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  • #2,521
  • May 18, 2012 1:15pm May 18, 2012 1:15pm
Quoting silversurfer
....looks like I left a bit on the table.
Never fear, there will be plenty of other pips on other tables! As the Japanese say, eat to become full, not to become filled.
To improve is to change. To perfect, is to change often.
  • #2,522
  • May 19, 2012 6:49am May 19, 2012 6:49am
Quoting forexhard
I love it! 10.5 months into this and we still have guys using hand-drawn boxes, just like on Page One. Nothing succeeds like success! Great job Larry, Suma, and Silversurfer!

thank you ,,,,,forexhard,,
your method have contributed /strengthen what I used before

regards
suma
  • #2,523
  • May 19, 2012 4:49pm May 19, 2012 4:49pm
Greetings to all --

I've completed 53 pages of the thread so about 115 to go, although I am reading in 5 page increments from the beginning then reading down 5 pages from the end working toward the middle. Getting the core from the beginning and the latest observations toward the end. Quick learning I hope.

BUT, I will continue to absorb and complete each page of the thread as we are all told to do.

I have also drawn about half of my 100 CZs . . . yes, by hand. Getting quite comfortable boxing them in. Interestingly, I started moving the height of the CZs down to less than 30 pips well before I read of that trend. There are quite a few 20-25 pip high (potential) zones to be located.

I have also appreciated the not infrequent reminder to not presume/predict the direction of the breakout, which I would always have done before arriving at SSBO.

And I am also glad for the encouragement to not sight too many pairs. I don't know yet, for me, what the right number is, but it surely isn't a screen full of little boxes. Follow 3 or 4? I would appreciate a variety of thoughts from you long time SSBO hands.

I love the core idea here. Let's face it, price will/does pause (CZ) regularly driving up the pressure to break out . . . and the SSBO-ers are just waiting. Someone called it 'sniping.' Just wait for that target of opportunity.

I think it does demand a high volume of screen time, but FH said that from the very beginning.

I hope to grab some very small value entries this week. Effectively, not much more than a demo, but putting something on the line sharpens my focus.

Every success to all in the week coming.

Forest
  • #2,524
  • May 20, 2012 8:55pm May 20, 2012 8:55pm
just wait for the development





regards
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  • #2,525
  • May 20, 2012 10:20pm May 20, 2012 10:20pm
Suma --

Do you prefer the M30 TF or it is used for special circumstances such as especially quiet market periods?

F-S
  • #2,526
  • May 21, 2012 2:33am May 21, 2012 2:33am
Quoting Forest-Sea
Suma --

Do you prefer the M30 TF or it is used for special circumstances such as especially quiet market periods?

F-S

yes depending on the terrain

sometimes m15 sometime m30 and so forth

regards
  • #2,527
  • May 21, 2012 4:28am May 21, 2012 4:28am
I only trade cable(GU) or EU

If you look back over a year you will see that more than a month can sometimes go by without a new box, depending on your parameters of course. Sometimes price comes back to the last box and you can trade there but not always.

This is when you learn to sit on your hands rather than force trades with ever easier parameters which could easily increase your loss ratio.

Take care
  • #2,528
  • May 21, 2012 9:15am May 21, 2012 9:15am
just barely


regards
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  • #2,529
  • May 21, 2012 6:31pm May 21, 2012 6:31pm
what do you do with a market like yesterday ,,,
is up to you each
depending on the experience of each person is different

back to basic
regards
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  • #2,530
  • May 22, 2012 1:36am May 22, 2012 1:36am
my first post

hello to all, and thanks for this wonderfull method
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ReAl MoDe: ON
  • #2,531
  • May 22, 2012 2:36am May 22, 2012 2:36am
As Larry pointed out earlier, patience is definitely needed when trading the SSBO. There were no setups for the past few days. There is a cool 18pip x 24 bars setup on the GBPUSD right now. Watching it when the GBP economic data releases in an hour.
  • #2,532
  • May 22, 2012 2:44am May 22, 2012 2:44am
Quoting pipraiser
As Larry pointed out earlier, patience is definitely needed when trading the SSBO. There were no setups for the past few days. There is a cool 18pip x 24 bars setup on the GBPUSD right now. Watching it when the GBP economic data releases in an hour.
hmm, that is interesting, I use 25 pip x 30 bars, and there is yet a setup in GU
but when I draw your box of 18 pip x 24 bars, the box shows that a breakout already took (see the attached picture)

or did I made a mistake in setting the box?
thanks
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  • #2,533
  • May 22, 2012 4:21am May 22, 2012 4:21am
regards
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  • #2,534
  • May 22, 2012 7:18am May 22, 2012 7:18am
Quoting bedul
hmm, that is interesting, I use 25 pip x 30 bars, and there is yet a setup in GU
but when I draw your box of 18 pip x 24 bars, the box shows that a breakout already took (see the attached picture)

or did I made a mistake in setting the box?
thanks
Hi bedul, I'm afraid I'm not experienced enough to answer your question. You will have to tweak the settings of the box and find what fits each individual currency. I usually try to spot consolidation zones myself and use the indicator to confirm it. From what was posted by forexhard earlier, he recommends that we look at boxes with pip heights of 25pips or less. Hopefully fxh can share his thoughts on your query. Cheers!
  • #2,535
  • Edited 7:52am May 22, 2012 7:37am | Edited 7:52am
Quoting pipraiser
Hi bedul, I'm afraid I'm not experienced enough to answer your question. You will have to tweak the settings of the box and find what fits each individual currency. I usually try to spot consolidation zones myself and use the indicator to confirm it. From what was posted by forexhard earlier, he recommends that we look at boxes with pip heights of 25pips or less. Hopefully fxh can share his thoughts on your query. Cheers!
thanks for the response pipraiser
yes I am aware that the box needs to be customized, I havent started to research deeper in each individual currency, but so far I found that the 25 x 30 is working in all major pair (by my standard at least ).
the only problem is the patience to wait for the box to appear lol
I'll continue to try and test different setting until I found one that i'm satisfied with


edit: I forgot, actually what I want to ask in the first place was "why didnt you took the upward breakout in GU"? because when I try to draw the box, its already show a break upwards
thanks
  • #2,536
  • May 22, 2012 10:14am May 22, 2012 10:14am
Quoting bedul
edit: I forgot, actually what I want to ask in the first place was "why didnt you took the upward breakout in GU"? because when I try to draw the box, its already show a break upwards
thanks
1) I believe in one of the earlier posts, the rule for conservatively trading the breakout were to wait for the CLOSE of the SECOND candle that breaks out of the box.
2) For the GBPUSD box that you are referring to, the second candle had a long upper shadow and closed below the buffer line. The subsequent candle that broke out returned to close near the buffer line again. This created two breakout candles with very long upper shadows. This was evidence for a lack of buying momentum. Hence I did not take the upper breakout.
3)However if you had traded the upper breakout, you could set your BE to BE+1 after it moved 10 pips in your favour and you would have still not lost.
If you had the downward breakout according to points 1 & 2, you would have captured at least 30 pips.
  • #2,537
  • May 22, 2012 10:20am May 22, 2012 10:20am
Quoting pipraiser
1) I believe in one of the earlier posts, the rule for conservatively trading the breakout were to wait for the CLOSE of the SECOND candle that breaks out of the box.
2) For the GBPUSD box that you are referring to, the second candle had a long upper shadow and closed below the buffer line. The subsequent candle that broke out returned to close near the buffer line again. This created two breakout candles with very long upper shadows. This was evidence for a lack of buying momentum. Hence I did not take the upper breakout.
3)However if you had...
And it was just a few short weeks ago that my little Pipraiser was barely toddling along, drinking his milk and pooping his pants. And now just look at him, getting his first pimples, riding his bike, and teasing the girls. They grow up so fast, don't they?
To improve is to change. To perfect, is to change often.
  • #2,538
  • May 22, 2012 11:38pm May 22, 2012 11:38pm
just crawling termites
better wait and see for london session

regards
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  • #2,539
  • May 23, 2012 12:34am May 23, 2012 12:34am
Quoting pipraiser
2) For the GBPUSD box that you are referring to, the second candle had a long upper shadow and closed below the buffer line. The subsequent candle that broke out returned to close near the buffer line again. This created two breakout candles with very long upper shadows. This was evidence for a lack of buying momentum. Hence I did not take the upper breakout.
I didnt knew this, still have a lot of learning to do. thanks pip's
  • #2,540
  • May 23, 2012 2:42am May 23, 2012 2:42am
Guess a few people are observing this consolidation.
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