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

[rmboya]

Hi all,

Blizard i have been following this thread in the background ever since you first posted your system back in February. I am a newbie in Forex( when i say newbie, i mean new new!!!), even with your posting of the simple system back then, i still didn’t quite and so on my part, we can say i was “shy” and felt i couldn’t contribute or was as experienced. Following the thread further along i have seen you guys are COOL, no question goes unanswered and there is no foolish question. For instance, Sandybeach from what i can see was also new but she has been diligent all the way and now she’s a main contributor to this thread. (Sandy, please keep up the good work).

Blizard i guess my first quetion would be, when entering a trade based on a pull back from Fibonnaci line, do wait untill it exactly hits the line as you have shown or its not a must it exactly hits the line.

Secondly, i noticed your sweet spot is the 61% point, should it always be that or you can consider the other levels when entering trade.

Third, do all your trades go successful or there others that fail ( out of perhaps 10 trades a day, how many are successful??)

Last but nor least, do you still use Parabolic SAR and if yes what are your settings?

Regards

[franckyz]

oh, that was a nice morning, +80 pips, 9 trades 0 fake breakouts, i love mondays ^^.

Good job !
On what pairs ?
And with strategy breakout and fib ?

[paw3000]

hi rmboya. Welcome to this tread, i hope we all can help you to pass from “new, new” to “new and profitable”.

I don’t recommend you to trade using fibos as entry point. Thats more dificult than drawing the fibos between the last 2 dots and enter at the 61,8/76 line. You must wait for a “clear” retracement signal and enter at the precise second to be long term profitable. At this point is where good traders like blizard shows his value, and where others like me fail the 75% of the times. So i recomend you to trade only breakouts, and use fibos only as a take profit. However that’s just an opinion, dont take it seriously, if you feel comfortable trading retracements go for it.

@franckyz

Good job !
On what pairs ?
And with strategy breakout and fib ?

I trade only breakouts on min 5 and 15, and sometimes on m1 too. I trade all pairs less nzdcad, audnzd and eurchf, that tend to stay in range, or move slowly with high spread.

That was the best day i had so far, +130 pips forex, +109 oil.

the usoil chart:

[franckyz]

Ok, thanks for you reply.
What do you use for TakeProfit and StopLoss ?

[alphaace1]

no webinar tonight?

[alphaace1]

hi guys anyone have a consistent overall winner with the system…with a set rules guideline so far? i think alot of members are getting confused about what the rules are so i recomend we set in place some set criterias for trading with this strategy because after all if an EA is the goal we cant be guessing which version of the strategy we should trade right? with rules in place the seed of doubt can be removed… if its a loss its a loss if its a winner with high probability then enter more often then not in certain setups etc…

[blizard]

Hi all I will be now trading the 1 hour charts also going forward. I have had some great results over the past 2 weeks on a demo and i draw the trendlines within 5-10 minutes every night and then just monitor them redraw them in the morning and then repeat. I literally spend 1 minute on each chart and I have 5-7 charts open on the 1 hour time frame. Im using the trend-line break EA to enter the trades and manage the SL. This is allot less stressful and more profitable for me. This strategy work on all time frames, now the only question is what type of trader do you want to be? Scalper/ Intraday / Swing etc.

thanks

[dwcarrigan]

Which charts are you using for the H1? What is the trend-line break EA? Is that the Swing ZZ? Which version? Using trend-line to manage SL - How?

Thanks for the education. I’m just starting to get this strategy down.

[sandybeach]

Out of interest guys what level of TP are you using on the 5min charts for the horizontal breaks?

Im finding 5 pips is easy, but im thinking maybe 10 pips is more realistic, what do you think?

[PIP_CHASER]

Does the swing zz indicator repaint? Just wondering if anyelse noticed.

[paw3000]

@franckyz

Ok, thanks for you reply.
What do you use for TakeProfit and StopLoss ?

on m1 i go for 3-7 pips, with stop lose at -10 or at the previous dot, like blizard original system.
on m5 i go for 5-20 pips depend of the sesion and the pair im trading, and sl at 10/30pips or at previous dot if it is between this sl lvls. However i use to close it before if i saw an oposite breakout at min 1.
on 15 min im looking for a 161,8 fibo lvl between 20-50 pips and i put the tp 5 pips above and the sl at the same distance than tp.
trading oil i use the 161,8 fibo retracement or expansion lvl.

@alphaace1

hi guys anyone have a consistent overall winner with the system…with a set rules guideline so far? i think alot of members are getting confused about what the rules are so i recomend we set in place some set criterias for trading with this strategy because after all if an EA is the goal we cant be guessing which version of the strategy we should trade right? with rules in place the seed of doubt can be removed… if its a loss its a loss if its a winner with high probability then enter more often then not in certain setups etc…

thats normal, everyone trade with the settings wich they feel comfortable. Thats what make this system profitable, that it is easily customisable to trader personality. However i agree with you, that can be truly confusing for new trades who are not able to spend several hours reading the previous 104 pages, and, at this point, a general and clear rules are a must. We need rules for the tp and sl too, wich i think that they are the weak spot of the current strategy. Im not sure if blizard use a 161.8 tp lvl or an arbitrage tp, and if he’s using the psar as stop lose or the previous dot.

@sandybeach

Out of interest guys what level of TP are you using on the 5min charts for the horizontal breaks?

Im finding 5 pips is easy, but im thinking maybe 10 pips is more realistic, what do you think?

Why not 7,5? ^^. On eurusd i go for 12 pips at London s. and 5 pips New York s. (18-7 on fast pairs like gbpjpy) What level of tp are you using on diagonal breaks?

Maybe we should go for 20 pips, or still more, i know not all days are like today, but take a look at gbpusd chart:

(orange: horizontal breaks, blue: diagonal breaks)

backtesting with diferent tp and sl:

-tp at 5 pips, sl at psar: 4 wins 1 lose= +3pips

-tp at 10 pips, sl at psar: 23pips

-20 (-spread) pips tp and 20(+spread) pips sl=+50pips

-using psar as a tp and stop lose, going for 1:1 risk reward ratio: +67 pips

Thats just 1 day and on a strong trend market, so thats only an exemple. In a range market the 5 pips tp will stay on profit, while others will get huge losses… That needs a strict backtest.

@PIP_CHASER

Does the swing zz indicator repaint? Just wondering if anyelse noticed.

yes, it repaint, but that’s not important, you should use the last CONFIRMED* dots, so there is not repaint issues.
*A dot is confirmed when an opposite dot appears.

[christinaa]

Hi all I will be now trading the 1 hour charts also going forward. I have had some great results over the past 2 weeks on a demo and i draw the trendlines within 5-10 minutes every night and then just monitor them redraw them in the morning and then repeat. I literally spend 1 minute on each chart and I have 5-7 charts open on the 1 hour time frame. Im using the trend-line break EA to enter the trades and manage the SL. This is allot less stressful and more profitable for me. This strategy work on all time frames, now the only question is what type of trader do you want to be? Scalper/ Intraday / Swing etc.

thanks

hey Blizard ok moving forward. So we’re now just focusing on trend line breaks on the 1 hour time frame. can you please share all the pairs you are using? and its ZZ 3 isnt it

thanks

[christinaa]

hi, you use only ZZ4 right, 5min, and you dont do fibs you just do trend line breaks and horizontal breaks. hows your trades coming along? and what is your sl? i know your tp but what about your SL?

thank you

[alphaace1]

hi blizzard hope the webinars continue so we can have input on live trades

[alphaace1]

@paw3000

on m1 i go for 3-7 pips, with stop lose at -10 or at the previous dot, like blizard original system.
on m5 i go for 5-20 pips depend of the sesion and the pair im trading, and sl at 10/30pips or at previous dot if it is between this sl lvls. However i use to close it before if i saw an oposite breakout at min 1.
on 15 min im looking for a 161,8 fibo lvl between 20-50 pips and i put the tp 5 pips above and the sl at the same distance than tp.
trading oil i use the 161,8 fibo retracement or expansion lvl.

thats normal, everyone trade with the settings wich they feel comfortable. Thats what make this system profitable, that it is easily customisable to trader personality. However i agree with you, that can be truly confusing for new trades who are not able to spend several hours reading the previous 104 pages, and, at this point, a general and clear rules are a must. We need rules for the tp and sl too, wich i think that they are the weak spot of the current strategy. Im not sure if blizard use a 161.8 tp lvl or an arbitrage tp, and if he’s using the psar as stop lose or the previous dot.

Why not 7,5? ^^. On eurusd i go for 12 pips at London s. and 5 pips New York s. (18-7 on fast pairs like gbpjpy) What level of tp are you using on diagonal breaks?

Maybe we should go for 20 pips, or still more, i know not all days are like today, but take a look at gbpusd chart:

(orange: horizontal breaks, blue: diagonal breaks)

backtesting with diferent tp and sl:

-tp at 5 pips, sl at psar: 4 wins 1 lose= +3pips

-tp at 10 pips, sl at psar: 23pips

-20 (-spread) pips tp and 20(+spread) pips sl=+50pips

-using psar as a tp and stop lose, going for 1:1 risk reward ratio: +67 pips

Thats just 1 day and on a strong trend market, so thats only an exemple. In a range market the 5 pips tp will stay on profit, while others will get huge losses… That needs a strict backtest.

yes, it repaint, but that’s not important, you should use the last CONFIRMED* dots, so there is not repaint issues.
*A dot is confirmed when an opposite dot appears.

hi there paw3000 hanks for replying looks interesting going to have a look into it

[christinaa]

hi there
how do you trade your bollinger band and fractal system
the fracts re paint
thanks

[sandybeach]

Why not 7,5? ^^. On eurusd i go for 12 pips at London s. and 5 pips New York s. (18-7 on fast pairs like gbpjpy) What level of tp are you using on diagonal breaks?

I tend to go for 5 pips, but i can get more on the horizontal breaks, just seems alot more movement on those.

hi, you use only ZZ4 right, 5min, and you dont do fibs you just do trend line breaks and horizontal breaks. hows your trades coming along? and what is your sl? i know your tp but what about your SL? thank you

I use the 5min chart, but just trend lines, i should use fibs, to increase accuracy, but i find it fine how it is, but i do recommend to use Fibs for better accuracy.

My SL is the same as Paw3000, it is the last dot or 10 pips from the sale price as a minimum.

Trades this week is not too bad, last week was awful with the greek elections, so an interesting learning curve for me. This system does work, i just need to improve myself if that makes sense

[christinaa]

ok so 10 pips minimum SL or the last dot. are you trading tonight? and you still use ZZ4?

[goodpunk6]

Had to use my broker’s platform for Q (august) crude so no MT4. I like to use a couple of moving averages for confirmation. Here’s today’s big break.

[goodpunk6]

Another one