Extracted Thread (per thread starter's request)

Dont normally trade AUD but this looked good See Awol caught it too.

Thanks for the replies guys. Will read some of the stuff over to make sure I don't miss anything. Promised
Nobody posted anything on the EUR/USD, it looks like a bread and butter trade to me at this stage so I definitely am missing something.

Anyway Happy holidays!

Wish you well with Euro trade but your chart tells me its in a short term down trend. Here's the 4 pairs i monitor at the moment - only obvious trade was the AUD. Missed the E/J due to time of day.

I have taken a Long on EUR/USD 1.32207 TP=24pips and SL=30.7pips.
Green pips to all !

I have kept a spreadsheet of all my trades since the first Monday of the month. I expanded my portfolio of markets after a couple of weeks which has increased my pips per day and also helped recover losses from any losing trades. In essence this has been my first proper month with my settings bolted down for the next 100 days to give a true live backtest.

I use a 0.5% of bank stake and compound up and down depending on what happens. 3 trades is the maximum I'll have going at any one time and pairs like the AU and NU are highly correlated so I won't trade them at the same time...instead I'll pick the one with the best r:r ratio and/or higher win percentage although they are closely matched for win percentage (something like 0.2% difference).

I trust in my settings entirely. Yes three trades could go sour at once, but I would simply compound down in that scenario for the next trade. I have also worked out the win ratio for my trades this month which stands at a whopping 83%!!

Its been a good month for sure, but I've been using SSBO long enough to keep my feet on the ground and not get carried away.

My plan of action is to reduce my stake % of bank once I hit various milestones and thus reduce my risk down until I get to a situation where my stake size is sufficient enough to stay fixed. Everyone has goals and my first goal is to get my stake size to £5 a pip.....then to £10 a pip where I will stay for the foreseeable future until I build my bankroll up.

This is my plan. FXH you may feel I am being too aggressive at the moment. As always, I am interested in hearing your thoughts positive or negative.

Bear in mind also that I do not use MT4 for live trading....I use my MT4 demo for trade signals and etx capital for live trades so my results would have been much better using the EA I believe.

Good results - see you gave the Dax a go. Also use MT4 on demo for charting but IG Index for actual trading.

There is merit in me dropping my stake size down if I'm being honest. I have a had a good month so far with little loss but I'd have still doubled my account using a more conservative 0.1% stake which would have reduced the drawdown further. I'm always looking to improve and this might be yet another way to do so.

I'll wait for the FXH analysis and go from there...

Difficult to improve on those results - got me looking at NZD/USD which seems to trend well. Think the way ahead for you is keep doing exactly what you are doing but look at more pairs? USD/JPY has been interesting lately.

An other trade just took now on GBP/USD.

I caught that - but what about this one this morning.

No trade on indices except DAX30

TP 14pips hit !
But I have a problem, I don't touch anything and the box has changed so my trades too

Hi i have a stupid question!

I have the latest version of the ssbo indi and i see on everybody`s chart who`s using the indi has a "net pips" display on the bottom!

But for some reason i`m not able to see that in my display.

Can anyone help me out plz?

Download the latest version at the first post:
http://www.forexfactory.com/showthread.php?t=302007

In the settings you must have:
Chart Display: 3

IS it ok ?

A question to ponder .....

FxH: I realize that in the past you have indicated that the trend is not necessarily one of your decision criteria for a SSBO trade. I offer the following observations and request some input from other traders.

I researched the last 100 days of CZ's and trades using the most recent indicator. With my EU 15M settings, 25 CZ's were identified. Depending up slight variations in the settings, the first trade was a winner 63% - 68% of the time. Trade sets got to the 3rd level trade twice, and 4th level once. This set up yielded 876 net pips. For those trade sets that went past the 2nd level trade, drawdown was in the neighborhood of 150 pips before a profitable close.

The reason for the research is that I have been looking for a way to improve my win ratio and reduce the martingales. So, the following observations:

- 25 CZ's

- 23 First Trade entries were in the direction of the 1H trend. 16 winners, 7 losers. 70% win rate with the HTF trend. Net pips = 392
- 2 First Trade entries were against the HTF trend. 1 winner, 1 loser. Net Pips = 18

- for the seven 2nd level trades in the "with trend" category, 6 entered in concert with the 1H trend that was in place at the time of the 2nd entry, 1 entered counter trend. of the 6 "with trend" entries, 5 winners, 1 loser. The counter trend entry was a loser. 5 wins, 2 losses. net pips = 250

See table below:

So, the questions that come to mind based upon this small sample;

- Is it worth the risk to take trades against the HTF trend ? 70% win rate with HTF Trend.
- For 2nd level entries, is it worth the risk to go against the HTF trend? 71% win rate with the trend.
- If I adopted a strategy of trading the breakouts only in the direction of the HTF trend, based upon this sample, I could achieve 91% win rate at the conclusion of the second level of the trade set. Is it worth the risk to go for the third level trades on the two remaining losses ?


These observations are only about SSBO trades. I am not making any observations about using the CZ as a pivot zone for additional trades that may or may not conform to the SSBO rules.

Comments ?

T

Yes thank you very much

eurjpy continues to impress....

+ 20 on cable for the day took a short on eurodollar - might regret

Picture says millions words

The good news : My settings, which have not been changed since about 1 1/2 months, got tested up to the 3rd trade and ended on the green side.

The bad news : I was sound asleep and missed the entry