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Quad Candle System

  • #821
  • Jul 27, 2017 9:22am Jul 27, 2017 9:22am
Quoting Masterrmind
{quote} NZDUSD [D1: Zoomed out] {image} Fibonacci retracement of the bigger swing shown on the chart puts the 61.8 ratio right at the 8/8 MML or close enough to the 78 handle. Price action also worth a look. Confluence! Masterrmind...........
Even more helpful now, I did post and put it on the radar last weekend but it drew no comments ! I am also in the NJ
  • #822
  • Jul 27, 2017 9:26am Jul 27, 2017 9:26am
GBPCHF [Close trades or keep open]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 51 KB

What do you all think ?

Almost 400 pips from the 3 longs.

Masterrmind..........
Master your Mind then Master your Trades
  • #823
  • Jul 27, 2017 9:28am Jul 27, 2017 9:28am
Quoting OAPDave
{quote} Even more helpful now, I did post and put it on the radar last weekend but it drew no comments ! I am also in the NJ
Yes I'm following your entries.

Masterrmind...........
Master your Mind then Master your Trades
  • #824
  • Jul 27, 2017 9:34am Jul 27, 2017 9:34am
Quoting Masterrmind
GBPCHF [Close trades or keep open] {image} What do you all think ? Almost 400 pips from the 3 longs. Masterrmind..........
No response before I rest for the day.

I guess I'll just have to let them run on.

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #825
  • Jul 27, 2017 9:54am Jul 27, 2017 9:54am
Quoting Masterrmind
{quote} Quick to pass judgement even before the first 2 trades are closed out. Even if the 2 trades are stopped out does this suggest the method is poor? Your assessment of this trading method shows your lack of understanding. A successful trading method is as much to do with the processes as it is with risk management not to mention the discretionary abilities of the trader. The bank will not offer an interest rate anywhere close to the one you suggest and certainly not in my country. Since you mentioned an annual return by a bank then would it...

market makers know this quad candle tricks they like amatuer lie you that you still trade quad candle after 2 months now only you get 3 percent soon this will reduce because your stragety risk reward is poor and accuracy also worst soon you will blowout so who is amatuer ?
  • #826
  • Jul 27, 2017 2:37pm Jul 27, 2017 2:37pm
Quoting gopal33200
{quote} market makers know this quad candle tricks they like amatuer lie you that you still trade quad candle after 2 months now only you get 3 percent soon this will reduce because your stragety risk reward is poor and accuracy also worst soon you will blowout so who is amatuer ?
You realize there are basically no market makers in forex right? Besides shitty brokers? You think central world banks are trying to screw retail investors and scalp pips from them? Until central banks start deploying high frequency trading, nobody has the size to move the market and manipulate Billions/trillion dollar markets.

The only time you get screwed is from traditional brokers who act as market makers, easy solution go to an ECN broker.
  • #827
  • Jul 27, 2017 7:04pm Jul 27, 2017 7:04pm
Quoting gopal33200
{quote} market makers know this quad candle tricks they like amatuer lie you that you still trade quad candle after 2 months now only you get 3 percent soon this will reduce because your stragety risk reward is poor and accuracy also worst soon you will blowout so who is amatuer ?
The market has many risks.

Some controllable and some not.

For example, a trader can place their stops such that a maximum loss of 5% is shown at stop out level but is this really the maximum loss for those trades.

No it is not.

Liquidity or lack of liquidity can cause major negative slippage both on entry and exit from any given trade.

The trader sets the SL but if the stop out price is not filled by the brokerage then huge slippage is possible.

As traders we can simply only manage all the risk as best as we can but there will always be risk associated with trading that is outside our control.

Therefore, the reward to risk ratio can also alter for any given trade.

Thankfully this does not occur very often so for the most part our trades on the major pairs get into and out at our requested price subject to some small slippage and spread if applicable.

Do not worry about the gains my account makes ir doesnt make... better that you focus on the teachings I present in this thread as they will surely serve you well.

Masterrmind........
Master your Mind then Master your Trades
  • #828
  • Jul 27, 2017 8:05pm Jul 27, 2017 8:05pm
Quads (careful its the last trading day of the week)

EURNZD
Attached Image (click to enlarge)
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GBPNZD
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NZDCAD
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Masterrmind...........
Master your Mind then Master your Trades
  • #829
  • Jul 27, 2017 8:10pm Jul 27, 2017 8:10pm
Quoting Masterrmind
GBPCHF [Close trades or keep open] {image} What do you all think ? Almost 400 pips from the 3 longs. Masterrmind..........
GBPCHF [Update]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 60 KB

Price has now charged up to the 4/8 MML in early Asian trade.

Last day of the week so not all that keen to add in the double entry.

If I keep the 3 trades open I may make the entry early next week subject to any weekend gapping impact on the upward progress of price.

If price breaks out above the 4/8 MML and looks to remain above the level all 3 stops may be tightened up to just under the 3/8 MML and chart structure zones in support mode.

I may close out Trade #1 to take some profit and let the other 2 trades run on.

Stay tuned.

ps. I'm so pleased that you all decided that I should keep all 3 trades in action ... well done ! ...

Masterrmind..........
Master your Mind then Master your Trades
  • #830
  • Jul 27, 2017 8:27pm Jul 27, 2017 8:27pm
Quoting Masterrmind
{quote} GBPCHF [Update] {image} Price has now charged up to the 4/8 MML in early Asian trade. Last day of the week so not all that keen to add in the double entry. If I keep the 3 trades open I may make the entry early next week subject to any weekend gapping impact on the upward progress of price. If price breaks out above the 4/8 MML and looks to remain above the level all 3 stops may be tightened up to just under the 3/8 MML and chart structure zones in support mode. I may close out Trade #1 to take some profit and let the other 2 trades run...
GBPCHF [Update]
Attached Image (click to enlarge)
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I have now moved the stop on Trade #1 up tight closer to the 3/8 MML zone and locked in 200 pips.

Very likely that I will close this trade out at close to the +300 pip mark.

Masterrmind..........
Master your Mind then Master your Trades
  • #831
  • Jul 27, 2017 8:53pm Jul 27, 2017 8:53pm
Quoting Masterrmind
{quote} GBPCHF [Update] {image} I have now moved the stop on Trade #1 up tight closer to the 3/8 MML zone and locked in 200 pips. Very likely that I will close this trade out at close to the +300 pip mark. Masterrmind..........
GBPCHF [Update]
Attached Image (click to enlarge)
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Trade #1 has been closed out at the 4/8 MML for +307 pips.

Masterrmind............
Master your Mind then Master your Trades
  • #832
  • Jul 27, 2017 8:57pm Jul 27, 2017 8:57pm
Quoting Masterrmind
{quote} GBPCHF [Update] {image} Trade #1 has been closed out at the 4/8 MML for +307 pips. Masterrmind............
GBPCHF [Update]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 51 KB

Trade #2 and Trade #3 continue to run on at this stage.

Masterrmind...........
Master your Mind then Master your Trades
  • #833
  • Jul 27, 2017 9:47pm Jul 27, 2017 9:47pm
Quoting Masterrmind
{quote} GBPCHF [Update] {image} Trade #2 and Trade #3 continue to run on at this stage. Masterrmind...........
GBPCHF [Update]

All trades now closed out close to the 4/8 MML.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 53 KB

Trade #1 +307 pips
Trade #2 +114.8 pips
Trade #3 +200.5 pips

Total pips gained = 622.3 pips.

Masterrmind...........
Master your Mind then Master your Trades
  • #834
  • Jul 28, 2017 2:56am Jul 28, 2017 2:56am
Quoting Masterrmind
{quote} GBPCHF [Update] All trades now closed out close to the 4/8 MML. {image} Trade #1 +307 pips Trade #2 +114.8 pips Trade #3 +200.5 pips Total pips gained = 622.3 pips. Masterrmind...........
True Masterclass on how to trade, thank you for walking me step by step though the trade and what a great result, NEXT TRADE NOW PLEASE ?
  • #835
  • Jul 28, 2017 3:21am Jul 28, 2017 3:21am
Quoting OAPDave
{quote} True Masterclass on how to trade, thank you for walking me step by step though the trade and what a great result, NEXT TRADE NOW PLEASE ?
Next week should bring more opportunities so keep a look out.

Trade will once again be outlined before the fact and traded on the live account visible to all.

If today was not the last trading day of the week might have held Trade 2 and 3 longer but would have closed out Trade 1for the 3% gain.

Anyway its the end of the week and all trades taken for some profit and no risk currently on the account.

Looking forward to next week and will look to trade a more common major but a big mover if possible but I will do some analysis over the weekend and post a few potential pairs worthy of trading.

Good trading,

Masterrmind..........
Master your Mind then Master your Trades
  • #836
  • Jul 28, 2017 6:21am Jul 28, 2017 6:21am
Quoting Masterrmind
{quote} GBPCHF [Update] All trades now closed out close to the 4/8 MML. {image} Trade #1 +307 pips Trade #2 +114.8 pips Trade #3 +200.5 pips Total pips gained = 622.3 pips. Masterrmind...........
GREAT Stuffff
  • #837
  • Jul 28, 2017 7:10am Jul 28, 2017 7:10am
Quoting danc
{quote} GREAT Stuffff
Many more to come.

Masterrmind........
Master your Mind then Master your Trades
  • #838
  • Jul 28, 2017 8:27am Jul 28, 2017 8:27am
Quoting Masterrmind
{quote} GBPCHF [Update] All trades now closed out close to the 4/8 MML. {image} Trade #1 +307 pips Trade #2 +114.8 pips Trade #3 +200.5 pips Total pips gained = 622.3 pips. Masterrmind...........
Well done Masterrmind
I am in the same trade, but unfortunately, my way to handle the trade was not so smart
Two of the three positions have been stopped out with -250 pips and -48 pips
The third position is still alive with + 186 pips

I reviewd the chart to understand if and where I made mistakes and I frankly think that I can accept the loss
My original stop where at 1,21751...after the new high of the 14 July, I thightened the stop at 1.23178 under the recent low ( with a breath of more than 300 pips from the price at that time ). At that level the price would have made a lower low on a daily chart, so I individuate that point as the right exit point. Then, a big and fast down move took my two stops....before going up again. It was not the right exit point
This time for me things did not go right, but I think I operated in a manner that sounds logic ( for me )
Since I wish to put the stop at a logical levels and not at a fix number of pips, in the future, I should be more patient and open less trades in order to avoid to be over exposed

Thank you for your great work. I was not so active in the last days because I had free time with family, but as possible as I can, I put an eye on this useful thread to see the comments of you all
  • #839
  • Jul 28, 2017 8:47am Jul 28, 2017 8:47am
Quoting Eldero
{quote} Well done Masterrmind I am in the same trade, but unfortunately, my way to handle the trade was not so smart Two of the three positions have been stopped out with -250 pips and -48 pips The third position is still alive with + 186 pips I reviewd the chart to understand if and where I made mistakes and I frankly think that I can accept the loss My original stop where at 1,21751...after the new high of the 14 July, I thightened the stop at 1.23178 under the recent low ( with a breath of more than 300 pips from the price at that time )....
What a thoughtful and honest post on a personal trade, Eldero you have my total respect
  • #840
  • Edited 5:59pm Jul 28, 2017 5:47pm | Edited 5:59pm
Quoting Masterrmind
{quote} Harmonics are simply commonly occuring patterns that the market makes due to price action. What makes them useful is the fact that they very often repeat themselves and have uncanny accuracy. Especially the simple 1 to 1 projections ie the ABCD pattern. For example, price might move up 100 pips from some Point A (typically a swing low area for an upward move or vice versa for a short harmonic move) to Point B then pullback 60 pips to some Point C and then continue up 100 pips to Point D, where AB pips equals 100 and CD pips equals 100. Important...
If you recall I've been looking at zig zags and yes I take onboard that they are not correct Harmonics but I have attached them to both your G/C trade and my N/U, I will be the first to admit you traded the G/C spot on, in the early days of the trade you asked me for a comment I replied with Post 727 & 756 well now I have taken the liberty of adding ZZ to both trades, as you can see I am well late entering my trade but in the correct place to take the Buy the ZZ would have given me a manageable stop, and I am happy were it sits within the MM structure, well you know my thoughts on Chf and Gbp with Brexit (which makes your trade even more outstanding) you can see were I would have entered which would make my stop far to large to take the trade at present or I would have to use the MM levels as stops. I will just add the 60min view as well as the Daily with the same setting Monthly & Weekly are worth a look ?
Attached Image(s) (click to enlarge)
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