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The alternative method (50 pip candles)

  • #141
  • Dec 17, 2009 6:21am Dec 17, 2009 6:21am
Quoting Chris_B
I think that if you read the entire thread you find the answers....

Anyway...this is the alternative methods...it not depends on previous 3 candles...
And then...i posted in the thread an EA (or script) to draw with MT4 the candles with instructions on how to make it work....
Thanks for your reply, Chris. I saw the "EA" posted several days ago, but I thought this EA does what a EA does: looking for entries, sent orders and manages them. I didn't know is in fact an indicator. I'll take a look at it.
And about the entries you took, if the rules from the original thread haven't been changed, then your chart should look like below.
Please, correct me if I'm wrong.
Best regards!
Attached Image (click to enlarge)
Click to Enlarge Name: alternative3_mod.gif Size: 10 KB
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #142
  • Dec 17, 2009 6:50am Dec 17, 2009 6:50am
Quoting Cornelius
Thanks for your reply, Chris. I saw the "EA" posted several days ago, but I thought this EA does what a EA does: looking for entries, sent orders and manages them. I didn't know is in fact an indicator. I'll take a look at it.
And about the entries you took, if the rules from the original thread haven't been changed, then your chart should look like below.
[size=3][FONT=Comic...
I think cornelius you talk about 50 pips candle system, another thread

december updated for the alternative method : 1 000 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 09-12-17 13 36 59.jpg Size: 44 KB
  • #143
  • Dec 17, 2009 6:53am Dec 17, 2009 6:53am
Quoting Cornelius
Thanks for your reply, Chris. I saw the "EA" posted several days ago, but I thought this EA does what a EA does: looking for entries, sent orders and manages them. I didn't know is in fact an indicator. I'll take a look at it.
And about the entries you took, if the rules from the original thread haven't been changed, then your chart should look like below.
[size=3][FONT=Comic...
It's not this strategy...
Market is like a puzzle, YOU have to fit the pieces!!
  • #144
  • Dec 17, 2009 6:54am Dec 17, 2009 6:54am
Quoting zebulon

december updated for the alternative method : 1 000 pips
On my data feed your last green candle is not completed...is still open...
This is why we have a difference in results...depending on different brokers...
Market is like a puzzle, YOU have to fit the pieces!!
  • #145
  • Dec 17, 2009 7:05am Dec 17, 2009 7:05am
Thank you guys for your replies. I'll try to read the full threads to clarify myself.
Chris, I've downloaded the indicator and it works nice. Good job!
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #146
  • Dec 17, 2009 7:21am Dec 17, 2009 7:21am
Quoting Chris_B
On my data feed your last green candle is not completed...is still open...
This is why we have a difference in results...depending on different brokers...
Yes, With my broker, the price has reaches 1.6148
But with the spread, the sell price was 1.6146 and the buy price was 1.6150. That's why my buy order was touched and i draw a candle.
That's why there is some differences between my manual candles and EA...

http://cdn.forexfactory.com/images/misc/progress.gif

  • #147
  • Dec 17, 2009 11:58am Dec 17, 2009 11:58am
Update:

R G G G R R R R R R G ?
- + - + - + - + - + - +

Pips sequence:
+50 +50 -50 +100 +50 -50 +100 -50 +100 -50 -100 ?
TOTAL: +150
Market is like a puzzle, YOU have to fit the pieces!!
  • #148
  • Dec 17, 2009 5:20pm Dec 17, 2009 5:20pm
can i ask how many orders u open while waiting for the price to hit the SL and TP.

lets say the price now is .6000 u open one at .5950 and .6050 only? do u have any other orders opened?
  • #149
  • Dec 17, 2009 6:03pm Dec 17, 2009 6:03pm
Quoting ja5on
can i ask how many orders u open while waiting for the price to hit the SL and TP.

lets say the price now is .6000 u open one at .5950 and .6050 only? do u have any other orders opened?
No, i have just 2 orders.
  • #150
  • Edited 11:01pm Dec 17, 2009 8:48pm | Edited 11:01pm
i normally open 4 orders.

lets say now the price is 6000. opened order is +1 lot tp6050 sl5950.

i would opened 4 orders.
-1@6050 -2@5950
+2@6100 +1@5900


nxt i would like to ask if lets say we enter the range in the wrong order..

+-+-++
-+--- - +

the order for the red u would not put a tp there? u will just move the SL up after it hit the 50pips mark or what? but by the blue entry u would have been stopped out. so u open another order at the SL?
i m not really sure on the orders on the range part. can u give an example?
  • #151
  • Dec 18, 2009 2:13am Dec 18, 2009 2:13am
Update:

R G G G R R R R R R G G R G ?
- + - + - + - + - + - + - / /

Pips sequence:
+50 +50 -50 +100 +50 -50 +100 -50 +100 -50 -100 +200 +50
TOTAL: +400

I've missed the last green candle and the current candle because i was sleeping...virtually i am +450 because my order would have been +
The only way to not miss movements during night time is to have an EA...
Market is like a puzzle, YOU have to fit the pieces!!
  • #152
  • Dec 18, 2009 8:00am Dec 18, 2009 8:00am
Zebulon...have you ever tried to trade this system with 100pips candles instead of 50?

Just an idea...i think it work in the same way...buy perhaps we can avoid missing candles during night times due to the more relaxed trading...
I've made a very quick visually backtest from 24 november to today and the system would have been gained 1300 pips...

What do you think?
Market is like a puzzle, YOU have to fit the pieces!!
  • #153
  • Dec 18, 2009 8:25am Dec 18, 2009 8:25am
Quoting ja5on
i normally open 4 orders.

lets say now the price is 6000. opened order is +1 lot tp6050 sl5950.

i would opened 4 orders.
-1@6050 -2@5950
+2@6100 +1@5900


nxt i would like to ask if lets say we enter the range in the wrong order..

+-+-++
-+--- - +

the order for the red u would not put a tp there? u will just move the SL up after it hit the 50pips mark or what? but by the blue entry u would have been stopped out. so u open another order at the SL?
i m not really sure on the orders on the range part....
When i have -+-, i know i'm in a range, so i play -. I put a TP because if the next candle is + i'm still in the range and i will play -. But if the next candle is -, i 'm no more in the range i will play +
  • #154
  • Dec 18, 2009 8:27am Dec 18, 2009 8:27am
Quoting Chris_B
Zebulon...have you ever tried to trade this system with 100pips candles instead of 50?

Just an idea...i think it work in the same way...buy perhaps we can avoid missing candles during night times due to the more relaxed trading...
I've made a very quick visually backtest from 24 november to today and the system would have been gained 1300 pips...

What do you think?
No i didn't test it.
I'm looking for the best solution working every year, lots of work and very difficult...
  • #155
  • Dec 18, 2009 10:13am Dec 18, 2009 10:13am
Hello Zebulon and all,
I find you have really made excellent work here, thank you for sharing all this great thinking. I have been a keen follower of both your threads. In the attached spreadsheet I did what this thread says according to your rules. However my results differ from yours, can you kindly take a look at it and advise… Thanks again
PS: Je trouve génial le fait que vous soyez Français!
Attached File(s)
File Type: xls ZEBULON-ALTERNATIVE-MINE3.xls   26 KB | 392 downloads
  • #156
  • Dec 18, 2009 10:55am Dec 18, 2009 10:55am
Update:

R G G G R R R R R R G G R G R R ?
- + - + - + - + - + - + - / - + -

Pips sequence:
+50 +50 -50 +100 +50 -50 +100 -50 +100 -50 -100 +200 +50 (MISSED) +50 - 50 ?
TOTAL: +400

This morning i missed 2 candles..anyway the second candle returned to the round number so i've entered again in the right direction of the sequence...
I'm in a short position now with 0.20 lots..if it closes down...i will stop for this week...as i can't follow the market this evening...
In that case i will close this week for the strategy with +500 pips...not bad!!
Market is like a puzzle, YOU have to fit the pieces!!
  • #157
  • Dec 18, 2009 11:09am Dec 18, 2009 11:09am
Another question for you Zebulon, for instance the last sell order from 1.6100 to 1.6050 reached the 1.6050 mark; however my trade is still open. I wouldn’t know if the buy from 1.6050 would have got triggered since I hadn’t placed the pending order.
Do you wait for the order to close automatically or would you sometimes close it manually especially since 1.6050 represents a congested demand zone?
  • #158
  • Dec 18, 2009 12:52pm Dec 18, 2009 12:52pm
Quoting Chantalb
Hello Zebulon and all,
I find you have really made excellent work here, thank you for sharing all this great thinking. I have been a keen follower of both your threads. In the attached spreadsheet I did what this thread says according to your rules. However my results differ from yours, can you kindly take a look at it and advise… Thanks again
PS: Je trouve génial le fait que vous soyez Français!
Soyez la bienvenue !

I 've little differences for the last candles, that's possible because differents brokers and spreads, but with your candles, i would have the same.
Attached File(s)
File Type: xls ZEBULON-ALTERNATIVE-MINE3(1).xls   35 KB | 323 downloads
  • #159
  • Dec 18, 2009 12:56pm Dec 18, 2009 12:56pm
Quoting Chantalb
Another question for you Zebulon, for instance the last sell order from 1.6100 to 1.6050 reached the 1.6050 mark; however my trade is still open. I wouldn’t know if the buy from 1.6050 would have got triggered since I hadn’t placed the pending order.
Do you wait for the order to close automatically or would you sometimes close it manually especially since 1.6050 represents a congested demand zone?
I wait for the order close automatically, except sometimes if i play with 4 lots ...
  • #160
  • Dec 18, 2009 2:51pm Dec 18, 2009 2:51pm
Zebulon,
OK, now I'm confused. In post #3 you said:

Quoting zebulon
another range
-+-+-+
my orders change like this
+-++++ i consider a range is 3 alternative symbols, in this case the 4th and next symbols will be the same as the 3rd until the range is finished.
But above you say:

Quoting zebulon
When i have -+-, i know i'm in a range, so i play -. I put a TP because if the next candle is + i'm still in the range and i will play -. But if the next candle is -, i 'm no more in the range i will play +
If you were in this range the wrong way, wouldn't you play + until out of the range and not -? Your 4th order and so on is supposed to be the same as #3 until you break the range, right?
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