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Does anyone have success with the Rossbot on a live account?
Thx
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So with these settings you are basically trading something like “heafakes” since it does NOT trade the breakout.
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Also, can you elaborate on the stop method used? Thx
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Hallo Daggi,
ich habe gerade festgestellt, dass ich deine Nachricht irgendwie übersehen habe. Das war nicht mit Absicht.
Ja, bei mir läuft alles prima. Ich hoffe bei dir auch. Ich hatte zwischenzeitlich auf Skype versucht dich zu erreichen. –
Hatte anscheinend nicht geklappt.
Zurzeit versuche ich mich am “Percentage” im SSBO, den habe ich noch nicht richtig verstanden.Ich hoffe man hört mal wieder voneinander. Bis dahin gute Gesundheit und ein glückliches Händchen beim Traden.
I just found out that I missed your message somehow. This was not on purpose.Yes, everything is fine with me. I hope with you also. I had in the meantime tried on Skype to reach you. –
Had apparently not worked. At the moment I am trying on the “Percentage” in the SSBO, which I have not yet understood correctly.
I hope you hear again from each other. Until then good health and a happy hand while trading.
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Thank you xux99 for this awesome indicator!
I am using the Setting: QuickTakeProfitType: SLMultiplier
It works great but in combination with the Setting MinBarsClosedOutside= 2, it creates situations like you can see in the attached screenshots. There is a large range between Trade Entry and CZ-Area so the trade will never complete or it takes weeks or months.
Would it be possible to add an option, to ignore these trade entries, for example: If MinBarsClosedOutside= 2 >20pips from the top/bottom of the CZ buffer zone = Ignore Trade Entry ?
Edit: Or even easier: MinBarsClosedOutside_Max. Pips = (PipVariable)
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I have added a MaxEntryDistance option and updated the first post. It defines the maximum distance of entry price from breakout level.
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I have added a MaxEntryDistance option and updated the first post. It defines the maximum distance of entry price from breakout level.
You are just awesome, thank you!!
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….it creates situations like you can see in the attached screenshots. There is a large range between Trade Entry and CZ-Area so the trade will never complete or it takes weeks or months.
I don’t understand this comment. Why do you think that the distances you are referring to would create open trades that would take weeks or months to complete? If anything, a quick burst of volatility immediately following breakout would lead to a quicker closing of a trade or a trade set, not a slower one. So again, I’m not understanding your comment.
Also, those spikes you are highlighting in your pics are actually quite rare on time frames of M15 or higher. So if you don’t like seeing them, stay away from the lower time frames and then no indicator tweaks are necessary. And you will see far less spikes if you stay away from the exotics, too. So just stay with the 2 or 3 most common pairings… and use M15 or above… and those spikes will become almost non-existent on your charts.
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I don’t understand this comment. Why do you think that the distances you are referring to would create open trades that would take weeks or months to complete? If anything, a quick burst of volatility immediately following breakout would lead to a quicker closing of a trade or a trade set, not a slower one. So again, I’m not understanding your comment. Also, those spikes you are highlighting in your pics are actually quite rare on time frames of M15 or higher. So if you don’t like seeing them, stay away from the lower time frames and then no indicator tweaks are necessary. And you will see far less spikes if you stay away from the exotics, too. So just stay with the 2 or 3 most common pairings… and use M15 or above… and those spikes will become almost non-existent on your charts.
Hello forexhard, it’s good to know you are still around. Let me take this opportunity to thank you for this great method, hats off!
I am using the SLMultiplier Option which means the distance between Stoploss-bottom-CZ-Area and Trade-Entry is used to calculate the QuickTakeProfit. For example if i am using a risk-reward Ratio of 1:2 with a large spike like you can see in the above screenshot, double distance would be my profit. Of course no one would enter this trade (i guess?), but with the new option i am able to filter these nonsense trades. Like you said those spike are rare but they still happen. So i get more refined statistics (xx CZ’s over 100 days) and more NetProfit ( i already tested it). Besides it’s only an option anyway. I hope this makes sense?
Did you test Stairstep Breakouts for stock market indices or do you trade forex only?
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Hello forexhard, it’s good to know you are still around….
That still doesn’t answer my question about your earlier post up above. You are describing a trade scenario where instead of a 40p QTP, it might be 65 or 70p instead, because that trade set was opened on a spike candle. Increasing your QTP figure by 20-40p, let’s say, in this example. But now, YOU TELL ME, how that becomes a trade set that will now take “weeks or months”, as you said, to close, instead of just a few hours, or next day, as per the usual? Why the hyperbole? It just doesn’t make sense, the claims you are making. I need you to explain them to me….
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But now, YOU TELL ME, how that becomes a trade set that will now take “weeks or months”, as you said, to close, instead of just a few hours, or next day, as per the usual? Why the hyperbole?
Ok fair enough, the month part maybe a bit extreme, point taken. But there are trades like you can see in the attached screenshots where a trade may take up a week.The indicator will not show any other CZ’s during that time. Yes, they are rare events but they do happen and influence the CZ’s statistic.
I am not here to argue, Stairstep Breakouts are working and xux99 was kind enough to add this feature. So thanks again.
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I welcome a good debate. Just make sure you know what you’re talking about. I expect SSBO posts to reflect real life experiences, not questionable theory.
For example, those examples do not accurately reflect my normal trading style, nor do they reflect the vast majority of trade sets that a serious SSBO trader will see in their lifetime. Even if they were accurate (they are not!), you would still only see them maybe once a year on key pairs.
First, I do not believe you actually traded those examples in real life. I think you are looking back at historical data and cherry picking your examples, looking for best case and worse case scenarios. If I am wrong in this assumption I will apologize, but I don’t think I am.
Second, your R:R ratios are off. In about half of those examples you gave, trading those sets my way with a strict 1:1 ratio I would have ended in profit many bars earlier than as you see in those pics. The one pic – the last one, that shows a -39p on the first trade of the set, and then re-opened on a massive downward spike – finally closes more like 75p down, not 39. Had that been one of mine, it would have closed out when that second trade of the set reached the 40p sell zone. If my breakout trade loses 40p, I don’t expect the second/third/fourth trade to give me more. I try my best to have the follow-up trades of a set to match the breakout trade, keeping my ratio as close as possible to 1:1.
Third, even in the worst cases that you show in your pics, it still did not take “weeks” or “months” for those trade sets to close. From the looks of it, the worst of the bunch would have still closed within about 50 hours of opening, give or take. Which, quite frankly, is perfectly normal in this game.
Fourth, some of those examples show the spike on the later trades of a set, not on the breakout trade. In which case there is nothing you can do to avoid them, since the actual breakout trade of the set has already committed you, and you already have equity at risk. Not even the mod you asked Xux to make for you will correct this situation, because his mod only affects the breakout trade, not any that come after. The very most you can do in this particular situation, is to cut your losses once the spike hits if it makes you too anxious, and call that one trade set a loss and move on. If it is your intention to qualify every single trade of a trade set as though it was the breakout trade, you are going to have a lifetime of disappointment!
Fifth and last, it is completely wrong-headed to go into the trading game pre-supposing that an open trade set should close within a pre-determined amount of time. Who cares if a set remains open for 10 minutes or 10 days or 10 weeks? Why should that matter in the slightest? (Answer: It shouldn’t!) All that matters is Price Action, and how we respond to it. Nothing else matters. Nothing. Anything else is just static noise in the distant background, as far as professional trading goes, and that includes how long a particular trade/trade set is active. If you approach it the other way, all that will happen is that you will start becoming antsy and nervous when things take “too long”, and that anxiety is precisely the type of emotion that you must overcome and master on your way to becoming a professional trader.
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First, I do not believe you actually traded those examples in real life. I think you are looking back at historical data and cherry picking your examples, looking for best case and worse case scenarios.
You are correct, i didn’t trade those examples but i ran into the second one (usdcad). The indicator “went silent” because it had to wait until Profit or StopLoss .
Second, your R:R ratios are off. In about half of those examples you gave, trading those sets my way with a strict 1:1 ratio I would have ended in profit many bars earlier than as you see in those pics. The one pic – the last one, that shows a -39p on the first trade of the set, and then re-opened on a massive downward spike – finally closes more like 75p down, not 39. Had that been one of mine, it would have closed out when that second trade of the set reached the 40p sell zone. If my breakout trade loses 40p, I don’t expect the second/third/fourth trade to give me more. I try my best to have the follow-up trades of a set to match the breakout trade, keeping my ratio as close as possible to 1:1.
You are keeping your ratio 1:1 and not let your winners run? This is a new piece of information for me. Although it makes sense for the second/third/fourth trade. I will keep it in mind, thanks!
Fourth, some of those examples show the spike on the later trades of a set, not on the breakout trade. In which case there is nothing you can do to avoid them, since the actual breakout trade of the set has already committed you, and you already have equity at risk. Not even the mod you asked Xux to make for you will correct this situation, because his mod only affects the breakout trade, not any that come after. The very most you can do in this particular situation, is to cut your losses once the spike hits if it makes you too anxious, and call that one trade set a loss and move on.
You are right on this one. There will always be loses, thats part of the game.
If it is your intention to qualify every single trade of a trade set as though it was the breakout trade, you are going to have a lifetime of disappointment!
That’s the tricky part. Currently i am working with MaxTrades per Set of 2. To trade the third and fourth after losing the first two trades requires a lot of training and experience in my opinion ( and i am not there yet).
All that matters is Price Action, and how we respond to it. Nothing else matters. Nothing. Anything else is just static noise in the distant background, as far as professional trading goes, and that includes how long a particular trade/trade set is active.
Thanks for the reminder.
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Second, your R:R ratios are off. In about half of those examples you gave, trading those sets my way with a strict 1:1 ratio I would have ended in profit many bars earlier than as you see in those pics. The one pic – the last one, that shows a -39p on the first trade of the set, and then re-opened on a massive downward spike – finally closes more like 75p down, not 39. Had that been one of mine, it would have closed out when that second trade of the set reached the 40p sell zone. If my breakout trade loses 40p, I don’t expect the second/third/fourth trade to give me more. I try my best to have the follow-up trades of a set to match the breakout trade, keeping my ratio as close as possible to 1:1.
You are keeping your ratio 1:1 and not let your winners run? This is a new piece of information for me. Although it makes sense for the second/third/fourth trade. I will keep it in mind, thanks!
What do you consider the perfect SSBO trade scenario? For me, it would be for every first trade to hit QTP every time. No second/third/fourth trades, just a single breakout trade hitting QTP every time. Wouldn’t that be amazing? But since we know QTP is hit on average only about 1/3 of the time, we must plan ahead for the other 2/3rds. This is where MM comes in.
You’ve been saying that your way to treat follow-up trades is to add pips to them. But in another set of comments, you are complaining that certain trade sets are staying open for “weeks” and “months” – IE, too long for your taste; makes you become anxious. I tried pointing out the incongruity of this picture, but I’m not sure you are seeing it yet. IE, are you seeing yet that adding extra pips to the follow-up trades has a HUGE impact in how long those trade sets will stay open as they work towards the penultimate TP? Clearly, if you have an initial SL of, say, 40p, which you convert to a TP of 70p on the very next trade, do you not see how doing that will prolong the life of the trade set? Not only that, but instead of losing 80p if that second trade hits SL, but you are now losing 110p due to the increased R:R ratio? What’s the next move, adding yet another 30 pips to the 3rd trade in that set, making the next TP 140p? In my opinion, these are not the actions of a skilled trader. You didn’t learn these moves from my teaching thread. I don’t know where you came up with them, but you really need to re-think your MM strategy and get back to as close to 1:1 TP/SL ratio as you can.
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Clearly, if you have an initial SL of, say, 40p, which you convert to a TP of 70p on the very next trade, do you not see how doing that will prolong the life of the trade set? Not only that, but instead of losing 80p if that second trade hits SL, but you are now losing 110p due to the increased R:R ratio? What’s the next move, adding yet another 30 pips to the 3rd trade in that set, making the next TP 140p? In my opinion, these are not the actions of a skilled trader.
I think there is a misunderstanding (maybe due to the language barrier on my side). I am currently trading a set of max. 2 with a R:R 1:1.8 in eurusd for example. If the first trade closes in profit, great. If not( IE -30p) the R:R ratio stays the same for the second trade. If i lose again (-60p) i’m looking for a new set.
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FH nice to see You here again. Thank for some wise words in last comments. SSBO is working, there is no questions, but success and profitability depend on trader.
Is there any option to take some individual teaching from You?
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I have spent 2 years studying this system and all I want to know is how to actually implement the 1:1 risk reward ratio
Looks like you need to either:
- stop using this EA, it might take you another 2 years to figure it out… lost time IMHO
- consider stop trading… that if you still believe in the risk/reward myth
Good luck.
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Hi Jonny
I would like to experiment with your EA on renko. I have one other indi to use as a filter and will then come back with it after my results show improvement.
Thanks
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Hi!
is it possible to get a setting on the rossbot that will remove EA from chart or turn off live trading in its option box after the close of a trade? the way i trade it, sometimes it will find another setup before i want it to and open a trade before i get to it and turn it off. i can’t turn off auto trading because i am running more than one chart at one time. i tried to add in a code to the mq4 file that should to it for me, but i can’t get it to work. i will be glad to pay you for your time and effort. thank you.
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Hi!
I´m starting to study this FH´s method. So much material to read about this for a newbie like me. I want to thank all in the community that have contributed to this eye opening methods and exercise ideas!
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Hello,
i think there was an option to turn of the extended CZ box in the indicator but i cant find the setting so that we only see the cz without extension.
What was the name of the parameter, i havent seen it in this thread and cant find it in the FF one but be sure that i have used it in the past?
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Hi,
i am also looking for a guide with recommandet settings for the indicator.
Any help?
Thanks
Zurzeit versuche ich mich am “Percentage” im SSBO, den habe ich noch nicht richtig verstanden.
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