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  • #3,301
  • Sep 6, 2012 1:27am Sep 6, 2012 1:27am
Quoting A.w.o.l
Good morning fellow SSBO troops!

Just wanted a quick show of hands on something....On my GU and EU charts, CZs formed and trades triggered whilst I was asleep and so essentially I missed the boat getting in....

Do people tend to hop onto trades around the trigger point when PA is around or comes back to that area or do they wait for a stop out and enter on the second trade effectively with trade 1 stakes?
It's a personal thing I guess. But me? Hell yea I do, I trade when I can. So If I missed the first chance at entry but it gives me a second crack then I'm on it. Don't forget these CZ's don't form up every day. And the GU CZ this morning looks good.
I never know what's gonna happen, so how can I be wrong?
  • #3,302
  • Sep 6, 2012 1:40am Sep 6, 2012 1:40am
Quoting A.w.o.l
Good morning fellow SSBO troops!

Just wanted a quick show of hands on something....On my GU and EU charts, CZs formed and trades triggered whilst I was asleep and so essentially I missed the boat getting in....

Do people tend to hop onto trades around the trigger point when PA is around or comes back to that area or do they wait for a stop out and enter on the second trade effectively with trade 1 stakes?

Awol, if i miss the opening entry, as long as they havn't hit profit then I will start the sequence as long as price has returned back to the box, in fact I prefer to start the sequence that way although generally I will start as soon as the box has completed.

In fact I think our edge has increased by missing the start of the sequence, then jumping in.

I have asked FH in my last post as to whether the facility could be added to the EA so that we can set the EA to miss perhaps the first trade, starting the sequence with the 2nd trade that initialises.

AJ completed for me this morning with GU ready to rock.

I know there is a significant amount of news around this week which will put some people off however I am finding this method deals with the news quite efficiently.

I use the M word, setting max 4 trades in a set, no failures so far, before I take the trade I know exactly how much my stash wil get hit if the set fails.

M.
  • #3,303
  • Sep 6, 2012 1:54am Sep 6, 2012 1:54am
Thanks for the replies guys. I'm going to see if the EU drags GU up and then enter on trade 2 GU as PA on EU has at the moment gone past the trigger for me.

By the way guys you have to check out the AU as a tradeable pair. Ridiculously good.....outperforming the GU for me at the moment. A nice pair to trade when your asleep as usually you wake up and the trade has hit TP. Well asleep if your living in the UK like me!
  • #3,304
  • Sep 6, 2012 2:07am Sep 6, 2012 2:07am
Quoting A.w.o.l
Thanks for the replies guys. I'm going to see if the EU drags GU up and then enter on trade 2 GU as PA on EU has at the moment gone past the trigger for me.

By the way guys you have to check out the AU as a tradeable pair. Ridiculously good.....outperforming the GU for me at the moment. A nice pair to trade when your asleep as usually you wake up and the trade has hit TP. Well asleep if your living in the UK like me!
Im finding jpy at night, gbp/usd during the day working well, and aud when its available.

M.
  • #3,305
  • Sep 6, 2012 2:11am Sep 6, 2012 2:11am
Quoting A.w.o.l
Good morning fellow SSBO troops!

Just wanted a quick show of hands on something....On my GU and EU charts, CZs formed and trades triggered whilst I was asleep and so essentially I missed the boat getting in....

Do people tend to hop onto trades around the trigger point when PA is around or comes back to that area or do they wait for a stop out and enter on the second trade effectively with trade 1 stakes?
If the trade you missed comes back and closes inside the CZ I would trade the next BO wherever it goes. Technically it could be a trade 2 or just second chance at trade 1. Either way I regard it as a correct entry. I actually ignore any BO before the European open, for me that is 6 GMT.
  • #3,306
  • Sep 6, 2012 2:14am Sep 6, 2012 2:14am
Quoting moodybot
....I have asked FH in my last post as to whether the facility could be added to the EA so that we can set the EA to miss perhaps the first trade, starting the sequence with the 2nd trade that initialises....
Moody, with the EA you will be able to select how many trades there are per set (same as the indi), as well as custom lot sizes per trade. I suppose it will be possible to set the 1st trades lot size to zero, which would in effect do what you are asking. But I have to say that personally I don't agree with this tactic. I would rather have you focus on creating the best possible CZ & Buffer parameters, and go from there. Because equal to having no directional bias for your trades, is the requirement that you feel no emotion or doubt when entering the market. If following price is the only motivation for your actions, then this includes entries as well as exits.

What I would rather have you do instead, is to be absolutely fearless with your entries, but overly cautious with your lot sizes. Simply put, anyone can survive a 1+5 trade set, even if all 6 end up as losses, and even if you Martingale -- depending on what your starter lot size was, of course.
To improve is to change. To perfect, is to change often.
  • #3,307
  • Sep 6, 2012 2:17am Sep 6, 2012 2:17am
Quoting LarryK
If the trade you missed comes back and closes inside the CZ I would trade the next BO wherever it goes. Technically it could be a trade 2 or just second chance at trade 1. Either way I regard it as a correct entry. I actually ignore any BO before the European open, for me that is 6 GMT.
Cheers Larry, I will use that as a good guide!
  • #3,308
  • Sep 6, 2012 2:23am Sep 6, 2012 2:23am
AWOL, it would help if you post pics. Are you talking about price returning to the CZ after a movement big enough to close most initial trades in profit (eg, 30-40p), or are you talking about false breakouts?
To improve is to change. To perfect, is to change often.
  • #3,309
  • Sep 6, 2012 2:35am Sep 6, 2012 2:35am
Quoting forexhard
AWOL, it would help if you post pics. Are you talking about price returning to the CZ after a movement big enough to close most initial trades in profit (eg, 30-40p), or are you talking about false breakouts?
Can't resist this FXH............."false breakouts".....you mean "trades that didn't hit TP"....

Lol, was just a question concerning when a breakout has occurred that you were not "in" on (asleep, away from PC) and re-entry of that trade when PA returns to that area before going back in the original direction.

To be honest, I have had success letting that first trade play out....if it goes on to be a winner then whilst I would have missed it I know my settings are good.....

If it stops out, I effectively get a free trade as trade 2 becomes trade 1 effectively and your edge increases (although we can't predict what PA will do).

False breakouts indeed....tut tut....
  • #3,310
  • Sep 6, 2012 3:14am Sep 6, 2012 3:14am
Quoting forexhard
Moody, with the EA you will be able to select how many trades there are per set (same as the indi), as well as custom lot sizes per trade. I suppose it will be possible to set the 1st trades lot size to zero, which would in effect do what you are asking. But I have to say that personally I don't agree with this tactic. I would rather have you focus on creating the best possible CZ & Buffer parameters, and go from there. Because equal to having no directional bias for your trades, is the requirement that you feel no emotion or doubt when entering...

Hi FH

Thanks for the reply

You know as well as I do that the entry and exit are spot on with the indy, and because they are so precise, my interest in deliberately missing out a trade at the start of the set is purely a money management issue.

It would allow me to take a second set on a fresh pair while waiting for the completion of a set already running.

I will try setting zero on the first trade once the Ea becomes available.

Thanks

M.
  • #3,311
  • Sep 6, 2012 6:43am Sep 6, 2012 6:43am
Quoting A.w.o.l
Good morning fellow SSBO troops!

Just wanted a quick show of hands on something....On my GU and EU charts, CZs formed and trades triggered whilst I was asleep and so essentially I missed the boat getting in....

Do people tend to hop onto trades around the trigger point when PA is around or comes back to that area or do they wait for a stop out and enter on the second trade effectively with trade 1 stakes?
Hi guys I have not posted here in awhile was busy finishing up school. Just started trading back a few months ago.
In regards to your post what I normally do is I do not enter my trade on the first price bar to close outside the CZ but instead wait for a retouch of the buffer line on any subsequent bar and enter my trade there

In the picture the green circles are where I entered and the purple circles are where I took profit (ignore the orange and blue rectangles)
Attached Image (click to enlarge)
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  • #3,312
  • Sep 6, 2012 6:56am Sep 6, 2012 6:56am
I noticed that every once in a while the new indicator has to be reset, because it doesn't show properly - it doesn't show that the trade got stopped out or hit TP, even if the price went well over the price target. Once you reset it, it shows fine. Hopefully this is going to be addressed by the time the EA comes out.
  • #3,313
  • Sep 6, 2012 7:22am Sep 6, 2012 7:22am
yes! finally free for the next one
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  • #3,314
  • Sep 6, 2012 8:07am Sep 6, 2012 8:07am
Trades 4 & 5

Back to read @ page 59; only 3/4's left to go........
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Trade 5.JPG Size: 72 KB
  • #3,315
  • Sep 6, 2012 9:13am Sep 6, 2012 9:13am
The entering later than initial breakout has crossed my mind more than a few times.

The new indie has so many cool setting there is just no need for it, getting the box size and buffers right is the easy part, initially and re adjusting them after the other settings are taken care of.

Today's closed in profit first break out trades:
EurCad
ChfJpy

In the works:
EurGbp


Trade sets in the works:
GbpUsd second trade.
  • #3,316
  • Sep 6, 2012 9:43am Sep 6, 2012 9:43am
Following what was mentioned a few posts ago....I always go into my indi as if to change settings and then come back out without changing anything as it refreshes the chart and sometimes produces a new legitimate CZ.....
  • #3,317
  • Sep 6, 2012 11:21am Sep 6, 2012 11:21am
Thanks Forexhard, You are god gifted blessing to this forum and us.
came across this thread only a few days back while I was looking into FF and I am almost sticked to this thread, doing testing as per your suggestions however I am learning and currently on page 30 only, the basics are already on first few pages but I don't want to learn and read thru what Guru has suggested on people's question.

I am amazed to see the level of success one can get if you follow a rule and identifying the exact SL and TP is what makes this tool a Easy one but difficult, as most people love to complicate things when it comes to trades.

I am learning and will post back if I need to ask anything which is worth your time.

Lastly my broker is not offering MT4 so I am using it for reference and using ODIN to visualize the possible trade to grab.

Thanks once again for the beauty of simplicity.
  • #3,318
  • Sep 6, 2012 12:25pm Sep 6, 2012 12:25pm
Quoting moodybot
Hi FH

Thanks for the reply

You know as well as I do that the entry and exit are spot on with the indy, and because they are so precise, my interest in deliberately missing out a trade at the start of the set is purely a money management issue.

It would allow me to take a second set on a fresh pair while waiting for the completion of a set already running.

I will try setting zero on the first trade once the Ea becomes available.

Thanks

M.
Yes, that's what I understood; we're in sync on this problem. But still, I'd rather have you enter under a set of rules or not at all. Establishing a rule set, but then ignoring the first result of those rules just because you're afraid of whiplash, is not what I would call wise trading. Intentionally ignoring the first possible trade of a set is not the same thing as having identified trade direction or trade momentum. It may seem like it is, but it is not. But there are ways to do this, such as setting a larger buffer zone, or engaging the MinClosedBars input. Adding just 2 or 3 pips to the BL and/or setting the MinBar to at least "1" will filter out many (if not most) of those entries that are causing you problems.
To improve is to change. To perfect, is to change often.
  • #3,319
  • Sep 6, 2012 12:52pm Sep 6, 2012 12:52pm
Quoting forexhard
Yes, that's what I understood; we're in sync on this problem. But still, I'd rather have you enter under a set of rules or not at all. Establishing a rule set, but then ignoring the first result of those rules just because you're afraid of whiplash, is not what I would call wise trading. Intentionally ignoring the first possible trade of a set is not the same thing as having identified trade direction or trade momentum. It may seem like it is, but it is not. But there are ways to do this, such as setting a larger buffer zone,...
Thanks FH

Am religiously following the rules, GU again hit profit earlier so as far as setting the indy is concerned, everything is sound.

I am finding the breakout is usually on the 3rd wave and if that miss's then the next trade that hits t/p will usually be the following 3rd otherwise the 5th completes the job but best not mention that to loudly!!

M.
Attached Image (click to enlarge)
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  • #3,320
  • Sep 6, 2012 4:07pm Sep 6, 2012 4:07pm
Quoting A.w.o.l
Good morning fellow SSBO troops!

Just wanted a quick show of hands on something....On my GU and EU charts, CZs formed and trades triggered whilst I was asleep and so essentially I missed the boat getting in....

Do people tend to hop onto trades around the trigger point when PA is around or comes back to that area or do they wait for a stop out and enter on the second trade effectively with trade 1 stakes?

I find that with EUR and GBP that I won't take the trade unless they go back into the CZ or the trigger point within 3 hrs of the London open. Otherwise these two currencies don't have enough momentum in the early Asian session.
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