Mrezoots' Bottom-Less Pipshake.

I would first off like to thank everyone here at FF for being so generous and willing to lend a helping hand.

If it was not for that very mentality running through the forum, most of the beginners would lose hope and confidence VERY quickly!

These people (FF community) are the same ones who have kept me going and kept me confident that there is a way to be the elusive 5% we hear of so often.

My intent in this journal is to publicly document any changes to my present configuration, and report the progress of any implemented changes.

I am also completely open to any input from anybody that feels compelled to contribute.
Lets just make sure that you have a valid way to back up your statements and ideas (charts, docs, etc.)

Like most people on FF, I spent my fair share of time searching for NEW and BETTER systems than what your using. Only to find out that I would have more than likely done better with just learning ONE of those systems completely (Stick w/ it) before judging if it is successful or not.

When I started FX, I began in the M5-M15 chart scalping aisle. Like I have come to find out that MOST do. In these TF's your Money Management is CRUTIAL! Your MM will be the BIGGEST factor to if you are profitable in the end of the month.

*I would like to take a second to now preface and tell you that I came to Forex Trading from Online Poker (Full Tilt baby!) This also is a quite common crossover so I hear....both ways actually! For anyone who has played poker at all, let alone been long-term successful to any extent, will tell you that MM is the SINGLE BIGGEST aspect of poker! PERIOD! I would rather be a moderate player with GREAT MM than a GREAT player w/ moderate MM skills.....

All that being said, I spent YEARS perfecting my poker MM (Real Money acc.).... so this was something VERY easy to pick up on!

I then began to look @ the win/loss ratio on some of these strategies, and how this needed to affect my MM
(I still like to call it my "Bankroll" - poker term)

I began to notice I was having to put so much @ risk for each return, that your win ratios need to be VERY accurate to say the least! (+85%)

I then started to compare that to the Win/Loss ratios I was dealing with in poker..... I will keep from boring you all with the details but suffice to say....

"Show me a poker table that gives me a consistent +85% winning and I'll show you the last day I ever work!"

That was the last realization to finally start feeling like the lower TF's are not for me after all....
(ME IMHO, others on here (FF) pay the bills from M1 M5 M15 charts... to each their own. Nothing but respect for ya'll)






I guess all of that was just a long winded way to say that I have moved on to higher TFs and a system that trades MUCH less often w/ a higher return, and lower, less often risk..... Is that not what we all are looking for? LOL!

I have spent the last 5-6 months in the LGTJ Weekly Trend Trading Thread here..

http://www.forexfactory.com/showthread.php?t=203334

This was the beginning of my “Mid Term/Long Term” intervention. In a sense, weaning myself off of the M5-M15 “Crack” charts as I call them now...

I cannot thank Lg enough (although I'm sure he would tell you I have!) for opening my eyes to a calm, smooth, Daily and Weekly chart.

In the good nature of all things (progression), while practicing and learning the Lg method, I was also trying things of my own on these TF's.

Many Ideas, Templates, Indis, and OTHER system manuals..... trying to find a common factor in them all.

A few of the most common ones I found were...

“Let the trade come to you” (Meaning - Buy/Sell Stops)

“I don't spend ALL day watching charts!” (Meaning - Bigger TF's)

“Stick to the system!” (Meaning - stay committed to predetermined TP/SL's and Entry/Exit rules)

Now fast-forward a few more months of Back/Forward testing and I am here....

With what I have loosely dubbed “The Bottom-Less Pipshake!”

* Recommended before reading this journal is to watch “There Will Be Blood” w/ Danial Day Lewis

(at least look up some youtube clips)

I would say 75-90% of my humor in this system is based off that movie and its amazing one-liners!
So I recommend checking it out if some of the “jokes” are not as funny to you as to others....

Enough about me and my favorite movie....

Lets see what this so-called “Pipshake” is all about huh?

Some, if not ALL of these indicators, will more than likely look kinda familiar to you. (Depending on how many threads you browse)

If they DO, then GREAT! This gives you an edge over having to get accustom and adjusted to the indicators.

It is however a VERY simple system, K.I.S.S. To the EXTREME! (IMHO)

The layout consists of 5 indis (3 of which are the same indi, different settings and tweeks.)

-2MA Crossover
-Heiken_Ashi_Smoothed
-FXPrime_v2 Final JE
-FXPrime_v2 Final 10
-!FXPrime_v2

Aside from here these can all be found elsewhere here on FF.

This is just how I chose to arrange and use the indicators. If you do choose to look at or try any of these ideas and set-ups, I encourage you to play w/ the settings to find what works best for you.

I believe it will only take a quick look at the provided set-up pics to understand the basic Entry/Exit rules. I've worked hard to find a way to make these as mechanical as possible, while still reliable.

THE VERY BASICS OF IT....
The entries are only Buy/Sell Stops placed 15-25 pips above/below the signal candle.

If any part of the signal is dropped before the Stop Order is placed, the order is cancled.

If position is not cut early for profit and Hard TP level not hit, close position when bottom FXPrime filter closes w/o color.


The only other thing not provided here is the recognition and usage of S/R, Pivots and Average Ranges in pairs. These topics and how I handle them will be covered as I go along.

Enjoy guys, and spend the down time this weekend going over some tests with it. I believe you will find that while it trades very seldom, they are very solid trades when they do come around.

Let me know what you all think as well, I am curious to see and hear how this compares to whatever system you are using at the moment.

And thanks again to the whole FF admin and community, I literally could not have done this w/o YOU!

I believe that this will be enough to let anybody know if they would like to try this method.

There are some other elements to this that I will eventually cover..... but i'm not in too big of a rush with a closed market...

If anyone has any questions let me know... otherwise, I will update when we get some market movement and something worth talking about!

Thank you for your time guys!

Heres a few screen shots so you don't have to D/L the .zip to get a preview.

Thanks again guys!

Nice work mrezoot and very impressive. I'll be following along. What time frame are those charts and currency pairs?

So good to see you stopped by to check it out!

All of those screen shots are of the EURUSD, the first 3 are daily, and the last pic is of the Weekly.

I must admit that I would have never started working on any type of strategy this long term if not for YOUR thread.

One that remained so easy to understand and follow.

Good to have you looking around LG and hope that sometime soon you will be able to contribute, if/when you see it necessary.

I noticed that I did not say much about the actual signals....

This system is based around the candles close. If it does not CLOSE in that position... I care not what it DID.

So you will have to wait until each close to decide if the signal is valid or not.

A valid buy is signaled by:
Heiken_Ashi_Smoothed is BLUE
2MA crossover Arrow is BLUE
ALL 3 FXPrime Filter close BLUE

Buy Stop is then placed 15-25 pips above the signal candle that gave us the FINAL confirming piece.

This is all obviously reversed for Sells w RED meeting the conditions.

Quite often there will be several bars between the FIRST piece of the signal and the LAST piece confirming it valid now. As you can see in the first two examples in post #4.. well all of them actually have a little delay.

Each pair will have their own optimal TP levels, this expectancy level will come with some time familiarizing yourself w/ each pair you trade.

Hope this makes it just a little clearer exactly what is going on in the pics... :nerd:

Thanks again for your interest guys!

Also as an F.Y.I.

I'm pretty particular in naming my images, so if you are ever in doubt what the chart is your looking at,
and it's MINE,
simply hover your mouse over the attachment pic and it will give all the basic info in the images' name and description.

I do this for organizational reason on my terminal comp, so if you know that, you can use it to your advantage and will always know MY charts.

Just a heads up..... :nerd:

Is there any reason to use one and the same indicator under three different names? I compared the three versions of FX Prime and found out that it is the same indicator, just with different settings...

And if to look what is included in these three indicators then it is quite a mess... You have RSI 8, RSI 12, RSI 14,CCI 9, CCI 27, CCI 45, CCI 50, CCI 170, Stoch 5,3,3, Stoch 8,3,3, ADX 14, ADX 20, EMA 21, EMA 34...
Isn't it too much?

At first glance these indis are very overwhelming and cluttered.

The best way I found to get a feel for what these are telling you, is to just change most of the settings to False (Check ADX, Check RSI, Check EMA)

One @ a time change them to True to see what its doing, not saying that you already might have....
But this lets you see how each of the elements filter each other.

Spent quite a while playing w/ these settings, and they work for me.
And yes, some might say that this is too much...

However I am not looking to make trades everyday, or everyweek for that matter.

I diversify in testing this system over many currencies, CFD's, and metals.

So the fact that the indis seldom align is quite ok to me....

It could also be called "over-indicating" by some, I would rather have the confirmation.

I am very glad to see you gave it a look and your opinion Indrek, Thank you!

I will try my best to explain what and why I do things here....

As for my indi settings, I recommend playing around w/ them and deducing what works for you and your preferred timeframe.

The template that I provided is merely what "I" trade, try to find something that "YOU" like!

I also have had a few people ask about the "Blocks" in my bottom filters. Load my provided template and zoom ALL THE WAY IN! If you are zoomed to far out they will just appear to be a solid thick line. I think this is what you guys were talking about.....

Thank you again for your questions and support guys!

Talk to you soon...

All of these settings are what it is using to filter and cross-reference.

If all of the options were "True" each one of these indis would be the equivalent of having agreeing RSI, CCI, Stoch, and ADX.

Just wanted to word it like that, since its kind of a personal choice of what you have filtering.

If anybody would like to do some weekend reading, give light to where these FXPrime indis came from, check this thread out...

http://www.forexfactory.com/showthread.php?t=134759

This is using the indi on much smaller TF's, but it will explain it a little better.

Something for those of you who like to do some of your own research. :nerd:

Just found this and could not resist sharing....

Man I really hope somebody else has seen this movie to appreciate these one-liners and quotes!

http://www.soundboard.com/sb/daniel_plainview_clip.aspx

I'm sure that we can all relate to some of the context.... now and again.

Hi Mrezoot

I just wandered over here to see what you are up to after you posted on my journal. Neat stuff you have going on here. One of the reasons for the new computer for me is so I can leave it running with long term plays going. I couldn't do this with my lap top, which I use for my business. So as a result all my trading has been short term.

I have two differnt long term systems I use and will be posting some of those trades as they come up.

I will be keeping an eye on your journal as well.

Rufus

Thanks for swingin by Rufus!

For sure, look forward to any long term strategies that you have going on.

I have been there a well, physical limitations (Comp Specs) to my systems.

You'll wonder now how you ever went w/o it!

And thanks again for swinging through!

Oh man! ROFL!!

With the 3 FXPrime indis, you have a choice of how you choose to see the signals. As each one of them is slightly different visually. (Block, Dots)

Personally I prefer the blocks, so I am posting my updated daily template.

I'll put up my weekly when I get around to it....

This template only uses 3 instances of the !FXPrime_v2 as opposed to the 3 different FXs'

I will state though that this template is using the SAME settings, just w/ a more "uniform" look.

Market movement will be coming around soon so we'll see if we have any set-ups forming this week.... :nerd:

Here is one on the GBP/USD that got picked up at the end of last week and carried off....

We'll see how far it goes....

Very interested in this system. Using your latest template, I am showing an entry for GBP/USD that is 2 days earlier. What broker are you using for your charting?

With the Beta template (Post #17), the TOP FXPrime filter is now the one to watch for potential exits.

These are what I had labled as "Worse Case" exits in my example pics.

When the TOP FXPrime closes w/o a color, it's probably time to hop out!