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

[madmkiv]

This is very frustrating because if there is a break down below the dashed line I would NOT take it because the red dot is not confirmed. Rules are rules though…

[madmkiv]

About a week ago I posted about an H1 long trade that I said might take days to get to target. Look at that trade now, it made over 200 pips in 4 days! (I did not stick in that long) Note there is no sell trigger yet on H1 so theoretically it’s still long…

Also note the spooky power of the fibs again. There’s definitely something in the fibs if you just know where to draw the damn things…

[sandybeach]

@traderjosh

First of all. Thank You to everybody who has been contributing to this Thread. This is my first post on this thread but I have been lurking and reading. I was wondering if anybody has noticed a difference in profitability when the trendline is basically flat rather than diagonal? Just wondering? I went ahead and took a trade on the Gbp/Usd 5 min and it went for +2 pips and I closed it out because I was unsure if the trendline was too flat (horizontal) and if the first dot was going to act as support. I have also checked out the fib strategy with the 68-73 level pullback and it sure looks good. Please Keep posting everybody, don’t let this thread ever die. BTW I am in west coast USA timezone. market moves the most when I am supposed to be asleep.

I haven’t noticed that actually, but providing the market is active like during the London - New York times you don’t need to worry too much, but have a play and practice with this strategy, its what i did

@madmkiv

Definitely use confirmed dots only, so you have to be patient. As soon as a new dot appears draw a line using the two previous dots before the latest new one. Make sure that you draw a line between dots of the same colour.

I use only one zigzag indicator which is swing_zz_with_alert with minBars set to 3 and SignalAlert set to true. As soon as an alert pops up you can draw a new line between the last two dots of the same colour (but NOT to the new dot!) I change Colors 0 to none so there is no line showing between different colour dots that may distract you.

Also you can use a very simple but effective EA called ZZ (provided in this thread) with min_bars set to 3 that will draw the lines for you. Sometimes it is a little slow drawing the lines after a new dot appears but it does do it for you.

I have had success using EURUSD only and timeframe M15. Hopefully M15 will continue to be successful for me but this is Forex, possibly the most difficult trading market in the world so things may change which is why I like to use this thread.

Good luck

Also guys i have found this strategy to work well on the following currency pairs:

EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
EURGBP
EURJPY
GBPJPY
AUDJPY

I do only trade from 0900 - 1600 GMT, so i can’t say how things go outside of these hours, but they work a treat inside these hours. I do plan on trading more pairs one day next week as an experiment, so i’ll post my findings then.

But yes, the higher the timeframe, the more profit you can take on each trade and less chance you will get of a fake trade / loss. Those are my findings.

Also the difference between minibars “3” and “4” is that “3” makes the ZZ shorter so in any 24 hour period you will get more opportunities for entries.

Put ZZ on one chart with “3” and “4” and your see the difference, sometimes there is not alot between them, which is why mine and Blizard’s trades sometimes are almost identical even with this difference but then othertimes they are different.

I think we can safely say after all our own testing this strategy is safe to work on all timeframes / pairs. I know its a bit bold to say, but i don’t see anything against this or am i missing something?

Please correct me if im wrong guys

---

Also i have something that may be of interest or not, i thought i would share as i use it to trade and find it useful. The EA is only useful to close trades, it does nothing else. Attach the EA to any chart or any timeframe after editing the TP and SL. What it will do is close any open trade from any pair when the TP or SL is hit. The beauty of this EA is you can set the TP very low at 0.1 or 1 pip if you want. The only advantage if this EA is if you are openning trades quickly you don’t need to set TP or SL in your trades, just open and let the EA close. As this is an EA the trades wont close exactly on 0.1 but maybe at 0.5 etc as the TP or SL is not hard coded into the order. Not sure if this helps anyone trade any easier on the lower time frames.

Goldylox re-wrote the original EA and here it is below with the thread:

http://forums.babypips.com/expert-advisors-automated-trading/44903-ea-modification-close-profit-3.html#post358587

-CloseAtProfit_-_v2.00.zip (874 Bytes)

All credit goes to Goldylox for this EA.

[apfrezza]

Definitely use confirmed dots only, so you have to be patient. As soon as a new dot appears draw a line using the two previous dots before the latest new one. Make sure that you draw a line between dots of the same colour.

I use only one zigzag indicator which is swing_zz_with_alert with minBars set to 3 and SignalAlert set to true. As soon as an alert pops up you can draw a new line between the last two dots of the same colour (but NOT to the new dot!) I change Colors 0 to none so there is no line showing between different colour dots that may distract you.

Also you can use a very simple but effective EA called ZZ (provided in this thread) with min_bars set to 3 that will draw the lines for you. Sometimes it is a little slow drawing the lines after a new dot appears but it does do it for you.

I have had success using EURUSD only and timeframe M15. Hopefully M15 will continue to be successful for me but this is Forex, possibly the most difficult trading market in the world so things may change which is why I like to use this thread.

Good luck

Thank you so much madmkiv!

I suspected exactly all the things you wrote me…so I was on the right direction!

Another question…what about the target and stop loss? You use Fib. How you draw it? You use the two last confirmed dots?

[madmkiv]

Example of confirmation of red dot making red line ‘live’

I am ready to short M15 if bar opens on the downside of this ‘live’ red line

[madmkiv]

@apfrezza

Thank you so much madmkiv!

I suspected exactly all the things you wrote me…so I was on the right direction!

Another question…what about the target and stop loss? You use Fib. How you draw it? You use the two last confirmed dots?

If there is a break down then my target will be -68.1 fibo which you manually add to the Fibonacci Retracement tool in the MT4 toolbar.

I draw the fibo from the last two different colour confirmed dots.

Please note this is a work in progress and I certainly can’t guarantee any of these suggested strategies will work…

[madmkiv]

Based on the Fibo chart in post #846 it is perhaps where Blizard’s expertise can come in. Because already price has gone above the 76.4 retracement he likes so much. Any comments would be welcome.

[infinipipz]

caught this EU M5 DTL breakout. Out with +18pips

got to stop today, my Internet connection not stable… :34:

[christinaa]

Thanks for all the help Sandybeach i really appreciate it
When you say you start trading at 9 GMT, the Euro sessions already been on for 2 hours, do you count the dots from those 2 hours and only start trading at 9, or you only count dots that actually form after 9?
Thanks

[christinaa]

BTW Blizard im really looking forward to your live chat seminars

[paw3000]

hi,
first of all, thx for sharing and improve this amazing system, you are doing a nice work. Im not a pro, im just another “blind” succesful trader there ^^.
I have been trading a similar system the last month. just using the last 2 fractals line and looking for a breakdown. I like the 1 hour and specially the 5min timeframes, but there are too much fractals there, so i use a stochastic to confirm the entry. Now i added your zz to the 5 min to have even more signals, and it seems to work nice. About the fibbo retracement as a entry point, can be a good idea to put there a heiken ashi, and whait until it change colour to confirm the retracement? and what about adding a bollinguer bands there, and trade them like a fibbo, waiting until the dot appears?
i know im adding new things, that can change completely the strategy, but there is too much “uncharted land” there. Just giving new ideas. (sry for my bad english)

[sandybeach]

Thanks for all the help Sandybeach i really appreciate it
When you say you start trading at 9 GMT, the Euro sessions already been on for 2 hours, do you count the dots from those 2 hours and only start trading at 9, or you only count dots that actually form after 9?
Thanks

Heya i generally only look at the London Session just as this is best for me time wise but with the overlap from the US this gives the most active time globally for trading, as London followed by New York are the most traded markets.

The reason i trade 0900 - 1600 GMT is that London’s time are 0800 - 1700, so normally the daily trend has set in by about 08.30, so by 0900 i find most fakeouts have come and gone. Also by stopping entering trades at 1600, this gives me time to come out trades as the London session will start to wind down after 1600 to its close at 1700, but the US session helps to give more movement.

When 0900 hits, then it depends on the chart, if the trend line has already been broken i just wait for the next one. But yes i do use the dots from before 0900, i just start entering trades at 0900 if the positions come up.

Now this does limit the number of trades i can get including the fact i only trade in the direction of the daily trend, but i do all of this for the following:

1. I am a newbie and i want to become consistenly profitable in pips even if i miss trading opportunites or times to get big profits. I am aiming for as near to 100% success as i can get.

2. Conserving my account is paramount and more important than anything else, if i have a loss it happens, but generally if i enter a trade wrong, as i am going with the trend it will close out in profit most of the time.

3. Once i get more experienced in trading then i will relax my trading rules, but this wont happen for a long time, my end goal is to become profitable enough so i can quit my day job. I know this is a tough goal to achieve but those are my plans

I do miss out on a lot of trade opportunties and profit as you can see from the guys above, but for me preserving my capital is most important. I missed one trade today but i would of been up +2 pips from one trade with no losses today if i had caught it and not been working

[sandybeach]

hi,
first of all, thx for sharing and improve this amazing system, you are doing a nice work. Im not a pro, im just another “blind” succesful trader there ^^.
I have been trading a similar system the last month. just using the last 2 fractals line and looking for a breakdown. I like the 1 hour and specially the 5min timeframes, but there are too much fractals there, so i use a stochastic to confirm the entry. Now i added your zz to the 5 min to have even more signals, and it seems to work nice. About the fibbo retracement as a entry point, can be a good idea to put there a heiken ashi, and whait until it change colour to confirm the retracement? and what about adding a bollinguer bands there, and trade them like a fibbo, waiting until the dot appears?
i know im adding new things, that can change completely the strategy, but there is too much “uncharted land” there. Just giving new ideas. (sry for my bad english)

Could you post your charts if you dont mind Paw3000 im curious to see what your doing All suggestions are welcome

[dwcarrigan]

Hello All,
I’ve read from post one to current. Wow! Alot to digest. I’m gleening from your experiences and learning quite a bit. I know this has been posted and I’ve saved “the rules” but as they seem to evolve I would like some clarity on the rules. I understand mark your fib on the last two confirmed dots watch for 61-76 retracements and horizontal line on last confirmed dot and look for breakouts. Use PSAR for TP when 1 or 2? dots show up? What are the indicators that Blizzard has finally settled upon? PSAR, Swing ZZ and fibs? Is there a way to make the red/blue dots bigger? Mine are tiny. What are the settings for each of the indicators? Am I missing something? It has been entertaining and educational reading all these posts. Thanks so much for taking the time to share your experiences. Hoping to make trading a full time occupation one day.

[dwcarrigan]

Also, how do I take a snap shot of my screen and show what I’m doing so I can get feedback. Sorry, I’m a mac guy and I don’t know my way around the Windows world.
Thanks!

[madmkiv]

Finally I am in a trade today!

M15 EU short @ 15:15

[apfrezza]

@madmkiv

Finally I am in a trade today!

M15 EU short @ 15:15

Hi Madmkiv,

I am on the same trade…I entered the trade and just a few seconds ago I opened this webpage and noticed that we are exactly on the same trade! Let’s hope!!

[christinaa]

@madmkiv

Finally I am in a trade today!

M15 EU short @ 15:15

I think thats the same signal that also shown through on the EU 5 minute, a break below. I made 15 pips , i hope you hit your target

[christinaa]

Also, how do I take a snap shot of my screen and show what I’m doing so I can get feedback. Sorry, I’m a mac guy and I don’t know my way around the Windows world.
Thanks!

Hi, i just click Print Screen on the keyboard, maybe PrtSc
then i past in paint
maybe someone can tell you the direct way though

[blizard]

Looks like that 15 min trade is headed in the right direction. Some nice trades on the 5 minute Eur.Usd also today. The boxed arrows show fib pullbacks to 61-76%, the unboxed arrows show breakouts.

thanks