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  • #381
  • Jul 23, 2011 1:50am Jul 23, 2011 1:50am
Quoting squalou
i saw that too..... will fix it.
The pips counts are correct however.

Sq
Hey Squalou, thanks for the prompt response. i'm just trying to figure out all the filter settings, trying to get the best settings for different timeframes and see if i can get a good balance between quantity or quality. Mebbe i'll post up later with my findings. Thanks again.
You gotta know when to hold 'em, know when to fold 'em ...
  • #382
  • Jul 24, 2011 1:52pm Jul 24, 2011 1:52pm
Here's my findings on 15min and 1hr with various settings. Very interesting results. I'm just trying to find a good balance between quantity and quality. I'm just going with whatever gives the best average pips.

I also wonder if there's a way to automatically tabulate how many times price gets back to the breakoutbox after lets say it travels 20 , 30 or 50 pips away, or what's the percentage that price breakouts and then reverses and breakouts thru the other side of the box. Intriguing.

Cheers and thanks again to the ppl involved in creating this method and indi.
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You gotta know when to hold 'em, know when to fold 'em ...
  • #383
  • Jul 24, 2011 7:33pm Jul 24, 2011 7:33pm
is there a concensus on the best settings when using M15 chart?
  • #384
  • Jul 24, 2011 10:58pm Jul 24, 2011 10:58pm
Quote
I'm just trying to find a good balance between quantity and quality. I'm just going with whatever gives the best average pips.

Just a word of advice, ALWAYS go for quality over quantity.
  • #385
  • Jul 25, 2011 1:13am Jul 25, 2011 1:13am
Hi Guys,

Looking forward to testing this
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  • #386
  • Jul 25, 2011 8:04am Jul 25, 2011 8:04am
15min chart with indi set to 22/15/30, Autoboxrange=true and ADR30x0.2.

I wasn't around to trade this but a picture perfect example of a supply CZ breaking down and pivoting at a previous demand CZ.
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  • #387
  • Jul 27, 2011 1:16am Jul 27, 2011 1:16am
There's a perfect set-up forming on the EU M15...
Attached Image (click to enlarge)
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To improve is to change. To perfect, is to change often.
  • #388
  • Jul 27, 2011 1:36am Jul 27, 2011 1:36am
Quoting forexhard
There's a perfect set-up forming on the EU M15...
Hi FxH,

I'm in on this one too, nice strong breakout south
  • #389
  • Jul 27, 2011 1:52am Jul 27, 2011 1:52am
Quoting the-game
Hi FxH,

I'm in on this one too, nice strong breakout south
Not yet it's not. Simply going past the buffer line is not enough. Wait for at least 2 candles to close outside the buffer zone before you pick a direction.

FxH
To improve is to change. To perfect, is to change often.
  • #390
  • Jul 27, 2011 10:11am Jul 27, 2011 10:11am
It took 5 more bars to confirm direction. Entry on the red arrow, TP on the green.

Come on guys, speak up and tell us all your experiences. I am not a signal service. This is supposed to be a group effort. Who was following this same trade, and how did you trade it? Details, details!

FxH
Attached Image (click to enlarge)
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To improve is to change. To perfect, is to change often.
  • #391
  • Jul 27, 2011 11:00am Jul 27, 2011 11:00am
I was following as well. However, by the time I saw it, PA was retracing from the 1. 4432 Fib area and I was of the opinion that I had missed out on the move. I decided to wait for a retrace to the CZ and a new BO, or for a new CZ to form. This decision under the theory that there will always be another trade to come along.

I would appreciate your comments on my thinking.
Attached Image (click to enlarge)
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  • #392
  • Jul 27, 2011 11:01am Jul 27, 2011 11:01am
Quoting forexhard
It took 5 more bars to confirm direction. Entry on the red arrow, TP on the green.

Come on guys, speak up and tell us all your experiences. I am not a signal service. This is supposed to be a group effort. Who was following this same trade, and how did you trade it? Details, details!

FxH
Thanks FxH, i took this too and trailing behind the swings, although now at yesterday's demand CZ so will bail soon. I placed the initial stoploss at the top of the blue box (below the buy buffer), where did you place your initial stop and why did you exit when you did?
  • #393
  • Jul 27, 2011 11:06am Jul 27, 2011 11:06am
Anyone else noticing this perfect arc? Price has retraced precisely to within the CZ from 2 days ago, and then stalled. We are being primed for another breakout from the very same zone as before, just 48 hours later.
Attached Image (click to enlarge)
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To improve is to change. To perfect, is to change often.
  • #394
  • Jul 27, 2011 11:11am Jul 27, 2011 11:11am
This way (method) of trading can be traded using no indicators as I believe forexhard stated early on in the thread, but the indicator that has been kindly provided is no doubt a help in spotting these breakouts. forexhard just posted a very nice example of how you have to be patient & allow the trade direction to be defined before entering. This is trading price action in a pure & simple form.

It is good to see forexhard rejoining his thread, but as he said this is NOT a signal service. He is providing a way to trade price action with a clutter free chart.

__________________________________
  • #395
  • Jul 27, 2011 11:15am Jul 27, 2011 11:15am
forexhard,

I agree & am standing by for the move. It is amazing how price returns to these areas (cz's). Nice arc you posted.

______________________
  • #396
  • Jul 27, 2011 11:30am Jul 27, 2011 11:30am
Quoting Tpc23
I was following as well. However, by the time I saw it, PA was retracing from the 1. 4432 Fib area and I was of the opinion that I had missed out on the move. I decided to wait for a retrace to the CZ and a new BO, or for a new CZ to form. This decision under the theory that there will always be another trade to come along.

I would appreciate your comments on my thinking.
Thanks for stepping into the discussion.

Your post brings up two key points for me. Both are extremely important, so I don't dare try to rate one above the other; they are both worth having tattoed on our foreheads:

The first is to always remember that there is no sense in jumping onto the train once it has left the station. The moment we give into the feeling that we "must" hit that button because we are "losing out", we have lost. Even if we win pips, we have still lost. We have lost a little bit of ourselves in the mix. We lose our sense of perspective, and maybe even a little bit of our dignity. And it doesn't take long to forget our trading rules altogether and go right back to trading purely by our emotions.

The second is about your Fib targets. It is my opinion that we can never -- n.e.v.e.r. -- know which way price will go. Sure, we know it can only go one of 3 ways, and because of the CZ we are eliminating one of those 3 (sideways), so that leaves just 2. But we still don't know, not even when it's just a 50-50 coin toss. So if we don't know which way it will go in the first place, how is it that we think we can predict what it will do once it has picked the direction we didn't predict it would take? I know that some people swear by them, but it just doesn't make sense to me. To each their own. In my opinion Fib lines are no different than RSI or Stochs. They can be right, but are they always? I think we all know the honest answer to that one. The only thing I do know with 100% certainty, is that I know nothing. Once I came to terms with that reality the whole trading world opened up for me and my win rate tripled.
To improve is to change. To perfect, is to change often.
  • #397
  • Jul 27, 2011 11:33am Jul 27, 2011 11:33am
Hi Folks!

I have been following the threads and demoing the method. I like the idea of waiting for the 2nd candle close outside the buffer area. Here is a nice short live trade I took on the EURGBP a while ago. In profit with a trailing stop now.

Thanks FOREXHARD and everyone else who has been contributing.

SirWolf
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Believe and Achieve!
  • #398
  • Jul 27, 2011 11:38am Jul 27, 2011 11:38am
Quoting forexhard
Thanks for stepping into the discussion.
snip ...
In my opinion Fib lines are no different than RSI or Stochs.
snip ....
Fibs tend to be self-fulfilling, up to a point of course. which is why IMHO they should be treated differently to something variable like RSI or Stochs

that is my experience from manual trading

Best of luck with your thread
  • #399
  • Jul 27, 2011 11:47am Jul 27, 2011 11:47am
Quoting forexhard
Thanks for stepping into the discussion.

They can be right, but are they always?

It appears to me that Fibs are self fulfilling, as was pointed out above. Because so many traders pay attention to them, and so many orders are placed around them, the PA seems to stall there and retrace, or regroup and continue.

As a newb, they provide some guidance for me. It helps me visualize what I expect more experienced traders are doing, or may do.

I find this thread and Breakout analysis to be extremely valuable. The fibs, although not part of FxH system, are helpful to me.
  • #400
  • Jul 27, 2011 12:04pm Jul 27, 2011 12:04pm
Quoting Tpc23
It appears to me that Fibs are self fulfilling, as was pointed out above. Because so many traders pay attention to them, and so many orders are placed around them, the PA seems to stall there and retrace, or regroup and continue.

As a newb, they provide some guidance for me. It helps me visualize what I expect more experienced traders are doing, or may do.

I find this thread and Breakout analysis to be extremely valuable. The fibs, although not part of FxH system, are helpful to me.
First of all, if you think that we bucket shop traders are creating any bias in the market you are sadly mistaken. It's just not possible. If you really understood how massive the FX market really is you would understand this fact for yourself. At best we are like the tiniest flea riding the back of the biggest elephant. He just doesn't know we exist, and even if he did he wouldn't care. It wouldn't cause him to do even one thing differently.

Second, in your post you said "maybe" over and over, which I have bolded. So Fibs give you a whole lot of "maybe" results. That's just not something I need to spend my time worrying about, so I choose not to. I don't want "maybe" help with "maybe" targets. Only fixed help with fixed targets, if you don't mind.

Should Fib proponents ever provide a proven guranteed method then I will begin to pay more attention. But 'seems to', 'maybe', 'sometimes', 'may', and 'appears to' just doesn't do anything for me at all.
To improve is to change. To perfect, is to change often.
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