Got it! Thanks once again!
hey pipsters,
well sorry to say no trades today, there were setups but SL like 15 - 20 pips away and since my TP is only 5pips no trading and also majors news today the NFP IS DUE IN A BIT, that and i fell down yesterday leg is hurting like hell couldn’t seem to concentrate on trading either oh well
MONDAY IS RIGHT THERE
so week in review
Monday - 50pips
Tuesday - 25pips
Wednesday-30pips
Thursday - 93pips
total of - 198pips
so weekly gross profit in $$$$ = $1141
Thank you Nidolap
i could not have said it better
Nice. I think you can take a day off with wins all week 
hope your feeling better.
Hey guys,
backtests from the month October: AUD/USD - GBP/USD - I didn’t took trades with SL of 11 and higher.
Only EUR/JPY and GBP/JPY left for the month October.
Anyone knows how to make an alarm in metatrades that goes of when a new SAR dot is formed (pref after a ZZ zwing)?
What these peeps posted are valid concerns.
This is a good thread in general. Keep on working up what you want to do.
As a note, I would like to propose the following :
1-Apply some form of statistical analysis via timing and standard deviations (see how Ray Barros does it). That, will really take ZZ trading to the next level.
2-The default ZZ tool is good in general, but IMO it suffers the problem of ‘complicated’ formula. If you don’t know the formula, it might be hard to trust it. Of course the inverse can be true; e.g. one doesn’t need to know how a tool works in order to use it. But IMO, overtime as one uses the tool, questions (good and bad) of how the tool really works may arise. This is true, for trading, especially if one starts to get losses rather than gains.
3-BB and PSAR acting as additional confirmation is really saving the show here, due to these indicators have some minor statistical analysis prebuild into their indicator formulas.
I am at least speaking in perspective of how I trade, because I had researched and use many ZZ tools for the past 4 years.
I also posted some related comments in another thread here.
harrilalchadd
can you please tell me the settings u are using on your indicators SWING ZZ (for example is it 2 or 3 etc… ) and SAR setting ?
i mean settings of indicator after adding it to the chart
can u also please tell me the exit of your trade or TP , is it at next Swing_zz dot or 5 pips profit etc
harrilalchadd - looking at your charts - what made you decide not to take the two trades in the 4th chart? What’s your criteria?
Thanks, Clive.
well, lets explain the “logical” arguments:
take a look at traders at babypips, who has over 10 years trading experience, like ICT, they are doing 30-40% monthly returns, now look at harrilalchadd, a guy who a pair of month was posting he was a new trader asking for some help, now is reaching the 70% weekly returns, using an indicators ONLY based strategy with a risk reward of 2:1 or higher, trading the 5 min chart, with over 50 trades/week and with out having a single losing day.
so, at the beggining of this new year, he will be reaching the million, starting with 1600$, something that took between 15 and 30 years to the majority of traders who has reached it, and starting with a bigger accounts… Just to understand the importance of his results, if he continue like now he will become the richest man in this world, in just 7 month!
Now the real arguments of my suspicions:
the 1st results he posted where using the old system, i dont need to say he was truly profitable using it:
I think he didnt know that zz repaints… everybody who has been trading with zz for a time should know that taking ONLY this trades is just IMPOSSIBLE, as the zz repaints, however he was taking alway the top… I think that relativity, who has been using it for a long time can confirm this point. Maybe harrilalchadd had a magic trick to catch always the top and never the repaint…
on this new version there is not big repainting issues, but he has lied once posting results that can’t be true, why should be now telling the truth?
when other people are not having the same “amazing” results, trading the same strategy, he said that the reason was he he has a nice spread which let him stay always profitable, speaking about a 0,1-1 pips spread, and calculating his earning without taking care of his comission…Interesting how anyone can count his 16 trades, calculate the profit and the loses and post the results, instead of just looking at his balance, isn’t it?
You ask about the comission he pays and he still doesnt understand how it works:
im sorry, but the experience have nothing to do against maths, i can say: one time i put 5$ into a soda machine, to buy a 2$ cocacola, and it returned me 4$, so im actually in a position to say that 5-2=4 because of my experience.
Maths says that 0,753$ comission+0,7 spread means each time you enter a 0,1 lots trade you are paying 1,453$ wich is the same that entering a trade with 1,453 pips spread. in the 2nd case you are paying comission which are included on the spread. Your earnings doesnt change for calling these fees comissions or spreads.
Is that really strange i asked for a myfxbook link to prove that his claims are real?
and his answer was:
I think people who claim for incredible results and dont wanna prove (because most of them can’t) that what they say is the truth, without any reason, are most likely to lie. However i can be wrong and he can be archieving these results, however that would mean he is overtrading as he is taking like 16 trades/day + the trades from other 2 strategies, risking 2 to get 1, he will find a day when he will lose it all. He is promoting this type of trading, so this day all the guys who would have followed your trading style will lose their money too.
sorry, but here you have a post you wrote the past week, and i think that here you was looking at something more than only setups:
about the setups, you have checked that he marked setups when the rules has not been met. Everybody can take a past chart and mark the winner setups and say: 12 wins, 2 loses, 1147$ this week!
people posting this dont help babypips at all, as they create wrong expectatives to new traders, making them overtrading, taking too much risk, in conclusion being losers for a longer time…
I think trading is not as easy as starting with a new strategy on real account, with less than 3 month forex trading experience, without even backtesting or trying the strategy on demo account, and become millionaire in 2 months.
This only provides a loser mentality.
in the other hand, if you post unbelievable results, you should prove it, otherwise is normal that people think you are a liar. New traders would like to think it is posible and never doubt about the reliability of your results… Everybody likes to think that becoming millonaire in few months without effort is posible in forex, most times is this hope which doesnt let us use the common sense. The common sense tells you that if 90% retail traders lose in forex, it can’t be that easy, not only to stay profitable, but become a millonaire in 2 or 3 months with 1000$ account. No, im sorry if I have disapointed somebody, but this world doesnt work that way.
I’m not saying that this system can’t work, i think that it can bring good results, specially with a higher tp. But harrilalchadd is “selling” it like a holygrail, which does not exist, manipulate results doesnt help this thread; This doesnt help to improve the strategy at all, and move new trades to follow a kamikaze trading style instead of let him look for improvements or to adapt the strategy to their own trading personality which is (in my opinion) what can turn a simple strategy profitable.
I know most of you do not wanna believe me, and will also hate me to be trying to wake you up from the “earn fast easy money without effort dream”, but, as time goes by, you will understand how much truths were in this post…
You have your own responsibility about what you post, because it can influence a lot of people, and their money.
My apologies for this large post.
Have a great weekend.
hey
my settings are all default it works for me and you know the saying if something works leave it alone
my take profit is always 5pips, my SL is never more than 10pips helps the account remain profitable even if losses arise
hey paw3000
what ever man you are entitled to your opinion,
i post my setups so it may help ppl like blizard help me for ppl to try at there risk i"m not a financial adviser nor am i holding a gun to your head and telling trade this strategy.
This picking cherry’s and apples strategy works for me and i’m sticking with it
when i speak of experience i was talking about with the brokerage accounts the difference between spreads, and if you think this simple strategy is to simple to make money, no one is stopping you for leaving this forum
AS for ICT and others they are great and well experience traders i can image the returns of 30% - 40% on $100,000.00 accounts per month
as for my setups i have nothing to gain By posting them here on this forum i don’t get paid or compensated in anyway for my posts.
[B]AND THIS PPL IS WHERE I HAVE LOST MY TEMPER WITH PAW3000
I WAKE FROM 2AM TO 8AM EVERY TRADING DAY TO TRADE THIS STRATEGY I POST SETUPS AND YOU CAN SEE BY THOSE SETUPS I BARELY HIT TP HENCE MY LOW 5TP I DON’T RIDE TRENDS GOD KNOWS I WANT MORE MONEY I SIT BEHIND MY PC FOR 6HRS WAITING FOR SETUPS
SO MR PAW3000 DON’T IN NO WAY INSULT ME AND TELL ME I’M MAKING MONEY WITHOUT EFFORT I WANT MONEY I SIT BEHIND MY PC FOR 6HRS WAITING FOR SETUPS
LIKE TODAY I SAT FOR MY 6HRS NO TRADES THAT MEETS MY CRITERIA NO PROFIT TODAY
YOU DON’T KNOW ME SO PLZ STOP BASHING ON ME FOR MY SUCCESS,
EVERYBODY TRADES DIFFERENTLY YOU WANT HELP ASK FOR IT BUT DON’T INSULT ME[/B]
I WONDER WHAT WOULD HAVE BEEN YOUR COMMENTS IF I NEVER POSTED MY MONETARY GAINS
GOOD DAY TO YOU MR PAW3000
HEY CLIVE
hope you know the entry criteria
i didn’t take the trades because the SL would have been to far to risk a lost
i do not enter a trade with SL more than 10pips because me TP is 5pips it wouldn’t make sense
if need to know the entry criteria plz feel free ask for it [B]i am willing to help anyone who needs it[/B]
hey pipsters
i was thinking of following in the footsteps of blizard and holding a webinar so you guys can see me trade live what you guys think
Heya i don’t want to wade into this as to be honest i have not done well trading this strategy manually, but if your up for it would so go for it then everyone can see you trade for real, ask their questions and then all this current questioning will be over and done with and i think everyone will agree everyone will have their answers.
Im not poking at anyone, just think its a great way to solve this little problem that has come up and let us get back to trading
I would suggest if possible to do the webinar when most people can attend and try to get Paw along and the other guys so they can ask their questions as your trading and you can explain and show them exactly what your doing, it would resolve this nicely.
[B]Harrilalchadd - [/B] Well said mate, ignore the haters! I appreciate your charts and your summaries everyday
Just to add my opinion, I dont trade this strategy 6 hours every day like harrilalchadd because of time constraints, but when I have sat down to trade 5-6 hours at a time, I have achieved similar results to him with this strategy.
Don’t let Paw’s pessimism get the better of anyone in this thread. That being said you need the discipline for this system, not everyone is going to be profitable with it.
I also have a pepperstone account with commission harril and It is quite handy with the 5 pip TP, I just don’t think Paw gets your concept of the spread vs commission being a factor with such a small TP system. Oh well.
hey no worries sandy
i would be happy to hold it for those willing to learn it i mean i’m not blizard but i am successful at it so i’m willing to show my trading entries on this strategy
Chill man chill. You may not believe it that I am on your side on this, although, IMO you might want to be a lot more gentleman with your language =>
Any fool can win in a certain market. There are at least 4 types of market movement.
Trending Up
Trending Down
Sideways Flat
Sideways Transitional
Its only when the market starts to change to another type, then the strategy will blow apart and the losses will come. This is true if traders do not see it coming. If they do, they will hold back and not trade at all until the market resumes back to the type they are comfortable with + works with the system very well.
The strategy posted here is good for Sideways Flat or Sideways Transitional type of markets. If a real Trending Up orTrending Down strong market comes, everything gets blow apart. If you are able to see that coming and STOP trading this system + switch to a system that is more suitable for trends, good for you!
I will post something up regarding this soon. A basic primer on how to really read and use ZZs correctly.
There isn’t a need for anyone to prove anything really. Is showing results of earnings the only way? I say no? Why? See below.
I hope you can consider the following :
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors.[B] Past performance cannot be an indication of possible future results.[/B] The information presented is intended to be for your educational purposes only. The accuracy and completeness of the information is not guaranteed.[B] Any decision purchase or sell as a result of opinions expressed will be your own full responsibility[/B].
You do have your own responsibility too. Please consider it.
I do hope you will better self reflect, as what is really more important is not another person’s account statement, but your own trading. Do keep up with learning as much as possible and avoid being distracted by such ‘sagas’. If people want to lie about their results, so be it. You can always move on and ignore them, and be your own winner.
Even the best traders in the world can’t be bothered to prove to others their results. They just ‘take the money and go’, leaving history as history in the dust. Its over. Done deal. Next.
You are only as good as your last trade.
The market is always right. The system or trader can turn out to be wrong (some day) It works until it doesn’t work. Then get over it. Move on!
Think about it =>
but harrilalchadd
can you please tell me the default settings that u use on swing zz and parabolic SAR indicator in your metatrader
I am little confused about the setting on swingg zz and parabolic SAR . on my metatrader when i set up the swing zz indicator it has 2 for minbars , and for parabolic SAR it is 0.02 to 0.2 ( is your setting same as this ) and thanks for your reply
thank you Mitchell
you are right not everyone will be successful with this system, also not everyone has 6hrs to trade.
and for anyone who wants to know the pairs i trade
EUR/USD
GBP/USD
AUD/USD
EUR/JPY
GBP/JPY
AND THIS WEEKEND I WILL MANUALLY BACKTEST THE EUR/GBP