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Pip Farming

  • #121
  • Jan 23, 2015 9:36am Jan 23, 2015 9:36am
Quoting EternalNewB
{quote} Thanks for that it really helps f***k demo trading gone live yesterday
Wish I was brave like you E
every Saint has a past. Every Sinner has a Future
  • #122
  • Jan 23, 2015 9:52am Jan 23, 2015 9:52am
Quoting turnip15
{quote} Wish I was brave like you E
Turnip....you are ready! you have the knowledge and support to go make some pips...start with .02 lots and we will help
Plan, Prepare, Execute, Repeat
  • #123
  • Jan 23, 2015 10:00am Jan 23, 2015 10:00am
Quoting turnip15
{quote} Wish I was brave like you E
lol thanks turnip demo trading never worked for me, but I trade small it is just to build confidence

ST do you have preferred hours for this method ?

thanks
  • #124
  • Jan 23, 2015 10:09am Jan 23, 2015 10:09am
Quoting EternalNewB
{quote} lol thanks turnip demo trading never worked for me, but I trade small it is just to build confidence ST do you have preferred hours for this method ? thanks
Great question Eternal! No, I do not have any "preferred" sessions for this method. My view is since it takes at least 28 hours to form one of these fractals and 8 hours for the candle patterns, I dont pick and choose....I pretty much trade them as I see them.

With that said...I would STRONGLY suggest you do some manual backtesting so that you get a feel for how different pairs trade and what the expectancy is.
We cannot trade all pairs, so I have chosen to trade mostly the volatile Yen pairs. I want stuff that moves and moves a lot so that I can get these 100-150+ pip moves on a regular basis to trade.

Some folks might prefer the slower moving pairs and there is NOTHING wrong with that.

Like I keep saying, my goal is to make sure that as many people that want it, can indeed make this into their own method that fits their lifestyle and risk tolerance.
Plan, Prepare, Execute, Repeat
  • #125
  • Jan 23, 2015 10:19am Jan 23, 2015 10:19am
Just for those keeping score...we had a really good week here farming some pips...my little proof of concept account over at MyFXBook had what I would classify as an exceptional week....They dont come along like this but every so often
We farmed 1947 pips for a 21% gain on the account!

ANYONE can do this! Without squiggly lines and changing rules and knowing about the rice markets from 500 years ago....BUT, IT REQUIRES DISCLIPINE!!!



Many Pips

ST65
Plan, Prepare, Execute, Repeat
  • #126
  • Jan 23, 2015 10:20am Jan 23, 2015 10:20am
Quoting EternalNewB
{quote} lol thanks turnip demo trading never worked for me, but I trade small it is just to build confidence ST do you have preferred hours for this method ? thanks
You are right, I think I will use a spread bet company (UK) and trade at £1 a point. Reasoning being that if I have a stake in the outcome then I am more likely to pay close attention to what I am doing , thereby learning to be independent quicker.
every Saint has a past. Every Sinner has a Future
  • #127
  • Jan 23, 2015 10:23am Jan 23, 2015 10:23am
I would like to say thanks swing, i am new to trading, and have been battered in the much smaller time frames,, i have learnt my lesson lol, and shall now spend the weekend studying this method, and getting it right, and start afresh monday with a new outlook
All My Opinions, Are Just That, My Opinion!!!
  • #128
  • Jan 23, 2015 10:53am Jan 23, 2015 10:53am
Quoting Topgun
{quote} Sconcha Thanks for posting the indicator but I think it needs changing A) from what I see your indicator is a traditional Fractal which requires consecutive lows /highs, whereas FXCM as used in the system only needs the "Fractal" candle to have lower or higher candles either side....difficult to explain so will add pic. B) I cant see the DBHLC and DBLHC candles marked ? {image}

Hi Topgun,

You can't see the DBHLC marked because your broker quotes different prices from mine.

My indicator has a fixed built in threshold of 2 pips to find DBLHC and DBLHC patterns (swingtrade65 value).

You will not be able to see any difference from arrow type or color in my indicator if is a fractal or a DBLHC pattern, since swingtrade65 treats them as equal (signal).
  • #129
  • Jan 23, 2015 11:01am Jan 23, 2015 11:01am
Quoting sconcha
{quote} Hi Topgun, You can't see the DBHLC marked because your broker quotes different prices from mine. My indicator has a fixed built in threshold of 2 pips to find DBLHC and DBLHC patterns (swingtrade65 value). You will not be able to see any difference from arrow type or color in my indicator if is a fractal or a DBLHC pattern, since swingtrade65 treats them as equal (signal).
Hello Guys....Sconcha is right about the different broker quotes...etc

What we should all be striving for is to train ourselves to see the entry / exit spots without the aid of the indicators

I add them for the purpose of the charts I show, and they make it a little easier...but as you look at hundreds of examples and different charts, you should begin to be able to spot them from a mile away

As a side note: It is really nice to see so many people who are committed to making it in this business
Plan, Prepare, Execute, Repeat
  • #130
  • Jan 23, 2015 11:08am Jan 23, 2015 11:08am
Please don't lose the indicators from the charts yet, will let you know when i'm ready
All My Opinions, Are Just That, My Opinion!!!
  • #131
  • Jan 23, 2015 11:09am Jan 23, 2015 11:09am
Quoting scouse12345
Please don't lose the indicators from the charts yet, will let you know when i'm ready
No worries scouse.....I will always post my charts with the indicators for those that are new to this method
Plan, Prepare, Execute, Repeat
  • #132
  • Jan 24, 2015 12:10am Jan 24, 2015 12:10am
ST do you have idea/statistics about this method ?

What I am mostly interested with is the losing strikes, how many losers in a row did you suffer at max ?

I usually put in my account only enough for 5 simultaneous trades and was wondering if it would be enough for the method

Cheers and thanks
  • #133
  • Jan 24, 2015 2:08am Jan 24, 2015 2:08am
Quoting EternalNewB
ST do you have idea/statistics about this method ? What I am mostly interested with is the losing strikes, how many losers in a row did you suffer at max ? I usually put in my account only enough for 5 simultaneous trades and was wondering if it would be enough for the method Cheers and thanks
Eternal, yes I know all of the statistics for this method as far as my own trading goes.

Here is what I have experienced.
Win% 65
W/L ratio: 1.5 to 1
Max Losers in a row: 4
Max pip DD: 335
Max winners in a row:8
Max pip run up without a loss: 1059

Everyone will trade differently but this is what has happened with my trading over the last 300+ real money trades.
Plan, Prepare, Execute, Repeat
  • #134
  • Jan 24, 2015 2:55am Jan 24, 2015 2:55am
Quoting swingtrade65
{quote} Eternal, yes I know all of the statistics for this method as far as my own trading goes. Here is what I have experienced. Win% 65 W/L ratio: 1.5 to 1 Max Losers in a row: 4 Max pip DD: 335 Max winners in a row:8 Max pip run up without a loss: 1059 Everyone will trade differently but this is what has happened with my trading over the last 300+ real money trades.
Excellent, thank you so much, so my usual strategy to have enough money for 5 trades can work as a start

Thanks
  • #135
  • Jan 24, 2015 6:26am Jan 24, 2015 6:26am
Eternal,

If you don't mind me asking, are you from the Uk..?>

Require some help setting up my charts, i am using Fxcm as a broker on a demo account, just for the charts, you seem to have the charts sussed with candle and indicators etc.

Regards

scouse.
All My Opinions, Are Just That, My Opinion!!!
  • #136
  • Jan 24, 2015 10:04am Jan 24, 2015 10:04am
Hi Swing trade

Looks a great strategy. For new starters on this strategy can you advise us the best pairs and if you look at the jyp pairs, do you only trade one pair in case of DD. I'm looking at demoing this first on max 6 pairs. Hope someone can help. Great Thread!
  • #137
  • Jan 24, 2015 11:36am Jan 24, 2015 11:36am
Quoting cj2
Hi Swing trade Looks a great strategy. For new starters on this strategy can you advise us the best pairs and if you look at the jyp pairs, do you only trade one pair in case of DD. I'm looking at demoing this first on max 6 pairs. Hope someone can help. Great Thread!
cj...I trade mainly the yen pairs because they move the most. I concentrate mainly on a core set of 4 pairs but will trade any pair when an opportunity exists.

Welcome aboard
Plan, Prepare, Execute, Repeat
  • #138
  • Jan 24, 2015 11:59am Jan 24, 2015 11:59am
Quoting swingtrade65
{quote} cj...I trade mainly the yen pairs because they move the most. I concentrate mainly on a core set of 4 pairs but will trade any pair when an opportunity exists. Welcome aboard
Thanks, so to start should i look at gbp/jpy, usd/jpy, eur/jpy, cad/jpy?
  • #139
  • Jan 24, 2015 5:00pm Jan 24, 2015 5:00pm
Hello ST,
Can you please explain the setting of the system again on fxcm mt4.
Because i think you said at the beginning that it only work on fxcm trade station.
Also i can see that the fractal has difference setting. The system look great for it's simplicity.
Kind regards.
  • #140
  • Jan 25, 2015 12:59am Jan 25, 2015 12:59am
Quoting scouse12345
Eternal, If you don't mind me asking, are you from the Uk..?> Require some help setting up my charts, i am using Fxcm as a broker on a demo account, just for the charts, you seem to have the charts sussed with candle and indicators etc. Regards scouse.
Hey there, No I am not in UK but my broker uses NY close time candles (or GMT + 2 timezone)

Quoting eki
Hello ST,
Can you please explain the setting of the system again on fxcm mt4.
Because i think you said at the beginning that it only work on fxcm trade station.
Also i can see that the fractal has difference setting. The system look great for it's simplicity.
Kind regards.

Guys I cannot help you if you are using FXM station however if you are using MT4 that should be easy to do

(assuming your broker is NY close time 5 candles - GMT +2 timezone)

1. Download the fractal indicator in post 1 and install it
2. set it up with FR period 3 as shown below
Attached Image


3. Download the DBLHC-DBHLC indicator in post 106 and install it
4. here are my settings for it but change these to your liking (note that the last setting is in points not pips)
Attached Image


That's about it
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