Watch out, Don's about.

Infinite drawdown alert!!!

That's funny.

You see even Don loves it.

I am working on the ultimate drawdown alert that only get's you out of the trade when you are 3000+ pips in drawdown. Could be the holy grail! LOL

Don

__________________

"A man wears one watch and can tell time. A man wears two watchs and doesn't know what time it is"

old chinese proverb.....

www.ForexRobotTrader.com

Note: 100% no loss is obtained when no type of stop loss is employed

Maybe we could put Don's translator on a wave file to fire an alert message...

This was a useful thread. Let's try and keep it that way. There was nothing wrong with the original rules.

Thanks for the reply!

So....if we are to understand correctly.....the EA, following the Original, Manual entry rules did detect arrow/zz line convergence and therefore did initiate a trade at each of the "fake-out" arrows....

....and if so.....my original question is answered in the affirmative. Thus, on bigger moves, a lot more false reversals will be signaled. I somewhat expected that would be the case.

Wondering if BigBear, Forex11 or other longer-time users can affirm that this is the case.

Again....not at all flaming the system.....I like the system. Likewise; I don't think a filter will be found to turn this into the HG.....it doesn't need to be a H-grail....just a method to put the odds in your favor on catching the big moves.

Just musing on how to best plan for and deal with the multiple false entires and wondering how often they show up in the multitude depicted on my previous post...

Thanks to BigBear and Forex11 for sharing this.

Thanks Mr Pip and zmax for your commentary as well.

Would you mind either posting the EA you wrote so it can be checked for accuracy on signal or send it to me at my email?

If you are checking on closed candles for signal that is not in the original rules.

Also some bad news(maybe).

I believe there is a bug in the zigzag indicator.

Last night the GBPJPY had a low on the 1 hr timeframe that zigzag did not use. It placed the low 7 bars later at a low of 231.91 instead of the low at 231.88. NonlagZigZag shows the correct low.

This might explain the arrows occuring in strange places as well.

I will look at ZigZag in detail and try to find the bug.

Robert

If a short trade were entered at the top and a better exit stragey used those false arrows might not matter as we would still be in the trade when they occured.

That might mean a starting trade might cause a series of losses if the first trade was at the yellow arrows but once a valid trade was hit the other arrows would occur (hopefully) while still in the trade.

This is also where partial close would help. Close half of trade when first target is reached and let the rest run from there with move stoploss to break even and maybe a small lock of 5 or 10 pips.

Robert

Hi all,

This is my first post ever, so bear with me (no pun intended). I hope I'm figuring this right, but even with the false entries, you would gain almost 1300pips from the GBP/JPY chart Brunite posted.

I idealized this a bit by using only the highs and lows for the bars with arrows, but if a stoploss was set at 30pips below the low of each entry, you'd enter on 11 false signals, and still come out way ahead. This is supposing you enter on the next signal after the bar that the stop was hit on (see attached screenshot).

Many thanks to Bigbear and Forex11 for sharing this system, and to all of you gurus who are helping.

Attached Images

nlzz_zzp_1.gif (33.9 KB, 943 views)

I am very honored to have the senior members on the thread.

WELCOME