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

  • #661
  • Apr 22, 2008 7:58am Apr 22, 2008 7:58am
We don't take the trade if the AO, AC or SAR change on the entry candle (after the signal candle) right?
  • #662
  • Apr 22, 2008 12:16pm Apr 22, 2008 12:16pm
Quoting j5000
We don't take the trade if the AO, AC or SAR change on the entry candle (after the signal candle) right?
Read Goss's post. It states his statistical analysis. So there are alot of ways to slice this pie. Auto trading using the dashboard. Using Mp MTF on different pairs/TF's. It is ultimately up to the individual to try and try and try and evaluate what works best. Here is what I concluded.

Auto trading :
The way the EA is writtian will not win more than it loses. Maybe someone could post thier setttings and results and convince me otherwise.(Pairs and TF's)
There are alot of false positives on the dashboard and the lower M5 and M15 TF's. ALWAYS CONFIRM ALL THREE TRIGGERS
If you auto trade it get's you in to late. The Pips have come and gone.. you will get stopped out 7 of 10.

If you use alerts and manual trade:
Verify the nailed candle and get in right away(ASAP when the 3 Indies change). Alot of charts on selected pairs....up and watching.
Use M30 and above.Use S/R and price action to determine exits or some objective means which consistently works for you)
You will win consistently.

As far as set and forget. I would Forget.
Hoping someone will prove me wrong that the EA could allow me to leave on auto pilot and watch my account grow. Any thoughts appreciated.
  • #663
  • Apr 22, 2008 9:11pm Apr 22, 2008 9:11pm
Quoting sonicdeejay
wondering what is it??

post the graph of it??


sonic
arr..
u mean this??

http://www.forexfactory.com/showpost...&postcount=286
  • #664
  • Apr 23, 2008 1:41am Apr 23, 2008 1:41am
Quoting Pipsnagger
Use M30 and above.Use S/R and price action to determine exits or some objective means which consistently works for you)
You will win consistently.
Well put my friend.
  • #665
  • Apr 23, 2008 9:18am Apr 23, 2008 9:18am
Quoting kimmy
hello all

been trying out the dashboard today version 1.5.........can anyone tell me why the pop up messages do not always coincide with the dashboard?
also are the signals intended to be acted upon immediately at the price that pops up or is it to wait for the next candle in that timeframe?

cheers
kim
i keep seeing people get false positives on 1.5 , is there a signal problem in 1.5? I dont experience this in 1.4
  • #666
  • Apr 23, 2008 10:31am Apr 23, 2008 10:31am
some usd/jpy 5m
Attached Image (click to enlarge)
Click to Enlarge Name: tim.gif Size: 14 KB
  • #667
  • Apr 23, 2008 10:50am Apr 23, 2008 10:50am
Quoting RaverStyleTim2
i keep seeing people get false positives on 1.5 , is there a signal problem in 1.5? I dont experience this in 1.4

thanks raverstyle maybe i will load up that version and see
when are you supposed to actually take the trade ?
cheers
kim
  • #668
  • Apr 23, 2008 11:13am Apr 23, 2008 11:13am
if you use 1.4 you take the trade when the alert pops up.
the alert pops up cause the candle that has met all 3 criteria for a nailed bar has closed and is now time to open a position.

what you CAN do, is under the indicator settings change 'shift signals' so that you are alerted with the PSAR changes giving you(normally) a few minutes of time to check your chart etc then you create your position on the close of that candle.
  • #669
  • Apr 23, 2008 1:37pm Apr 23, 2008 1:37pm
eur/gbp
Attached Image (click to enlarge)
Click to Enlarge Name: tim.gif Size: 15 KB
  • #670
  • Apr 23, 2008 4:59pm Apr 23, 2008 4:59pm
Quoting RaverStyleTim2
if you use 1.4 you take the trade when the alert pops up.
the alert pops up cause the candle that has met all 3 criteria for a nailed bar has closed and is now time to open a position.

what you CAN do, is under the indicator settings change 'shift signals' so that you are alerted with the PSAR changes giving you(normally) a few minutes of time to check your chart etc then you create your position on the close of that candle.
what value RST2? 0?
  • #671
  • Apr 23, 2008 5:17pm Apr 23, 2008 5:17pm
default is 1 early alert is 0
  • #672
  • Apr 23, 2008 5:21pm Apr 23, 2008 5:21pm
Quoting RaverStyleTim2
default is 1 early alert is 0

Thanks I think it would help noticing some lagging also dropped the parabolic sar color alert after looking at your chart but it seems I had more hits without it but I could be way off but will go back to 1.4 manual for awhile where I had the most consistency. I can only trade the asian session due to work so it sometimes is like paint drying as well as the alerts dry up as well
  • #673
  • Apr 23, 2008 8:12pm Apr 23, 2008 8:12pm
Quoting kimmy
thanks raverstyle maybe i will load up that version and see
when are you supposed to actually take the trade ?
cheers
kim

kimmy,,

r u trading using ozfx,imram or pip nail??

cool sista!!!


sonic
  • #674
  • Apr 24, 2008 2:56am Apr 24, 2008 2:56am
Quoting forexmoments
Ok, just to clarify.

The amount of pips that you want to Take Profit at, is the same number of pips as the difference between the High and the Close of the "Nailed Candle". So, your Stop Loss would be at the very top of the Nailed Candle.

Hence, if your SL is 12 pips, your TP would also be 12 pips.

Is this any clearer?

Don't worry about asking as many questions until you feel satisfied. Maybe some others can help explain as well, because sometimes I'm not the most detailed in my explanations!

Hi,

Have a question need to double check.

High and the Close of the "Nailed Candle". = Going Short?
Low and the Close of the "Nailed Candle". = Going Long?


Thanks
Patience, let the market come to you!
  • #675
  • Apr 24, 2008 9:01am Apr 24, 2008 9:01am
Quoting dashisiong
Hi,

Have a question need to double check.

High and the Close of the "Nailed Candle". = Going Short?
Low and the Close of the "Nailed Candle". = Going Long?


Thanks
if the psar changes from bottom to top AND the AO and AC turn red go SHORT

if the Psar changes from top to bottom AND the AO and AC turn green go
LONG

ALL AT THE SAME TIME ON THE SAME CANDLE
BOTH AC AND AO changing colors at the same time from what they BOTH were(Yes they both have to have been the same color prior to the nailed candle AO and AC changing)

You can use the standard sl 30 tp 30 or the difference between the top and bottom of the nailed candle to figure sl/tp or price action or any other way you want. Getting in is easy... it is managing the trade once you are in..... thats the difference between winning and losing. Some things to think about that require trader discretion:
What if the nailed candle is or has:

  1. a long wick showing a reversal
  2. a doji indicating a possible reversal
  3. already ran up or down more than the current trading range...has nowhere to go
  4. up against major S/R... it could go alot farther if it breaks(Take more Pips)http://www.forexfactory.com/images/icons/icon7.gif or stops and reverses abruptly opposite your positionhttp://www.forexfactory.com/images/icons/icon8.gif

Now auto trading with set rules and no trader dicretion is another matter. There are many examples on the thread of nailed candle charts. Hope this helps. Happy Pipnailing - you can consistently make Pips with this

  • #676
  • Apr 24, 2008 11:34am Apr 24, 2008 11:34am
Quoting Pipsnagger
if the psar changes from bottom to top AND the AO and AC turn red go SHORT

if the Psar changes from top to bottom AND the AO and AC turn green go
LONG

ALL AT THE SAME TIME ON THE SAME CANDLE
BOTH AC AND AO changing colors at the same time from what they BOTH were(Yes they both have to have been the same color prior to the nailed candle AO and AC changing)

You can use the standard sl 30 tp 30 or the difference between the top and bottom of the nailed candle to figure sl/tp or price action or any other way you want. Getting in is easy... it is managing the trade once you are in..... thats the difference between winning and losing. Some things to think about that require trader discretion:
What if the nailed candle is or has:

  1. a long wick showing a reversal
  2. a doji indicating a possible reversal
  3. already ran up or down more than the current trading range...has nowhere to go
  4. up against major S/R... it could go alot farther if it breaks(Take more Pips)http://www.forexfactory.com/images/icons/icon7.gif or stops and reverses abruptly opposite your positionhttp://www.forexfactory.com/images/icons/icon8.gif

Now auto trading with set rules and no trader dicretion is another matter. There are many examples on the thread of nailed candle charts. Hope this helps. Happy Pipnailing - you can consistently make Pips with this


Thanks Pipsnagger for the explaination.
I believe what u say is correct, going into the trade is easy, but getting out is hard.
Anyway, what happened to this thread, it look like it is getting quiet nowadays!

Thanks
Patience, let the market come to you!
  • #677
  • Apr 24, 2008 6:20pm Apr 24, 2008 6:20pm
Quoting dashisiong
Thanks Pipsnagger for the explaination.
I believe what u say is correct, going into the trade is easy, but getting out is hard.
Anyway, what happened to this thread, it look like it is getting quiet nowadays!

Thanks
I don't know about the thread activity.... hope the explanation helps...I like this method because as FM states... any pair ...any time... it is an easy entry. But like any method you have to work hard for your Pips.
  • #678
  • Apr 24, 2008 11:39pm Apr 24, 2008 11:39pm
Quoting sonicdeejay
kimmy,,

r u trading using ozfx,imram or pip nail??

cool sista!!!


sonic

ha ha sonic..i am all over the place.........but so are you so what are you using? i am using mainly ozfx signals and then using imran for entry and all for confirmation...crazy huh?

cheers
kim
  • #679
  • Apr 25, 2008 1:14am Apr 25, 2008 1:14am
Quoting kimmy
ha ha sonic..i am all over the place.........but so are you so what are you using? i am using mainly ozfx signals and then using imran for entry and all for confirmation...crazy huh?

cheers
kim
me too..chk out my templates...familiar huh??

http://i31.tinypic.com/34fljr6.jpg

Happy Hunting, sista!!!
sonic
  • #680
  • Apr 25, 2008 7:57am Apr 25, 2008 7:57am
Quoting Pipsnagger
I don't know about the thread activity.... hope the explanation helps...I like this method because as FM states... any pair ...any time... it is an easy entry. But like any method you have to work hard for your Pips.
The entry couldn't be easier, this is what was the basis of the system.

As for exits, then you can employ different strategies.

If anyone else has any better ideas based upon testing for a better entry, I'd love to hear from you.
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