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profitable Zigzag

  • #221
  • Apr 13, 2010 8:00am Apr 13, 2010 8:00am
All position closed by sl. But day was good enough with some nice % gain.
  • #222
  • Edited 10:00am Apr 13, 2010 9:07am | Edited 10:00am
You guys going well it seems Ive been looking slightly differently Im trying to narrow down the profitable trades whilst cutting back on draw down

My ZZ is set to 353 gives smaller zigzags and coupled with TM better entry

3 charts below 1 shows trades on the 1hour EURUSD 2nd chart a more detailed explanation of the set up..the 3rd chart 'where we are now'

If the trade doesnt go our way when we hit an important technical point we close at zero.If it goes we use TM to give us some good pips.

On the 1hour chart since 26th march ( 15 trading days ) only 5 signals but results are good

+120+0+0+95+225 a gain of roughly 30 pips a trading day but gained over 5 trades and now waiting for a short

The set up shown on 2nd chart

a. TM goes from blue to red so we are looking for longs
b. Price breaks the last fixed high at b
c. The price touches the TM line ( this can be set as a lmt buy)
d. When price reaches this green line which is last ZZ high we move stop to break even as it could reverse here
e.f.g.h all stops moves with TM we get taken out at h.


The 3rd chart

a.TM red we are looking for shorts
b. Price breaks last fixed ZZ low
c. We wait for rally and a touch of the TM for a short entry.

Cheers

Paulus
Attached Image(s) (click to enlarge)
Click to Enlarge Name: zz mk 3.gif Size: 41 KB
Click to Enlarge Name: zz1 mk 3.gif Size: 29 KB
Click to Enlarge Name: zz2 mk 3.gif Size: 26 KB
  • #223
  • Apr 13, 2010 9:23am Apr 13, 2010 9:23am
Quoting Paulus
You guys going well it seems Ive been looking slightly differently Im trying to narrow down the profitable trades whilst cutting back on draw down


Paulus
Glad you are back.

Where do you place the initial stop, below/above TM or below/above last swing?
Regards
  • #224
  • Apr 13, 2010 9:35am Apr 13, 2010 9:35am
of late 1pip above below swing hi lo

cheers

P
  • #225
  • Apr 13, 2010 9:43am Apr 13, 2010 9:43am
Quoting Paulus
of late 1pip above below swing hi lo

cheers

P
Thanks

what are your ZZ settings on 1hr? They are not 13-5-5 as on 5min.
Regards
  • #226
  • Apr 13, 2010 9:59am Apr 13, 2010 9:59am
good point should of mentioned will alter my post they are on the 353 setting to get a smaller ZZ and better entry as Im using TM for direction and trigger

P
  • #227
  • Apr 13, 2010 12:47pm Apr 13, 2010 12:47pm
Quoting Paulus
good point should of mentioned will alter my post they are on the 353 setting to get a smaller ZZ and better entry as Im using TM for direction and trigger

P
Hi Paulus,

May i ask? From your examples i understand that you trade touch trades on TM for direction, or waiting for some candle confirmation?
Thank you in advance!
  • #228
  • Apr 13, 2010 1:54pm Apr 13, 2010 1:54pm
no just the touch but abc in the setup has to fall in place currently short from
1.36.12

P
Attached Image (click to enlarge)
Click to Enlarge Name: zz4 mk 3.gif Size: 24 KB
  • #229
  • Apr 13, 2010 10:00pm Apr 13, 2010 10:00pm
The above trade failed ..the trade had to be closed out as TM went blue indicating I will be looking for longs

the loss was only a few pips
Paulus
  • #230
  • Apr 13, 2010 10:53pm Apr 13, 2010 10:53pm
Quoting Paulus
The above trade failed ..the trade had to be closed out as TM went blue indicating I will be looking for longs

the loss was only a few pips
Paulus
That's because you kept it tight.
  • #231
  • Apr 14, 2010 11:39am Apr 14, 2010 11:39am
m30 chart ..lets see tomorrow.. i have sell stop
Attached Image (click to enlarge)
Click to Enlarge Name: audbtf.jpg Size: 70 KB
  • #232
  • Apr 14, 2010 11:59am Apr 14, 2010 11:59am
Hey Paulus, do you still prefer 8AM to 8PM UK time?
You are in a maze of twisty little passages, all alike.
  • #233
  • Apr 15, 2010 2:17am Apr 15, 2010 2:17am
yes Not enough volatilty in the asian session

Big players are gone little moves come in..some times I look and see a real nice move but there few and far between

P
  • #234
  • Apr 15, 2010 1:37pm Apr 15, 2010 1:37pm
usdcad m30 butterfly
sell stop in place
  • #235
  • Apr 24, 2010 12:07am Apr 24, 2010 12:07am
h4 eurgbp you saw what happened.. i expect rebound at least to 8865

someone asked: when will be the end of the beak.. just find a support
  • #236
  • Apr 30, 2010 12:40am Apr 30, 2010 12:40am
somebody asked how i dertermine turning point..

here is very good article to understand ABCD
http://www.fx360.com/commentary/roge...=1272612809219
  • #237
  • May 2, 2010 1:23am May 2, 2010 1:23am
Quoting mistersimple
somebody asked how i dertermine turning point..

here is very good article to understand ABCD
http://www.fx360.com/commentary/roge...=1272612809219
hi mistersimple

thank you for ABCD link,it is very useful.if you have other ABCD or butterfly or harmony datas,please give us the link. i learn a lot from the WWW.forex-tsd.com.but i also think it is not enough,so i need your help.thank you

yourspace
  • #238
  • May 2, 2010 2:25am May 2, 2010 2:25am
i dont know much more .. just take a look at forum of http://www.tradingarsenal.com/

fx360.com = very good site.. trades based on geometrical patterns..

and here for people wanna do research

http://forum.wave59.com/idealbb/view...AB6C17161ACF2D

(i never tried wave59..)

in older posts i said.. u can use korharmonics or zup indicators...
  • #239
  • May 4, 2010 7:43am May 4, 2010 7:43am
Quoting mistersimple
i dont know much more .. just take a look at forum of http://www.tradingarsenal.com/

fx360.com = very good site.. trades based on geometrical patterns..

and here for people wanna do research

http://forum.wave59.com/idealbb/view...AB6C17161ACF2D

(i never tried wave59..)

in older posts i said.. u can use korharmonics or zup indicators...
hi mistersimple

do you still use korharmonics or zup indictors? i use them,but i find i can not get accuracy enty.maybe other indicators can filter false signal.i hope you can give me some advices.

yourspace
  • #240
  • Edited 10:40am May 4, 2010 9:52am | Edited 10:40am
what timeframe do u use?

the best way is to see how "they" do it..

here and here
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