terry, good news and thanks for the contribution! it is certain that db/tt has been treating us better lately. hopefully, august was the bottom of the drawdown. judgment calls are still a major part of success here. you are absolutely correct that those little dips pulling us into a trade only to quickly reverse are to be watched. this is one place where an experienced trader will know to cut those losses. just haven’t figured out how to explain that to a coder.
this is not the best method for someone unable to keep an eye on the markets. i would like to say the ea’s could manage the trade in our absense, but just don’t have that confidence yet and there are times when there is no substitute for an experienced trader making a decision. you might consider the “daybreak” thread. it was designed as a “set and forget” method and a spreadsheet programmer has recently run some positive tests on the method. i am presently researching another “set and forget” method, but it will probably be similar to “daybreak.” if i pans out, i will probably just add it to the “daybreak” thread as an alternative.
from post above, “…trading the aud/usd, gdp/usd, eur/yen”
see post 1 for a website provided by rpotor. has all the ea’s and some other good info.
Hi guy’s sorry for not replying sooner but life happens sometime. I think i jinxed myself with the last post the very next day i had a 140$ drawdown which happens i know i got that back today plus some.
Ok now with some practical trading behind me with the ea a few things you need to be aware of, first before it is time for the ea to place orders, for me it’s 11pm oanda platform time, make sure your charts are on daily time frame or the ea will place orders incorrectly. Also the ea DOES NOT adjust your stop losses after the first order hit’s TP so you’ll need to adjust them manually.
Also you really need to keep an eye on things to ADJUST STOP LOSSES ,CLOSE UGLY TRADES ETC. I wish rptor could spare some time to help with the some of this, but the ea is functional as is but NOT TO SET AND FORGET ok. it is excellent for placing all those buy and sell orders all at one time.and then you monitor your trades as you desire.
I am trading gbp/usd eur/yen aud/usd and gbp/yen the aud is very active but will bite you real fast if your not careful.
Anyway ea or not pipwoof has a great system here do not toss this idea just because an ea is a little quirky.
Shoot i remember the days of weekly charts in the mail and drawing trendlines , s/r by HAND yeah i’m old
Again PIPWOOF thank you for all your hard work and thank you for sharing this with us.
Terry
Whoaa… Hello there… Long time no see u my first mentor (Pipwoof), Since last time i post my progress. And Aawild, surely pipwoof EA is great, when the condition meet of course, like healthy fund, and his (Pipwoof) style. Maybe his style similar to u. But for me, i dont think so… I prefer learn from Pipwoof mindset. I use Pipwoof mindset of exit manually. I reduce it for different time frame, period time. Due to my small fund, i’d prefer to reduce Pipwoof tripple thread exit by only using two. For risking 1% of my fund at one trade, sure divided by three entry point at the same time on one trade will reduce greatly my lots… I must adjusted lots for 1% risk management. So for now, i only use two, not three.
And pipwoof, as u re my first mentor, i wanna report my performance progress (1 month) to u (even still on demo):
- won percentage (around 80%)
- drawdown (0.12%)
- risk management 1.2%
- profit (10%)
- Still learn from school of pipsology (elementary class)
- Still learn from Dr.Pipslow class (from 2012 until jan 2010 posts)
And the best thing i got are… new several mentor Pipwoof… - i meet pro trader who teach me fibo
- i meet pro trader who teach me fibo with elliot wave
- i meet pro trader who teach me combine technical with fundamental aspect
- i meet pro trader who teach me swing trade, simple but very effective…
Thats all my progress now… Someday, i will be like u… But maybe with different form 
Hey all,
Been really busy as of late, so i fell behind…way behind. So, i’m catching up. So far I have caught up the EUR/USD to date. From July 30th through today this pair has a net of +1856.4 pips! not bad considering the draw-down we saw in Aug.
Pipwoof, good to see you are still at it. let me know how your results compare. More to follow…
wirabayu, so good to hear that you have opened your education to lots of sources. by looking at different approaches, you will learn to distinguish the good, the bad, and the ugly. it sounds like you are shaping a personal strategy that works for you. please advise us on the criteria you are choosing and let us know your results. best wishes for great trading!
Dear Pipwoof,
i’m very happy on ur appreciate. Still lack of experience Pipwoof. I will work very hard and exert my self to the limit. Coz i already found my way to reach my ultimate dream…
And thank u for ur concern to my progress. Now I wanna explain how I choose my criteria:
- I cant be full trader, coz I have job that must I fulfill first. So, I must have concerned to pick and then customize trading plan that will fit on these situation.
- Time frame
My trading type is swing trade, but I only have small money. So, I force my self to be daytrader with adjusting my trading plan again. - I got inspired from any broker that provided signal to their users with any pairs. They provide signal entry, plus with exit. (My “baby” brain think that they like God who knows the future, haha). Then I did a lot of researched for these answer.
- Trait
I have trait, that come from my family and environment, which are more patient than usual people. So, my emotion can take only <2% profit each month which severe damage for ordinary phsycological. (But actually I had more percentage from my very hard effort). - Last but not least, I have my best concentration when quiet condition meet.
Hmm… I think that’s enough. I wanna learn more and more… And someday I will be “one of” profitable trader in the world ^.^
Thank u Pipwoof :21:
hi mr pipwoof.
i just want to ask… do i have to place 6 stop orders per pair unknowingly that the orders can trigger either the buy stop or the sell stop? thank you very much
that’s correct. three positions, each with an entry stop and a stop loss. done manually, this can be very tedious. the ea’s are a great advantage here. use rpotor’s on daily bars just after the start of the new day. it will set entry stops and initial stop losses automatically.
i am behind myself, but good to hear you are getting some good numbers. i have not been following e/u, but have had good results with a/u, e/j, and g/j. until/unless we can get a grip on the discretionary part of these trades, i am reluctant to tell anyone they could do well with the method.
hi again mr pipwoof. i had positive results as well with your system. what are the pairs that you are trading with lately that would suggest a positive outcome. thanks. :21:
from post above, “…have had good results with a/u, e/j, and g/j.” others may be trading different pairs and you would just have to look back a few pages to see. one important consideration: no one remains married to the initial stop-loss idea, i.e., waiting for a nearest quarter greater than 25 to cut losses. it seems most of us are having better results just keeping an eye on the price movement. if it looks like it is starting to go the wrong way, it probably is. close and save your capital for another trade. good luck!
Read more: 301 Moved Permanently
Hey,
I’m new here, but now read most of this thread! I’ve got rpotor’s 3.22 running and can also see how it’s not readjusting SL’s.
Pipwoof, well done on what looks like a great system. I’m going to have a play with it and see how it goes. rpotor and dinesh, awesome work on the EA’s.
Does anyone know why they might not be readjusting SL’s, I’m going to start trying to do some digging, but I’m starting from utter scratch.
Cheers,
Matt
Good Day,
I am new to Forex i just want to know If i open an entry on Tuesday using the candle from the Monday result should i wait for it to close. Or should i close the entry done even negative or positive profit so i can trade for the next day candle?
Thanks
Hello pipwoof… How do u do now??
Last time when i wanna deposit usin wire transfer on my bank, i got troubled on there. But i still understand their condition. So for now, i must delay again my first real acc on fx. Seems like God still want me learn more…
Now the report for my progress:
-
When i learn bout [B]cross currency pairs[/B], i got new mentor again. He is exp and profitable too like u, but kinda master of cross currency. He taught me how to analyse and then decided which pairs are the stronger on the other one. He even taught me live, and made some leveling on each pair. Sounds complicated first to me, but i adapted with his lesson. Now, i can judge which one is best to trade when havin two or three pairs opportunity at the same time on cross currencies. (I do like u someday, usin multiple pair when my money already enough to do that).
-
Yesterday i just finished all quizes on babypips [B]school of pipsology[/B]. I’m really happy bout that. But now i must set my new goal. Between learn more bout news aspect or mastering my own system. I need ur suggest as my first mentor here pipwoof
Oh yeah, last week i saw nzd had its peak on resistance line since march 12 on nzdjpy and august 12 on nzdchf. As the result, i got lot of pips on that pairs. With ur method will do have lot of pip i think ^_^.
Now, i look on gbpchf which form elliot wave on D1 TF… so far still positive result
Just curious, what happened here ? Seems like everything was going very well and all the discussions stopped all of a sudden. Something went terribly wrong ? Anything us new comers should know about ? Or has everyone moved to a new thread ? Someone, please let me know… I’m very interested in knowing how it turned out for y’all… Thank you…
I stopped trading this system, for me it wasn’t profitable anymore; I made some profits in august and septembre last year but than it stopped being constantly profitable for me.
Cheers
Thanks for the prompt reply, mate.
PipWoof, if you’re still visiting this forum, I’d love to hear from you as well. I’d like to know where it all went sour, if at all it did. From what I read, your strategy sounds very simple, yet very powerful. Or maybe there’s something that you guys have seen, that I haven’t seen yet. Your inputs will be extremely valuable for me… Thank you…