Follow The Bouncing Pip - page 126
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From your screenshot, it seems your exit indicator leaves more pips on the table than the QQE cross dxtrade has discovered. Notice on the short position QQE keeps you in the trade a little longer. On the long position, it gets you out at about the same time.
Just take the default settings. For exiting short position, wait for blue line to go up and through the channel line (see picture below). For exiting long position, wait for blue line to go down and through the channel line (see picture below). I pulled up a 1hr tf just to demonstrate both scenarios.
Opinion
everyone is intitled to their opinion.
Hi Forex11,
While Igor may not have the best tact (which I think has a lot to do with his non-native english), I have to agree with him. Most system traders agree that for results to have meaning, you should have over 100 trades. When I did backtesting with this system, I went back 4 years. This system (when using the EA) only made money in the last year. If you start the EA and use data from, say 1/1/2004 to 1/1/2006, it is not profitable.
Now, having said that, that doesn't mean the system isn't profitable, or that it could not have been manually traded for profit in those back years. My concern is that this system may have just started working - quite well, mind you - when you started trading it. When MrPip has provided us with this EA, I was SO excited to see that from 1/1/2007 to 9/1/2007, this system made a buttload of money. But then when I advanced the start date further back, the profits started to shrink. Having manually traded this system when I found this thread in August (demo account..
) - I couldn't believe how many pips I was getting.
BigBear provided some take profit points, which could also make this system profitable in those other years. I never tested it with take profit points.
I was wondering if you guys back tested this, and if you did, how far back you went? The other thing is - some systems just can't be mechanized. This system may work best when manually traded. There seem to be a few rules that are discretionary as far as exiting goes, and those can be difficult, if not impossible to code. I have yet to write a function called "humanIntuition" - although I could proabably make a fortune if I could.
Thanks,
burn0050
It looks like to me that on the 1h the zigzag + pointer + NLD + QQE make a good entry.
however the ZZ +P + QQE is enough to filter on the 4hr.
Eureka Moment...
I just found something pretty interesting...
I sat in on Igor's webinar this morning for his new (Z_o_R_R_o) system, which was awesome, but I was playing with the indicators tonight trying to make it work for the H1 tf, and found that setting the signal line indicator to method 1 looked like a great trade signal for H1... I added the zigzag-pointerV2.mq4 to see how it worked out and WOW!! It filtered out most false arrows. It looks great on the H4 also.
Trading just the signal line with the bar trend (Igor's Heiken), according to Igor's rules, keeps you in thru that long trend last month, filtering all the false arrows except 4, all profitable, the last being the reversal. Really would only need those 2 indicators. Compared to nonlagdots, this signal line on seems to be more consistent.
Just trying to contribute... newbie so please be nice...
I just found something pretty interesting...
Trading just the signal line with the bar trend (Igor's Heiken), according to Igor's rules, keeps you in thru that long trend last month, filtering all the false arrows except 4, all profitable, the last being the reversal. Really would only need those 2 indicators. Compared to nonlagdots, this signal line on seems to be more consistent.
Just trying to contribute... newbie so please be nice...So according to your 1st chart we would have exited our 1st short trade 4 times, 3 times with small profits (considering that we exited early enough to take them) and the 4th time for the real reversal. Right?
But then we didn't stay in the 1st short trade all the way down! Right?
Or am I missing something?
So according to your 1st chart we would have exited our 1st short trade 4 times, 3 times with small profits (considering that we exited early enough to take them) and the 4th time for the real reversal. Right?
But then we didn't stay in the 1st short trade all the way down! Right?
Or am I missing something?I would say you're right. I'm just going by Igor's original rules from his system. The last one before the reversal may've been a loss... maybe not. But I found something else using the QQE... It filters out the false signal line signals in the flat areas so we can truly trade floor to ceiling... or am I missing something?? I hope I am not...
Doesn't QQE repaint as do all MTF indicators?
I would say you're right. I'm just going by Igor's original rules from his system. The last one before the reversal may've been a loss... maybe not. But I found something else using the QQE... It filters out the false signal line signals in the flat areas so we can truly trade floor to ceiling... or am I missing something?? I hope I am not...
Thats why I use QQE
But anyway...the last down trend isn't a valid entry as there is no arrow!
Thats why I use QQE
After a green arrow is established I start looking for buys and after a red arrow is established I look for sells especially when the 4hr chart has established a arrow.
Thats why I use QQE
That's true, but would you have wanted to miss that trade just using the existing rules?? Bigbear's exit rules are:
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.
From his posts, Forex11 gets out at the first turn, then makes trades between the arrows. So the reversal after the first arrow seems to be the only actual trade for this system on H1/H4, then doesn't help get you back in until the next arrow (3 days later on Bigbear's original example, missing 2 big zigzag legs).
I'm new to this, but realize it's impossible to truly trade top to bottom. But it also seems that after the first trade, we need to basically turn to another system until the next arrow. I'm just trying to contribute and help actually trade it FTC without totally relying on the repainting arrows and thought this looked good.
QQE wasn't originally in the rules either, but it helps also!! Hope I'm not off base..??