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  • #4,841
  • Jan 15, 2013 5:54pm Jan 15, 2013 5:54pm
EURJPY on M15. Nice example of how price can arc back towards a cz
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  • #4,842
  • Jan 15, 2013 8:28pm Jan 15, 2013 8:28pm
My King pair e/j comes thru again!
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  • #4,843
  • Jan 15, 2013 9:29pm Jan 15, 2013 9:29pm
new setup on eur/aud
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  • #4,844
  • Jan 15, 2013 11:03pm Jan 15, 2013 11:03pm
Dojirock, I have noticed on a few of your charts no price indicators just the CZ's. To be honest the first time you posted a chart like that I was bewildered. Now I am intrigued with the concept. I am going to devote one of my charts to the same look. Reason, really seems like it would force me to follow the plan instead of price action. What I am giving up is market information. The benefits I think I see are worth the test to see what I think about it. Thanks for being outside the box.
I make money anywhere in the world by taking orders
  • #4,845
  • Jan 15, 2013 11:18pm Jan 15, 2013 11:18pm
Quoting SedonaPipper
Dojirock, I have noticed on a few of your charts no price indicators just the CZ's. To be honest the first time you posted a chart like that I was bewildered. Now I am intrigued with the concept. I am going to devote one of my charts to the same look. Reason, really seems like it would force me to follow the plan instead of price action. What I am giving up is market information. The benefits I think I see are worth the test to see what I think about it. Thanks for being outside the box.
Hi sedonaPipper,

Couple of reasons I turn off the price action. Easier to see my points on the statistics and trade by them. I use various time frames, not just the standard, which is a ongoing process for me which proves to me weather i'm using a 15 min or a 13 min chart or a 21 min chart SSBO works. Now if we talk price action there are alot of coincidences that also happen in and around CZ zones. Once one trust the stats with a little observation, it works!

Another example is throw a stochs or macd on the chart... What happens.??? for me, i stop looking at the cz's and price action and find I fall into the trap of trying to trade lagging indicators... my point being, if the cz's were an indicator, (which I dont consider them that) I would stop looking at the stats and some price action which would decrease the success rate and ease of this wonderful way to trade.

hope this makes sense... im not condoning indicators, im trying to point out most of us stop "seeing" what really happens when they are on our screen.

doji
  • #4,846
  • Jan 15, 2013 11:29pm Jan 15, 2013 11:29pm
SedonaPipper,

Just another thought also and this may help the noobs out there....

I have two ways of trading, price action, and SSBO. In both instances and threads, it has been said many times, by the successful traders, "nobody knows what price is going to do, it may go up it may go down" "its how we react when it does make these moves that determines our success"
With the SSBO, FXHard has figured out the reaction sequences needed to be successful. Does he change it every day? I think not, not the core principle of it. He has blessed many here by that hard work.(and i'm including the coders that have made it possible too).

Same thing when i price action trade, I don't know if price is going to move up or down, but I have a set plan of reactions based on what I see that gives the edge I need to be successful at it.

Both these methods, in a sense able us to trade somewhat blindly. We know either we will win or lose and what those r:r's will be per trade at a minimum.
I'm sorry if i got of track here, but this is something a lot of us read and ignore on our trading journey. Its not until we start to believe it, we see success.
  • #4,847
  • Jan 15, 2013 11:42pm Jan 15, 2013 11:42pm
DojiRock, thanks for the info - in my snide mind I was going to comment on how you have learned to true essence of trading naked - no price action. I look forward to my test. In this case I am not looking to find a better setting really I am looking to limit the number of decisions I feel compelled to make since as you said - we never know what the next tick is going to be. One of my tendancies is to short myself a few pips by manually closing a trade before it hits my target. I am thinking this may help me overcome my natural tendency to take it before it goes away. Trading from that place of fear is ruthless emdotionally.

thank you for sharing your thoughts.
I make money anywhere in the world by taking orders
  • #4,848
  • Jan 16, 2013 3:23am Jan 16, 2013 3:23am
My patience is being thoroughly tested this week. On the 7 pairs I monitor I haven't had a cz form since 11 Jan (1 cz) though i did have 4 on the 10th. I might have to find a couple more M5 or M15 settings to keep me occupied.
  • #4,849
  • Jan 16, 2013 8:30am Jan 16, 2013 8:30am
Quoting hxtrader
My patience is being thoroughly tested this week. On the 7 pairs I monitor I haven't had a cz form since 11 Jan (1 cz) though i did have 4 on the 10th. I might have to find a couple more M5 or M15 settings to keep me occupied.
Hang in there hxtrader, they will come and be worth the wait.
  • #4,850
  • Jan 16, 2013 9:13am Jan 16, 2013 9:13am
I really like how different people here support each other. Great sportsmanship! I have made 3 trades so far this week, one reached TP , 2 got stopped out at BE. Yesterday I missed a very good move on EJ. Now I am looking for a short entry on GU... Good luck!
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  • #4,851
  • Jan 16, 2013 11:17am Jan 16, 2013 11:17am
Is there any way i can get notification on CZ prize zones with the indi and also notification of the creation of CZ ??
  • #4,852
  • Jan 16, 2013 12:00pm Jan 16, 2013 12:00pm
Quoting traderbynite
Is there any way i can get notification on CZ prize zones with the indi and also notification of the creation of CZ ??
Hi traderbynite,

can you clarify? notification on creation of cz meaning when they 1st appear....what do you mean by cz price zones?
  • #4,853
  • Jan 16, 2013 12:28pm Jan 16, 2013 12:28pm
Quoting traderbynite
Is there any way i can get notification on CZ prize zones with the indi and also notification of the creation of CZ ??
I think you just need to search this thread for "push notification".
  • #4,854
  • Jan 16, 2013 12:37pm Jan 16, 2013 12:37pm
Quoting Belmont
I think you just need to search this thread for "push notification".
I am currently using the push notifications and it is working great, but I think what he is looking for is a notification when the cz has formed before a trade is triggered. This way you can place limit orders instead of waiting for the order to trigger to send the notification. If the market moves quickly you can loose 5 to 10 pips and even more. The EA will eliminate all of this!
  • #4,855
  • Jan 16, 2013 12:42pm Jan 16, 2013 12:42pm
How to test your settings:

Here is a method I'm using to check if my box settings are any good:

When you play with box settings, set your days back to only 100. Tweak your box until you are comfortable with your results. Now let's assume you have 200 pips over 100 days. Now set your days back to 200. If your settings were any good you should at least double the pips without adding too much risk. Add another 100 days to it. Now you should get +- 600 pips with not too much more risk. Finally take it back 400 days and see if you end up with +- 800 pips. A steady box setting should produce steady growth over a period of time with limited risk increase.

Very important is to make sure you have enough past data to go back 400 days otherwise your results will not reflect a true figure.
  • #4,856
  • Jan 16, 2013 1:11pm Jan 16, 2013 1:11pm
gbpusd is still producing nicely!
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  • #4,857
  • Jan 16, 2013 2:44pm Jan 16, 2013 2:44pm
When a CZ is created a notification will be sent with possible pricing along with it
  • #4,858
  • Jan 16, 2013 2:57pm Jan 16, 2013 2:57pm
Quoting fxglider
How to test your settings:

Here is a method I'm using to check if my box settings are any good:

When you play with box settings, set your days back to only 100. Tweak your box until you are comfortable with your results. Now let's assume you have 200 pips over 100 days. Now set your days back to 200. If your settings were any good you should at least double the pips without adding too much risk. Add another 100 days to it. Now you should get +- 600 pips with not too much more risk. Finally take it back 400 days and see if you end up with +-...
How far will MT4 go back with data and can i have it update every sunday
  • #4,859
  • Jan 16, 2013 3:12pm Jan 16, 2013 3:12pm
Quoting dojirock
Hi traderbynite,

can you clarify? notification on creation of cz meaning when they 1st appear....what do you mean by cz price zones?
Exactly when it first appers
  • #4,860
  • Jan 17, 2013 3:29am Jan 17, 2013 3:29am
The mental strain on trading real money and missing good trades because of being over careful is just horrible. Missed a huge move on EJ the other day and missed the EU move just now. In fact I had an open position that I closed at BE right before the big move. I can't find discipline. I have no idea how I can trade larger sums of money if I cannot handle the 20-30EUR swings... I have even printed out a huge paper that says "I don't care about the moeny!!! I care about following the system!!!"
Anyway I have opened a UJ position and I am going to leave the PC (with my SL and TP in place ofcourse) ... it would be pretty sick if I hand picked the loser and missed the winner...whatever happens happens...
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