Follow The Bouncing Pip - page 180
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Looks good. Goinglite
Thanks.
May i see yours?
Thanks.
I posted this chart earlier.
Entry is the Green Candle touching the zigzag line and down arrow. MFI must be over 80.
I don't trade price action.
Goinglilte
still here
Well folks, I am still here. Been busy opening new account. Should be back live trading next week.(if i trade at all, because it is getting close to christmas)
Just wanted to say thanks for everyone for keeping the thread active.
See you next week!
hi
closing the second week of december in marketiva
unstable week with a monthly +96% realized profit from +60% and -35% floating from -1%
percentual values are calculated in relation with the account money of the start of the month
thx to all
I posted this chart earlier.
Entry is the Green Candle touching the zigzag line and down arrow. MFI must be over 80.
I don't trade price action.
GoinglilteIs your "Down Arrow" are the zigzag pointer with the setting of 100,75,15 ? Btw, your patience in waiting for the signals is good. You only trade using FTC?
Is your "Down Arrow" are the zigzag pointer with the setting of 100,75,15 ? Btw, your patience in waiting for the signals is good. You only trade using FTC?
I use the same settings as Bigbear using his FTC system. I also have my own systems that are separate and private.
Goinglite
Really Need A Definite Stoploss And Takeprofit
I really need a definite S/L and T/P for most of the pairs in all their various timeframes b'cos GBPJPY is really volatile and GBPUSD is not as volatile......
I like your system and I would love to try it, I am seeing so many indicators that I don't know which group to use.....
If possible, just pack all useful indicators and zip them 2gether, then post them...
Thanks
I really need a definite S/L and T/P for most of the pairs in all their various timeframes b'cos GBPJPY is really volatile and GBPUSD is not as volatile......
I like your system and I would love to try it, I am seeing so many indicators that I don't know which group to use.....
If possible, just pack all useful indicators and zip them 2gether, then post them...
ThanksIf you read the thread you will see that the indicators Bear uses are on the first posting of this thread. MFI is already part of MT4. I suggest reading the thread it is well worth it.
I really need a definite S/L and T/P for most of the pairs in all their various timeframes b'cos GBPJPY is really volatile and GBPUSD is not as volatile......
I like your system and I would love to try it, I am seeing so many indicators that I don't know which group to use.....
If possible, just pack all useful indicators and zip them 2gether, then post them...
ThanksThis system is not for "all" pairs. The main focus of this methodology is the gbp/jpy.
Goinglite
I really need a definite S/L and T/P for most of the pairs in all their various timeframes b'cos GBPJPY is really volatile and GBPUSD is not as volatile......
I like your system and I would love to try it, I am seeing so many indicators that I don't know which group to use.....
If possible, just pack all useful indicators and zip them 2gether, then post them...
Thanks_________________________________________________________________
UPDATE 12/03/2007
Hello all,
First I want to thank all of you for the support. Forex11 & I never thought this would take of they way it did. Thank you.
Now down to business. As I said somewhere on this thread I would only be updating this original method with any new additions once I was satisfied with its performance & it still adhered to our K.I.S.S. methodology. So officialy I will be adding the MFI (Money Flow Index) with 80/20 settings. I will be & have been testing certain indis & possibly will be updating again in the near future. I would like to ask Forex11 (Co-Creator FTC) if he would like to post his methodology. Below is screen shots of the my current methodology.
I have 3 charts set up. A 30M, 1HR & 4HR.
If I see a signal like this:
I move on to the 1HR. Then I see this:
I move on to the 4HR & then I see this:
So as you can see I look for confirmation on all 3 charts. You can always take it off the 1Hr if you like but I prefer the 4 HR. When you see all 3 its a super strong indicator that it will go in that direction. Thats how I trade it. Simple & straight forward.
As for exits & stoploss. To make it simple if you use a 1HR GBP/JPY I reccomend at least 75 pip SL. on the 4 HR a 200 pip SL. As for exits you can use the next signal or a profit point of your choosing. As for me I use the MFI to see how close its being overbought/oversold, look for upcoming news that my affect your trade & to make sure my risk reward is at least 2-1. Never risk more that what you will gain. Put bluntly its stupid.
The indis below are the indis im using & the TPL. You must use the same indis I use otherwise the TPL wont work. But you can always just add the indis as well.
Take Care & good luck.
Bear-
_________________________________________________________________
Hey All,
I was trying to get help making an EA out of this & it was suggested that I post it here so people will get comfy with it.
Before I get into it I have a few things to say.....
Yes you will lose.
But with proper money management & practice you can do pretty good.
All the tools needed are available for download. This system only works on MT4 brokers.
Heres how it works.
On a 1 hour (aggressive) or a 4 hour (optimal) chart, place the ZIGZAG POINTER & NON LAGGING ZIGZAG indicator with the inputs supplied, on a candle chart with period separators.
How To Enter 4 Hour Chart
When you see an arrow & the Zig-Zag Line, go in that direction. Place your stop according to your risk appetite. I use at 60 on a 4 HR & 20 on a 1 HR depending on which pair you use (I use the EUR/JPY or GBP/JPY 1hr or 4 hr) & your risk appetite, you can set your goals. Your trade will go until you hit your goal or the next bounce with an Arrow.
If you dont see a new arrow yet, this trade MIGHT not be done. You have 2 options.
1)You can get out & wait for the next arrow.
2)You can adjust your stop to capture some pips & ride it out.
The reason I say that is because I have noticed that more than a few times the trend will bounce & retrace for a while, then continue. I have used the bounce as stop & a chance to add to my positions.
A few points are if the overall trend is long & you see a short signal, chances are its a small retrace so it is more risky. However its a good chance for a quick profit.
How To Enter 1 Hour Chart
If you choose to use a 1 hr chart I recommend that you get out at each bounce or your specified targets.
This is a serious trading system. I have been scoffed at about this but I have been using it.
If you have the time I think you should demo it.
Before I forget, yes the arrows move. If a new high/low is established, the arrow will move to the next PROBABLE reverse point. So backtesting is useless. Only forward testing applies & thats why I know it works.
Constructive comments & suggestings are welcome.
Thank you for your time
Bear-
As per Mr. Pips Request here is a link to all indis:
https://www.mql5.com/en/forum/177573/page102All the tools are found on my first post.
If you want TP & SL I will suggest some for you only based on the GBP/JPY because thats the pair I trade.
1 HOUR CHART
SL= 75-150
TP= Next Leg Of NLZZ or ARROW or MFI TOP OUT or BOTTOM OUT
4 HOUR CHART
SL= 250-400
TP= Next Leg Of NLZZ or ARROW or MFI TOP OUT or BOTTOM OUT
Good Luck
Bear-