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Mikkom's stophunter system

  • #41
  • Apr 28, 2009 8:46pm Apr 28, 2009 8:46pm
Quoting billbss
He also said to keep moving the TP, with every daily bar.
I don't understand this, Bill. Does he mean if the 20 pips aren't hit one day move it accordingly the next?
  • #42
  • Apr 28, 2009 8:50pm Apr 28, 2009 8:50pm
Quoting Dreamliner
I don't understand this, Bill. Does he mean if the 20 pips aren't hit one day move it accordingly the next?
Right. If it isn't hit on one day, move it the next day to the open of the next daily bar +/- 20 pips.

Here's the post where he told me that:


http://www.forexfactory.com/showpost...3&postcount=26
  • #43
  • Apr 28, 2009 8:55pm Apr 28, 2009 8:55pm
Quoting Rastaman
Thanks Bill

As soon as we see a fractal we put a buy/sell stop how far from the current price? I suppose we still decide to place the order based on price patterns and pivot points as normal and not just at random, right?

Sorry for making this sound like 20 questions, just trying to get my mind around this concept.
We put the Buy Stop at the last up fractal (+1 pip, I suppose) also + the spread.

If the last up fractal is at 1.3300, I would make a Buy Stop at 1.3303, (assumng a 2 pip spread).

Put a Sell Stop order for the last down fractal - 1 pip.

If the last down fractal is at 1.2800 I would make the order for 1.2799.

The system doesn't include any price action, other than breaking the fractals.

He didn't mention pivot points as being a part of it.
  • #44
  • Apr 28, 2009 11:10pm Apr 28, 2009 11:10pm
Quoting Rastaman
Thanks Bill

As soon as we see a fractal we put a buy/sell stop how far from the current price? I suppose we still decide to place the order based on price patterns and pivot points as normal and not just at random, right?

Sorry for making this sound like 20 questions, just trying to get my mind around this concept.
No price patterns, no pivots, nothing like that, this is simple.

This is based on something totally different - cumulation of stops at certain levels.
  • #45
  • Apr 28, 2009 11:21pm Apr 28, 2009 11:21pm
any BACK TEST RESULT?
  • #46
  • Apr 28, 2009 11:55pm Apr 28, 2009 11:55pm
Quoting woopypooky
any BACK TEST RESULT?
Not at this thread [anymore]

In my HUMBLE opinion everyone should do their own homework especially when they are spoonfed with caviar and truffles .

Also it's dangerous to trade systems that you personally aren't totally confident of and only way to be totally confident is to study and test the system over and over again.

For everyone else I humbly ask don't post the backtest results to this thread if you have them, people should do their homework themselves. Otherwise it's cheating.
  • #47
  • Apr 29, 2009 12:25am Apr 29, 2009 12:25am
Mikkom,
Finally you started a little piece of your infinite yield!!


Quoting mikkom
SL will remain where it is for the duration of the trade so no trails at this method.

If tp is not hit on next bar, it's set to +20 from the open of the next daily bar exactly the same way as in the previous bar.

There is a reason for both of these but I don't go there at least yet.
??????

Quoting mikkom
No price patterns, no pivots, nothing like that, this is simple.

This is based on something totally different - cumulation of stops at certain levels.
???????

Always a little mysterious!


BTW thanks.

Lubo.
If I know how, I tell You!! Few but Good!!
  • #48
  • Apr 29, 2009 12:36am Apr 29, 2009 12:36am
What to do if price breaks through fractal, Buystop and then closes below fractal? If we add +20 to open of the next bar for TP we could end up with a loss. Please advise.

TimeFreedom
  • #49
  • Apr 29, 2009 12:50am Apr 29, 2009 12:50am
Quoting Rastaman
Mikkom

Is this correct or am I barking up the wrong tree here?

We get the fractal signal on a D1 bar, if it is a SHORT signal, we place the Sell Stop order 1 pip lower than the signal bar. The SL is half of the signal bar and moved accordingly daily. The TP is the next LONG fractal.

Any chance you can post a chart of an entry, SL, TP both a winner and a loser?
I think it is in this way:
Attached Image (click to enlarge)
Click to Enlarge Name: fractalstoporders.gif Size: 24 KB
If I know how, I tell You!! Few but Good!!
  • #50
  • Apr 29, 2009 1:04am Apr 29, 2009 1:04am
Quoting LuboLabo
Mikkom,

Always a little mysterious!
In general I find Mikkom to be a very interesting poster, but this thread ranks very high in the "what on earth is he talking about" dept !

... but I suspect there's gold in them thar' hills...
  • #51
  • Apr 29, 2009 1:17am Apr 29, 2009 1:17am
Quoting Rastaman
So we wait for both a LONG & SHORT fractal and place a SELL STOP & BUY STOP 1 pip above and below each of them, the SL is half way down each setup bar?

You only have 1 SL and not 2 and it is does not seem to have any relationship to the bar the order is on?
SL is in half between up and down fractals.

Lubo.

P.s. Mikkom correct me if i'm wrong.
Attached Image (click to enlarge)
Click to Enlarge Name: fractalstoporders2.gif Size: 25 KB
If I know how, I tell You!! Few but Good!!
  • #52
  • Apr 29, 2009 1:28am Apr 29, 2009 1:28am
Quoting Rastaman
Hang on a sec....If you put a buy stop at the top fractal, are you not actually putting a buy order at a sell fractal?

Sorry, sleep deprivation and my mind is boggling at this.

Certainly picks the wrong time to boggle.
I don't know if I understood weel your question, but this is how stop orders work.
Attached Image
If I know how, I tell You!! Few but Good!!
  • #53
  • Apr 29, 2009 1:34am Apr 29, 2009 1:34am
Quoting jtrade
In general I find Mikkom to be a very interesting poster, but this thread ranks very high in the "what on earth is he talking about" dept !

... but I suspect there's gold in them thar' hills...
Yes i know Mikkon is a really focused trader, with a big knowledge.
I believe that he thinks that everyone should study himself on inputs which others propose, and I am quite agree with him.

Lubo.
If I know how, I tell You!! Few but Good!!
  • #54
  • Apr 29, 2009 1:46am Apr 29, 2009 1:46am
Quoting Rastaman
Thanks Lubo

I think I grasp it and the penny dropped at last as to why this is called "Stophunter".

This looks good to go, does it not? The sell stop order is wrong, just corrected it to 1.2879
Ya, i think it's correct.
If I know how, I tell You!! Few but Good!!
  • #55
  • Apr 29, 2009 2:17am Apr 29, 2009 2:17am
Quoting Rastaman
We are actually, putting a buy order at a sell fractal and a sell order at a buy fractal here, right?

I am sure it is a brilliant idea but, perhaps sleep deprivation is a good companion for this system.
what do u mean for sell and buy fractals?
Upper and lower?
If I know how, I tell You!! Few but Good!!
  • #56
  • Apr 29, 2009 2:23am Apr 29, 2009 2:23am
Rastaman, don't you think is better if you sleep and after you re-read this thread when you are more bright?
If I know how, I tell You!! Few but Good!!
  • #57
  • Apr 29, 2009 2:53am Apr 29, 2009 2:53am
Hi Mikkom,

You mentioned if an order hasn't been triggered in 30 days, then cancel it. I'm not sure if it's super important or not, but do you mean 30 trading days, or just 30 calendar days.

Thanks for an interesting system.
B
  • #58
  • Edited 3:06am Apr 29, 2009 2:56am | Edited 3:06am
Quoting Rastaman
If I did that, I would never really get to understand it.

Also, I am waiting for the London session to start to move.
As you like, but keep it simple (like Mikkom says).

Buy at Upper Fractal (with Buy Stop), Sell at Lower Fractal (with Sell Stop), do this for each fractal will appear.
Put SL on the middle between last Upper and Lower Fractal.
Put TP only when next Day bar, of the open positions, starts, at +20 pips from its opening(of the new day bar, not of the open positions) if the position is a buy, and at -20 pips if position is a sell.
IF TP or SL are not hit, wait next day and do the same.
IF within 30 days the stop orders will not be open, delete them.

Lubo.
If I know how, I tell You!! Few but Good!!
  • #59
  • Apr 29, 2009 3:10am Apr 29, 2009 3:10am
Quoting b-rock
Hi Mikkom,

You mentioned if an order hasn't been triggered in 30 days, then cancel it. I'm not sure if it's super important or not, but do you mean 30 trading days, or just 30 calendar days.

Thanks for an interesting system.
B
I didn't thought to this detail!
If I know how, I tell You!! Few but Good!!
  • #60
  • Apr 29, 2009 3:23am Apr 29, 2009 3:23am
Quoting LuboLabo
what do u mean for sell and buy fractals?
Upper and lower?

The RED fractal above the bars on my chart is a signal to SELL, the BLUE fractal below the bars is a signal to buy. Yet, we are putting a buy stop order at the RED fractal, where one would normally SELL, not buy!

That is the whole point of the StopHunter, is it not.

I know it sounds crazy but I am open to anything, on Demo!

Here we go again....More Coffeeeeeeeeeeeee!!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 100 KB
Starting to see instead of just looking.
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