Well said Sharemaster, thanks for the input. I’ll have to check the higher TFs and maybe iron out this system a bit more. Do you find it helps at all?
Kaboemm, I’ll take a look at the January 3rd trade for you and maybe get some screen shots. It’s possible I was in a daze when I was back testing. Crunching all these numbers sometimes does funny things with my eyes.
It’s also possible this could result due to broker differences. I use FXOpen. They are GMT +2 i believe. So the new daily candles form at 5:00pm EST and not at 12:00am EST as does Oanda. 7 hour difference can be huge. I don’t know who you’re dealing with but it might be different.
As for the EA, no you can’t shut your computer down while you have it running unless you use a VPS (Virtual Private Server) to host your EA. You can only have 1 target/sl move per EA. How I deal with this is using two or more charts, attaching the EA to each one, and adjust the settings accordingly.
It can be a pain when you have 4 or more charts of the same currency pair dealing with two seperate trades (if the TP or SL hasn’t been hit from the previous day(s))
I was hoping someone could come along and offer a solution, an EA that you can set two, or three or more targets and moves.
If you could do that, then wooohoo! 
Thanks!
EDIT:
You’re right Kaboemm. For the Jan 3rd trade, it should be a ‘fib too short’ trade and avoided. What I did was draw fibs to the bottom of the body. It’s possible to trade that way if the fibs are too short, but you’ll find you get stopped out quite a bit.
Here’s screen shots of both scenarios.
I’m using the original rules from Post #44 with the 110.0 Fib entry level.
To the top or the bottom of the 2nd previous candle’s body ?
OK I figured out!!
gs8888, chances of getting stopped is what we’re looking for. We’re trying to maximize profits. I know the R/R is uneven, and that’s usually a big nono for forex trading. But that’s why we move the SL to breakeven once price reaches the `131.8 level.
In 4 months trading AUDUSD for example, I had 2 fails.
Those two fails however, had huge gains right after which more than made up for the losses.
41 trades in 4 months, with 2 fails. So the fail kills 3 to 4 trades. Another 14 trades hit the breakeven point.
That leaves a total of 19 profitable trades. Not a lot. Not even close to live off unless you have a billion account balance and trading 10 lots. But still, profitable is profitable. This is just ONE of the systems I use. It has a proven track record on demo and live.
Posting up the strategy for all to see helps develop it and I’m hoping we can come up with a more even or better risk to reward ratio. If you have any suggestions to improve, please share. Thanks!
This method was working perfectly in trending market and mini trends, but when it comes to consolidation it wasn’t working that well. So, i was try to figure out if we could make this method work even in such scenario’s. Have a look at the pic ( i’ve circled the consolidation period. Most of the pairs were in this kinda situation during april.
gs8888, thanks for the screen shot. When the market moves back and forth we rarely get any profits. Our best bet is to get stopped out at breakeven. If there’s an indicator out there that can help us out a bit, such as the suggested TDI maybe someone can go through the history and see how it plays out?
Windsorftw,
I just found your thread. WOW! To me it is simple and very effective. Right now for me back testing on a 4 hour chart works well. I have fxcm and the zz swing is available for the micro account. The set works just fine with my fxcm micro.
Thanks,
GJ
Windsorftw.
i was introduced to this thread by my friend sharemaster last week. have gone through all comments. Thanks for taking your time out to help out. i want to however ask you for something. is it possible for you to Daily paste screen shots of the market analysis for the next one week on AUDUSD at the beginning of each day? this will help me confirm finally that i am doing the right thing. i know it will demand some time from you but i will be so pleased if you can help me out on this. thanks
Hey wind,
Haha I know what you mean with the dizzy eyes xD
As for the broker, I use FXCM, who are GMT+1. So my new daily candles start to open at 2:00 Amsterdam time. If we manage to tune this system the perfect way, I might consider hire a VPS somewhere. But I’m always cautious when it comes to trading with real money on other systems where I don’t have full control on. Maybe then I buy a server and put in in the living room so I can sleep fine instead of the computer noise keeping me awake :'D
I see what you did on the 3rd of Jan. However for now, I just keep back-testing it in one way. After I’m done for the last 5 months, I’m gonna try to improve and tweak it. So work, work and work indeed ^^ But in the end it’s all gonna pay out i hope:54:.
About the Expert Advisor. I think I managed to fix 4 inputs. So you can set 4 different targets on 1 order number. Gonna test it out tonight.
Have a good day:cool:
Greg, which indi is this? I looked and couldn’t find. Thanks.
Merchantprince, if u are talking abt SwingZZ, it is available at Post #1.
No, I’m referring to the Marketscope indicator. I don’t trade with MT4.
Awesome system (wicked whicks)
I just got into it this week and so far I’m up 170 pips from this system alone.
Thanks for posting this up 
Merchantprince,
On FXCM you have to go to import. Then go to import more indicators. Then search for SWING_ZZ and ore Swiing ZigZag. Then save and load into you indicators. This is just for fxcm.
GJ
I have a question regarding the Whicked Wicks method:
Do you close the trade at the end of the trading day (irrespective of profit or loss) or do you let it carry over into the next day or week, letting it reach its logical conclusion (i.e., break even, take profit or stop loss at the specified Fib levels)?
Given the fact that this is a daily system, there’s a good chance the trade might trigger somewhere in the middle of the day and carry over into the next day.
So how do you let it move?
Hey guys n gals, sorry I haven’t been around to answer questions etc. I sort of let this baby slide again.
Anyhow, to get things back on track. I’m still trading it per the given rules, though I’m still looking for that magic tweak (aren’t we all?)
If you guys are still interested, I can post daily charts up to show how I’m doing the trades and post up the results as well.
NewNine,
To answer your question, I let the trades run their course. Once they’re placed, I don’t touch them. I allow the EA to do the work and adjust the SL levels as price moves. Sometimes the trades get closed the same day they’re placed, sometimes days, or even weeks later. That’s just the nature of the beast!
I’ve been playing around with ATR stops lately, will post my findings.
Cheers!
Thanks windsorftw! I look forward to seeing how this can be tweaked.
I had a EUR/USD trade running this past Friday on my demo account that closed the same day with a profit. However, I let GBP/USD run its course and is currently in a loss. I’ve been entering at the 110 fib level and looking to exit at 131.8
I’m new to this and my focus is on conservative gains.
What percentage or multiple of ATR do you use to place a stop loss? I trade the daily charts and I’ve noticed that 2X or 3X ATR makes the SL pretty wide and this can seem risky. So do you recommend going for a 1.5X ATR or a similar fractional factor, if that’s possible?
Also, do you still use the 23.6 fib level for stops, or have you replaced it with ATR-based stops?
Thanks.
Hi windsorftw,
Thank for sharing the system, i think this system will help the traders who having a full time job and unable to having market analysis everyday, will try this system for the coming week.
after finish all the post, this trade after break though for the previous day higher/lower price, right?