Extracted Thread (per thread starter's request)

And tweaked further the EUR/USD pair. I am using the indicator what has been posted on the first page.
If anybody has updated version or newer one let me know. still reading the forum in the meantime.

Latest indicator is in post above yours

Yes, that's the one I have. actually v2.2 anyway, Here something for EU on the one hour.

Hu - this is the second post that you have chosen not to show your range or bars - I just wonder why? I find its the range and bars that tell me if I am dong ssbo or just data mining.

Everyone, two things as we start a new week:

First, the latest version of the indi is over here: http://www.forexfactory.com/showthread.php?p=6432954#post6432954

Second, we don't attempt to keep our charts secret in here. SSBO regulars take pride in being helpful, honest and transparent. So we post charts often, and we don't crop them down to nothing. When in doubt, use my charts as the example to follow; I always delay posting them until the trade set is closed (as explained in post #1), but I never try to hide any of the information found on the chart once posted. An example of how I usually post a chart is attached:

I will post the setup when I'm home. Don't forget I am a long term trader and not for quick 30 or 40 pips.

Hi Forexhard,

This is my first posting on FF. I've read multiple threads here over the last several years, and at other forums as well. Your thread definitely stands by itself. SSBO, is nothing short of a work of art, and many thanks to you, and the other members who have contributed.

I've been trading it somewhat successfully for the past several weeks. I say somewhat, not because of any limitation of SSBO, but rather of my own. The system works wonderfully.

The issue I have been facing is one of time. I'll briefly explain. I live in the Pacific Northwest. Often times, the CZs will form during the Asian session, and I'll see a CZ box form at around 8pm to 11 pm PST (my local zone). I'll place my pending orders manually and then go to bed, and try to wake up around 2am my time to delete/replace any orders that need to be adjusted, due to the market moving in the opposite direction.

Unfortunately, I have an intense, 8 to 6 day job, and getting up at 2 am, and again perhaps at 4 am, really tends to wear one down.... Also, even despite, getting up to check on trades in the middle of the night, I find that I've already missed the opportunity to adjust the pending trades...

So my question is.... Is there a script or EA to manage the orders, and run the 'limited Martingale' trading set?

I looked at an EA Steve Hopwood put together on the thread, but I couldn't quite get it to work right.... Also, I don't want anything completely automatic.... (I've lost $$$$ on robots), but rather an EA (or script) I could just drop onto the chart, and put in the buystop and sell stop levels, along with starting lot size, obviously, and then have it execute the tradset, then shut itself down afterward....?

If the EA/script already exists, or is on this thread already, and I've missed it, I apologize. I have read thru the entire thread (the first 100 posts 6 -7 x), but I'm admittedly a bit of a slow learner at times...

Thanks again for a simple, effective, simple, profitable, did I mention Simple? trading protocol that actually works day in day out.

Lumberjackmd

PS - In the spirit of contributing to the thread, although my trading talents are miniscule, if embarrassing, I have noted something curious, that may or may not be noteworthy...

Broker choice matters. One would expect the 'Net Pips' amount to vary, obviously, from the different feeds, but often my Caribbean broker will have a Trade Set Win Ratio of less than 100%, whereas the Scandinavian broker I use will be at 100 percent, on the exact same price pair chart, same TF, same total number of bars, same everything.

This particular Caribbean broker also occasionally has episodes of service drop-out during regular trading hours, which of course, is simply maddening.

I mentioned this a while back and to this day I am still having success with it. In addition to using martingale on lot sizes for recovery trades why not use it for your TP in pips as well. In the chart I posted, my original tp is 20 pips put i got stopped out on the first trade for 25 so my new tp becomes 25 pips. Now on the second trade i also got stopped out for 52 pips. so in total i am now down 72 pips. instead of on the third trade targeting the same 25 pips i now target 53 pips and as you can see it hit. So not only was i increasing my lot sizes i was also increasing my tp as well. It goes back to me thinking that with every failed trade the next breakout will breakout for much more and that is one of the key things i look for when optimizing my settings. As for how i came up with the 53 pips its simply each loss added together times a percentage of the total loss in this case it was 0.7 i.e. (25+52) * 0.7 = 53.9

so this is my whole trade process.

1st trade
0.03 lots TP 20 - Stopped out for -25 -$6.00

2nd trade
0.04 lots TP 25 - Stopped out for -52 -$20.8

3rd trade
0.06 lots TP 53 - TP hit for 53 +$31.8

End result +$5.00

Nick what is your limit for consecutive loses? What is your stop on the third trade? Sometimes its not worth the risk even though the indicator says 100% on the third reversal. Something to think about. How do you decide when to take the third trade?

LUMBERJACKMD
I have been using this absolutely sensational money manger that will do all you need and more ... BRILLIANT

Find it here http://www.forexfactory.com/showthread.php?t=371147

StealthTreadeManager - once you have used it you wont look back

And it is freely given

thanks, rivet! looking forward to getting better sleep with this!

Keeping my eye on EUR/GBP

Hi lumberjackmd - Further to rivets advice I would suggest you subscribe to the Stealth TradeManager Forum. fxtr51 has quite frequent updates and it is always another little improvement.

wonderful morning everyone

@bmpearsall

I think you could tweak those settings for that pair and boost your tp. Here is my chart for the pair. Shorter days back but this has been very reliable in the present market. Took another 25pips off this already this morning.

I absolutely love it when this happens.

alas i successfully have the indicator installed in my system.... any specific settings pls...anybody who has tried it

Hmmm interesting, I like the win ratio what is above 80. I got it currently like this. more risk but bigger pips.

And my EU setting one.

@hutrader.

Interesting strategy but not for the risk averse such as myself. I am wary of martingaling, I currently have a 2 times multiplier as I forward test but I am really looking to trade only the breakout and perhaps 1 recovery. I have pairs this will suit and pairs I am still reviewing. For now I have only micro lots in the game but after a 100 day testing period I will be looking to trade only my most reliable pairs with larger lots. I'm hoping to trade like the S.A.S clear houses, in and out in 30 minutes, job done, 0 casualties.

Not criticising your method, it certainly seems to be paying off. I just prefer slow and steady myself, also, life has a way of getting in the way when trading a system like this, I would hate to be down 3 trades and miss the winner due to a school run or something. I'm very busy during the day so this would add a lot of risk that the charts won't reveal.