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Quad Candle System

  • #1,281
  • Edited 8:10am Sep 15, 2017 7:58am | Edited 8:10am
Quoting OAPDave
Sitting with my finger on the button Target 6/8ths Stop +2/8ths {image}
Not greedy Banked 23 plenty more, not bad 23pips for around 30mins chart watching
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYSBM15.png Size: 62 KB
  • #1,282
  • Sep 15, 2017 8:12am Sep 15, 2017 8:12am
Quoting OAPDave
{quote} Not greedy Banked 20 plenty more, not bad 20pips for around 30mins {image}
Good speculative trade. A bit risky to go counter a trend like this, but with a small stop it can be profitable
Maybe it is preferable to wait the retracement to eventually enter in the trend direction, but after a strong movement, also the retracement can be quick and deep....good, well done
  • #1,283
  • Sep 15, 2017 8:27am Sep 15, 2017 8:27am
Quoting Eldero
{quote} Good speculative trade. A bit risky to go counter a trend like this, but with a small stop it can be profitable Maybe it is preferable to wait the retracement to eventually enter in the trend direction, but after a strong movement, also the retracement can be quick and deep....good, well done
Very fair comments and if truth known I would much prefer to trade like yourself and Masterrmind but spent years trying to scalp after my brokers lost me a very large sum of money doing their option strategies, just cannot leave my hard earned in the market too long, to me Murrey is the edge no matter for either long or short term trades, also there are just days that are made to scalp and days that are not, just got to spot those days.
I was also looking at the daily and todays range and just thought it was worth a near 1-1 RR
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYSBDaily.png Size: 85 KB
  • #1,284
  • Sep 15, 2017 10:14am Sep 15, 2017 10:14am
Thanks to everyone for the quality of the posts, I am still here and always learning from you all. thanks again.
Just trying to put a kiss on the cheek of success
  • #1,285
  • Sep 15, 2017 12:42pm Sep 15, 2017 12:42pm
Quoting OAPDave
Sitting with my finger on the button Target 6/8ths Stop +2/8ths {image}
I love it when a plan comes together but unfortunately I banked at the half way stage, no problem though, there's 26 pairs to be looking at !!!!
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYSBM15.png Size: 61 KB
  • #1,286
  • Sep 15, 2017 8:30pm Sep 15, 2017 8:30pm
Quoting Hoschie
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. {image} Kind regards, Hoschie
I am very pleased you shared your trading results.

Yes it is a great system, simple to apply, relatively easy to manage and profitable provided the tader learns to be aptient, wait for the confluent setups and follows my guide in Post 1.... this always includes managing the risk.

I look forward to your next trade.

Masterrmind...........
Master your Mind then Master your Trades
  • #1,287
  • Sep 15, 2017 8:40pm Sep 15, 2017 8:40pm
Quoting Eldero
{quote} 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 {image}
That's fine to mention EW theory as I'm very familiar with all its concepts both good and bad.

The market moves in waves but EW theory can be highly discretionary which is similar to me I suppose.

The key point here is building market expectations on the back of confluence and get some probability on your side ...

Managing the risk should be automatic at this stage but I will always make mention of it especially to new traders to this method.

Keep up the good work and the pip count will continue to follow.

I'm waiting for that +1000 pip setup by the way.

ha ha

Masterrmind...........
Master your Mind then Master your Trades
  • #1,288
  • Sep 15, 2017 8:45pm Sep 15, 2017 8:45pm
Quoting OAPDave
{quote} Not greedy Banked 23 plenty more, not bad 23pips for around 30mins chart watching {image}
Nice quick profit.

In and out fast is a great idea when taking trades on that day of the week.

Way to go OAPDave.

Masterrmind............
Master your Mind then Master your Trades
  • #1,289
  • Sep 15, 2017 8:46pm Sep 15, 2017 8:46pm
Quoting pet3250
Thanks to everyone for the quality of the posts, I am still here and always learning from you all. thanks again.
Always welcome here.

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #1,290
  • Sep 15, 2017 9:05pm Sep 15, 2017 9:05pm
Quoting OAPDave
{quote} Very fair comments and if truth known I would much prefer to trade like yourself and Masterrmind but spent years trying to scalp after my brokers lost me a very large sum of money doing their option strategies, just cannot leave my hard earned in the market too long, to me Murrey is the edge no matter for either long or short term trades, also there are just days that are made to scalp and days that are not, just got to spot those days. I was also looking at the daily and todays range and just thought it was worth a near 1-1 RR {image}
One can easily view longer periods of time in the markets as representing greater risk.

The longer you leave a trade in the market the more chance that a flash crash, black swan type event can cause untold pain in your pocket.

Even if you apply 5% risk per setup a flash crash type event can very easily cause negative slippage of 100s of pips.
What you thought could only be a 5% loss blows out to more than 30%.

All the above is important for all traders to understand and to be aware of since it is a possibility, its happened before and its likely to happen again.

However, the occurrence is a very very low probability.

The trader has to decide if they are prepared to take on board some risk or not.

There is good and bad in a fast in fast out approach as well as longer term trades and typically traders will trade in 1 area or the other but rarely in both.

I trade in both.

This coming week should see a combination of longer term + shorter term intraday methods with some commentary attached for those who care.

Masterrmind............
Master your Mind then Master your Trades
  • #1,291
  • Sep 16, 2017 2:17am Sep 16, 2017 2:17am
Quoting Masterrmind
{quote} One can easily view longer periods of time in the markets as representing greater risk. The longer you leave a trade in the market the more chance that a flash crash, black swan type event can cause untold pain in your pocket. Even if you apply 5% risk per setup a flash crash type event can very easily cause negative slippage of 100s of pips. What you thought could only be a 5% loss blows out to more than 30%. All the above is important for all traders to understand and to be aware of since it is a possibility, its happened before and its...
Thanks for your wise words as usual looking forward to your plans for the coming week, just hope you get signs of appreciation for your tireless efforts in showing us the light.
  • #1,292
  • Sep 16, 2017 2:50am Sep 16, 2017 2:50am
Quoting OAPDave
{quote} Thanks for your wise words as usual looking forward to your plans for the coming week, just hope you get signs of appreciation for your tireless efforts in showing us the light.
A slightly larger account will be traded to better accommodate setups of both longer term and intraday.

Plenty of live examples will be given with a focus on risk management.

Winners and losers will all be shown.

Mr Transparency will be in the room!

Good trading,

Masterrmind..........
Master your Mind then Master your Trades
  • #1,293
  • Edited 3:04am Sep 17, 2017 2:43am | Edited 3:04am
M15/M5 MML System

This method uses the same template as the D1 Chart which can be found in the zip folder of Post 1.

The method is geared more towards intraday type trades with exits usually the same day (with exceptions).

It uses most trading techniques shown throughout this thread.

The Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 60 KB

Settings:

TF = M15 or M5;

P = 64 (may vary depending on PA for given symbol)

MMP = 0 (may vary depending on PA for given symbol)

Stepback = 0 (may vary in rare situations)

Things to be aware of:

1. The value of the Octive Gap
2. The 64 period ADR
3. M15 Candle Octive Gap frequency
4. The 96 period High and Low levels
5. Market developments (news etc)
6. Trade Management; and
7. Risk Management

Although I generally trade with fundamental and technical alignment as much as possible, on lower TFs such as M15 and especially M5 the approach to trading is almost all technical.

Keeping in tune with market developments should always form part of your trading.

Quad Candle Patterns are generally not applied or used on M15/M5 (Quads best for D1 TF most of the time).

Masterrmind...........
Master your Mind then Master your Trades
  • #1,294
  • Sep 17, 2017 2:48am Sep 17, 2017 2:48am
Quoting Masterrmind
M15/M5 MML System This method uses the same template as the D1 Chart which can be found in the zip folder of Post 1. The method is geared more towards intraday type trades with exits usually the same day (with exceptions). It uses most trading techniques shown throughout this thread. The Chart: {image} Settings: TF = M15 or M5; P = 64 (may vary depending on PA for given symbol) MMP = 0 (may vary depending on PA for given symbol) Stepback = 0 (may vary in rare situations) Things to be aware of: 1. The value of the Octive Gap 2. The 64 period ADR...
Call me Red
  • #1,295
  • Sep 17, 2017 5:29am Sep 17, 2017 5:29am
Quoting Masterrmind
M15/M5 MML System This method uses the same template as the D1 Chart which can be found in the zip folder of Post 1. The method is geared more towards intraday type trades with exits usually the same day (with exceptions). It uses most trading techniques shown throughout this thread. The Chart: {image} Settings: TF = M15 or M5; P = 64 (may vary depending on PA for given symbol) MMP = 0 (may vary depending on PA for given symbol) Stepback = 0 (may vary in rare situations) Things to be aware of: 1. The value of the Octive Gap 2. The 64 period ADR...
I have uploaded the M15/M5 MML System to Post 1 as a separate zip folder.

Although not necessary I recommend that you use the indicators contained in this zip as some have been modified slightly.

I say not really necessary because some of these settings will need to be modified on certain symbols on a case by case basis.

Enjoy,

Masterrmind............
Master your Mind then Master your Trades
  • #1,296
  • Sep 17, 2017 5:34am Sep 17, 2017 5:34am
Quoting Mhosseini83
{quote}
Welcome and I hope you enjoy the thread.

Masterrmind...........
Master your Mind then Master your Trades
  • #1,297
  • Sep 17, 2017 5:37am Sep 17, 2017 5:37am
Quoting OAPDave
{quote} Example of what I am doing {image} {image} {image}
Certainly plenty going on in those charts.

Are you looking to enter from the golden zone?

Masterrmind...........
Master your Mind then Master your Trades
  • #1,298
  • Sep 17, 2017 6:07am Sep 17, 2017 6:07am
EURUSD [M15 Chart - Example Setup]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 68 KB

Please post all the possible risk considerations for this setup ?

Masterrmind............
Master your Mind then Master your Trades
  • #1,299
  • Sep 17, 2017 6:30am Sep 17, 2017 6:30am
Quoting Masterrmind
EURUSD [M15 Chart - Example Setup] {image} Please post all the possible risk considerations for this setup ? Masterrmind............
Lets forget for the moment that the market is currently closed.

Lets further assume that an entry is being considered to the short side.

Masterrmind..........
Master your Mind then Master your Trades
  • #1,300
  • Sep 17, 2017 6:35am Sep 17, 2017 6:35am
Quoting Masterrmind
{quote} Lets forget for the moment that the market is currently closed. Lets further assume that an entry is being considered to the short side. Masterrmind..........
EU [M15-Example]

SL would be placed where?

TP would be placed where ?

Where is the risk and how do I manage the trade after entry ?

What do I need to be watching ?

Why do I need to be watching it ?

Masterrmind............
Master your Mind then Master your Trades
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