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

  • #841
  • May 27, 2008 2:20pm May 27, 2008 2:20pm
Quoting Vensik
Open Office opens it.
Cheers Vensik
  • #842
  • May 27, 2008 2:21pm May 27, 2008 2:21pm
Quoting ince07
all the original rules were followed, but i did not take trades with low profit target like 2-5 pips and if the profit level was not more than double of the spread, i did not take it.
Above rule is now an official part of the system (on first post).
  • #843
  • May 27, 2008 8:02pm May 27, 2008 8:02pm
Quoting forexmoments
Also, another rule of thumb is, only take the trade if the TP is at least twice the size of the pair's spread.
Can you please explain this a little more. I can set TP as much as I want, so how are you calculating TP based on when the trade is placed? What denotes your TP value during time of signal for you to compare to the spread in the first place?

Thank you
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #844
  • May 27, 2008 9:04pm May 27, 2008 9:04pm
I'm riding the USD/JPY H1 short signal from this morning
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  • #845
  • Edited 3:45am May 28, 2008 3:30am | Edited 3:45am
Quoting matrixebiz
Can you please explain this a little more. I can set TP as much as I want, so how are you calculating TP based on when the trade is placed? What denotes your TP value during time of signal for you to compare to the spread in the first place?

Thank you
the base system, as documented in post #1, suggests to exit on the high/low of the nailed candle. So, when getting perfect entries, the PT would be the size of the nailed candle, which is the distance where you would place your stops at.

The added rule specifies that if the size of the nailed candle is so small that the stops would be placed too close, that in this case you should not take the trade. As a rule of thumb, ForexMoments specified to use twice the current spread as a measure whether there's enough to be had from entering a position. If not, let it go.

You might also want to re-read my original post on this subject, as it documents another observation I made:
http://www.forexfactory.com/showpost...&postcount=827

cheers
Ohka
  • #846
  • Edited May 29, 2008 1:13am May 28, 2008 3:43am | Edited May 29, 2008 1:13am
Yet another of my observations that caused me to tighten up my filters:

don't enter a position when the BollingerBands are converging.

I don't want to get caught with significantly decreasing volatility, as the direction of price action during a new period of increasing volatility further down the line cannot be predicted - at least I can't...

Ohka
  • #847
  • May 28, 2008 7:06am May 28, 2008 7:06am
Quoting Ohka
the base system, as documented in post #1, suggests to exit on the high/low of the nailed candle. So, when getting perfect entries, the PT would be the size of the nailed candle, which is the distance where you would place your stops at.

The added rule specifies that if the size of the nailed candle is so small that the stops would be placed too close, that in this case you should not take the trade. As a rule of thumb, ForexMoments specified to use twice the current spread as a measure whether there's enough to be had from entering a position. If not, let it go.

You might also want to re-read my original post on this subject, as it documents another observation I made:
http://www.forexfactory.com/showpost...&postcount=827

cheers
Ohka
OK, I get it know thanks. I'm going to do an EA for this on the weekend to try the system out.
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #848
  • May 28, 2008 1:06pm May 28, 2008 1:06pm
Quoting Ohka
the base system, as documented in post #1, suggests to exit on the high/low of the nailed candle. So, when getting perfect entries, the PT would be the size of the nailed candle, which is the distance where you would place your stops at.

The added rule specifies that if the size of the nailed candle is so small that the stops would be placed too close, that in this case you should not take the trade. As a rule of thumb, ForexMoments specified to use twice the current spread as a measure whether there's enough to be had from entering a position. If not, let it go.

You might also want to re-read my original post on this subject, as it documents another observation I made:
http://www.forexfactory.com/showpost...&postcount=827

cheers
Ohka
Thanks for explaining Okha.
  • #849
  • May 29, 2008 1:32am May 29, 2008 1:32am
Did anyone take this Guppy signal on H1 yesterday? Would have been good for 50 pips.
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  • #850
  • May 29, 2008 1:52am May 29, 2008 1:52am
if you guys see any signals on H1 or H4 please let me know, i watch this thread regularly
  • #851
  • May 29, 2008 2:15am May 29, 2008 2:15am
Quoting Ohka
Yet another of my observations that caused me to tighten up my filters:

don't enter a position when the BollingerBands are converging.

I don't want to get caught with significantly decreasing volatility, as the direction of price action during a new period of increasing volatility further down the line cannot be predicted - at least I can't...

Ohka

I've noted that the above filter might sometimes be a bit too restrictive, so I'm now investigating two other things to the same effect:

- only enter a position when ATR is increasing, and/or
- only enter a position when the nailed candle is significantly larger than the two preceeding candles.

both rules try to limit entries to situations where a rising volatility is increasing the odds for a good trade. Has anyone of you tried similar approaches to filter out potentially bad trades? I'd like to learn from your experiences. What works, what doesn't ?

cheers,
Ohka
  • #852
  • May 29, 2008 6:31am May 29, 2008 6:31am
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

EDIT: Please note, I do not recommend smaller timeframes, especially anything under 30min. Also, another rule of thumb is, only take the trade if the TP is at least twice the size of the pair's spread.
9c trade system. How do you handle overbougt and oversold conditions?

Regards

Tolu
  • #853
  • May 29, 2008 6:33am May 29, 2008 6:33am
Quoting Ohka
I've noted that the above filter might sometimes be a bit too restrictive, so I'm now investigating two other things to the same effect:

- only enter a position when ATR is increasing, and/or


- only enter a position when the nailed candle is significantly larger than the two preceeding candles.

both rules try to limit entries to situations where a rising volatility is increasing the odds for a good trade. Has anyone of you tried similar approaches to filter out potentially bad trades? I'd like to learn from your experiences. What works, what doesn't ?

cheers,
Ohka
Volatility makes a decent filter but keep in mind that whiplash tends to be behind high volatility.
  • #854
  • May 30, 2008 2:30am May 30, 2008 2:30am
GBP/CHF Nailed H1.
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  • #855
  • May 30, 2008 3:04am May 30, 2008 3:04am
Dear Ash,

Thanks a lot for "Pip Nailer" and "Bouncing Pip" threads.

I just joined a week back and have got installed both the signals into my Demo account.

I am following the "Bouncing Pip" very closely ...

Thanks a lot and Hats off to you....Plz keep up the good work going on ..

Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #856
  • May 30, 2008 1:09pm May 30, 2008 1:09pm
hi ,can u explain some of this... i'm using TF M15, on EUR/CHF
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  • #857
  • May 31, 2008 2:25am May 31, 2008 2:25am
Quoting moneyme79
hi ,can u explain some of this... i'm using TF M15, on EUR/CHF
"Also" sprach Ohka, "there's nothing to explain, it's just not a nailed candle. First read the document in post #1, or thoroughly re-read it in case you read it already"
  • #858
  • Jun 1, 2008 7:05am Jun 1, 2008 7:05am
Quoting Ronald Raygun
Volatility makes a decent filter but keep in mind that whiplash tends to be behind high volatility.
True, and this is an example of where some discretion is needed by the trader.
  • #859
  • Jun 1, 2008 12:06pm Jun 1, 2008 12:06pm
Quoting SwingMan
PipNailer DashBoardEquity

And now comes the big surprise!

With help of the TradingSimulator I build a DashBoard for all equitys and time frames, to make quickly general evaluations.
If the calculations in TradingSimulator are correct, here is an overview of the system efficiency.
(Please save in '...\indicators' the new 'PipNailer oTradeSimulator_v1.2' indicator)

Any remarks?
.
swingman, what does this dashboard trying to tell us? your 1st dashboard which tell the direction is best - clear and very good ( 1.4) this one make me confuse. please explain, if it is not burdening you
  • #860
  • Jun 2, 2008 1:57am Jun 2, 2008 1:57am
Swingman hasn't been on this board for a few weeks now.
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