Follow The Bouncing Pip - Page 13

Poocher · #**121** (**permalink**) 08-09-2007, 01:38 AM

Okay. As well as you've been doing I was wondering if you use the same entry technique as Bigbear? Thanks.

lepiricus · #**122** (**permalink**) 08-09-2007, 02:03 AM

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

forex11 · #**123** (**permalink**) 08-09-2007, 02:04 AM

We do use the same entry and exit strategies. but being 2 different people you will always have some differences.

bigbear3391 · #**124** (**permalink**) 08-09-2007, 02:08 AM

Quote:

Originally Posted by droesparky

FTC it is then.

Here is another arrow marker for you to try, I must have a half dozen in my indicators. This one is good one Im checking for repaint, which I think they all will do at least until the bar is close. but if we find one that dosent move after the bar is close then we can work from it a lot better.

I use 3, 6, 500 for the settings on hour or 4hr chart

Hey droesparky,

Thanks for all your help. I really think as a focused group we can make this system fantastic.

Thanks again,

Bear-

bigbear3391 · #**125** (**permalink**) 08-09-2007, 02:10 AM

Quote:

Originally Posted by leeb

Hi bear - system looks promising... what happens if price continues to move against us and zig zag repaints do we only exit at opposite signal or is there a set stoploss pip amount ?

Quote:

Originally Posted by droesparky

I would set a stop of no more then the low or high of the candle you got the signal from.

Hey leeb,

droesparky has it down packed. That keeps your drawdown very small. The next time you get in is the next signal.

Hope that helps,

Bear-

bigbear3391 · #**126** (**permalink**) 08-09-2007, 02:13 AM

Quote:

Originally Posted by user4001

bigbear

I newer used the indicator before but I think BARN is a setting that works the same as "shift" in other indicators.If you make it 3 for instance the indicator will wait for 3 bars after it pass the actual point before it will make the dot . Maybe the idea is to use it as a filter.
FROM is the amount of history bars it will use to put the dots on.
Not sure about the alert.

Attached is an EA that will put the stops ,trailing stop and move the stop to breakeven plus x amount of pips. You will have to manually initiate the trade

Hey user4001,

Thanks for all your help. I will play around with this new toy.

Thanks,

Bear-

droesparky · #**127** (**permalink**) 08-09-2007, 02:20 AM

user 4001 Nice EA that takes care of trade after your in it.

bigbear3391 · #**128** (**permalink**) 08-09-2007, 02:26 AM

Quote:

Originally Posted by user4001

I tried today a different approached .When I got the short signal on the USDCHF the possibility was that if I go short it could go against my short position, so I enter a short and long with a stop loss of 40 on both my orders .it went in my direction but if it did go north I was still in for a trade on my long position. I did the same on GBPUSD , unfortunately the trailing stop was to close to the market action and it took me out to early but still positive after I subtract the loss on the sell order.

I think of doing this on the longer time frames, just need to determine a wide enough band between the stop loss of the sell and buy order. Well the market has to go up or down from that point. I set the EA to move to breakeven on both the orders just before it hit the stop loss of the opposite order to prevent the possibility to end up with two losses.

Hey user4001,

You should be carefull with TS. A lot of times they are your worst enemy.

Also I see 3 trades here possible.

A short worth about 170 pips

A long worth about 165

& the trade your in at this point in the trade is worth 50 & after checking my chart it had a max value of about 65 pips.

Add those all up & thats 400 pips in 3 trades on a hour chart.

Making your stops 2 tight is a trade killer.

But keep up the good work.

Bear-

bigbear3391 · #**129** (**permalink**) 08-09-2007, 02:35 AM

Quote:

Originally Posted by cmartin371

Hi bear,

THanks for showing us your system. Just trying to wrap my head around your MM. On the first page you stated that you use a 60 SL for E/J on the 1 hour and a 100 SL on G/J for the 4 hr. Does it vary with each trade for you? Thanks for your efforts

Chris

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-

bigbear3391 · #**130** (**permalink**) 08-09-2007, 02:47 AM

Quote:

Originally Posted by leeb

Hey guys, if you enter a short with a stop 20pips from last high and are stopped out but next bar has another short entry + zigzag line so meets entry criteria would you open another short ? Thanks, Lee

Hey leeb,

The short answer is yes.

The long answer is, well... long. Following the system as is YES you would get in.

Hope that helps.

Bear-