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  • #2,341
  • Apr 23, 2012 10:32am Apr 23, 2012 10:32am
Welcome to Stairsteps, Daz. Let us know how your testing goes. Be sure to post some trading pix...

Since I am a teacher in real life, I know the feeling of bringing a student to a point of self-realization and self-reliance. No real teacher ever wishes that their students remain with them forever. This idea that once a person starts posting inside a particular thread, that they must never stop or the thread is considered "dead"...this is a concept unique to online forums, especially around here.

But it couldn't be further from the truth.

The more people that "get" Stairsteps and then move on with their lives as successful traders, the better job I know I have done as their mentor.
To improve is to change. To perfect, is to change often.
  • #2,342
  • Apr 23, 2012 10:56am Apr 23, 2012 10:56am
Quoting forexhard
Welcome to Stairsteps, Daz. Let us know how your testing goes. Be sure to post some trading pix...

Since I am a teacher in real life, I know the feeling of bringing a student to a point of self-realization and self-reliance. No real teacher ever wishes that their students remain with them forever. This idea that once a person starts posting inside a particular thread, that they must never stop or the thread is considered "dead"...this is a concept unique to online forums, especially around here.

But it couldn't be further from the truth....
For sure. I was just curious to know how past traders were faring. It would be nice to know they are still benefiting from your Stairsteps. I will make my own observations anyhow, it's the best way afterall. For me a system is not an indicator on the chart, that is the edge or idea if you like. The system is the trader and how he or she applies it within their own discipline, I'm sure that's been said here already. Anyway, I have some boxes to configure. Less is more eh? Lol.

Daz.
Keep smiling
  • #2,343
  • Apr 23, 2012 1:31pm Apr 23, 2012 1:31pm
Quoting Misterdaz
For sure. I was just curious to know how past traders were faring. It would be nice to know they are still benefiting from your Stairsteps. I will make my own observations anyhow, it's the best way afterall. For me a system is not an indicator on the chart, that is the edge or idea if you like. The system is the trader and how he or she applies it within their own discipline, I'm sure that's been said here already. Anyway, I have some boxes to configure. Less is more eh? Lol.

Daz.
Yes, less is definitely "more". By now I don't even look at CZ's that are over 25p tall. Many pix I post here have much looser parameters than I use myself, because I realize most posters haven't yet reached the same realization as I have. Most noobs are stuck on the idea of being "always in", so their CZ parameters are set where they can see a dozen CZ's on their screens. Me, I'm OK with only 2 or 3. When they do get "there" is basically when they stop posting in here, and I'm very OK with that.

RE those other members, just send them a polite PM and ask how they're doing. Just don't commit the cardinal sin of asking for templates or other misc. settings, and I'm sure most of them will respond.
To improve is to change. To perfect, is to change often.
  • #2,344
  • Apr 23, 2012 2:00pm Apr 23, 2012 2:00pm
Yes FH I have paid attention to your "hints". I'm already looking at boxes that are 30 candles in length. I have also setup a template for analysing other ccy pairs, gleaned from a very helpful earlier post of yours. I see the value in the longer lasting zones. It's like winding up a spring, the more turns, the bigger or better the reaction. In essence you appear to be identifying periods of consolidation and or distribution after markup or markdown. Nothing new but your approach is quite elegant. I've never looked at it like this before.

Nice work sir.

Daz.
Keep smiling
  • #2,345
  • Apr 23, 2012 3:16pm Apr 23, 2012 3:16pm
Just had a quick look at cable. This is how I see it at the moment. No boxes but price came down and rejected a previous CZ area. Traders who missed the buy op last time getting in on the pullback. These boxes quite nicely identify areas of strong support and resistance I see. Saves me drawing some lines lol.

Attached Image (click to enlarge)
Click to Enlarge Name: cable M15 box.JPG Size: 61 KB


Daz.
Keep smiling
  • #2,346
  • Apr 23, 2012 4:51pm Apr 23, 2012 4:51pm
Hey Daz, you're about the 5th person from the UK to join us in the last 2 weeks. And you all seem to be quick studies, too. Was Stairsteps recently mentioned in a UK forex forum or something?
To improve is to change. To perfect, is to change often.
  • #2,347
  • Apr 23, 2012 5:19pm Apr 23, 2012 5:19pm
Quoting forexhard
Hey Daz, you're about the 5th person from the UK to join us in the last 2 weeks. And you all seem to be quick studies, too. Was Stairsteps recently mentioned in a UK forex forum or something?
No this has not been mentioned in other forums that I am aware of. No one told me either. I have spent my last 3 years or so studying Skunny's fibs. I rarely look outside of that thread. Just so happened I was havng a mooch around the other day and I had a look at a couple of other threads but yours caught my fancy. I have about 6 years experience with FX and technical indicators plus I noticed a few posts where you berated posters for not doing their homework so I kinda came prepared hahahaha.

Anyway Brit dudes are smarter than yanks that's probably why

If that's you in that avatar then I'm just kidding lol.

Daz.
Keep smiling
  • #2,348
  • Apr 23, 2012 6:28pm Apr 23, 2012 6:28pm
Quoting Misterdaz
....Anyway Brit dudes are smarter than yanks that's...
Yes, it's really me. So I'll take pity on you. You are forgiven.
To improve is to change. To perfect, is to change often.
  • #2,349
  • Apr 23, 2012 9:41pm Apr 23, 2012 9:41pm
Here is the first cut of the EA. I had to modify the indicator a little bit to get it to work the way I wanted but in general I did not make any major changes to the indi. I have been testing it for the last week or so and it seems to be working.

I took a lot of code from my own library so the code is pretty messy but it works. I will eventually do a clean up of the code.

One bug that I know about and would be great if someone can fix it is that when I run the ea I do not see the breakout lines drawn. The trades happen at the right places but it does not show on the charts. I had to run the EA and the indicator on the same graph to see it.

new params:
initial_sl => stop loss pips to set for the new trade
take_profit => take profit pips to set for the new trade
MaxProfitTradesPerBox => stop trading after these number of profits
_max_live_trades => maximum number of live trades for the account. It will not create a new trade if you already have x live trades for the account.
min_lots => the lot size to trade

Remember DEMO accounts only...
Attached File(s)
File Type: mq4 sqDynamicBreakoutBox.mq4   48 KB | 916 downloads
File Type: mq4 stairStepBreakoutEA.mq4   40 KB | 893 downloads
  • #2,350
  • Apr 23, 2012 11:39pm Apr 23, 2012 11:39pm
Remember guys, only fxspin and myself are able to post the EA into the thread. You guys that are assisting fxspin with this project, send your work to fxspin privately, and after checking it out he will post it himself. Or he will send it to me and I will. But no one else is allowed to. This is how we will keep the thread on track, while making sure we don't get bogged down with a dozen unauthorized copies. This is how great systems get derailed. It's not going to happen with us.

And like fxspin just reminded us: This EA is never to be used on a live account. Ever.
To improve is to change. To perfect, is to change often.
  • #2,351
  • Apr 24, 2012 1:51am Apr 24, 2012 1:51am
Took EU breakout this morning. Set RR=1:1

Regards
A.
Attached Image
  • #2,352
  • Apr 24, 2012 2:52am Apr 24, 2012 2:52am
Just got to work and switched my charts on. I see cable formed a box overnight which just broke out on London open. Missed it anyway but price has pulled back so I will watch PA. UK figures out at 9.30 which could pause PA for now.

Attached Image (click to enlarge)
Click to Enlarge Name: cable m15.png Size: 17 KB


Daz.
Keep smiling
  • #2,353
  • Apr 24, 2012 8:51am Apr 24, 2012 8:51am
Quoting rew2k7
Took EU breakout this morning. Set RR=1:1

Regards
A.
Trade closed in profit.

Regards
A.
Attached Image
  • #2,354
  • Edited 4:12pm Apr 24, 2012 3:19pm | Edited 4:12pm
Quoting forexhard
...To me a breakout only completely fails if PA reverses before I've made back the spread. So long as I pay for the spread and the trade ends up not taking anything from my account balance, then even if I don't profit I can't say that it has completely failed.
...
I was just reading back over your posts only FH, incase I missed something. I found the content of this post particularly interesting.

Daz.
Keep smiling
  • #2,355
  • Apr 24, 2012 3:21pm Apr 24, 2012 3:21pm
Paradox, excellent contribution. But from now on please send your comments directly to fxspin via PM. (This goes for everyone.) Fxspin will explain all pertinent modifications with each release, and he will credit each person for their contributions as well.
To improve is to change. To perfect, is to change often.
  • #2,356
  • Apr 24, 2012 4:21pm Apr 24, 2012 4:21pm
Quoting Misterdaz
I was just reading back over your posts only FH, incase I missed something. I found the content of this post particularly interesting.

Daz.
LOL on the edit. I was just about to ask you what exactly caught your attention on that page. Not the case full of bullion, I see.
To improve is to change. To perfect, is to change often.
  • #2,357
  • Apr 24, 2012 4:25pm Apr 24, 2012 4:25pm
Quoting forexhard
LOL on the edit. I was just about to ask you what exactly caught your attention on that page. Not the case full of bullion, I see.
Yeah I did that from my Iphone originally then looked on my pc and thought "he's gonna wonder what the hell I'm on about!" Most people do btw. hahah.

That post gave me the impressioin you get to b/e pretty sharpish.

Daz.
Keep smiling
  • #2,358
  • Apr 24, 2012 4:37pm Apr 24, 2012 4:37pm
Hello all, now I have another thread I have to get reading on about... I have see n this thread pop up on the systems page a number of times and even some of the off set drama it has produced lol, but anything that is producing success is worth a look.

I am a new trader in the beginning stages of developing a trade plan and I have read half a forums worth of posts in that quest. Currently i am on the 4hr and daily charts with 60mm method he posted because that is about all the chart time i get being employed fulltime.

This system could have some merit for me because boxes can be formed before london open and I would have time to get up in the middle of the night to watch for some trades so I will keep reading and hope to pick something up.

Effort is rewarded so I hope success to all.

Oh yah lol forgot to add that it has really caught my interest because looking at the 4hr you can often see a few small inside bars nestling into a nice box and price just breaks out, so I was staring at my charts for hours last night thinking holy a might be able to catch some breakouts...
  • #2,359
  • Apr 25, 2012 1:48am Apr 25, 2012 1:48am
There are 2 perfect CZs forming on the GBPUSD and USDCAD. The GBPUSD one is 19 pips hgh and 49 bars long (19p x 49). And the USDCAD one is 14 pips high and 38 bars long (14p x 38). I'm sure forexhard must be watching them closely since he does'nt bother with CZs with bars that are 25 pips high. I'll be watching them myself. To a positive trading day to everyone!
  • #2,360
  • Apr 25, 2012 1:49am Apr 25, 2012 1:49am
Hi All
I know Forexhard has said that he isn't here to hold anyones hand and I don't expect that, but I really would appreciate some advise.
I have read through the thread and have been watching for a few weeks and have placed several trades.

However it seems like everytime I get a signal, It moves maybe 3 of 4 pips in my direction and then turnes around, giving me a loss. I don't seem to be able to catch the good trades where a decent number of pips are gained.

Am I missing something or is there a way to filter out a breakout that will run out of steam.

Any advise would be greatfully appreicted as I really like this system and am determined to make it work for me

Martin
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