Kasravi,
Please refer to mine and Yohec’s previous posts.
Best
Ron,
I believe you misunderstood my comments. I don’t consider this method “flawed”. I merely pointed out that I was not comfortable trading the 1 Hr charts until I do more backtesting. I just need to do my due diligence.
In the meantime, I continue trading the 4 Hr charts which have given me very good results.
Hector
The setups on GBPCHF and CAD/JPY I posted yesterday are now invalid.
Roni,
This is a very good article by Nial Fuller, “A 7 Step Cure for a Trading Losing Streak”. From your recent posts, I think the article will be of benefit to you.
This is not an advert for Nial’s system or courses.
Hector
Nothing so far, Entered a Z on the 4hr chart USDJPY it stopped me out. Still scoping.
Yes Yohec, Thats the one.
I recommend you put a buffer of a few pips for your entries. In my case, I use a 5 pip buffer. For example, this pattern completed at 119.76. I would place my short entry at 119.71, so my entry would not have triggered.
You will notice on every chart I post that the entry price I show is 5 pips beyond the completion of the pattern.
Orders placed to go Long on EUR/JPY 6HR. 1:1 R:R of 53pips.
I don’t get the same pattern on my chart. My 6 hour charts go from 00:00 --> 06:00 --> 12:00 --> 18:00 --> 24:00. US CST
Good luck
Hi there Miad,
Thank You so much for spending so much time and resources sharing this great setup.
I have been spending the past three weeks extensively reading this thread and your website; learning how to identify the various ZP types and the mechanics of where to enter and exit.
Naturally, prior to actually trading any model, I, of course backtest it.
I am planning on backtesting (manually) the EUR/USD on the 4 hour chart, for approximately 100 trades.
For my backtesting design, I was wondering if you could answer a few questions:
[ol]
[li]Approximately, how many trades should the ZP produce (on the EUR/USD 4hour chart)?
[/li][li] What would you expect maximum drawdown to be?
[/li][/ol]
Thank You,
Pitbull.
EUR/JPY 6HR Trade stopped out.
Hi Pitbull,
Thanks mate.
I’d say somewhere btw. 2-3 trades a month only on that timeframe and pair. That is an overall, you find month with no sig. at all or month with 8 sig. so it is really market dependent.
Personally I never suffered more than 2 trades drawdown ( the reason I’m quantifying d.d. in number of trades is so you can calculate that in your risk assesment).
Before you go for a full B.Test consider these two articles below. For two reasons; 1.It will lead to much more better and realistic results. 2.It’s more likely forward testing and backtesting will have simmilar results.
Best