Follow The Bouncing Pip - page 183
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Talking about
Hey guys, I am Talking about Techinvest ...the post above me. Sorry.
I used to consider him my friend until he stole a ton of cash from me, that was set a side for my wedding. He just ignores me now, won't call me or talk to me anymore. I gave him the money to work on a project together and he just flat out took it!! It Was About A year ago, and he just resurfaced on this thread, so when i saw him i wanted to make sure he knew I was still around. He is a real jerk, don't let him befriend you because his motives are NOT genuine. If You get bored Google his name Mclean Vancleve. It comes back as a scammer. BTW Mclean, The wheels of justice do move slowly, but they do infact move. I have been working with the AG, FBI and the DDLE (Dallas Dept of law enforcement). See You real soon!
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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-
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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/page102Dear :
Could you please tell me how to use the signal bars.
regards
A Call out to the BigBear
Hello to One And all of the characters of this One Jungle book....it was a great read when i was small and reading this thread was one on another level
Back to the swirling questions. The strategy is easy to follow however the recommended 3 time frames ligning up to trigger an entry though optimal, found that the 4hr and 1 hr would touch the lower 20's of MTF but the 30 min would not....but it touched the lower 20's when the 4hr and 1 hr did not.
I guess the question i am trying to ask is how to take a trade having simultaneous confirmation only on two higher time frames .And on an average is such an entry recommended
Perhaps a veteran to this strategy might say ..."elementary dear watson"
Here's another chart. Notice how the SMA of RSI helps tighten the Entry by reducing the exposure to excessive repaints.
In this chart, we were able to filter out a repaint (as shown by the vertical red line) and nail the bottom.
Entry is the Candle "Touching" the Zigzag line and Arrow. No previous bar takeout entry, No Price Action Entry, and No candle stick patterns.
Goinglitewould you mind posting you tpl file please
Thanks
TM
Guys, I have noticed that the Non Lag Dot indicator sometimes repaints.
Is anyone else experiencing the same thing?
Thanks.
Guys, I have noticed that the Non Lag Dot indicator sometimes repaints.
Is anyone else experiencing the same thing?
Thanks.Set Colorbarback to "0". This should solve your problem..
trades
Since I have had to find a new broker this month, i have been demo trading.
here are my trades.
Well Done FX11
Nice job!!! Where can I find your template??
Thanks
same
Nice job!!! Where can I find your template?? Thanks
Its the same as bigbears. on the first post
Lot size
Nice going there, FX11. Can you tell me how you decide on lot size? I've noticed that your lot sizes range from 1 to 10 lots, does it depend on how you feel about entry point?
Thanks
Slipper