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  • #6,281
  • Mar 30, 2013 6:04am Mar 30, 2013 6:04am
Quoting fexitrade
oztrader - really lıked some of the hand drawn cz you put up thıs week

much love - fexıtrade

Cheers mate, appreciate any feedback when I put them up and likewise ill do the same - traders helping traders.
  • #6,282
  • Mar 30, 2013 6:59am Mar 30, 2013 6:59am
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...

Oztrader
i I too it is the same

must have confidence in the indicator settings

I do a historical study as complete as possible to understand the behavior

I have learned to place orders and:

1. stop being in front of the computer
2. other activities that occupy my mind on other tasks
3. be attentive to only display notifications on my phone
4 and expect the best results trust and trust

I applied psychology is simple .... on the screen of my computer in a paper I wrote the word trust and the same on my phone in a slip escrubi the word TRUST

this reminds me continually discipline
is so simple that laugh jejejejeje

ciao
  • #6,283
  • Mar 30, 2013 8:19am Mar 30, 2013 8:19am
A question for the seasoned SSBO traders . . . . .

The indicator pre-supposes that you take trades as and when the opportunity arises and all the results are based on that with *all* the pre-requisite recovery trades taken and so on. How does this equate to trading in real life where it is probably not possible to babysit your computer 24 hours a day (because of sleeping, a day-job or other responsibilities) and therefore you are quite likely to miss taking recovery trades?

Obviously I understand that it is quite easy to set-up pending trades for the initial breakout in advance (because there is some semblance of warning as the CZ is forming) and exiting the breakout and recovery trades is straightforward with pre-set SLs and TPs etc. but I just wondered how you deal with making sure that you can enter the recovery trades and not miss one thereby throwing off the results?
  • #6,284
  • Mar 30, 2013 10:42am Mar 30, 2013 10:42am
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.

Look at my pics...it depends on the cz. I trust the stats. I can manually draw cz's and trade them. I have used the indi to fine tune and better my odds which gives us the edge to win over time. Very easily i must say. Once the setting are where i like I dont change them. I do skip certain times of the day. But other than that, im in when the criteria are met. If it causes you anxiety when you have a loss or 2 losses in a row, your over levereged, back off on that..... I trust the stats. It has been said by many successful traders, You must almost become emotional less when trading, otherwise it can kill your success.
  • #6,285
  • Mar 30, 2013 11:32am Mar 30, 2013 11:32am
first back to back losses on this pair in about 3 months. oo well it happens just need to stick to the plan. I only have the losses on my graph as this and the zone are all i really need to find entry and new TP levels. I find the other stats distract me too much and cause me to be more emotional, so i keep them off my graph but i still use them to determine TP levels. Keep it simple.
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  • #6,286
  • Mar 30, 2013 11:37am Mar 30, 2013 11:37am
3/4 on GU5 = 210 pips this week on this pair alone
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  • #6,287
  • Mar 30, 2013 2:19pm Mar 30, 2013 2:19pm
Quoting charbar
A question for the seasoned SSBO traders . . . . .

The indicator pre-supposes that you take trades as and when the opportunity arises and all the results are based on that with *all* the pre-requisite recovery trades taken and so on. How does this equate to trading in real life where it is probably not possible to babysit your computer 24 hours a day (because of sleeping, a day-job or other responsibilities) and therefore you are quite likely to miss taking recovery trades?

Obviously I understand that it is quite easy to set-up pending trades...
Guys shall we let FXH answer this one?
  • #6,288
  • Mar 30, 2013 5:25pm Mar 30, 2013 5:25pm
i decided to jump on the weekend analysis band wagon - makes sense its the end of the month

i did a rigorous eyeballing of my plays the entry how long they run fails and box size

- i average 3 boxes a week - interesting as i did not attempt to control the amount of boxes i made

- when theres a breakout its best to immediate take the trade and put a stop loss at 20pips - good implications for a more set and

forget method

- so rr 3:2

- when to scale out.... not sure yet 30 seems ok but theres definately room for improvement as many run as im sure you all noticed
  • #6,289
  • Mar 30, 2013 5:54pm Mar 30, 2013 5:54pm
Quoting charbar
A question for the seasoned SSBO traders . . . . . The indicator pre-supposes that you take trades as and when the opportunity arises and all the results are based on that with *all* the pre-requisite recovery trades taken and so on. How does this equate to trading in real life where it is probably not possible to babysit your computer 24 hours a day (because of sleeping, a day-job or other responsibilities) and therefore you are quite likely to miss taking recovery trades? Obviously I understand that it is quite easy to set-up pending trades for...
If you cant be a trader dont trade. The world needs dreamers anyhow.
  • #6,290
  • Mar 30, 2013 5:55pm Mar 30, 2013 5:55pm
Quoting charbar
A question for the seasoned SSBO traders . . . . . The indicator pre-supposes that you take trades as and when the opportunity arises and all the results are based on that with *all* the pre-requisite recovery trades taken and so on. How does this equate to trading in real life where it is probably not possible to babysit your computer 24 hours a day (because of sleeping, a day-job or other responsibilities) and therefore you are quite likely to miss taking recovery trades? Obviously I understand that it is quite easy to set-up pending trades for...
Not an issue for me so far, especially if you limit the the no of pairs traded, why don't you demo and see for yourself?
  • #6,291
  • Edited 6:18pm Mar 30, 2013 6:07pm | Edited 6:18pm
Quoting fexitrade
i decided to jump on the weekend analysis band wagon - makes sense its the end of the month i did a rigorous eyeballing of my plays the entry how long they run fails and box size - i average 3 boxes a week - interesting as i did not attempt to control the amount of boxes i made - when theres a breakout its best to immediate take the trade and put a stop loss at 20pips - good implications for a more set and forget method - so rr 3:2 - when to scale out.... not sure yet 30 seems ok but theres definately room for improvement as many run as im sure...
Yes everyone's settings will be different, but I like to go for settings of 0 bars closed outside. While it means I might get hit by a spike, it also means that when a CZ forms I can just place pending orders and forget about it. I use a trademanager program called MYFX which you can customise trade settings. I have it move my positions to breakeven after 30 pips plus take a % off, then move the stop loss at another point and take more off, then continue with a trailing stop. You can alsao have multiple trade templates for different pairs if you like.

The more I can remove myself from the trade once its in place the better.
  • #6,292
  • Mar 30, 2013 6:10pm Mar 30, 2013 6:10pm
Quoting nickp89
3/4 on GU5 = 210 pips this week on this pair alone
Nice results Nic, but you're lucky the gap worked in your favour!


Ben
  • #6,293
  • Mar 30, 2013 7:08pm Mar 30, 2013 7:08pm
Quoting oztrader79
Nice results Nic, but you're lucky the gap worked in your favour! Ben

Thanks Ben. The gap occurred on a Thursday and it was a problem with my broker not your typical Sunday gap. I'm a little weary about taking trades over the weekend for that exact fact. There really is no luck involved if I had been stopped out then I would be looking for another entry not much to it but that - just take the loss and move on every trade doesn't need to be a winner
  • #6,294
  • Mar 30, 2013 8:12pm Mar 30, 2013 8:12pm
Quoting fexitrade
. not sure yet 30 seems ok but there's definitely room for improvement as many run as im sure you all noticed
Fexitrade, to do a better job of taking profits, look at the average breakout pips and find a way to incorporate them into your thinking process. I am not sure how to talk about this process, but this piece of the indicator seems to get lost in the qp goal. Understanding it may help you do a better job of improving your tp's.
I make money anywhere in the world by taking orders
  • #6,295
  • Mar 31, 2013 12:43am Mar 31, 2013 12:43am
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.

Look at my pics...it depends on the cz. I trust the stats. I can manually draw cz's and trade them. I have used the indi to fine tune and better my odds which gives us the edge to win over time. Very easily i must say. Once the setting are where i like I dont change them. I do skip certain times of the day. But other than that, im in when the criteria are met. If it causes you anxiety when you have a loss or 2 losses in a row, your over levereged, back off on that..... I trust the stats. It has been said by many successful traders, You must almost become emotional less when trading, otherwise it can kill your success.

Thanks Dojirock

Good to have your thoughts on this. I am going to take a step back and re-access what I am doing. Appreciate the advice.
  • #6,296
  • Mar 31, 2013 12:59am Mar 31, 2013 12:59am
Last week was great on most jpy pairs.
  • #6,297
  • Mar 31, 2013 7:52am Mar 31, 2013 7:52am
I'm trying to handle the CZ manual as a method to anticipate the indicator cz

this makes me closer to possible time for the indicator of a notice me

using the blue as an approach to gauge cz
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  • #6,298
  • Mar 31, 2013 7:58am Mar 31, 2013 7:58am
for this Sunday is pending cz

depends on the gap behaves as

in the historical study I found that the gap is very carefully several times and other unforeseen causes t stop just out of control ...

I think it's best not to let the weekend orders
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  • #6,299
  • Mar 31, 2013 1:28pm Mar 31, 2013 1:28pm
A couple of weeks ago I asked for the thread to help me with my trading journal. though I didn't get as many people participating as I expected, I was happy with the feed back I did receive. What I got was keep it simple so I created a spread sheet that I use to monitor a trade. Information includes
Currency, Day, Market, Stage, lots, stop loss, take profit, R-multiple, Set Result, R-multiple for set, swap, results of each stage, Notes and possible pips.

Now I am wanting to have another discussion about a few of the lines in the indicator and how people are using them. The line I am most interested in at the moment is the breakout pips average line. First are you using this information in your take profit analysis, and if so how does it help you with your trade management. My hope is to find out the mistakes I am making with my understanding of this line in the indicator and how to better manage my trades.

My understanding is that when price breaks out of a cz it reaches this pip level on average. Now does that include times price breaks out and reverses before reaching its quick profit, if so then the importance of this line increases. Also does using the breakout average for the reversal make sense. Ie - I have a long and a short average, if prices breaks long and then reverses and goes short does the short average pips then become a viable target?

I know this has been touched on and I am not satisfied with with what I think I know. It's what I don't know that I think I know that concerns me. Of course if it has already been fully discussed, I will have to go back and reread the thread.
I make money anywhere in the world by taking orders
  • #6,300
  • Mar 31, 2013 1:46pm Mar 31, 2013 1:46pm
...I am not satisfied with with what I think I know. It's what I don't know that I think I know that concerns me.

Like a dog with a bone. Brilliant.

You're doing it, SP. Stir it up and don't stop until you draft in some like-minded members here and you all get the answers you deserve!
To improve is to change. To perfect, is to change often.
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