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"The Pip Nailer". Any time frame, any pair

  • #41
  • Jan 9, 2008 9:38pm Jan 9, 2008 9:38pm
Quoting M.A.C.Doug
personaly, I think these, high probability, but rare set ups are the best. You are forced to practice patience, you will not overtrade but only take A+ trades and you will trade with a high confidence level. 1 winning trade per month beats 100 trades that give a negative result. They are easy to spot as its just a matter of checking the other indicators every time you notice the s.a.r change. I would have thought it possible to change the w/l ratio upto 1.5/1 or even 2/1 given the strength of the moves it seems to signal.
Very good work forexmoments
Exactly my thinking, M.A.C.Doug, I love these sorts of set-ups.

Patience is a wonderful thing to have (especially for people like me who tend to want to "overtrade"). Personally I have found that I usually make more money on the months where I take fewer trades.

I also think that the RR ratio may be inched up, but without testing this I am a bit reticent to change the profit setting on these trades.

Has anyone figured out how to modify the EA so that we can backtest this system? It looks like we just need the exits portion of this as Ronald Raygun has done the entries.......
  • #42
  • Jan 9, 2008 10:02pm Jan 9, 2008 10:02pm
The only exits I put in was the opposite signal.


I can program in the AO AC change exit, but that would require a completely different version. I don't know how to combine them yet.
  • #43
  • Jan 10, 2008 12:01am Jan 10, 2008 12:01am
Thanks Ash for a simple, straight-forward system!

Can anyone help? Trying to load indicator/ alert from Thunderwolf. Compiled it in editor, no errors, but doesn't show up anywhere in navigator.

Thanks, Lee
  • #44
  • Jan 10, 2008 2:24am Jan 10, 2008 2:24am
Quoting FXmoney
Thanks Ash for a simple, straight-forward system!

Can anyone help? Trying to load indicator/ alert from Thunderwolf. Compiled it in editor, no errors, but doesn't show up anywhere in navigator.

Thanks, Lee
Hi Lee,
Did you load it in experts/indicators, close your MT4 platform then restart it? It should be there under custom indicators. Hope that works for you!
  • #45
  • Jan 10, 2008 5:03am Jan 10, 2008 5:03am
This one is tricky because the PSAR has flip flopped over the past two hours, but it is technically an entry signal.


Long @ 1.4683
Stop @ 1.4655 (stop lower than trigger bar b/c market is ranging)
Profit @ 1.4714 (trying to go 1.1 risk to reward)


This one feels weird, but well worth it in my book, as it is a risk of 28 pips for 31 pips of profit. We shall see...
Attached Image (click to enlarge)
Click to Enlarge Name: Nailed Jan 10 2008 EURUSD 1hr entry.jpg Size: 215 KB
  • #46
  • Jan 10, 2008 5:09am Jan 10, 2008 5:09am
Quoting thunderwolf
Hello Ash,

Thank you for introducing us to your system. Thought I'd post this Parabolic Sar Color Alert indicator for everyone to try out to save time from constantly monitoring the charts. Just set the values the same as default value on MT4
.02 & .20 You can set your Par Sar colors to match the AC and AO indicators on your chart so when there's a change all colors will have to change simultaneously to be valid. The Par Sar will send out a sound alert and pop up window when Sar changes from up to down. This way you can have multiple pairs set up on your chart with the Par Sar Alert enabled and when you hear an alert sound just check to see if it's valid.

Hope this will be of some use for every one.....T-Wolf
Thunderwolf,

Do you happen to have the same alert for email notification only?

Thanks!
  • #47
  • Jan 10, 2008 7:12am Jan 10, 2008 7:12am
Quoting FXHOUND
Thunderwolf,

Do you happen to have the same alert for email notification only?

Thanks!
Hi FXHOUND,
Sorry, this is the only alert I have for this indicator.Maybe some one could code an email alert function into it.....T-Wolf
  • #48
  • Jan 10, 2008 8:16am Jan 10, 2008 8:16am
Quoting pip_bagger
This one is tricky because the PSAR has flip flopped over the past two hours, but it is technically an entry signal.


Long @ 1.4683
Stop @ 1.4655 (stop lower than trigger bar b/c market is ranging)
Profit @ 1.4714 (trying to go 1.1 risk to reward)


This one feels weird, but well worth it in my book, as it is a risk of 28 pips for 31 pips of profit. We shall see...
the market was waiting on the ECB interest rate announcement which is why the s.a.r flip flopped. I think that invalidates the signal. Its not the best time to trade unless you are betting on the announcment itself.
BTC Return This Year: na
  • #49
  • Jan 10, 2008 10:32am Jan 10, 2008 10:32am
Quoting M.A.C.Doug
the market was waiting on the ECB interest rate announcement which is why the s.a.r flip flopped. I think that invalidates the signal. Its not the best time to trade unless you are betting on the announcment itself.
yes it's dangerous
lower market at 1.4640 3 hours after
and now 1.4735 !
  • #50
  • Jan 10, 2008 10:54am Jan 10, 2008 10:54am
  •  Trader#0000
  • | Status: Unregistered Trader
Hi, thanks much for your reply. So, basically, you are suggesting we look at multiple pairs in multiple tf's. Is that correct?

We would probably be looking at about 60 charts, say, we are looking at 20 pairs in 3 different tf's. Just trying to understand.

Thanks again for this great thread.

Quoting forexmoments
Hi Sundarvenu,

You are correct. This is exactly why this system is so powerful. I agree that the signals are very rare. You could essentially go down to lower timeframes, but the spread per move is a bit high, (the lower you go).

This is why I said this system works on ANY pair, ANY timeframe. So if you just concentrate on 1 timeframe and 1 pair, you are not going to get many signals.
  • #51
  • Jan 10, 2008 10:58am Jan 10, 2008 10:58am
Hi,

Your system is great, I will put it to test right away on Demo. Thanks 4 your contribution

Quoting forexmoments
Dear all,

I've been a long time reader at the Factory, and I love this wonderful forum. It has helped me a lot through the past few years, so I sincerely hope this system will benefit other traders.

Two files attached - the actual PDF manual, and the template for MT4 users.

Regards,

Ash
  • #52
  • Jan 10, 2008 1:19pm Jan 10, 2008 1:19pm
Quoting pip_bagger
This one is tricky because the PSAR has flip flopped over the past two hours, but it is technically an entry signal.


Long @ 1.4683
Stop @ 1.4655 (stop lower than trigger bar b/c market is ranging)
Profit @ 1.4714 (trying to go 1.1 risk to reward)


This one feels weird, but well worth it in my book, as it is a risk of 28 pips for 31 pips of profit. We shall see...
Stop hit.

I usually don't talk myself out of signals even if there is an impending rate announcement. Remember, this system made $ on the NFP last week!

There was another entry signal after I was stopped out, and that one would definitely be up now, but may not have hit TP point....bummer I was sleeping.

The way I look at it, when I go back and backtest (usually through Forextester, one candle at a time) I don't check each candle to see if a NFP or rate announcement is near, I just take the signal.

I completely understand why people don't do that, but it's not my style.

Can't wait for the next signal...
Attached Image (click to enlarge)
Click to Enlarge Name: Nailed Jan 10 2008 EURUSD 1hr exit.jpg Size: 188 KB
  • #53
  • Edited 2:17pm Jan 10, 2008 1:56pm | Edited 2:17pm
Quoting pip_bagger
Stop hit.

I usually don't talk myself out of signals even if there is an impending rate announcement. Remember, this system made $ on the NFP last week!

There was another entry signal after I was stopped out, and that one would definitely be up now, but may not have hit TP point....bummer I was sleeping.

The way I look at it, when I go back and backtest (usually through Forextester, one candle at a time) I don't check each candle to see if a NFP or rate announcement is near, I just take the signal.

I completely understand why people don't do that, but it's not my style.

Can't wait for the next signal...
Pip_bagger - what broker are you using?

I am using Interbank FX for my signals, and there's no way I saw that short signal on my platform.

In fact, the only signal I got today on the Eur/Usd today was a 72 pip winner!

I don't understand why you got that short, because these are hourly charts, I can only assume it's a broker issue.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd_nailed.gif Size: 49 KB
  • #54
  • Jan 10, 2008 5:09pm Jan 10, 2008 5:09pm
Quoting sundarvenu
Hi, thanks much for your reply. So, basically, you are suggesting we look at multiple pairs in multiple tf's. Is that correct?

We would probably be looking at about 60 charts, say, we are looking at 20 pairs in 3 different tf's. Just trying to understand.

Thanks again for this great thread.
Hi, I'm not saying you have to look at every pair and every timeframe, but choose a select few.

For example, the majors are a given, as are the other JPY pairs. Try to look at H1 and above. If you feel adventurous you can go lower!
  • #55
  • Jan 10, 2008 6:23pm Jan 10, 2008 6:23pm
Quoting forexmoments
Pip_bagger - what broker are you using?

I am using Interbank FX for my signals, and there's no way I saw that short signal on my platform.

In fact, the only signal I got today on the Eur/Usd today was a 72 pip winner!

I don't understand why you got that short, because these are hourly charts, I can only assume it's a broker issue.
I am using the standard demo from Metaquotes for the signals. The default data feed for me (Australia) is ODL securities, not sure if that varies by location, I suspect that it does.

I think that the long that you took was the second long signal that I saw. I mentioned that it was a funky signal on my chart. I see on your chart that you had a red bar on the AC, whereas my data gave me a green bar on the AC (albeit a very small green bar). I would have re-entered had I been awake, but I was fast asleep.

Ash, I am not complaining at all about this little loss, as I see it as part of the game. It looks to me that the difference between a long signal (that resulted in a loss) and the “no signal” on your chart is just our data feed.

I should mention that a few hours ago I saw a signal on the EURCHF (15 min chart) that most people would have made money on, and last night there were several on Gold (I believe the 15 min and the 1 hour). My broker offers Gold. There are enough pairs and timeframes to keep you busy on currencies alone, even with this strategy.

I can only imagine that this system will work in most liquid markets, would you agree?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: signals.JPG Size: 106 KB
Click to Enlarge Name: ODL Securities.JPG Size: 28 KB
  • #56
  • Jan 10, 2008 7:11pm Jan 10, 2008 7:11pm
hey pip bagger...... you mentioned.... Has anyone figured out how to modify the EA so that we can backtest this system....

will code it up tonight, unless someone beats me to it....h
to trade and code, keep both simple... no call to impress....h
  • #57
  • Jan 10, 2008 9:12pm Jan 10, 2008 9:12pm
Quoting hayseed
hey pip bagger...... you mentioned.... Has anyone figured out how to modify the EA so that we can backtest this system....

will code it up tonight, unless someone beats me to it....h
I think that more than a few people would be glad to hear that, thanks!
  • #58
  • Jan 10, 2008 10:38pm Jan 10, 2008 10:38pm
ok here goes a quick shot at the ea...

also coded an indicator that will paint the bar of each signal.... blue for buy, red for sell.... after running a back test you can apply the indicator to a chart to double check it's accuracy.....

keep in mind the painted bar is the actual signal bar and your entry would be the following bar's open.....

the addition of a trend filter almost always helps..... holler back if any needed changes come to mind or errors are found.....h
Attached File(s)
File Type: mq4 painted pip nailer.mq4   5 KB | 2,147 downloads
File Type: mq4 pip nailer.mq4   12 KB | 1,892 downloads
to trade and code, keep both simple... no call to impress....h
  • #59
  • Jan 10, 2008 11:59pm Jan 10, 2008 11:59pm
Nice work Hayseed! I coded up a version last night as well and our approaches are very similar. I'll post mine later tonight when I get off work. Anyway, and this is not meant to be any criticism, but your code does things not called out for by forexmoments rules. Again, I'm not saying it's wrong, I'm just saying that he doesn't say anything about using trailing stops or using a decrease factor in the lot calculations. Also, he says stops should be at the high/low of the trigger candle with an equal profit target. Determining lot size is also open to interpretation, and fwiw, I'd go with something similar to what you have rather than follow the rules.

Once again, I think you have done a wonderful job with your EA and the things I pointed out are meant only to open the door to discussion.

Best,
Flying Fish
  • #60
  • Jan 11, 2008 12:45am Jan 11, 2008 12:45am
hey flying fish.... the trailing stop can be set to 0 which renders it unused and mm can be set to false which negates money management impact completely..... included those for functions just in case someone might ask for them later....

i have a habit of scaning quickly thru posts and had clean overlooked the true pip nailer stop and profit settings, thanks for pointing them out......

lookin forward to your ea..... and again if anyone has suggestions for improvements just holler..... we all benefit..... h
to trade and code, keep both simple... no call to impress....h
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