Thread: Interactive Trading Setups Disscussion

Originally Posted by lobogabor

According to Jason, Cypher gets above 80% success rate... I suggest compare with your 121 success rate, if cypher is better, back&fwd test it, to check if it proves out for you.

I disagree with it actually. To talk about success rate without talking about SL/TP/position management rules is wrong. And if you define the exact Fibo rules for the pattern identification and resonable position for SL and TP, and trade each pattern you will not get 80% for sure.

unfortunately kor4x is right i think.

Originally Posted by FatTony

unfortunately kor4x is right i think.

of course ;-) ... if we imagine using SL=100p and TP=1p ...this may lead to 99% success ratio of any price pattern

just guys do not get caught by the marketing type of 80+ % success ratios (especially when no further details are provided)

Originally Posted by FatTony

unfortunately kor4x is right i think.

Sorry I have assumed you have 121 rules! Cypher definitely has the HP rules...
To explain a bit: SL above X (X+ some pips/could be ATR related + spread), TP1 at the generally followed 38.2 and TP2 at 61.8%... according to cypher rules...
So I do not think anything was wrong, unless somebody is working with propriatery SL TP placement. In that case I agree with kor4x. But even then, the technique to decide is still what I stated.
And of course, do not believe anybody anything, until you test it and prove it to yourself, working with the rules you selected!
As everything in this business it is up to you of course.

USDCHF finally gives bullish signal for next week ...D= Bullish Engulfing....W = hammer

Originally Posted by paulselvan

USDCHF finally gives bullish signal for next week ...D= Bullish Engulfing....W = hammer

Hi Paul, I hate to look at things before closing Friday, but do you have any bull harmonic pattern there as well?
As I look at it now on H4 I just have an "ugly" bear shark @ fib 100% viable for a shark up to 113%. I am not checking it in details before the weekend, but pls. consider.
I do not seem to find any bull pattern though. I do see nice and promising HTF support zone...
I do not know if and how to fit into the conspiracy theory, but EurChf H1 seems to have a nice H1 bear bat... but again it is Friday late afternoon... I do not bother with it.
Have a nice weekend.

Originally Posted by kor4x

of course ;-) ... if we imagine using SL=100p and TP=1p ...this may lead to 99% success ratio of any price pattern

just guys do not get caught by the marketing type of 80+ % success ratios (especially when no further details are provided)

kor4x, do not measure the ultimate succes in anything else, than long term profitabilty! So I would suggest measure the pattern success rate in hard currency as well.
I 100% agree "do not get caught by marketing type of" ... any... try it, test it, measure it, and then decide.
Even if somebody`s statistical data provided, it will mean nothing to others for any strategy or pattern, due to interpretation and consistency of following specific rules.
No question about it.
I wonder how come, you did not mention discipline and following the rules/plan, along with the risk management - I think that one is at least as important, isnt it?

Originally Posted by lobogabor

Hi Paul, I hate to look at things before closing Friday, but do you have any bull harmonic pattern there as well?
As I look at it now on H4 I just have an "ugly" bear shark @ fib 100% viable for a shark up to 113%. I am not checking it in details before the weekend, but pls. consider.
I do not seem to find any bull pattern though. I do see nice and promising HTF support zone...
I do not know if and how to fit into the conspiracy theory, but EurChf H1 seems to have a nice H1 bear bat... but again it is Friday late afternoon... I do not bother with it.
Have a nice weekend.

...H4 ugly patterns :LOL