Follow The Bouncing Pip - page 250
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Hi,
Just came across this thread today . I am still reading the posts, but recent ones seem to be less enthousiastic. Is the system still working? I know some traders don't like using repainting indicators because of big potential drawbacks. I am looking for a steady income from Forex and thought this might be the system I need. Is the first post still valid?
Of course I will get through the whole thread, but I would appreciate comments from traders who already used the system for a while.
Thanks and regards.
Chamane
I need some help to understand exactly how to trade this system. I have enclosed a picture showing the 3 timeframes suggested in post#1. They all include the 2 zigzag and the Money Flow indicators and I added Stochastic and Laquerre as suggested by members.
OK ZigZag repaints, but the other indicators show where to enter trades (circles in the pic) except maybe for Money Flow in the 1 hr and 4hr charts.
So how do you manage those signals. Was it a good time to enter a trade (where the circles are)? If I look at the 4 hr chart it doesn't look like it because price retraced shortly after the arrow and continued long, but in shorter timeframes we have more than 250 pips between the repainted arrow and its next swing low. Also zigzag line continued long instead of reversing for a short direction in all 3 timeframes.
And what do you look at first: 30 min chart or 4hr chart? If you look at 30 min and wait for a signal in the 4hr, you could be then 8 candles later in the 30 min?
How to enter a trade? Would a trailing buy stop (or sell stop) be a good idea?
I am a bit confused. Thanks for helping me.
Chamane
Maybe this indicator can help you. I think so.
Fantastic
finally i find who talking about moving between timeframs to confirme the signal .
i've an idea & question ..
The idea : We can use ADX crossing to confirm the signal also and it's better than MFI .
The question : are you sure that the zigzag signal remain constant and never repaint after the confirmation ??
Yes, +dot is good.
Yes, +dot is good.
This indicator is just one of the SilverTrend indies
Yes, I know, but it does not repaint, so in H4 it is good, as You see.
Good confirmation to ZZPointer and NonlagZZ, and DT-ZZ-Lauer.
Good paket, if somebody plays in H4 chart. I don`t do that.
Maybe good paket to make EA?
About adding my skype name
Forex11, I PMed you my skype name, please add me to your contact list in skype, to discuss some aspects alive
added
Forex11, I PMed you my skype name, please add me to your contact list in skype, to discuss some aspects alive
i added you to my list.
bigbear, hello!--rswamy4449
bigbear& forex11: hello!
Since morning, in all my 6 charts (except usdjpy)the alert signal (green arrow) is continuosly shifting to the last bar.
Could you please explain me this phenomenon.
Iam here with attaching one of my chart image (on this chart,this arrow is there since morning).
With regards,
Sincerely,
rswamy4449
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I got a 50 pip trade on the gbp/usd today. I closed it out because the market seems to be undicided on which way it wants to go right now. I might of got out premature, but I can at least say I have 1 for 1 so far this week.
I was going to get in the eur/usd but I feel unassure about it right now.
Also I did get in the usd/chf trade. we will see where it will go. But the market is going sideways right now so it is hard to tell anything as of yet.