Extracted Thread (per thread starter's request) | Page 314 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

1 trade per pair per year 6 replies

multiple systems per pair/multiple pairs per system? 3 replies

Extracted Post (per poster's request) 0 replies

Trading 24 hours per day, 5 days per week 14 replies

Attachments: Extracted Thread (per thread starter's request)
Exit Attachments

Extracted Thread (per thread starter's request)

  • #6,261
  • Mar 29, 2013 7:35am Mar 29, 2013 7:35am
Quoting fexitrade
*yawn* i was hoping the nyk open would kick the markets into gear but no it shaping up to be a bit of a quiet one....
Good Friday - even though USA remains open, a lot of countries' banks are closed.
  • #6,262
  • Mar 29, 2013 10:05am Mar 29, 2013 10:05am
Quoting Jayf19
Those are your forward tested results?
yes

i run it on my live account

alpary uk
  • #6,263
  • Mar 29, 2013 10:35am Mar 29, 2013 10:35am
Quoting Jayf19
Good Friday - even though USA remains open, a lot of countries' banks are closed.
shit didnt even notice....

im in on usd cad though its slowly ticking
  • #6,264
  • Mar 29, 2013 12:47pm Mar 29, 2013 12:47pm
Guys, I love this strategy. In the same idea as the CZ method I'm hoping some of you dedicated CZ traders and programmers can help me out with my idea. Check out this thread. http://www.forexfactory.com/showthread.php?t=418153

If I'm breaking any rules of this thread I apologize. Not trying to overstep my limit just trying to expand upon what is already proven to be a great method.

Thank
  • #6,265
  • Mar 29, 2013 12:56pm Mar 29, 2013 12:56pm
Quoting tmoney5474
Guys, I love this strategy. In the same idea as the CZ method I'm hoping some of you dedicated CZ traders and programmers can help me out with my idea. Check out this thread. http://www.forexfactory.com/showthread.php?t=418153

If I'm breaking any rules of this thread I apologize. Not trying to overstep my limit just trying to expand upon what is already proven to be a great method.

Thank
Why not add to this thread instead of starting another SSBO system thread? This subject of trading around big round numbers has been dealt with on this thread. In fact quite often, maybe most often, a CZ forms around a big round number so the indicator to identify them is already in place. It seems to me you are reinventing the wheel and putting a few more rules to say its different. And yes I read your thread.
I make money anywhere in the world by taking orders
  • #6,266
  • Mar 29, 2013 1:02pm Mar 29, 2013 1:02pm
Perfect! I'm not really trying to create something "different", I just like the idea of focusing on the round numbers. If this SSBO indicator has been created and has a round number ONLY filter then AWESOME! Can you point me in the direction. Again, its about expanding on this great strategy. NOT trying to take glory for something or do anything different. With that said, if you guys dont think its different and wont divert attention away from the core of the SSBO system then I move the conversation to this thread. But I dont want to divert any attention away from SSBO and start adding something that forexhand and other may not appreciate. Let me know you thoughts.
  • #6,267
  • Mar 29, 2013 1:11pm Mar 29, 2013 1:11pm
Quoting tmoney5474
Perfect! I'm not really trying to create something "different", I just like the idea of focusing on the round numbers. If this SSBO indicator has been created and has a round number ONLY filter then AWESOME! Can you point me in the direction. Again, its about expanding on this great strategy. NOT trying to take glory for something or do anything different. With that said, if you guys dont think its different and wont divert attention away from the core of the SSBO system then I move the conversation to this thread. But I dont want to divert...
What is your proof that a round number only filter would be an enhancement to the SSBO system? As stated in this thread on numerous occasions, if you have a refinement that you can show with actual market conditions makes a difference, then it can be incorporated into the indicator. The ema filter is just such an enhancement, it was proven to make a positive difference to the system and so it is now a part of the indicator that be turned off or on based on the traders choice.

Of course I am talking out of turn. My bad.
I make money anywhere in the world by taking orders
  • #6,268
  • Mar 29, 2013 1:47pm Mar 29, 2013 1:47pm
I have no proof... But can we agree it at least an idea worth exploring?

Round numbers are infact physiological levels where many traders place stops, targets, average in etc. So, knowing this should be enough to at least play with this idea.
  • #6,269
  • Mar 29, 2013 2:01pm Mar 29, 2013 2:01pm
Quoting tmoney5474
I have no proof... But can we agree it at least an idea worth exploring?

Round numbers are infact physiological levels where many traders place stops, targets, average in etc. So, knowing this should be enough to at least play with this idea.
I agree with the round number phenom. I look to see where the cz has formed and plan my trade with them in mind - did price break towards the round number or away etc.... I have also noticed that quite often cz's form around a RN. I am not clear how waiting for a cz to form around a big number increases the probabilities in my favor. How many do I miss before one forms around a round number. If I miss three profitable trades before the market forms a cz around a round number, I have missed three opportunities because my criteria is to narrowly defined. So is it worth it to only trade round numbers - need the proof. Also since the indicator already identifies cz's and I can see if it's at a round number, what would the value of creating an indicator that only took trades at round numbers be?
I make money anywhere in the world by taking orders
  • #6,270
  • Mar 29, 2013 3:32pm Mar 29, 2013 3:32pm
Tmoney, To explore any RN benefit to SSBO, simply add one of the common RN indis to an SSBO chart and study it for the next 100 days and take extensive notes. And then come back and share your findings with the rest of us, just like we have about our pet ideas. Until that time there's no proven rationale for asking Xux to make mods to our custom indi. And no reason for starting a mirror SSBO thread, either.

Proving (or not) a theory of this type is incredibly easy. One person can do it all by themselves, providing they have the patience to go for 100 days as mentioned above. It doesn't require hoards of co-experimenters. When I started this thread, in July 2011, I presented a fully tested concept with proven results. It was no fishing expedition, and I didn't ask for any help in testing an unknown. Just the opposite: I presented a verified known. All I'm suggesting with this here message is that you do the same.
To improve is to change. To perfect, is to change often.
  • #6,271
  • Mar 29, 2013 10:48pm Mar 29, 2013 10:48pm
I love the weekends, time for review while the markets are closed - I can get centred and think clearly.

I went over past trades etc and what is totally clearly is once you have your settings in place, leave them and trade the system as is. Even though these 5 days were profitable according to the attached table, I didn't get the same results. Why? I either moved my SL too soon or exited trades too early, rather than just letting them run either way.


Of course everyone's settings will vary, but thought it might be good to share. To me it just re-emphasised the need to trust the system (as shown by past results) and when signals come, trade them and leave them. Trade like a robot, strictly according to my set parameters and with no emotion.

Ben

(edit: the win lose column is for this week only)
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-03-30 at 2.42.18 PM.png Size: 30 KB
  • #6,272
  • Mar 29, 2013 11:25pm Mar 29, 2013 11:25pm
" To me it just re-emphasised the need to trust the system (as shown by past results) and when signals come, trade them and leave them. Trade like a robot, strictly according to my set parameters and with no emotion."

Emotions are why most traders fail. Try using the alerts. I enter with a alert and i dont exit until the next alert. The I look for the win or loss. It keeps all emotion out. The system is easy, the stats are proven! & great. Why is it so hard for traders to believe. Even when I teach price action trading, its a horizontal line and entry, yet so many make it more than that and make it hard, thus fail. SSBO has the stats to back up what it claims.

Ben, I am not taking a dig on your post. I'm agreeing with your findings below and trying to get traders to look at your post exactly! AND TRUST! I don't understand why so many are trading 8 pairs? You only need one, or ok maybe two. Its not about the amount of pips you make. Let the leverage do the work. I have said it before and I will say it again, 20 pips a day is all it takes to be financially free within 3 years max. MAKE SOME MONEY GUYS! I do look forward to the day its automated but with very little work we become the robot.






Quoting oztrader79
I love the weekends, time for review while the markets are closed - I can get centred and think clearly.

I went over past trades etc and what is totally clearly is once you have your settings in place, leave them and trade the system as is. Even though these 5 days were profitable according to the attached table, I didn't get the same results. Why? I either moved my SL too soon or exited trades too early, rather than just letting them run either way.


Of course everyone's settings will vary, but thought it might be good to share. To me it...
  • #6,273
  • Mar 29, 2013 11:27pm Mar 29, 2013 11:27pm
Done for the weekend!

Happy Easter

doji
  • #6,274
  • Mar 30, 2013 2:19am Mar 30, 2013 2:19am
Quoting dojirock

Emotions are why most traders fail. Try using the alerts. I enter with a alert and i dont exit until the next alert. The I look for the win or loss. It keeps all emotion out......
+1 thanks doji, great post.
  • #6,275
  • Mar 30, 2013 2:46am Mar 30, 2013 2:46am
Posted by dojirock (http://www.forexfactory.com/showthread.php?p=6559439#post6559439)


Emotions are why most traders fail. Try using the alerts. I enter with a alert and i dont exit until the next alert. The I look for the win or loss. It keeps all emotion out......

Great results oztrader79, well done.

I hope that one day I can be as successful using this system. At the moment I locate a trade by the alert I follow the system of waiting for the second candle to close but most of the time it reverses and I get stopped out at the oposite side of the box. The occasional win does not make up for the losses. Perhaps I need to be more selective on the choice of trades.
I will continue to watch how others trade and try to adjust my trading to be more profitable. I am following about 8 to 10 pair so perhaps as suggested I should try to stick to just a couple.
My thoughts (possibly wrong) are that by trading more pairs I will get better at making the correct choice of when to enter the trade.

Dojirock, ....can I ask, you say you enter with an alert, is that on a 2nd candle close, as my alerts appear to be when the 1st candle breaks the buffer zone.
  • #6,276
  • Mar 30, 2013 2:50am Mar 30, 2013 2:50am
Quoting Kaylan
Posted by dojirock (http://www.forexfactory.com/showthread.php?p=6559439#post6559439)



Great results, well done.

I hope that one day I can be as successful using this system. At the moment I locate a trade by the alert I follow the system of waiting for the second cadle to close but most of the time it reverses and I get stopped out at the oposite side of the box. The occasional win does not make up for the losses. Perhaps I need to be more selective on the choice of trades.
I will continue...

OK, if you are serious then do this: stop using the indicator and do the hand drawn excercise as recommended in the 1st post. If you don't do this you become reliant on the indicator without understanding the system. If you are genuine about being successful, this will help you unbelievably. Do it, then come back and ask for refinement questions.

See you soon!
  • #6,277
  • Mar 30, 2013 3:14am Mar 30, 2013 3:14am
OK, if you are serious then do this: stop using the indicator and do the hand drawn excercise as recommended in the 1st post. If you don't do this you become reliant on the indicator without understanding the system. If you are genuine about being successful, this will help you unbelievably. Do it, then come back and ask for refinement questions.

Thanks oztrader,

I am serious otherwise I would have given up years ago, after many failures.
Tried the hand drawn boxes for a short time, but perhaps not long enough to see the benefit.
I will take your advice and go back to square one and nake trade for a week again.

I will see you soon. Thanks
  • #6,278
  • Mar 30, 2013 3:22am Mar 30, 2013 3:22am
Quoting Kaylan
OK, if you are serious then do this: stop using the indicator and do the hand drawn excercise as recommended in the 1st post. If you don't do this you become reliant on the indicator without understanding the system. If you are genuine about being successful, this will help you unbelievably. Do it, then come back and ask for refinement questions.

Thanks oztrader,

I am serious otherwise I would have given up years ago, after many failures.
Tried the hand drawn boxes for a short time, but perhaps not long enough to see the benefit.
I...
Hey Kaylan,


I was not discouraging you! I really meant it, focus on the handrawn CZ's. When you're proficient in those, study them more and look at your potential TP levels and SL levels. That's the next step and then you can begin to refine it. When you get a grip on those, the indi works so much better for you.



Ben
  • #6,279
  • Mar 30, 2013 3:37am Mar 30, 2013 3:37am
Hi oztrader

No discouragement taken, I know by now that the way to succeed is to do what the sucessfull people do!
If I do not take advice when it is given then I will never benefit from following successfull people.

One week of back to basic training, after 5 years is nothing I am determined to make this work.
otherwise I wasted my time reading all this thread twice.

Alan
  • #6,280
  • Mar 30, 2013 5:01am Mar 30, 2013 5:01am
oztrader - really lıked some of the hand drawn cz you put up thıs week

much love - fexıtrade

0 traders viewing now