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PowerTrading/The River

  • #201
  • Nov 7, 2007 12:52pm Nov 7, 2007 12:52pm
Same account for September


September Overview

481 - 59 = 422 Positive pips for the month
Averages: 105.5 per week
23 out of 25 Positive trades
92% Success Rate

Zone Breakout Method
  • #202
  • Nov 7, 2007 1:07pm Nov 7, 2007 1:07pm
Crongratulations for your REALLY GREAT JOB.
Personally I think that better that a Trader is ALWAYS Better found a Strategy that work, and you made it. Congratulations again.
Back to the Market... since last night after the meeting and the Euro jumpping to the new record (and all pairs doing the same) we can wait for a retracement, just how you said... maybe for a litlle pips, but it's important to take the idea, try to see "The Zone" where the consolidation is forming and wait for a retracement. Maybe can help put in the chart the fib retc. ussing the last Zig Zag to see some targets.

Thank PT
  • #203
  • Nov 7, 2007 1:11pm Nov 7, 2007 1:11pm
Quoting Bull
Crongratulations for your REALLY GREAT JOB.
Personally I think that better that a Trader is ALWAYS Better found a Strategy that work, and you made it. Congratulations again.
Back to the Market... since last night after the meeting and the Euro jumpping to the new record (and all pairs doing the same) we can wait for a retracement, just how you said... maybe for a litlle pips, but it's important to take the idea, try to see "The Zone" where the consolidation is forming and wait for a retracement. Maybe can help put in the chart the fib retc. ussing the last Zig Zag to see some targets.

Thank PT
Thank you and you are correct. I want to edit the first page to make changes to this method that I feel are important but I am trying to change the thread name and I need to see if they will let me do it.
PT
Zone Breakout Method
  • #204
  • Nov 7, 2007 2:54pm Nov 7, 2007 2:54pm
Finding myself at a critical position here. We are bouncing off the 38.2 fib from the retracement of todays move. It is acting as good resistance at the moment but if we break I could give back a lot of pips. Up 57 at the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver27.gif Size: 21 KB
Zone Breakout Method
  • #205
  • Edited 3:32pm Nov 7, 2007 3:21pm | Edited 3:32pm
It broke back through the 38.2 fib and I took it out with 41 pips. I have now extended the zone to the 38.2 fib and if we break back down, I will enter another short or look for another reversal on the high. I will not place another trade until much later. It is very important to note how I changed the zone from the earlier post and why. The range is now between the high of the day and that 38.2 fib. You must be willing to adjust your zone to identify actual support and resistance. Notice we use the fibs to help and the zone will normally be between two or three fib numbers depending on the range of the day.
PT
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver28.gif Size: 21 KB
Zone Breakout Method
  • #206
  • Nov 7, 2007 3:33pm Nov 7, 2007 3:33pm
I will be editing the first page in the next few days to better show how the PowerTrading Method works and we will still use elements of the River. Believe me when I tell you this refined method is much better, just look at our September and October results.

PT
Zone Breakout Method
  • #207
  • Nov 8, 2007 5:07am Nov 8, 2007 5:07am
Yester I have been in contact with Igor who made the NonLag Zig Zag as by request he made some changes and add a Fibo retracement directly with the las Zig Zag. Remember that the original setting it's: Price = 0; Length = 100; PctFilter = 2.0.

PowerTrend, I'm thing that it's a very good idea set again the first page with the new rules, If you need any assistant for something don't hesitate in let me know, I want to cooperate with you and anybody in this Thread.

Bull
Attached File(s)
File Type: mq4 NonLagZigZag_v3.1.mq4   11 KB | 570 downloads
  • #208
  • Nov 8, 2007 6:33am Nov 8, 2007 6:33am
i can't wait to read your news on the river i really like this system. 15min and 4h too.
  • #209
  • Nov 8, 2007 8:00am Nov 8, 2007 8:00am
From what I have seen, this is the most productive stratagy i have tried in a long time. The results are great. Thanks PT
  • #210
  • Nov 8, 2007 10:07am Nov 8, 2007 10:07am
Hello,

I have been backtesting this system and I really like it. I have a couple questions though.

When a candle closes outside the river it should have no part of it touching the river, correct? Not just open and close but the high and low shouldn't touch either?

Also, when would you take a trade in the same direction as the previous one you have taken? Obviously you wouldn't trade in the same direction if a candle closed outside the river in the opposite direction. But what if it touched the the opposite side of the river and reversed again to form a candle outside the river in the same direction. Would you take that trade? What would be the criteria for that? Touching the inside bank? The middle? The outside bank?
  • #211
  • Nov 8, 2007 1:10pm Nov 8, 2007 1:10pm
Quoting marolam
Hello,

I have been backtesting this system and I really like it. I have a couple questions though.

When a candle closes outside the river it should have no part of it touching the river, correct? Not just open and close but the high and low shouldn't touch either?

Also, when would you take a trade in the same direction as the previous one you have taken? Obviously you wouldn't trade in the same direction if a candle closed outside the river in the opposite direction. But what if it touched the the opposite side of the river and reversed again to form a candle outside the river in the same direction. Would you take that trade? What would be the criteria for that? Touching the inside bank? The middle? The outside bank?
Good questions here. First, under the original rules of entry you would enter when the first candle is formed outside the River without touching. Please understand it is important not to enter based solely on this move. It can be affected by time of day, news releases, etc. You must be aware of everything around you. I am going to post some new rules this weekend and it will really help with the process. PT
Zone Breakout Method
  • #212
  • Nov 8, 2007 1:15pm Nov 8, 2007 1:15pm
Quoting Bull
Yester I have been in contact with Igor who made the NonLag Zig Zag as by request he made some changes and add a Fibo retracement directly with the las Zig Zag. Remember that the original setting it's: Price = 0; Length = 100; PctFilter = 2.0.

PowerTrend, I'm thing that it's a very good idea set again the first page with the new rules, If you need any assistant for something don't hesitate in let me know, I want to cooperate with you and anybody in this Thread.

Bull
I am not too big on indicators but I am going to try this. I started out using zigzag and want to look at it again. PT
Zone Breakout Method
  • #213
  • Nov 8, 2007 3:22pm Nov 8, 2007 3:22pm
After we hit the top, I decided to take a quick reversal. Here it turned back on me and I picked up 20 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver30.gif Size: 20 KB
Zone Breakout Method
  • #214
  • Nov 8, 2007 3:36pm Nov 8, 2007 3:36pm
I have started updating the first page. Please be patient, it will be completed this weekend. New to the PowerTrading River will be "Zone Breakout". This is a method I developed by using a box strategy, not based on some particular time frame but on Support and Resistance and Fibonacci. This is very effective!

There will be some new charts and Templates too.

PT
Zone Breakout Method
  • #215
  • Nov 9, 2007 3:50am Nov 9, 2007 3:50am
I had a short in place from close to the high and it just hit Take Profit for 69 pips. Of course it continued to run after that but 69 in the bank is a good nights work. Even if you had waited for the zone breakout you would have made over 70 pips so far if you let it run.

PT
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver30.gif Size: 22 KB
Zone Breakout Method
  • #216
  • Nov 9, 2007 3:57am Nov 9, 2007 3:57am
This is current. You can see how far this thing ran. It goes to show you can never get them all.

PT
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver31.gif Size: 19 KB
Zone Breakout Method
  • #217
  • Nov 9, 2007 4:03am Nov 9, 2007 4:03am
PT, it's great to see that you began updating the first page with the new rules. I'll back test the system in EURUSD and USDCAD for start and I'll show what going on.

Again, let me know if I can cooperate in any other manner.

Bull
  • #218
  • Nov 9, 2007 4:07am Nov 9, 2007 4:07am
Now this is a River Trade the right way. With my Zone Breakout you can avoid false signals. On this trade it was almost a typical River entry but using the breakout of the zone it becomes more powerful. The reason this is a better move now is when we broke the zone we broke support based on where price ranged back into yesterday. If I had played this better I would have continued to move the SL up and I would have taken more pips. You can see how PowerTrading the River is much more effective than the old way.
PT
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver32.gif Size: 20 KB
Zone Breakout Method
  • #219
  • Nov 9, 2007 4:18am Nov 9, 2007 4:18am
Following the New rules, and the idea of "Zone Breakout", that what happend a few minutes ago with Cad
Attached Image (click to enlarge)
Click to Enlarge Name: CAD1109.JPG Size: 94 KB
  • #220
  • Nov 9, 2007 4:27am Nov 9, 2007 4:27am
Quoting Bull
Following the New rules, and the idea of "Zone Breakout", that what happend a few minutes ago with Cad
Great Example, This method works on most pairs and although I am not supporting them here you can see it works. The Zone Breakout is just another way to identify S & R and when it breaks it usually runs. Notice in most cases it will still be close to a normal River trade. I would like to see Fibonacci and some period separators on your chart. I think it will help.

Great Post Bull,

PT
Zone Breakout Method
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