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Price Action Trading with Indicators! The Freebie System

  • #8,001
  • Apr 4, 2016 6:17am Apr 4, 2016 6:17am
Hi Xmess7,

I have just came across to this thread and really interested on what you are doing right now and I am going to run it on demo 24/7 on my vps. Just to make it clear for me, is that FreebieBOLOSO EA containing both 3C and BOLOSO? If it does, Do I just just need to attach the EA and load one of the set files and let it run? Only need to keep an eye on the running trades as you mentioned on your post above as it needs some interventions right? Also last question, Can I run it on higher timeframe like H1 or above bcoz I have a day job so monitoring on trades on higher timeframe would be easier for me.

Sorry for asking too many questions hope you don't mind

Regards,
William
  • #8,002
  • Apr 4, 2016 10:06am Apr 4, 2016 10:06am
Jess, are we going to discuss the BOLOSO EA on this thread or do that on the other one? Yesterday I had 5 pending orders and one this morning. JPYUSD pend took a trade and I closed it in profit. Still have 5 pending that I am staring at.
  • #8,003
  • Edited 11:21am Apr 4, 2016 10:22am | Edited 11:21am
Quoting wwaluyo
Hi Xmess7, I have just came across to this thread and really interested on what you are doing right now and I am going to run it on demo 24/7 on my vps. Just to make it clear for me, is that FreebieBOLOSO EA containing both 3C and BOLOSO? If it does, Do I just just need to attach the EA and load one of the set files and let it run? Only need to keep an eye on the running trades as you mentioned on your post above as it needs some interventions right? Also last question, Can I run it on higher timeframe like H1 or above bcoz I have a day job so monitoring...
Welcome William:

Boloso and 3C are two separate approaches. Boloso is actually the approach Dredding posted on the Freebie boloso thread: http://www.forexfactory.com/showthre...24#post8811624

You can run either on higher TFs, but I think the highest u can go is D1.

Now just be aware that 3C is a variation of the original approach as stated on pg1. The set of rules that this EA has are more strict so consequently you will have less trades. It's easier to monitor fewer trades. When I say intervention I do not mean that you have to be there all the time monitoring trades. What I mean is that you allow the EA to take trades when u are not available and at some time at your leisure or when available you take a peak and assess if the trade taken by the EA is appropriate or not based on your sense of market direction.

Lets just say this is a semi-automated system.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,004
  • Apr 4, 2016 10:23am Apr 4, 2016 10:23am
Quoting keysharp
Jess, are we going to discuss the BOLOSO EA on this thread or do that on the other one? Yesterday I had 5 pending orders and one this morning. JPYUSD pend took a trade and I closed it in profit. Still have 5 pending that I am staring at.

John:
Lets keep the Boloso comments on this thread. I have not seen anyone post, other than me lol, over at the Boloso thread for quite some time.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,005
  • Apr 4, 2016 11:31am Apr 4, 2016 11:31am
Hello xmess7 do we use the boloso indicator from the other thread to have the arrows for trades or will the indicator already provide this? so far I don't have any pending orders
  • #8,006
  • Apr 4, 2016 11:42am Apr 4, 2016 11:42am
Quoting Checkz
Hello xmess7 do we use the boloso indicator from the other thread to have the arrows for trades or will the indicator already provide this?
Checkz!!! Good to see yer text!! Where you been!>!>?
I like your nickname... lol keep them checkz coming in..

Ah.. yea.. lets use that indicator, if you have it with ya please post it, I am on my cell phone at the moment so I am all thumbs...
One thing though, the boloso indicator will show you arrows but keep in mine that they are pointing to where a pending order will be placed after price has fallen or risen away from the zigzag/3sema dot. So at the moment the boloso indicator may be a little confusing.

The good thing about the boloso EA is that since it placed pending orders you have time to see if the conditions matched.

Oh one thing I forgot to mention. The boloso EA will only setup a pending order if the stop distance is at the least 40 pips. So if u see a valid condition and no pending order set then more than likely it's cause there wasn't more than 40 pips for SL. I did this cause in previous testing trades would end up in ranging periods that usually ended up in losses. This helps to avoid these ranges.

If you guys take a look at the other thread I posted some equity curves. Those results are with the 40SL requirement. I think in one of them you will see a losing equity curve. It's not necessarily bad, I looked at the trade activity and there were many trades that ran up to several hundred pips to only end up at BE. So those equity curves even though they show a loss can actually end up being on the positive side with a little intervention.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,007
  • Apr 4, 2016 2:29pm Apr 4, 2016 2:29pm
Quoting xmess7
{quote} Checkz!!! Good to see yer text!! Where you been!>!>? I like your nickname... lol keep them checkz coming in.. Ah.. yea.. lets use that indicator, if you have it with ya please post it, I am on my cell phone at the moment so I am all thumbs... One thing though, the boloso indicator will show you arrows but keep in mine that they are pointing to where a pending order will be placed after price has fallen or risen away from the zigzag/3sema dot. So at the moment the boloso indicator may be a little confusing. The good thing about the boloso...
Hey Jess
For the BOSOLO, can you make it so it will put pending orders in both directions if a possible set up in both directions occurs. Last night I put the BOSOLO on a few charts on the H1. For example it placed a sell order on GBP/USD. But as the morning drew on, a long order was shaping up but the EA didnt pick it up. I assumed cause it already had a short order. Im using your settings from your preset files. I attached a pic. You can see the pending order it placed and the red trend line on the sema is where I thought the long should have been.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 37 KB
  • #8,008
  • Apr 4, 2016 3:16pm Apr 4, 2016 3:16pm
Quoting pp22
{quote} Hey Jess For the BOSOLO, can you make it so it will put pending orders in both directions if a possible set up in both directions occurs. Last night I put the BOSOLO on a few charts on the H1. For example it placed a sell order on GBP/USD. But as the morning drew on, a long order was shaping up but the EA didnt pick it up. I assumed cause it already had a short order. Im using your settings from your preset files. I attached a pic. You can see the pending order it placed and the red trend line on the sema is where I thought the long should...

pp22: No problem dude, that will be done on the next version. I am also going to include a trailing pending order once price is in profit (superpmf's input).

For now this is what I have been using with good success. Just be patient and check out what happens, you'll be surprised. Let the pending order fall wherever and just wait and watch. Let the pending order ride along. Beside, there is no Hurry to risk your capitol. So as the ole song says "Slow Ride.... Take it Easy.."

But If you think that you need the EA to change the pending order, for now, just cancel the order and, depending on the direction of price, it may place another pending order in direction of price. This is why I said it's sort of like trading on the 15min but in long term fashion. Oh and once u do get a filled order.. look at the H4 zeroLag Tema. Try to use that to help u stay in the trade when it goes in the opposite direction. This is what is happening right now with my long EURAUD trade. EURAUD H4 zeroLag Tema is showing positive slope (green line) but my 15min long trade is not positive yet, so for now I remain in the trade.

Just bare with it and observe what it does. I have seen price turn completely to hit a pending order that didn't seem it would happened.
Use the EYES man to determine the trend direction. Zoom out a little... just make it easy as possible fer yerself, don't overcomplicated, I know I do the same it can be confusing if u start over-looking stuff.

Right now at the moment in my VIEW, EUR is long, AUD is Short, GBP is Long. Well actually that is what I SAW several hours ago, it may of changed, I'll check in a bit...
Our AWESOME IMAGINATION is the true holy grail!
  • #8,009
  • Apr 4, 2016 10:03pm Apr 4, 2016 10:03pm
Why did the BOLOSO EA place the stop here instead of where the red arrow is. I thought that Dreddings original rules place stop at the semafor and zigzag?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (74).png Size: 40 KB
  • #8,010
  • Apr 4, 2016 10:46pm Apr 4, 2016 10:46pm
Quoting Checkz
Why did the BOLOSO EA place the stop here instead of where the red arrow is. I thought that Dreddings original rules place stop at the semafor and zigzag? {image}
Cause like I said The stop has to be more than 40 pips.
Earlier when I was testing the EA I ran into alot of those scenarios you point out on the chart and guess what... whipsaw... and loss after loss. So I placed a condition that the stop has to be at least 40 pips or more. The strategy tester showed a much improved equity curve.

These were the results after I added the conditions :

http://www.forexfactory.com/showthre...72#post8811172

http://www.forexfactory.com/showthre...10#post8811210
Our AWESOME IMAGINATION is the true holy grail!
  • #8,011
  • Apr 4, 2016 11:00pm Apr 4, 2016 11:00pm
DAmn!! I wanted to show you guys the progress of a trade.
Anyhow, this is an example of what happened. The chart is EURAUD. The pending order was placed last Friday. I Let it ride and last nite I noticed that the general move was UP or long. Plus on the H4 the zerolag Tema was with slope up. In addition EURUSD was also looking to go up. So with all those factors I left the pending or ALONE. True as you will see, the EA could of entered alot sooner and been with more profit, but it was not necessary and now the trade is in profit and will be set to BE in a bit.

The EA did it's job and all I did was from time to time peak and determined what I was going to do. So if u have a full time job, u can do this .
Oh and for in case you are wondering. Plan B would of been to exit the trade around the middle of the SL range. That way I would of given it room to move.
Attached Image (click to enlarge)
Click to Enlarge Name: Sample Boloso EURAUD.jpg Size: 376 KB
Our AWESOME IMAGINATION is the true holy grail!
  • #8,012
  • Apr 5, 2016 1:31am Apr 5, 2016 1:31am
Quoting xmess7
{quote} pp22: No problem dude, that will be done on the next version. I am also going to include a trailing pending order once price is in profit (superpmf's input). For now this is what I have been using with good success. Just be patient and check out what happens, you'll be surprised. Let the pending order fall wherever and just wait and watch. Let the pending order ride along. Beside, there is no Hurry to risk your capitol. So as the ole song says "Slow Ride.... Take it Easy.." But If you think that you need the EA to change the pending order,...
My first H1 BOSOLO trade
Letting the zerolag let me know when to close
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 32 KB
Click to Enlarge Name: GBPJPYH4.png Size: 32 KB
  • #8,013
  • Apr 5, 2016 6:48am Apr 5, 2016 6:48am
This Boloso EA is having a good beginning. So far 4 trades taken and still a nice inventory of pendings waiting in the wings. I have one trade still open and am following it on the 4hr.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 40 KB
  • #8,014
  • Apr 5, 2016 6:55am Apr 5, 2016 6:55am
Quoting Checkz
Why did the BOLOSO EA place the stop here instead of where the red arrow is. I thought that Dreddings original rules place stop at the semafor and zigzag? {image}
buddy u should be in profit now
Our AWESOME IMAGINATION is the true holy grail!
  • #8,015
  • Apr 5, 2016 6:58am Apr 5, 2016 6:58am
Quoting pp22
{quote} My first H1 BOSOLO trade Letting the zerolag let me know when to close {image} {image}
I recommend usung the zerolag to help u to stay in, use yer intuition to close or look at it on the D1 tf.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,016
  • Apr 5, 2016 7:02am Apr 5, 2016 7:02am
Quoting keysharp
This Boloso EA is having a good beginning. So far 4 trades taken and still a nice inventory of pendings waiting in the wings. I have one trade still open and am following it on the 4hr. {image}
Isn't it neat the way u can sort of see the direction of price? be sure to set yer BE when u determine that it is ok or just let the ea do it
Our AWESOME IMAGINATION is the true holy grail!
  • #8,017
  • Apr 5, 2016 1:45pm Apr 5, 2016 1:45pm
Quoting xmess7
{quote} I recommend usung the zerolag to help u to stay in, use yer intuition to close or look at it on the D1 tf.
BOSOLOMIO lol
My GBPJPY short on my first BOSOLO trade is still open at 200+ pips
My second trade with BOSOLO was a GBPUSD short. Was doing well but because I had 3C on another GBPUSD chart and a buy popped up it closed my BOSOLO short at 50 pips profit! For once something weird happened in my favor. Although the 3C glitched and did one of those open position and close position in 3 seconds.
So far very happy with BOSOLO
  • #8,018
  • Apr 6, 2016 5:54am Apr 6, 2016 5:54am
Hi Xmess,

So I opened a demo account and load the 3C and Boloso EA however both saying that my account does not have balance. Could you please help?
  • #8,019
  • Apr 6, 2016 6:41am Apr 6, 2016 6:41am
Actually nevermind, i got it working just fine.
  • #8,020
  • Apr 6, 2016 7:29am Apr 6, 2016 7:29am
Quoting wwaluyo
Actually nevermind, i got it working just fine.
wwaluyo:
Welcome. Just be aware that you may need to intervene from time to time. Let the EAs do the work of setting up/taking trades but you will need to take a peak from time to time to determine which pending orders/open orders should remain or be closed.

Of course, once you get a favorable trade then u can let the EA control the break even situation and then u can determine when it is time to close with profit.

I will try to give as many examples with the accounts I am working with, especially the live account.

Oh, and if u can try the EAs on a live account, use small lots or a small balance. That will get all the mental stuff in order as well, otherwise demos is fine.
Our AWESOME IMAGINATION is the true holy grail!
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