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  • #881
  • Aug 31, 2011 10:12am Aug 31, 2011 10:12am
Quoting forexhard
2 consecutive bars closing below the buffer line.
forexhard, what if one of these two bars is really big, let's say 50+ pips? Do you wait for a possible pullback or enter the third bar immediately?
Gentlemen always play by the rules. If they can't, they change the rules.
  • #882
  • Aug 31, 2011 11:04am Aug 31, 2011 11:04am
Good question, I've been wondering the same thing. My gut instinct is to wait- What do you say FH?


Quoting Favorite
forexhard, what if one of these two bars is really big, let's say 50+ pips? Do you wait for a possible pullback or enter the third bar immediately?
  • #883
  • Aug 31, 2011 11:28am Aug 31, 2011 11:28am
Almost everytime, such big moves have a reasonable pullback, so I'll wait for the 1st candle into the opposite direction or a retracement into the same candle and place a pending order below/above. Else...wait next opportunity.
I don't say
  • #884
  • Aug 31, 2011 12:59pm Aug 31, 2011 12:59pm
sorry, got you :-)

Quoting forexhard
Nick, please point to 2 consecutive bars closing below the buffer line.
  • #885
  • Edited 11:34pm Aug 31, 2011 11:06pm | Edited 11:34pm
hello all,

spent all night reading this thread so a bit dazed right now.

let me see if I've got this currently live example right, using the squalou indi:

short if 2 M15 bars form below the box, possibly at 0830GMT......
Attached Image (click to enlarge)
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  • #886
  • Aug 31, 2011 11:33pm Aug 31, 2011 11:33pm
....no break, so we wait....
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  • #887
  • Aug 31, 2011 11:55pm Aug 31, 2011 11:55pm
Quoting cgldsmth
....let me see if I've got this currently live example right....short if 2 M15 bars *form* below the box
Welcome aboard! After reading the whole thread through in a setting I can understand how you could miss a nuance here or there. Meaning, that your statement which I've highlighed is not exactly correct. An important detail has been skewed in your description.

Anyone want to step in here and show what I mean?
To improve is to change. To perfect, is to change often.
  • #888
  • Sep 1, 2011 12:07am Sep 1, 2011 12:07am
Quoting forexhard
Welcome aboard! After reading the whole thread through in a setting I can understand how you could miss a nuance here or there. Meaning, that your statement which I've highlighed is not exactly correct. An important detail has been skewed in your description.

Anyone want to step in here and show what I mean?
hi FXhard,

I believe the rule to be that 2 bars must close below the buffer line before the entry is made

Super system. Simple to boot! I'll start testing post 11 sept.

Would it be possible, and more to point, do you think it is a good idea, somehow to incoprporate Steve Hopwood's caterpillar idea to add to a winning position?

Details of the catepillar can be found on:
http://www.forexfactory.com/showthread.php?t=309980 (http://www.forexfactory.com/showthread.php?t=309980)

see post 1

Regards
Nicastro
  • #889
  • Sep 1, 2011 12:11am Sep 1, 2011 12:11am
ok thanks.

so we now have a short EURUSD on 5min TF then.
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  • #890
  • Sep 1, 2011 12:15am Sep 1, 2011 12:15am
Quoting forexhard
Welcome aboard! After reading the whole thread through in a setting I can understand how you could miss a nuance here or there. Meaning, that your statement which I've highlighed is not exactly correct. An important detail has been skewed in your description.

Anyone want to step in here and show what I mean?
I also just finished reading the entire thread. Great job FH.
The rule is 2 CONSECUTIVE bars/candles must close outside the box. Then enter on the open of next bar/candle.
Barry
  • #891
  • Sep 1, 2011 12:25am Sep 1, 2011 12:25am
Quoting cgldsmth
ok thanks.

so we now have a short EURUSD on 5min TF then.
Yes but it seams the preferred TF is 15M
Barry
  • #892
  • Sep 1, 2011 12:27am Sep 1, 2011 12:27am
Two great short trades one on EURUSD and EURGBP, I took the EURGBP on a thirty minute chart 4 lots in at 8837 out at 8822...wanted to jump on the EURUSD trade. however I deal with a slow internet connection and didn't like my choice of entry at the time....
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp 30minboxbreakout.gif Size: 37 KB
Never been vouched
  • #893
  • Sep 1, 2011 12:34am Sep 1, 2011 12:34am
and now also on EURUSD M15, ....dumpage
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  • #894
  • Sep 1, 2011 12:36am Sep 1, 2011 12:36am
Here's the EU short on the 15M but I don't like how big the BO candle is so I'm going to wait for a retrace but it might be to late.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 29 KB
Barry
  • #895
  • Sep 1, 2011 12:44am Sep 1, 2011 12:44am
Quoting Bary
Here's the EU short on the 15M but I don't like how big the BO candle is so I'm going to wait for a retrace but it might be to late.
yeah my thoughts are that in a fast-moving market like London open then M5 will reduce the latency on these big candles

but interestingly, the sell price would have been identical on both time frames in this instance
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  • #896
  • Sep 1, 2011 12:47am Sep 1, 2011 12:47am
Quoting cgldsmth
yeah my thoughts are that in a fast-moving market like London open then M5 will reduce the latency on these big candles

but interestingly, the sell price would have been identical on both time frames in this instance
I like that idea, it would of been a nice trade on the 5m. Did you get in?
4337 on the 5m and 4315 on 15m
Barry
  • #897
  • Sep 1, 2011 1:08am Sep 1, 2011 1:08am
yes at 4320

I have to say I am still unsure about exits with this system...
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  • #898
  • Sep 1, 2011 1:17am Sep 1, 2011 1:17am
Quoting cgldsmth
yes at 4320

I have to say I am still unsure about exits with this system...
One option would be the fib targets drawn with SQ's indi (4306 then 4263 on my chart) or it's each traders choice. Either way nice trade.
Barry
  • #899
  • Sep 1, 2011 1:24am Sep 1, 2011 1:24am
short GU M15

basic money management with 1% risk and 1:1 R/R

stress-free trading this.

Just for perspective, I am fundamentally a long-term trend trader off weekly and daily charts (currently trailing very large floating profit), so this is all quite fun while I have some spare time on my hands. An EA would be great, but as you know the vast majority fail even with a good underlying strategy.

in this respect, Forexhard's entries may be a sound way to enter and scale-into a trend.
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  • #900
  • Sep 1, 2011 9:51am Sep 1, 2011 9:51am
Nicastro was the 1st to get it. I look for 2 candles to close outside the buffer line.

With a teaching thread there must be some standard benchmarks or else it gets too complicated and crazy, and no one can ever agree on anything. So for this reason I stick to mainly G/U M15 charts when I post here. But this does NOT limit you guys to experimenting with any other pair or TF you want to test on your own. In fact, I am hoping that you do. There are at least 4 pairs that work well with this system, anywhere from M1 to M30. So knock yourselves out and go find those sweet spots!

As for spike candles and false breakouts, etc: Here's the deal. Set your indis to 100 back days (the default setting), and then tweak the other general settings until you come up with 40 back boxes or less. So now you're looking at, say, 35 boxes over the last 100 days. Perfect. Now start with the very first back box and come forward, and count how many true reversals there are using my preferred 2-candle-close rule. In other words, come back and tell me how many times the price has reversed to the opposite side of the CZ after a 2-candle-close breakout. At the same time, if the breakout candle happens to be a spike (e.g., 15 pips or more on a single breakout bar), then come back and tell me if that trade reversed by 30 pips or more. Note: This test is to be performed only with G/U M15 so that everyone is on the same page.

I need at least 4 guys to post their results. This will give us a pretty clear average set of returns. When you post, be sure to tell us your settings, and how many back boxes you have, etc.
To improve is to change. To perfect, is to change often.
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