A friend of mine pointed me to this thread as he noted that Bear's style is a bit similar to mine. I too look for tops and bottoms, but by confirming my trades with HA candles and 50,3,3 stochastics, turning from ovebought/sold levels (25 and 75). My experience is shorter than Bear's, so I can't give any forward test data. I wait for candle close to enter (day job...). Out of curiosity, I've put Bear's zigzags on my daily charts. Will be interesting to see the trade probability and the risk reward ratio.

good luck all

ps. Bear, chill, my dad always told me that it doesn't pay to waste ones nerves on other people's problems (with themselves)

Hey leeb,

I agree with droesparky. Losing trades are just CODB. I have been trading my original style, the very first post, without changing a thing & have been very successful with the results.

I dont know if people are trading the right way or not. THE ONLY TIME YOU GET IN IS WHEN THE ARROW & THE ZIGZAG LINE TOUCH. I dont know how the EAs or back tests are giving so many signals because I never see all that. Plus you must understand that the lower the TF the more False/Bad/Wrong signals you will get.

Anyways I hope we are able to make an EA that works with the options I have stated above.

I will be testing the EAs that I have from those who have assisted me this week.

Thank you all for your hard work. Just remember to K.I.S.S.

Bear-

FX Flyboy
would you mind sharing your template and timeframe?

daily tf, though the idea works on all tfs, with hourly and daily being my favourites.
Take a look here: flyingmoney

Please, bear in mind, that I'm not a profitable trader.

Attached Files

double stochastics.tpl (1.9 KB, 214 views)

Hey FX Flyboy,

Your dad is wise. My mom always said that to me as well. She says, " People always wanna prove each wrong instead of helping each other be right"

Plus I have a bad attitude towards people who talk about things they never tried or no nothing about or are misinformed about. You know who Im talking about. Me 2 people. Like the ones who vote on polls & dont post why something is bad.

Even though I am abrasive & short tempered, I am a fair man. Those people who say it wont work or voice their opinion about it in a negative matter are at least standing up for something & I give them respect for that (even though they are wrong ) & thats fine. Its a somewhat free world. But just know what the hell you are talking about before you shoot down everything.

I dont know jack about EA programing. I dont even know all that much about Tech trading & most of what people say is (insert foreign language of your choice here) to me. All I know is how to trade my style with the effectiveness that gets me paid. Im still learning. I never claim to know more than I do. People who do that are weak. They feel they need to walk around all puffed out.

I enjoy deflating them

Thank you though & good luck with all you do.

Bear-

Offtopic: been to (if I remember the name right)San Jose (cruise ship terminal area) a few times - used to work on Princess ships.

I've just looked at daily EUR/USD SIMBA way (visual test) and to me looks a bit scary without my favourite HA candles. I'd say that for me, HA addition might do the job. I'm glad that it works for you without any. I do believe that each trader needs to find their own style. I've been learning for over two years now, and still haven't figured out my own style for good. Perhaps what I'm doing now will get me somewhere - wish me luck

Good luck to you, I'll keep peaking in here occasionally, cause the thread is interesting.

template dosnt have has candles on it I thought that was your main thing

Just want to say thanks Bear for sharing your system and your experience with it.
I just read through the entire thread and looking forward to playing next week.
This looks like fun!!
Good luck everyone!

This is how I use the FTC system.

1. I pick currency pairs that usually have alot of volatility(move alot) such as gbp/usd,usd/jpy,eur/jpy,gbp/jpy.

2. I use a 1h time-frame

3. I add the NON-LAG ZIGZAG indicator and the ZIG-ZAG POINTER on each currency pair that I am watching.

4. I wait until I see a arrow show up, then I look at the candle that formed when the arrow formed(usually if you have a long wick on that candle, 99% of the time it does reverse) This is where watching charts for several years helps out.Because you have learned candle-patterns.

5. Place trade, with stop on the other side of the arrow(not-complicated). When placing your stop, you cant worry about losing some pips, if you are you shoud be using demo or micro lots or you are in the wrong business!

6. Let trade develop, let some pips build up in your direction before moving STOP(depends on the currency-pair you are trading.)

7. As far as take profits are concerned, everyone has their own visions on what they are trying to get. We recommend at least a 2:1 ratio example(30 pip stop,60 pip take profit.)

8. If you do get a repaint and get stopped out I usually will replace a new trade. because when you get a true reversal and learn how to ride it most of the way, you will make more pips than you lose.

9. Take profit and wait for new trade

Thats about it. After you play with it for awhile and learn some basic candle-stick patterns, you should do very well with this strategy.

HOPES THIS HELPS EVERYONE.

May be this ZZ will be useful ZUP - Universal ZigZag with Pesavento Patterns. Part 1 - MQL4 Articles