And finally…Here is B3, the last screenshot of this example…This is on the One minute chart (M1)…Oooooh Boy…Am I going to get rich!!!
So, here is how I think it works…Price action moves between extremes…It can be compared to an elastic band…On the extreme end the band is expanded to the utmost…From there onwards it has no other option than to contract in order to compensate for the ‘deviation’…And thus, a state of equilibrium is reached…The ‘trick of the trade’ is to establish where the two extreme variables in the equation lie, which will be the point of contradiction…That will then serve as the ‘point of reference’ from where the new anticipated ‘vector’ can be established…And that is what the parameters of the two indicators accommodate for. Have a look at my own system on the left compared to yours and see how it plays out…‘C’, I think you’re a genious and your rock!..Either you have it, or you don’t…
What are your settings for zig zag and stochastics???
Iyun was only a member here for only five days in the middle of March, which suggests that s/he is long gone. This thread’s OP, CERTAINTY, was banned. So I wouldn’t expect too much in the way of constructive answers from this thread.
ST
OP’s logic with this system seems spot on imo. Will test this out later tonight, seems viable.
Forexnewbie1
I admire your enthusiasm, it reminds me of me a few years ago, but for a week, drop all those indicators, bright ideas, and mega theories, and just look at that chart, read Candlestick Trading for Dummies.
The more you rush, the longer it will take you to become profitable, it sounds cliche, but as far as forex is concerned, it’s truth, you sort of can’t make it come to you.
this thread sums up all that can go wrong with newbies expectation, thoughts of the market, ideas of how to profit from the market, and finally, the thickness that prevents them from taking advice on the obvious from those who already walked down that path, some who walked it a few times.
Than they silently just give up and move on to the next thing that they believe is going to make them their millions.
I realised something the other day. When I read articles of people who made a name for themselves doing something always glorifies what they did and how they went from that to do something bigger. All this is summed up on a one page article at best. What is always glaringly omitted on a regular basis is what these people went through when they started taking their babysteps towards where they are today. The struggle, the pain, the hours, the losses, the disappointment, the sheer number of times they really felt thats it I am giving up! moments etc etc.
That was the real struggle. That would be what that differentiates whether you have it in you to achieve what you set out to, if you have the qualities in you that says you deserve to get what you want. That is what sets you apart from the 95% of the rest who just live life as a dream and keep dreaming of how it could be or could have been until the end.
I hope this sobers up those who come in with boundless enthusiasm and energy, thinking that they have discovered the holy grail.
There aint any. Its hard work and when you think it cannot get any harder than this, it just becomes alot harder. And it keeps going on like that until you can control your emotions and see things with clarity. It one day becomes clearer than it has ever been, when we finally control ourselves and only trade what we know for sure and not keep chasing the market left right, centre, up, down and in between.
On that day, you will see how the market works.
Until than, threads like this will keep propping up and a few other newbies who share the same state as the OP will join in the chorus thinking that they are on to something and the more senior members shooting it down and finally the thread dying the all familiar death.
Wow i miss certainty, the quality of entertainment threads was high. the actual trading content low. But still i got my yucks.
I am Certainty! Back with a new Alias.
JK.
Was researching about ZZ Sefamors and found this thread.
Are ZZ Sefamors and ZigZag indicators dependent on the same algorithm?
If anyone has time; could they just explain to me the basic of these indicators?
What do they do : Draw trednlines and display points across three different price waves (of different sizes of course)?
DeadTrade, I think saying a Zigzag indicator comes with an alogarithm is giving that indicator too much credit I think.
It should not be changing its patterns or anchor points if it does have half of an allogarithm in there somewhere.
Im afraid zigzag indicator is one that looks good on hindsight and its something that should never be touched by a newbie who wants to trade blindly.
I have yet to come across a trader who is using this indicator profitably.
I don’t get it.
ZigZag does not have any algorithm?
Im afraid zigzag indicator is one that looks good on hindsight and its something that should never be touched by a newbie who wants to trade blindly.
What do you mean by looks good on hindsight? If you’re saying it repaints it’s true.
I don’t know exactly what you mean by trading blindly. Do you mean trading without using discretion?
And which indicators do you suggest to newbies who want to trade blindly?
(There might be humor in you post but I’m a Scandi your humor was lost on me.)
I have yet to come across a trader who is using this indicator profitably.
You should check out ForexFactory. A bunch of guys are trading using PA + ZZ systems; and apparently quite profitably. One such system is called freebie method. It relies solely on ZZ and Candles. The system’s originator’s name is Dredding82. A guy named Udine has developed another system that is more or less dependent on ZZ. These guys are respected members of ForexFactory; same as FX-Men Honorary member here. They suggested that I research the ZZ indicators before I trade their system.
I want to understand how their system actually works.
Just answering your post Nikita.
I’m not here to advertise any systems, forums or indicators. All I am interested in is how does ZZ indicators work.
No offence taken DreadTrader. I understand you are not advertising either.
Its just Im pointing out what I experienced through my personal experience.
The statement I made still stands. I have yet to come across a trader who successfully incorporated ZZ in their system. Its good that you have seen someone use the system and say its workable. I have never. Thats all I meant.
I agree. Trading without discretion is pointless for newbies.
I still want to know what ZZ is all about and would be grateful if someone filled me in.
Since you mentioned it, I think it would be impossible to follow another traders methods a 100%.
Our own psychological shades will colour the methods. The basics might be the same, the concept too, but the entries will differ a little here and there.
That is why all traders who follow S&R and candle stick methods look like they are trading the same thing. Its the same concept after all.
2nd point that you raised about taking bigger risks. Well I use to. I have once or twice hit 25% on one entry. But a combination of impatience, rushing into an entry, not keeping my hands away when I am not 100% sure of market direction and the bounce areas etc caused me to have a loosing streak sometime back.
I than realised that the money I lost during that period was not the most painful or difficult thing. It was the psychological hit that I took. It came to a point I was cutting trades left right and centre. I was cutting off a trade that had not hit SL thinking I made a mistake. I was cutting a trade with as little as 10 or 15 pips profit when it was a trade that I would have held for a 100 or more before that.
Needless to say I went through my biggest struggle in FX at that period in time. I was so jittery that just entering a trade brought forth a phobia. I was so scared to take another loss. And I ended up loosing a little here and there and that added to a bigger loss.
It was a few weeks before I gained back some of my confidence. The initial period involved me putting in a SL and walking away. I had to build back myself from a very low place.
It has got much better now but it has not been back where it was before I went through that experience. I think maybe its a good thing it never gets there cause maybe at that level the confidence borders on arrogance.
The biggest I have gone in after that is 10%.
So I guess trading really big risks come with more than one negatives.
If its working for you, than keep doing it as that is what trading is about. But just keep in mind the sort of unexpected issues that it might bring.
I hope that experience will teach me more and more and I can go back to the level of comfort I was with trading previously.
At the moment, I am learning to really really control myself and not jump in every day. I am also learning to get rid of the feeling of taking whats there now thinking its better than a loss or nothing at all. One of the other thing that happened when I got into psychological issues.
The adage that staying out of the market most of the time is akin to making a profit is something I had to learn the hard way I guess.
Anyway, two things to end this post.
If its working for you, dont try to fix it.
Secondly good luck in trying to figure out how to use the ZZ indicator.
p/s Yes I am a woman.
I don’t use Zigzag indicator; I believe it is a guessing indicator because it repaints. But, since you insist, here is MQL4 search.
MQL4: search
I added pictures so you can see it does repaints.
If its working for you, don’t try to fix it.
I agree.
Secondly good luck in trying to figure out how to use the ZZ indicator.
I’m not trying to figure out how to use the ZZ.
I’m trying to figure out how it works. They are very different things.
Furthermore regarding your previous post; even though I agree with you that ZZ indicator’s signals can be easily misunderstood by a newbie; that does not mean I should stay away from it. In fact I should learn to interpret it correctly.
And even though you’re much more experienced I don’t think I should take your word on it that it is a poor indicator. All I want to know is [I]how[/I] it works and if [I]I[/I] can use it more profitably.
@Drick: Thanks for the link.
hi friends
i am new here please anyone can provide me with set up of zigzg and stoch
I will send email to this guy to ask him about real set up
It isn’t so bad to use ZigZags as a filter or confirmation. I myself have used ZigZags to identify harmonic patterns with some success. But that’s not to say I used ZigZags solely.
I JUZ WONDER, WHATS THE SETUP OF STOHASTIC DO U USE?.. 1 MORE. DO U USE N STANDARD STOHASTIC OR STOHASTIC OSCILLATOR?.. do u have an email coz i need to discuss with you bout this zig zag n stohastic…tq