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Project Spio Trading system & Journal -Deadly accurate


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Project Spio Trading system & Journal -Deadly accurate

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  #1 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Okay, This is a system which I developed, by mixing around indicators and learning a different way to use them.
This journal is a record of how my system develops and scores and the trades that I make will be posted here.

Okay, let's get started by describing my system:


Timeframe: H1


Project SPIO Trading system.

This system is incredible accurate and stop loss of being about 10 pips (3-6 pips dead accuracy)
Reason being is that it does not lag at all, you will be placing your trades at the end of a trend or at the end of a retracement, every time, no longer will you have to cope with big fat stops of 30, 50,80 or 100 pips just to wait out a few more retracements for being too late or too early.
(10 pips is to cover your spread and just in case you use emotions to enter the trade too early)

This system is based ENTIRELY on Fibonacci,
1 .It comprises of EMAs based on Fibonacci to as a dynamic support/resistance

2. It comprises of Fibonacci based Pivot points based on Fibonacci Extensions and Fibonacci Exhaustion cycles.

3. Then we have this indicator called Multi-wave W, Multi-Wave W is not a lagging indicator, it is actually a leading indicators. This indicator does not lag, instead, it actually leads Price Action itself.
Reason being is that, this indicator is actually a Fibonacci based indicator, as we all know, price moves based on Fibonacci and in Eliot’s wave theory. This indicator does just that, it calculates WHEN a Fibonacci cycle exhausts, and it goes deep into 5 or 4 waves and sub-waves to calculate out each independent waves’ Fibonacci cycle and extension levels.
Once we have all these waves’ Fibonacci cycles ending at the same time, the indicator indicates this as all the lines being converged together in a single dot and this pin-points just where price is about to make a reversal due to exhaustion of Fibonacci.
Therefore, all you have to do for Fibonacci-W is to look out for convergence at price extremes, above the -11 line for short and below the -89 for long.
Next, this indicator also indicates whether this move is just a mere retracement or whether it is a solid reversal.

4. Lastly, the fourth tier, we have the Multiwave-X, We have used Multi-wave W to place us into an entry. But how do we exit? Do we hold and let it run? Or do we exit with a mere 8 pips profit or -1 pips loss responsibly once we find out it’s just a slight retracement and that we’re too early by at most 3 bars?

This is where Multi-wave X comes in, Unlike Multi-wave W, the 3 lines in Multi-wave X are all individual lines and are in no way related to each other like in Multi-wave W, it is basically a compilation of several indications into one channel.
This indicator tells us the Strength, the longevity and the exhaustions of a trend, it provides us inside on whether there is a trend continuation or whether the trend has become a complete exhaustion, and it displays it all in just 3 lines and it is actually virtually easy to read SINGLE indicator.

This, accompanied with single price action formation bars, will bring you much success. I will continue on this in awhile.


For now: If you are interested in this system and want to use it, you can join me in my facebook page with just a few others on this remarkable system, and we can discuss much more there.

At now, I'll be posting how to use this system, entry and exit, and my trades using this system in this thread in awhile.






Descriptions Aside.
Let's get started:

To get started, first off, This guide is PRICE ACTION.
Although there are indicators, Don't be fooled, this are actually not indicators.

THEY ARE SUPPORT/RESISTANCE Based on fibonacci exhaustion points.
They are not only lagless but actually appear 1 or 2 bars BEFORE PRICE ACTION itself.

So all you have to do is, once you've spotted it, either wait for price action to finish or you place a reverse order at the fib-based pivot point cause you know the price will reverse right there and then so you dont have to wait price action to form and can reduce your stop loss to 6 pips or so.

TF - H1 and above.


1st tool - Price action itself.
There are many price action bars to look out for, we are just looking for trend weakening and reversal patterns.

2nd tool - Fibonacci based pivot point.

3rd tool - Multiwave - W

4th Tool - Multiwave - X

5th tool - Special fibonacci drawing technique.



Price action - Used to make trade decisions
(Sometimes I dont wait for PA to form since I know that the price will reverse once the other conditions are met and it touches the fibo pivot)

Engulfing bars.
Pin bars
Inside 4 bar formation

You should know what pin bar and engulfing bar is.
Desc of Inside 4 bar formation - An inside bar is formed and that it is the smallest out of the 4 previous bar including itself.

These are reversal signals to take note of.
I don't want to go in depth to price action, since I've already abandoned price action as this system actually moves faster than price action itself since its based on fibonacci - price action is based on fibonacci and eliot waves.



FiboPivots -

Its an auto pivot point indicator which places horizontal line at fibonacci areas, much more reliable than retail pivot points. Look at attached picture( green horizontal lines)
Is being used as Entry area and TP area.

Usage:
Entry: When all signals are OK on the multiwaves , its no surprise that the price is lingering around and approaching one of the fib lines.
These lines are like a MAGNET which attracts and repels the price.
PROVIDED THAT THE MULTIWAVE INDICATORS ARE READ CORRECTLY, We shall place an order in the direction of the multiwave indicator as soon as the price touches the fibopivots.

No need to wait for bar close, it will only increased your SL and that this system is [email protected]#[email protected]# accurate!

EXIT:
You get "profitted-out" to exit.
Whenever price moves through this line + 15 pips and closed ahead of it, you move your stop loss to the line that it has passed through +- 15 pips back. So it is like a trailing stop, and you get trailed out which is usually due to the cause of retracements, and you will then re-enter again at the end of the retracement.


Multiwave - W

The core of the system, Get's us in the right trades 85% of the time, when confluenced with the fibopivots and Multiwave-x, I have never ex[erience a losing trade before, 100% accuracy.
To be conservative, I'll just say 95% edge.

ENTRY:
SITG formation
Snake - in the grass formation.
Pictures included. cropped out from the attached larger picture

SELL:



BUY




What to see for?
this pattern here >


The lines converge into a single dot,
The tighter the better.
If possible, it has to be at the extreme levels,
Next it then goes down and uses the -40 or -60 line as S/R and goes back into the extreme level to form a V shape as seen.
Now, This SECOND ENTRY back into the extreme levels means that you can place your trade here as soon as it exits the extreme level.

Don't worry, it does not lag, in fact, price action has not even formed yet but you already have gotten the signal.

WHAT YOU DO NEXT: PRICE ACTION WILL FORM DIRECTLY AFTER THIS AND THE TREND WILL CHANGE TO THE INDICATOR'S DIRECTION, SELL IN THIS CASE.
Or, you can just place a pending order right at the fibot pivot to get in right at the tip of the trend



Usage to filter out noise and fake price action setups.

If the lines are all squigly like some crazed up spaghetti, this means that the price action being formed is just noise and that you should avoid it.
AVOID TRADING NOISE
Examples of noise below

Oohhh a price action to go down? NOT, ITS NOISE!



Noise telling you to go down. But market reversed after that.







OMG A PIN BAR GOING DOWN. LETS SELL THAT SHIT!
oops, it was noise.






EXIT: Use same pattern for exit, STOP AND REVERSE.

SUMMARY: Use pattern to enter, Use pattern to exit.


EXAMPLE TRADES




After:














Big picture.
Remember: The signals do not lag, they come before Price action!





Continue on further posts below.





Other details:
Accuracy: about 85% accuracy
10% are trades which are of -1 to -6 stopped.
5% are trades which hits the full 15 pips stop loss.
Rarely, just be disciplined and follow the system and you may end up with 100% accuracy.

Stop loss: about 15 pips.
Take profit: Depends on the strength, and the indicators
Can go from 90 pips to 500 pips.
Averagely 160 pips to 200 pips.
Therefore R/R ratio is about 1:10 on average.
Usually I get more RR cause most of the times I just set my stop loss to just 6 pips.

Attached Files
Register to download File Type: ex4 FiboPivots.ex4 (7.7 KB, 144 views)
Register to download File Type: mq4 FiboPivots.mq4 (6.1 KB, 149 views)
Register to download File Type: ex4 MultiWave-W.ex4 (3.5 KB, 139 views)
Register to download File Type: mq4 MultiWave-W.mq4 (2.0 KB, 172 views)
Register to download File Type: ex4 MultiWave-X.ex4 (8.3 KB, 122 views)
Register to download File Type: mq4 MultiWave-X.mq4 (6.4 KB, 150 views)
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The following 6 users say Thank You to Nasdin94 for this post:

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  #3 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received


Okay, this is a list of fib levels. For you to set your fib settings to

0.146
0.236
0.382
0.447
0.486
0.5
0.618
0.707
0.786
0.886
1.0
1.128
1.272
1.414
1.618
1.764
2.0
2.236
2.618
3.142
3.618

Basically, you can plot EMA lines based on these levels.
E.g for 0.618 fib level, you plot a 62 EMA line on close.
There you have it! A MOVING FIBONACCI LINE!

No wonder EMAs work! They are just bouncing off from fibonacci retracements and projections!

Anyways, go ahead and program this values into your fibonacci retracement tool

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Problem with Fibonacci retracement..

In drawing fibonacci retracement, there is no limit to how long it can be stretched, there is no definite answer.
And if there is no definite answer, all we can do is to just guess, and hope that the retracement ends right at THAT level, but what if it didnt, and that it was a retracement coming from a higher TF wave and not a retracement from your TF? You're doomed, it was a retracement from the daily chart's wave.



SPIO SPECIAL METHOD OF PLOTTING FIBONACCI:


Instead of plotting from the wick of the higher high to the wick of the lower low(as what "gurus" say)
Even though, we can't really get a definite answer on which is really the HH and which is the LL.


Therefore, this may offend you but.. This is the method:

In an uptrend, plot the fibonacci as you would in a downtrend on the retracements of the uptrend.
In the downtrend, plot the fibonacci as you would in a uptrend on the retracements of the downtrend.

The 261.8 level will be EXACTLY WHERE PRICE WILL FIND RESISTANCE/SUPPORT AT. Pip-ed Accurate.
Other levels include: 2.00 level and 161.8 level.
This happens sometimes to give you a "Second chance" to place a second trade to tp at the same 261.8 level.
OR You plotted the retracement too big, taking account 2 retracements at once ( plot only at the same colour)

You will also notice that any other retracement that forms during its path to 261.8 will most likely position its own size such that both retracements have the same Take Profit level, both at 261.8, or 1 at 161.8 and the 1st one at 261.8 converging together.

If a bigger retracement forms, this is a symbol of trend continuation, and you can shift your take profit to that bigger retracement's 261.8 level or 2.00 level.
You would also realize that the new bigger retracement's 261.8 level is actually the same as the previous retracement's 3.142 or 3.618 level.
Interesting heh? Everything in the market is related to one another.




This method can be used for: Finding future support/Resistance, Finding EXACTLY WHERE A RETRACEMENT WILL END BY PLOTTING a this method on a few waves before.

This method, is way better than fibonacci extensions/projections and retracements.
Extensions and Projections require that you know what fibonacci retracement it is being bounced up from, thats where the problem is because you don't really know which wave's retracement is the price reacting to.

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Now that we have covered the fibo pivots, and the Multiwave W, followed by the special fibonacci technique.
Remember: this technique is used to take profit, and to predict future price support/resistance levels.

Now This post here will introduce you to Multiwave -X.

What is Multiwave - X?

It is made out of 3 individual indicators compiled into one channel.
It shows the Strength, the longevity and the exhaustions of the trend.
Simply put, it tells us when to let the trade profit run and when to stop and reverse.

Okay let's see what we have here.
We have 3 coloured lines. - No shit sherlock!


Yellow line -
Blue line -
Red line -


WORK IN PROGRESS

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  #6 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Now I will summarize it all up,

For entry and for exit, all the rules, all the methods to add in more contracts to your current trades etc.
*Space is reserved for future development cause I'm too tired to post all the strategies now*

Below is how your screen should look like.

As for facebook, You can join in our discussions at" Save the People Investor's organization " facebook page. Free.
Everything's free.

Entry:

Exit:









AFTER THIS POST, THERE WILL BE NO MORE TUTORIALS, JUST MY PREVIOUS POSTS WHILE TRYING TO FIGURE OUT THE SYSTEM.
In which I did, and now I'm posting it all here.

Tutorial end.
Enjoy trading!

In all things, give thanks. I don't want your money, I have enough, I just want your thanks.




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 Big Mike 
Site Administrator
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Platform: Custom solution
Trading: Futures & Crypto
 
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Posts: 50,138 since Jun 2009
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1) Please confirm you are a vendor.
2) Please post all indicators you are using in open code format.
3) Please confirm that you have nothing for sale of any kind, no service, no consulting, no indicators, no system.

Mike

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received


Big Mike View Post
1) Please confirm you are a vendor.
2) Please post all indicators you are using in open code format.
3) Please confirm that you have nothing for sale of any kind, no service, no consulting, no indicators, no system.

Mike


Hmm?
Vendor? I'm not selling anything.
I'm just listing down the development of my strategies here.

Hmm, the indicators might be copyrighted but I'll try to post them here once I think it's fine by the author.

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received


Nasdin94 View Post
Hmm?
Vendor? I'm not selling anything.
I'm just listing down the development of my strategies here.

Hmm, the indicators might be copyrighted but I'll try to post them here once I think it's fine by the author.


I'll post the strategies in summary form and the attach the indicators on the 1st thread post once I've got everything in this system figured out,
I don't want anyone losing money cause its not completed yet.

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 Big Mike 
Site Administrator
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Trading: Futures & Crypto
 
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Posts: 50,138 since Jun 2009
Thanks: 32,638 given, 98,942 received



Nasdin94 View Post
Hmm?
Vendor? I'm not selling anything.
I'm just listing down the development of my strategies here.

Hmm, the indicators might be copyrighted but I'll try to post them here once I think it's fine by the author.

What is SPIO Investors, since it is not you?

Mike

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For the best trading education, watch our webinars
Searching for trading reviews? Review this list

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Support our community as an Elite Member:
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Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote


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