There are plenty of ways to improve a traders performance.
Exiting is based on the experience of the Trader and the defined Rules.
My question to YOU and others, do you zoom inwards and watch the candles closely ??? Do YOU watch the candle Timer for 5 seconds before the next candle opens to ensure you are ready - entry timing will Lag too just like Indicators.
I do not talk about Breakeven at all, what a waste of time. Trailing Stop Losses are good but require practice to each Instrument due to their price and spreads.
All I am doing is to assist people in improving their performance by being better at entries and managing the trade... which is why I ask for their daily performance...
cpfleger
  • #1,386
  • Oct 17, 2023 12:02pm Oct 17, 2023 12:02pm
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  • #1,387
  • Oct 17, 2023 12:12pm Oct 17, 2023 12:12pm
Quoting cpfleger
ZazenBoy, Daily Performance. You trade for - 4 hours and out of those 4 hours, you made 10 trades and won 8 and lost 2 = 80% positive performance for the day. Now, most Hedge Fund Managers recruit Human Traders that are specialist - specialize in 1 to 3 Instruments only. Prop Firms recruit Human Traders as general traders that can make 1 to 5 % per month on any and all Instruments. Personally, 1 to 3 Instrument per 4 hours a day is more than enough per Trader. cpfleger
cpfleger,
I'm not sure if this is the answer. I have compiled the latest results.
All have been posted as images so far. There are some parts where the detailed numbers are slightly incorrect, but I have corrected them to the extent possible.

Pair: GBPUSD
TF: 1h
Period: 2021.03.16 - 2022.01.25
Total Trades: 19
Profit Trades: 8
Loss Trades: 11
Winning Rate: 42%
Average Profit Trade: 7176 yen
Average Loss Trade: -4587 yen

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  • #1,388
  • Oct 17, 2023 12:17pm Oct 17, 2023 12:17pm
ZazenBoy,
See screenprint.
Its hard to see the entry line because of your Buy / Sell Indicator window and not on the Chart.
And yes to the performance report - winners vs losses = %
cpfleger
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  • #1,389
  • Oct 17, 2023 12:46pm Oct 17, 2023 12:46pm
Quoting cpfleger
ZazenBoy, See screenprint. Its hard to see the entry line because of your Buy / Sell Indicator window and not on the Chart. And yes to the performance report - winners vs losses = % cpfleger {image}
cpfleger,
I'm not very good at English, so I may not be able to fully understand what you're saying, sorry. It's hard to see the entry line, but I post screen prints in chronological order, and entries are made based on the time when "buy" or "sell" is posted. Trading is done on an hourly basis, but the time advances in 15 minute increments. Therefore, the entry line (rate at which I entered) is the same as each posted image. The reason why I am buying at the second white arrow instead of the first white arrow is because in an exchange here the other day, there was an opinion that it would be better to forego the first reversal, so I followed those words. , I decided to skip the first white arrow and enter it by reversing the second and subsequent ones. The reason why I do not make payments using ZZ Pip Counter is that, as I have written in my past posts, if you make payments immediately after ZZ Pip Counter is displayed, the average profit will be smaller. The rules were to make the payment after the ZZ Pip Counter or SR Line was displayed, so I thought, ``If you are buying after the ZZ Pip Counter appears, make the payment when the high price falls.'' , I made a slight adjustment to say, ``If you are selling, settle when the low price goes up.'' By doing so, there were an increasing number of cases where profits could be extended to New SR Line. I wrote about this in the image, but since no one pointed it out to me, I proceeded with the verification using that rule. If this method is not good, next time I will change the rule to make the payment when the ZZ Pip Counter is displayed. I am sorry.
  • #1,390
  • Oct 17, 2023 1:06pm Oct 17, 2023 1:06pm
Hello fellow traders,

I've been experimenting with the system too, particularly trying to optimize it for scalping on EURUSD using the M1 and M5 timeframes.

Outcome: +22 pips. It's a mixed bag – while not outstanding, it's still in the green, which counts for something.

From my experience, I'd be cautious using it on the M1 timeframe; the M5 and above seem to offer more dependable signals. In terms of exiting trades, I tend to rely on my intuition and the real-time price movement I observe, closing out trades when I sense the momentum is peaking or pausing.

Huge thanks to the pioneers of this discussion. Wishing everyone prosperous trading ahead!

Note: A minor hiccup I noticed was that the SR vertical lines obscure the HA wicks, complicating readability.
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  • #1,391
  • Oct 17, 2023 1:58pm Oct 17, 2023 1:58pm
Quoting quesqueleff
Hello fellow traders, I've been experimenting with the system too, particularly trying to optimize it for scalping on EURUSD using the M1 and M5 timeframes. Outcome: +22 pips. It's a mixed bag – while not outstanding, it's still in the green, which counts for something. From my experience, I'd be cautious using it on the M1 timeframe; the M5 and above seem to offer more dependable signals. In terms of exiting trades, I tend to rely on my intuition and the real-time price movement I observe, closing out trades when I sense the momentum is peaking...
Why not simply make the wicks thicker or shade the area instead of having lines.
  • #1,392
  • Oct 17, 2023 2:53pm Oct 17, 2023 2:53pm
Quoting handy148
{quote} Why not simply make the wicks thicker or shade the area instead of having lines.
I completely missed the wick width option. Cheers for that.
  • #1,393
  • Oct 17, 2023 2:59pm Oct 17, 2023 2:59pm
Or zoom in all the way and YOU can see both - wicks and vertical line color.
cpfleger
  • #1,394
  • Edited 5:41pm Oct 17, 2023 4:07pm | Edited 5:41pm
The system is working quite well for me, and I use M1 as you already know, but I have been noticing for several days, as Ronin said, that some do not observe the market and sometimes we forget the most basic things.

The SR usually marks a complete cycle (72), which usually consists of 3 impulses, with their respective setbacks.

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Therefore, if I enter a white arrow that is an impulse, I always do one of these 3 options:

1- I exit the operation whenever the zigzag number appears at the end of an impulse.
2- I exit the operation on impulse 2 or risk until impulse 3. (in my case I observe M5 to see if I can continue).
3- If I enter a white impulse arrow and the zigzag number appears immediately, I close the operation quickly because either there will be no more impulses or I entered in the middle or end of one of them.

Saludos, Kraneos.
Saludos, K.
  • #1,395
  • Oct 17, 2023 5:34pm Oct 17, 2023 5:34pm
Quoting Kraneos
The system is working quite well for me, and I use M1 as you already know, but I have been noticing for several days, as Ronin said, that some do not observe the market and sometimes we forget the most basic things. The SR marks a complete cycle (72), which usually consists of 3 impulses, with their respective setbacks. {image} Therefore, if I enter a white arrow that is an impulse, I always do one of these 3 options: 1- I exit the operation whenever the zigzag number appears at the end of an impulse. 2- I exit the operation on impulse 2 or risk...
Exactly!!!!!!!!!!!!!!!

If you zoom out even further, still the same indicator setting of 72. Look at the HL and LH showing the impulse moves on a larger scale. The market is fractal in nature and repeats on all time frames. It is patterns within patterns. Choose your time frame, risk and patience level.



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Date period chosen at random, but could not zoom out enough to show it all.
  • #1,396
  • Oct 17, 2023 6:05pm Oct 17, 2023 6:05pm
hey guys amazing threadd have been on vacation but read everypage while. i was there lol. im back and ready to follow CP as per usual. my only question is how ddo i get the vertical lines ro show up like Ronin has in the previous post?


Stay Catching Pips!
  • #1,397
  • Oct 17, 2023 6:09pm Oct 17, 2023 6:09pm
Quoting Kmoney99
hey guys amazing threadd have been on vacation but read everypage while. i was there lol. im back and ready to follow CP as per usual. my only question is how ddo i get the vertical lines ro show up like Ronin has in the previous post? Stay Catching Pips!
Look under the paperclip download the SR Directions indicator AND the SR Helper file. Place both files in indicator folder. Add SR Direction Indicator to chart.
  • #1,398
  • Oct 17, 2023 9:18pm Oct 17, 2023 9:18pm
I am not sure whether to enter at the first wave of the reversal, or should I postpone the first wave of the reversal and enter at the second and subsequent waves, so I am unable to proceed with the verification. The Impulse story is also difficult for me, but at least it's easy to understand how to exit by displaying the Zigzag Number, so I'm thinking of proceeding with that method for now. Anyway, I haven't yet perfected it in a way that has a clear positive effect, so I want to get better somehow.
  • #1,399
  • Oct 17, 2023 9:44pm Oct 17, 2023 9:44pm
Quoting Ronin-
{quote} Look under the paperclip download the SR Directions indicator AND the SR Helper file. Place both files in indicator folder. Add SR Direction Indicator to chart.
awesome thank you i got it! do you use specific settings? or is default fine?
  • #1,400
  • Oct 17, 2023 10:53pm Oct 17, 2023 10:53pm
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