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  • #5,741
  • Mar 2, 2013 11:32am Mar 2, 2013 11:32am
Quoting Belmont
Do you see what I see?
...
Weekly update: off we go (highlighted the CZ this time).
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Also, action on my favourite E/U this week:
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I trade the re-test to improve R:R. I traded the first hand-drawn CZ while on the go. Took a while to hit TP. Watched but missed my other two entries due to life commitments.
  • #5,742
  • Mar 2, 2013 7:19pm Mar 2, 2013 7:19pm
Quoting fexitrade
yeah me to bro but thats not the ssbo method - 2 bars outside the buffer then go - mind you ive noticed that this rule is not strictly adhered to

i suppose its meant more for slow crawling breakouts but that sheer speculation.

Thats why its a discretionary system maybemaybe....

thanks for the feedback as always but for the time being im going to stick to 2 bars then go

maybe a rule of thumb ratio could be derived where if pa has moved x pips in this direction the 2 bar system can be overuled and 1 bar could be used instead
The no. of candles closed to confirm an entry just depends on how aggresive or cautious you want to be.

Definitely discretion plays a major role even for entries. If it breaks out of a cz 50 pips on the first candle, I personally am not going to enter on its close or second or third, because I would be expecting a retrace or it would require me to have too large of a stop loss. So its difficult to have a fixed rule.
  • #5,743
  • Mar 2, 2013 7:21pm Mar 2, 2013 7:21pm
Quoting inaki
I understand that a lot of work and effort, I respect and read the thread where I left off and do the hard work, like you, see you soon, greetings and good tradig.
I apologize for my English, translators ....
no problems, but honestly the answer to your question is on the first page..... in fact its looking at you anytime fxhard posts....
  • #5,744
  • Mar 3, 2013 6:23am Mar 3, 2013 6:23am
Quoting forexhard
In and out in less than a minute. Quite possibly the easiest pips I'll make all year.

Hi FH!
A big thank you... for developing such a wonderful system, and an even bigger thanks for sharing it with us. I've been reading through the whole posts.. as u have instructed inthe first page, and it really took quite a few days to finally get here. I had came up with many doubts.. which most of them got cleared automatically inthe posts further down the line. I've started demo trading and hope to start trading in real account with micro lots, so as to get it going in a serious way... will start posting the charts, as I go along.

One doubt, if I may ask is quoted above... wht was the basis on which U took the trade on the post quoted above? I also came across another question on the same post by someone else.., when u were offering to clear any doubts a few pages before. I could not find an answer given to that? or did I miss it? pls help...!

And once again.. thanks for sharing your insights and knowledge in all these pages...! Nice of you...! Looking forward to be active inthe thread... inthe days ahead...!
  • #5,745
  • Mar 3, 2013 7:31am Mar 3, 2013 7:31am
Quoting m00nman26
My First post here. Tried multiple variations on the indicator and found that using low quality CZ's (4bar x 15 mins:25pips) with low QTP gives excellent results on the EUR-JPY pair.

Only thing is that usually, when I receive an alert, i would have missed out the actual entry price by between 5 to 15 pips. What I generally do is to put a buy/sell limit and set the QTP and SL accordingly, hoping for a retracement, though I believe that increases my risk.
There are settings which will give you similar 1st & 2nd trade win ratio results but without waiting for any bars to close, i.e. enter the trade on a break of the cz + buffer. This also gives you two other benefits.

Firstly it fixes your maximum SL at the height of the CZ + any buffer (on usdjpy for example my SL is fixed at 20.1 & 40.2 pips for trades 1 & 2 so I never have to worry about the pip range of the first bar (or 2nd 3rd etc...).

Secondly it allows you to set up the trade in advance using buy & sell stops.

I'm know that there are ea's out there (I came across one a few years back but no idea where it is and havent as yet bothered to search again) which also include a feature of OCO 'one cancels the other' so you dont even have to worry about deleting the opposite trade as it would be done for you. I'm also certain that they include a 'slippage' feature' as you dont really want slippage of more than a couple of pips on a tight QTP. If your extending beyond the initial breakout then you would need to rethink the use of such a robot.

By the way, if your considering using these kinds of settings on other pairs, beware the spread and be especially aware of slippage, theres on a lot of QTP to play with.
  • #5,746
  • Mar 3, 2013 8:30am Mar 3, 2013 8:30am
Getting ready for another week on cable. Which way will it go Monday? Orders in both sides of the forming box.
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  • #5,747
  • Mar 3, 2013 9:01am Mar 3, 2013 9:01am
Quoting C345
Getting ready for another week on cable. Which way will it go Monday? Orders in both sides of the forming box.
Too wide for my taste, but I will be watching it.
  • #5,748
  • Mar 3, 2013 9:11am Mar 3, 2013 9:11am
Quoting Jayf19
Too wide for my taste, but I will be watching it.
I hear what you say but take a look at my 60 min chart it's quite interesting.
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  • #5,749
  • Mar 3, 2013 6:11pm Mar 3, 2013 6:11pm
45 pips on GBPAUD.
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  • #5,750
  • Mar 3, 2013 7:54pm Mar 3, 2013 7:54pm
Quoting Redwing
45 pips on GBPAUD.
Hi Redwing - What is your result when you take account of the spread ?
  • #5,751
  • Mar 3, 2013 8:29pm Mar 3, 2013 8:29pm
Similar result on GBPAUD but trying it differently. Note only 28 days. Yeah, I know but ya gotta experiment.
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  • #5,752
  • Mar 4, 2013 12:42am Mar 4, 2013 12:42am
I'm in....
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  • #5,753
  • Edited 3:02am Mar 4, 2013 12:49am | Edited 3:02am
Yup, me too. An hour or so later - Geeez - what a chump. Didn't even look at news. Kicks own a**
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  • #5,754
  • Mar 4, 2013 12:52am Mar 4, 2013 12:52am
anybody talks AUD/USD breakout???we go long for aud

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  • #5,755
  • Mar 4, 2013 12:57am Mar 4, 2013 12:57am
Quoting khol_hands
anybody talks AUD/USD breakout???we go long for aud

Attachment
what the hell are you talking about? (in my best Homer Simpson voice)
  • #5,756
  • Mar 4, 2013 1:25am Mar 4, 2013 1:25am
Quoting oztrader79
what the hell are you talking about? (in my best Homer Simpson voice)
Ha ha - not one I trade but looking at the chart think I'd be asking the same question!
  • #5,757
  • Mar 4, 2013 1:46am Mar 4, 2013 1:46am
This is a great free app for giving you news alerts: http://www.forexfactory.com/showthread.php?t=310910
  • #5,758
  • Mar 4, 2013 2:51am Mar 4, 2013 2:51am
This is a good one also : http://www.forexfactory.com/showthread.php?t=326551&highlight=newscal+107

I used to use Hanovers but some idiot caused him some problems and I switched to this.
  • #5,759
  • Mar 4, 2013 3:47am Mar 4, 2013 3:47am
I've been testing the latest SSBO indy from pg. 371. What I've found is that the spread feature only deducts the spread from the win/loss total, it doesn't influence the win/loss ratio. Something to take into consideration... This would be a "nice to have" upgrade for possible future releases.

(you can test this for yourself by going down to a 1 minute chart and putting in a fixed tp and stoploss of 15. If you test with the spread at 1, and then change it to 4, you'll see that the win loss ratio isn't affected at all over a large sample of trades.)
  • #5,760
  • Mar 4, 2013 5:12am Mar 4, 2013 5:12am
Quoting AltosTrader
Hi Redwing - What is your result when you take account of the spread ?
on this trade it is still 45 pips as I set the TP to be 45 pips above the entry price, so it came out to 44.8 pips. If i go back and let the indicator calculate the potential Net Pips it does reduce the total shown in the post above by about 300 pips over the past 100 days. Still worth keeping an eye on as a potential pair to trade.

I have put the indicator on a handful of pairs to see how it does. I posted this one as i had not seen it shown much. Over the past couple of weeks EURAUD has been a good one for me as well.
39755197 2013.03.03 23:25 buy gbpaudm 1.47462 1.47060 1.47910 2013.03.04 02:07 1.47910 44.80
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