Here's some testing I did yesterday: second column is the 3rd contract which is stopped out. This is just hypothetical tests, it wasn't done bar-by-bar and you wouldn't get this in real trading. Now let's do a what if.. Getting stopped out, even with a small stop loss of 11 ticks, really hurts with 3 contracts. You need some winners to make up for that. My idea is that we have essentially 0 costs when talking about tick trades.

So the whole thing can be simplified. In the 2nd column the 0's are when it hit a breakeven stop. In many of those cases, price when on to reach ticks or more. So if we hadn't use the breakeven stop the results would have been even better. Here's an example: In this example there was an entry on the next pullback , but this is not often the case.

Imagine that we didn't get that 2nd pullback, we would have missed a 51 tick trade just to have a be stop.

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On a trade where our risk was only 10 ticks. Managing the trade to prevent a 10 tick loss could have prevented a 51 tick gain. That 51 tick gain would pay for five 10 tick losses. In the mean time, I'm not convinced on covering costs and I'm not convinced on moving the stop to BE too quickly. I think this TTE and breakeven stop may not work on a 5min so I tried it on an hourly.

I'm testing the first week of November. I show 3 trades. The first two show a breakeven stop on the TTE would be taken out. The third would not and would have a big gain. I guess I'm not used to that. Note that in most of those the swing pivot isn't taken out so if the stop was there one would have more winners. The following user says Thank You to cunparis for this post: steve Testing out the ross hook.

I will not trade it as he has written in the book, I will adapt it and make it my own method. This is also my first entry of Off to a good start. So off to a great start! There was strong resistance and the low volume bar made me cautious. Days like this make the RH look easy. It's not. It's very subjective and difficult to do real time. I consider it a framework. You have to make that yourself and it is very time-consuming. My exit at breakeven turned out to be, as I previously discussed in the previous posts, a bit premature.

But there was news coming up at so I thought it was best to not take any more risk.

Trading The Ross Hook

Notice how the RH are closer and closer together. Joe says that's the sign of the end. That's a good thing to know. I would like for some others to give it a try and share your charts. Don't be afraid, do it in hindsight, real time, whatever you can do. So I just want to let you know what you're in for if you decide to pursue this. It's not easy but in my opinion it's well worth it.

TRADING THE ROSS HOOK by Joe Ross ( PDFDrive ).pdf

Here's a CL chart from September. I'm using a very similar method. And another: Once you learn this, you can trade any market any timeframe. The only reason I stopped is I wanted to pursue some other ideas and try to reduce risk. Ok your turn to post. Okay my turn I slept last night. This style can be traded on any time frame with any instrument. I attached a chart of 6B from last night noting all the triggers that I would've gotten. I shouldn't have slept, but oh well. I'm not throwing real loot at this until I'm comfortable with it and I'm still figuring out a few of my rules.

My exits and number of contracts are based on some money management rules that I'm still finalizing.

• Points Of Clarificat Ion For Ross Hooks.
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They are pretty close to being finalized but not quite there. Once they are completely hashed out I'll post them as well. Don't ask what the indicators are in panels 2 and 3. I'm still working on this idea and until proven otherwise I'm going to assume they're crap and don't work.

For that reason I don't want to put a bunch of people on a wild goose chase for the holy grail. If they do prove useful I'll gladly share and it will hopefully help others make some money. Hey Blz, Where exactly did you put the sell stop on the second trade? I look for that trade all the time. Why were you waiting only for a short breakout? This was all in hindsight but I pulled up a chart of CL I don't trade CL right now and there was a killer move with great chances to join the ride today using some Brooks knowledge and Ross knowledge. Has a conclusion been reached about this method?

No posts since the 8th, got me curious I agree with Blz. There is some overlap with Ross Hook because my 2 setup see the cycles thread is a breakout on the smaller timeframe. These are also ross hook trades. One final thought: I think the ross hook method works better on higher timeframes. As he says in his book s , if you can trade a higher timeframe like daily chart it's better. My impression is the only reason to go to a lower timeframe is if you cannot handle the risk of the higher timeframe.

The Classic 1-2-3 Pattern: An Underestimated Powerhouse

I believe this to be true. I think the Ross Hook may not work as well with a 5min chart. It's too much noise. On a daily chart I think this happens less. In my cycle method I have found that I do better with swing trades than I do day trades, which supports my theory. So I'm working on finding the optimal timeframe.

For the Ross Hook I'm not sure what that timeframe is, and it'll be different for each market. The euro during the london forex session seems to have a nice swing and pullback.

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But once the NY forex session starts the euro is more correlated with equities and more choppy. I also found that a 3min chart for CL can work ok with ross hook. That's about the limit of my risk tolerance for CL. One more idea: His "Trading by the Book" is very good and talks about trading ranges. It's very important to identify them and not trade hooks in a trading range. The following 2 users say Thank You to cunparis for this post: danathetrader , Trader. I beleive the hook always depends on the time frame I will close You know what you know but you do not know what you do not know.

You do not see things how they are, you see things how you are. In life you do what you want but you do not want what you want.

I also like the Ross Hook - because it is something that helps me to interpret price action - it does not lag as some indicators do. I have been watching a Ross hook indicator on Metatrader. The following 2 users say Thank You to verge for this post: cunparis , sabrinavvv.

Hi, I will try to code it this week-end. Should not take too much time I would be glad to help you on this but I honestly do not have that much time as I am already involved with other projects Really sorry but was not expecting such long code to translate! Hope a good soul will find the path of this thread! Happy trading! Not sure if this helps for day trading but if you have a portfolio that you need to manage and need to be FX biaised , this works great EUR is definitely going down for the moment And nobody will buy that sovereign garbage debt!

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More to come Hi Yes - 21 pages is a lot. There is a lot of unnecessary fluff in the indicator - which is described in the word doc. This is the overview in the doc : " This indicator displays patterns, Ross hooks, and Bollinger band breaks.