Extracted Thread (per thread starter's request)

And I'll drive you!

Morning all,

8 CZ's this morning. I really dont want to be trading all of them but euraud and eurnzd look tasty, as does audchf.

could be a very busy few hours

Forexhard,

I salute you! Just recently joined FF though I'm not new in financial markets and skipped through tens of threads (quite amusing, have to say, lol) and so called trading systems until I saw your thread. Just had to say hello and really appreciate what you do here - actually sharing the method of trading, or to be more precise, the method to exploit human psychology / emotions / behavior. Once again, thank you and keep up the good work!

E/AUD even triggered my filters. E/NZD, not so much.

I'm guessing the market is looking to the LTRO figures before making any major moves re Euro.

Hiya All,

What sort of exit strategy are people using on this system ?

Trying to use a 2/1 but not having as much joy as i thought with it, alot of the time doing well for profit target then reverses for b/e

Thanks

My first TP is 50 pips on most pairs 30 on eurgbp.

Hiya,

I was doing a similiar thing yesterday, but I dont know if my stop was large enough.

20 stop for 40 profit target, had some good trades, but last night had a run of losses.

Hi Andyvxr

I personally was going to breakeven after 15 to 20 pips and then trailing, but I am currently setting a fixed TP of 30 and placing my stop at the back of the CZ. I do nothing until one gets hit.

So I’m trusting in the CZ I’ve selected based on my settings and the continued breakout going in my favour after an entry, even if this takes a while.

This is based purely on the basis that we are unable to predict which way price will go, but the CZ has given us an edge in the fact that we expect a breakout in one direction or the other from it.

I read on the thread that "FH" and "mer" are using a modified martingale strategy to enter up to 4 times in opposing directions from the initial signal of a fresh CZ if price goes against them, but yet haven’t worked it out, let’s say it’s a work in progress, but if you or anyone else wants to discuss this and the merits of it then I’d be happy to contribute.

So what I am trying is that I would enter in the opposite direction from a reversal signal of the CZ, but Martingale normally means double the position on each switch, which would mean that if you went to 4 full reversals of a CZ then you would be trading 8 positions, which seems a bit excessive unless you start off with an extremely small position size to start with in anticipation of having a few losers.

Ive tried this before in the past and it was pretty sucessful, just gets annoying if your winning all the time....


Cheers


ab

Hiya ab,

Yes im now mixing it up alittle.

I have placed my stop on the backedge like yourself, i am also going with a target price that each box gives.

ie. 14p x 62 on cadchf for example.

Hiya,

Did you get my private ab ?

Yep

Responded

Frustrating day so far. Hope things start moving after London close, I've been getting distracted by the drying paint.

Currently sitting on booked losses of just under 1%, active trades currently just over 1% down, but these CZ's are still in play.

Hi Hx

Yep me too, down on USDCHF and AU, but looking to maybe get in again, waiting to see what happens, just a tough day no follow through, maybe my CZ's just sucked and wernt really that good and need refining or maybe just a few losers which are expected

Hiya Guys,

I will join you on the loss front for today, not much, but still, no one likes these days.

Been very choppy on everything, even ftse100 and gold.

I believe we are building up for collapse for definite

Hi all

Same here.

Had one loss on GU. Then entered @ break of E/AUD CZ. Its up 18pips so far.

Regards
A.

2 CZs in oil

I took out the 1.272 in both directions. I don't use the 1.323 or 2.681. I use the 1.272 and 3.333.

End of day.

Ridiculous !

Cadchf look at that chart 15 minute, entered long and lost 34 pips, straight up and down stitch up lol

Interesting last half an hour, still being patient, held off the urge to cut losses.... and now back in profit again. It's a stubborn bugger this market sometimes.

Yep on reflection I got taken out of USDCHF short because I didnt add spread to the stop and guess what ....... price retraces back to the top of the CZ, ie previous res, top of the consolidation and drops like a brick, nothing new there...Im an idiot, and would still be in and nearly at my TP...easy to say after the event but worth remembering in the furture to add spread to the CZ