Hi pippin, the strategy i use current combines Breakout and fib pull backs period. You can connect the dots or draw horizontal lines (lower lows or higher highs) and if there is a break in the trend, take the trade. Alternatively, you can connect the last 2 dots and if you see the current price action apporaching the 61% pull back, enter the trade. For TP you can use SAR. Thats it.
On the image attached you can see there were 3 perfect fib pull back entries and a couple break opportunity. If you combine these 2 methods you will have many intraday opportunities. The fib have better risk to reward ratios than the breakouts unless you use the SAR as a SL, then both methods are very powerful.
This is the link i have, so if you sign up from the below link it should have me set as your referrer. Im sure the ref id is as below “12406”.
If for some reason the affiliate does not work send their support and email and they should find my account by that number, otherwise IM me and i’ll give you my email address which is my username which they should be able to find.
I was hoping you would say that regarding the market, my only worry with forex trading is getting a nice run with a strategy, market change and boom have to find a new strategy. But i think with your one were set for life.!
Hi Pippin, no worries, to be fair i have to share some of the blame for that as i am trading Blizard’s strategy slightly differently to him which is not making it easy for newcomers. Also what i have noticed with this strategy is its very configurable, as we discussed in our experiment with different indicators, but were leave that for another post.
Take a look at the chart below, i’ll only cover just the basic trend lines to keep things simple
We mentioned below trend lines at an angle and Blizard’s new horizontal trend line rule. so as you can see below where i have drawn the trend lines. Also if you get a trend line where the second dot is higher than the first then you draw a horizontal trend as seen below otherwise it is a vertical line.
Once the candle has closed after breaking the trend, enter a trade, as you can see below these are two good examples of trades we could of entered.
Let me know if this makes sense. Personally just manage to master this, for now just demo trade and forget about all other indicators, forget about the daily trend indicator, fibronacci etc. Once you have got used to trend lines and trading them, then were move onto the other indicators.
You know how i learned this strategy? i stuck Stockneon’s EA (which you can get from the first post in this thread), and i watched the trades it made for days ! What is great about Stockneon’s EA is it marks on the chart a red and blue arrow for entries for buys and sells, so if you can’t watch the chart all day as your working you can go back and see the entries and draw the trend lines yourself, but i would recommend just watching the charts on the 1 min chart and your get an idea of how to draw the trend lines and when to draw them.
I would recommend trading on the 5min rather than 1 min chart, its too quick for me and i make too many mistakes.
Once you have mastered basic trend lines and how draw them and use them and using them to enter trades were go onto how to use Fibonacci.
Just take things slowly and piece by piece. I promise it will come together and make sense. If Blizard can turn me from a newbie to in range of weeks away from trading live in 6 months, anyone can do it !!
Also what hours are you trading? Best hours for trading is the London session (1400 - 1700) GMT which is the London - New York markets crossover time where your have the most movement in the whole market!! otherwise the London market is best (0900 - 1700).
Also PippinPips, one thing i do is only trade with the trend, never against it and i only trade between 0900 - 1600, the london market hours are 0800 - 1700, this gives me more movement and as im a newbie i am trying to make myself as profitable as possible as quick as possible.
The main difference to why me and Blizard operate differently even slightly is he is a pro at forex trading and i would say an expert as he is generating real money consistently and its not a few dollars a day !! We can see what he is generating.
Me well at the moment i am still demo trading, so generating nothing at present, as Blizard is more experienced he can see things i can’t and can and does avoid mistakes i make also i am assuming Blizard probably automatically ignores risky areas but this is due to experience.
Quite frankly i don’t have this level of experience, i want to and i know i am getting better every day which is why i am trying to experiment with everything in forex from manual, EA and im between and coding to improve my knowledge and learn.
Blizard’s trading is geared for maximum profit, my trading is geared for maximum protection of my account, i would prefer to have almost 100% trades at very low profit than have any losses, i may make less than Blizard but this is my choice. Over time as i get more experienced i will relax my rules and trade in both directions of the trend and trade for longer hours during monday to thursday and longer on fridays.
I hope this helps to clear things up a little bit.
Also Blizard if i am wrong with my assumptions about you and your trading i do apologise and please correct me so i can amend this post.
Hi SandyBeach, I think you confusing ppl even more.
The only strategy i see Blizard using recently is the fib pullback for now. What ppl see from sandybeach or blizards past post on breaking of trendline is the winning ones. The strategy has major flaws which in my view is not acceptable as a PLAN. Its not a CONSISTENT PLAN, but rather a SHORT CUT to trading. It works maybe 60% of the time, but ur Risk Reward ratio is arbitrary. Like sandybeach just getting 0.1pips is really unheard of! if u get one wrong, it will negate all your 0.1pip gain! pls as newbie don follow sandybeach or even blizard! I learn it the hard way.
For fib pullbacks if u wanna learn it propertly there are some other threads by consistent and pro traders which they have solid plans which they stuck out to it. One if is 30 pips a day keeps you at bay and another is fib retracement trading by daedalus. Go search for it and learn from these pros.
This thread i find is good for discussion but STRICTLY NOT for learning! If u see how sandy or blizard been changing their strategies is good enough a proof of their inconsistencies. fyi i think blizard is still on demo on the fib pullback, if i read correctly. SO PLS TAKE SANDY’S ADVICE WITH A PINCH OF SALT!!
I disagree, Sandybeach has done a great job and at least he is taking time to answer questions properly simply because he wants to help and encourage traders. 20 pips is all you need so if SandyBeach is taking 10 trades so be it. Maybe as time goes on we will all get more comfortable with the system and let the profits ride but its always easier said than done.
I started using the idraw EA 2 weeks ago to enter trades automatically once i draw trend-lines manually and i am demo trading until i double my account size which is the prudent thing to do.
Most of the feedback until now has been positive and that goes for many users of the system. We are all here to help each other and improve as traders. I certainly do not apologize for the evolution of the system and addition of new rules that have increased profitability such as the horizontal trend lines in certain situations. I think of the fib pull back as a great addition also.
And these Fib pull backs or OTE combined with breakouts are terrific in my opinion.
Maybe next week we will find another alternative that can make this system even better but to say that this is a short cut sounds like the forex market has really hurt you badly sir and you are taking the frustrations out here. Maybe im wrong.
I will surely checkout the experts on 30 pips keep you at bay and the fib system because i always want to learn more about trading Forex.
I did some back testing and then went live for the many “encouragements” and “proofs” i took from sandy and blizard. But in the end found out that its NOT THAT SIMPLE. Yes there are winning trades but also losing ones, it somehow became more random than not.
Like i said, newbies pls take this thread for DISCUSSION ONLY. Share your winning experience as well as losing ones so that ppl can learn. Dont take sandy’s or blizard’s advice entirely, coz their statements can be very distorting and makes u wishful and encouraged. Which can be dangerous if it is not true and will deter ppl from trading entirely after finding out or blowing their accounts.
My sole purpose for playing the “devil” here so that readers do not plainly follow their advices because clearly it is flawed! I m not taking out on anybody as i understand it is a common mistake here in this forum. Alot of ppl like to post their trades or supposedly “new found” strategy so that ppl in the forum can improve and comment. Here is my verdict, the breakout of trendline is DEFINITELY not a solid strategy for scalping. It has changed from the “SIMPLE and NAKED”, to using many indicators. Scalping requires more than just a break of trendline, which is very RANDOM. You need high probability trading to succeed in this business and not luck, hoping the price will go in ur direction to get like 5pips. This strategy is too simple to be true and good, which is the case here. It leaves traders with much emotion and discretion! It will turn out to be gamble which you dont want tat to happen! Scalping is not for everyone if you’re not skilled, and blizard telling you it is simple and naked is very very wrong. ITS THE WRONG ENCOURAGEMENT TO MAKE!
IF YOU REALLY WANT TO LEARN THE PROPER TECHNIC, I DEFINITELY DONT ENCOURAGE PPL TO TAKE IT FROM HERE. DEFINITELY NOT FOR NEWBIES!
ps: i lost some money but just on minilots. i wasted alot of time and the mental frustration is wat it cost me the most!
Hi Nigelng, i understand the frustration you are feeling, you have demo traded, i am assuming not for very long and gone live and it went wrong?
I do welcome critisim and the devils advocate.
I have been demo trading for the last six months and for the entirety since the start of Blizard’s thread. Also i have made it very clear many times that i am demo trading, that i am not a pro and i am a newbie and i have posted many warnings in red and not in red on my posts to try to make things clear.
Also i have traded my way for the last 3 weeks and so far only lost about 5 pips in total while gaining about 16-20 per day on average, so i know this works for me.
Also anyone following this thread, reading every thread would of realized we were experimenting with this strategy and we are still trying to improve it.
I am a big fan of this strategy as with all my trades i have traded in the day, evening, morning, night so i have found the best times and what works for me through alot of hard work and experimentation (which i have only briefly posted about).
Nigelng how long were you demo trading before you went if you don’t mind me asking?
Could you post some setups so we can help you improve?
Also to be fair anyone new reading this thread or any thread on trading whether new or old should take what anyone says, regardless with a pinch of salt, demo trade, ask questions and understand the risks. Remember forex trading is all about accepting losses happen.
Just like in real life in retails we can sell a 3 cars for $100,000 and make a huge profit or sell 300,000 small items for $1 each and arrive at a similar profit.
Its just what we all prefer.
Also Nigelng, i have been posting my loosing trades as well as my winning ones, you can clearly see these in my posts, and i have explained everything, you can even check out each trade yourself on your own charts i am not hiding anything.
I know Blizard’s strategy works as i have tested it and it works.
Let us know how we can help to improve your trading Nigelng.
After a few month on the sidelines let me tell you what I think, strictly my opinion.
Does not matter how many indicators , pairs , EAs , and god knows what other weird stuff you try to add , if you can not be consistently profitable using Blizzards original 1M EU /USD system ,do yourself a favor , forget about this thing, try something else.
Before you make comments like this, read the entire thread. If you had you would know better. The strategy has changed since the first post. No indicators. The SAR is used as a dynamic stop loss.
Hi sandy, i do appreciate your effort in testing and trying to improve, we can all see that. But i can guess that your still new to forex like me, therefore I strongly suggest to learn from other threads first. Its like blind leading the blind now!
I think my comments are really necessary becoz so far, like blizard said, all has been positive which I for one is not at all positive. I wanted to warn all newbies that it is as random as playing black or red in roulette. This stratgey is really [B]NOT SIMPLE AND NOT NAKED AND NOT DREAM SYSTEM AT ALL[/B]! It absolutely far cry from it! I think its very irresponsible statement to make.
My message is really just for newbies, forget about this strategy and learn from the pros especially the honorary members or at least the master contributors. Get the basic right from these pros, there are no shortcuts!
Sandy i only trade the london and newyork overlap sessions.
Ok guys, to make one thing clear i do not want to start a flaming war and any of my comments below are not personal alright?
I agree, not every strategy is for everyone, there are lots of strategies on Babypips and not all of them are for everyone, even the pro’s have their preference’s and i doubt the pro’s can trade all strategies succesfully.
Please note for best trading use the 5min chart, not the 1min chart, it is more stable for this strategy.
Spot On. Look at my chart below, this is how i trade.
MACD Indicator (only used for experimentation, not needed or used for this strategy)
ADX and CCI Indicator (only used for experimentation, not needed or used for this strategy)
Stockneon’s EA and Daily Trend Indicator
Hi Nigelng, with respect i have to disgree with everything you have written above and i’ll break it down below:
I am new to forex, and i have stated this many times on my previous posts, i have always maintained i am a newbie.
With regards to the blind leading the blind i disagree here, Blizard posted a working strategy to begin with and we have all helped it along with indicators, EA’s for trend line generation. We all have to learn forex somewhere and that is what we are doing. I have made it very clear in all my posts we are learning and to be careful and demo trade. I doubt i could of made this clearer that we are all here to learn and improve. That is what i am, Blizard’s strategy has turned me from an unprofitable trader to being on the verge of going live, so i have definitely learned something from Blizard. Were all here to learn and improve our trading.
The comments from most are positive, this is as we have a healthy discussion going on which i would like to maintain, i welcome all critic’s and comments and i will help those that need help like those who have helped me (you know who you are and thanks !!!).
Healthy discussion is the only way forward, negative comments simply don’t help.
I disagree, with roulette the Casino always has the upper hand and always wins, that is why no matter how many winners there are in a casino the casino is in profit at the end of the night.
Forex trading is not gambling, the main thing is that how many people make their living from gambling in a casino, without any other job or income? Answer??? Well i don’t know of any. With forex there are lots of people who make their money from currency trading. But more to the point their is a whole global business dedicated to this, there is no global business dedicated to making a living from gambling?
Also forex trading is more than just having a working strategy. You have to be good at the following in my opinion:
Money Management
Patience
Emotional Control
Accept Losses when they happen and move on
No strategy is 100% success, if there was everyone on the planet would be trading it and someone would make an EA to trade it.
As you can see above from my charts, i doubt this strategy could get any simpler, i don’t use Fibronaci, Pivots or SAR. I simply use trend lines and Swing ZZ, nothing else.
I doubt i could trade this system or any other system any simpler than this. If you find one please post it here, i would love to see it, as if you could find one, surely an EA could trade it 24/7 and since there are so many strategies i doubt there is one!
Guys honestly im loving this thread more than ever now. In my opinion a break in a trend-line or trend-lines in general are the only true support and resistance level along with the physiological 100 level and finally fib extensions period. All indicators are lagging thats why we dont use any lagging indicators. So fundamentally our system is based on true price action, the candle sticks do all of the talking with some fibonacci also. So a system, that doesn’t use any indicators other than a ziz gaz dot to identify true support and resistance levels is a great place to start because once the price actions breaks this point, something up.
I cant speak for everybody but I played connect the dots as youngsters and thats all this system is. In my opinion it doesnt get any more naked or simpler. Now the new adition is simply this:, if you have higher high on the “buy” or upper dots, just draw a horizontal trendline so you can take advantage of a trending market. Of-course the same is true for the sell market, lower lows = horizontal lines. This evolution in the system has been amazing!
Using the same 2 confirmed dots, you can also draw fibonacci levles to enter at the 61% pullback to gain even more profits.
Nigelng is correct about the the risk to reward ratio for the trendline breaks thus the introduction of the SAR, a safe place to place your SL. The SAR now controls the risk for us.
So what have we changed since the very first post:
#1 Lower lows or higher highs = Horizontal trend line at the last confirmed dot. #2 use the SAR to place your SL and let profits ride. #3 (optional) Using the last 2 dots, draw a fib and often the price will bounce at the 61-76% level.
and thats all folks. All other discussion about bands and no lag Ma’s was just that, pure discussion.
Hi sandy, any comments are healthy as long as it doesnt get personal and no vulgar words used As i said, there must be clear rules to rid of emotions or patience etc. But seems like there are many indies on the screen u showing, still finding it hard to follow.
Blizard, just curious are u finding success more on fibs pullback or the break of horizontal line?
Also u mentioned earlier that SAR maybe a bit too late for the action. Care show some examples or screen shots?
Hi Nigelng, i agree, i never understand why on so many forums people have to curse or take things personal when someone offers a different opinion lol, one reason why BabyPips is my favourite, we don’t have any of those people here
But yes i do agree that there must be clear rules. But Nigelng please note that the indicators on my screen i dont use for trading, i only have them on screen to help me learn forex so i can understand when the markets are changing, which has helped me alot in my learning of forex in general, but i only use the swing zz and daily trend indicator.
Take a look below, this is what my charts look like, this is all i need to trade, the rest is just to help me learn forex
Hi Nigel, they are both successful. Here are fridays trades, all arrows without the box are breakouts, all arows with the box are fib pull backs to 61%. Doesn’t look like vegas to me. Pretty nice odds! There might be a losing trade in there somewhere but overall over 85% accurate
Hey Blizard, my apologies for asking this again, i remember when we first start this thread your goal was 15 - 20 pips a day which you could hit easily.
With the horizontal trend lines and SAR etc, are you still hitting this number (15-20 pips), or have you got much higher?
Just curious to see how your doing now if you don’t mind me asking
Hi sandy, i usually only trade for the first 3 hours of any 1 given session per day so i usually get my 10-15 pips daily. If i trade the EUR session, im usually sleeping during the US so i aim to trade 3-4 hours of either the EUR or USA. And I rarely trade both. Lately ive been trading the AUD/JPY during the ASIAN so i may start trading bother the ASIAN and USA going forward but the most active is the EUR session by far. Its really hard to stay awake from 2am-6am here in Toronto.
Man that is tough, i would find that hard too how do yo manage to trade and not make mistakes? I think i would be too sleepy to do that, how are you finding the asian session?
Do you get some good breaks during the asian session?
