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BO System? Here is "The Italian jOB"

  • #141
  • Sep 17, 2014 6:38am Sep 17, 2014 6:38am
Great results Steve.

Maybe I have it setup incorrectly, but from what I noticed it does not always reverse straight away. Sometimes it takes 2-3 extra candles before the movement changes direction.
  • #142
  • Sep 17, 2014 6:45am Sep 17, 2014 6:45am
Quoting MikeW64
Great results Steve. Maybe I have it setup incorrectly, but from what I noticed it does not always reverse straight away. Sometimes it takes 2-3 extra candles before the movement changes direction.
Hi Mike, I use the second stochastic indicator so it filters out a lot of bad trades.
  • #143
  • Sep 17, 2014 6:54am Sep 17, 2014 6:54am
Great work Steve.

I too have had great results this morning, 2 losses & 10 wins all on 5 min charts.
The only indicator I`m using is a single shoc, not even looking at a chart.
Plan, Patience, Profit
  • #144
  • Sep 17, 2014 6:56am Sep 17, 2014 6:56am
Quoting stevek11
Hi Mike, I use the second stochastic indicator so it filters out a lot of bad trades.
Thanks, I double checked my parameters for my second stochastic indicator and I had it setup incorrectly. When I enabled it the signals started to look more promising
  • #145
  • Sep 17, 2014 6:56am Sep 17, 2014 6:56am
Quoting sugarman
Great work Mike. I too have had great results this morning, 2 losses & 10 wins all on 5 min charts. The only indicator I`m using is a single shoc, not even looking at a chart.
Stochastics can be good but you can get many bad signals from them especially when there is divergence.
But then again it depends on how you use it, it sounds like you have it down to a fine art.
  • #146
  • Sep 17, 2014 7:01am Sep 17, 2014 7:01am
Quoting stevek11
{quote} Stochastics can be good but you can get many bad signals from them especially when there is divergence. But then again it depends on how you use it, it sounds like you have it down to a fine art.


I hope so.
Plan, Patience, Profit
  • #147
  • Sep 17, 2014 7:21am Sep 17, 2014 7:21am
Quoting sugarman
Great work Steve. I too have had great results this morning, 2 losses & 10 wins all on 5 min charts. The only indicator I`m using is a single shoc, not even looking at a chart.
make that 12 wins.
Plan, Patience, Profit
  • #148
  • Sep 17, 2014 7:26am Sep 17, 2014 7:26am
Quoting sugarman
make that 12 wins.
blimey! I'm definitely doing something wrong Even after double checking the matrix settings, it looks like it takes two bars after the signal for the price to move in the right direction.

You know that success rate that shows up at the top right corner on MT4? What does it show for you? For me it ranges between 50 - 60% for different pairs on 5m charts.
  • #149
  • Sep 17, 2014 7:36am Sep 17, 2014 7:36am
Quoting MikeW64
{quote} blimey! I'm definitely doing something wrong Even after double checking the matrix settings, it looks like it takes two bars after the signal for the price to move in the right direction. You know that success rate that shows up at the top right corner on MT4? What does it show for you? For me it ranges between 50 - 60% for different pairs on 5m charts.
Mike, as I mentioned in my previous posts, I`m not using any matrix, dashboards etc. I have one indicator, a set of shocs on a 5 min chart and that`s it, keep it clear and simple.
Plan, Patience, Profit
  • #150
  • Sep 17, 2014 7:39am Sep 17, 2014 7:39am
Quoting sugarman
I`m not using any matrix, dashboards etc. I have one indicator, a set of shocs on a 5 min chart and that`s it, keep it clear and simple.
And here I was thinking you're talking about the "Italian Job" system
  • #151
  • Sep 17, 2014 7:44am Sep 17, 2014 7:44am
Quoting MikeW64
And here I was thinking you're talking about the "Italian Job" system
I agree.
I think the people want to follow a system, and not applaud results without explanations of a system!
  • #152
  • Sep 17, 2014 7:59am Sep 17, 2014 7:59am
Quoting SwingMan
{quote} I agree. I think the people want to follow a system, and not applaud results without explanations of a system!
Again as I mentioned before, I was trading a system like this previous to ilMikes thread even before he started this thread.
If Mike doesn`t want me here then I`ll gladly leave his thread, oh another winner aud/usd.
Plan, Patience, Profit
  • #153
  • Sep 17, 2014 8:07am Sep 17, 2014 8:07am
Quoting sugarman
Again as I mentioned before, I was trading a system like this previous to ilMikes thread even before he started this thread. If Mike doesn`t want me here then I`ll gladly leave his thread, oh another winner aud/usd.
Hey I wish you all the winning trades you can get.
To be honest I would appreciate if you could describe your system and the steps we could take to replicate it. That would be really beneficial for followers of this thread I think.
  • #154
  • Sep 17, 2014 8:07am Sep 17, 2014 8:07am
Quoting sugarman
{quote} Again as I mentioned before, I was trading a system like this previous to ilMikes thread even before he started this thread. If Mike doesn`t want me here then I`ll gladly leave his thread, oh another winner aud/usd.
If you dont mind me asking sugarman, what stochs are you using?
  • #155
  • Sep 17, 2014 8:54am Sep 17, 2014 8:54am
Quoting stevek11
{quote} If you dont mind me asking sugarman, what stochs are you using?
same as Mike`s.
Plan, Patience, Profit
  • #156
  • Sep 17, 2014 9:47am Sep 17, 2014 9:47am
Quoting sugarman
{quote} same as Mike`s.
Ok I see, what are your entry rules?
  • #157
  • Sep 18, 2014 1:46am Sep 18, 2014 1:46am
Quoting MikeW64
Guys, please. Let's just stop this nonsense and get back to productive discussion. If you really had such a success with the Italian Job system, who don't you put the money where your mouth is, post some screenshots of your setup in MT4, describe your strategy so we can all learn from you.
Good Morning Mike

Just placed my first trade buy usd/chf, I will get some screenshots up later.
Plan, Patience, Profit
  • #158
  • Sep 18, 2014 3:06am Sep 18, 2014 3:06am
usd/chf 1 loss and 2 win
Attached Image
Plan, Patience, Profit
  • #159
  • Sep 18, 2014 3:11am Sep 18, 2014 3:11am
usd/jpy 1 win
Attached Image
Plan, Patience, Profit
  • #160
  • Sep 18, 2014 4:05am Sep 18, 2014 4:05am
Quoting sugarman
usd/chf 1 loss and 2 win
Thank you sugarman. I wonder if I can replicate these signals on my MT4. I'll have to look at that tonight. In theory if I use same settings for the stochastic it should fire up the signal on the same time right? I see ilMike used two sets of stochastics for the matrix, 12,3,3 and 14,3,1. Do you have yours set the same? Thanks.
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