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Did the rules of the system changed or it is equal to the rules in the first post?
roodstaart: did you improve the system adding any kind of filter or you trade the exact same system as everybody? You are getting amazing results... If you did improve the system, can you post what you are doing?
Anybody playing yen pair will be burnt today( trading during Asian and European time frame) trying to long on the bottom of the zig-zag. The bottom kept dropping and changed so many times today on all the yen pairs. SL will be triggered numerous occasions. Got to have a feel of the market, and don't try to trade against the trend. Just wait how the trend goes when the US market opens!
change to H4. much less false signals. only one confirm signal on H4 on GJ, that was on jan 4. this is big trend, last year there was one month (june if not mistaken) with similar big trend. only 4 false signal on H4 with ftc.
Hello,
I have downloaded the indicators and template from the first post. The template only has the MFI indicator on it and not the rest, so I added them on the chart.
I am trading GBP/YEN and EUR/YEN. When I see an arrow and line touching together I enter with sl below the candle with arrow (if long), if its too close then i use 40 pips. My TP is 5 times the sl.
I have been losing money trading this system. I enter then get stopped out whilst I read posts here of success. Is everyone using the same method?
Is there something Iam missing or not doing correctly?
Thank you
try qqe. it is somewhere in this thread. change to H4, less false signals.
Anybody playing yen pair will be burnt today( trading during Asian and European time frame) trying to long on the bottom of the zig-zag. The bottom kept dropping and changed so many times today on all the yen pairs. SL will be triggered numerous occasions. Got to have a feel of the market, and don't try to trade against the trend. Just wait how the trend goes when the US market opens!
I hear you man. I had things to do today, but if I had traded from beginning of Asian till now, I would've had two losses on g/j for a total of 154 pips, spread included. BUT, I would be on that reversal move up currently +278 pips, so that is not what I call burnt. Plus I trade trade continuation, so no worries. But I know that could've, would've does not matter
So my point is that with a good trend filter you can trade reversals, yes it is hard and frustrating sometimes but that is just how it is....
I don't understand how this system can be so good. If the zigzag indicator shows a top, the price should move down, but the price could go down a bit and go back up and make a new high. Then on the chart we'll see that the zigzag indicator has changed, but in fact, when we look back in the chart, we might have followed a lot of false signals that are not showed on the chart anymore.
Perhaps it could be a good idea to use this system as a trend follower. For example, if we see in the 4h or daily timeframe that the trend is upwards (using Guppy and a simple moving average), then we go back to the 1h chart, if the zigzag indicator is showing a bottom, then we could go long with confidence.
Did the rules of the system changed or it is equal to the rules in the first post?
roodstaart: did you improve the system adding any kind of filter or you trade the exact same system as everybody? You are getting amazing results... If you did improve the system, can you post what you are doing?
Thanks
Maybe it is some improvement I made, I do not know. For sure I am not trading 'as the rest', I try to be on the few % that makes profits... and that cannot be done by trading like the majority.
Anybody playing yen pair will be burnt today( trading during Asian and European time frame) trying to long on the bottom of the zig-zag. The bottom kept dropping and changed so many times today on all the yen pairs. SL will be triggered numerous occasions. Got to have a feel of the market, and don't try to trade against the trend. Just wait how the trend goes when the US market opens!
That is it. Just wait. Look at the chart and wait. Do not want to see things that are not there. Wait until they are there. Take a good filter indicator. I have a few very good ones. So, I will donate them to anyone that fixes the indicator that I placed a day ago.
and that cannot be done by trading like the majority.
Linear Mode
