OTTF system for Newbies | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

4 hour trading system for newbies and experienced traders 4 replies

Simple Hedging system for newbies 27 replies

Which FX Trading Course/System is Good for newbies? 41 replies

Insight for newbies: Look Before Diving Into a System 4 replies

simple trading system for newbies 75 replies

Attachments: OTTF system for Newbies
Exit Attachments

OTTF system for Newbies

  • #21
  • Jul 10, 2014 1:35am Jul 10, 2014 1:35am
Quoting phangjk
Dear realclick, what is the channel indicator that you use?. is it an envelope?. could you please share that indicator?. thanks,
I posted every indicator already just look through the thread, I think the FastTMAline is similar to the bollinger band or envelope as price cannot stay outside for a long period of time without coming back inside, but the fastTMAline is own its own in terms of accuracy
10 pips a day keeps poverty away
  • #22
  • Jul 10, 2014 10:10am Jul 10, 2014 10:10am
Quoting realclick
{quote} I have never seen the golden finger indicator repaint once it plots
Nice. I'm trying to backtest for higher timeframes(Lower TFs too fast and noisy for my prefered style of trading). Also trying to use the GF with other indies. tnx.
  • #23
  • Jul 10, 2014 11:13am Jul 10, 2014 11:13am
Quoting LITEchild
{quote} Nice. I'm trying to backtest for higher time-frames(Lower TFs too fast and noisy for my preferred style of trading). Also trying to use the GF with other indies. tnx.
Thanks for trying to back-test the system on higher time-frame, would love to see the results though wont change my preference for 15 TF, if you wait for all factors to line up including the zigzag channel you will filter out all the noise and take only the best trades on the 15 TF , this system is good for newbies who tend to prefer the shorter time-frames and if you can stick to the rules will save yourself from blowing your account.

Example today no trade has manifested in the pairs I monitor (about 8) simply because the Zigzag Channel did not connect the 3 dot circles, most of all other conditions where met
10 pips a day keeps poverty away
  • #24
  • Jul 10, 2014 3:39pm Jul 10, 2014 3:39pm
Quoting realclick
{quote} Thanks for trying to back-test the system on higher time-frame, would love to see the results though wont change my preference for 15 TF, if you wait for all factors to line up including the zigzag channel you will filter out all the noise and take only the best trades on the 15 TF , this system is good for newbies who tend to prefer the shorter time-frames and if you can stick to the rules will save yourself from blowing your account. Example today no trade has manifested in the pairs I monitor (about 8) simply because the Zigzag Channel...
hi, do you usually moniter the charts during London and NY open or throughout the day?

thanks.
  • #25
  • Jul 10, 2014 3:57pm Jul 10, 2014 3:57pm
Quoting saticdoor86
{quote} hi, do you usually moniter the charts during London and NY open or throughout the day? thanks.
I feel more comfortable monitoring only London and NY open because then I feel confident there are enough players in the market to push price quickly as I like to be in out of the trade before the close of London trading
10 pips a day keeps poverty away
  • #26
  • Jul 10, 2014 4:26pm Jul 10, 2014 4:26pm
Quoting realclick
{quote} Thanks for trying to back-test the system on higher time-frame, would love to see the results though wont change my preference for 15 TF, if you wait for all factors to line up including the zigzag channel you will filter out all the noise and take only the best trades on the 15 TF , this system is good for newbies who tend to prefer the shorter time-frames and if you can stick to the rules will save yourself from blowing your account. Example today no trade has manifested in the pairs I monitor (about 8) simply because the Zigzag Channel...
  • #27
  • Jul 10, 2014 5:13pm Jul 10, 2014 5:13pm
Thanks realclick for a simple system. Just read thru the thread and Im excited. I will be trying this next week
  • #28
  • Jul 10, 2014 5:26pm Jul 10, 2014 5:26pm
Quoting realclick
{quote} I feel more comfortable monitoring only London and NY open because then I feel confident there are enough players in the market to push price quickly as I like to be in out of the trade before the close of London trading
okay thanks, i like how there are additional filters as the semaphors repaint. but the extra filters help to pick out a high probability trade.
awesome job!
  • #29
  • Jul 10, 2014 5:45pm Jul 10, 2014 5:45pm
Quoting saticdoor86
{quote} okay thanks, i like how there are additional filters as the semaphors repaint. but the extra filters help to pick out a high probability trade. awesome job!
Thanks, you got the key to success in forex, taking high probability trades, however if you also wanted to take more good trades everyday you could decide not to wait for the zigzag channel to connect the two 3 circles but manually draw a trendline joining to 3 dots with the trend-line sloping downward for a sell and upwards for a buy, this way today you would have taken some trades unlike me who wants to wait for the zigzag to do that on its own.

Example the GBPUSD chart attached below, I manually drew the blue trend-line, would have still been a successful trade.
Attached Image (click to enlarge)
Click to Enlarge Name: ottf2tday.JPG Size: 177 KB
10 pips a day keeps poverty away
  • #30
  • Last Post: Jul 13, 2014 9:33am Jul 13, 2014 9:33am
Hi All, this past week I had a lot on my plate and also studying for CFA institute exam coming up in August so missed lots of trading opportunities, please ignore the explorer attached not for this system but for EA i am testing on live account to see how possible for EA to trade low risk and profitable so even i I miss opportunities I can still rely on my EA, I think every trader should also have EA traded account too on VPS 24/7.

Coming new week I have to break one of my rules in the system, a good trader keeps to his rules but a great trader knows when to adjust them, so we will like to adjust the zizzag rule and now simply draw the trendline joining one 3 circle to another and if it points up we validate our buy signal vice versa.

We will still leave the zigzag indicator on our chart to help us in filtering out some trades too depending on its position on the chart.
With this single rule revision we can look forward to more trades and think of them to become profitable.

Also hope no one would ask me to share EA, because I cant afford too but we can discuss results because this is simply a test to actually experience how long a so called low risk profitable EA can last before blowing up the whole account, we hope to harvest enough profits before it really goes bust , who knows maybe never will go bust and we smile away to the banks.

Happy Weekend
10 pips a day keeps poverty away
0 traders viewing now