Follow The Bouncing Pip - page 77
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MrPip,
The EA i used in my earlier post was using the original rules. Entry was done exactly when the arrow appears and touches the nonlag, not waiting for candle close. The other versions posted were done using some suggestions guys from the forum sent to me. Enter after candle close, use HA, and other things... So the picture is with original rules.
Anyway I think that the thing with spliting the amount in 2, botho open when normal signal and one close at oposite signal and the other trail won't work very well because for example:
They start at the same time. One close first at oposite signal, one trails moving the stop on retracements.
While second runing the first starts and closes from arrow to arrow/stop. When will the second start? What if starts in a not good moment? Please clarify how you intend to solve the "synchronization" of the 2 different transactions.
Thanks, Victor
Not sure...
That's assuming you would have waited for the opposite arrow to get out. If you were trading this system on a live account, would you have?
Good point pipsweak. I really don't know what I would do. Even though I joined the forum last year sometime, I haven't had time to get involved so I'm just now learning about trading. What's you're advice?
BTW, are these the same indicators that Mr. Pip posted in post # 721? Thanks.
I used MR. Pip's zigzag-pointerv2 from post #721, and the NonLagZigZag_v2 from early in the thread.
marko
marko ,
What EA have u used there to obtain that graph?
Thanks, Victor
Bigbear mentioned that he doesn't wait for the close of the candle to enter, but don't you have to wait for the close? If you enter just after the arrow appears and the line connects, you are going to get stopped out when price moves above/below the arrow. You can get stopped out 20 times on the same candle. Or do you wait to set your stoploss after the close of the candle?
Hi all,
This is my first post ever, so bear with me (no pun intended). I hope I'm figuring this right, but even with the false entries, you would gain almost 1300pips from the GBP/JPY chart Brunite posted.
I idealized this a bit by using only the highs and lows for the bars with arrows, but if a stoploss was set at 30pips below the low of each entry, you'd enter on 11 false signals, and still come out way ahead. This is supposing you enter on the next signal after the bar that the stop was hit on (see attached screenshot).
Many thanks to Bigbear and Forex11 for sharing this system, and to all of you gurus who are helping.Another thing to mention is that your losses would have been more than 330 pips. Saying you would have lost 30 pips on each one of those trades is misleading, because you would have not gotten in at the low of those candles, but rather at the close. You need to take that into consideration. I didn't take the time to look, but I believe the losses would have been closer to 500+ pips.
Then there are execution errors...also ask youself can you be glued to the screen? and do you have the stamina to continue flawlessly?...do you have the mentality to endure? Do you like to trade this way?
ES
Another thing to mention is that your losses would have been more than 330 pips. Saying you would have lost 30 pips on each one of those trades is misleading, because you would have not gotten in at the low of those candles, but rather at the close. You need to take that into consideration. I didn't take the time to look, but I believe the losses would have been closer to 500+ pips.
Then there are execution errors...also ask youself can you be glued to the screen? and do you have the stamina to continue flawlessly?...do you have the mentality to endure? Do you like to trade this way? ES
I don't believe it would require anyone to be glued to the screen. If one were trading the 1 hour time frame, they would simply need to check the charts every hour.
But I think a lot more testing needs to be done to analyze drawdown. From what I see now, I would not trade more than 2-3 mini lots per $10k account with this system. I need to look back a few years and fine out what the biggest drawdown period would have been.
Also, another thing to add to my last post. The long trade on August 17th, that would have resulted in 1036 pips, would have actually resulted in 760 pips. Again, you need to look at the close of the candle and not the low. That candle closed at 222.08. That 760 minus the 500 pips in losses would have results in about 260 pips profit over this time period. A big difference than the 706 pips in profit you believed you had.
In my earlier years I had a system that I had to check each half hour...considering the hours the FX market trades, this can be a daunting resposibility (try trading this at the London open and check every hour between sleep if you are living in the USA...it turns your life upside down)...(hehe try going to the bank in between...lol...you learn to drive real fast
)
ahhh..and some of you say...Electric...as long as your making all this money you can work it out....well try it then...you will see...(not you Pipsweak)
ES
I don't believe it would require anyone to be glued to the screen. If one were trading the 1 hour time frame, they would simply need to check the charts every hour.
But I think a lot more testing needs to be done to analyze drawdown. From what I see now, I would not trade more than 2-3 mini lots per $10k account with this system. I need to look back a few years and fine out what the biggest drawdown period would have been.
Also, another thing to add to my last post. The long trade on August 17th, that would have resulted in 1036 pips, would have actually resulted in 760 pips. Again, you need to look at the close of the candle and not the low. That candle closed at 222.08. That 760 minus the 500 pips in losses would have results in about 260 pips profit over this time period. A big difference than the 706 pips in profit you believed you had.the system generated many false signals on both GBPJPY & EURJPY on H1 time frame. The line and arrow both showed up 4-5 times dropping from low to lower on closed bars. Does this is have any thing to do with the US news?
BK