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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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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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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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….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.
FXH & XU99: Just a quick note to offer thanks…. RxCape. (formerly TPC23 on FF)
Hey Tom, wow, what a blast from the past! Great hearing from you again; great seeing you hang in there! Take care of SSBO, and SSBO will take care of you. You still in Florida? Listen, if you want, and only if you want, feel free to contact me at circleshow@ the gee place dot com. I’m always around for someone with your longevity and perseverance if I’m needed. Best,
Note to people looking in: This guy was a regular member of my SSBO teaching thread at the FF. So our history together goes back almost six years. Which in Forex years is like 1000. I’m extremely happy to see his comment here today, and to know that after all this time he still considers SSBO his core system for trading FX. Anyone else looking in and wondering whether SSBO has any lasting value should take note.
Thanks to xux99 and all you contributed to make this thread a success……Thank you.
SSBO is NOT about the indi; the indi should play a very small role in your over-all trading experience. Based on your pics and your comments here, it is obvious you don’t yet understand the key principles of my SSBO trading philosophy. Before you waste any more of your time or energy, or that of those around you, you need to visit my original teaching thread and start at the beginning and do precisely everything is says right there on the first page…:
http://www.forexfactory.com/showthread.php?t=302007
SSBO is my creation. I maintained that teaching thread daily for almost 2-1/2 years. Believe me when I tell you, that everything you need to know about trading is already there waiting for you; as well as, every question you will ever feel like asking has already been answered in there too. Again, just go to the first page and do EVERYTHING is tells you to do, exactly as written. Good luck!
Goes to show how successful you really are if you have time to come onto forums and talk shit.
SSBO post #7094 shows how I was trading exactly three years ago. Try to imagine what my trades are like today, after 3 years of compounded equity. Most retail traders will never see those types of numbers in their lifetime. Intelligent people will want to know how I am able to do these things. Those less intelligent will call names and sling mud in jealousy or fear. Which are you?
This results in my profit being wiped quickly- are there any better ways to hold on to profit and trade??
Yes: Stop trading Forex and move on to something you actually have an aptitude for. Trading is not for everyone, as you have clearly shown. Time to move on.
Your so called method would have been nothing without Xux99’s indicator….. The fact you have no patience for your students and your unethical approach to teaching people….
First, you are not my student. You are a poser, a pretender, a troll and a time waster. I know my students by how hard they work, not by how many excuses and crybaby rants they post online. Second, Xux is my SSBO coder, but I am the SSBO creator. Xux did as I instructed, and we worked on it together for many weeks. So if you like the EA or the SSBO indicator, you’re welcome. Because they are ALL of my personal design, not Xux’s. Third and last, I have plenty of patience for students who deserve it. You just happen to not be one of them. Goodbye.
…..However, based on reading the thread over at FX factory twice…..
I don’t care how many times you’ve read the SSBO thread. If you didn’t perform the required steps (and you clearly haven’t), then you haven’t yet learned 10% of what you need in order to continue.
Since you seem so unwilling to learn the right steps after many warnings, I now consider you to be a time waster and a troll. I will now ignore you and your idiotic posts, and I hope every one else here does the same.
Roni, I have NEVER “advocated” for MA1 or EMA1, etc., for use with my system. In fact, I don’t “advocate” the use of ANY type of indicator! In fact, I don’t even “advocate” for the use of Xux’s SSBO indicator or EA! What I DO advocate, is naked trading. And SSBO is, and always has been, a naked trading system at heart. Any custom software or indicators that were introduced into my teaching thread were only ever presented by me as added extras to the experienced SSBO trader, and NOBODY was supposed to use them until they fully understood the naked trading foundation of SSBO. And since it is crystal clear you have not mastered SSBO naked trading, your first course of action at this moment should be to stop everything, go back to the SSBO thread, and start at Page One and try again. There are some very important steps that you have jumped over, and as a result you know nothing of what I have taught, and you are only in here making yourself and everyone around you more confused and distracted by the day. If you take my advice here today, we literally shouldn’t hear another word from you in at least 100 days, just like it says at SSBO.
Roni: Starting now, either turn OFF the EMA filter, or change the EMA value to a larger value such as 3 or 4. Either one of these should fix your questions. The EMA is NOT meant to be set to just 1. That does nothing to help the system. EMA 3-4-5-6, etc., does help.
I have the data, results from the EA straight no MM….
Sounds like you have it all worked out already. Good luck my friend, you obviously don’t need our help…
Hi xux99, Again thanks for the brilliant work. I have manged to set some good strategies but and tested a MM in excel to optimize results. Is it possible to add a MM option in the EA, as follows: Example: 1. Starting Balance or Available equity = 1000 2. Divide the *Balance/“X” (certain number lets say 150) and rounded up to *Zero= 7 3. That would mean the profit/loss for 1 pip on the next trade should be $7. That would suggest next trade on EURUSD should be with volume of 0.7 lots. 4. The “X” must be a constant, what I mean is Balance always divided by it (like excel lock cell with the $) and to be editable. 5. Then repeat for the next trade IF that could be done, would be a great advantage to be tested in this way as a can see a big positive difference in this MM on solely using percentage of equity. Yes, I have tried to simulated it but the results did not match. Will be waiting for an answer, thanks in advance for it. P.S. If further information for clarifying it is needed, just let me know.
You won’t get into profit with a trade set using these types of MM formulas. Only about 30-35% of the gross number of trade sets hits QTP. The remaining 65-70% miss the first breakout trade of a set (QTP), and so to remain equity positive for the remainder of the set some form of equity recovery is required. In other words, more equity needs to be risked on the next trade, not less. In your example, it’s exactly the opposite: you are risking less after having suffered a loss. You will never reach profitability that way.
I have said it before MANY times: The key to SSBO is the size and shape of the CZ, and being patient enough to pass over the lesser CZs in the search for the best ones.
Gents, seriously, this must be the bitchiest thread yet on Penguin … Dear Roni, mate … I do get the guys getting a bit fed up with you basically asking the same question over and over again whilst dismissing or misunderstanding all the responses…. Peace Danny
Hello Danny, glad to hear you are getting something useful from SSBO.
Yes, I very much expect potential SSBO traders to stand on their own two feet. Mainly because it isn’t difficult to do. Roni is definitely not the first noob poster I have come across, and he won’t be the last. But, if he had simply taken the time to follow my instructions, then not only would he be standing on his own, but he would then be in a position to pass on the knowledge he EARNED to others as well. Unfortunately, as it stands now, he is just another lost statistic and a time suck on everyone he meets, and is no position to help anyone whatsoever. He says he has been with SSBO for at least 2 years, and yet he still comes into these forums with these types of questions and false expectations. So either he is a liar or broker mole, or a VERY bad trader. Either way it goes, he hasn’t earned my respect. If he (and others like him) would simply spend 10 weeks or so following the instructions from the SSBO OP (like you did???), then every single one of these basic questions would already be answered, plus dozens more. His self respect would be through the roof at that point, and his bank account would be in a much better place as well. Again, that’s giving him the benefit of the doubt that he’s in here actually trying to better himself and his understanding of SSBO in the first place. But the fact that he keeps coming back with the same 2 questions over and over, makes me question his motivations. What I’d really prefer, is that he go away for 3 months and follow my advice and instructions, and then come back in here with a success story of how he powered through his challenges, and was now ready to help others.
Billyon, Many thanks for your response! What makes you say that this method will ‘eat you’? It would be so profitable if we could use the same quickTP for the second, third, fourth trade of a set.. Does anyone do this? Or do they just keep the Quicktp number to the initial breakout only?
Once more I say: If you had followed my directions from the first post of the SSBO thread, then all of these questions would have already been answered. The very fact that you are asking them, is all the proof I need that you are taking short cuts and expecting to be spoon fed by actual SSBO traders that have done what you have not. In other words, I would bet anything that you have not 1) spent at least one week trading with hand drawn boxes, 2) traded forward for at least 100 trade sets with hand drawn boxes and small lot sizes, or 3) kept a detailed trading diary as you did these first two exercises. And until you actually take these steps, you should stop wasting everyone’s time with your noob questions. Your lack of preparation does not become everyone else’s problem, and it is not our responsibility to fix issues you can easily fix for yourself if you were to simply follow the directions given years back. And before you flame me again, remember that you are in here asking about my creation, not the other way around. The ONLY thing I want from you is the effort it takes for you to finally follow directions and get on track with the rest of us. If that’s too hard, then maybe trading isn’t the thing for you.
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….Forexhard claimed his system to be ‘perfect’ and flawless….
Completely and utterly false. I have never said any such thing. How can I be expected to have an honest and helpful conversation with someone that says this crap? And you said thee same shit above, I just decided to overlook it and try to steer you in the right direction to get you back on track. You keep repeating the lie, so now I have to answer before someone else reads it and gets the wrong impression.
If you choose to answer, then I expect to see links to where I have said that SSBO was “perfect” and “flawless”. Hint: You can’t. I never said it. But yeah, go ahead and try, I can’t wait to see what you come up with…
I do not like getting into ‘slanging’ matches so I apologize for the upset above. I just know how frustrating it can be to read through something over and over again and not find the answer. All I want to know is how we could risk 1:1 on a trade regardless of if the box buffer is 5 or if we wait till a bar to close outside the box. I could not seem to find this answer in the thread. The only answer that would be similar to this was ‘martingaling’ which means you would have to have a significant bankroll to do this. I have implemented XUX99’s SBBO dynamic indicator and have found some good settings narrowing down to only 2 break out trades from the inital breakout taking the total trades per trade set to 3. I am not sure if there are better settings out there or if i should implement the Rossbot for this..
The answer is in front of you, but by taking your shortcuts you have failed to recognize it for what it is. Once more: Go back to the SSBO thread and read the FIRST POST as many times as it takes. 10 times… 20 times… 100 times… what ever it takes until you finally see where you have gone off the track. I can spoon feed you and just say, but you won’t learn anything if I do.
My pathetic mannerism was to donate almost 3 full years to mentoring for free in a public forum. In that time, I met many people in person who took the time to find me here in Las Vegas to thank me for changing their lives for the better. The reason their lives were changed, was because, unlike yourself, they actually took the time to read AND follow my advice, and to accept the blame for their success and their failures equally. Speaking of coders, three eventually stepped in to help, and Xux was one of them. What you fail to understand, is that in building up the indicator Xux and I shared more than 100 emails behind the scenes. Xux knows EXACTLY how I think and trade, and Xux is no dummy. As a professional coder, he has seen thousands of ideas come over his desk. And yet, SSBO is one of just 4 that he has kept with since his time at the FF, and had kept coding for, and posts the EAs of which at his personal web site.
I’ve seen the photos of the homes and cars people have bought with their SSBO proceeds. And then we have you Roni. Tell us, what are YOU known for? What lives have YOU changed? Ten years from now, what is YOUR legacy going to be?
Is that true? Did you really read my teaching thread 3 times? If yes, did you also carry out the instructions from the very first post? For example, did you teach yourself to trade naked and with only hand-drawn boxes? After that exercise, did you then make a 100-day live forward test with small lot sizes, and for which you kept a trading diary as well? If you didn’t finish these exercises, then please stop wasting Xux’s time and energy having to answer your ignorant posts because you were too lazy to take my advice. Jumping past everything else and going straight for the indicator is a sure way to lose your shirt. It pisses me off to no end when I see guys like you. There are no short cuts in Forex. You’re the guy who thinks he can teach himself karate by watching Bruce Lee movies. Real. Life. Doesn’t. Work. Like. That.
