Hi all,
Anyone's making any progress with the bouncing system?
GBP/JPY's still making a downtrend according to this system?

this is what it looks like right now!

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what about USD/JPY and NZD/USD? according to the zigzag system, they are both on the downside.

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i've tried to master this simple method using bigbear's zigzag. gotta say, pretty imazing so far. have tried almost everything out there and have also made things more complicated. aren't we all like that? we tend to add more indicators to the charts, we tend to over analyze every little things and in the end, we get all dazed and confused...
still, i've found that, in my very humble opinion and through many many trials, if you add to bigbear's zigzag just two more things, you may have a pretty close change of hitting the jackpot.
i added the "infamous" SILVER TREND and SILVER TREND SIGNAL WITH ALERT.
as far as i've noticed, once you get a signal from bigbear's zigzag (whatever direction of that signal is), don't just get in the trade yet. wait until you see a confirmation from the silver trend (bar turns blue/red) and a signal (blue arrow/red arrow). why? for many occasion, i've noticed that the zigzag signal might not be a true signal. you see it, you get in the trade, a few minutes later, that signal gets to the side of the zigzag line and the trend continue to go up or down (whatever the case maybe).
so, to make it simple enough and not to complicate everything out of the be-jesus, once you get a signal from the zigzag, again, wait till you see the silver trend bar to change color and and a signal from it, then get it. note that this is not always a perfect way of trading. there's not a perfect way out there, as far as i know. sometimes you will lose. no doubt about it.
now, once you are in, you keep going with the same direction of the silver trend/zigzag. if you get a signal to get out from the zigzag, you can either get out now and take your profit and never look back or, you can look at the silver trend and see if it changes to the opposite color just yet? if it's not, you can continue to stay. why? again, just like i've mentioned above, the zigzag signal could be false and the trend could continue to go. so, just like the way you enter the trade, you wait until you see the bar to change color.
very simple, with proper MM, you can go to disney land daily!
if you look at the chart for USD/CHF, you can see that i have a signal from zigzag to get out or to buy in this case. but if you notice, you will see that the silver trend bars are still in red (downtrend), so i am going to wait...for now! of course, can get out and not to sweat about it and go on with your life.
happy trading!
sincerely...

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Hello forexclueless,
can you post the indicators?
Thanks,
regards,
Pluto2

Forexclueless, re-read posts by Bear and go study market psychology, cause you're not getting it. If you add the filter, you will be effectively trading the filter, not bear's system. You need a little more faith in the long run profitability of a system, not trying to win every single trade.
good luck.

fx,
thanks for the advice...i just wanted to share my ideas but i see that you like to attack already...
maybe i dont know anything, such as "market psychology"...but then maybe you didn't get what i meant to represent...it's all good.
bear's system is still the main signal i am watching for...i just feel better with another confirmation, i dont think anything is wrong with that...
still, thanks for the concern...i am here to learn. you just sounded pretty harsh...and yes, i have faith in bear's system and therefore, i am using it...
at this point, all the trades i am in are in green...using bear's.

relax flyboy...forexcluelesss has the right idea...you need a filter for this to avoid some of the false signals...how long he stays in a winning trade is completely up to him...

Hey redyM,

I will answer your questions here:

1. What first SL you put (SL=60 on your first post) ? is SL=60 also proper for EJ and CJ?

A) Although I said 60 that is just an average. People like to be told what to do so I told them what the average is. What I do is +5 below/above the candle that has the arrow. It works for any pair.

2. When you put BE?

A) I dont usually. But I would suggest 100 pips.

3. When you remove SL and move to another stop?

A) Depends on if I stay in the trade or not. Usually its at the next bounce after the re-trace. There are some pics a few pages back showing that.
Hope that helps.

Bear-

Hey droesparky,

It is all about patience & trust in your system. The biggest thing I learned that has helped alot is to not babysit the screen. Set your stops, if you choose a TP do so, otherwise let that b**** ride!!!!

Hope that helps,

Bear-