Extracted Thread (per thread starter's request)

Just wanted to check in and share my two pip machines, and to show my appreciation to the folks who make it possible.

Thanks, FH and XuX for the updated indicator. Im not sure what the improvements were, but from the time Ive spent with it so far I trust its now even better.

As for my settings, I know the pip count isnt the biggest, but I prefer to keep the winning %'s reasonably high while keeping the CZ's per week occurring often. The anti-martingale is also a big help! Thanks again for that!

I know that "100%" is never guaranteed and i have seen it happen, my limit is 6 across all pairs and this has only happened once across 6 pairs within the past 5 months and even after i still recovered my losses and ended up with a little profit. Also i have a strict max 40 pip sl rule and only trade certain times of the day so that helps keeps things in check for me. When it starts to get into the fourth trade i also progressively move my SL the largest one of my trades (using the basket technique which was discussed awhile ago). Its been working for me and just wanted to share. It may spark some other ideas, instead of just simply increasing lot sizes.

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.

Thank you for your thoughts, I went back and reread your first post and pulled this out as the core concept of your approach. I will chew on it for a couple of days, its very close to the anti martingale approach I am working on which was to extend my take profits with each subsequent trade in a set. What I like about the anti martingale is that the inital lots are bigger where with the martingale I was using fewer lots up front so I could add more lots with the martingale. that did not work for me - I don;t have big enough cahones for the fifth trade.

Hi everyone,


Fxhard has repeatedly said this is essentially a naked trading system. I think you can get too caught in tweaking the settings of the indicator. Regardless of what the indicator says, I simply look for long CZ's and places my orders accordingly. Sometimes the indicator will say there is a trade, but you need to use your discretion as to whether it is an A+ CZ or just an average one.


The great thing I love about this system is thatI found my trading has shifted to being concerned about how to best manage trades I am in - not whether I should enter a trade or not. Why? because the CZ's make it clear if a trade is there or not.


So maybe we should just post our trades with comments, rather than posting about how we tweaked the settings? You learn more from actual trades.


Anyway, I really feel my trading has taken a real turn for the better, after spending the last few years trying support and resistance, supply and demand methods etc but never having much luck.


Fxhard, I am very grateful you shared your knowledge and have done so for free.


Cheers,

Ben

fxh....you are amazing and brilliant.....my confidence in trading has improved cos of your strategy...i may not be very good with the indicator but i still prefer the initial boxes...Thanks

trade this morning below

(Sorry, Ben, one last tweak... Had no time to post it yesterday.)

When I suffered a massive drawdown on G/U a couple of weeks back during my 100-day forward-test, it made me think and re-think. Merely playing with the settings would've been pointless. I've come up with another idea:

my 4+3 drawdown (no Martingale), see the two red circles


Roughly the same interval, adjusted:


The biggest concern is that missed run downstairs, forward to the drawdown.

Just to compare, a similar scenario on U/J:


This is all backtest, but still -- settings are fine, but it shows the importance of visual backtest: there's a massive trend and we have only one trade.

Adjusted. Watch the perfect stairsteps:


So I was thinking about missing stairsteps in a trend, with more success in a range, when it 'clicked'.

(hint)


This is not native in Metatrader, but I don't see it as a deviation from the SSBO method: we are looking for consolidations, the indi is a plus.

Belmont,

Your pics reinforce for me what i said before. Many of those trades the indicator said to take, I dont think I would've taken. Also using some manual boxes would've snagged that larger CZ in the red circle.

Also, we want to take the best CZ's with the highest probability, to determine this the trader has to uses his own discretion.

But yeah, interesting pics for comparison

Hi there FH,

I've Just read your thread for more than 1 week.. And it's amazing.. Naked trading & simple not 1000.000 indicators and not knowing when to get in & out.. And 've been making and placing boxes all around the charts for the whole week.
Looking with the indi in a demo account and on my live account for just microlots..
Today the first 2 live-trades;



+60 pips YEAAAAAAAAAAAH thanks!

Greetz & thanks for the system! Hope to make some pips!

Eastclintwood

Yes, you definitely have to adjust this method if the instrument is trending well. It is worth considering letting trades run rather than closing them at
1 : 1 or whatever level stipulated by the indicator. Just my opinion. Say hi to Forexhard for me and thanks for all the hard work and research of this strategy.

Belmont... Everyone... you can go on tweaking your indicator for another 100 days and you still won't learn what you need to learn. You are never going to learn the lessons needed until you commit to the 100-day forward test. Which means picking a group of settings, and never changing them AT ALL for 100 days of live micro lot trading. And it will help if you keep a detailed trading diary too. (Although none of what I just said applies if you are drawing your CZ's by hand like Eastclintwoo is doing. Except for the diary. ALWAYS have a trading diary, regardless.)

I recently got an email from a member that told me they went back re-read post #1 and realized everything they needed to know was right there the whole time. The whole system, the whole thread, condensed into a single post. He finally got it; it finally clicked for him. I want everyone here to find that same place, but there's just no way to get there but by your own path of understanding. This guy finally found his. I know that sense of relief well. And I recognize when someone else has found it too. So I will say this: the tighter you hold on, the longer it will take. Like I said a long time ago: the Chinese say Wei Wu Wei: to do without doing. Or my version of it: it's so simple it's hard.

Give yourself 1 week with the indi to break it in. Or for it to break you in, depending on your perspective (LOL). During that week anything goes. Tweak all you want -- modify, experiment, go crazy. But starting on day number 8 you shouldn't have to tweak any given chart more than 3 or 4 times TOTAL to find an acceptable sweet spot for forward testing. Which takes what, 2 minutes per chart? Which, if you're doing as I say, you won't change again for at least another 100 days.

Do these simple things and you will most likely become an SSBO trader. Every delay... every layer of complexity... every excuse... every justification, will only delay your success that much further.

'Every delay... every layer of complexity... every excuse... every justification, will only delay your success that much further'

This made me laugh and you are so right. Look for a reason not to do something and you will find one. Back test as much as you like but the money is on the right hand side of the chart. Good post FXH.

I live for this type of chart. CZ from last week breaks up for 180p. CZ forms on the higher level and breaks down for 150p. Then a 3rd CZ forms exactly on the same level from last week. Another CZ, another breakout, more pips in the bank. And best of all, price is consolidating again exactly within the CZ from last week and today. Love, love, love it!

Todays results.

GBP/USD 25 pips
USD/JPY 35 pips
EUR/JPY 25 pips
EUR/GBP 25 pips
CHF/JPY 33 pips

143 pips total. Very nice, most were in before breakfast.

Like the new sig FH.

EUR/AUD aiming for a quick 20 pips

President Obama is starting his SOTU address at this exact moment. It will be very interesting to see where price is at a couple of hours from now...

In the lobby:

"Can I get the lift for you sir?"

"No thank you, I'll take the stairs"

Ok I am spinning my wheels, does anyone know how to get the signals larger - mine are so small I can hardly see them. I have tired all kinds of things and am getting nowhere. If its like my car today I am really going to be embarrased, you know the story - car won't start, get it towed to my repair guy and he sits in the seat turns the ignition and of course the car starts and purrs. That is tough on the self image.

I might as well post my last trade.

Great pic fxglider, but the thing that I thought when I saw it was, anyone/any system can make money in a trending market. However, what's great about SSBO is that it can take advantage of any market conditions, trending, ranging, erratic - that's what makes it so awesome.


We are very lucky to have this system, which is so elegantly simple, shown to us.

Cheers,

Ben

I guess this is stating the obvious, but just to check, why don't you just zoom in on your charts? All objects are displayed bigger.


Cheers,

Ben