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The similarity system

  • #9,101
  • Sep 23, 2014 10:56am Sep 23, 2014 10:56am
i am noticing everybody is so busy chasing the price and forgetting something very important: let the price come TO YOU. you do not have to be in trade 100% of the time and trade every single signal you see. if you want your day end in profit, be extremely picky with setups and the numbers.

wait for break out of this area for potential profit - look for 5 min candle close above or below the zone. do not stay in trade more than 15 minutes. always remember: THE BEST PROFIT IS THE QUICKEST PROFIT.
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As Above, So Below
  • #9,102
  • Sep 23, 2014 11:00am Sep 23, 2014 11:00am
Quoting Eurusdd
General. Shot fired at 1.28642 eurusd time.
Scared me away from my short term longs with very small profits, will keep the longer term longs on, and hopefully add some more around 1.2840-46
That area looks ugly
  • #9,103
  • Sep 23, 2014 11:01am Sep 23, 2014 11:01am
Quoting cfdtaleong
{quote} Gunning for 2845 next?
PSYCHIC!!


You've got it bro!
A pip is only worth it if you know how much you risked to earn it
  • #9,104
  • Sep 23, 2014 11:03am Sep 23, 2014 11:03am
Quoting tashkent
i am noticing everybody is so busy chasing the price and forgetting something very important: let the price come TO YOU. you do not have to be in trade 100% of the time and trade every single signal you see. if you want your day end in profit, be extremely picky with setups and the numbers. wait for break out of this area for potential profit - look for 5 min candle close above or below the zone. do not stay in trade more than 15 minutes. always remember: THE BEST PROFIT IS THE QUICKEST PROFIT. {image}
I think that one of the important principles laid down in this thread is

: do not chase price!!!

I do not believe today most people are chasing price. We drew our red line (1.2857) and waited for price to run back to us. She did but the funny thing is there is still a little to go down there. so we are just finishing the kill!
  • #9,105
  • Sep 23, 2014 11:03am Sep 23, 2014 11:03am
Quoting NorthTrader
{quote} Hey hepsibah, your low-h scalping system just gets better and better! Thank you so much for sharing. Can't wait to try it on the Nikkei tomorrow! Just a couple of points: 1. I take it you still ignore the mid-bar TZs? 2. Good place for a SL would be just above the broken TZ I imagine? (in the case of your example) Thanks and good luck!
Sun came out so have been taking the rays instead of watching the action.

The best that price could do after the buy signal on the H1 was a measly .1 of a pip so that's obviously a loss. On the positive side, I was also in a short from the M30 signal for much of it and rode that down to 1.2857 (mega thx to Eurusdd for that one - I would have come out much sooner). I should also catch some of it on the way back up when I get signals to buy from lower tf's. So I'm up for the day and getting quite confident in the strategy.

NT - to answer your questions.

I don't use mid bar TZ's for signals. However, when you thing about it, the bars that I use as entry triggers are in fact creating mid bar TZ's. I hadn't thought about it until you asked the question but it is quite a revelation, I need to ponder that more.

SL's at the moment are a signal in the opposite direction on the same tf as the one that triggered the entry. These can be quite large but, as explained above, it is extremely likely that a smaller tf will have already got me into a hedge trade and ones that fail will almost certainly be returned to at some point so much should be made up when it turns back. I recognise I need to spend a bit more time analysing if I can improve on this but the number of winning trades is extremely high so I believe it will keep me safe for now.
  • #9,106
  • Sep 23, 2014 11:05am Sep 23, 2014 11:05am
Quoting tashkent
i am noticing everybody is so busy chasing the price and forgetting something very important: let the price come TO YOU. you do not have to be in trade 100% of the time and trade every single signal you see. if you want your day end in profit, be extremely picky with setups and the numbers. wait for break out of this area for potential profit - look for 5 min candle close above or below the zone. do not stay in trade more than 15 minutes. always remember: THE BEST PROFIT IS THE QUICKEST PROFIT. {image}
You know what TashK, that's how I'm treating all my trades now. I remember taking huge pips off that 200pip drop and then took another 100+ but left 60 of it on the table....cos I thought I was gonna get into a "position trader" mentality. Soooooo regret that.

And also, FX-Jay has shown that small consistent profits all round is the best way.

And you're right.... let it come to you. With my discovery today of the Uneven TZ, I've virtually eliminated the chart scanning every 15M.... I know what conditions are required now. It's a big load off my mind! It comes to me!!! MWAHAHAHAHA!
A pip is only worth it if you know how much you risked to earn it
  • #9,107
  • Sep 23, 2014 11:19am Sep 23, 2014 11:19am
Quoting vlady1974
{quote} You know what TashK, that's how I'm treating all my trades now. I remember taking huge pips off that 200pip drop and then took another 100+ but left 60 of it on the table....cos I thought I was gonna get into a "position trader" mentality. Soooooo regret that. And also, FX-Jay has shown that small consistent profits all round is the best way. And you're right.... let it come to you. With my discovery today of the Uneven TZ, I've virtually eliminated the chart scanning every 15M.... I know what conditions are required now. It's a big load...
i also have let hundreds of pips profit slip through my hands in past trying to be a position trader. now i still do intraday/swing trades but most of the time i wait for quick profits where i can get in and out within 5-10 minutes with whatever i can gain. one thing i hate in trading is to get stuck with a trade.
i see you are making valid calls; must be on money
keep up the good work!
As Above, So Below
  • #9,108
  • Sep 23, 2014 11:26am Sep 23, 2014 11:26am
Quoting tashkent
{quote} i also have let hundreds of pips profit slip through my hands in past trying to be a position trader. now i still do intraday/swing trades but most of the time i wait for quick profits where i can get in and out within 5-10 minutes with whatever i can gain. one thing i hate in trading is to get stuck with a trade. i see you are making valid calls; must be on money keep up the good work!
Know what you mean!
Appreciate that, TashK. Many thanks
A pip is only worth it if you know how much you risked to earn it
  • #9,109
  • Sep 23, 2014 11:30am Sep 23, 2014 11:30am
The guy working on my indicator project just sent me the picture supporting the 1.2857 number!!! As you can see, he is perfecting the art of identifying recurrent prices/zones!!! Once the arrow color went red, he said, that price level will attract and it did!!!

The 14 conditions i gave him seem to model the market VERY WELL!!!
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He will be done with final product in 2 months!!!
  • #9,110
  • Sep 23, 2014 11:41am Sep 23, 2014 11:41am
Quoting Eurusdd
The guy working on my indicator project just sent me the picture supporting the 1.2857 number!!! As you can see, he is perfecting the art of identifying recurrent prices/zones!!! Once the arrow color went red, he said, that price level will attract and it did!!! The 14 conditions i gave him seem to model the market VERY WELL!!!{image} He will be done with final product in 2 months!!!
Every day more impressed.
Awesome !!
  • #9,111
  • Sep 23, 2014 11:45am Sep 23, 2014 11:45am
Ok. General: Mission accomplished!!! 10 bullets IN!!! On next flight home!
  • #9,112
  • Sep 23, 2014 11:47am Sep 23, 2014 11:47am
Quoting Eurusdd
Ok. General: Mission accomplished!!! 10 bullets IN!!! On next flight home!
im seeing a switching to bullish bias in the making. whats your opinion?
Don't use both feet to test the depth of the river
  • #9,113
  • Sep 23, 2014 11:48am Sep 23, 2014 11:48am
Quoting Eurusdd
Ok. General: Mission accomplished!!! 10 bullets IN!!! On next flight home!
Cashed in! LOL... we are in sync!

Mission accomplished. We have the initiative.
A pip is only worth it if you know how much you risked to earn it
  • #9,114
  • Sep 23, 2014 11:50am Sep 23, 2014 11:50am
Quoting Strawbale
{quote} im seeing a switching to bullish bias in the making. whats your opinion?
I am already on board my ship, heading home far away from this monster! catch me if you can!!!
  • #9,115
  • Sep 23, 2014 11:52am Sep 23, 2014 11:52am
Quoting tashkent
i am noticing everybody is so busy chasing the price and forgetting something very important: let the price come TO YOU. you do not have to be in trade 100% of the time and trade every single signal you see. if you want your day end in profit, be extremely picky with setups and the numbers. wait for break out of this area for potential profit - look for 5 min candle close above or below the zone. do not stay in trade more than 15 minutes. always remember: THE BEST PROFIT IS THE QUICKEST PROFIT. {image}

let me show you this in practice. the little triangle is my entry. check my previous chart and compare with this one. zero risk trade (only spread). profit taken. ready for next setup.
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As Above, So Below
  • #9,116
  • Sep 23, 2014 11:56am Sep 23, 2014 11:56am
The Uneven Transient Zone seems to have been a success today with +82 pips which wasn't actually optimised since I left 3 trades early in the morning due to work constraints.

Before I start wagging the dog, I am cognisant of the fact that the market conditions for EURUSD is ranging and not trending. Predicting turns on a set of conditions is one thing, but if the prevailing trend conditions are different I suspect that the approach will have to be modified.

Let us not forget that a Trend-taking Strategy does not work in Ranging Prices. And Range-Taking Strategies don't work in Trending Markets.
This initial foray, I would suggest is a Ranging strategy until we are able to test it in full anger against a higher time-frame trend move. Hopefully this will not be too long into the future.
A pip is only worth it if you know how much you risked to earn it
  • #9,117
  • Sep 23, 2014 11:59am Sep 23, 2014 11:59am
Quoting Eurusdd
The guy working on my indicator project just sent me the picture supporting the 1.2857 number!!! As you can see, he is perfecting the art of identifying recurrent prices/zones!!! Once the arrow color went red, he said, that price level will attract and it did!!! The 14 conditions i gave him seem to model the market VERY WELL!!!{image} He will be done with final product in 2 months!!!
Wow this is a great result! And presumably, this is working on all timeframes?
Can you imagine the damage this would cause the monster on 4H, Daily, Weekly!
A pip is only worth it if you know how much you risked to earn it
  • #9,118
  • Sep 23, 2014 12:27pm Sep 23, 2014 12:27pm
Done for the day!

7 trading days in a row, not one single loss! 110/110
Account up 49.6% without any trade having a volume > 1

This is closer to magic then it is to reality

I encourage everyone new to this thread to read each and every post.
Trust me, you won't regret it!!
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  • #9,119
  • Edited 12:45pm Sep 23, 2014 12:29pm | Edited 12:45pm
Quoting vlady1974
{quote} Wow this is a great result! And presumably, this is working on all timeframes? Can you imagine the damage this would cause the monster on 4H, Daily, Weekly!
There is only one line. That is why I believe there is a pre-determined level for eurusd and daily transactions around the world do not cause much deviations to this line. The line you see on that chart is the same for all time-frames with just +/- 1/2 pips deviations.
  • #9,120
  • Sep 23, 2014 12:30pm Sep 23, 2014 12:30pm
Quoting vlady1974
{quote} Wow this is a great result! And presumably, this is working on all timeframes? Can you imagine the damage this would cause the monster on 4H, Daily, Weekly!
sent you a PM vlady!
Don't use both feet to test the depth of the river
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