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Win or lose 100 pips. Place your bets.

  • #21
  • Mar 9, 2009 1:26pm Mar 9, 2009 1:26pm
hi skippy,

my plan was mainly to use stocks predictions and policy to predict + or - 100pips movement, s/r is only a reference.

and I exit the market once the market mover come into effect.

so mainly look at NOW and s/r of 2-3 days before.

Quoting Skippy
Have any of you considered time zones and differences in daily charts?

What chart is your broker feeding you?

All your calculations and careful use of lagging indicators could be even more out of whack.
  • #22
  • Mar 9, 2009 1:39pm Mar 9, 2009 1:39pm
Billy:

Good that you use dailies for SR.

I can't see how people believe lagging indicators can predict oil/gold fluctuations, US banks going down, bad/good economic news,repatriations, etc etc.

Traders don't go "oops,according to yesterdays fib we are 200 pips low,we'd better start buying"

Good luck with this.

Email me if u want
The harder I work,the luckier I get.
  • #23
  • Mar 9, 2009 1:59pm Mar 9, 2009 1:59pm
thanks skippy, I published my thinking in a description here.
http://www.forexfactory.com/showthread.php?t=156748

it's still in-door testing for several month, if it proves good profit/risk ratio I will release it. I'm still annoyed by several market randomness. need more work on it.

Quoting Skippy
Billy:

Good that you use dailies for SR.

I can't see how people believe lagging indicators can predict oil/gold fluctuations, US banks going down, bad/good economic news,repatriations, etc etc.

Traders don't go "oops,according to yesterdays fib we are 200 pips low,we'd better start buying"

Good luck with this.

Email me if u want
  • #24
  • Mar 9, 2009 2:09pm Mar 9, 2009 2:09pm
there was a question on brokers for canadians. not sure if you have answer for that. maybe you can help.

http://www.forexfactory.com/showthread.php?t=156823

Quoting Skippy
Billy:

Good that you use dailies for SR.

I can't see how people believe lagging indicators can predict oil/gold fluctuations, US banks going down, bad/good economic news,repatriations, etc etc.

Traders don't go "oops,according to yesterdays fib we are 200 pips low,we'd better start buying"

Good luck with this.

Email me if u want
  • #25
  • Edited 9:08pm Mar 10, 2009 8:55pm | Edited 9:08pm
Thank you for all of the suggestions you posted. It is possible that I have found what I needed. I found a 3 zz indicator. If you wait for a 3 and then wait for the candle to close and wait for the next candle to reverse, you can find the 100 pips.

http://i39.tinypic.com/15qzxc5.gif
TRO
  • #26
  • Mar 10, 2009 11:43pm Mar 10, 2009 11:43pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
... the next repainting indicator...
  • #27
  • Mar 12, 2009 8:29pm Mar 12, 2009 8:29pm
This is working well.

http://i43.tinypic.com/xkztaf.gif
TRO
  • #28
  • Mar 12, 2009 8:32pm Mar 12, 2009 8:32pm
Quoting onu
... the next repainting indicator...
I don't think you really understand how to use this indicator. In real time, the 3 moves to show you extremes have been reached.

If you have an indicator that plots the highest high of the day, would you call that repainting? During the day, the highest high of the day will move each time a new high is made. But come back tomorrow, it will only show the actual high of the day. This is not debatable.
TRO
  • #29
  • Mar 12, 2009 8:37pm Mar 12, 2009 8:37pm
All the proof I need.

http://i39.tinypic.com/t8qb9w.gif

http://i41.tinypic.com/a2t4xl.gif

http://i41.tinypic.com/25801g4.gif
TRO
  • #30
  • Mar 13, 2009 6:19am Mar 13, 2009 6:19am
What trades did you make using these indicators, and how did the trades perform? Would you post your high/low of the day indicator?

Quoting Toddfx
All the proof I need.

http://i39.tinypic.com/t8qb9w.gif

http://i41.tinypic.com/a2t4xl.gif

http://i41.tinypic.com/25801g4.gif
  • #31
  • Mar 13, 2009 7:02am Mar 13, 2009 7:02am
todd this was a news move isn't it...?

Quoting Toddfx
This is working well.
  • #32
  • Mar 13, 2009 2:26pm Mar 13, 2009 2:26pm
Billye:

"it's still in-door testing for several month, if it proves good profit/risk ratio I will release it". I'm still annoyed by several market randomness. need more work on it."

If you spend more months "testing" it..by the time you decide to live trade things will likely have changed and it will no longer work as well.

I suggest you test it by trading live mini or micro lots..at least you may make some money for your efforts.


Annoyed by market randomness??? This will always exist.

There are huge market forces, thousands of hedge funds,huge corporations/co.s,banks,central banks,etc who are moving hundreds of $millions all sorts of ways each day,based onfear and greed.

Bad news USA,OK news in UK means GBP will strengthen..but not always.
Maybe GBP is not strong enough,maybe corp. repatriates $400million that day,maybe oil company takes advantage of weaker GBP...who the hell knows??

Been making a very very good living at this for 4.3 years,and listen when I say:

The best a trader can ever do is be the best u can at entries,practice immaculate money management,and go along for the ride.
The harder I work,the luckier I get.
  • #33
  • Mar 13, 2009 2:28pm Mar 13, 2009 2:28pm
...and try to cut back on all those lagging indicators
The harder I work,the luckier I get.
  • #34
  • Mar 13, 2009 5:40pm Mar 13, 2009 5:40pm
I wouldn't be keen on this trading method because the risk/reward ratio is at 1:1, usually i would prefer at least 1:2. There is the potential to be whip-sawed at the news.
"The trend is your friend, until the end."
  • #35
  • Mar 13, 2009 6:48pm Mar 13, 2009 6:48pm
Quoting eagle4x
What trades did you make using these indicators, and how did the trades perform?
These are not trade indicators. They do not tell you when to enter or exit.
TRO
  • #36
  • Mar 13, 2009 6:50pm Mar 13, 2009 6:50pm
Quoting billye
todd this was a news move isn't it...?
It doesn't really matter what you call it. All that matters is that the move was there. My attention is focused on getting 100 pips.
TRO
  • #37
  • Mar 13, 2009 7:00pm Mar 13, 2009 7:00pm
Quoting ForexRookie
I wouldn't be keen on this trading method because the risk/reward ratio is at 1:1, usually i would prefer at least 1:2. There is the potential to be whip-sawed at the news.
Risk/Reward is a myth. The reason it is myth is that all a trader can do is enter and exit a trade. Nothing more. If you set your SL and TP after you enter the trade then you have created a Risk/Reward for that trade. The market doesn't know or care about your R/R. Sooner or later price will move to your SL or TP and you'll exit the trade. One time you'll see a pattern, enter the trade and your TP will be executed. The next time you see the exact same patten, you enter the trade and your SL will be executed. What do you do? Do you think you did something wrong or do you realize that this is to be expected?

It's more important to be able to recoginize immediately when the trade is not going as planned and exit.
TRO
  • #38
  • Mar 13, 2009 7:33pm Mar 13, 2009 7:33pm
Your post#25:
"If you wait for a 3 and then wait for the candle to close and wait for the next candle to reverse, you can find the 100 pips."

Sounds like "trade indicators" to me. Besides, all the dots on the 3_level_zigzag repaint like hell.



Quoting Toddfx
These are not trade indicators. They do not tell you when to enter or exit.
  • #39
  • Mar 14, 2009 12:31am Mar 14, 2009 12:31am
Quoting eagle4x
Your post#25:
"If you wait for a 3 and then wait for the candle to close and wait for the next candle to reverse, you can find the 100 pips."

Sounds like "trade indicators" to me. Besides, all the dots on the 3_level_zigzag repaint like hell.

Do you even know what repaint means? Man, the haters are out tonight. If you don't like the 3 Level ZZ Semafor then don't use it but please stop spreading repaint ignorance.

3_Level_ZZ_Semafor- The indicator which deduces extreme points of maxima and minima of the senior, average and small period on the price chart. It’s created on the basis of improved ZigZag algorithm

Originally Posted by Linuxser http://www.forex-tsd.com/images/buttons/viewpost.gif
Systems that costs several thousand dollars repaints.

eSignal AG software repaints and it's used by thousands traders. And it's a spectacular product (Software retails for $3,995. For further details on pricing).

AbleTrend RT (ex ASCtrend) cost $5,495. Monthly subscription starts from $263.

And professional traders use this products. Are they bad because it's repaint?

Repaint is not a problem depending on how we trade and which trading type we use.
TRO
  • #40
  • Mar 15, 2009 10:55am Mar 15, 2009 10:55am
Quoting Toddfx
Risk/Reward is a myth. The reason it is myth is that all a trader can do is enter and exit a trade. Nothing more. If you set your SL and TP after you enter the trade then you have created a Risk/Reward for that trade. The market doesn't know or care about your R/R. Sooner or later price will move to your SL or TP and you'll exit the trade. One time you'll see a pattern, enter the trade and your TP will be executed. The next time you see the exact same patten, you enter the trade and your SL will be executed. What do you do? Do you think you did...

From personal experience, risk:reward was the sole reason why i have blown up my account the first time i entered live trading. I agree that is all a trader can do, however, with a precise entry point you can minimize your downside risk and have a reward target which is double or more than your risk size. Its just pure mathematics. Be the casino; not the gambler scenario.

I think what your really asking there is where is the holy grail, because it sounds almost like you are looking for a system that never loses.
"The trend is your friend, until the end."
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