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  • #3,141
  • Aug 20, 2012 3:36am Aug 20, 2012 3:36am
Quoting LarryK
Has anyone here found a decent profitable pair with SSBO that is not correlated with EURUSD/GBPUSD that does not do all its tradeable moves in the asian session?

I am trading EURUSD and GBPUSD only but they tend to go the same way most of the time so I don't want to double up on risk if they both can be traded on the same day.

Please don't say GBPJPY, I hate that pair, lost me more money than I care to remember.

Larry

ps good week for me, got GU move through the old CZ yesterday on the 2nd attempt
I had a good week last week...but as any aspiring trader will know, sometimes you have to constantly check yourself and that what your doing is correct...

Today I was in both the EU and GU trade long trade....last week I had been in a similar situation trading both at the same time.....I've just closed out the EU at break even. Why? Because its silly to be essentially doubling my risk on two pairs that correlate.

From a statistical point of view, the EU for me makes it on the first attempt 73% of the time. All very well and good, and last week I traded successfully with both pairs, but what if it doesn't and this scenario happens when I'm deep into martingaling both currencies!

This is a noob mistake, one which I haven't paid for, thankfully, and seeing the error of my ways I'm in on the currency which I feel is less risky (of course this is on past data) the GU. Yes I'm potentially losing out on profit but I don't care, I'm trading this properly now and not being one of the many failed statistics.

Hope this post has some relevancy to someone....use the system, but don't abuse it. I'm off to see if i can find another pair to trade alongside the GU that won't correlate as much.

Green pips to all

P.S. I could be 20 odd pips up on the EU but I trade the system as is and let the trade run until its conclusion so SSBO is working perfectly for me.
  • #3,142
  • Aug 20, 2012 6:15am Aug 20, 2012 6:15am
Quoting A.w.o.l
I had a good week last week...but as any aspiring trader will know, sometimes you have to constantly check yourself and that what your doing is correct...

Today I was in both the EU and GU trade long trade....last week I had been in a similar situation trading both at the same time.....I've just closed out the EU at break even. Why? Because its silly to be essentially doubling my risk on two pairs that correlate.

From a statistical point of view, the EU for me makes it on the first attempt 73% of the time. All very well and good, and last week...
+1
  • #3,143
  • Edited 6:36am Aug 20, 2012 6:25am | Edited 6:36am
Try not to get overly excited by "good weeks" and other stretches of good luck; this isn't a casino. There have also been periods in the not-too-distant past where you would have been hit with 5 or 6 stop-outs in a row.

Do you have a plan in place to handle such periods? (rhetorical question)
You are in a maze of twisty little passages, all alike.
  • #3,144
  • Aug 20, 2012 8:02am Aug 20, 2012 8:02am
Quoting stevegee58
Try not to get overly excited by "good weeks" and other stretches of good luck; this isn't a casino. There have also been periods in the not-too-distant past where you would have been hit with 5 or 6 stop-outs in a row.

Do you have a plan in place to handle such periods? (rhetorical question)
I see what your saying. I take it on board as with everything on this thread. I don't want to be another trader wannabe, not by a long shot. I'm constantly trying to improve myself.

All am saying is that since switching to and throwing myself fully into this system and this system alone...my profits are the best they've been.

My settings are tight. Can they be improved over the next 100 days to give a first hand account of the amount of pips I've earnt.......absolutely!

4 trades is enough for me. Statistically, the edge is on my side. After all we are trading an edge (no pun intended!) and not blindly following a Guru system. My ultimate plan is not to overtrade, stay calm, trust in the system and if I'm sensible, steady profits are likely (not guaranteed of course).

I can't say that there won't be a week where all three of my markets go nuts. All I can say is that reading the thread gives me the tools to create a game plan that should I be in a situation where the markets do their own thing (which is fine) and I employ sensible MM (SUE!!!! Incidentally I'm looking into your method in great detail) then I don't see why I can't earn a living from this.

I am a noob of course, have been trading full time since March spending hours looking at charts...but what separates me from the failures is my attention to detail and willingness to learn from others like you steve and FH and the many experienced traders here. I post up my trades for inspection, I expect to be judged and want to be an active member of this thread without cluttering and waffling.

I want a new life.....SSBO gives me that chance
  • #3,145
  • Aug 20, 2012 9:49am Aug 20, 2012 9:49am
Quoting forexhard
Just to let you all know, over the last couple of days Xux has sent me an early version of the EA, as well as updates to the indicator. There's still a lot to do, and there's always a lot of de-bugging after that. I have no way of knowing how long it will be until it's finished, but at least we are seeing some good progress.
Hi FxH!

The more I'm using the new indicator, the more I'm increasingly feeling that I'm actually from the Han Solo school of thought i.e. "Never tell me the odds!"

In that spirit, can I request a small setting (similar to ShowDisplayPanel) to also allow showing only the first 2 lines of the Display Panel. To wit: The current CZ range, bar count and TF, and the current CZ count and CZ per week.

Speaking only for myself for now, I think there may be a possibility of being needlessly second-guessed by the additional statistics i.e. the statistics need not necessarily be representative of the possibility of future success. And unfavorable statistics can even be overcome given a more selective entry methodology.

... Especially taking into account, for example, how different pairs have particularly nuanced behaviors around the CZ buffer zones

In short, I hope to still be able to set CZ maximum range, minimum bar count, buffer zone size, etc and not have to spend time optimizing trade set perfomance, while still able to take advantage of the "auto reduce box size"

I hope my request will be taken into consideration. If it's not, no biggie, but I may have to go back to using Squalou's indicator, which also works just fine.

Thanks in advance!
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #3,146
  • Aug 20, 2012 2:33pm Aug 20, 2012 2:33pm
Hi FxH, XuX99 !!

I was wondering if its possbile to add an email alert just after the box was formed. Just to alert us about that.

Regards
A.
  • #3,147
  • Aug 20, 2012 5:15pm Aug 20, 2012 5:15pm
Skenobi, from your request I just asked Xux to make it so that we have 4 possible choices for the chart display: Nothing, the top section only, the top 2 sections only, and of course all 3 at once.

REW, I don't know about the indi, but I've seen the EA shell and it has various alert and email choices that pretty much cover every possible contingency.
To improve is to change. To perfect, is to change often.
  • #3,148
  • Aug 20, 2012 11:08pm Aug 20, 2012 11:08pm
Long on G/U
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  • #3,149
  • Aug 21, 2012 1:19am Aug 21, 2012 1:19am
Looks like this is the only trade I'm doing for the day.....

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  • #3,150
  • Edited 8:14am Aug 21, 2012 3:58am | Edited 8:14am
forexhard, i take my hat of for you.

After reading the entire thread and re reading parts of it, drawing them boxes, trying to understand, i finally saw the light.

Wei wu wei - I am far from mastering it but somehow its catching on.

Drawing them boxes is my favored method but the indie coded by Xux99 is great and i consider both methods a EA, the processor being between my shoulders until AI is coded into a EA.

I am totally new to FOREX (3 months) and was going down the wrong path, I had so many indicators in use i could barely make out the candle sticks from behind them and not talking about the standard indies coming with MT4 but the most exiting combo moneymakers one can find, i even backed up my indicators in case of a computer crash XD

My unlearning has maybe been easier do to the fact im so new to FX but man I tell you this, after i deleted all my custom indies, opened up a blank chart and stared at it I was totally lost, even after drawing some boxes on it, that experience is awesome, now any chart with a little box on it looks readable.

In the green for the firs time in FX land

Thank you and all the great posters in this thread who have put a method into words.

Below my closed trades I opened Monday.

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  • #3,151
  • Aug 21, 2012 8:20am Aug 21, 2012 8:20am
Been messing around with the higher timeframes. Its amazing the profit that can be taken from these breakouts. Also interesting the formation of the candles in the CZ and the direction of the breakout

http://img440.imageshack.us/img440/825/39085314.png
Matt
  • #3,152
  • Aug 22, 2012 3:34am Aug 22, 2012 3:34am
Downside to having one closed bar outside the cz.....this one has traveled way too far on GU.

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Will look to see if Euro fails on Trade 2 and then look to enter on a higher probability trade 3 as I am not in this market today and therefore can start with normal lot size.

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I'll be keeping an eye on Wall St because my other market, AU, needs a fresh cz.

P.S. Ignore the two lines on each, I don't use them and forgot to take them off
  • #3,153
  • Aug 22, 2012 11:02am Aug 22, 2012 11:02am
Hello Everybody,

Going through the recent pages, I've seen that some people have problems with their entries, i.e. should you enter on one or two bars close etc.

In most cases, I don't just enter on the next bar but prefer to place my entry at the low of the b/o bar(s):

http://s19.postimage.org/p4v77pln7/s...ry_example.png
(I apologise but the board won't let me insert images, I can only link or attach them)

And vice versa, obviously you enter at the high of the b/o bars when going long.

Unfortunately, this means that you can't use the indicator for back-testing as it just enters on the next bar no matter what.
  • #3,154
  • Aug 22, 2012 2:15pm Aug 22, 2012 2:15pm
In quite a few posts forexhard has mentioned the revenge arc and similarities in patterns up and down.


Noticed it a bit late but highlighted it anyway just for the sheer beauty of it and the remote chance it would fill.
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And it did, as I rode it up from the indie I just had to ride it down and back up again.

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  • #3,155
  • Aug 23, 2012 5:19am Aug 23, 2012 5:19am
Hi FxH,
I have been around forex for many years trying both my ideas and those of others. Thought I had registered on FF but apparently not so this is my first post.
Recently I have had the opportunity to test various things in a live market and moving forward hopefully I can make this work.

FIRST LIVE TRADE PLUS 13 pips.

I am approximately 1/3 of the way through your thread so still have a lot to learn.
I could have carried on lurking but thought I would take this opportunity to thank both yourself and the contributors for making this thread what it is today.

Congratulations on one year plus.

Thank you.

Mj
  • #3,156
  • Edited 3:27am Aug 24, 2012 3:26am | Edited 3:27am
Quoting kvvwebdesign
is anybody else having this problem where my table is "scrambled"?

+ i have been tweaking the indicator, but with this type of table, there is no way i can tell if it's a good tweak or not

Of anybody can take a printscreen of their settings, that'll be great..

thank you,
Kev
It's not a bug, it's a feature, as the saying goes.

Essentially, you have two stats panels stacked on top of one another.

I saved a template with the indi and it "hard-saved" all its objects... which I only realized when I loaded the template on a fresh chart and all the SSBO left-over objects appeared in strange places.

Make sure the SSBO indicator appears only on the M15 timeframe. (Check the indi's 'Input' settings: BoxTimeFrame=15, and tick just the 'M15' under the 'Visualization' tab.)

Then switch to another timeframe where you now shouldn't see either the indi or the stats panel. If the stats panel is still there, just delete all the objects (no probs, MT4 only shows you the "hard" objects on the actual timeframe, so the indi's real-time stats won't be affected on M15). Ctrl+B, Ctrl+A, Alt+D will do the job quicker (i.e. objects window, select all, delete).

So just make sure you tick the right settings if you use the indi on different timeframes or they will overlap!

Also, use the indi's StatsCorner input to make the stats appear on the right-hand side of the chart, so they won't "scramble" your bars (StatsCorner=1).
  • #3,157
  • Aug 24, 2012 5:01am Aug 24, 2012 5:01am
The more i use the indie the more i like it.

Been playing with the June 1 version of the EA and found a nice sweet spot for one pair and time frame.

My demo account is now a few € in the green, next week live and Stairstep Breakouts only.

GU overnight hits TP.

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  • #3,158
  • Aug 24, 2012 7:33am Aug 24, 2012 7:33am
I have finally found some time to examine the stats for the new indi.

I am convinced that the spread is not being taken into account for the buy signals, nor is the spread being taken into account for the take profit of the sells, although this is not critical as the price often goes beyond the take profit level.

It means that all long triggers would possibly have been taken off an earlier candle that did not quite reach the entry shown, due to the fact that as a result of the spread in real life the trade would be entered.

MT4 never shows the ask levels reached for candles, so when back testing we have to make assumptions about the ask level, adjusting by the spread, which as we all know jumps around at the whim of our platform providers.

The answer is for an additional input for the spread, which would vary depending on your provider. For me it is supposed to be 3.5 pips for GU.

Because of this you will need to treat the stats with caution, until this problem is addressed, even then at best you will only have an idea of potential profit with a particular setting.

Larry
  • #3,159
  • Aug 24, 2012 9:54am Aug 24, 2012 9:54am
Quoting LarryK
I have finally found some time to examine the stats for the new indi.

I am convinced that the spread is not being taken into account for the buy signals, nor is the spread being taken into account for the take profit of the sells, although this is not critical as the price often goes beyond the take profit level.

It means that all long triggers would possibly have been taken off an earlier candle that did not quite reach the entry shown, due to the fact that as a result of the spread in real life the trade would be entered.

MT4 never shows...
Hi Larry,

Excellent post Larry as usual.
Could the buffer input address the spread issue?

Merci
  • #3,160
  • Aug 24, 2012 10:17am Aug 24, 2012 10:17am
Quoting LarryK
I have finally found some time to examine the stats for the new indi.

I am convinced that the spread is not being taken into account for the buy signals, nor is the spread being taken into account for the take profit of the sells, although this is not critical as the price often goes beyond the take profit level.

It means that all long triggers would possibly have been taken off an earlier candle that did not quite reach the entry shown, due to the fact that as a result of the spread in real life the trade would be entered.

MT4 never shows...
Larry, good to see you back. How was your house warming?

RE the spread issue: The indi might not have an extra setting for the Spread or how to cope with a breakeven scenario, but the EA will. The EA will have a custom trailing stop feature that takes Spread into account as well as other features that help to enhance the capturing of pips where ever possible. It's called the -N- value, so look for it when the EA is released. (And Mer, if you're reading this, this -N- trailing stop feature is modeled on your trading style as described in these pages.) And so far, Larry, none of what I'm talking about refers to Martingaling. That's entirely optional, as always.
To improve is to change. To perfect, is to change often.
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