Picking Cherries & Apples

[Relativity]

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!

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!

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…

I will post something up regarding this soon. A basic primer on how to really read and use ZZs correctly.

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.

[B]This only provides a[B] loser[/B] mentality.[/B]

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…

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.

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.

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 =>

[babypip007]

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

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

[harrilalchadd]

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

[harrilalchadd]

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

[harrilalchadd]

ok

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

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

[Relativity]

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

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

The Squeeze Play

From Here and Here

Basically just modifying Boilinger Bands to have Volume Weighted Moving Average formula. Pretty good until I found even something better IMO. Hope this helps to expand your options to see PA better.

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).

[harrilalchadd]

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

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).

[Relativity]

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! =>

[harrilalchadd]

thank you again

i certainly get what you are saying

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! =>

[Relativity]

@JJ6845616

As far as i know no system should be based upon the Swing_ZZ because it tends to change it’s value with the price action and thus it can’t be backtested like a normal system.Swing_ZZ repaints it’s value after the top or bottom is broken and thus can give many fake signals which can’t be detected during the historical backtest.

@paw3000

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?

@Relativity

I will post something up regarding this soon. A basic primer on how to really read and use ZZs correctly.

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

[Relativity]

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.

[manish9300]

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.

Are you suggesting to the merge the two systems to make a 'complete’system?

Who is ‘correct’? ROFL!

I am not going to give anymore hints! =>

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

[Relativity]

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

No. Marrying them is in fact the worse decision.

[Nidolap]

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)?

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

[harrilalchadd]

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

[Relativity]

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.

[harrilalchadd]

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

[imbest]

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

[MitchellForex]

@imbest

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 right click that bar and you should have an option to show commission

[franckyz]

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

Maybe, Friday is not good for this method ?