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ZigZag - could this really be profitable? 0.1 pips profit

  • #21
  • Jun 30, 2024 11:19am Jun 30, 2024 11:19am
if this proves to be 100% win then you can use higher lot size
  • #22
  • Jun 30, 2024 11:36am Jun 30, 2024 11:36am
Quoting jamesagnew
if this proves to be 100% win then you can use higher lot size
this will be totally different if you use it in live account due to slippage and spread change.
  • #23
  • Jun 30, 2024 11:41am Jun 30, 2024 11:41am
Quoting david79454
{quote} this will be totally different if you use it in live account due to slippage and spread change.
my broker offers 0 pip spreads ,

on EU only ,


so just trade EU
  • #24
  • Jun 30, 2024 11:46am Jun 30, 2024 11:46am
not sure why the results never showed what pair that was used ?
  • #25
  • Jun 30, 2024 12:04pm Jun 30, 2024 12:04pm
The market is controlled by a computer algorithm that delivers price. As a retail trader, you are trading against this algorithm. When you use leverage (and you are using extreme leverage), the algorithm will soon come to look at your every trade as soon as it is opened. When the algorithm sees your open order and your leverage, it will soon begin a campaign against you, perhaps through slippage, spread change, or simply changing direction for a few pips.
Michael Huddleston does a good job of detailing how this market algorithm works in his Inner Circle Trader videos available on youtube.
My message is to beware when you go to a live account. Back testing this, or developing an EA is wasting time, in my opinion.
  • #26
  • Jun 30, 2024 12:08pm Jun 30, 2024 12:08pm
Quoting Ryder
The market is controlled by a computer algorithm that delivers price. As a retail trader, you are trading against this algorithm. When you use leverage (and you are using extreme leverage), the algorithm will soon come to look at your every trade as soon as it is opened. When the algorithm sees your open order and your leverage, it will soon begin a campaign against you, perhaps through slippage, spread change, or simply changing direction for a few pips. Michael Huddleston does a good job of detailing how this market algorithm works in his Inner...
that my opinion too, it would be too easy to be rich like this. Market is not your friend and institution ans algo is not in your favor, even your broker…
  • #27
  • Jun 30, 2024 12:23pm Jun 30, 2024 12:23pm
ok guys maybe it will not work in live markets
  • #28
  • Jun 30, 2024 12:41pm Jun 30, 2024 12:41pm
Quoting jamesagnew
ok guys maybe it will not work in live markets
it's only their opinion, I and others have been successful scalping the markets...keep pursuing your own style...
  • #29
  • Jun 30, 2024 1:18pm Jun 30, 2024 1:18pm
Quoting Waveskierrob
{quote} it's only their opinion, I and others have been successful scalping the markets...keep pursuing your own style...

As long as your are not using EA and not using SL, maybe this can be profitable yes maybe.
  • #30
  • Jun 30, 2024 1:30pm Jun 30, 2024 1:30pm
Quoting david79454
{quote} As long as your are not using EA and not using SL, maybe this can be profitable yes maybe.
I know of traders using EA scalping and making money, I do agree with you on SL's though..
  • #31
  • Jun 30, 2024 2:18pm Jun 30, 2024 2:18pm
Quoting Ospytrades
turned it in to a ea but my coding is horrid but sort of got it to work.(its not taking longs / finding entrys for longs) and the position size is not yet put in correct i will update later tonight if i have time. {image}
What platform are you using? Post the code, let’s have a look?
  • #32
  • Jun 30, 2024 2:32pm Jun 30, 2024 2:32pm
got a new concept

its basically projection of the previous zigzag swing

so say you have a move down and its 50 pip swing look for retrace back up then a break of the low to sell

exit with 50% of the swing projected - 5 pips

so basically you are looing for a 20 pip exit , 50/2 is 25 -5 is 20

this seems to work very well

again, good luck
  • #33
  • Jun 30, 2024 2:44pm Jun 30, 2024 2:44pm
Quoting jamesagnew
got a new concept its basically projection of the previous zigzag swing so say you have a move down and its 50 pip swing look for retrace back up then a break of the low to sell exit with 50% of the swing projected - 5 pips so basically you are looing for a 20 pip exit , 50/2 is 25 -5 is 20 this seems to work very well again, good luck
Give it a go live, you'll only know by doing it, good luck with the thread...
  • #34
  • Jun 30, 2024 4:35pm Jun 30, 2024 4:35pm
Quoting Ryder
The market is controlled by a computer algorithm that delivers price. As a retail trader, you are trading against this algorithm. When you use leverage (and you are using extreme leverage), the algorithm will soon come to look at your every trade as soon as it is opened. When the algorithm sees your open order and your leverage, it will soon begin a campaign against you, perhaps through slippage, spread change, or simply changing direction for a few pips. Michael Huddleston does a good job of detailing how this market algorithm works in his Inner...
ICan’tTrade and his algo theory… oh I forgot, wasn’t he claiming to be a consultant on the Algo ?
  • #35
  • Jul 1, 2024 8:38am Jul 1, 2024 8:38am
im trying a little forex secret now

using zig zag and projected trendlines

i will share the screenshot below on what to do

its easy to follow and gives good results

1 hour timeframe , just follow the rules ,
Attached Image (click to enlarge)
Click to Enlarge Name: projected area.jpg Size: 240 KB
  • #36
  • Jul 1, 2024 9:03am Jul 1, 2024 9:03am
zig zag goes above , then other way above then below or below then above enter,

cross re cross

this is good
  • #37
  • Jul 2, 2024 1:12pm Jul 2, 2024 1:12pm
HI

I will share with you all my forex secret

basically all you need is zigzag and a trendline projection of 10 candles

connect a trendline to the nearest higher close area, or lower close area s, and move it to 10 candles forwards and connect the trend line f this is the trendline you enter on, the opposite of the xig xag is the connection point

the break of that trendline, stop loss goes at high or low

i will share a screenshot below


this is easy and its profitable

good luck
Attached Image (click to enlarge)
Click to Enlarge Name: zigar xager.jpg Size: 252 KB
  • #38
  • Jul 7, 2024 12:42pm Jul 7, 2024 12:42pm
HI

any update on the EA yet ?

was wondering if you could share here

thanks
  • #39
  • Last Post: Jul 10, 2024 6:10am Jul 10, 2024 6:10am
waiting for EA

can you share thanks
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