Follow The Bouncing Pip - page 209
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Hello,
I have downloaded the indicators and template from the first post. The template only has the MFI indicator on it and not the rest, so I added them on the chart.
I am trading GBP/YEN and EUR/YEN. When I see an arrow and line touching together I enter with sl below the candle with arrow (if long), if its too close then i use 40 pips. My TP is 5 times the sl.
I have been losing money trading this system. I enter then get stopped out whilst I read posts here of success. Is everyone using the same method?
Is there something Iam missing or not doing correctly?
Thank youAdd some filters! And in strong trends, remember the arrow will move untill the trend will finaly turn. So use another indicator to complete the system.
Add some filters! And in strong trends, remember the arrow will move untill the trend will finaly turn. So use another indicator to complete the system.
which ones do you use? thanks.
MTfBouncingPip
REMOVED for more improvement of idea.
Anybody playing yen pair will be burnt today( trading during Asian and European time frame) trying to long on the bottom of the zig-zag. The bottom kept dropping and changed so many times today on all the yen pairs. SL will be triggered numerous occasions. Got to have a feel of the market, and don't try to trade against the trend. Just wait how the trend goes when the US market opens!
Actual Rules of the system
Did the rules of the system changed or it is equal to the rules in the first post?
roodstaart: did you improve the system adding any kind of filter or you trade the exact same system as everybody? You are getting amazing results... If you did improve the system, can you post what you are doing?
Thanks
Anybody playing yen pair will be burnt today( trading during Asian and European time frame) trying to long on the bottom of the zig-zag. The bottom kept dropping and changed so many times today on all the yen pairs. SL will be triggered numerous occasions. Got to have a feel of the market, and don't try to trade against the trend. Just wait how the trend goes when the US market opens!
change to H4. much less false signals. only one confirm signal on H4 on GJ, that was on jan 4. this is big trend, last year there was one month (june if not mistaken) with similar big trend. only 4 false signal on H4 with ftc.
Hello,
I have downloaded the indicators and template from the first post. The template only has the MFI indicator on it and not the rest, so I added them on the chart.
I am trading GBP/YEN and EUR/YEN. When I see an arrow and line touching together I enter with sl below the candle with arrow (if long), if its too close then i use 40 pips. My TP is 5 times the sl.
I have been losing money trading this system. I enter then get stopped out whilst I read posts here of success. Is everyone using the same method?
Is there something Iam missing or not doing correctly?
Thank youtry qqe. it is somewhere in this thread. change to H4, less false signals.
Anybody playing yen pair will be burnt today( trading during Asian and European time frame) trying to long on the bottom of the zig-zag. The bottom kept dropping and changed so many times today on all the yen pairs. SL will be triggered numerous occasions. Got to have a feel of the market, and don't try to trade against the trend. Just wait how the trend goes when the US market opens!
I hear you man. I had things to do today, but if I had traded from beginning of Asian till now, I would've had two losses on g/j for a total of 154 pips, spread included. BUT, I would be on that reversal move up currently +278 pips, so that is not what I call burnt. Plus I trade trade continuation, so no worries. But I know that could've, would've does not matter
So my point is that with a good trend filter you can trade reversals, yes it is hard and frustrating sometimes but that is just how it is....
I grabbed 55 o G U this am before going to work. Ill show the documentation tonight when I get back home. caught nice move in about 30 mins time.
incredible thread.. I just follow this method on GJ and get +197 pips. Great job BigBear and thank you to share this method