Follow The Bouncing Pip - page 14

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bigbear3391:
Hey Chris,

Im sorry about that. I guess I didnt notice that.

OK in a nut shell this is MY MM:

Note*

I am not yelling, I am just writing it in all caps so you will notice it better.

I PLACE MY STOP BEHIND THE ARROW, ABOVE/BELOW THE HIGH/LOW OF THE CANDLE WITH THE ARROW.

MY NUMBERS ARE NO MORE THAN 30 ON THE EUR/JPY 1HR & 60 ON THE GBP/JPY 4 HR.

Thats it. simple. Heres why:

The arrow will go away if the last high/low is broken. So that acts as my stop. The earlier you get in the smaller your stop can be.

I have had stops as low 10 on the GBP/JPY & still hit triple digits gains.

It happens.

Hope this helps.

Bear-
ly_bon:
just wondering can it be use in daily? what is your recomendation about the TP and SL in daily... thx

Hey ly_bon,

With current settings it can be used as low as 1 hr & as high as Daily without warping the signal.

When it comes to SL & TP. Use the above rules.

But so you have an idea on a daily with the pairs I use I WOULD USE no more than 70 SL on E/J & no more than 150 on G/J.

TPs are the next bounce or next signal or according to your MM rules. Daily TPs range that I WOULD USE :

E/J = 210

G/J = 450

Hope that helps.

Bear-

Hope That Helps,

Bear-

 
Poocher:
Use an entry indicator on the period your using or enter on a lesser period.

So if your entering on 1 hour use a 1 hour entry signal or a 15 minute. I use a 15 minute signal from fx_snipers_ergodic_cci_trigger.mq4

...and on 4 hour charts I enter using 1 hour signals from the indicator.

Hey Poocher,

Thats not exactly how the original rules work but if it works for you it works for me!!!!

Bear-

 
iinzall:
first time i don't pay attention on this thread, but after i read the first post, i am getting interested in very much, cause this trading system use zigzag as the main indicator.

i've been looking for a thread like this for several times. but couldn't find it...

taking the positive side of zigzag as the main indicator in a trading technique...

i have opened a thread in other forum about this zigzag indicator, actually i want to find the good side of this indi in trading, not only for predicting elliot wave and fibo, but how to enter the trade with this indi...

but, there is no one have good experince and good result in using this indi as the main indicator...then the thread doesn't continue...

Finally i guess find it now in this thread, let's make it a better my friend, taking the good side of this indi...

Thanks Bear for sharing this...

BTW, How about trade this in 1M chart, what is the best setting...do you have experience in this?

Best Regards,

IIN

Hey iinzall,

Thanks for the kind words. All you guyz rock 2. Thank for making me feel welcome.

About trading 1min, I dont recommend trading anything less than 4 hr. You will have many false signals.

But as far as FTC is concerned 1 hour is the BEAR minimum (pun intended) & daily is the max.

Hope that helps,

Bear-

 

heres the template dont know why they didnt get in with the above.

and of course I forgot the most important part the charts.

hang on Ill get the charts

after a dozen trys I finally got it

notice the RSI 2 and the arrows

RSI 2 can give you problems after news and a strong trend is in place at other times it more reliable

Files:
ftc_1hr.tpl  3 kb
1_4.gif  12 kb
2_4.gif  13 kb
 
jtre:
Today I had some losses.

+100 gbp/usd

-40 pips on eur/jpy

-30 usd/jpy

-20 gbp/jpy

I am currently in some trades right now:

Locked +26 pips so far eur/jpy pair

Locked +10 pips so far usd/jpy

Hey jtre,

Win some, lose some.

What matters is the your monthly results.

You are doing great

Keep it up!!!!

Bear-

 
lepiricus:
If there are many of us trying this simple yet powerful method maybe we should start a skype group?

Hey lepiricus,

That is something to consider.

Thanks for that.

Bear-

 
bigbear3391:
Hey Poocher,

Thats not exactly how the original rules work but if it works for you it works for me!!!!

Bear-

Don't let me get too far off track with your nice system. I'm enthusiastic about using it so was kind of brainstorming out loud. You've presented such a well thought out approach I promise I don't want to mess it up. Thanks Bear!!!

...now to go look at Droesparky's cool posts with indicators and templates and some kind of entry technique.

 
bigbear3391:
Hey lepiricus,

That is something to consider.

Thanks for that.

Bear-

I still haven't figured out how to do that.

 
Poocher:
Don't let me get too far off track with your nice system. I'm enthusiastic about using it so was kind of brainstorming out loud. You've presented such a well thought out approach I promise I don't want to mess it up. Thanks Bear!!! ...now to go look at Droesparky's cool posts with indicators and templates and some kind of entry technique.

Hey Poocher,

No problem man. I understand. When Forex11 & I finished with this we couldnt sleep for a week!!!!

I want all of you to use this as a base. Trade it how you want to. Use my way or your way. It does not matter. I would advise that you dont make it to complicated.

As traders we tend to over analyze everything. Just try to make it simple & fun.

K.I.S.S. (keep it simple stupid)

Bear-

 

Please dont misunderstand my post. Im just saying you can use the extra indicators for confirmation. Its like locking the front door and then giving the knob a try to confirm the door is locked.

bigbear and others are doing great without the extra stuff.

so Bear down on this system by rereading the first post, then type it out, then write it down by hand, do what ever it takes.

Its a fun and with the 4hr chart you dont have to get in a hurry to make a trade just wait, trade and collect the pips.

this is good stuff bigbear

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