That's just my opinion and you have a right to yours.
Daniel
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DislikedI can see already now that this gann stuff is going to be insano and cause me more sleepless nights if that is at all possible lol
if u throw a -6 in as prive projection seems pretty close on 1 hrIgnored
DislikedI'm a little hesitant to start this but.......................
This is just an exercise, I am not here to teach a system. Those that want to participate should benefit. What I'm showing you is 1% of what is. This is just a simple step that I believe will help you look at the market a bit different. If you are still looking at the market like 95% of "traders".....well, you know the stats.
Open a weekly chart and blow it up (not literally). Now open your Fibonacci tools and pull a linear fib from the high and low of any candle. Make sure your fib tool has the extensions set at 138 and 162 like in my example. Now watch what happens when the either the high or low is breached. More often than not when the low/high is breached the extensions get hit to some degree.(for you to figure out). When they don't, what happens?
I'm sure there are some that are going to add up the pips they could've made, but don't waste your time trying to make a system just yet. You can walk your fib from candle to candle for months and it should only take a few minutes before you see what I'm talking about. It doesn't need to be perfect.
Now typically, your stop would be at the high or low levels of the candle. For this exercise assume this. So, out of 40 candles, how many hit an extension before it hit it's stop?
Now, for those that want to point out the losers (you all know who you are) You don't have enough knowledge yet to point it out so please refrain.
Another tid bit, In forex, we need to compensate for bad data, because of all the different platforms/brokers the price is rarely accurate to the pip. Other markets that have more accurate feeds read better.
There is a method to my madness.Ignored
DislikedPPP - I respect your work and views, but I also look at the statistics that I see with the IFib concept. Last week I walked 20 fibs on the 5m chart.
19 of those gave profitable entries on the exit from the DZ, with a potential profit of more than 1500 pips. I think that's quite acceptable.
Respectfully,
Nervous Nellie - aka IssyIgnored
DislikedHey Issy - my post came accross the wrong way and I am truly sorry. My mind has been tired from the funeral and traveling, etc. and I was in no way poking fun at the DZ fib way. Actually you and I are saying the same thing. What I meant was, I do not believe in placing the 0/100 on the DZ, neither do you. You place it on the last swing and I agree. By nervous nellies I am referring to the way price action slops around the DZ after the main move, the typical whipsaw action where people jump in and out with lack of direction. Thanks for your wonderful contributions.Ignored
DislikedAbsolutly NP PPP - I appreciate that its difficult to return and get focused after your sad loss and all that involves. I just wanted to clarify that we WERE on the same wave length......as for Nervous Nellies - ROFL
Take care
IssyIgnored
Disliked(1)Gann+14 from the bottom only. It gives me initial direction and later gives a BO area to watch PA interact with the line and potentially fall. In other words if we have hit a fib T and have a gann14 nearby we are about to break back down. I'm sorry if I'm not making this clear enough.
This morning I took the 207.40 long based on the H1 Gann 14 and monitoring on the M15. This was an early entry to my fib. There are 2 clear fib moves after that and we are currently in the 3rd to see if it supports in the 208.39-208.43 area.
(2) Fibs - S&R(includes TL's) - PAIgnored
Disliked. . . Skunny said it's possible to trade 100% accurate. I agree with him. I take every missed trade of mine and re-trade and have found my mistakes every single time. I have never traded 100%, but it is possible. . .Ignored
Disliked. . . There are many trading programs that offer greater than 75% W/L ratio. . .Ignored
DislikedI'm using the Gann Line in Mt4 then setting the scale according to some studying I am doing with the gann square of nine and the date rotational bezel on the outside. Also known as the master time and price calculator.
I'm looking for concrete stats at this point. Meaning, I can use certain scale numbers now by looking at trends on the charts, but they may not work in other trends, or time cycles. Once I figure out the square of nine with time bezel and can calculate the new trend scale BEFORE it happens I'll be onto something. But from what I see once you have the trend and retracement scales calculated - then you can use those for a couple of months at a time.Ignored
DislikedA question for the vHands users -
Is there any way to prevent it from creating such huge log files. I run it on a 1 hr chart for a historical period of a few days and the program creates a log file that is over 3 GB! This is becoming a real pain in the you-know-what!
ThanksIgnored
DislikedA question for the vHands users -
Is there any way to prevent it from creating such huge log files. I run it on a 1 hr chart for a historical period of a few days and the program creates a log file that is over 3 GB! This is becoming a real pain in the you-know-what!
ThanksIgnored
DislikedThanks,
I had previously found the location of the files and deleted them, but I was hoping to eliminate them altogether.
Mom - I went to the post you referred to and it makes sense. But I can't figure out what I'm doing that would be generating the errors.
I guess I'll just deal with it for now and keep manually deleting the files.Ignored
DislikedThanks,
I had previously found the location of the files and deleted them, but I was hoping to eliminate them altogether.
Mom - I went to the post you referred to and it makes sense. But I can't figure out what I'm doing that would be generating the errors.
I guess I'll just deal with it for now and keep manually deleting the files.Ignored
DislikedPiPr Pro,
I don't really want to start a debate over peripheral issues, but it gets on my nerves a bit when people start throwing around numbers without some qualification.
I believe him too, but to say "it is possible" so definitively is a bit bold. I'm using this as inspiration to study and learn, but I certainly haven't drunk the coolaid yet!
Can you point me to one of these!!! The inference here is that it's easy to get such a high W/L ratio, but in my experience testing dozens of so called profitable "systems", I haven't seen even one that gets close to this. The ones that I have seen have profit ratios below 1:3 (W:L), making them break even, at best.
The traders that I have spoken with who make a living trading all have W/L percentages hovering around 50%, but the consistent theme is that their profit ratios (W:L) are 3:1. They win big and take small losses.
Now, time to quit griping and actually add something to this thread. Based upon what I've learned so far from this thread, I have devised a very rudimentary 100% mechanical system that has a 72% W/L ratio (backtested with 2 pairs over one year for each) with an average profit ratio (W:L) of 3:4.
This may not seem like much compared to our goal of 100%, but I've run the statistics on my back testing results, including some Monte Carlo simulations, and I can assure you that you can double your money many times over during a single year with relatively little risk. Personally, this is all I need. Right now, my efforts to refine the system toward 100% are purely out of my personal desire to achieve perfection. I can retire on my current system - assuming, of course, that the characteristics of the markets don't change substantially (which may be a poor assumption).
My point is, I guess, that you don't need to be anywhere near 100% to make a living at this, and even a 60% system is adequate, provided the losers aren't too much larger than the winners. I believe that your statement about the 75% systems is misleading. It's just not that easy to make money at this. If it is, perhaps you might share some of your concepts.
BTW, I will share some of the details of my system after I forward test it for a couple of months.Ignored
DislikedPiPr Pro,
I don't really want to start a debate over peripheral issues, but it gets on my nerves a bit when people start throwing around numbers without some qualification.
I believe him too, but to say "it is possible" so definitively is a bit bold. I'm using this as inspiration to study and learn, but I certainly haven't drunk the coolaid yet!
Can you point me to one of these!!! The inference here is that it's easy to get such a high W/L ratio, but in my experience testing dozens of so called profitable "systems", I haven't seen even one that gets close to this. The ones that I have seen have profit ratios below 1:3 (W:L), making them break even, at best.
The traders that I have spoken with who make a living trading all have W/L percentages hovering around 50%, but the consistent theme is that their profit ratios (W:L) are 3:1. They win big and take small losses.
Now, time to quit griping and actually add something to this thread. Based upon what I've learned so far from this thread, I have devised a very rudimentary 100% mechanical system that has a 72% W/L ratio (backtested with 2 pairs over one year for each) with an average profit ratio (W:L) of 3:4.
This may not seem like much compared to our goal of 100%, but I've run the statistics on my back testing results, including some Monte Carlo simulations, and I can assure you that you can double your money many times over during a single year with relatively little risk. Personally, this is all I need. Right now, my efforts to refine the system toward 100% are purely out of my personal desire to achieve perfection. I can retire on my current system - assuming, of course, that the characteristics of the markets don't change substantially (which may be a poor assumption).
My point is, I guess, that you don't need to be anywhere near 100% to make a living at this, and even a 60% system is adequate, provided the losers aren't too much larger than the winners. I believe that your statement about the 75% systems is misleading. It's just not that easy to make money at this. If it is, perhaps you might share some of your concepts.
BTW, I will share some of the details of my system after I forward test it for a couple of months.Ignored