Follow (Z_o_R_R_o) system by FXiGoR - page 2
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Some people respect my point of vieuw (wich I thank you for) some people maybe think that I walk around on this forum only looking for trouble...
I can ashure you if my help is wanted I would always and gladely give help. But with the "follow the bouncing pip" topic it is not that easy.
I walk around forums now for many years and I saw many times that an author of a topic kept a topic alive only for the fame and glory and knowing that his system or method is completely worthless.
I'm absolutly not saying BB's topic is like that but even I offer my help he is the one that is "boss" in his topic and he made his point of vieuw clear.
Fact is, if I want to give some help it will need to break the rules as they are now, completely appart. In such a way that the author (in this case BB) will no longer feel it is his system.
So I offer my help but I will do it independently so I don't stand in BB's way or interfear with his intentions
The principle now of the bouncing pip system is that it tryes to catch extreem tops or bottoms.
There is a simple saying in trading (but ooh so true):... Never try to catch a falling knife.
Meaning that fishing after real tops and bottoms can realy hurt you. At some point you will actually catch the top or the bottom but before you did it can cost you dearly.
Why the name riding pip ?...
The bouncing pip is as I said concentrated on tracking down the extreem top or bottom.
The riding pip is concentrated on the pip (the move) that is already riding or hedding in some direction. It is in line again with what I truely believe and that is trading according the trend. Some of you that know the T_S_R method will see more look a likes with the T_S_R trading method (buying or selling on retracements within an existing trend) then with the bouncing pip method.
Or as the old saying (wich is also so true) : the trend is your friend.
Bellow you can see 2 charts on the GBP/JPY 1h.
I take this pair ( a sujestion of BB but not my favorite) but I do it to compare oranges with oranges.
The 1st chart is according the rules of the bouncing pip.
The 2nd is according the riding pip.
As you can see there is a serious difference between the 2 charts.
Even dow they both use zigzag indicators.
The bouncing pip chart is showing a bottom and a top ( wich can take severall attempts before you realy catch the real one).
And the direction of trading by the zigzag indicator. In between there is nothing or one can fill it up with information as you wish personnaly.
The riding pip chartis showing also the same highs and lows. But those are not realy the points that I would trade because as proofed before (one can encounter many false tops and bottoms before catching the good one).
The points that I should be traded are highlighted with elipses.
On the price I placed a heiken ashi bar so it smooths out the price and it shows much cleaner and clearer the turning points. If one has an entry short by a red dot I would only take before I see a doji star or a magenta bar. I would only take a long entry (after receiving a green dot when I see a gren bar apearing or a doji star.
The stochastic is a slow stochastic 10.6.3. only to give you a feeling that price is indeed against some nice clear turning or reversall point and to get a better timing on entry. But be carefull the more you wait for confirmation the later you gonna get in to your trade and the bigger your stoploss will be.
So one takes the trades according the blue zigzag line (or the trend). That line is repainting. But we enter only on a retracement shown by the elipses.
So you will see that most of the times when you enter on such a retracement that the blue line will be in the right direction and will stay in that direction.
But honesty forces me that when you use a zigzag indicator that you will always be faced with a repainting element.
I can only try within the bounderies of the re-painting to eliminate as much possible the re-painting element.
My personal opinion is that it has a lot of potential because one can place his stoploss bellow the bottom that you trade or just above the top that you trade.
This system is even a very good excercise for the more experienced traders who can add their discretionary vieuws on support and resistance levels.
Very intersting is that I placed this method on time frames between 1min and 4 hours and each of them gives a very nice potential (without changing any of the values).
Remember that it is useless or a waist of time to try to filter out the re-painting completely because once you do that you will fall in to the moving average country.Or into the breakout-methods- country. Meaning if one doesn't want the re-painting (wich I completely understand and underwrite) then I sujest to go to an normall indicator.
The dots on the chart DO NOT repaint.
Regards...good luck and glad I could be at your service in a productive way
iGoRHey iGoR,
If you read my post on the other thread you will see that its how you say things that pisses people off not what. You ideas are very welcome just as anyone else's opinion just not your bully remarks. Just look at what you post here. Im no boss of anything. Just cause I use that smiley. I like it.
Also you are blowing thing out of context. I dont care if people change the rules or add & take stuff away to help them feel more comfortable. I just dont want them to say the system dont work after they change it. Is that so bad? Forex11 & I put 3 hard years behind this. Its not for everyone. My intentions where to try & get an EA that works. My intentions are to make this system better.
As for the topic of the 49 straight losses you have understand that that is not going to be the case in the live market. All it takes is for the market to break the last high/low & the arrow moves. That dost mean that you will close your order for a loss & open a new one, you just let it ride until it goes your way or you get stopped out.
Yes I got mad. People have been telling me in PMs that you mean well but you just dont know how to talk to people but you are pretty smart. So Im sorry for blowing my temper but maybe you should be a little carefull on how you word things.
Anyway I will leave you to your thread. If you dont mind I will be in & out checking things out. If yours works I will trade it as well because I too believe that you need more than 1 strategy to trade the market.
Until We Bump Heads Again
,
Bear-
What indicator created those dots?
sorry sorry sorry...
Ok Guys sorry to have kept you waiting
In posting # 1 you can find the indicators and template.
On what I saw today and yesterday one can use this on every pair that suits you personnaly the best.
Even the time frames is up to your choise (but personnaly I prefer the 1H and 4H time frames)
I'm pretty shure that you gonna enjoy this setup.
And as I said in my first posting it is even a very good setup for those who work normally on charts with a more pure technical analasys (support and resistance).
Enjoy the ride and always at your service
...
iGoR
Feedback
You can give me all the feedback you want.
If you find it a shitty setup don't hesitate to react. If you want to have some improvements according your particular time frame or pair don't hesitate to ask.
I have already a few improvements with trailing stops etc....but I gonna wait to release them till I see some interest or reaction on were you think the setup fails or could be improved.
I am quite exited about this method because it is not pushed in a very tight jacket.
It has a lot of possibilitys. One can use it as it is or as fundation for other methods or indicators that you like.
About the results or profits: When I go over each pair and different time frames I noticed that one can make very nice money with this method (in the non-re-painting zones)
But again it will highly depend on your personal skills.
To be continued...iGoR
Thank you for posting the indis and template, Igor. In this setup picture, I see the entry would be on the magenta bar. But how do you know that will not be a turning point and a new zig zag formed like the dashed line I entered?
Thank you for posting the indis and template, Igor. In this setup picture, I see the entry would be on the magenta bar. But how do you know that will not be a turning point and a new zig zag formed like the dashed line I entered?
Hi Robp,
Of course that can happen. But that is for every indicator or setup or entry signal.
Every possible indicator out there can show you a long or a short entry.
The moment you enter and price would emmidiatly starts to turn against you it will change the direction or it wil lead to a loss.
Remember this is not a setup that will produce only winning trades ;-)
The place were you show the entry is a very nice entry. The reason: it is in line with the trend at that moment (again trend can change the moment you enter but that is for every trade that one takes with every system) the bar color changed the stochastic lined up and one can nicely see with the naked eye it is a retracement in within a trend.
Also nice is that the stoploss on this trade ( an most of them) is easely to place above the top that occured on that moment.
iGoR
Thanks, Igor. After I posted, I realized my dashed line is just the normal risk of any trade. I'm not real familiar with these zig zag lines and I'm really not quite sure what the difference is between the blue, red, and yellow ones in your template.
And I guess my other question is, will that blue downtend line be visible at the time of the trade, or does that entire line only show up and some later time?
Hi Robp,
Of course that can happen. But that is for every indicator or setup or entry signal.
Every possible indicator out there can show you a long or a short entry.
The moment you enter and price emmidiatly starts to turn against you it will change the direction or it wil lead to a loss.
Remember this is not a setup that will produce only winning trades ;-)
The place were you show the entry is a very nice entry. The reason: it is in line with the trend at that moment (again trend can change the moment you enter but that is for every trade that one takes with every system) the bar color changed the stochastic lined up and one can nicely see with the naked eye it is a retracement in within a trend.
Also nice is that the stoploss on this trade ( an most of them) is easely to place above the top that occured on that moment.
iGoRThanks, Igor. After I posted, I realized my dashed line is just the normal risk of any trade. I'm not real familiar with these zig zag lines and I'm really not quite sure what the difference is between the blue, red, and yellow ones in your template.
The reason the 3 different zigzag (blue red and yellow) is that trend is sometimes difficult to discribe. Were the trend can be down on a bigger time frame it can be up on a small time frame.
The blue and yellow are actually what a 1 and 5 min would show you.
Meaning that if you would place you chart on a 1min time frame the yellow is gonna show you what the blue line would show you on a 5min time frame.
Hopefully this makes some sence.
If the red line jumps against the direction of the 2 other lines, it will give you notice that the retracement is already quite big or that this could maybe the beginning of a trend reversall were the other 2 lines could follow.
In every system the closer you can get in to the turnign point of some trend the nicer the profit and the smaller the stoploss and the quicker you wil see you trade move into profit.
iGoR
2 beautifull setups on the euro 5 min chart today. No re-painting at that moment possible.
iGoR
2 beautifull entrys on the cable.
The one I marked with a red circle was not an entry on that moment because in REAL time the blue line was not in the same direction of that trade. So it would not have given you that entry.
The 2 other entrys were valid because they occured in a non-repainting zone.
iGoR