Simple & almost naked. The dream date or the dream system?

PippinPips · May 31, 2012, 10:36pm

Hey guys, I wanna ask how do we use this indicator “ZCOMFX_daily_trend_2-B” as discussed before?

PippinPips · May 31, 2012, 10:38pm

sandybeach:

Well actually no, i went back to basics and kept things very simple. These are my rules:

Only trend in the direction of the daily trend indicator (as posted before, if indicator is sideways, or against trend no trade).

Only trade between 0900 - 1600 GMT for Monday to Thursday. Friday is 0900 - 1100 and no trading Sundays. I have disobeyed this sometimes but very rarely, i try not to go against this, but humans are humans !

Only take trades where spread is below 5 pips, but im thinking of lowering this to 4.5 pips or 4 pips just to be a little tighter.

The only thing i do different from your rules is that if the current dot is blue then i only take a trade when the price breaks the trend created from connecting the last two blue dots.

I watch 10 pairs at the moments, but i would like to watch all 28, which would in theory triple the trades i had, so instead of 17 trades over the last two days i could have 51 trades, not bad if the profit was 1 pip each, 51 pips over two days. But im sure we could easily take 3 - 5 pips a trade, so 150 - 250 pips for two days work for an EA, not a bad idea if we can perfect it.

By doing this i don’t get huge trades of 20+ pips, but from my experiments i can safely take a profit at 1 pip, i do miss most of the profit but it does mean i only trade in the direction of the daily trend and the current trend of the current ZZ which is always the same of the daily trend direction, just makes it safer.

I find trading this way trades are fast and fluid and the drawdown is quite low which is why i can trade alot of pairs at once which would allow us to trade alot of pairs at once if we are scalping, but to be fair we have proven your strategy works for scalping and for going for 5-10 pips or even 30 - 50 + pips on the hourly charts.

Im not using the bbands or non lag ma at the moment but i have it on my charts just so i can observe it and see if my trades match up with our findings, which so far do indicate both could decrease fakeouts.

We should build the EA so it can do all of what we want so we can find the best settings for scalping, long term, 5min 1 hour etc.

For the EA adding the bbands and non lag ma could help us decrease fake outs, but if you do include them add them as a true/false so we can all experiment with different settings to find what is best

Oh also forgot to say im not too fond of Friday trading hence why only 0900 - 1100, i find i get too many fakouts after this time for the low level of profit im after, so i am not sure if i will continue trading fridays, but i will keep demo trading fridays for the next few months and make a decision then, but i think it will only be between these times.

Hi there SandyBeach, I wonder how did you manage to enter so many trades in 2 days time? I thought the entry was quite restrictive if we are to follow the original method posted by blizard? Especially if you are using minibar 4 for SwingZZ

blizard · June 1, 2012, 12:33am

Am i crazy to think we could trade with just this…

blizard · June 1, 2012, 12:39am

Now thats naked!

Nigelng · June 1, 2012, 12:44am

Blizard, seems like your only posting winning trades. You shld also post some losing trades and comment on them so that we can all learn, if that is possible. Thanks!

So far we haven heard of your rules yet. Or did i miss that?

blizard · June 1, 2012, 12:51am

The rules are clear, trade breakouts and trade fib pull backs to 61-76%. The SL should be the last confirmed dot of the opposite color or you can use SAR to trail your profits. For fib pull back the SL should be just past 100%. Ill try and loose a few to post for you. :34:

thanks

blizard · June 1, 2012, 2:01am

Just caught this pull back for a quick 10 pips.

thanks

Nigelng · June 1, 2012, 2:10am

Hey Blizard, thanks for the reply!

Do you wait for the reverse on the PSAR to enter at the pullback and exit on the reserve again?

blizard · June 1, 2012, 2:16am

Hello, honestly i dont wait for the SAR as it shows up 2-3 candles too late. Enter at the 61% you can even set your SL for a candle that closes past the 76% to get a super tight SL. The risk to reward is great so even if you are wrong, the ones that hit the 161% should make up for it.

thanks

sandybeach · June 1, 2012, 2:22am

Just place it on your chart and you will get an arrow pointing in the direction of the daily trend. Green arrow up buy, red arrow down sell, sideways blue arrow ranging

sandybeach · June 1, 2012, 2:23am

It is quite restrictive which is why i trade 10 currency pairs, it gives me more trades. Low risk

Nigelng · June 1, 2012, 2:26am

Blizard, just trade on 61%? tats all? no other indicators?
Do you wait for candle to close above or 61% or 76% to enter?

blizard · June 1, 2012, 2:28am

Here is an interesting issue, i see a breakout down, but i also see it at the 61% pull back. UP or DOWN. Important lesson here.

thanks

Nigelng · June 1, 2012, 2:32am

for me is a up!

I trust fib more.

blizard · June 1, 2012, 2:36am

could it be?

blizard · June 1, 2012, 2:46am

Maybe this?

blizard · June 1, 2012, 3:00am

here is a setup that just occurred on GBP/USD:

sandybeach · June 1, 2012, 3:02am

Interesting, never thought about Elliot Waves ! Do they look good to help make the system better?

blizard · June 1, 2012, 3:03am

ill take 5 pips thanks !

blizard · June 1, 2012, 3:19am

Here are my trades for the day. Still demo till i get the hang of idraw properly along with fibs.

thanks