Follow The Bouncing Pip - page 28
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
hey bigbear in the above post you said enter when the line and pointer appear. You do mean on the close of that candle right?
Hey droesparky,
No I dont, I mean when the POINTER & LINE touch. AT that moment. Thats how I do it if I can. Otherwise I try to get in on that candle.
Like I said, I trade my way you trade yours. Use this as a base & you can make it your own.
Good Luck All,
Bear-
Bear.....
I have been reading your thread since I know that the zigzag indicator can look really good but is extremely limited as far as an indicator goes. The zigzag indicator is helpful to aid in the visualization of Elliott wave patterns and potential turning point in the market.
I have taken the privilege in discussing the potential for an EA using the zigzag indicator with my programmer. He claims it does not work or shall I say is not profitable. However I do have some ideas for this indicator and how it can fit into the design of an EA. Let me offer this to you guys on this thread I'm going to keep an open mind because I see potential in this indicator since it predicts a potential high and low, or in other words extreme points similar to any overbought or oversold indicator and could very well be useful in swing trading.
As you guys mentioned earlier, the key to this indicator is realizing that it will repaint often and will need thorough analysis of what it takes using money management to make sure that you set realistic profit targets that outweigh the multiple small losses.
May I offer you a couple of recommendations:
1. You add a conventional trailing stop that works Pip for Pip.
2. Enter the trade based on confirmation looking at the previous candle's high exceeded by x-number of pips. For short confirmation entries look at the previous candle's low exceeded by x-number of pips.
Good luck!
DonDoes your programmer think the EA is not profitable or the system itself?
Bear-
Hi everyone, I have a simple filter which is based on fundamental truths and might help filter false trades without complicating the system. The idea is this:
Only take long positions when the green arrow is above (higher than) the last green arrow
Only sell when the red arrow is below (lower than) the last red arrow
What do you think bigbear ?
Keep up the great exchange of ideas :-)
Ok bigbear Im with you then I have gone back to 4hr chart with ZZpointer and NLZZ. g/y and e/y for pairs,
I just misunderstood somewhere along the line.
leeb I think thats a ok idea, but price dosnt always have to make a lower low before it starts a new trend. Or it just stays in consolidation mode. So youll miss some that way, but it could be a little safer.
My guess is even forex11 and bigbear have a few loosers thats part of the business.
Hi Droesparky, yep absoutely there will always be losing trades the key is Money Management like bigbear said and keeping winners larger :-) good trading to you my friend...
A friend of mine pointed me to this thread as he noted that Bear's style is a bit similar to mine. I too look for tops and bottoms, but by confirming my trades with HA candles and 50,3,3 stochastics, turning from ovebought/sold levels (25 and 75). My experience is shorter than Bear's, so I can't give any forward test data. I wait for candle close to enter (day job...). Out of curiosity, I've put Bear's zigzags on my daily charts. Will be interesting to see the trade probability and the risk reward ratio.
good luck all
ps. Bear, chill, my dad always told me that it doesn't pay to waste ones nerves on other people's problems (with themselves)
FX Flyboy
would you mind sharing your template and timeframe?
daily tf, though the idea works on all tfs, with hourly and daily being my favourites.
Take a look here: flyingmoney
Please, bear in mind, that I'm not a profitable trader.
A friend of mine pointed me to this thread as he noted that Bear's style is a bit similar to mine. I too look for tops and bottoms, but by confirming my trades with HA candles and 50,3,3 stochastics, turning from ovebought/sold levels (25 and 75). My experience is shorter than Bear's, so I can't give any forward test data. I wait for candle close to enter (day job...). Out of curiosity, I've put Bear's zigzags on my daily charts. Will be interesting to see the trade probability and the risk reward ratio.
good luck all
ps. Bear, chill, my dad always told me that it doesn't pay to waste ones nerves on other people's problems (with themselves)Hey FX Flyboy,
Your dad is wise. My mom always said that to me as well. She says, " People always wanna prove each wrong instead of helping each other be right"
Plus I have a bad attitude towards people who talk about things they never tried or no nothing about or are misinformed about. You know who Im talking about. Me 2 people. Like the ones who vote on polls & dont post why something is bad.
Even though I am abrasive & short tempered, I am a fair man. Those people who say it wont work or voice their opinion about it in a negative matter are at least standing up for something & I give them respect for that (even though they are wrong
) & thats fine. Its a somewhat free world. But just know what the hell you are talking about before you shoot down everything.
I dont know jack about EA programing. I dont even know all that much about Tech trading & most of what people say is (insert foreign language of your choice here) to me. All I know is how to trade my style with the effectiveness that gets me paid. Im still learning. I never claim to know more than I do. People who do that are weak. They feel they need to walk around all puffed out.
I enjoy deflating them
Thank you though & good luck with all you do.
Bear-
Hi everyone, I have a simple filter which is based on fundamental truths and might help filter false trades without complicating the system. The idea is this:
Only take long positions when the green arrow is above (higher than) the last green arrow
Only sell when the red arrow is below (lower than) the last red arrow
What do you think bigbear ?
Keep up the great exchange of ideas :-)Ok bigbear Im with you then I have gone back to 4hr chart with ZZpointer and NLZZ. g/y and e/y for pairs,
I just misunderstood somewhere along the line.
leeb I think thats a ok idea, but price dosnt always have to make a lower low before it starts a new trend. Or it just stays in consolidation mode. So youll miss some that way, but it could be a little safer.
My guess is even forex11 and bigbear have a few loosers thats part of the business.Hey leeb,
I agree with droesparky. Losing trades are just CODB. I have been trading my original style, the very first post, without changing a thing & have been very successful with the results.
I dont know if people are trading the right way or not. THE ONLY TIME YOU GET IN IS WHEN THE ARROW & THE ZIGZAG LINE TOUCH. I dont know how the EAs or back tests are giving so many signals because I never see all that. Plus you must understand that the lower the TF the more False/Bad/Wrong signals you will get.
Anyways I hope we are able to make an EA that works with the options I have stated above.
I will be testing the EAs that I have from those who have assisted me this week.
Thank you all for your hard work. Just remember to K.I.S.S.
Bear-