Follow The Bouncing Pip - page 102
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Observation
I've been looking at various indicators that are being mentioned here as possible candidates to use for entering and exiting these trades. It's my observation only but from what I can tell most all these overlap each other in their sensitivity in detecting subtle variances in price.
For the most part what I am seeing is the ability to enter early which is nice but with that luxury comes the flip side that it also is too sensitive on exits. I have a gut feeling that taking the original idea but adding a closed candle condition and taking the high/low of the current bar plus "X" pips i.e. 30 makes the best sense.
There are some arrows that I simply wouldn't take for entry when looking visually at the angle of the price movement in my case the heiken ashi smoothed indicator. There is a bit of subjectivity in this method that requires strict attention to weakening momentum as a precursor to trend change.
Don
Absolutely
I've been looking at various indicators that are being mentioned here as possible candidates to use for entering and exiting these trades. It's my observation only but from what I can tell most all these overlap each other in their sensitivity in detecting subtle variances in price.
For the most part what I am seeing is the ability to enter early which is nice but with that luxury comes the flip side that it also is too sensitive on exits. I have a gut feeling that taking the original idea but adding a closed candle condition and taking the high/low of the current bar plus "X" pips i.e. 30 makes the best sense.
There are some arrows that I simply wouldn't take for entry when looking visually at the angle of the price movement in my case the heiken ashi smoothed indicator. There is a bit of subjectivity in this method that requires strict attention to weakening momentum as a precursor to trend change.
DonYou are absolutely right.
But that is the nature of an EA. It's a robot only and will NEVER EVER replace the experience, guts or other influences which separates the traders. And nobody says that you can not close a trade manually which has been opened by an EA. The problem is that there are many peoples out there who just doesn't have the time to stay in front of their charts. And these are the ones using EAs mainly. But we should not forget that any EA should only be a helper in your manual trading for special cases and should always be monitored closely. After all it's with our money this robot is playing with.
The hardest part is always the exits. To find an entry (for any pair on any timeframe) is relatively easy... the exit is the secret.
I think I found the Holy Grail accidentally but I am not going to share..hehe just kidding.
But seriously do any of you see how silly this is becoming?
Is there any integrity here?
ES
P.S. If you sell your soul to me and tell me I am great, I might PM to you my secret.
I think I found the Holy Grail accidentally but I am not going to share..hehe just kidding.
But seriously do any of you see how silly this is becoming?
Is there any integrity here?
ES
P.S. If you sell your soul to me and tell me I am great, I might PM to you my secret.Whom you are treating as silly here? Or who has no integrity?
Just to make sure!
Here is another
Here is picture of another indicator which picks top/bottom and faster than zigzag pointer in 60 min chart, second indicator in bottom to filter when not to trade plus faster custom Ma than nonlagMa.
I also put zigzag pointer, QQE and nonlagMa to compare with 1st picture in 60 min chart.
ElectricSavant
ElectricSavant,
I think i understand what you want to say.
Steinitz,
What you suggest there i tested some time ago when mpower asked for an EA which used Heineken Ashi. But didn't worked for me so well. So I belived that a fitler was needed, problem solved partialy now.
Anyway a lot of you use the word "discretion", why can't any of you explain it in words like. "If that do that, if that do the other thing....", after all, we work so. Mabe i'm speaking as an engineer but i believe that everything you do by hand can be done by EA the same or even better because the EA doesn't need to sleep
.
Thanks, Zmax
Last pic
OK, my last picture...after that I won't bother you anymore.
But these 2 trades where a perfect example of a nice and smooth winner and a hard earned break-even with no real way to find an exit.
Remember I entered at 232.37 at the open of the 11th candle after the arrow.
After +100 I had 2 possibilities: close with profit or move my SL to +1. Guess what I did?
Anyway...still no loss though...even with a twisted pricemovement like this!
Have fun guys...nice week-end!
Same indicator
Picked buy call GBP/USD live in 60 min chart, now. Let see if it works
OK, my last picture...after that I won't bother you anymore.
But these 2 trades where a perfect example of a nice and smooth winner and a hard earned break-even with no real way to find an exit.
Remember I entered at 232.37 at the open of the 11th candle after the arrow.
After +100 I had 2 possibilities: close with profit or move my SL to +1. Guess what I did?
Anyway...still no loss though...even with a twisted pricemovement like this!
Have fun guys...nice week-end!When live trading S1 would be a good target to either close half the position and trail the rest or close the entire position.
My version of the EA would have exited when the green arrow appeared on the line.
Another exit woulld be the QQE cross or nonlagdot.
Robert
Here are the backtest results.
I am sleepy so do not have time right now to explain the results. If you study the spreadsheet you will better understand what the different ideas used do to the profit line.
Zip file contains spreadsheet.
Robert