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The Walzer is thought to "set and forget". There is no trade management - nor stop
moving during all the trade. The SL is meant as disaster stop in a optimal distance.
If all the rules are like this - the system can work fully automated.
The motto is: Let the market play it out and cash in what the market wants to give!
I was asked why I did not take the Walzer on friday afternoon.
Facts: First candle had open-close of 92 points and second candle of 86,5 points
while both candles had very high Hi-Lo values.
This smelled as a overreaction of Momentum which will not be consistent for the
next coming bars.
That is why I did not take that one - even we can see the signals in the chart:
first candle turned to pink and second candle got the signal (red diamond) on top.
There are 3 main questions about the Walzer - when a signal occurs.
1) Is there a "overnight Walzer"?
If a signal comes on the last candle of the future and on next day it triggers a
Walzer signal - then:
NO there is no overnight Walzer
2) Is there a Walzer on ECB days?
On days when the ECB president is talking about ECB decision and explaining the
results - normally price might move erratically:
NO there is no Walzer because it can be triggered and lands in stop loss. Such
pattern is not given under normal circumstances.
3) Is there a Walzer on triple witch days?
On triple witch days some bigger market players might come in to bring prices to
their foreseen levels with quite some effect - normally price might move erratically:
NO there is no Walzer because it can be triggered and lands in stop loss. Such
pattern is not given under normal circumstances.
Those 3 special rules are here to omit negative results.
GFIs1
PS: will update initial post 1 of this thread with that addendum.
yesterday at 14:00 first candle 52 pts, 14:30 second candle 20 pts and you didn't take the walzer (correct as afterwards proved).
Do you have a minimum percentage for the second candle in relation to the first in order to take (or reject) the walzer, or your decision is based on other criteria too (overreaction, move possible exhausted, shape of the candle etc..)?
The signal came in as you state. But I decided this time to not take the trade as price touched the upper cloud of 30min.
Right there the cloud is very thick - we have seen that this support was only overgaped during the night.
A rare occasion for that Walzer - but decision was good.
