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Jay's Candle Sticker System

  • #21
  • Jun 7, 2018 3:37am Jun 7, 2018 3:37am
JayDavid, can you post a screen shot on one of ur swing trades where u adding a position every 100 pips?
Thanks in advance
  • #22
  • Jun 7, 2018 4:31am Jun 7, 2018 4:31am
Quoting JayDavis
{quote} I do plan on posting some trades, each signal is essentially three trades, one is immediate and then I place two corresponding pending orders. It should become more clear when I actually place some live trades later.
Hi Jay, i am trying to understand this, from what i gathered, as soon as you have your signal for entry on daily, say a buy signal on g/u 1.3400, you will set a pending order for half the size used after the first 100 pips, in essence, market order at 1.3400, then set pending order at 1.3500 and also 1.3600....the goes on till there is a confirmed exit.
  • #23
  • Jun 7, 2018 4:40am Jun 7, 2018 4:40am
Quoting JayDavis
{quote} Ok so now I am wondering, can you see my trade explorer most of the information you asked for is right there ready for you to take a look. So are you asking me to repeat the information that is there into a forum post? Or maybe you asked this question before you realized that you already have access to the information? I have everything set to public so all the info should be there. As far as swaps go, with my broker the fees are nominal and I generally just ignore their effects.
Yes Jay, i see, it, the thing is, i am used to using percentage per trade, say i want to pick a trade, i do use say the last swing or low to calculate to give the 2% or whatever the case maybe,it seems you do not trade that way, or maybe i cant not decipher this, hence i was wonering what percentage you use per trade to be up about 90% on a daily time frame within a week...sorry if i sound like a broken record, i just want to make sure i understand as against thinking i understand.
  • #24
  • Jun 7, 2018 4:50am Jun 7, 2018 4:50am
Quoting JayDavis
{quote} Well, it looks like you may be too new for me to be able to send a private message to or there is some other reason why I cannot figure out how to message you directly. Why don't you go ahead and post your question for the world to see, I don't believe in scarcity and there really is no point to secrecy. Alternatively, you could send me a message directly from my profile, that goes to my email. I would post my email, but I don't want spam from forum email scraper bots.
Thanks for reply Jay! Just add your Twister, and shout to you but don't know how to send direct message to your profile! anyway, I will contact you via Twister. Nice day!
  • #25
  • Edited 6:43am Jun 7, 2018 4:53am | Edited 6:43am
Quoting carbonado
{quote} Hi Jay, i am trying to understand this, from what i gathered, as soon as you have your signal for entry on daily, say a buy signal on g/u 1.3400, you will set a pending order for half the size used after the first 100 pips, in essence, market order at 1.3400, then set pending order at 1.3500 and also 1.3600....the goes on till there is a confirmed exit.
That is essentially it, I would place a market order on g/u at whatever the price happens to be trading at while I am looking at it and then place the pending orders 100 and 200 pips away from whatever price was executed.

--Now I did recently change my trading procedure to take on more risk initially. Last month was an exciting time and the account reached 20K but I was not able to keep most of it due to the inevitable corrections and retracements that naturally occur. So currently the orders were placed with an initial lot size of 0.25 then a pending order is set for 0.5 and 1.0 that was how it was done. On June 6th I decided to reverse that procedure and make the initial order be 1.0 and then the pending orders will be of size 0.5 and 0.25.

I found that I usually made money on my initial position, but losses racked up with my addon positons when reversals occurred, so this new method should ease some of the pain of going through corrections.
Buy, Sell, plus this other thing equals Profit!
  • #26
  • Edited 5:09am Jun 7, 2018 4:59am | Edited 5:09am
Quoting carbonado
{quote} Yes Jay, i see, it, the thing is, i am used to using percentage per trade, say i want to pick a trade, i do use say the last swing or low to calculate to give the 2% or whatever the case maybe,it seems you do not trade that way, or maybe i cant not decipher this, hence i was wonering what percentage you use per trade to be up about 90% on a daily time frame within a week...sorry if i sound like a broken record, i just want to make sure i understand as against thinking i understand.
Yeah, I used to trade this way using percentages, back when I found it difficult to make any money trading. I initially started my system trading 2% of equity but I found myself meandering at the same spot, not losing much but also not winning much. Most of the time I was looking at losses in my account hoping for a recovery. Using percentages limited my losses, but also my gains. During the course of this pedantic percentage system, I made a mistake and fat fingered a lot size that was much larger than what it was supposed to be. That trade ended up being very profitable so I continued the system and threw away the percentages. They are not for me at the moment.
Buy, Sell, plus this other thing equals Profit!
  • #27
  • Jun 7, 2018 5:17am Jun 7, 2018 5:17am
Quoting PowerH
{quote} Thanks for reply Jay! Just add your Twister, and shout to you but don't know how to send direct message to your profile! anyway, I will contact you via Twister. Nice day!
It the top middle of the profile view there should reside a message button, use that to send direct messages.

Did you mean twitter? @512jay
Buy, Sell, plus this other thing equals Profit!
  • #28
  • Jun 7, 2018 5:36am Jun 7, 2018 5:36am
Quoting JayDavis
{quote} That is essentially it, however, I would place a market order on g/u at whatever the price happens to be trading at while I am looking at it and then place the pending orders 100 and 100 pips away from whatever price was executed. the orders were placed with an initial lot size...
I noticed this, when i checked your trades, the new way is better in my opinion, however, i am thinking of something, you use a flat out 100 pips, is it possible to use the daily range of the currency as against 100 pips, the reason is some pairs just have a low daily range..i.e the likes of aud/usd, which is around 60 pips, if you use 100pips, then that is close to the weekly range of such pair, however, using 100 pips will be fine on a pair like g/u and it will be noting on pair like g/j...just my thought...what your say on this.
  • #29
  • Jun 7, 2018 5:42am Jun 7, 2018 5:42am
Quoting JayDavis
{quote} Yeah, I used to trade this way using percentages, back when I found it difficult to make any money trading. I initially started my system trading 2% of equity but I found myself meandering at the same spot, not losing much but also not winning much. Most of the time I was looking at losses in my account hoping for a recovery. Using percentages limited my losses, but also my gains. During the course of this pedantic percentage system, I made a mistake and fat fingered a lot size that was much larger than what it was supposed to be. That trade...
....[/b]

lol....i see, maybe i will join you on this journey of ditching percentage for now.....
  • #30
  • Jun 7, 2018 5:55am Jun 7, 2018 5:55am
Quoting carbonado
{quote} I noticed this, when i checked your trades, the new way is better in my opinion, however, i am thinking of something, you use a flat out 100 pips, is it possible to use the daily range of the currency as against 100 pips, the reason is some pairs just have a low daily range..i.e the likes of aud/usd, which is around 60 pips, if you use 100pips, then that is close to the weekly range of such pair, however, using 100 pips will be fine on a pair like g/u and it will be noting on pair like g/j...just my thought...what your say on this.
I like it and this is why I wanted to run my system through the crucible of public opinion. To improve it, and that probably will be an improvement. I'm thinking maybe an ATR(14) would work, especially when turned into an expert advisor. The method I use now is very easy for a manual trader who does not want to do much math.
Buy, Sell, plus this other thing equals Profit!
  • #31
  • Jun 7, 2018 5:59am Jun 7, 2018 5:59am
Quoting tenshadowsun
JayDavid, can you post a screen shot on one of ur swing trades where u adding a position every 100 pips? Thanks in advance
This will happen probably later today if I get any valid trades check back after 6 pm eastern.
Buy, Sell, plus this other thing equals Profit!
  • #32
  • Jun 7, 2018 7:55am Jun 7, 2018 7:55am
Quoting JayDavis
{quote} I like it and this is why I wanted to run my system through the crucible of public opinion. To improve it, and that probably will be an improvement. I'm thinking maybe an ATR(14) would work, especially when turned into an expert advisor. The method I use now is very easy for a manual trader who does not want to do much math.
Yeap...even if you use the average true range,it is still easy.....
  • #33
  • Jun 7, 2018 8:40am Jun 7, 2018 8:40am
Looks like a great system.. American Bulls like like a stock trading deal. Forex might be a sideline?
  • #34
  • Jun 7, 2018 8:42am Jun 7, 2018 8:42am
Quoting JayDavis
{quote} It the top middle of the profile view there should reside a message button, use that to send direct messages. Did you mean twitter? @512jay
Yes, I added that Twister, is it your Twister?
  • #35
  • Jun 7, 2018 9:14am Jun 7, 2018 9:14am
Quoting Zeve
Looks like a great system.. American Bulls like like a stock trading deal. Forex might be a sideline?
Yeah, it seems as though they added forex as an afterthought. Even though they treat it like a stepchild it still has some viability.
Buy, Sell, plus this other thing equals Profit!
  • #36
  • Jun 7, 2018 9:36am Jun 7, 2018 9:36am
Quoting PowerH
{quote} Yes, I added that Twister, is it your Twister?
Attached Image (click to enlarge)
Click to Enlarge Name: message.png Size: 132 KB


LOL, its like you can't type twitter. Yes, @512Jay is my twitter. I can't message myself so here is a test subject.
Buy, Sell, plus this other thing equals Profit!
  • #37
  • Jun 7, 2018 10:15am Jun 7, 2018 10:15am
Quoting carbonado
{quote} I noticed this, when i checked your trades, the new way is better in my opinion, however, i am thinking of something, you use a flat out 100 pips, is it possible to use the daily range of the currency as against 100 pips, the reason is some pairs just have a low daily range..i.e the likes of aud/usd, which is around 60 pips, if you use 100pips, then that is close to the weekly range of such pair, however, using 100 pips will be fine on a pair like g/u and it will be noting on pair like g/j...just my thought...what your say on this.
Just curious, how would you go about calculating the daily range of the currency?
Buy, Sell, plus this other thing equals Profit!
  • #38
  • Jun 7, 2018 10:25am Jun 7, 2018 10:25am
Quoting JayDavis
{quote} Just curious, how would you go about calculating the daily range of the currency?
There are different indicators on forexfactory that can be used to calculate the daily range, usually you will be the one to set the parameters, as it will take the range for a number of days which u like,then average it out, the average is what u will use to set you ADR...
  • #39
  • Jun 7, 2018 11:07am Jun 7, 2018 11:07am
Do you use any other indicator, or just use candlestick pattern? And how to determine stop-loss level?
  • #40
  • Jun 7, 2018 11:15am Jun 7, 2018 11:15am
search for ADR(average daily range) online. Most of them set at default at 14 days average.
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