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Quad Candle System

  • #1,261
  • Sep 12, 2017 8:08am Sep 12, 2017 8:08am
Quoting OAPDave
Daily Octaves on smaller timeframe charts avoids too many constant chart shifts ? {image} {image}
Yes good call on the D1 constant octave.

Question is where will price go?

Masterrmind..........
Master your Mind then Master your Trades
  • #1,262
  • Sep 12, 2017 8:17am Sep 12, 2017 8:17am
Quoting Masterrmind
{quote} Yes good call on the D1 constant octave. Question is where will price go? Masterrmind..........
That's easy to answer now, the magic Red Button Green Button magnet pip catcher is 99.9% accurate just not sure if to give it away FREE or charge perhaps guys that post 10 charts get a huge discount, what do you think ? LOL
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  • #1,263
  • Edited 10:41am Sep 12, 2017 8:54am | Edited 10:41am
Quoting Masterrmind
{quote} Yes good call on the D1 constant octave. Question is where will price go? Masterrmind..........
Daily & 15min per pair layout ? even down to an extreme 1min if you want ?
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  • #1,264
  • Sep 12, 2017 4:59pm Sep 12, 2017 4:59pm
Quoting Masterrmind
{quote} Great Post. Picking up the inner swings of the higher Tfs is a good call. Might have to get this account charged up and ready to go soon but not sure if I'll trade intraday MML (M15/M5) or D1. Decisions decisions! Masterrmind..........
You decide here is the zoom down to 5min
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  • #1,265
  • Sep 12, 2017 8:14pm Sep 12, 2017 8:14pm
Quoting OAPDave
{quote} You decide here is the zoom down to 5min {image} {image}
I may start up the current account again from next week.

In this regard I plan to demonstrate a continuing D1 Quad Candle System approach but introduce the intraday M15/M5 MML system.

Should be some great trading,

Masterrmind..........
Master your Mind then Master your Trades
  • #1,266
  • Sep 12, 2017 8:50pm Sep 12, 2017 8:50pm
D1 Quads

Look at the CHF and JPY crosses with AUD, NZD and USD.

A bounty of opportunities await.

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #1,267
  • Sep 13, 2017 1:42am Sep 13, 2017 1:42am
Quoting Masterrmind
D1 Quads Look at the CHF and JPY crosses with AUD, NZD and USD. A bounty of opportunities await. Good trading, Masterrmind...........
See how they play out in scalping mode ?
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  • #1,268
  • Sep 13, 2017 5:02am Sep 13, 2017 5:02am
Quoting OAPDave
{quote} See how they play out in scalping mode ? {image} {image} {image} {image}
What is your current plan?

Will you look for an entry?

Masterrmind............
Master your Mind then Master your Trades
  • #1,269
  • Sep 13, 2017 5:25am Sep 13, 2017 5:25am
Quoting Masterrmind
{quote} What is your current plan? Will you look for an entry? Masterrmind............
Yes but my area of interest is the +/- 2/8ths either side of the new octave value, idea being will price accept or reject the next leg up or down the Murrey ladder
  • #1,270
  • Sep 13, 2017 6:41am Sep 13, 2017 6:41am
Quoting OAPDave
{quote} Yes but my area of interest is the +/- 2/8ths either side of the new octave value, idea being will price accept or reject the next leg up or down the Murrey ladder
USDJPY [D1 Chart]
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USDJPY [M15 Chart]
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Last pullback to the upside was nice and strong noting that for the last 2 months the UJ has been in a bearish trend.

Price has now stalled currently hovering around the 110 handle (key psych level).

Quad Long has been signalled but do we have any confluence.

Trading range today only about 39 pips so far.

I would wait until NY Open and then re-assess this applies for lower TF trade setups as well.

Masterrmind..........
Master your Mind then Master your Trades
  • #1,271
  • Sep 14, 2017 7:14am Sep 14, 2017 7:14am
Quoting Eldero
{quote} GBP-CHF update Unfortunately the first position has been stopped out at BE some days ago Now, the price is going up with good momentum and second position is at + 250 pips I moved today the stop at BE with 2 MML breath I did not find the opportunity to add other positions so I have only 1 position. At this time, price is at 8/8 MML so it's not easy to find a good point to add positions I will monitor the pair and in case of weak retracement I would eventually consider the possibility to add positions {image}
GBP-CHF update
Price moved up making a new high. Now the +2/8 is pretty near and I am curious to see what the price
I did not add any position. I thought to add in case of a weak retracement at 38,2% or 50%, but the one of yesterday was too weak ( less than 23% ), so I remained with only 1 position
I moved the stop up at the 8/8 MML ( at + 238 pips ) and my intention is to move again up as soon as I have the possibility. We are close to the +2/8MML and above it at 130,50 there is an important level where the price could react. At this point, I don't want to give back a large part of the gained ground...
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  • #1,272
  • Sep 14, 2017 7:21am Sep 14, 2017 7:21am
Quoting Eldero
NZD-USD Here, I was able to add 2 positions to my initial trade. Now, I am in with 3 position in total I have an average gain of 80 pips per position. To not be overexposed, I moved the stop looses at BE + some pips The stop is just at 70 pips from the current price, so I am aware that am not in a safe area yet My target ( for now only in my mind ) is at 7/8MML ( approx 190 pips from current price ) and I would like to add at least another position {image}
NZD-USD update
Stopped out with +28 pips yesterday. Not a big deal but sooner or later, I will catch the trade with 5-6 positions....
  • #1,273
  • Sep 15, 2017 12:47am Sep 15, 2017 12:47am
Quoting Eldero
{quote} NZD-USD update Stopped out with +28 pips yesterday. Not a big deal but sooner or later, I will catch the trade with 5-6 positions....
In time you will from a multiple trade setup.

Far better to be stopped out for a little profit than to have something worse happen.

Masterrmind........
Master your Mind then Master your Trades
  • #1,274
  • Sep 15, 2017 1:09am Sep 15, 2017 1:09am
Quoting Eldero
{quote} GBP-CHF update Price moved up making a new high. Now the +2/8 is pretty near and I am curious to see what the price I did not add any position. I thought to add in case of a weak retracement at 38,2% or 50%, but the one of yesterday was too weak ( less than 23% ), so I remained with only 1 position I moved the stop up at the 8/8 MML ( at + 238 pips ) and my intention is to move again up as soon as I have the possibility. We are close to the +2/8MML and above it at 130,50 there is an important level where the price could react. At this point,...
Thats showing some good trade management skill.

Its always difficult to keep trades running after a nice move in your favor because you know that some type of a corrective pullback is likely to occur and with this in mind its either a case of tightening the stops or closing out completely (other platforms you can close out half the position and let the rest run).

Further to this its been several days sometimes weeks that the trades have been running and the fear of having that floating profit evaporate is what often drives traders to close for profit.

Trader choice at the end of the day but has plenty to do with whether the trader is committed to the longer term target, if conditions have changed and a host of others.

Masterrmind........
Master your Mind then Master your Trades
  • #1,275
  • Sep 15, 2017 2:54am Sep 15, 2017 2:54am
Hi Masterrmind,

I want to say, that your system is really great. I had two trades this weeks after your rules. I made already 300 pips this week:

Euronzd on Tuesday was perfect entry with Quad candle and Audnzd. So I stop trading the whole week.

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Kind regards,
Hoschie
  • #1,276
  • Sep 15, 2017 3:22am Sep 15, 2017 3:22am
Quoting Masterrmind
{quote} Thats showing some good trade management skill. Its always difficult to keep trades running after a nice move in your favor because you know that some type of a corrective pullback is likely to occur and with this in mind its either a case of tightening the stops or closing out completely (other platforms you can close out half the position and let the rest run). Further to this its been several days sometimes weeks that the trades have been running and the fear of having that floating profit evaporate is what often drives traders to close...
I closed the position with +467 pips
To analize the chart I often am conditioned from the Elliot wave ( I have ever used this theory ) and now I expect a 4th wave. The top of 3rd wave is always a good point to exit. If price will retrace, I can consider to enter again at a better price to run the 5th wave. Maybe I am putting on the table another aspect of the trading not contempled on this thread and I am sorry if it could cause confusion. I wanted to explain the reason because I exited the trade
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  • #1,277
  • Sep 15, 2017 4:29am Sep 15, 2017 4:29am
Quoting Masterrmind
{quote} Thats showing some good trade management skill. Its always difficult to keep trades running after a nice move in your favor because you know that some type of a corrective pullback is likely to occur and with this in mind its either a case of tightening the stops or closing out completely (other platforms you can close out half the position and let the rest run). Further to this its been several days sometimes weeks that the trades have been running and the fear of having that floating profit evaporate is what often drives traders to close...
The question I have not answered yet is: Is it better to close when the price is at the high (or low if short) or is it better to accept the risk to give back the gained ground to point to a higher profit? It's a very difficult question. Probably both the answers can be correct. The mistake I woud llike to avoid is to take a decision that is in the middle. It means that if price go in your favour for example for 500 pips, move the stop at 250 pips ( and it is exactly what I often do...). In fact, after a big movement, a pullback is very probable and placing the stop at half way could be the perfect point where the price hit the stop before resuming the trend...For this reason, it is very important to have clear in mind at the beginning of the trade, where is the target and then, depending on the way the price will move, decide where to move the stop or in some cases if exit and re-enter to take the entire run...If price go normally, making armonic swings I would prefer to move the stop under the swing, but when price have quick and strenght movements, in my opinion we have two possibilities: do not move the stop or close the position at the high. Placing the stop at the middle is a way conditioned by the fear to give back the profit, but does it has a sense with the trading strategy?
  • #1,278
  • Sep 15, 2017 5:31am Sep 15, 2017 5:31am
GBP-JPY
I closed now with a very good trade + 838 pips
Although the very good profit, I am not totally satisfied because even in this case I did not add positions...
My real target would be 1,65 ( a 1 to 1 completion on the weekly ), but after a so big movement, and on Friday, I prefer to take the profit and in case of a pullback on the next days try to enter again
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  • #1,279
  • Sep 15, 2017 6:22am Sep 15, 2017 6:22am
Quoting Eldero
GBP-JPY I closed now with a very good trade + 838 pips Although the very good profit, I am not totally satisfied because even in this case I did not add positions... My real target would be 1,65 ( a 1 to 1 completion on the weekly ), but after a so big movement, and on Friday, I prefer to take the profit and in case of a pullback on the next days try to enter again {image} {image}
I have to say that this thread is now amazing me, you show some top class trading, pip counts that anyone would be proud of and receive next to no comments, so I will just say excellent trading in fact brilliant trading and a big thank you for your detailed posts, I will just add as you are aware its not my style of trading but bloody well done, keep at it, rinse repeat top guy
  • #1,280
  • Sep 15, 2017 7:35am Sep 15, 2017 7:35am
Sitting with my finger on the button Target 6/8ths Stop +2/8ths
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