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The Holy Grail - Found

  • #321
  • Dec 18, 2007 2:40pm Dec 18, 2007 2:40pm
Wow, has this thread ever exploded! I had given it up.

JohnW, THANK YOU for posting the method, this is simple, straightforward, well-explained, and I like the system.

One thing nobody has mentioned -- the chart shows bid price. A resistance line drawn on the chart is going to be off by the amount of the spread, for LONG orders. I've never worried about this before, but since we're looking to enter on a 2 pip breach, placement of the line is critical, and you need to add the spread to your entry price on long orders if you plan to enter exactly 2 pips above the line.

On short orders, it works out OK, WYSIWYG.
  • #322
  • Dec 18, 2007 2:50pm Dec 18, 2007 2:50pm
ICED - I doubt there was more than 2 pips difference in platforms. I wouldn't worry about that. Most of the indicators are antiquated, bollenger would have never released his bands back in the late 70's if they worked.
Stocastics are over 50 yrs old and don't work. They're a big waste of time,
as John said. Remember, he studied everything for 4 years, don't waste your time, he did it for you and is telling you what works. Just put in the time on price action that I mentioned above, only on s/r area's. Don't waste your time on just any place on a chart. Think RIGGED!!!
  • #323
  • Dec 18, 2007 3:22pm Dec 18, 2007 3:22pm
Crazy how the fact that no account statements have been posted doesn't even stop some people here from risking real money on this.

Fear and greed my friends, fear and greed.
  • #324
  • Dec 18, 2007 3:41pm Dec 18, 2007 3:41pm
The holy grail...found after all.

Located here in the beginner section.
  • #325
  • Dec 18, 2007 3:48pm Dec 18, 2007 3:48pm
I think some people on here are going to be upset because they can't make an ea or backtest this method because of...drum roll please...PRICE ACTIONNNNNNN I LOVE IT, they won't study the needed price action until someone PROVES this method works. Now, the newbie's will study price action because they're not burned out from all of the screen time, and they will be rewarded for it. Have at it newbie's, its better than those silly indicators that someone developed and gave to the public from the bottom of their hearts...yea rght!
  • #326
  • Dec 18, 2007 3:54pm Dec 18, 2007 3:54pm
Quoting SunTrader
The holy grail...found after all.

Located here in the beginner section.
I wonder how many people diving into this still think a breakout has something to do with acne!
  • #327
  • Dec 18, 2007 3:56pm Dec 18, 2007 3:56pm
So Bollinger, et. al. are all scams, but with no testing, proof or any other shred of evidence, we've decided the Holy Grail is right before our eyes. Amazing!

I'm not a big fan of Bollinger or his bands, but he's managed money for years. You can at least find a track record for him (though I've never researched it). But, wait, it's more fun to accept a 97% win rate on blind faith.

P.S. -- Looks like the GBP/JPY short was among the 3%?


Quoting FXNorm
I think some people on here are going to be upset because they can't make an ea or backtest this method because of...drum roll please...PRICE ACTIONNNNNNN I LOVE IT, they won't study the needed price action until someone PROVES this method works. Now, the newbie's will study price action because they're not burned out from all of the screen time, and they will be rewarded for it. Have at it newbie's, its better than those silly indicators that someone developed and gave to the public from the bottom of their hearts...yea rght!
  • #328
  • Dec 18, 2007 3:57pm Dec 18, 2007 3:57pm
hear some winning trade for last 3 days and blue channel is 25 pips ,i did not take all the winning trade it will be little complected
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  • #329
  • Dec 18, 2007 4:18pm Dec 18, 2007 4:18pm
here i didn't fallow the rolls 100%, but you can see good results 6 won and 2 loses one of them i didn't made mark on it,
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  • #330
  • Dec 18, 2007 4:27pm Dec 18, 2007 4:27pm
USD/JPY

Trend and bias are down.

113.12 looks pretty good. Has been hit quite a few times, and has been breached a few times recently. There was a good trade on the 17th; the breach today (12/18) was good for 10, but not 20.
  • #331
  • Dec 18, 2007 4:35pm Dec 18, 2007 4:35pm
Hey Sami772, Thanks!

Remember, DON'T RISK REAL MONEY (unless its nano lots on oanda, 1 cent a pip).
Also, trades are to be taken in UPTRENDS ONLY!!! please pay very close attention to the instructions, or you may become confused. If you find the trades and study the price action over and over, you can't lose. Big traders will continue to gun for those stops, thats a given. Price action is key. you will see the trigger point and how it develops.

Thanks Sami
  • #332
  • Dec 18, 2007 4:42pm Dec 18, 2007 4:42pm
Norm

What does an uptrend have to do with it?
  • #333
  • Dec 18, 2007 4:47pm Dec 18, 2007 4:47pm
I think the Holy Grail is an honest broker. That's the REAL search.....
  • #334
  • Dec 18, 2007 4:48pm Dec 18, 2007 4:48pm
Thnx Blue, for the contribution, least we have a few guys tryin to help out.

The Idea is to find these stop gunning levels over and over so you can spot them easily along with PRICE ACTION!!!
The Big Boys with massive amounts of money will go after the hot shot traders and their fib and trendline levels constantly. Make no mistake, they
want their money and they will get it.
  • #335
  • Dec 18, 2007 4:59pm Dec 18, 2007 4:59pm
JFX - I'm just repeating the instructions. I'm sure JohnW tried long and short. The winning % was obtained in uptrends. Maybe the gunners like
to fleece the newbies going long...yea think?
  • #336
  • Dec 18, 2007 5:16pm Dec 18, 2007 5:16pm
Here is a very slick EA for trendline breakouts.

I didn't write it, I did write some clear instructions, however.

It's not hard to put a stop order a couple pips above resistance or below support, set the stop and t/p, and go play or go to sleep.

It's a different story on trendlines; the breakout price keeps changing.

Here's the solution.
Attached File(s)
File Type: mq4 TrendMeLeaveMe.mq4   7 KB | 1,193 downloads
File Type: doc TrendMeLeaveMe.doc   61 KB | 3,443 downloads
  • #337
  • Dec 18, 2007 5:18pm Dec 18, 2007 5:18pm
Quoting FXNorm
Also, trades are to be taken in UPTRENDS ONLY!!!
I didn't read it that way. JohnW said he "liked to see an up bias and uptrend".

He didn't mean to say that he only trades long; all he was saying is that he likes to see what he calls "bias" match the visual trend.
  • #338
  • Dec 18, 2007 5:21pm Dec 18, 2007 5:21pm
Quoting tdion
I think the Holy Grail is an honest broker. That's the REAL search.....
That would help, woudn't it?

But, that's even more elusive than the grail.
  • #339
  • Dec 18, 2007 5:34pm Dec 18, 2007 5:34pm
I've heard the term "Bread and Butter" play a few times in my life and it took me a while to figure it out.
Then, surprisingly one day I heard it mentioned by a member Fti (20 some odd yr big money trader) in one of his posts. He mentioned that the big banks have a bread and butter play they use constantly, but he said he couldn't release the paticulars because of an old allegiance to them and he didn't want to interfere with the "play" obviously on forex. You may find his
story on the turtle and the scorpion interesting also. I drew my own conclusions to it in one of my posts. Anyways, He's (fti) an interesting read.
  • #340
  • Dec 18, 2007 5:43pm Dec 18, 2007 5:43pm
I think EFX would rate as honest. Honest and broker in the same sentence does look a little strange.
For the newbie that wants to trade micro lots, I'd say EFX would be the safest.

( google, EFX forex) no meta trader but coming soon I hear.
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