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  • #6,221
  • Mar 28, 2013 4:08am Mar 28, 2013 4:08am
Nice finish on GU

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  • #6,222
  • Mar 28, 2013 7:30am Mar 28, 2013 7:30am
Not a good week for myself; I think I got too excited with the new indie that I tried following too many pairs at once.

I'll stick to my basic ones for now
  • #6,223
  • Mar 28, 2013 7:31am Mar 28, 2013 7:31am
This morning I opened this chart and refreshed it and it had cz locked where now is the blue/green box that I have manually drawn, and after the breakout occurred I refreshed the chart and now it shows that there isn't a breakout yet. I think it's because the indicator counts the bars from right to left rather than other way around which is the way they are drawn in live feed. Anyone found ways to limit this? Maybe bigger buffer zones and with min bar filter?
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  • #6,224
  • Mar 28, 2013 7:33am Mar 28, 2013 7:33am
Quoting profitpips
This morning I opened this chart and refreshed it and it had cz locked where now is the blue/green box that I have manually drawn, and after the breakout occurred I refreshed the chart and now it shows that there isn't a breakout yet. I think it's because the indicator counts the bars from right to left rather than other way around which is the way they are drawn in live feed. Anyone found ways to limit this? Maybe bigger buffer zones and with min bar filter?Attachment
Did you put AutoReduce to false?
  • #6,225
  • Mar 28, 2013 7:34am Mar 28, 2013 7:34am
Quoting Jayf19
Did you put AutoReduce to false?
Yes I have autoreduce set to false in all my pairs.
  • #6,226
  • Mar 28, 2013 7:40am Mar 28, 2013 7:40am
Quoting profitpips
Yes I have autoreduce set to false in all my pairs.
I suspect that would be your problem, since the new bar added was still within the 75 pips of your settings, the indicator might have moved the CZ accordingly.
  • #6,227
  • Mar 28, 2013 7:49am Mar 28, 2013 7:49am
Quoting Jayf19
I suspect that would be your problem, since the new bar added was still within the 75 pips of your settings, the indicator might have moved the CZ accordingly.
Ok, thanks! When I was finding setting to trade I couldn't find anything I liked with autoreduce on so I don't have much knowledge how it behaves, I'm gonna have a another look...
  • #6,228
  • Mar 28, 2013 7:54am Mar 28, 2013 7:54am
Im struggling with my Tp, so many today came close then knocked me out. My problem is with keeping a proper R:R. any advice? I know we can get a quick 20 pips on a breakout, but if the SL is 30 pips the R:R is mixed up.


Thanks,



Ben
  • #6,229
  • Mar 28, 2013 8:03am Mar 28, 2013 8:03am
Quoting oztrader79
Im struggling with my Tp, so many today came close then knocked me out. My problem is with keeping a proper R:R. any advice? I know we can get a quick 20 pips on a breakout, but if the SL is 30 pips the R:R is mixed up.


Thanks,



Ben
Wow this covers so many variables. - lets start with a chart so we can see your settings and go from there.
I make money anywhere in the world by taking orders
  • #6,230
  • Mar 28, 2013 8:08am Mar 28, 2013 8:08am
Quoting oztrader79
Im struggling with my Tp, so many today came close then knocked me out. My problem is with keeping a proper R:R. any advice? I know we can get a quick 20 pips on a breakout, but if the SL is 30 pips the R:R is mixed up.


Thanks,



Ben
Same thing happened to me this week, I believe it's merely a bad week and nothing more.
  • #6,231
  • Mar 28, 2013 8:09am Mar 28, 2013 8:09am
Quoting SedonaPipper
Wow this covers so many variables. - lets start with a chart so we can see your settings and go from there.

Sure, but are people generally going for a 2:1 or 1.5:1 ratio with this system? (although I know the answer already, depends what your settings are!)

Maybe Im being just a bit negative this week, but all the ones I set for a 20 pip TP continue to race on for 50+ so when I set 50 TP they get half and seem to turn around.

Im confised whether I should have a trailing stop and/or various TP targets at different %. Its like I have a lot of small wins but just one big loss wipes them out.
  • #6,232
  • Mar 28, 2013 8:10am Mar 28, 2013 8:10am
Quoting Jayf19
I suspect that would be your problem, since the new bar added was still within the 75 pips of your settings, the indicator might have moved the CZ accordingly.
On a couple of my pairs (EURGBP & GBPUSD). I have it set to false also, this is a scenario which hadn't crossed my mind until I saw this. I need to try and get my head round what the implications are.


By the way, if you look at the GBPUSD chart i posted last night, the one where i missed the trrade you will notice I placed a manually drawn box within the CZ hoping it would get to 30 bars, at which point I would have used the lower edge of it as my SL if price broke upwards. As it happens it did but i missed it, damn shame too because i would have had an increased lot size. I also intended to place an order if it had broken the bottom of the manual box, with SL at the other edge and TP at the bottom edge of the indi drawn CZ, in effect this would have been a range trade but using the tighter manual CZ as the signal. I've wondered about this kind of trade before when I've seen a CZ within a CZ and I think it was EURAUD where it looked quite promising.

However, I will leave it there for now as I get a sense I'll get a wrist slapping for going off topic.
  • #6,233
  • Mar 28, 2013 8:11am Mar 28, 2013 8:11am
Quoting profitpips
Ok, thanks! When I was finding setting to trade I couldn't find anything I liked with autoreduce on so I don't have much knowledge how it behaves, I'm gonna have a another look...
This subject has been covered - it has more to do with the data feed than the indicator. when you refreshed your charts the data that was used to populate the indicator was different. I suggest turning on the charts on sunday and don;t turn them off until you are done for the week. if that is impossible, then turn on the charts, and do a refresh before trading. I know its so tempting to trade that signal that comes up when you turn on the charts - take the time to refresh if the cz signal it is still there then plan your trade. Or trust your experience naked trading and forget about the indicator.
I make money anywhere in the world by taking orders
  • #6,234
  • Mar 28, 2013 8:17am Mar 28, 2013 8:17am
Quoting oztrader79
Sure, but are people generally going for a 2:1 or 1.5:1 ratio with this system? (although I know the answer already, depends what your settings are!)

Maybe Im being just a bit negative this week, but all the ones I set for a 20 pip TP continue to race on for 50+ so when I set 50 TP they get half and seem to turn around.

Im confised whether I should have a trailing stop and/or various TP targets at different %. Its like I have a lot of small wins but just one big loss wipes them out.
Are you using the breakouts average long and short information when you set yur tp's?
I make money anywhere in the world by taking orders
  • #6,235
  • Mar 28, 2013 8:27am Mar 28, 2013 8:27am
Quoting oztrader79
Sure, but are people generally going for a 2:1 or 1.5:1 ratio with this system? (although I know the answer already, depends what your settings are!)

Maybe Im being just a bit negative this week, but all the ones I set for a 20 pip TP continue to race on for 50+ so when I set 50 TP they get half and seem to turn around.

Im confised whether I should have a trailing stop and/or various TP targets at different %. Its like I have a lot of small wins but just one big loss wipes them out.
sounds like a basket trade could be an option but at the end of the day 20 pips in the bank is better than 0 pips in the bank. It all comes back to probabilities and the distribution curve in order to maximise those opportunities. I wish MT4 came with a statistical analysis tool, i'm convinced the banks have these programs with their huge resources to extract these probabilities (to answer such questions as 'if PA breaks out to 20 pips, how often does it then reach x pips, and x pips after that without reversing by more than Y pips or hitting the breakeven point, (i'm not far off being offered a position at a major bank so i'll let you know if I do find out)
  • #6,236
  • Mar 28, 2013 8:28am Mar 28, 2013 8:28am
Quoting SedonaPipper
This subject has been covered - it has more to do with the data feed than the indicator. when you refreshed your charts the data that was used to populate the indicator was different. I suggest turning on the charts on sunday and don;t turn them off until you are done for the week. if that is impossible, then turn on the charts, and do a refresh before trading. I know its so tempting to trade that signal that comes up when you turn on the charts - take the time to refresh if the cz signal it is still there then plan your trade. Or trust your...
I refreshed the chart before the signal came but yes it could be the datafeed.
Just wondered that once the cz is formed, I would draw manually two boxes, one as high as possible, one as low as possible, and only trade when it breaks out of one of these zones?
Wouldn't I then get the exact same trades as if I would refresh the indicator later and look back where the trades would have been opened?
  • #6,237
  • Mar 28, 2013 8:33am Mar 28, 2013 8:33am
Quoting profitpips
I refreshed the chart before the signal came but yes it could be the datafeed.
Just wondered that once the cz is formed, I would draw manually two boxes, one as high as possible, one as low as possible, and only trade when it breaks out of one of these zones?
Wouldn't I then get the exact same trades as if I would refresh the indicator later and look back where the trades would have been opened?
It seems to me that you are putting more faith in the indicator than what you see. You are in essence creating two different methodologies - one is the indicator and the other is what you see - which one are you going to trust?
I make money anywhere in the world by taking orders
  • #6,238
  • Mar 28, 2013 8:47am Mar 28, 2013 8:47am
Interesting behaviour. Please excuse the fact that I havent yet set up my EURAUD H1 settings on the new indicator. I noticed this a few weeks ago but just got reminded of it with Oz's post about missing TP's and missing out on bigger moves. I doubt I am the only one to observe this and It has been mentioned in thread a couple of times.

So the settings are for H1 but the screenshot is a zoomed out H4 chart and I've obviously added the green boxes (which are 40 pips tall like the CZ's). Predicting TP & SL levels on this pair should be relatively easy compared to some pairs. It does happen on other pairs but not with quite such accuracy.
Attached Image (click to enlarge)
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  • #6,239
  • Mar 28, 2013 8:49am Mar 28, 2013 8:49am
Quoting SedonaPipper
It seems to me that you are putting more faith in the indicator than what you see. You are in essence creating two different methodologies - one is the indicator and the other is what you see - which one are you going to trust?
So far trusting the indicator has been more profitable than trading naked with what I see, and trading the indicator allows me to have clearer plan to follow with my trading.
So I have to say I trust the indicator as long as I know what it's doing and what faults it might have
  • #6,240
  • Mar 28, 2013 8:53am Mar 28, 2013 8:53am
Haven't been in this thread for awhile. A year point 5 maybe? Anyway, i see that things have progressed and evolved lots since then. I have loaded up the new indie and changing settings and such for the last few days. Very impressive! Good work guys!! I am only running it on EU and UJ. UJ with SSBO i must say is my favorite. Nice CZ's nice percentages and such. Cheers and thanks for all the hard work on this. BTW, Hi FH and all

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Think Outside the Box.....
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