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-   -   Follow the monthly candle and be profitable (https://www.forexfactory.com/showthread.php?t=505135)

Robinho Sep 19, 2014 3:31pm | Post# 1

Follow the monthly candle and be profitable
 
1 Attachment(s)
Just follow the previous monthly candle


Monthly candle closes red: We will place a sell stop pending order 20 pips below the opening price of the new monthly candle with 60 pips TP and 100 pips STOP.

Monthly blue candle closes: We will place a pending order buy stop 20 pips above the opening price of the new monthly candle with 60 pips TP and 100 pips STOP.


27 Pairs: eurusd,gbpusd,audusd,nzdusd,eurjpy.gbpjpy.audjpy,nzdjpy,euraud,gbpaud,usdcad,eurcad,gbpchf,usdchf, usdjpy,eurnzd,gbpnzd,audcad,audchf,audnzd,cadchf,cadjpy,chfjpy,gbpcad,nzdcad, nzdchf e usdsgd.

Working only 30 minutes per month. +860 pips

See the results of September.
Click to Enlarge

Name: Resultado 09 2014.png
Size: 302 KB

Robinho Sep 19, 2014 5:38pm | Post# 2

Subscribed.

I do not understand

Rahimseven Sep 19, 2014 10:30pm | Post# 3

Why only a 60 pip target? I'll give it a look.

Simple and sweet.

How far back have you seen positive results?

fredgold3434 Sep 20, 2014 12:51am | Post# 4

hi
its good system i think.have you ever thought about weekly or even daily candles?
regards
fred

ryslis01 Sep 20, 2014 1:13am | Post# 5

Just follow the previous monthly candle Monthly candle closes red: We will place a sell stop pending order 20 pips below the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. Monthly blue candle closes: We will place a pending order buy stop 20 pips above the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. 27 Pairs: eurusd,gbpusd,audusd,nzdusd,eurjpy.gbpjpy.audjpy,nzdjpy,euraud,gbpaud,usdcad,eurcad,gbpchf,usdchf, usdjpy,eurnzd,gbpnzd,audcad,audchf,audnzd,cadchf,cadjpy,chfjpy,gbpcad,nzdcad, nzdchf...
Please explain better. Therae are daily or montly candles. Your report indicates the daily ones.
Regards.
Ryszard

johnblake Sep 20, 2014 2:23am | Post# 6

The chart you have provided above show the time frame as Daily, not monthly.
Please describe your method in detail.

John

vlady1974 Sep 20, 2014 2:34am | Post# 7

The date is at the start of the month, guys. Look and understand first!

billytt Sep 20, 2014 2:35am | Post# 8

Just follow the previous monthly candle Monthly candle closes red: We will place a sell stop pending order 20 pips below the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. Monthly blue candle closes: We will place a pending order buy stop 20 pips above the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. 27 Pairs: eurusd,gbpusd,audusd,nzdusd,eurjpy.gbpjpy.audjpy,nzdjpy,euraud,gbpaud,usdcad,eurcad,gbpchf,usdchf, usdjpy,eurnzd,gbpnzd,audcad,audchf,audnzd,cadchf,cadjpy,chfjpy,gbpcad,nzdcad, nzdchf...
This is a very good trading method,
A lot of signal providers use this method but camouflage it.
Weekly charts work too.
I personally trade daily but my aim is different,(obviously I want pips)
I have no history for trading so many pairs at same time and do not be afraid to adapt method to your own style.
Say thanks to Robinho for posting this good thread,

vlady1974 Sep 20, 2014 2:36am | Post# 9

Just follow the previous monthly candle Monthly candle closes red: We will place a sell stop pending order 20 pips below the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. Monthly blue candle closes: We will place a pending order buy stop 20 pips above the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. 27 Pairs: eurusd,gbpusd,audusd,nzdusd,eurjpy.gbpjpy.audjpy,nzdjpy,euraud,gbpaud,usdcad,eurcad,gbpchf,usdchf, usdjpy,eurnzd,gbpnzd,audcad,audchf,audnzd,cadchf,cadjpy,chfjpy,gbpcad,nzdcad, nzdchf...
Its a good breakout system. I would monitor it daily. Some could say, dispense with the stoploss and hedge against until a smaller timeframe signal allows you to exit both hedge trades. But 100 pip risk on the table would have to be moved pretty quickly, I imagine.

billytt Sep 20, 2014 2:36am | Post# 10

The chart you have provided above show the time frame as Daily, not monthly. Please describe your method in detail. John
Hi, some people have to be spoon fed and no doubt it will get worse, be good

vlady1974 Sep 20, 2014 2:38am | Post# 11



{quote} This is a very good trading method, A lot of signal providers use this method but camouflage it. Weekly charts work too. I personally trade daily but my aim is different,(obviously I want pips) I have no history for trading so many pairs at same time and do not be afraid to adapt method to your own style. Say thanks to Robinho for posting this good thread,

billytt Sep 20, 2014 2:40am | Post# 12

{quote} Its a good breakout system. I would monitor it daily. Some could say, dispense with the stoploss and hedge against until a smaller timeframe signal allows you to exit both hedge trades. But 100 pip risk on the table would have to be moved pretty quickly, I imagine.
hi, It is good method only trouble is , it is monthly so if one is impatient the days will drag and I agree stop loss will have to be shifted quick but it is up to individual to make method their own to suit style

smash1820 Sep 20, 2014 2:56am | Post# 13

Interesting.

But what happens if a pair decides to reverse in the middle of the month? No doubt you will lose money (or best case, break even), because those types of reversals can only be spotted using smaller TFs, much less than Monthly.

On that same note, I would imagine this method works well in trending markets, but you will get raped in ranging markets.

I think your system needs a lot more testing still... but just my 2 cents!

The markets are dynamic and I think any trading system needs to be too.

The past does NOT and CANNOT predict the future. But it can give you a decent approximation of what to expect.

oyaks Sep 20, 2014 2:57am | Post# 14

I think it will work fine on weekly if only a very aggressive trailing EA is applied on the trades then the issue of stop loss been hit will be minized

billytt Sep 20, 2014 3:15am | Post# 15

Interesting. But what happens if a pair decides to reverse in the middle of the month? No doubt you will lose money (or best case, break even), because those types of reversals can only be spotted using smaller TFs, much less than Monthly. On that same note, I would imagine this method works well in trending markets, but you will get raped in ranging markets. I think your system needs a lot more testing still... but just my 2 cents! The markets are dynamic and I think any trading system needs to be too. The past does NOT and CANNOT predict the future....
It all depends what you want to take from the method, trending/ranging it doesn't matter, if you expect too much you'll fail, just milk it. you are right the past cannot predict future but you look at all the pros/news they always talk about highs and lows

smash1820 Sep 20, 2014 3:30am | Post# 16

It all depends what you want to take from the method, trending/ranging it doesn't matter, if you expect too much you'll fail, just milk it. you are right the past cannot predict future but you look at all the pros/news they always talk about highs and lows
You are wrong. Trending vs. Ranging matters a ton. In fact, as far as this method is concerned, there is nothing more important. Just imagine if this guy bought EU at ~1.40 the month after it topped, because "the trend was up" (or, to be more specific, price was moving up). You still think he would have made money???

If you are not able to spot turning points in the market, you are doomed to failure imo.

johnblake Sep 20, 2014 3:30am | Post# 17

Some months the Markets reverse therefore I suggest placing OCO Buy and Sell Pending Orders.
Better to have Risk to Reward Ratio as 1:1, therefore it may be better to have 100 pips TP and
100 pips SL

billytt Sep 20, 2014 3:53am | Post# 18

1 Attachment(s)
{quote} You are wrong. Trending vs. Ranging matters a ton. In fact, as far as this method is concerned, there is nothing more important. Just imagine if this guy bought EU at ~1.40 the month after it topped, because "the trend was up" (or, to be more specific, price was moving up). You still think he would have made money??? If you are not able to spot turning points in the market, you are doomed to failure imo.
check your chart, e/u may of topped at 14000 but what ??? their was no entry point , the break from previous month was 90 pips max and following month 80 pips max.
I agree entirely trending does matter big time but thread owner is showing monthly breaks, this is a very good method.
It looks like some people wanting something for nothing and being a pro troll, be goodClick to Enlarge

Name: eu.PNG
Size: 60 KB

edit,,, we do have losers it is expected sometimes, but that is trading

Robinho Sep 20, 2014 7:31am | Post# 19

Why only a 60 pip target? I'll give it a look. Simple and sweet. How far back have you seen positive results?
I put this goal ... but had peers who were 400 + pips;;; it is each ...

Robinho Sep 20, 2014 7:33am | Post# 20

hi its good system i think.have you ever thought about weekly or even daily candles? regards fred
Also you can work with weekly or monthly ... but at,,, monthly work only 30 minutes a month .... and the results are more consistent


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