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need simple indicator for Daily green/red candle 2 replies

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Daily green/red candle

  • #4,101
  • Jan 13, 2018 2:57pm Jan 13, 2018 2:57pm
Quoting MarioEpsley
{quote} I didn't use an EA (is an EA a bot?), I manually placed every trade. Forex tester 2 allows you to go through and backtest charts as if they were live. Good software for those looking to do some testing. Recommended. Also not sure if I should really post this in here, but it's an interesting experiment. (Same pair and same period as my previous test above) Inspired by the simplicity and results of this strategy so far I've also been doing a comparison test where I buy when there's higher highs and higher lows and sell when there's lower highs...
What you're describing is an old basic fund-trader method called cap-and-trail (or that's what I knew it as). We also had a proprietary filter on top of that but the base concept is what rookies got to run for a year to break them in.
  • #4,102
  • Jan 13, 2018 5:48pm Jan 13, 2018 5:48pm
Pro traders DO USE MULTIPLIERS, but not from the very begining, as we noobs do...

Publicly they do condemn the multipliers, but this is one of their secrets. The thing is, they start using a multiplier when they know by experience the range is about to over...

When a noob uses a multiplier, it may or may not work. Luck determines if the session start was the right time to pass it successfully or is it going to a failure?

Latest Dimdel's 10k to 1.3m was a clean pass granted by the right time to start and a successful crucial point jump over... So, it is a skill, but backed up by luck.

SuperMario suggests the system is great, no multipliers are neccessary. If this is true, trading is no more an enigma...
Maadik Hugiis. IQ 69.
  • #4,103
  • Jan 13, 2018 6:45pm Jan 13, 2018 6:45pm
Hi Dimdel

I just finished reading this whole thread. I read every single page, every single post. I thank you so much for posting this strategy here. I find it very interesting. I did notice there are many conflicting opinions here from different people about different things and trading it in different ways. I still find this very interesting and want to give it a shot myself on a LIVE account.

I do understand there are certain things you do not want to share...and that is totally understandable.

I still do want to make sure I do understand everything that you are willing to share.

That said I have the following points of thoughts and wanted to make sure I got it right. If you don't mind can you please give me your comments and confirmation for the same:


1) You are trading 6 pairs. i.e. EU, EN, AN, GN, GJ, GC.
2) You are trading this in 3 time frames. i.e. Daily, H4 and H8. (H8 being nothing but combining 2 H4 candles)
3) I am a bit confused about your MM. You mentioned you risk max 5%. I believe you mean per day you risk 5%. Do you derive this based on your SLs for each trade? Also I believe you do not close the trades on new day since they might not have hit your SL nor your TP. On next day if you risk another 5%, wouldn't you be risking much more than 5% at a given time? Please tell me your thoughts about this?
4) If you have a Buy trade which has not hit SL or TP yet...if you get another signal for Buy trade, would you take another trade without closing the existing trade?
5) I noticed you have 3 methods for signal. I understand the every candle method. I also understand the color change method. But I do not understand the 3rd method. Can you please explain. I did look at your first post with examples but I don't understand the 3rd method.

Thank again for sharing your system.
  • #4,104
  • Jan 13, 2018 9:56pm Jan 13, 2018 9:56pm
Quoting MoneyZilla
Pro traders DO USE MULTIPLIERS, but not from the very begining, as we noobs do... Publicly they do condemn the multipliers, but this is one of their secrets. The thing is, they start using a multiplier when they know by experience the range is about to over... When a noob uses a multiplier, it may or may not work. Luck determines if the session start was the right time to pass it successfully or is it going to a failure? Latest Dimdel's 10k to 1.3m was a clean pass granted by the right time to start and a successful crucial point jump over... So,...
MZ,

What is a multiplier? Is it adding to positions?

Thanks
  • #4,105
  • Jan 14, 2018 1:51am Jan 14, 2018 1:51am
Quoting aaven
{quote} MZ, What is a multiplier? Is it adding to positions? Thanks
TAke look on post 4093
  • #4,106
  • Jan 14, 2018 7:05am Jan 14, 2018 7:05am
Quoting MoneyZilla
{quote} Enter 1 lot. SL hit. Next revenge entry is 2 lots when x2 or 2.5 lots when x2.5 {quote} Exactly. I am live trading H4 for quite some months. Trade it yourself for 2-3 months at least and we shall speak then? Losing faith in the system is the least of your problems. At that time... {quote} I have few years of observations on a demo. 28 majors + gold. Most of the times there barely is any DD at all. The EAs I was using could not flip. just TP or SL. After 500%-800% increase in about 6 months of trading all 29 pairs, the moment of death usually...
Hi MZ

Can you explain more about the moment of death? Are you referring to EAs for Red/Green candle strategy or something else? You were able to make around 500%-800% in 6 months using just 1 pair? What do you mean by flipping EAs?
  • #4,107
  • Jan 14, 2018 8:42am Jan 14, 2018 8:42am
Quoting BlackNapkins
{quote} TAke look on post 4093
Thanks Black Napkins...
  • #4,108
  • Jan 14, 2018 8:43am Jan 14, 2018 8:43am
I'd say never trust any EA, a robot is no good to rade productively as it's based on if then but the market is not about "if then" so I'd say you're better off setting proper rules for a strategy and trade yourself. At least it's what I do.
  • #4,109
  • Jan 14, 2018 8:52am Jan 14, 2018 8:52am
Yalgaar, i have used something very close to Dimdel's red/green strategy. The crucial point depends on the money management. Therefore 500% gains mean nothing. I could not make it work using SLs. Maybe I am very impatient. It does not matter. That is me. Maybe you can make it, using SLs? We saw Dimdel. He made it big time from 10k to 1.3m...

I have traded 29 pairs at a time. The moment of death takes 1-2 months to develop. And you are all gone...

I am live trading red/green strategy at the moment. My advise to you is to start trading it yourself. Forget backtesting. Do demo forward testing. Better live cent testing. Live trading delivers the best knowledge...

Once you start live cent trading it, you will answer your own questions. You need noone. Trading is not a team work...
Maadik Hugiis. IQ 69.
  • #4,110
  • Jan 14, 2018 10:53am Jan 14, 2018 10:53am
Hi mizi just yo ask you about the indicator you use on your chart...it is very clean

Thank you

Liberty55
  • #4,111
  • Jan 14, 2018 11:29am Jan 14, 2018 11:29am
Quoting liberty55
Hi mizi just yo ask you about the indicator you use on your chart...it is very clean Thank you Liberty55
They are envelopes on every mt4/trend section dots are supprt and resistance.
  • #4,112
  • Jan 14, 2018 3:01pm Jan 14, 2018 3:01pm
Hi MarioEpsley,

Very interesting experiment!!
Can you please give us an example with a zoom-in graph? It´s hard to understand with the big scale that you used in the picture.

Thanks!
Regards

Quoting MarioEpsley
{quote} I didn't use an EA (is an EA a bot?), I manually placed every trade. Forex tester 2 allows you to go through and backtest charts as if they were live. Good software for those looking to do some testing. Recommended. Also not sure if I should really post this in here, but it's an interesting experiment. (Same pair and same period as my previous test above) Inspired by the simplicity and results of this strategy so far I've also been doing a comparison test where I buy when there's higher highs and higher lows and sell when there's lower highs...
  • #4,113
  • Jan 15, 2018 2:51am Jan 15, 2018 2:51am
Dimdel where is TE ? You lost all?
  • #4,114
  • Jan 15, 2018 3:09am Jan 15, 2018 3:09am
Too many question, not enough answers to make it all clear. Time to put something to paper.
  • #4,115
  • Jan 15, 2018 3:16am Jan 15, 2018 3:16am
Quoting stevedua
Too many question, not enough answers to make it all clear. Time to put something to paper.
You have to do your own obeservation don't wait from no one to give you that holy grail because that dont exit man
  • #4,116
  • Jan 15, 2018 3:19am Jan 15, 2018 3:19am
Quoting mizi123
{quote} You have to do your own obeservation don't wait from no one to give you that holy grail because that dont exit man
Unfortunately I dont see any use of this strategy for me as i’ve tested it on d1 and it was not profitable. :-(
  • #4,117
  • Jan 15, 2018 8:07am Jan 15, 2018 8:07am
Quoting stevedua
{quote} Unfortunately I dont see any use of this strategy for me as i’ve tested it on d1 and it was not profitable. :-(
These are the last 3 trades I took with this method. Granted, all 3 are demo but this is representative of the success I've had when selecting the right pair at the right time at the right s/r level.


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Blessed is the one who takes refuge in Him.
  • #4,118
  • Jan 15, 2018 8:10am Jan 15, 2018 8:10am
Quoting reo4ua
{quote} These are the last 3 trades I took with this method. Granted, all 3 are demo but this is representative of the success I've had when selecting the right pair at the right time at the right s/r level. {image}
Do you have a chart that helps to understand one of those positions? With the rules set on the 1st page you can take 1 position on every major pair every single day and still not win.
  • #4,119
  • Jan 15, 2018 8:17am Jan 15, 2018 8:17am
Quoting stevedua
{quote} Do you have a chart that helps to understand one of those positions? With the rules set on the 1st page you can take 1 position on every major pair every single day and still not win.

Post 4086 is the only method I use. Hang on and I'll see if I can pull up a chart........
Blessed is the one who takes refuge in Him.
  • #4,120
  • Jan 15, 2018 8:22am Jan 15, 2018 8:22am
Quoting stevedua
{quote} Do you have a chart that helps to understand one of those positions? With the rules set on the 1st page you can take 1 position on every major pair every single day and still not win.
Here's one of them. This chart is from my trade explorer here on FF. Won't allow me to select the daily timeframe so 4h is as close as I can get. However, my entry was just above the prior day's close. You can get whipsawed but it doesn't happen as often on daily. I find that I can set pending buys/sells and walk away usually. Most of the time, the market goes one direction or the other and if it goes against me, I just cancel the pending order several hours later.

Probably won't have the nerve to do this once I try this live.

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Blessed is the one who takes refuge in Him.
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