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Eitan's Project

  • #7,221
  • Sep 5, 2014 6:47am Sep 5, 2014 6:47am
Quoting cariddi74
{quote} My opinion: long candles are always more dangerous for a retracment, but not bad in itselves ,cause maybe it's really a breakout candle. Often when there is indecision for quite long time in pair, and in concomitance with red news (even if data nothing exceptional or far from forecasts) used by fat cats to drive the market, we see this long missiles jumping. Personally if conditions met and SL not too far i tend to take the trade anyway; of course you have to have savvy MM and coverage for the retracment with a decent SL (the 161.8 TRADE...
Agree Bro ..

But Im getting little confused here ... aren't we put stop loss on 61.8 for short when it breaks the 38.2 level with all conditions met and SL at 38.2 for long if it breaks the 61.8 last week fibbo ??? so what is the 161.8 ?!?!?!
  • #7,222
  • Sep 5, 2014 6:52am Sep 5, 2014 6:52am
Hello Proff Eitan,

True to your word I received the keys to the kingdom today.
Your efforts are truly appreciated.
You are truly a rare individual , one of a kind.
I remain eternally grateful.
  • #7,223
  • Sep 5, 2014 6:59am Sep 5, 2014 6:59am
Quoting eitan1010
{quote} well..according my bt it work on all pairs with above 90% WR but we will discus about it on the new thread..be patience.
Prof When you have time can you please give us a list of your recommended pairs ?? the more the better

Sorry for wasting your time.

Thanks
  • #7,224
  • Sep 5, 2014 7:09am Sep 5, 2014 7:09am
Quoting Rockerzeus
{quote} You can not, It is another one under construction, which I sent him to test
naaaa !!! Rockerzeus;

Do not worry, the important thing is the great development you've done with the indicator.

Thank you very much guy
  • #7,225
  • Sep 5, 2014 7:10am Sep 5, 2014 7:10am
Quoting networker911
{quote} Agree Bro .. But Im getting little confused here ... aren't we put stop loss on 61.8 for short when it breaks the 38.2 level with all conditions met and SL at 38.2 for long if it breaks the 61.8 last week fibbo ??? so what is the 161.8 ?!?!?!
I am talking about the 161.8 level of the TRADE fibo... the old way in the video that Eitan was putting the SL. You can calculate it in various ways, but....well
see the attached GBP/NZD 4H trade recently done. Usually if conditions met soon after the break of the line (green or purple), the stop loss results to be few pips above (or below if is BUY) the acqua line (pivot levels). But also in this case when not all condtions mets immediately, it can be put also to the 161.8 level of the fibo traced starting from the point you took the trade and matched to the 0 of past weekly fibo (or matched to the 100 if is a BUY).
Hope it helps.
Attached Image (click to enlarge)
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  • #7,226
  • Sep 5, 2014 7:20am Sep 5, 2014 7:20am
Quoting networker911
{quote} Prof When you have time can you please give us a list of your recommended pairs ?? the more the better Sorry for wasting your time. Thanks
Many here asking the same question and I want to share my humble opinion about this. On the chart below I just want to give you the idea of why some pairs work and some not. It really has nothing to do with the pair but more with its status.. its so called "SEASON"

On the image there you can see 4 different seasons of GJ. There are months where GJ doesn't move so much like A, C and D.. but in B you can see the strength.. the trend was so strong back then.. nowadays it is still good but if you check on any pair you can find yourself pairs that are trending nicely. I just stay away of pairs which have narrow trend.

So the answer for your questioın is not the pair.. always consider the pair with its season.. So here for GJ example, the results for Eitan's system would be different if backtested on season A, C or D compared to season B. I hope you get the idea.

I hope I could light a bulb in your head.

Happy Trades
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Focus only on what truly matters!
  • #7,227
  • Sep 5, 2014 7:25am Sep 5, 2014 7:25am
Quoting Ata-Turkoglu
{quote} Many here asking the same question and I want to share my humble opinion about this. On the chart below I just want to give you the idea of why some pairs work and some not. It really has nothing to do with the pair but more with its status.. its so called "SEASON" On the image there you can see 4 different seasons of GJ. There are months where GJ doesn't move so much like A, C and D.. but in B you can see the strength.. the trend was so strong back then.. nowadays it is still good but if you check on any pair you can find yourself pairs...
Agree. Also if i can also i would add.... the system is robust, very robust, so it work in every market condition (after all we can predict with difficult if a period will be trending or not..this is the problem)

...the more trending the better... well i should say..the more SWINGING with decent large swings, the better, cause this system really catches the breakouts of the swings.
  • #7,228
  • Sep 5, 2014 7:28am Sep 5, 2014 7:28am
Quoting cariddi74
{quote} Agree. Also if i can also i would add.... the system is robust, very robust, so it work in every market condition (after all we can predict with difficult if a period will be trending or not..this is the problem) ...the more trending the better... well i should say..the more SWINGING with decent large swings, the better, cause this system really catches the breakouts of the swings.
Yes.. exaclty.. the system is very robust.. and even as a DAX futures trader I can say it worked and still works for me very well..

Happy Trades
Focus only on what truly matters!
  • #7,229
  • Sep 5, 2014 7:29am Sep 5, 2014 7:29am
Quoting cariddi74
{quote} I am talking about the 161.8 level of the TRADE fibo... the old way in the video that Eitan was putting the SL. You can calculate it in various ways, but....well see the attached GBP/NZD 4H trade recently done. Usually if conditions met soon after the break of the line (green or purple), the stop loss results to be few pips above (or below if is BUY) the acqua line (pivot levels). But also in this case when not all condtions mets immediately, it can be put also to the 161.8 level of the fibo traced starting from the point you took the trade...
Thanks Bro Now I understood what you were talking about and allow me to put it in another way cause I wanna add some thing :

What you are saying when we are taking a short trade:
1- IF conditions all met just right after breaking the Purple line or the close of the candle is not far from the purple line our stop loss usually is just around the pivot
2- If conditions met long after breaking the purple line and if we still have room for the TP margin we still take the trade an place our Sl on the 1.68 level of the trade fibbo ? ( so you are pointing here if the trade retraces more than 68.1% it wont have enough momentum to draw back again or possible reversal

Now regarding condition nom 2 we are using the rules of fibbo retracements and extensions and as far as I know its very commonly used rules but what I know here is the trigger revel for reversal or break out is the 86 level not the 68.1 so what do you think if we put the SL at the 186 level ... Just an opinion
  • #7,230
  • Sep 5, 2014 7:32am Sep 5, 2014 7:32am
AC practically ready to jump boys
  • #7,231
  • Sep 5, 2014 7:33am Sep 5, 2014 7:33am
Ata-Turkoglu and Cariddi thanks for your great contributions we are all here to master mind and support each other of course under the umbrella of our PRof.
  • #7,232
  • Sep 5, 2014 7:36am Sep 5, 2014 7:36am
Quoting networker911
Ata-Turkoglu and Cariddi thanks for your great contributions we are all here to master mind and support each other of course under the umbrella of our PRof.
You're welcome.. consider me simply as a humble servant of Prof. Eitan.. and we all want to add value to his beautiful system as much as we can..

Happy Trades
Focus only on what truly matters!
  • #7,233
  • Sep 5, 2014 7:42am Sep 5, 2014 7:42am
Quoting eitan1010
GBPNZD nicely 80 pips..{image}
TP hit+ 95 pips..
when GOD brings you a challenge he also gives you the power to deal with it
  • #7,234
  • Sep 5, 2014 7:44am Sep 5, 2014 7:44am
Quoting eitan1010
{quote} TP hit+ 95 pips..

Great One Proff
  • #7,235
  • Sep 5, 2014 7:47am Sep 5, 2014 7:47am
Quoting eitan1010
{quote} TP hit+ 95 pips..
  • #7,236
  • Sep 5, 2014 8:16am Sep 5, 2014 8:16am
Hello eitan1010,
Please note that I sent you my e-mail adress by pm (at 2 days ago). Le me know if you received it. If it's any problem let me know.
Thank you so much for all your support
  • #7,237
  • Sep 5, 2014 8:25am Sep 5, 2014 8:25am
Conditions met, but it seems movement already done for this week in AC and AU. I will stay out for now
  • #7,238
  • Sep 5, 2014 8:28am Sep 5, 2014 8:28am
Quoting cariddi74
Conditions met, but it seems movement already done for this week in AC and AU. I will stay out for now
Yes, serious resistance at this level, and Friday also.
I took it anyway, since im on demo and just want to see what happens. Mostly for scientific reasons of research!
  • #7,239
  • Sep 5, 2014 8:36am Sep 5, 2014 8:36am
Quoting spufuz
{quote} Yes, serious resistance at this level, and Friday also. I took it anyway, since im on demo and just want to see what happens. Mostly for scientific reasons of research!


Maybe i will take AC within the end of the day,if decent (but not super excessive) retracment done...cause the weekly fibo of THIS week (not possible to trace it now with absolutely centainty it won't change...but, very possible it won't), should confirm we stay above 61.8 level...so bullish attitude guaranteed
  • #7,240
  • Sep 5, 2014 8:43am Sep 5, 2014 8:43am
Quoting cariddi74
{quote} Maybe i will take AC within the end of the day,if decent (but not super excessive) retracment done...cause the weekly fibo of THIS week (not possible to trace it now with absolutely centainty it won't change...but, very possible it won't), should confirm we stay above 61.8 level...so bullish attitude guaranteed
This weeks (at the moment) 61.8 fibo is just below the green Go Long line so I guess that would be a great place to take entry after a retrace and all conditions are still met.
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