To keep trading, even when it gets hard.
ZIGZAG Indicator 56 replies
Zigzag indicator with pip count? 9 replies
ZigZag 2 replies
Zigzag 1 reply
Alert for zigzag? 1 reply
DislikedHi,
I agree with you. I have been trying out this system for some time. I also trade the 1H, because it's easier and has less false brakout. Though stressing, as you said, that good volatility is important.
Trading the GU at the moment, and the last trade was a loss, and I have a current one open, not going too well at the moment. But this system on the 1H is all about catching larger moves.
Regards
ArchieIgnored
DislikedHi Archie and Far East Man,
Could you please put up some 1 hour charts so we can see how the trades looked and how they ended.
For me- trading on a 5 min chart seems to work out well (still early days though), Just need to be patient and wait for London open.
And I trade with a R:R of 1:1 as opposed to using TM and a Trailing Stop.
Your thoughts would be appreciated.
Ignored
Disliked2) I guess, the trade will only be taken on the break of horizontal lines as per the strategy. Is it not right ? In you chart I don't see those horizontal ines.. are they moved to some other area as the price moving ahead ?Ignored
DislikedWhat was your initial R:R? It looks like the initial SL was about 90pips and the trade closed out with about 45pips. (For me a R:R of 1:1 takes the emotion out of it- makes it easier to trade)Ignored
DislikedHi Far East Man,
Were you only looking at a buy because the TM was blue i.e. trending up? or were you also looking to sell if it broke the low?Ignored
DislikedHi,
Thanks for your detailed reply.
My setting on the ZigZag is also 13,5,5.
I am also a % trader, so I am not too worried about the pip value just the risk> read your blog, I follow pretty much the same thing!!
I will continue to post my 5 min trade setups> time will tell how the week turns out> hopefully some +ve PIPS.
MIgnored
DislikedThank you MichaelSA & Far East Man,
Thanks you for your commitment to post your respective trades on this forum.
Far East Man, I looked at your blog - read your % risk strategy.. very impressive.. I read multiple time somewhere but never clearly understood. But your write-up is clear and makes lot of sense.. I like the concept - your rate of profits increases as your capital goes up... in the same way rate of losses decreases if the capital is dwindling..Ignored
DislikedBy the way, I attempted to use this strategy one time on H1 charts but somehow the set-up did not work. I never got the fixed horizontal lines that should pop up after 8.05 AM UK time.. Then I have not tried again .. but I will be following this thread to realize the potential of this strategy.
Hence I appreciate your trade updates on this forum.
Have a great pips week for both of you.Ignored
QuoteDislikedDid you get the indy from post#40? The one at post#1 doesn't draw lines. Make sure your indy is this one. It draws a line when either swing high or low is formed regardless of time. However, although those horizontal lines make it easier to comprehend the situation, those are not requirements for this system. You can use a normal zigzag indy without horizontal lines..
QuoteDislikedYou can find out what time the UK 8 am is in your local time here. So open your MT4 after UK 8 am, set your buy stop or sell stop order (or both) above or below the swing high or low (zigzag peak or valley) on your preferred chart (with a decent stop). Once the price breaks the peak or valley of zigzag, it's the same thing as the price breaking those horizontal lines. Make sure you add spread when you set a buy stop order..
QuoteDislikedYep, I'll keep posting my trade here. So you will see.
DislikedGood Morning Cprao & Far East Man,
Far East Man-is your chart a 1 hour chart? (it looks like it, but just checking)Ignored
DislikedGood Morning Cprao & Far East Man,
I agree- with Europe, UK and Canada all on holiday, today could be either very dull or very volatile.
Here are my trades for today (Chart GMT+2).
Swing high @ 1.5249
Buy @ 1.5254 (4pips spread + 1 pip), TP 1.5287, SL 1.5221 (Risk 33 pips)
Swing low @ 1.5222
Sell @ 1.5221, TP 1.5188, SL 1.5254 (Risk 33 pips)
Will post the outcome
Far East Man-is your chart a 1 hour chart? (it looks like it, but just checking)
MIgnored