Follow The Bouncing Pip - page 61
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Bear and 11,
I just want to clarify the entry. Do you open the position as soon as the signal appears and if we get a repaint you close it for a loss? Or after you get a signal you wait for the candle to close to enter? Which one?
Thanks!
8Hey 8toenails,
Depends on who you ask. I get in ASAP. Forex11 looks at candle formations. But I use a 4HR & he uses 1hr. If I use 1 hr I would do what he does.
Also I set my stops under/above the arrow (+/- 20-30 above/below the high/low) so when I get stoped out there is no arrow anymore. I wait till I see a new signal. I can lose 10 times & its only about 300 pips yet the average win is twice that.
Confused yet?
Bear-
May I suggest that somebody with programming knowledge look into what the arrow's relationship is with the zig zag. To just memorize this phenomenon defeats the purpose of learning the reason behind the method.
I'm just trying to be helpful. There is a reason for some stray arrows and arrows not touching the line. Let's find out why, ok?
DonHey Don,
I think you have the right idea. Im not very big on Tech stuff. I would like to know why as well. If someone could figure that out it would help us understand the method better & be able to squeeze out more.
Thank you Don for your input.
Bear-
Hi Steve,
I have the same. Are you using North Finance as your broker?
Cheers
BarryI'm trading this system live. Will keep results updated
Yes Basza i am using NF, so it must be something with them??
Very strange but as I speak I still think it was a good move, up +40 pips
Maybe I was just lucky and knowing my luck will retrace back up now and hit my SLI have the same and I use IBFX. I don't think this is a glitch. I just think it isn't a valid signal yet.
I think its a valid signal acording to the system, its just a loosing trade, It happens.
If the arrow (pointer) isn't touching the line though then it isn't a valid signal
Guys ..I think you should ask big bear about his broker or the platform that he basis his decision on and open a demo there..from my experience some times it makes all the different in the world..by the way congratulation big bear and forex11 on your method and i advice all of you ppl to master it first cuz this is a discretionary method so you have to practice until it becomes a second nature, still there will be a difference between the results at the end..just my 2 cents..wish you all good luck.
so the arrow need to actually touch the line like it is on gbp/jpy now?
I thought both just had to show up on the chart.
??Hey All,
Let me answer all your questions here.
1) Brokers.
Different brokers will produce different signals. Period. End of story. Forex11 uses NF, I use FBFX (6 PIP GBP/JPY
) so you will all get different signals or you may not get one when someone else does.
2) The Signal is valid as long as the arrow AND the NLZZ are on the same candle. I said earlier it may be a glicth and to be carefull. But if you check your settings & everything is right then you are ok. The only false signals are when only the arrow or only the NLZZ appear.
Good Luck,
Bear-
Hi all,
Just about 3am Saturday morning here and after my nutting off at Microsoft, I have managed to download Linux and installed MT4. Just in the process of downloading indi's and setting up charts for Monday start.
Hope everyone has a good weekend and have gained plenty of pips this week.
Cheers
BaszaHey Basza,
Those are kind words. Thank you very much on behalf of Forex11 & myself. Good Luck & we are here if you need us.
Bear-
Just want to say Thanks
BigBear and 11,
You guys have taught me more in this thread than I thought was possible. I even had a pretty good profit this week. Hopefully, you'll get that 'Vanquish' soon. See you guys next week.. Have a Safe and Happy Holiday..
bigbear you said you set stops below the arrow. I have made the arrow size 3 but for stop sake I take it you use the normal sized arrow?
on gbp/jpy the size of arrow can be a lot of pips.
Hey Basza,
Those are kind words. Thank you very much on behalf of Forex11 & myself. Good Luck & we are here if you need us.
Bear-Hello Bear, Forex11 and everyone else.
I have tired alot of different systems over my trading time, but they all seem to end up with the same problem. When new people start looking at the system they start to add new rules and new indi's which in turn makes it harder to follow and they get so confused to what the rules are they lose intrest in the system.
I hope that this will not happen here. In the start I added a few other indi's to my chart, but have now deleted most of them except for stoch.
This is a very easy system to follow and I like the 4hr candle due to the fact that I can enter a trade and then not worry about it for at least a day if it goes in my direction. Also only need to check chart once every 4 - 8 hrs to make sure it is still running in the right direction.
I do not think we need any more indi's unless someone can come up with one that can find the top / bottom of zigzag better. I doubt that this will happen.
Keep up the good work and the friendly remarks to give here.
Cheers
Basza
another question I have about that pointer is why does it stay where its at when its way out like that. When it touches the zigzag it will move to the next bar if the next bar is lower or higher. However it seems to stick to where its at when its way off like that.
Loss/Win = 10/1 but big profit
Hey 8toenails,
Depends on who you ask. I get in ASAP. Forex11 looks at candle formations. But I use a 4HR & he uses 1hr. If I use 1 hr I would do what he does.
Also I set my stops under/above the arrow (+/- 20-30 above/below the high/low) so when I get stoped out there is no arrow anymore. I wait till I see a new signal. I can lose 10 times & its only about 300 pips yet the average win is twice that.
Confused yet?
Bear-Hi Bear,
That a good info from you.
Your KISS system has, on the average, consecutive LOSS/WIN = 10/1.
Total_Profit_LOSS(10 losses) / Profit_WIN = 1/2.
But 1 Loss = 30 pips and 1 Win = 600 pips average.
So that total profit for one transaction (one arrow+NLZZ) is equal to 600 - (30x10) = 300 pips average.
I assume that profit is only from one pair, so it will be about three time if we trade GJ, EJ and UJ....Great !!!!
Good Bear
So its persistance that pays in this method?