eurusd m1, swing_zz minbars 4. this was a long above the white trendline. i entered with my ea, but it opened the trade late. break pips was set to 2, and the signal candle went about 1.8 pips above the trendline, so the entry was on the next candle this is not too good in this case, i lost here 5 pips because of the late entry. than price turnd against me, but still, that was a valid long signal, and if i can’t get a short signal, i expect to go long. that’s why i made a pending order, a limit buy at the previous dot’s level. price bounced several times from it, and also that was a daily fibo, so i had to try. then price went up, it broke the previous high. my take profit was 10 pips from my first entry, but the price was turned down again so i closed the trades.
next trade was when price broke the red trendline. i didn’t take this one, it’s a shame, that was the signal just before the big fall on eurusd today there was “million” pips in it, so i could have my 50 pips daily target easily (i guess)
what do you think? i missed there something or i did everything well?
as you can see from the above example, late entry can be really profitable in this system! it has very tight stoploss, so the riskreward is very good. you could play this as shown in the screenshot and after the red trendline break too, just in the opposite direction!! i remember, Blizard mentioned this earlier, i think i’ll play these tests too if i see them on charts.
Hi everyone, great work on the EA. I’m working on using the Blizard manual strategy and I’ve had some success but still miss good opportunities. I have the ZZ set at 4 and I would like your thoughts on the attached trade I did this morning. As you can see I was stopped out at -17 pips, the order was no where near a 100 number or the Fib line – please help! Did I miss something?
i think this strategy isn’t perfect (none of them is). as for filter out these trades … there was a pretty solid resistance on that area where the signal candle is. i watched eurusd too when u did. i guess we should wait in cases like this to break that level upwards to enter a trade. this time it was the first blue dot on your screenshot. but i’m just guessing here
Yes, thankyou stockneon, I see what you mean. I have spent a lot of time looking at this trade and I think you are right. I’m only doing the euro and the gbp are you looking at any others and may I ask how you are doing overall?
i worked this week and couldn’trade, but overall? i’m in loss still … the strategy has the potential in it. i’ll begin trading active with this system and post every day’s results. daily target is 50 pips for me on about 10 pairs or so. every one of them moves, so there’s plenty of opportunities…
this time I use 14 50 200 ema. Red line is a very strong resistance , right above 200 ema which is flat , 50 ema is flat , 14 nearly flat, all of this at 65 level . 65 is EUR/USD’s big number , this 65 nearly always effects price movement , watch out there.
In spite of several no-no circumstances this could be a valid movement , breakout of the year.
BUT ! you have to let it prove itself . Wait for retracement , rising three , three white soldiers or something similar. Must be some indication there that this movement has strength.
No long here either. Right under 200 , 50, sloping down ,choppy downtrend.
There are two bottoming tails nearby / long signal / but at the wrong location. They can be really helpful after a big drop .
Final note . This was my evaluation of this trading signal with my method. I’m not an active trader with live account , there is no guarantee that this approach will be profitable in the long run . I just like MA s, they help me to see whats happening. Main thing is trendlines and S/R lines. That is the reason I really like this trading system and will work on it.
Good morning Stockneon and Deno - thank you both very much for your help on this. I’m in my first coffee and second trade of the day. The first was long euro/$ and the one I’ve just closed was short as it bounced off the Fib, and it looks like I got out too soon as I write. But that’s OK as I’m up 7 pips for the day so far. I‘m not using real money yet as I managed to almost kill my live account over the last year (two big days of Hot revenge trading, now I get the old proverb that revenge is a meal best eaten Cold!.)
Deno – a dumb question – why is the 65 a big number in the euro? Time for a re-fill.
Hi Stockneon, I have added 2 more pairs, the $/jpy and the eur/jpy as they seem to have the tightest spreads on my Alpari demo and besides it’s the most I can watch 4 pairs easily on my single screen. I like your goal of 50 pips at the moment I’m aiming for 20 as I still have a big learning curve (there is a dim light going on somewhere between my ears that its every bit as important to see which trades to stay out of as which to get into!) however I really like the Blizard strategy, it just feels right.
I’ve been following this thread for a few weeks with interest.
I’m using the CMC platform which means I can’t use the EAs or whatever to paint the dots on the charts.
It looks quite easy to work it out for myself, so I wondered if someone could give me the precise conditions to where to place the dots? I notice some peaks/troughs don’t have dots where I might expect them, so I assume there has to be so many bars or price difference before re-painting?
I’ve tried looking for the answer on previous pages but cannot find it, so sorry if I’m running over old ground.
fxscalp , I’m back, had to work. When I watched fulcrum levels , 00-20-50-80 , I noticed that this pair had an inflection at this level , 65 , stronger than 50 or 80 !
Since then I watch this number . Thats all .
Fulcrums are universal , at other pairs watch out when price gets there.
I’m still only watching EUR/USD . I do not believe that adding pairs would increase profitability.
There’s no way to go around the basic question ! HOW to evaluate a trading signal???
If you do not have a consistent method to do that , do yourself a favor , stop trading !!! , think about it.
Wayne G.
This would be an advanced level , drawing lines without ZZ . This is my long term goal , trend lines without training wheels.
This is a fantastic system , probably more valuable than anything else out there .
Simple , elegant , you just have to study it for a while , learn how to use it.
Wayne , if you want to see dots get a Mt4 platform , MBT works like a charm, and it’s free.
Thanks for this System Blizzard! I really like it, but like others I’m still trying to learn to be profitable with it. And thank you
Stockneon for the EA. I hope you don’t mind that I made a few modifications to it for my own personal testing.
I had hoped that this system could be successful when automated but after a lot of experimentation I have mostly given up on letting an EA trade this system. I modified Stockneon’s EA so that it would not trade when the price was within 10 pips of a Fibo line and added an option that let me set it’s trading times. No matter what I set the TP to or what times I let it trade it lost in every backtest I ran.
this is not too good in this case, i lost here 5 pips because of the late entry. than price turnd against me, but still, that was a valid long signal, and if i can’t get a short signal, i expect to go long. that’s why i made a pending order, a limit buy at the previous dot’s level. price bounced several times from it, and also that was a daily fibo, so i had to try. then price went up, it broke the previous high. my take profit was 10 pips from my first entry, but the price was turned down again so i closed the trades.
i guess you should download the swing_zz indicator and look for the answer in the code.