Hey lepiricus,

That is something to consider.

Thanks for that.

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.

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

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

Great inputs ¡¡ I will have a nice busy weekend to think in all this possible optimizations, I agree on keeping it simple as bear says... BUT there is a clear posibility of some optimization yet, based just on pure technical analisis... (I think thats what all this interaction is about )

for example blending key levels of S&R, pivots, MP levels,long term averages ALL together with the original "bear signals" (would you guys like this name to bigbears original signal?)... what I mean is rejection of key levels with the "bear signals"... that could clearly make even more higher the rate of success on this setups... knowing your technicall context and trading with this awesome timing that the "bear signal" gives, I think it cant get any better...

I attach some simple examples of what I am talking about: so far I am also using droesparky z-z1, (if the golden dot may look similar to other thread dot, its just pure coincidence jejeje....) and bigbears nonlagzigzag (wich is also gold jejej)

Example 1: of a "bear signal" happening right on an mp poc level from previous days together with a 200 sma key dynamic S&R level... nice uhu ?



Example 2 : we get a "bear signal" right of a vpoc (virgin point of control)


Example 3 : another "bear signal" right of a poc level from previos day ...



and on we can keep adding some other key levels.. I like mp levels, they work like a charm... but we can add weekly, monthly pivots, maybe some camarrilla pivots... and I would love to have coded here the VWAP... its powerfull key level to play with... maybe some charitable coder can help us, I have the tradestation code to translate it may help...

some ideas here...

its clear, this thread its an interesting one... cheers Walter.

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Hi Bigbear,

I tried your suystem yesterday on Hourly chart for EURJPY and then I have a question to be sure if I did right or not:

- I had a sell arrow and the end of the zigzag line on one candle so I waited that the cande closed and I went short at the beginning of the new candle with a SL just above the recent high
- the price went higher on this candle and then the SL was triggered and the arrow and the zigzag line moved to the current candle. I waited that the cande closed and I went short at the beginning of the new candle with a SL just above the recent high
- again the price went higher and I started again the same process.

So I had a lot of small losses in a row before the actual top was reached and the trade went in the right way. I understand that it is normal behaviour because of the way the indicators work.
But I wanted to know if it is the way you trade it as well or do you open the trade not on the opening of the next candle but later like on the opening of the second next candle.

Thanks

this system is fine, the important thing is the timing wise and the money management. Some people like H1 because they gave frequent trades, but more trades mean higher chance of getting a loss. Perhaps, alot of people notice yesterday during NY time, usd/jpy, eur/jpy and gbp/jpy all gave out selling signals in H1 timeframe, but when i look at H4, it does not give the same picture as H1. I believe by combining both H1 and H4 will give higher winning ratio, but again, everyone has their own way and this is just my opinion. Now the yen pairs are falling, but how many stop loss has been hit in order to get this profit? And this might be just a correction, so do not be too greedy. Cheer.

Hey droesparky,

If i said something im sorry. I just meant i believe in keeping things simple. Im just silly sometimes.

yes the 4hr is th ebest time frame but 1 hour works for those imaptient traders.

Keep up the good work.

Bear-

Hey jlpi,

The way I trade is that I get in when I see the signal. I dony wait for the candle close. Thats too late. the move usually moves right away so then you can move to BE or secure some.

You will get stopped out. This is trading. You win. You lose.

Keep trying. Many people are doing good already.

Good Luck,

Bear-