My New Day Trading System-rate and test - page 23
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first, we knew that -40 SL for 1 lot is unavoidable --- even you put 2 to 3 hedge of opposite direction , -40 is still the reasonable loss (by research and personal statistics to arrive these number)
I only trade with 30M now, gave up 5M and 15M long time ago -- 1M is still too SUPERNATURAL to me
say in 30M chart, another inevitable thing : we won't know it is a true BREAK OUT of trend, until about 3 x 30M bar after the outbreak
luckily, we got indicator NOW to tell us it is ranging or TRENDY (not easy to find one, but it is in this forum, somehere)
so my backup1notch idea would be
say , we bet on outbreak
but in the RANGING market, ONE NOTCH back (i.e. depend on the ranging horizontally , price level x 2)
we set Limit Order on the SAME WRONG direction
in this way -- it could be QUITE neat
say, the false break out -- if false, so we get TRAP with that 1 lot open position
then it go back a bit, and within the RANGING for next few hours
but if it just become ranging again, we could have few lots (some are Limit order), all in the SAME DIRECTION as our 1st lot (it is wrong)
but the 1st wrong entry could BREAK EVEN on itself now
----
in simple words, we can ONLY GET BIG LOSS (this will be quite huge) , if the market are doing the BOW and ARROW, pulling back, for it TRENDY- in the direction that we won't expect -- this will be only REAL BIG LOSS
of course it it is TRENDY in the opposite direction, no matter how big is the loss, we have to CUT LOSS , of all position immediately
the BACK one notch, probably earn me 35 to 65 pips
while the market still RANGING, so, my 1 bet to 2 bets (note, all this Opened order are in the SAME DIRECTION) -- lost me less than the pips that I gain from my one notch back setup -- so , maybe I believe in STRATEGY again (if we use some WISE ones) -- but the most important thing is that , indicator , will tell the best statistical SUGGESTION while our BRAIN always teach us to be STUBBORN !! (i.e. our brain , our intended forex direction is NON-RELIABLE: NO STATISTICS to back up it CLAIMS -- intended direction)
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strategy-wise : we could be the cat who chase its own tail - and think that we finally can self-touched it one ultimate judgment day -- as most strategy, when test show a clear SIGN that it simply won't work i.e. pure strategy that try to avoid LOSS or try to B/E
P.S. any picture of the doggie ?
[ never use unknown free software, to -- clean up computer, speed up CPU , or tidy up your registry , they are malicious ]
I want the PocketV2.3 -- NOT to show the envelops
Hi,
I am not sure where the PocketV2.3 comes in as I don't remember doing a v2.3 but I am guessing you mean the last Brooky_Boll_PocketV1.1 that I posted.
If that is so and I understand your request correctly I have recoded it as Brooky_Boll_PocketV1.1.1 for you where the envelopes are not able to be shown. You can still elect whether or not you wish to see the mean line and star cross. Just turn them off if you don't want them. Chart attached.
The moderators are moving my posts around a bit and I am guessing they want me to put the indi's in a Brooky Indicators thread that they kindly started so you can pick the indi up from there. Here is thelink
I will absorb the rest of your comments later.
Cheers
Hi all,
Cy mentioned a few posts ago that he was trying Renko. I still have to have a good look at his proposition but in doing so I dusted off an indicator that I used myself when I was heavily into Renko.
I always found it hard to trade against normal fibs on Renko as they always seemed to be just off any candle. I made an auto Fib indi that moves the levels to the nearest high or low of the Renko or for that matter any range you want down to 1 pip for normal charts.
This could provide us with some stop loss and take profit targets when using Renko.
Again I have posted the indi in the Brooky indicators thread but will attach a chart here so you can see what I am talking about. There are some more example on the Brooky thread.
Cheers till later.
Hi all,
Cy mentioned a few posts ago that he was trying Renko. I still have to have a good look at his proposition but in doing so I dusted off an indicator that I used myself when I was heavily into Renko.
I always found it hard to trade against normal fibs on Renko as they always seemed to be just off any candle. I made an auto Fib indi that moves the levels to the nearest high or low of the Renko or for that matter any range you want down to 1 pip for normal charts.
This could provide us with some stop loss and take profit targets when using Renko.
Again I have posted the indi in the Brooky indicators thread but will attach a chart here so you can see what I am talking about. There are some more example on the Brooky thread.
Cheers till later.Wow...this looks awesome Brookey, thank you. At first glance it looks like the Renko respects the levels really well.
The Williams2000 is still working well with Renko but I should point out that some trades take quite a while to complete. I have also seen a case where one trade would have yielded over 300 pips. I think the total time would have been around 20 hours. Just slap a trailing stop on it after +60 pips and let em ride.
Cy Hi,
I am checking the ten box renko with wpr2000 but finding extremely few occasions where the crossings are made to get any sort of real signal pattern. Obviously we are dealing with a vast amount of less bars to consider. Last signal on some pairs was back in May.
Have you tried a smaller wpr period that still acts as a power level that I could try without me hunting for one?
It may also be worth checking slightly different box sizes. The most common range of movement as I have found and is validated by pascal seems to be 21,56,84,112,126. My new levels which I have eluded to (still to post) reference these and other levels and they truly are quite accurate.
Saying that, Possibly a renko box 7 get's us closer to whole number divisibility and may give us a a safer entry.
Let me know if you have been down that path otherwise I will run some tests myself.
Cheers.
hello brooky, you did alot of awesome indicator, all of them really useful.
I am still waiting the EA from u base on my new rules for this system..
Jason
I know the investment bankers traders
change their strategy, indicator every 2 months or so
so, I just tell you what I find out -- of course, I use my own TF - 30M as my guide, but I know some of these indicators work on different TF
cyclesurfer indicators still hold water in some cases, but less chance to follow it now (still high chance)
brooky -- never seen indicator that answer some of the Q that I always has, and I do build around his indicator, i.e. add indicator to his to complement it
now , the fashion indicator during slow movement market seem to be BUTTERFLY indicator (but you have to figure out how to use it)
e.g. today on EURCAD and CADJPY
-- however, as a nice gesture , I will tell the contributors in this thread, how the butterfly work out in my charting >> really precisely that predict price level, so I am surprise -- PM only with confidential terms
mix and whirl
I put all my own indicators that I should trust (I know I could) in 2 templates
and your latest PocketV2.3 indicator look great on my latest template - 30M
setting for 30M could be 57-27-2-4 : also look good -- except the very last candle , that indicator FINISH
thanks for telling me the setting, otherwise, there is no way that I could GUESS it
I want the PocketV2.3 -- NOT to show the envelops , so my template background color is LINEN , removing those envelops, the whole thing won't work (tried many combination, still not working) , so I put the indicator that I want to HIDE -- in LINEN color, so it won't show up in the template (same color as background of mine) --- I only have 1 idea that it could work -- but it cost too much CPU power, if you got other idea to change the MQ4 and hide the envelops -- 4 to 5 extra lines --pls let me KNOW
(comment out stuff-- I don't like bollinger envelop shown as we will think KISSING envelop mean rebound)
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You could PM me, I could show you my chart -- it show the EXIT quite clearly on my chart -- i.e. entry is clear in your indicator , exit is clear in one of mine
and I did develop (write the whole thing) for NON trade zone -- but I think yours is great , I spent so much time to write it, it look great and test great, but dunno why, I did not use it that much -- maybe wait for entry for too long, if the NO TRADE zone is being shown
maybe we could observe the behaviour of the PocketV2... indicator together via MSN
I am happy to provide one of the indicator (your choice) in my template too
--- the WTA one, I have no clue, I can't set it up in 30M chart --
and I feel belittle by looking at those indicator as I try to develop something like that for long -- one indicator is very compatible with the no trade zone that I developed -- just wish that it does not repaint too much on 30M -- mine show the candle of DON'T trade, his show the price range, so they are very compatible when put in the same template
in private (PM) , I am happy to exchange more of my "Invention" or "Creation" with brooky or guyver -- i.e those contributor
We wish that we KNOW the boundaries when there is a uprise or downtrend, actually, from statistics , we MIGHT have a clue -- if they don't change the tactic -- e.g. in the brown dig, how to estimate how far will it be down ?! (future Q-- we don't know yet) - but I bet, currently, the market scenario is about STATISTICS and geometrical shape (just my hypothesis, in real trading, I could be the life-saver and made over-reaction too -- and they win)
PM if you are interested -- to exchange SC in LIVE trading conditions, oooh I did the version 2.3, but I leave it here for a few hours, then withdraw it, I just comment out some stuff [not much been modified]and WISH to eliminate some line, happy to tell you what I do with your 1.1
hello brooky, you did alot of awesome indicator, all of them really useful.
I am still waiting the EA from u base on my new rules for this system..
JasonPatience Jason,
Somewhere amongst trading, sleeping and looking after my family I get a chance to code. I have tested my beta's and am currently fine tuning the choppy -40,-60 region. This EA has full money management incorporated because entry is only a quarter of the story and what your eyes see a robot cannot until it has been told.
Will post soon for all who wish to trial.
Cheers.
Yeah, wish to trial your EA, cant wait to test it...
Thanks Brooky for the nice job