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Mikkom's stophunter system

  • #61
  • Apr 29, 2009 3:46am Apr 29, 2009 3:46am
Quoting TimeFreedom
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

I think I have got my head round this (NEARLY)- but the question above seems a good one.

ARE we just going of the open price of the new day candle for our +20 whatever the day before closed at ????

cheers Punta
  • #62
  • Apr 29, 2009 6:16am Apr 29, 2009 6:16am
I think your confusion is due to your Fractals colors being the opposite. Just reverse the colors and that should help.

TimeFreedom

Quoting Rastaman
And right now, I am a few candles short of a birthday cake.


What fun.
  • #63
  • Apr 29, 2009 6:54am Apr 29, 2009 6:54am
This is one of the most important questions that needs answering by Mikkom. It looks like it is happening right now with Cable. Thank you.

Quoting TimeFreedom
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
  • #64
  • Apr 29, 2009 7:10am Apr 29, 2009 7:10am
Yes, this is correct. Rastaman, this is one of the simplest systems there are. Go long at last up fractal, and short at the last low. Why make it so hard?

Quoting Rastaman
This is what we are doing here right?
Going LONG at point A and Short at point B

Think I need a beer.
  • #65
  • Apr 29, 2009 7:21am Apr 29, 2009 7:21am
Quoting Dreamliner
Yes, this is correct. Rastaman, this is one of the simplest systems there are. Go long at last up fractal, and short at the last low. Why make it so hard?


Ok, I will try to explain the confusion.

Normally at a fractal at point A on this chart, we expect the price to go DOWN. so, we would, or rather I would go SHORT at point A.

At point B we expect price to go UP so we would go LONG.

Why are we putting a LONG order at point A and a SHORT order at point B?
Attached Image
Starting to see instead of just looking.
  • #66
  • Apr 29, 2009 7:22am Apr 29, 2009 7:22am
Quoting Dreamliner
This is one of the most important questions that needs answering by Mikkom. It looks like it is happening right now with Cable. Thank you.
Dreamliner,
I think the answer is this:

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.
Lubo.
If I know how, I tell You!! Few but Good!!
  • #67
  • Apr 29, 2009 7:26am Apr 29, 2009 7:26am
Yes, I see what you mean, Rastaman. I guess this is probably more of a "breakout" method, where the price breaks out through the fractal, rather than a "range" method where the price bounces off the fractal. That's just a guess .

Quoting Rastaman
Ok, I will try to explain the confusion.

Normally at a fractal at point A on this chart, we expect the price to go DOWN. so, we would, or rather I would go SHORT at point A.

At point B we expect price to go UP so we would go LONG.

Why are we putting a LONG order at point A and a SHORT order at point B?
  • #68
  • Apr 29, 2009 7:29am Apr 29, 2009 7:29am
Hi to all. I post indicator, hope it'll help to trade with this type of fractal system.

Mikkom, did you open open another trade in the same direction if one still open? Did you open buy when sell is opened, and what if current trade is in loss- do we move TP to open+20pip? In this case we will be more likeley stoped out by tp but with a loss.
Attached File(s)
File Type: mq4 Fractal_channels.mq4   2 KB | 451 downloads
  • #69
  • Edited 7:45am Apr 29, 2009 7:31am | Edited 7:45am
Quoting Rastaman
Ok, I will try to explain the confusion.

Normally at a fractal at point A on this chart, we expect the price to go DOWN. so, we would, or rather I would go SHORT at point A.

At point B we expect price to go UP so we would go LONG.

Why are we putting a LONG order at point A and a SHORT order at point B?
Simple, this is the system.
If u don't like it stop follow.

I think the Mikkom's aim for this thread wuold be discuss on ideas people might come up with.

You have filled two pages with the same question, which has already been well answer.

I believe that if this thread continues in this way, Mikkom give up and and close it.

I invite everyone to read 10 times the posts n.1 and n.10 of Mikkom, try the method, before asking more questions.

Lubo.
If I know how, I tell You!! Few but Good!!
  • #70
  • Apr 29, 2009 7:36am Apr 29, 2009 7:36am
Quoting Dreamliner
Yes, I see what you mean, Rastaman. I guess this is probably more of a "breakout" method, where the price breaks out through the fractal, rather than a "range" method where the price bounces off the fractal. That's just a guess .

Thank the STARS someone has understood me at LAST!

I wasn't losing my mind, either me or you guys were thinking upside down.

The Red fractal on the top of a candle is normally a signal to go SHORT and LONG if the Blue is underneath the candle.

So, it is a rather unusual breakout system using the fractals for support or resistance once it breaks out beyond the fractal.
I suppose it makes sense as it has to break out at some time, either up or down.

Phew........
Starting to see instead of just looking.
  • #71
  • Edited 7:48am Apr 29, 2009 7:38am | Edited 7:48am
Quoting LuboLabo
Simple, this is the system.
If u don't like it stop follow.

I think the Mikkom's aim for this thread wuold be discuss on ideas people might come up with.

You have filled two pages with the same question, which has already been well answere.

I believe that if this thread continues, Mikkom give up and and close it.

I invite everyone to read 10 times the 1° and 10° posts of Mikkom, try the method, before asking more questions.

Lubo.

Possibly, but I was not the one confused! And neither did I say "I did not like it"!
So, how about you lay off it! Genuine questions were being asked and finally we all know what we wanted to know. I have deleted the questions, your highness.
Starting to see instead of just looking.
  • #72
  • Apr 29, 2009 7:55am Apr 29, 2009 7:55am
Quoting puntalara
I think I have got my head round this (NEARLY)- but the question above seems a good one.

ARE we just going of the open price of the new day candle for our +20 whatever the day before closed at ????

cheers Punta
Yes.
  • #73
  • Apr 29, 2009 8:02am Apr 29, 2009 8:02am
Quoting billbss
Yes.
Thanks - appreciated.

i have a BUY order on cable taken now. SL in place and -53 at the mo

lets see what tomorrow brings.

Punta
  • #74
  • Apr 29, 2009 8:05am Apr 29, 2009 8:05am
Quoting puntalara
Thanks - appreciated.

i have a BUY order on cable taken now. SL in place and -53 at the mo

lets see what tomorrow brings.

Punta
Same with me.
  • #75
  • Apr 29, 2009 8:07am Apr 29, 2009 8:07am
Quoting puntalara
Thanks - appreciated.

i have a BUY order on cable taken now. SL in place and -53 at the mo

lets see what tomorrow brings.

Punta
You're doing right.
Unless it hits the SL, when tomorrow's candle opens, add 20 pips to it for the TP.

You may wind up hitting the TP and still take a loss.
  • #76
  • Apr 29, 2009 8:07am Apr 29, 2009 8:07am
LuboLabo, I think this is the most unclear part of this method. How can the "next day bar start at 20 pips from its opening"? I'm sure I'm not understanding this, but a bar can not open (or start) 20 pips from its opening.

Quoting LuboLabo
Dreamliner,
I think the answer is this:

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.
Lubo.
  • #77
  • Apr 29, 2009 8:17am Apr 29, 2009 8:17am
Quoting Dreamliner
LuboLabo, I think this is the most unclear part of this method. How can the "next day bar start at 20 pips from its opening"? I'm sure I'm not understanding this, but a bar can not open (or start) 20 pips from its opening.
If you're in a long, have not been stopped out, and tomorrow's bar opens at 1.3000, you set your TP at 1.3020.
That is 20 pips above tomorrows open.

If tomorrows bar goes up 20 pips, you're out of the trade.
  • #78
  • Apr 29, 2009 8:38am Apr 29, 2009 8:38am
Quoting Dreamliner
LuboLabo, I think this is the most unclear part of this method. How can the "next day bar start at 20 pips from its opening"? I'm sure I'm not understanding this, but a bar can not open (or start) 20 pips from its opening.
Maybe i wasn't clear,

when a stop order is opens, wait the start of the next day candle, and then put a TP +20 pips (if long) or -20 pips (if short) from the opening value of the bar.
I hope I was more clear this time.

I am not so sure if this system must take into account the time zone you're in?!?!?

Lubo.
If I know how, I tell You!! Few but Good!!
  • #79
  • Apr 29, 2009 8:45am Apr 29, 2009 8:45am
Another system to watch and test!
Gray.
  • #80
  • Apr 29, 2009 9:35am Apr 29, 2009 9:35am
Quoting billbss
If you're in a long, have not been stopped out, and tomorrow's bar opens at 1.3000, you set your TP at 1.3020.
That is 20 pips above tomorrows open.

If tomorrows bar goes up 20 pips, you're out of the trade.

TP is always 20 pips?

The risk reward ratio seems a little unbalanced for anyone as the SL is currently over 200 pips on EUR/USD.

There must be more to this than meets the eye.
Starting to see instead of just looking.
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