GGG - Gann Grid Group Trading | Page 8 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Flexy Grid EA (Grid Trading) 1,363 replies

Grid - New indicator that replaces chart grid 60 replies

Grid, Burst Grid, Grid Risk and Grid Profit 1 reply

Drawing Gann Grid in mt4, the correct way 3 replies

MQL4: Price cross Gann grid? 3 replies

Attachments: GGG - Gann Grid Group Trading
Exit Attachments

GGG - Gann Grid Group Trading

  • #141
  • Aug 10, 2009 6:34am Aug 10, 2009 6:34am
In this chart GG is not at right place, one thing which i already mentioned that as any peak or valley breaks that one does not remain highest or lowest. And until any peak or valley does not break that one remains highest or lowest.
Quoting Hercs
Hi WedWed and or Haiderfsd,

Please could you draw GG on a current (and NOT June 2009!) GBP/USD chart for clarification.

I am placing an attempted drawing here, but I can tell you upfront, that I could not draw the Neg-line. (My GG sometimes gives me an option of 2 points and sometimes not and I do not know why)

I used Point "A" as start as it represents in my mind's eye, a VALLEY whereas the LOW to the left of it, is just a Low. Comment plse.

Therefore Point "B" will be penetrating the NEG-line which I drew in Magenta @ midnight GMT...
  • #142
  • Aug 10, 2009 6:42am Aug 10, 2009 6:42am
See my last post, at which point you are seeing negative line still that one is highest peak according to current price. When price will break this line then you will place negative line at new highest peak.
Quoting Hercs
I attach for your kind perusal a similar chart with GG draw precisely as the previous one but on a platform that is GMT +2 and now I can see the incredible NEG-line and also the peak within the Grid.

Should I therefore concentrate on this chart rather than the GMT-charts?

Once again your assistance will be much appreciated.

Best wishes.
  • #143
  • Aug 10, 2009 6:47am Aug 10, 2009 6:47am
Quoting haiderfsd
See my last post, at which point you are seeing negative line still that one is highest peak according to current price. When price will break this line then you will place negative line at new highest peak.
Thank you Haiderfsd. Would you mind drawing the correct one on GBP/USD M30 chart based on what I have shown you so that I can finally understand it, please?

Much appreciated.
Hercs
  • #144
  • Aug 10, 2009 6:53am Aug 10, 2009 6:53am
Have you seen my last post of GBP/USD 30M?
Quoting Hercs
Thank you Haiderfsd. Would you mind drawing the correct one on GBP/USD M30 chart based on what I have shown you so that I can finally understand it, please?

Much appreciated.
  • #145
  • Aug 10, 2009 6:56am Aug 10, 2009 6:56am
Quoting haiderfsd
Have you seen my last post of GBP/USD 30M?

#Post 136 was your last Post and all you did was to correct WedWed's starting point on a chart dated JUNE 8th.

I have asked for a current chart as I am learning how to do this correctly from the start and therefore my request to you again. If it is a problem for you, I will understand.

Sincerely.
Hercs
  • #146
  • Aug 10, 2009 7:13am Aug 10, 2009 7:13am
Quoting Hercs
Thank you Haiderfsd. Would you mind drawing the correct one on GBP/USD M30 chart based on what I have shown you so that I can finally understand it, please?

Much appreciated.

Attached Image (click to enlarge)
Click to Enlarge Name: monday 10 aug 09 m30 (b).gif Size: 79 KB

  • #147
  • Aug 10, 2009 7:19am Aug 10, 2009 7:19am
You should see post# 135.
Quoting Hercs
#Post 136 was your last Post and all you did was to correct WedWed's starting point on a chart dated JUNE 8th.

I have asked for a current chart as I am learning how to do this correctly from the start and therefore my request to you again. If it is a problem for you, I will understand.

Sincerely.
  • #148
  • Aug 10, 2009 7:33am Aug 10, 2009 7:33am
Quoting haiderfsd
You should see post# 135.





First of all thank you for the posting of the correct drawing. Much appreciated.

Secondly, I have read and reread every single one of your posts including #135, but what I was interested in is the reading of today's short entry which you do not show in your post #135. I understand that the NEG-line remains "in charge" but the second post I posted here today is very different from my first one as I have used 2 different Platforms hence the confusion.

So, effectively I will first look at the NEG-line when I start trading in the morning for Shorts like last Friday (and vice versa for Longs) and determine the direction or rather BUY / SELL ZONES that way. Any retrace would have been superfluous and a SHORT to be expected.

I thank you for helping me find my footsteps.

Sincerely.
Hercs
  • #149
  • Aug 10, 2009 7:48am Aug 10, 2009 7:48am

Attached Image (click to enlarge)
Click to Enlarge Name: gu4.jpg Size: 111 KB


Quoting Hercs
First of all thank you for the posting of the correct drawing. Much appreciated.

Secondly, I have read and reread every single one of your posts including #135, but what I was interested in is the reading of today's short entry which you do not show in your post #135. I understand that the NEG-line remains "in charge" but the second post I posted here today is very different from my first one as I have used 2 different Platforms hence the confusion.

So, effectively I will first look at the NEG-line when I start trading in the morning for Shorts...
  • #150
  • Aug 10, 2009 8:00am Aug 10, 2009 8:00am
Thank you very much for the lesson, Haiderfsd. I do appreciate your time. I will confirm from time to time if I feel that I am uncertain of my drawings / interpretations.

Sincerely,
Hercs
  • #151
  • Aug 10, 2009 8:06am Aug 10, 2009 8:06am
Welcome
Quoting Hercs
Thank you very much for the lesson, Haiderfsd. I do appreciate your time. I will confirm from time to time if I feel that I am uncertain of my drawings / interpretations.

Sincerely,
  • #152
  • Aug 10, 2009 6:15pm Aug 10, 2009 6:15pm
Quoting haiderfsd

Attachment

Going buy your own rules the second break here is actually invalid because you do not have a lower high
  • #153
  • Aug 10, 2009 6:31pm Aug 10, 2009 6:31pm
have been trading 123 patterns for years now and while back testing I noticed many happened after the break of a 45 degree trend line. I did some testing and was dissapopinted when I discovered that the 45 degree trend line would change when the chart size changed automatically to accommodate new data. But now you have introduced me to the Gann Grid and Gann line which I use in my 123 trading and it keeps the 45 degree angle inspite of new data. So even though I don't trade the way you do (never quite figured out what that is by the way. My strategy needs a profit target) I thank you for your expalination of this Gann line. It's something I discovered years ago but abandoned. Attached is the latest 123 trade I have made with the Gann line. Thanks again
The trade attached was taken after price broke the Gann line and then made a lower high. A sell order was placed under the latest valley with a profit target of the amount of pips from the last leg down which is 9 pips in the instance. Maybe this can help some of your followers who never did get a profit target from you. Thanks again.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_25 Aug. 11 09.20.gif Size: 12 KB
  • #154
  • Aug 10, 2009 6:35pm Aug 10, 2009 6:35pm
Here is another screen shot. As you can see the target (green line) was reach but this can sometimes take some time. Again trade was taken after price broke Gann line then formed a lower high or 123 pattern
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_24 Aug. 11 09.06.gif Size: 24 KB
  • #155
  • Aug 10, 2009 6:39pm Aug 10, 2009 6:39pm
And one more... Target is nearly always reached.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_22 Aug. 11 08.56.gif Size: 16 KB
  • #156
  • Aug 10, 2009 6:45pm Aug 10, 2009 6:45pm
As you can see from my last pic, waiting for price to break the number 2 instead of taking trade when the second Gann line is broken has a much better success rate. And less likely to stop you out.
  • #157
  • Aug 10, 2009 7:30pm Aug 10, 2009 7:30pm
As you can see with this pic there are a few instances where price broke the negative line and had we moved the Gann line to that point we would have been in a trade according to the rules as I understand them in this thread. We had a break of the negative line and a pullback with a higher low. These trades would have been stopped out. But had you waited for the pullback then only taken the trade once the number 2 of the 123 pattern been taken out then none of those dodgy trades would have been taken.
As you can see in the is pic the negative Gann line was broken. So we are in buy zone. Now we look for a higher low. There are quite a few and had we moved the Gann line there and taken a trade when that line was crossed we would have been stopped out at least twice. So we wait and the second Gann line is given confirmation when a 123 forms with the number 2 hard against it. Now we can take the trade ONLY when that number two is taken out. It is and as you can see our profit is reached. That is a system
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_30 Aug. 11 10.11.gif Size: 18 KB
  • #158
  • Aug 10, 2009 7:59pm Aug 10, 2009 7:59pm
Although I appreciate discovering the Gann line to use with the 123 pattern I have to say that this thread seems to be all over the place as far as rules are concerned and when they apply. The author saying that trades taken in the buy/sell zone have an %80 success rate is ridiculous when he doesn't even have a profit target. Then he has rules which he himself doesn't even adhere to. Look at the chart attached which the author himself supposed fixed according to his own rules but his rules are "there must be a lower high NOT in the sell zone" yet, forgive me if I am wrong, but all of the lower highs in this chart are in the sell zone. Then he states you must have a lower high for a trade to be valid yet quite clearly in the chart attached the second trade has a higher high. Then he promises he will tell his followers of a profit target but never states one.
Personally I think the Gann line is great but the system stated here does not seem to have hard and fast rules and when backtested the results are any but %80 winner. I have tried with multiple profit targets. But I have to say that I appreciate this thread for the fact that the Gann line works great with the 123 and for that I appreciate the author starting this thread.
Attached Image
  • #159
  • Aug 12, 2009 2:19am Aug 12, 2009 2:19am
Kindly comment on my chart as of this morning.

The NEG-line remains intact, but the Lower Highs came into play.

My entry was earlier than the signal (marked with Blue triangle), but I just want to confirm that my understanding of the concept is correct, please.

Note that profit was taken at the 123% Fib level.

Best regards.
Attached Image (click to enlarge)
Click to Enlarge Name: wednesday 12 aug 09 m30.gif Size: 52 KB
Hercs
  • #160
  • Aug 12, 2009 2:21am Aug 12, 2009 2:21am
you should see post#135, where TP is mentioned.
Quoting forexgaz
have been trading 123 patterns for years now and while back testing I noticed many happened after the break of a 45 degree trend line. I did some testing and was dissapopinted when I discovered that the 45 degree trend line would change when the chart size changed automatically to accommodate new data. But now you have introduced me to the Gann Grid and Gann line which I use in my 123 trading and it keeps the 45 degree angle inspite of new data. So even though I don't trade the way you do (never quite figured out what that is by the way. My strategy...
0 traders viewing now