Follow The Bouncing Pip - page 10
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Do you happen to know if the EA affects all open trades or just the trades of the specific pair who's chart you put it on? Thanks!
According to my experience you can load it on different pairs and it will manage each one of them independently The best is to load it on a demo on different pairs in a demo and see what it is doing.
I tried today a different approached .When I got the short signal on the USDCHF the possibility was that if I go short it could go against my short position, so I enter a short and long with a stop loss of 40 on both my orders .it went in my direction but if it did go north I was still in for a trade on my long position. I did the same on GBPUSD , unfortunately the trailing stop was to close to the market action and it took me out to early but still positive after I subtract the loss on the sell order.
I think of doing this on the longer time frames, just need to determine a wide enough band between the stop loss of the sell and buy order. Well the market has to go up or down from that point. I set the EA to move to breakeven on both the orders just before it hit the stop loss of the opposite order to prevent the possibility to end up with two losses.
FTC it is then.
Here is another arrow marker for you to try, I must have a half dozen in my indicators. This one is good one Im checking for repaint, which I think they all will do at least until the bar is close. but if we find one that dosent move after the bar is close then we can work from it a lot better.
I use 3, 6, 500 for the settings on hour or 4hr chartI agree droesparky... would be nice to have one of this indicators to leave the "disapeared arrow" ploted on a diferent color...instead of disapearing, re-plot it on a diferent color, that could be cool to make some historical backtest of the method... should we ask some charitable programmer here at tsd to help us ? cheers Walter.
Hello fx_geezer,
In its purest form you would exit the next time you see an arrow or the ZIGZAG line bounces.
i can give you some averages on the pairs I trade.
EUR/JPY 1 HR SL 30 TP 200
GBP/JPY 4 HR SL 60 TP 350
Your stop loss should always be behind the arrow, basicly behind the last established high/low.
Hope that helps.
Bear-Hi bear,
THanks for showing us your system. Just trying to wrap my head around your MM. On the first page you stated that you use a 60 SL for E/J on the 1 hour and a 100 SL on G/J for the 4 hr. Does it vary with each trade for you? Thanks for your efforts
Chris
I am now following this real time, we will see how we do... cheers Walter.
Ok, now I got redrawed to the next bar, notice we still dont have any swing low of any bar, where I would actually take a short.... cheers Walter.
Hey guys, if you enter a short with a stop 20pips from last high and are stopped out but next bar has another short entry + zigzag line so meets entry criteria would you open another short ? Thanks, Lee
usd/jpy,eur/jpy,gbp/jpy H1 all having short signals, but were stop loss. The more decent signals todays is gbp/usd, which h1 and h4 both generate buying signal when pound fell below 2.02 and now is 2.0369, easily 200 pips. Maybe i will stick to enter when both h1 and h4 are having same signal.
8,3,3 Stoch confirmation....
Hi everyone,
Just something to note. I placed an 8,3,3 stochastic oscillator at the bottom and it can predict/confirm the arrow set up. I.e. if the stochs show the market is oversold, watch for the buy arrow to appear (or it will confirm the arrow), or if the stochs show the market overbought, then look for the sell arrow to appear (or be confirmed). The only setttings that you want to change before you place them on the chart are the following:
%K=8
%D=3
Slowing=3
All others should remain the same. Hope this helps. I know the tendency in these threads is that the longer they go, usually the more complicated they get....I may have just complicated this...so take it with a grain of salt.
Pip Meister
Okay Walter, have you pulled the trigger yet!!!