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Davit's BB Wave System

  • #721
  • Aug 23, 2014 7:21am Aug 23, 2014 7:21am
Going through majors weekly 4 August analyses

EU
Very bearish H1 H4 Daily RSI WR% pointing down angle sharp suggesting further decline.
At this point I am looking for correction and reluctant to short.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #722
  • Aug 23, 2014 7:28am Aug 23, 2014 7:28am
GU has been disappointing for lot of Bull traders expecting a correction and not having it.
I stopping trading this pair but looking to get in on Bull side if I see a sign of it.So far its total Bear.
If you look at the weekly chart you'll see that there is huge distance on Bear side so Staying on sidelines
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #723
  • Aug 23, 2014 7:32am Aug 23, 2014 7:32am
EJ
Most interested on this pair.It went into my BB zone.I shorted it but got out at 3759 because of Draghi speech but like to get on shorting this pair.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #724
  • Aug 23, 2014 7:36am Aug 23, 2014 7:36am
UC
Carrying healthy positive pips on this over 160pips TP is 886 (I may lower this TP)
May add more shorts.In next 5 months I anticipate with fall winter coming oil prices going up and CAd appreciating.My longer term outlook is stronger Cad despite what talking heads are saying.

AU
Showing resilience and like to get on on BUll side 9250 or lower
NU same 50 lower would be ideal 8350
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In trading, you have to be defensive and aggressive at the same time
  • #725
  • Aug 23, 2014 7:41am Aug 23, 2014 7:41am
Hello Davit and testers,

there is some progress with the EA (thanks PontusLSE) , the loop in entry opens and exits was caused through the close routine of the EA, so it didnīt happen in backtests,
only when there is a opposite entry to the same time:

Attached Image (click to enlarge)
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so iīm glad that i have fixed the startlot of the testversion to 0.01lot when looking how fast this bug could empty an 50K account.

hope nobody had the same problem life!! I wrote a PN to twee to clean up the post with the file...
Attached Image


when tested forward the new version for a few days it will be uploaded here again. Should be sometime in the beginning of september...

regards thodie
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just do it
  • #726
  • Aug 23, 2014 7:46am Aug 23, 2014 7:46am
Quoting thodie
Hello Davit and testers, there is some progress with the EA (thanks PontusLSE) , the loop in entry opens and exits was caused through the close routine of the EA, so it didnīt happen in backtests, only when there is a opposite entry to the same time: {image} so iīm glad that i have fixed the startlot of the testversion to 0.01lot when looking how fast this bug could empty an 50K account. hope nobody had the same problem life!! I wrote a PN to twee to clean up the post with the file... {image} when tested forward the new version for a few days it...
Thodie thanks for your efforts. Yes please don't trade this EA live yet until everything works properly and shows good results on demo.
I wished I could be helpful but I am not a coder
Thks bro
In trading, you have to be defensive and aggressive at the same time
  • #727
  • Aug 23, 2014 7:49am Aug 23, 2014 7:49am
U/CHF
Looking primed for shorting.Because of -99 correlation with Euro one to watch is Euro however Swissy got beat up less then Euro suggesting resiliency.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #728
  • Aug 23, 2014 7:55am Aug 23, 2014 7:55am
AUD/JPY
This has gone to Stratosphere A level trade potential over 100pips
Once again watch market behavior
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #729
  • Edited 8:26am Aug 23, 2014 8:03am | Edited 8:26am
CAD/CHF a pair I never traded before starting to look good to short

Some room up on RSI but H4 clearly got rejected once PA went into my BB zone
H4 showing sign of exhaustion
Note long tails sign of bull rejection
If you want more info Its a classic fractal H4
Attached Image(s) (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #730
  • Aug 23, 2014 8:06am Aug 23, 2014 8:06am
Quoting Davit
{quote} Thodie thanks for your efforts. Yes please don't trade this EA live yet until everything works properly and shows good results on demo. I wished I could be helpful but I am not a coder Thks bro
Hello Davit,

iīm also not a pro in coding, still learning and need partially the help of other coders i started without programming background in dec 13 / jan 14, glad there are some other coder in the other house.
You could help indeed to improve it a bit, not the initial position this logic is well done, more in adding and stacking up positions.

as you wrote you have many positions in U/J last week what is your entry criteria (what should the EA look for)
i guess you you switch to the lower TF after the initial order and add each time the Support or Resistance zone is met or
the RSI / WP hook in the prefered direction?

regards thodie
just do it
  • #731
  • Aug 23, 2014 8:14am Aug 23, 2014 8:14am
Quoting thodie
{quote} Hello Davit, iīm also not a pro in coding, still learning and need partially the help of other coders i started without programming background in dec 13 / jan 14, glad there are some other coder in the other house. You could help indeed to improve it a bit, not the initial position this logic is well done, more in adding and stacking up positions. as you wrote you have many positions in U/J last week what is your entry criteria (what should the EA look for) i guess you you switch to the lower TF after the initial order and add each time...
THodie
I trade based on budget on each pair
Lets say example I wanted to short UJ at 103 and set aside $400
I divide 400 in 2 equaling 1/2 lot each pip thus allowing me 800pips distance
Now as long as I think trade is valid I will add to trade even if previous trades are red.This is because my SL is $400 or 800pips
This way it allows multiple orders and trade without Hard Stop
I don't know how this can be coded but that's what I do.This is not martingale since I do have SL but this method allows freedom to stack on opertunity for max gain like I have done on UC 4 orders but could increase it to 8. I usually hold back my orders until trades show promise then hammer it even harder.
In trading, you have to be defensive and aggressive at the same time
  • #732
  • Aug 23, 2014 9:01am Aug 23, 2014 9:01am
Quoting Davit
{quote} THodie I trade based on budget on each pair Lets say example I wanted to short UJ at 103 and set aside $400 I divide 400 in 2 equaling 1/2 lot each pip thus allowing me 800pips distance Now as long as I think trade is valid I will add to trade even if previous trades are red.This is because my SL is $400 or 800pips This way it allows multiple orders and trade without Hard Stop I don't know how this can be coded but that's what I do.This is not martingale since I do have SL but this method allows freedom to stack on opertunity for max gain...
Davit: Do you start small and place larger entries when the market goes against you with pre-determined plans or keep all entries the same lot size? (Pyramiding I guess is what this is referred to as?)
"Holy Grail" exists - accepting where is the first step.
  • #733
  • Edited 9:25am Aug 23, 2014 9:14am | Edited 9:25am
Quoting VaBikePacker
{quote} Davit: Do you start small and place larger entries when the market goes against you with pre-determined plans or keep all entries the same lot size? (Pyramiding I guess is what this is referred to as?)
I keep lots same but when I see obvious exhaustion I will add more at that level.This concept took me a while to refine.
Idea is simple.Your system says all criteria met and you should go long or short.
Fine I get in and market decides to go against me another 30pips and still all criteria the same.I will add another short
Once market goes my way I will add more shorts down as well and move SL to BE or protect profits thus further orders are free from burden of over trading.
Its also important that you have the freedom to exit the trade entirely if behavior of the market does not look good anymore thus saving your substantial loss.

Please read "Bird Watching in Lion Country" many ideas were taken from this book.Google there is free PDF

Have you noticed that usually once you exit your losing trade then trade goes your way without you?This phenomena has lot to do with key level getting busted by purpose and mass exodus takes place and once that happens usually big boys unload their trades.
This is why I don't exit trades at Round numbers or 20-30's because of lot of false moves
Example look at UJ price broke 104 spiked 20pips killed lot of shorts mass exodus then abruptly declined.Notice my short lower still there unfazed.
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In trading, you have to be defensive and aggressive at the same time
  • #734
  • Aug 23, 2014 9:40am Aug 23, 2014 9:40am
Quoting Davit
{quote} I keep lots same but when I see obvious exhaustion I will add more at that level.This concept took me a while to refine. Idea is simple.Your system says all criteria met and you should go long or short. Fine I get in and market decides to go against me another 30pips and still all criteria the same.I will add another short Once market goes my way I will add more shorts down as well and move SL to BE or protect profits thus further orders are free from burden of over trading. Its also important that you have the freedom to exit the trade...
totally agree - and my mention of that wasn't shouldn't be construed as contesting what you're talking about at all - I employ similar strategy along with intensive price action analysis. Because of how deep the analysis goes I don't trade many pairs, but, in turn, I am able to take advantage of a lot of opportunity on the few pairs I do trade.

My setup revolves around reversal targets and the calculation of them and it is not uncommon at all for price to get close to a reversal target, back up, then finally hit it. Happens VERY often.

The reason I mention that strategy is to lower your average entry on your trades bringing your break even point closer to your lowest or highest entry as applicable to the direction you're trading.

I use a similar "budget principle" as you in that I have a set maximum total lot size I will trade on my account based on my understanding of the range of the pairs I'm trading. I use max margin use % and also keep a keen eye on how many pips it is to a margin call. Because of my reversal target calcs, I have a clear picture of extreme highs and lows and consider those stop losses, but frankly, those levels are rarely reached, so, worrying with stop losses becomes a moot point.
"Holy Grail" exists - accepting where is the first step.
  • #735
  • Aug 23, 2014 9:47am Aug 23, 2014 9:47am
Quoting Davit
Going through majors weekly 4 August analyses EU Very bearish H1 H4 Daily RSI WR% pointing down angle sharp suggesting further decline. At this point I am looking for correction and reluctant to short. {image}
hi davit, first thank you for this thread, i trade mostly on H4, recently discovered your thread...i agree with you on a correction and for me its 1.34 area, please see chart (ignore entry and sl, its do to my own system)the question is, in case of pointing down again rsi and wpr from 50 level, what would you do, take profit or si at be and wait or what else, thaks....
Attached Image (click to enlarge)
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Money is made by sitting, not trading. Jesse L. Livermore
  • #736
  • Aug 23, 2014 1:00pm Aug 23, 2014 1:00pm
Quoting sam69
{quote} hi davit, first thank you for this thread, i trade mostly on H4, recently discovered your thread...i agree with you on a correction and for me its 1.34 area, please see chart (ignore entry and sl, its do to my own system)the question is, in case of pointing down again rsi and wpr from 50 level, what would you do, take profit or si at be and wait or what else, thaks.... {image}
Hi Sam
Welcome ! At 50 level you can either take TP or should price go your way then go all the way to other side of BB RSI WR% zone.
My personal opinion is fundamentally Euro zone is in shambles therefore sellers will pound Euro on rallies hence very likely scenario is sharp decline from 34 although I am doubtful it will even go that high.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #737
  • Aug 23, 2014 5:03pm Aug 23, 2014 5:03pm
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I have been waiting for this one to fall for about a week, and its kept going up for 100+ pips unbelievable
YOUR MOTHERS ASS
  • #738
  • Edited 12:23am Aug 24, 2014 12:01am | Edited 12:23am
Quoting santos23
{image} I have been waiting for this one to fall for about a week, and its kept going up for 100+ pips unbelievable
Hi Santos.Yes Yen got killed all week.That was the case with UJ and EJ as well.
Based on my system it would of not been correct to short 100pips below current price.Price should be in BB zone RSi 70 WR%20
It is very ripe to fall now
See my post 728
In trading, you have to be defensive and aggressive at the same time
  • #739
  • Aug 24, 2014 12:44am Aug 24, 2014 12:44am
Quoting Davit
GU has been disappointing for lot of Bull traders expecting a correction and not having it. I stopping trading this pair but looking to get in on Bull side if I see a sign of it.So far its total Bear. If you look at the weekly chart you'll see that there is huge distance on Bear side so Staying on sidelines {image}
Hello David,

first, thanks for sharing your system.

GU has been down for the past 6 weeks at a row. do you see big chance to retrace for this week?

Thanks n regards
While knowledge speak up, the wisdom listen down
  • #740
  • Aug 24, 2014 4:06am Aug 24, 2014 4:06am
Hi Davit
Thank you for sharing this strategy and knowlege especially your punctuality was remarkable
My question is related to missing part of the indicators on chart
specifically, I hv used the tree templates provided in this thread and none of them could display the correct candle shape
------------------
Kindly let me know what should i do in order to get similar charts to yours
Or to grant us the proper template that covered all necessary items on charts

NB= Is there an EA for this strategy, if yes where to find it --
----------------------
Thanks
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