Picking Cherries & Apples

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

THANK YOU Relativity

thats what i have been trying to say this system is working because of the market conditions of price movement it will not always work thats why i trade other strategys

ok

PSAR is 0.02 - 0.2, BBANDS is 20 - 2 apply to close, zz is 2

The reason why I decided to check this thread is because this system is almost similar to part of my system + this one here

Don’t stop working on your trading. This is a good system IMO, just that you will need to pay more attention to when or when not to switch.

Or even better, find a way to read all market types using this system alone. I’ve done it before with reasonable success. Not easy to get there, as one will have to start creating / modifying tools correctly (the next level).

i will certainly have a look at this maybe i may find a better way to take moe tp in picking cherries and apples strategy

Hint : there are going to be moments that you are going to be a lot better off not picking the top and bottom, but ‘following the line’. Find them and the conditions, and you will be a pretty ‘complete’ trader.

Both systems look the same, but with different intentions, different names. HUH? =P

One trades the top and bottom, the other trades the squeeze breakout.

Who is ‘correct’? ROFL!

I am not going to give anymore hints! =>

thank you again

i certainly get what you are saying

Assuming I do not consider the type of ZZ or formula anyone is using, just a very general but important note on ZZs :

Conclusions :
1-Try not to complain about a tool being ‘wrong’, until one has truly studied what is it really all about + its correct usage.

2-It doesn’t mean a leg is printed, it indicates an price extreme and you start to trade against the leg direction, in an attempt to pick the top and bottom. It simply means ‘price has currently moved so much’.

3-ZZs are good at keeping track of price movement, IMO way better than candlesticks, since :
A-its a good way to filter out noise and only focus on 3 majors - top, current movement (!!!) , bottom.
B-it is a good ‘glue’ to join up / link up candlesticks together, to make more sense of what price is really doing. Candlesticks can be too ‘remote’ at times.

4-ALL ZZs repaint, not because it wants to, but because the market moved (!!!) So all the hooha about repainting is really purely rubbish, when the real focus should be the market, and not the indicator. Trade the market, not the indicator.

5-Correct trading of ZZ is really about identifying correctly what the current leg is really trying to tell you what its doing;
Is the current run of price :
A-Going to end and turn / starting to ‘print’ a new leg ?
B-Going to continue / has more room to grow or extent?
One such way is to apply statistical analysis by collecting all possible legs, then using standard deviations + frequency distributions onto its leg vs leg ratios and timings.

Are u suggesting to marry the two system to make a ‘complete’ system.

No. Marrying them is in fact the worse decision.

Hi kaboemm, was this purely mechanical so that it could be implemented in an EA or did you use some kind of analysis on trades?

Thanks for sharing your backtests, I know how boring they are to make :slight_smile:

hey pipsters

its Sunday evening where i’m from and i had a lot going on over the weekend, then i realized that today is my 3rd anniversary with forex and reflecting on how much i learned and how i wished i join babypips since then image how much further in forex knowledge i would have now but everything happens with time.

that’s when i remembered what PAW3000 said and it kept getting to me like a fly in a BBQ how i was making trades without effort i was literally taking it personally so much to the extent that i wish i knew the person and bust his month for insulting me, i was not going to continue my posts because i was in no way going to take insults from people or a certain no body in particular i was just trying to help so to i realized that my ego was taking over everyone knows men have massive egos well all in all my wife brought me to my senses

so in realization of my childish anger and behavior soon dismissed it and gain raw confidence and great ambition to continue to post trade setups and help anyone who seeks it as others did for me as we continue to grow with knowledge and better our babypips community

always remember

trade with discipline when it comes to trading strategy’s follow all rules

never trade with emotion

let haters hate because without them we as individuals will never improve ourselves

[B]and last please remember[/B]

that successful people do what unsuccessful people won’t? that is Successful people take action. Unsuccessful people don’t.When it comes to your goals you make the choice but do so wisely.

hope this lifts up the spirits of some traders around here

regards

What you can do is to improve the way you present your posts + the thinking process for the setups. Improve the structure and never stop ironing out the weak spots; you will need it. Rational rules replace emotion. Especially when meeting a losing streak (minor or major), which will eventually at some point of your trading career if you trade long enough.

Real professional traders don’t complain about the given situation.

They take full personal responsibilities in their trading, which includes discerning for themselves any information that is given to them. Never assume any information given wholesale is ‘correct’; test it. The information may turn out to be ‘wrong’, but it is really the personal responsibility of the trader to determine that.

They seek out opportunities in any given situation. They stay as rational as possible, despite of both success and failure.

‘There is always a way to make money in the market. Find it.’ - Mark Cook

I am saying all this because I’ve use a similar system before, and it does work (to a reasonably good extent). Because of this, it became a stepping stone for me to move onto an even more accurate system.

Relativity

once again you have shone light on an ever pressing topic and yes i will, am and continuously trying to develop my trading skills and i’m currently reading into your post What Really Turned My Trading Around.

thank you for you wisdom

regards

This is my first trade using this method. I am using exness demo as the spreads are quite lowers than other brokers. I am bit reluctant to use pepperstone because it charges commission and I have to trade in swap free and commission free account as per my religion.

Can anyone tell me that is that commision per 100k trading is different from swap or it is same as swap. If this commision thing is different from swap and traders of my religion can trade this.

Anyways, look at this image @ harrialchadd


Commission is different from swap :slight_smile: right click that bar and you should have an option to show commission :slight_smile:

bad results for me last friday :
17 trades : 8 SL, 9 TP

Maybe, Friday is not good for this method ?