Follow The Bouncing Pip - page 234
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All trades still in positive territory @ sunday open. Two new trades taken just a few minutes ago.
This week-end, I set trailing stops for all pairs at ADR/2. Let's see what happens.
I wish everyone a super great trading week.hello Ms_Mel,
first i will say: great results. maybe you would like to share your positions to compare with mine/our positions.
i took a trade long @ 1.6302 EUR/AUD 7th July 7:07 GMT IBFX 0.22 minis.
still at +35 pips
cheers PriNova
hello Ms_Mel,
first i will say: great results. maybe you would like to share your positions to compare with mine/our positions.
i took a trade long @ 1.6302 EUR/AUD 7th July 7:07 GMT IBFX 0.22 minis.
still at +35 pips
cheers PriNovaHi PriNova,
I have currently 48 open trades, of which 19 are new for this week. In this group, I too have a euraud long taken at 2:00 am gmt @ 1.6278 which is currently at +95 pips (0.1 lot). This is on the 1H.
I see this pair as having a lot of potential to the downside, however and am currently in a short in my live account based on the daily bars which are definitely going in that direction in the long term (but right now we have a nice retracement).
Have a great day!
ms_mel,
19 new trades open? what kind of strategy you use? i use the 3tf method. with laguerre and qqe indi additional for entry confirmation.
i try to understand why 19 new trades.
mabye you could make light behind the scene for me.
regards PriNova
ms_mel,
19 new trades open? what kind of strategy you use? i use the 3tf method. with laguerre and qqe indi additional for entry confirmation.
i try to understand why 19 new trades.
mabye you could make light behind the scene for me.
regards PriNovaJust scroll a few posts back (starting here #2327), I explain (roughly) what I’m doing. But basically, I’m testing 28 pairs (see post where I list them) on the 1H timeframe. I use no filters for entries except for trades being taken on the 3rd bar. Lot sizes are 0.1 and max number of trades per pair is set to 6. For exits, I simply apply a trailing stop (the 4th option in the ea at the bottom – not sure it works, I had to do it manually so far) and the trailing stops are each pair’s ADR (Average Daily Range) divided by 2. Every Sunday, I check all the pair’s ADR’s and adjust accordingly. Stop losses are each pair’s ADR. The ea version I'm using is "bouncingpipeaMpower42".
I had a rough start 2 weeks ago as I had put an entry filter (I can’t remember which one) which caused trades to be entered then almost immediately exited or exited on the next bar because a new arrow appeared (or something). So now, without this filter, the “bad” trades are kept (up to 6) and the new entries simply act as price “averagers”.
Of course money management would need to be taken into consideration – I wouldn’t trade like this live – don’t forget I’m in the initial phases of testing, so I’ll adjust as I go along. But apart from the initial drawdown (which I explained a few posts ago), this system is really impressive. As I type, here is where I stand:
Initial capital: 5000.00
Current balance: 8658.00
Equity 9475.00
Margin: 1595.00
Free margin: 7880.00
Margin level: 594.04%
Open trades:817.00
Hope this helps,
Just scroll a few posts back (starting here #2327), I explain (roughly) what I’m doing. But basically, I’m testing 28 pairs (see post where I list them) on the 1H timeframe. I use no filters for entries except for trades being taken on the 3rd bar. Lot sizes are 0.1 and max number of trades per pair is set to 6. For exits, I simply apply a trailing stop (the 4th option in the ea at the bottom – not sure it works, I had to do it manually so far) and the trailing stops are each pair’s ADR (Average Daily Range) divided by 2. Every Sunday, I check all the pair’s ADR’s and adjust accordingly. Stop losses are each pair’s ADR. The ea version I'm using is "bouncingpipeaMpower42".
I had a rough start 2 weeks ago as I had put an entry filter (I can’t remember which one) which caused trades to be entered then almost immediately exited or exited on the next bar because a new arrow appeared (or something). So now, without this filter, the “bad” trades are kept (up to 6) and the new entries simply act as price “averagers”.
Of course money management would need to be taken into consideration – I wouldn’t trade like this live – don’t forget I’m in the initial phases of testing, so I’ll adjust as I go along. But apart from the initial drawdown (which I explained a few posts ago), this system is really impressive. As I type, here is where I stand:
Initial capital: 5000.00
Current balance: 8658.00
Equity 9475.00
Margin: 1595.00
Free margin: 7880.00
Margin level: 594.04%
Open trades:817.00
Hope this helps,Ms_Mel,
yes this helps a lot. Thank you for your work and explanation. Additional questions i have. You said stoplosses are each pairs ADR. for the 'bad' trades too?
for example: you get your entry signal and open position. then after 6 bars you get a new entry signal (no alert candle i mean) you hold the first position till stoploss or did you take all the eventually 6 'bad' positions till positive price average? is there an indic for price average?
second question: do you count the alert candle as the first candle for confirmation or the very new candle after close of the alert candle? what i mean is, is the 3rd or 4th candle the entry? sorry for bad english.
We trade very similar i found out. What i try to improve is the exit target. i don't know if i should take the reversed signal of only a new zig zag leg or a new arrow or both for exit. I found out if you hold the (6) trades until a new signal appear and it would be a 'bad' signal you automaticlly hedge the new (bad) positions until you reach the 6th available position or trailingstop occurs. i hope you understand what i mean. and my math is right.
Trailing stop some people say it will be not profitable in the long - term. what do you think about it, cause you use it?
regards PriNova
Hi everyone, thanks for those who put the effort in to code v42 of the EA. I have been running it on many pairs and timeframes for about 3 weeks $10,000 is now at $16,900 in demo account
Hello bigbear3391,
I want really to thank you for this threat since its the first strategy I used and mad me money.
Yesterday I entered the market using your bouncing system with the following results:
Long GBPUSD TP = 603.36$ (95pips);
Short USDJPY TP = 579.52 $ (97pips);
Long EURUSD still open = now up 432.49$ (68pips);
Short USDCHF still open = now up 416.15$ (67pips);
Long NZDUSD still open = now down 184.45 (-29pips).
Total: 1847.07$ (298 pips)
Very nice results for my first trades, I used 1 lot for each trade but my brokers pips are much thighter than other brokers (I think I have to change my broker)
I waiting for more signals now.
BigBear, this threat is really huge, I could not read it all, but you asked for an EA for this system, is there any EA for this system??
If yes please attach it if you can.
Thank you very much
hello hamoudi,
welcome on board. nice results you made.
this is the last EA from mpower version 42. if you have questions, go ahead. there are a lot helpful and nice people here.
regards PriNova