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Price Trap Eur/Usd 1 MIN

  • #781
  • Oct 28, 2011 7:00am Oct 28, 2011 7:00am
Quoting atgmer
Hi all,

Is this a valid 3 touches to form a trap?

http://img838.imageshack.us/img838/1...eu28102011.jpg

http://img838.imageshack.us/img838/1...eu28102011.jpg

no it isnt.

upper level not lining up correctly..
  • #782
  • Nov 3, 2011 10:44pm Nov 3, 2011 10:44pm
Yes to answer some PMs that I am getting. I am still trading this live, but leaving this thread for learning the method purely. I still trade with a decent amount of members which have been with me nearly the beginning.
Trade Like a Robot make money Like a Bank
  • #783
  • Edited Nov 8, 2011 1:10am Nov 7, 2011 5:04am | Edited Nov 8, 2011 1:10am
Edit: Sorry guys, I have decided to remove this script because it is not robust enough for general use. The reason I posted it was to allow the price levels to be displayed for ease of reading, but I have since found an old script that I have renamed TrapMeasure that I have uploaded in the next post that does the job much better and is more flexible in use. Apologies Raz for messing up your thread.

Original Post:
In response to a request by ZR in the Skype room today for a way to see the trap numbers in big letters, here is a script that I wrote for my own use that does the job.

ZR as with all these things, it is not an exact match for your request, but it does allow you to see the numbers more clearly.

This script has been written for my own personal use only so I have not made it robust, just good enough for my own purposes. If anyone finds it useful, then that is OK but I cannot guarantee its accuracy under all conditions - so don't rely on it for live trades. It's main use is simply to see the numbers for the trap for those with less than perfect vision and for me personally to calculate the lot size and target without having to do the mental arithmatic.

This is a script so it needs to go into the scripts folder.

The simplest way to use it is to have the navigator bar open, expand scripts and then drag and drop the script on the the bar that you want to be the first bar of the trap. The script then draws the trap starting at that bar and going the number of bars you set in the NumberOfBars property. If you enter a number larger than the number of bars available, (e.g.111) then it draws the trap starting at the drop bar to the bar before the currently forming bar.

The numbers for long and short trades are displayed at the top and bottom of the screen.

To make it simple to use, I suggest you edit the default values in the first 14 lines to suit the colours on you screen, account size and risk percentage to save you having to change these each time it is run.

Drag and drop mode only works properly for traps of minimum 11 bars. If you want to draw a partial trap as it is forming, then instead of dragging and dropping the script, just double click the script and enter the number of bars back from the currently forming bar that you want to go, so say you are 8 minutes into the trap, then double click the script, enter 8 as the NumberOfBars and you will get what you are looking for.


Edit: The number with the £ sign is for my own use and is the £ per pip value for the account size and risk percentage entered. I display this because I am using a spread betting broker so need to know the £pp rather than the lot size. Sorry for the inconvenience, you will just have to ignore it because I don't want to start changing the script every 5 minutes.
  • #784
  • Edited 9:15am Nov 7, 2011 6:42am | Edited 9:15am
This is the problem with personal scripts, there is always something that makes it unusable for general use. The first thing ZR pointed out within five minutes it that you can't delete it!

So here is a script to delete it.

Also ZR I have added a manual trap measure that will probably be more suited to your requirements - pity I didn't think of this first.

Once loaded, you double click the lines and move them to where you want the trap to be and it displays the numbers.

To remove this one you simply right click on the chart and select remove script.
Attached File(s)
File Type: mq4 zDeletePriceTrap.mq4   < 1 KB | 361 downloads
File Type: mq4 TrapMeasure.mq4   2 KB | 387 downloads
  • #785
  • Nov 7, 2011 6:52am Nov 7, 2011 6:52am
Quoting casey.fx
This is the problem with personal scripts, there is always something that makes it unusable for general use. The first thing ZR pointed out within five minutes it that you can't delete it!

So here is a script to delete it.

Also ZR I have added a manual trap measure that will probably be more suited to your requirements - pity I didn't think of this first.

Once loaded, you double click the lines and move them to where you want the trap to be and it displays the numbers.

To remove this one you simply right click on the chart and select...
Thank you very much Casey. I will try this out now.
  • #786
  • Nov 7, 2011 10:34am Nov 7, 2011 10:34am
why isnt anyone discussing any weaknesses of this system and how to improve it. i thought this is what threads are for.

its all good live trading on skype. but please discuss your findings here...for the benefit of everyone..
  • #787
  • Nov 7, 2011 8:04pm Nov 7, 2011 8:04pm
sometime great thread starter show us a system that are already finish, some KISS version, there is no need to improve, only trade it same the Author tell you.

many threads start this way but then come the EA people and the changer and improver, here a indie more and here a TF more for control and ...., and the system will never finish only confuse all and the people loosing the interest.

the Forum and all the threads are not for people to improve the number of posting, it is all for improve your trading, use the time to trade.

thanks very much Raz for this system

we trade the finish version of Price-trap-system to live a wonderful life

stress free trading of a KISS system

cheers



Quoting whatfx
why isnt anyone discussing any weaknesses of this system and how to improve it. i thought this is what threads are for.

its all good live trading on skype. but please discuss your findings here...for the benefit of everyone..
  • #788
  • Nov 8, 2011 3:47pm Nov 8, 2011 3:47pm
Hey guys,
Wonderful thread! Thank you Raz and everyone here for putting in the effort to help others. I wont waste time.
Started reading and on page 31 so got some posts to get through yet, but I want to start demo and I'm eager to learn this method. So learning to id the traps as I read.
I havent seen this addressed. and I hope I don't make a fool of myself, and apologize in advance if it has been.
Leaving aside all other aspects of the trap (higher tf s/r, major trend, time of day etc..) do you give much consideration to how long the range has been going on for? Like in this chart, price has been in pretty tight consolidation for quite some time. is the trap marked in yellow still valid for an entry (either way on breakout).
Thanks in advance and hope to see you in the Skype room soon.
Michael

Attached Image (click to enlarge)
Click to Enlarge Name: nov 8 2338.jpg Size: 93 KB
  • #789
  • Nov 9, 2011 12:39am Nov 9, 2011 12:39am
Quoting whatfx
why isnt anyone discussing any weaknesses of this system and how to improve it. i thought this is what threads are for.

its all good live trading on skype. but please discuss your findings here...for the benefit of everyone..

Whatfx: I do appreciate you being a good part of this thread, but after seeing that you have been bouncing all over to various methods I think the one bit advice I can give you is this:

The method works in the eyes of the user, but once it fails it never seems to amaze me everytime.... I get people left and right saying why dont we use Daily High or Daily Low? Why dont we use Montly Pivot? My answer has always been the same and consistent since day one. I personally dont mind criticism but however I have traded this for nearly 30 weeks straight and have never lost money. Becasuse you have had a bad stretch, it's easy to say we need to change it so it works better. But that is why you will never take that step closer to be a fully complete and confident trader.

I never said my method was the best and that it was easy by any means. But if you trade for a long period of time and it has done nothing but generate money for you, why change what is simple and working. So again I dont care if you want to continue this or even modify it to fit your own personal gratification, but looking for someone else to pop out the answer for you and you not yourself going for it says to me that you are hoping one day you find the 'holy grail'
Trade Like a Robot make money Like a Bank
  • #790
  • Nov 9, 2011 12:39am Nov 9, 2011 12:39am
Quoting MichaelSimon
Hey guys,
Wonderful thread! Thank you Raz and everyone here for putting in the effort to help others. I wont waste time.
Started reading and on page 31 so got some posts to get through yet, but I want to start demo and I'm eager to learn this method. So learning to id the traps as I read.
I havent seen this addressed. and I hope I don't make a fool of myself, and apologize in advance if it has been.
Leaving aside all other aspects of the trap (higher tf s/r, major trend, time of day etc..) do you give much consideration to how long the range has...

Nope I care not to consider anything but trap size, my TP and SL, and the rest is meaningless to me
Trade Like a Robot make money Like a Bank
  • #791
  • Nov 9, 2011 12:40am Nov 9, 2011 12:40am
Quoting punisher
sometime great thread starter show us a system that are already finish, some KISS version, there is no need to improve, only trade it same the Author tell you.

many threads start this way but then come the EA people and the changer and improver, here a indie more and here a TF more for control and ...., and the system will never finish only confuse all and the people loosing the interest.

the Forum and all the threads are not for people to improve the number of posting, it is all for improve your trading, use the time to trade.

[b]thanks very...

Thanks, and it gets easier and easier week after week. I have had some members in the Skype room now can swallow back to back losers, and still feel confident the money is still coming, and by the end of the week it always does.
Trade Like a Robot make money Like a Bank
  • #792
  • Nov 9, 2011 7:15pm Nov 9, 2011 7:15pm
Quoting punisher
sometime great thread starter show us a system that are already finish, some KISS version, there is no need to improve, only trade it same the Author tell you.

many threads start this way but then come the EA people and the changer and improver, here a indie more and here a TF more for control and ...., and the system will never finish only confuse all and the people loosing the interest.

the Forum and all the threads are not for people to improve the number of posting, it is all for improve your trading, use the time to trade.
WELL SAID!!!

A couple of days ago I decided that I'm not going to test any new systems because I have everything I need ("Price Trap" and "VQ Trading System") right now!

It is a great system! If it ain't broken - don't fix it!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #793
  • Nov 13, 2011 10:36am Nov 13, 2011 10:36am
Quoting raz
Whatfx: I do appreciate you being a good part of this thread, but after seeing that you have been bouncing all over to various methods I think the one bit advice I can give you is this:

The method works in the eyes of the user, but once it fails it never seems to amaze me everytime.... I get people left and right saying why dont we use Daily High or Daily Low? Why dont we use Montly Pivot? My answer has always been the same and consistent since day one. I personally dont mind criticism but however I have traded this for nearly 30 weeks straight...

raz

just to clarify matters i dont need to look for the holy grail. i use my own profitable trading systems that are highly profitable. already 34k up since march this year.....

i may not be the most experienced or mature person on ff, but i know how to make pips, and iam doing so consistently every week. my account statements dont lie. can easily show them to you if you wish.

i dont bounce from thread to thread, what i do is try to find the best systems here on ff so that i may add them to my own thread called ''best trading systems on forex factory'', a list that iam compiling. that is why you see me on many other threads, criticising and asking fundamental questions, albeit if some of them appear dumb. trying to find the best systems to add to my list. that is the only reason why i 'bounce' around as you state. otherwise iam already making good money with my own systems, i have no reason to look for the holy grail (which does not exist in my book).

btw i dont just trade currencies, most of my huge profits have actually come from trading gold and stocks. my success rate on gold trades have been phenomenal. i manage to get the trades right almost all of the times. and that is not boasting. the last time i had a losing trade on gold was about 6 weeks ago. if you come on the gold thread, you will see the trades i take.

as regards to using your system, i only used it briefly to test it out. have had mixed success with it. as iam far too busy using my own systems. however i do feel your system has potential.

in conclusion, iam afraid you are totally wrong about me. for some reason i thought you were far better than making judgements on people.

anyways, hope you make a success of your system in the long term.


all the best.
  • #794
  • Nov 13, 2011 3:50pm Nov 13, 2011 3:50pm
Quoting whatfx
raz

just to clarify matters i dont need to look for the holy grail. i use my own profitable trading systems that are highly profitable. already 34k up since march this year.....

i may not be the most experienced or mature person on ff, but i know how to make pips, and iam doing so consistently every week. my account statements dont lie. can easily show them to you if you wish.

i dont bounce from thread to thread, what i do is try to find the best systems here on ff so that i may add them to my own thread called ''best trading systems on forex...

Whatfx:
First of all I do apologize for pulling the claim to search for the 'holy grail.'

However I have stressed multiple times over and over that a method is never going to be 1 2 3, and then bam it works. That does not exist, every method must work for the user and take what they can adjust and make it better for him or her self. I have been trading for sometime, and have been on this forum for sometime. I only say this because I have seen so many people come and go and expect others to make things happen for them, if this does not apply to you then you shouldn't take any offense to it.

However displaying your current success in forex, having a 34k acct or a 100k acct, or even a 1 million dollar acct. Stating that you make money doing gold, or delivering pizzas does not build credentials in my opinion. It shows that you have something to prove to others. Having to express this does mean you took offense to what I said, and again I do apologize. Great you are successful, and most proud for you. I do have a lot of personal friends who are forex traders that make well over 25K per month, but they would never in a heartbeat state that on ff or even entertain how much they make. If this method does not work for you or anyone then by all means close and move on. However having a list of best forext methods on ff is strictly a biased opinion, because what works for one will not certainly work for others. It's like asking if swimming vs running is best workout.

The only thing I offered was to show a simple and yet consitent way to trade forex off of price action, but not only do I show the results I actually perform it live every night, and take the losses and wins as they develop. Not too many others traders out there can venture into that area, because it is so easy to talk about trades shortly after they have developed and mature. I am by no means trying to prove my worth, I know what I am capable of doing and making, and very comfortable with my personal finances in life and my lifestyle. Yet being on ff for many years now and seeing so many newb like actions, and the mutiple traders out there posting about how much they make and how much their acct bal. is has always shown one thing, you have something to prove. Well my suggestion do it for yourself and share if you want, but make sure that you are satisfied with your life and trading, and all is best to your success and trading.
Trade Like a Robot make money Like a Bank
  • #795
  • Nov 14, 2011 7:40pm Nov 14, 2011 7:40pm
Quoting raz
Whatfx:
First of all I do apologize for pulling the claim to search for the 'holy grail.'

However I have stressed multiple times over and over that a method is never going to be 1 2 3, and then bam it works. That does not exist, every method must work for the user and take what they can adjust and make it better for him or her self. I have been trading for sometime, and have been on this forum for sometime. I only say this because I have seen so many people come and go and expect others to make things happen for them, if this does not apply to...

well, i do like to tell people when iam making money ! thats just the way iam. if i had a million pound to start off with, i too could possibly make 25k a month just like your friends....

the reason i bought up how much i made is simply because of what you had stated earlier which implied iam a cowboy trader. i cannot be a cowboy trader if iam making money now can i ?
others may wanna be technically proficient, have huge credentials, but it means nothing to me if they cant make money. after all, that is why we are in forex, to make money right ?

credentials dont mean much to me iam afraid. iam here to make money nothing else. so as long as iam making money, i will be happy.

point made.

i will be in touch in the furture .....will keep you informed of my success and perhaps you could tell me then how well you have done yourself ?


anyways, leave you to it.
  • #796
  • Nov 16, 2011 12:44am Nov 16, 2011 12:44am
Hi Raz,
We used to trade the Raz Method together, nice to see you back on FF.
I have read the first 10 sites and its really a very good strategy, stay on the horse, i wish you good luck, i think u had the target to become a millionair with small steps in 5 years or so, i hope you can reach this goal even if it takes a little longer. In the end everybody has to find his own way but one thing for sure, consistency is key.

iTrader
consistency wins
  • #797
  • Nov 30, 2011 11:38am Nov 30, 2011 11:38am
Hi there, I have benn checking your method out with interest. Are you still on skpe - I could not locate you on it. May you give me instructions how to come to your skpe room. Cheers. --Also it would be nice if some persons following this method could post their daily set ups -- so to get a better feel of the system.
  • #798
  • Dec 1, 2011 4:35am Dec 1, 2011 4:35am
Currently still trying to understand the system,
Looks like a trap is forming on the EUR/USD.

http://i39.tinypic.com/oj4f9y.gif

I am here to learn so please comment when im totally wrong
  • #799
  • Dec 3, 2011 8:33pm Dec 3, 2011 8:33pm
I have been finding with some back testing and some live trades -- that this system is not doing too many 2 - 1 ratio returns. It seems it is more like 1.5 - 1 or even 1-1. This with the market being so up and down lately. Anyone also finding the same? Cheers.
  • #800
  • Dec 4, 2011 9:45am Dec 4, 2011 9:45am
as i stated in one of my earlier posts, my opinion is that the system on its own will not make you pips in the long run. you really need to enhance it to suit your style, add filters etc.
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