Outside The Box????

[bunglungchingdong]

Ok thanks for explaining, im talking about the indicator daily fibo protection , based on this system , it has 6 lines:hi entry, hi , hi Sl , lo Sl , lo , lo entry.
So we place a buy at hi entry with the hi sl and a sell at lo entry with the lo sl correct?
Im sorry maybe im tired but im reading every single word and im not seeing which direction your saying to go from these points.

[mcmep11]

bung, that is the way that I understand it.

[mcmep11]

I tested a more conservative approach on the GBPJPY (if such a thing could exist) only tested feb and mar of 2007 with the 6/2/2 MM.

Ive already lost plenty on wonder systems, and am looking for something that will allow me to realize slow small and steady. I follow rules with the following mods:
10 lots, and set a tp of 20 on the first 6.(still not sure exactly where I want the stop on this, I may just end up going with the fibo stop as suggested, but add the TP)

the next 2 SL is at break even,

and the remaining 2 will use the SL as mentioned in the guideline or end of week. the first 6 took profit roughly 9 of 10 times. the next two took profit on the major fast runs,(only 2 trades)

and the remaining 2 took profit on about 40% of the trades but the profits were large . So earnings broke down as follows:
6 -- +160 pips
2 -- +1600 pips
2 -- +1300 pips

now note that those last 4 lots were mostly from 1 week when that pair took a major nose dive. if it had been a normal week, we would probably be looking at only 1-200 pips on those positions as well.
so if you are doing mini lots at 10 cents a pip usd, then you would have made roughly $686, or add a zero if it is a dollar a pip



now If I do my back testing correctly, for this time period you would have a gain of roughly 1300 -1500 pips, if following the rules exactly which is great, but I like the security of some locked in profit along the way. Any and all comments are welcome, please offer critique and suggestions. I am still just learning this like all the rest

[bunglungchingdong]

Ive already lost plenty on wonder systems, and am looking for something that will allow me to realize slow small and steady. I follow rules with the following mods:
10 lots, and set a tp of 20 on the first 6.(still not sure exactly where I want the stop on this, I may just end up going with the fibo stop as suggested, but add the TP)


10lots? you mean 10 buy/sell limits or 10 buy/sell stops? or orders? 10 orders?yes?
or 10 lots of 1 lot

Isnt it that you go short from hi entry and long from lo entry, isnt this the point of the whole thing to exploit the whipsaw and stopping out?Thats how it sounds from the authors last reply to me.
Maybe scorpian should give me the ea so I can watch it and see what it does to understand because it seems I just cant grasp this

[mcmep11]

if you dont understand the system then completely ignore my post. it is strictly money managment.

but to answer your question 10 lots of 1 lot.

I did my testing going long from a high entry, and short from a low entry. My thought for doing it this way is your are getting into an identified trend that is fairly strong.


I would also love to get ahold of the EA, but would rather only download it once than getting v1 today and v1.2 tomorrow and so on and so on.

[bunglungchingdong]

Originally Posted by mcmep11

if you dont understand the system then completely ignore my post. it is strictly money managment.

but to answer your question 10 lots of 1 lot.

I did my testing going long from a high entry, and short from a low entry. My thought for doing it this way is your are getting into an identified trend that is fairly strong.


I would also love to get ahold of the EA, but would rather only download it once than getting v1 today and v1.2 tomorrow and so on and so on.

Yeh look going long from hi entry and short from lo entry how does that take away the pull back to the stop, from the authors original statement that hes designed this system to avoid that.His reply to me he said to me turn it around.What I was saying was what you are so I assume he means the total opposite go short from hi and long from lo.
And 10 lots of 1 lot?All at the same price or at different prices?

[mcmep11]

on my order screen (metatrader 4) it has a place to put volume, I would put 10 there, or for a mini acount, I would put 1, then when its time to close out the 6, I open the close order screen and change the number in the volume to what ever I need to close, either 2 or 6 or .20 or .60 on a mini account.

as far as hi entry and low entry, I guess Ill have to read the instructions again. I am trading as is shown in post # 17. I need a picture, I always understand better with a picture,

Stella, if you get a moment would could you please post a picture with the indicator lines drawn, and some arrows that would indicate the ideal trade?


thanks

[tasse]

Originally Posted by thestellaman

Ok to the rules........this system/method is purley mechanical,as i did get a "bit" emotional(to say the least)when i first started trading,it is based on a weekly trading system/method, i know there are a few about....BUT this is mine .........anyway,i have posted a video to show you how to make your ENTRY and STOP LOSS levels via your "fibonacci retracment" tool (if you have any problems or dont understand the video,just ask)the next step is to take the HIGH and LOW from monday and use those levels as our base for our breakout levels(our fibonacci levels giving our true entry levels when applied) thats basically it we buy/sell with a break of our fibo levels.........................BUT......yes theres always a but........

Hi thestellaman

can you please tell me where can i find the video you said you posted?

Many Thanks
tasse

[mjchris]

so I have been very successful with this stategy, it is perfect for my style, the only weakness is that many of the entry points are when I am asleep. If I had a n EA that would buy on the close outside entry point, with an adjustable stoploss then I would manage it the rest of the time as if I were trading manually, that would be the perfect world for me.

[mjchris]

and where did everyone go?