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  • Post #3,881
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  • Oct 31, 2012 10:07pm Oct 31, 2012 10:07pm
  •  forexhard
  • | Commercial Member | Joined May 2011 | 1,754 Posts
Quoting Mister_M
Disliked
That's exactly how I've handled them thus far. Was just interested if any others had developed any different methodologies for these situations.

Thanks FXH

MM
Ignored
What I've described is how the Indi and the EA are hard coded.
To improve is to change. To perfect, is to change often.
 
 
  • Post #3,882
  • Quote
  • Oct 31, 2012 10:18pm Oct 31, 2012 10:18pm
  •  dojirock
  • | Joined Apr 2010 | Status: Show me your Pips! | 205 Posts
Quoting Mister_M
Disliked
Question to FXH and All

In my attached chart I have hand drawn a CZ which the indi "would have" drawn had it not been for the current indi CZ which I entered a trade from.

My question is, how have you handled these situations? Stay with the original CZ?..Enter a breakout trade off both?

Curious to hear anyone's thoughts and/or methods.

MM
Ignored
Mister,

I guess I dont understand what your looking for. Your in a short position. I t stays open either until you profit or stop out. What would be the benefit of adding a position based on your manually drawn box. You like manual boxes better? Use them. Its the principle of this, catching the breakouts of a consolidated area. Who cares if you use the indi or manual?
Then best part about all the work fxh has done is the ease of it. No questions..no brainer. I just dont understand your question maybe.

??

doji
 
 
  • Post #3,883
  • Quote
  • Oct 31, 2012 10:24pm Oct 31, 2012 10:24pm
  •  Mister_M
  • | Joined Aug 2012 | Status: Member | 37 Posts
Quoting forexhard
Disliked
What I've described is how the Indi and the EA are hard coded.
Ignored
Yes, I'm fully aware of this.

In my short time as one of your members, I've had the fortunate situation to have had the time to put a few hundred hours into tweaking your indi on different pairs and TF's.

There are many instances that while in a trade a second CZ will develop but obviously cannot be displayed because of the way the indi is hard coded as you've pointed out. I was simply wondering is anyone had toyed with a strategy for this CZ within a CZ.

Thus far I have only traded off whatever the indi gives me.

MM
Wherever PA Goes ~I Go
 
 
  • Post #3,884
  • Quote
  • Oct 31, 2012 10:40pm Oct 31, 2012 10:40pm
  •  Mister_M
  • | Joined Aug 2012 | Status: Member | 37 Posts
I think it best to rescind my previous question about a CZ within a CZ.

In the example chart I posted, which shows the current open Sell position, there may be the possibility of developing a strategy that if PA breaks out north from my hand drawn CZ, exit the trade at that point and start the second leg of the trade earlier with a buy.

I shall but the time into some back testing to see if it proves prudent.

MM
Wherever PA Goes ~I Go
 
 
  • Post #3,885
  • Quote
  • Nov 1, 2012 1:59am Nov 1, 2012 1:59am
  •  forexhard
  • | Commercial Member | Joined May 2011 | 1,754 Posts
Quoting Mister_M
Disliked
I think it best to rescind my previous question about a CZ within a CZ.

In the example chart I posted, which shows the current open Sell position, there may be the possibility of developing a strategy that if PA breaks....
Ignored
My opinion is that you have yet to grasp how simple and easy and self-working SSBO can really be. You are working MUCH to hard to devise a winning strategy, failing to see that one has already been handed to you gift wrapped. Doji just said it: just do what FxH says, and only that, and sit back and rake in the pips.
To improve is to change. To perfect, is to change often.
 
 
  • Post #3,886
  • Quote
  • Nov 1, 2012 2:09am Nov 1, 2012 2:09am
  •  Swg123
  • | Joined May 2011 | Status: Member | 153 Posts
Quoting lt_forex
Disliked
FXH and others : do you plan to trade friday ?

Thanks
Ignored
Personally, I try to avoid trading through NFP. Some brokers widen spreads to 20 pips or more around the news. That's usually not a problem if you're trading off daily charts but at these shorter timeframes your SL can easily get taken out on a spike. Ask me how I know

Otherwise, Friday trading is fine.
 
 
  • Post #3,887
  • Quote
  • Nov 1, 2012 2:36am Nov 1, 2012 2:36am
  •  Mister_M
  • | Joined Aug 2012 | Status: Member | 37 Posts
Quoting forexhard
Disliked
My opinion is that you have yet to grasp how simple and easy and self-working SSBO can really be. You are working MUCH to hard to devise a winning strategy, failing to see that one has already been handed to you gift wrapped. Doji just said it: just do what FxH says, and only that, and sit back and rake in the pips.
Ignored
You have seen from my trade postings on the EU, I have had nothing but success!!

Using your method the last 2 weeks, all of a sudden watching paint dry has become more exciting.

My biggest challenge may be to actually do something else other than staring and thinking charts :-)

Thank-you again
Wherever PA Goes ~I Go
 
 
  • Post #3,888
  • Quote
  • Nov 1, 2012 5:23am Nov 1, 2012 5:23am
  •  Swg123
  • | Joined May 2011 | Status: Member | 153 Posts
Probably not the wisest of trades. R:R was lousy and entry was a long way from the CZ. Eventually it paid off and became the 10th consecutive win on GU.
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  • Post #3,889
  • Quote
  • Nov 1, 2012 5:25am Nov 1, 2012 5:25am
  •  Swg123
  • | Joined May 2011 | Status: Member | 153 Posts
Here is USDCHF so far this week. I go for 20 pips on this pair.
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  • Post #3,890
  • Quote
  • Nov 1, 2012 9:37am Nov 1, 2012 9:37am
  •  forexhard
  • | Commercial Member | Joined May 2011 | 1,754 Posts
Quoting Swg123
Disliked
Probably not the wisest of trades. R:R was lousy and entry was a long way from the CZ. Eventually it paid off and became the 10th consecutive win on GU.
Ignored
Try reducing the MinBar setting to just 1 or 2. After another 10 wins you might even try Zero for the quickest possible entry. Keep in mind that once you have about 30-40 combined wins under your belt (regardless of pair or TF), that you are now so far in the black that so long as you maintain a strict 1:1 (or better) ratio, you can basically never lose your added equity. And each new "10" just adds to your over-all safety buffer. So by the time you've added, say, 20% to your account, you'll be much more confident about getting in earlier rather than later.
To improve is to change. To perfect, is to change often.
 
 
  • Post #3,891
  • Quote
  • Nov 1, 2012 10:57am Nov 1, 2012 10:57am
  •  Swg123
  • | Joined May 2011 | Status: Member | 153 Posts
Quoting forexhard
Disliked
Try reducing the MinBar setting to just 1 or 2. After another 10 wins you might even try Zero for the quickest possible entry. Keep in mind that once you have about 30-40 combined wins under your belt (regardless of pair or TF), that you are now so far in the black that so long as you maintain a strict 1:1 (or better) ratio, you can basically never lose your added equity. And each new "10" just adds to your over-all safety buffer. So by the time you've added, say, 20% to your account, you'll be much more confident about getting in earlier rather...
Ignored
Thanks FH, actually I do use 0 closed bars on most pairs. I was lucky enough to discover this thread when it was only 10 or 11 pages long. Although I haven't posted much (spend most of my time over at Steve Hopwood's place) I keep dropping in and I think I've read every post.

I've been trading on one of my live accounts for a year now. So I've been through the confidence-building stage already - and, believe me, I've added a lot more than 20%!

Thanks again for all your efforts.
 
 
  • Post #3,892
  • Quote
  • Nov 2, 2012 4:21am Nov 2, 2012 4:21am
  •  Moreol
  • | Joined Jun 2012 | Status: Member | 36 Posts
I am currently short on cable. Anyone like me?
 
 
  • Post #3,893
  • Quote
  • Nov 2, 2012 5:30am Nov 2, 2012 5:30am
  •  Swg123
  • | Joined May 2011 | Status: Member | 153 Posts
GU - 11 in a row. Or would have been if I was awake at 4.30!

And 20 more on UCHF. Did get this one on a buy stop.
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  • Post #3,894
  • Quote
  • Nov 2, 2012 5:53am Nov 2, 2012 5:53am
  •  Swg123
  • | Joined May 2011 | Status: Member | 153 Posts
AU looks like it go either way at the moment. Not had a good week on this pair, normally one of the more reliable.
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  • Post #3,895
  • Quote
  • Nov 2, 2012 12:19pm Nov 2, 2012 12:19pm
  •  forexhard
  • | Commercial Member | Joined May 2011 | 1,754 Posts
Four positions with this basket. TP1 & TP2 already hit. Two more shorts still open and hoping for an even longer bear run.
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To improve is to change. To perfect, is to change often.
 
 
  • Post #3,896
  • Quote
  • Edited 4:27pm Nov 2, 2012 3:12pm | Edited 4:27pm
  •  forexhard
  • | Commercial Member | Joined May 2011 | 1,754 Posts
3 down, 1 to go...

EDIT: Looks like pos#4 will have to wait until next week. So far the first 3 closed out with 43p, 67p, and 93p respectively, or a total of 203p. Pos#4 is guaranteed to close with 70p even if it retraces back to its jumping stop. If it keeps going on Monday, pos#4 will close with about 115p by itself.
Attached Image (click to enlarge)
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Size: 149 KB
To improve is to change. To perfect, is to change often.
 
 
  • Post #3,897
  • Quote
  • Nov 2, 2012 7:32pm Nov 2, 2012 7:32pm
  •  dojirock
  • | Joined Apr 2010 | Status: Show me your Pips! | 205 Posts
Thats awesome fXH........The SSBO has really blossomed.....Thanks again for all your work, patience and efforts.

doji
 
 
  • Post #3,898
  • Quote
  • Nov 3, 2012 6:22pm Nov 3, 2012 6:22pm
  •  vincent_le
  • | Joined Nov 2012 | Status: Member | 11 Posts
Hi ForexHard, Squalou, Xux99 and others,


SSBO is a really great system and I really admire your idea to code it into a fully automated system.

I am not sure how you are coding it, as the EA has not been released, but I would like to contribute some ideas based on my research of this system.



Current Advantages of this system:

- Simple – that is the best ever and it will work forever

- Good Risk:Reward ratio (1:1 or much better)

- Work on any currency pair – more trade setups to compensate possible losses of some currency pairs)



Current disavantages of this system:

- Sometimes, signal for breakout is early and it reverses to CZ and make breakout orders at loss at other side of CZ.

- There is no trade to offset losses in early breakout cases

- Only trade when breakout, so missing some opportunities to trade inside stable CZ. Inside CZ trades (from second half of NY and Asia section) can accumulate profit for possible losses of sudden revenge during Europe and US sections)



My suggestions include:

- Enable swing trades inside CZ

- For breakout trades, immediately move to breakeven after the trade gains some profit ( I would say it a SafeZone). If market goes into right direction, then great news, wait for trailing, full TP or portional TP…) If market reverses, then we have breakeven and wait for new breakout signals to re-enter order). Using re-entry might cost some spread pips, but I think safe trade will make profit in long run)


- If price reverses back to CZ, (when breakeven has not been made) just against the current breakout order, then trigger reversal order to offset possible losses of early-breakout order. This reversal order is processes same as swing trades inside CZ)



These are just basic suggestions, if you are interested, then I will prepare detailed EA prototype with full Order Entry, Order Exit, Order Protection rules, and we can discuss in all possible cases.

I would be happy to have discussion with you and Xux99 on skype (my id: vinhlq_umt).

Thanks and looking forward to hearing from you.

Vincent

 
 
  • Post #3,899
  • Quote
  • Nov 4, 2012 3:09pm Nov 4, 2012 3:09pm
  •  dojirock
  • | Joined Apr 2010 | Status: Show me your Pips! | 205 Posts
Vincent,

Just my two cents..... you posted the following:

- For breakout trades, immediately move to breakeven after the trade gains some profit ( I would say it a SafeZone). If market goes into right direction, then great news, wait for trailing, full TP or portional TP…) If market reverses, then we have breakeven and wait for new breakout signals to re-enter order). Using re-entry might cost some spread pips, but I think safe trade will make profit in long run)
My take on this is on many of the breakout trades, price will retest the level before it continues to move in our desired favor. Many instances it doesn't. By moving to BE immediately, will in many cases cause a BE trade.
SSBO is about 1:1 RR or more. Letting it run and taking profit or getting stopped out. The indicator as is works on so many levels, by hard coding it to take the BE, I would from my experience, for see less wins.


- If price reverses back to CZ, (when breakeven has not been made) just against the current breakout order, then trigger reversal order to offset possible losses of early-breakout order. This reversal order is processes same as swing trades inside CZ)
Again, by changing this perameter, your essentially taking a successful method to a new realm of from what I can see, a less efficient place. Many times price retraces as far as 125 percent back into the breakout area then continues to give us the desired direction. Price can only do two things, go up or go down. By trying to analyze and take swing trades within the cz zone changes the whole dynamic of its success rate. In hindsight, we can all find reasons to change the entry and reversal, but without not knowing the total effect on the system that all ready exist.

Don't take this wrong either, but i question your logic and knowledge of this method due to your member status, and number of post?

Just my take....

Doji

 
 
  • Post #3,900
  • Quote
  • Edited 4:11pm Nov 4, 2012 3:56pm | Edited 4:11pm
  •  vincent_le
  • | Joined Nov 2012 | Status: Member | 11 Posts
Hi,

Quoting dojirock
Disliked
,

My take on this is on many of the breakout trades, price will retest the level before it continues to move in our desired favor. Many instances it doesn't. By moving to BE immediately, will in many cases cause a BE trade....


--> you are right. but most breakouts goes with strong move! SafeZone will help to avoid immediately BE. In case of retest, what is re-entry for?

I am aware that this is difficult for mannual trades, but for EA it should be able to deal with that.


Ignored
Quoting dojirock
Disliked
Again, by changing this perameter, your essentially taking a successful method to a new realm of from what I can see, a less efficient place. Many times price retraces as far as 125 percent back into the breakout area then continues to give us the desired direction. Price can only do two things, go up or go down. By trying to analyze and take swing trades within the cz zone changes the whole dynamic of its success rate. In hindsight, we can all find reasons to change the entry and reversal, but without not knowing the total effect on the system that all ready exist.


--> For CZ trades, it is optional. I personally like to use it to offset possible losses in cases of strong reversal and CZ is large enough.

...
Ignored




Forgive me, I am newbie at FF. I registered account just 2-3 days ago.

Happy trading

Vincent
 
 
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