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Quad Candle System

  • #1,021
  • Aug 13, 2017 12:44am Aug 13, 2017 12:44am
Quoting simnz
Hi Masterrmind, Because of my extensive experience in options trading (selling directionless positions based on mean-reversion or range trading and doing adjustments to prevent options going into in-the-money ) I don't have any experience with trading with stop loss. In other words, closer to extremes, I would buy back near ITM options covering with premium from sold OTM options . As volatility is high at extremes, it was not difficult to manage EurUsd even during the Brexit time. Even a consecutive rise/fall of 10 days (in an adverse situation)...
A very insightful post simnz.

I also traded and still do options but on a different platform.

The Quad Candle System with MML would likely work well with options.

A very good idea to bring them together.

The main hurdle here though might be the general trading funds that FF members might apply.

In short a far larger account size is needed when options are applied based on margin requirements at a typical brokerage.

I dont really want to put a minimum figure but perhaps 10k to 25k would be a good base to start from with higher being better.

QAM:
An expert for this system is still a work in progress as its rather complex especially the ECTM plugin.

The 4 accounts I currently have trading QAM are not doing that well due mainly to a limited amount of control over the DD when I am absent from the terminal.

I jumped ahead with the 3 live accounts but in hindsight it is not possible to manage all 3 accounts in manual mode with initially up to 100 trades per account but reducing over time as equity% increases.

Trading QAM either by EA or manually with a >10k account is very easy but I wanted to show it could be done on a 1k account which to this day is still proving to be very difficult.

I may end the manual approach on the 3 live QAM accounts very very soon and start them only agter the Expert Advisor is completed in code and testing.

Now back to QUAD:
QUAD is a far different type of trading strategy with the aim of controlling DD and over time adding in extra trades that accelerate growth and ultimately lead to a very low DD compared to the gain.

In fact I seek single digit DD figures throughout the trading life of a Quad Account.

Perhaps later options can be implemented as I like this idea.

Masterrmind..........
Master your Mind then Master your Trades
  • #1,022
  • Aug 13, 2017 3:58am Aug 13, 2017 3:58am
I just noticed this thread and its masterrful insight.

Unfortunately I don't have the time to read it all from the start, what with spending my nights stacking shelves in my local supermarket and my days trading the charts, so could someone please post a template?

Thanks in advance.
The dream will never die
  • #1,023
  • Aug 13, 2017 4:54am Aug 13, 2017 4:54am
Quoting Brotyboy
I just noticed this thread and its masterrful insight. Unfortunately I don't have the time to read it all from the start, what with spending my nights stacking shelves in my local supermarket and my days trading the charts, so could someone please post a template? Thanks in advance.
Simply go to Post 1.

Download the template from the zip folder.

Masterrmind.........
Master your Mind then Master your Trades
  • #1,024
  • Aug 13, 2017 11:55pm Aug 13, 2017 11:55pm
Quads

EURCHF [D1 Quad]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 53 KB

EURGBP [D1 Quad]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 53 KB


Careful with the ADRs as these pairs are generally slower movers.

Masterrmind...........
Master your Mind then Master your Trades
  • #1,025
  • Aug 14, 2017 12:39am Aug 14, 2017 12:39am
MMLs

AUDNZD
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 47 KB

EURUSD
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 52 KB

USDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 50 KB


Do the analysis before entering trades on these pairs.

Masterrmind.........
Master your Mind then Master your Trades
  • #1,026
  • Aug 14, 2017 9:10am Aug 14, 2017 9:10am
CHFJPY

Remember this pair from Post 951 ?
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 55 KB

Now look at it ....

Masterrmind........
Master your Mind then Master your Trades
  • #1,027
  • Aug 14, 2017 2:04pm Aug 14, 2017 2:04pm
Hi Mastermind, I am trying to switch over from CTrader to the MT4 system and I am having trouble loading up the MML lines onto the MT4 system, could you advise on the best method of doing this?

thanks.
Just trying to put a kiss on the cheek of success
  • #1,028
  • Aug 14, 2017 8:55pm Aug 14, 2017 8:55pm
Quoting pet3250
Hi Mastermind, I am trying to switch over from CTrader to the MT4 system and I am having trouble loading up the MML lines onto the MT4 system, could you advise on the best method of doing this? thanks.
Are you able to place the indicators and the templates into the correct MT4 folders?

If so, are you ok with loading a template onto a D1 Chart making sure to refresh the folder?

If you have loaded the template to the D1 chart please post a screenshot so I can see what the issue might be and offer you a solution.

Masterrmind............
Master your Mind then Master your Trades
  • #1,029
  • Aug 15, 2017 3:35am Aug 15, 2017 3:35am
Quads
Attached Image

Masterrmind...........
Master your Mind then Master your Trades
  • #1,030
  • Aug 15, 2017 5:26am Aug 15, 2017 5:26am
Quoting OAPDave
{quote} Constant Octave sizes this does away with chart shifts, grid taken from a Major Murrey number {image} {image} {image}
Looks like you are headed in the MML/Fibonacci direction OAPDave.

Maybe call it an MML-Fib Trading Grid.

Masterrmind...........
Master your Mind then Master your Trades
  • #1,031
  • Aug 15, 2017 5:53am Aug 15, 2017 5:53am
Quoting Masterrmind
{quote} Looks like you are headed in the MML/Fibonacci direction OAPDave. Maybe call it an MML-Fib Trading Grid. Masterrmind...........
I think the 488 pip octive grid looks like the better option to trade because to me I like to see some type of a relationship between the ADR of the D1 candlesticks and the octive gap.

If the D1 candles ADR is too large in comparison to the octive gap then I think getting into a setup might prove difficult.

For example, if only 2 D1 candles cover the octive gap then looking for a reversal type entry is not a simple matter whereas if you take the 488 pip octive gap a clearer price action can be seen from one level to the next and in my view this might produce better entries.

If you decide to take a trade please post the chart as I'm sure it will be very interesting.

If I can clear out of this current GN setup before the month ends then I may start with a much larger account and trade both the Quad Candle System [D1] and the MML [intraday such as M15 or similar].

That way when longer term setups are playing out in the background the immediate focus can be on a faster moving MML intraday setup.

Lets see how the rest of the month pans out.

Masterrmind...........
Master your Mind then Master your Trades
  • #1,032
  • Aug 15, 2017 9:07am Aug 15, 2017 9:07am
Hello, any mid term results available? I would like to test the system.
  • #1,033
  • Aug 15, 2017 11:10am Aug 15, 2017 11:10am
Thanks Mastermind, after refreshing the page i now have it installed.
Just trying to put a kiss on the cheek of success
  • #1,034
  • Aug 15, 2017 11:47am Aug 15, 2017 11:47am
Quoting Masterrmind
Quads {image} Masterrmind...........
where can i have that dashboard?
Valar Dohaeris
  • #1,035
  • Aug 15, 2017 5:12pm Aug 15, 2017 5:12pm
Quoting foff00
Hello, any mid term results available? I would like to test the system.
Current results are displayed in the Trade Explorer attached to this thread and also to my profile.

At the end of Post 1 there is also a link to myfxbook where the trading progress can be found.

It is important to read at least Post 1 in the first place.

Masterrmind.......
Master your Mind then Master your Trades
  • #1,036
  • Aug 15, 2017 5:27pm Aug 15, 2017 5:27pm
Quoting Srikandi
{quote} where can i have that dashboard?
Search via the paper clip icon at the top of the page where you will find a posted dash by another member.

Note that I am in the process of coding the dashboard with many more features that I see as relevant to this Quad and MML trading method.

The final dash is not yet completed and is currently a work in progress.

Masterrmind.........
Master your Mind then Master your Trades
  • #1,037
  • Edited Aug 17, 2017 9:17am Aug 16, 2017 9:55am | Edited Aug 17, 2017 9:17am
Gentlemen -- for anyone but possibly especially OAPDave since he has shown a special interest in working down on the M15 level.

I am really struggling to monitor multiple pairs on multiple time frames (work our way down to M15 from higher TFs). It seems sometimes I am just flipping from screen to screen with little progress. And I can't just sit at my monitor endlessly.

Of course, I could set up maybe 3 or 4 pairs at once and (try to) keep track of just those . . . open markets I imagine.

But am I missing something fundamental here . . . is there a good/better way to manage tracking on some larger number of pairs down at the M15 level?
Of course, on the 1440 this is not so much a challenge with wider octaves and only one candle to monitor over 24 hours.

I am certainly not setting aside the 1440 -- that is really the purpose of Masterrmind's forum here, but it is nice to catch some lower TF movement through the day.

Any thoughts would be gratefully taken on-board for better screen management.


----------------------------- Edit: took screen down to three pairs up. Much better focus . . . and results on M15. Still would be interested in how you guys manage your pair rotations unless you are relying on the original dashboard.

FS
  • #1,038
  • Aug 16, 2017 1:27pm Aug 16, 2017 1:27pm
Quoting Masterrmind
Quads {image} Masterrmind...........
anybody can show me how to set many pairs on dashboard? Mine only show one pair :|
Valar Dohaeris
  • #1,039
  • Aug 18, 2017 1:20am Aug 18, 2017 1:20am
Quoting Forest-Sea
Gentlemen -- for anyone but possibly especially OAPDave since he has shown a special interest in working down on the M15 level. I am really struggling to monitor multiple pairs on multiple time frames (work our way down to M15 from higher TFs). It seems sometimes I am just flipping from screen to screen with little progress. And I can't just sit at my monitor endlessly. Of course, I could set up maybe 3 or 4 pairs at once and (try to) keep track of just those . . . open markets I imagine. But am I missing something fundamental here . . . is there...
Hi FS,

I plan to trade M15/M5 on MML template in the not too distant future so stay tuned for when that happens.

The best way to monitor multi pairs on multiple TFs without flicking through many different charts is a purpose built dashboard that shows what you need to know on the one chart.

Without the dash you might have to limit total pairs to say 4 to 6 but this depends on your available screen time.

The D1 TF is good because far less time is needed as you are well aware but its a very different way to trade compared to LTF intraday setups.

Im afraid there is no quick and easy solution to your problem but I also understand that an intraday approach to trading is ideal for many traders and for many reasons such as limited exposure in the market, in fast and out fast and trade frequency is much greater lending itself to potentially a higher and faster growth rate than a HTF approach where setups unwind slowly.

Its certainly fine by me if OAPDave wishes to expand on his M15 trading approach for MML.

Masterrmind.........
Master your Mind then Master your Trades
  • #1,040
  • Edited 12:04pm Aug 18, 2017 11:49am | Edited 12:04pm
Quoting OAPDave
{quote} Hi, sorry for the lateness in this reply but thought it was only right for you to get Masterrminds thoughts first. As he as said there is no easy way to monitor all pairs in all timeframes so I can only tell you how I do it, If we are talking about the end product being scalping off a 15min chart I do the following, with the aid of numerous profiles and templates
Great weekend to you OAPDave and Masterrmind with much appreciation for your thorough answer.

I would like to ask what kind of screen time you log on a daily basis? It seems it might be quite a number of hours. I am more of less half a world around so my day/night cycle is reversed, and I must focus on the NY/London overlap. I can look in on the Asian session, but it is sometimes quite a bit of watching for minor price movement.

Of course, it is great to track the early hours of London, but I am not much good at 3 am as London kicks off my time. Getting older, I guess.

The more I study MML and Quad trading the more impressed I am with its opportunities. I got here looking for a quality D1 approach and knew just enough about MML to want to dig into this forum. Without sacrificing the D1 I now see numerous opportunities on the M15 and H1 . . . and was interested that MM is now preparing to take action even down to M5. I will look at some examples of that over the weekend.

You and Masterrmind are not just oceans away from me but oceans ahead in your analysis and order placement . . . but I feel I am getting there, and trying to give enough time to trading along with other responsibilities. Still, a bit of the two steps forward, one back here.

They say trading requires patience, and I thank both of you for offering your patience with me.

All good regards, FS
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