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Attachments: Jay's Candle Sticker System
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Jay's Candle Sticker System

  • #41
  • Jun 7, 2018 11:33am Jun 7, 2018 11:33am
Quoting jhonayahya
Do you use any other indicator, or just use candlestick pattern? And how to determine stop-loss level?
I don't use any other indicators. I don't place any stop losses on my trades with the broker. However, I do still use stop losses. When trading a candlestick formation a stop loss is naturally generated. Check out candlesticker.com I note it and if a trade closes beyond a stop loss I will close it. This allows that throughout the course of a day a trade can travel beyond the stop loss without it closing as long as it recovers by the end of the day. I find that this gives me more flexibility.
Attached Image (click to enlarge)
Click to Enlarge Name: NaturalStopLoss.png Size: 78 KB
Buy, Sell, plus this other thing equals Profit!
  • #42
  • Jun 7, 2018 12:24pm Jun 7, 2018 12:24pm
Nice strategy!

Can I ask why are you using realtrader as a broker?

http://www.forexpeacearmy.com/forex-...realtrader.org
  • #43
  • Edited 1:28pm Jun 7, 2018 12:37pm | Edited 1:28pm
Quoting Nenuser
Nice strategy! Can I ask why are you using realtrader as a broker? http://www.forexpeacearmy.com/forex-...realtrader.org
They don't care that I am an American and I can get access to leverage that I cannot get here in the United States. I'm open to further suggestions. I remember trading before Frank Dodd went into effect, it was a heady time, now American brokers are so restricted that many strategies just won't work and most foreign brokers will not accept us as clients. The American government regulated us into safe secure losses, no hedging, crappy leverage. Also, I have been trading with them for 7+ years so inertia. I have actually withdrawn money in the past, but not substantial sums. I use multiple brokers to address the risk of not being able to get my withdrawals. Have you personally had a bad experience with them?
Buy, Sell, plus this other thing equals Profit!
  • #44
  • Jun 7, 2018 2:40pm Jun 7, 2018 2:40pm
I try to analyze your open orders. Did you make an entry on EUR/JPY because there is bullish piercing line candlestick on D1 chart like this picture?
Attached Image (click to enlarge)
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  • #45
  • Edited 7:29pm Jun 7, 2018 3:04pm | Edited 7:29pm
Quoting jhonayahya
I try to analyze your open orders. Did you make an entry on EUR/JPY because there is bullish piercing line candlestick on D1 chart like this picture?{image}
Nope my buy order is the result of a Bullish Harami on 5/30/18, however, due to the vagaries of brokers, you could be looking at the same or similar trade.

05/30/2018 BULLISH HARAMI
Buy Level 126.9900
Stop Loss 124.5800
Execution at 127.258

Attached Image


I obviously need to work on my graphics work.

Ignore the stop loss and sell level currently on the chart that is for a Bearish Hanging Man that formed on the 5th.



You know what's sad is that I actually added a note to a bunch of those orders in the forex factory notes section to indicate what pattern triggered them, but I don't see any of the notes now. I guess that was a waste of time. Here is a screen print from my MetaTrader 4.
Attached Image (click to enlarge)
Click to Enlarge Name: someTrades.png Size: 152 KB
Buy, Sell, plus this other thing equals Profit!
  • #46
  • Jun 7, 2018 4:21pm Jun 7, 2018 4:21pm
Quoting JayDavis
Sure, I'll post some examples after 5 pm eastern if I get any valid trades today. Essentially http://www.candlesticker.com teaches you how to recognize 84 different candlestick patterns. Once you see one of the patterns on your chart you can then initiate your trades. That's the free way to use the system, however for a fee you could join http://americanbulls.com and be informed of candlestick patterns that they automatically detect. In the long term, I plan to create an expert advisor that detects all 84 patterns and trades...

84 * 28 = 2352 possibilities, how do you manage this every day?
Double the account
  • #47
  • Jun 7, 2018 4:27pm Jun 7, 2018 4:27pm
Ok, it's after 5 pm Eastern and I have checked for candlestick patterns I have one valid trade.

EURAUD formed a Bullish Piercing Line on 6/5/18 which confirmed today.

Buy Level 1.5377
Stop Loss 1.5273
Execution at 1.54767

Before I can initiate this buy order I need to close the currently open sell order on EURAUD. I closed that order and suffered a loss of $364.36. I also cancel the two pending sell-stop orders that never triggered.

Now according to my system, I open a 1 lot buy trade on EURAUD at the market price of 1.54767.
I also opened two pending buy-stop orders. One for 0.5 lots at 1.55767 and another for 0.25 lots at 1.56767. Now I am done...

Attached Image (click to enlarge)
Click to Enlarge Name: EurAudTrade6-7-18.png Size: 175 KB


I know it kinda sucks to show a losing trade as my first trade, but that's the way the cookie crumbled.
Buy, Sell, plus this other thing equals Profit!
  • #48
  • Jun 7, 2018 4:39pm Jun 7, 2018 4:39pm
Quoting zghnno
{quote} 84 * 28 = 2352 possibilities, how do you manage this every day?
With the magic of software americanbulls.com just tells me which candlestick have formed and what is confirmed. Makes my analysis a simple daily glance. Here is the free link. https://www.americanbulls.com/SignalListFX.aspx?lang=en

Since I found that so valuable I now pay for their service and that gets me the buy and sell levels along with the stop-loss. I simply transcribe this information into a google sheet that I update daily.
Buy, Sell, plus this other thing equals Profit!
  • #49
  • Jun 7, 2018 4:53pm Jun 7, 2018 4:53pm
Quoting JayDavis
Ok, it's after 5 pm Eastern and I have checked for candlestick patterns I have one valid trade. EURAUD formed a Bullish Piercing Line on 6/5/18 which confirmed today. Buy Level 1.5377 Stop Loss 1.5273 Execution at 1.54767 Before I can initiate this buy order I need to close the currently open sell order on EURAUD. I closed that order and suffered a loss of $364.36. I also cancel the two pending sell-stop orders that never triggered. Now according to my system, I open a 1 lot buy trade on EURAUD at the market price of 1.54767. I also opened two pending...
Which broker does americanbulls use?
I use oanda and there is no such pattern for today on euraud daily. But there was a bullish harami 2 days ago.
I couldve entered earlier at a better price of 1.5388
Attached Image (click to enlarge)
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  • #50
  • Edited 5:46pm Jun 7, 2018 4:58pm | Edited 5:46pm
Quoting hibra68
{quote} Which broker does americanbulls use? I use oanda and there is no such pattern for today on euraud daily. But there was a bullish harami 2 days ago. I couldve entered earlier at a better price of 1.5388 {image}
You know, I don't know where they are getting their data from.

Taking a second look at your chart I do see the Bullish Piercing Line on the chart and even your bullish harami would not have confirmed until today. I consider a confirmed candlestick pattern, not one whereby the pattern merely forms but the pair has to close beyond the pattern in the correct direction. Intraday movement does not count.

So let's say we were considering your Bullish Harami from two days ago, I would not take the trade until after a bullish candle closed above the pattern. I'm not actually trying to get the top or bottom I just want to be in the trade when it has a high chance of going my way, and it has somewhat proven it by traveling in the direction that I want it to go some already.
Buy, Sell, plus this other thing equals Profit!
  • #51
  • Jun 7, 2018 5:05pm Jun 7, 2018 5:05pm
The funny but good thing about this system is that technically my weekend has started! I can't make any more trades according to my system until the market opens back up Sunday. I could shutdown MetaTrader right now, go enjoy my life and worry about what's happening here on Sunday evening.
Buy, Sell, plus this other thing equals Profit!
  • #52
  • Jun 7, 2018 5:52pm Jun 7, 2018 5:52pm
If it goes to the 200pips do you add another order 100 again? I mean when do you take the profits/close
  • #53
  • Jun 7, 2018 5:55pm Jun 7, 2018 5:55pm
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD daily1.png Size: 21 KB
  • #54
  • Jun 7, 2018 5:58pm Jun 7, 2018 5:58pm
Quoting Emerald2112
If it goes to the 200pips do you add another order 100 again? I mean when do you take the profits/close
The pending orders are already set I just leave them to work their magic by themselves.

If I get the signal to close an order I close all of the associated orders for that pair at the same time. So if a pair has two open orders and one pending when I get the signal to close the order I will close both open orders and delete the pending order.

I can get the signal to close an order in two main ways. I close a position when and if it closes beyond a stop-loss or a confirmed candlestick pattern in the opposite direction appears. That's it.

Also, since last month due to conversations with my girlfriend if my account doubles in one 24 hour period, I am to close all positions.
Buy, Sell, plus this other thing equals Profit!
  • #55
  • Jun 7, 2018 6:03pm Jun 7, 2018 6:03pm
Quoting Emerald2112
{image}
Looking good, however, I actually would not place the stop-loss on the chart, unless that just a reminder line. Hopefully, this is a demo? You never know with trades.
Buy, Sell, plus this other thing equals Profit!
  • #56
  • Jun 7, 2018 6:07pm Jun 7, 2018 6:07pm
Quoting JayDavis
{quote} You know, I don't know where they are getting their data from. Taking a second look at your chart I do see the Bullish Piercing Line on the chart and even your bullish harami would not have confirmed until today. I consider a confirmed candlestick pattern, not one whereby the pattern merely forms but the pair has to close beyond the pattern in the correct direction. Intraday movement does not count. So let's say we were considering your Bullish Harami from two days ago, I would not take the trade until after a bullish candle closed above...
Its not actually a piercing pattern on my chart because the market didnt gap down, the close of the bearish candle and the open of the bullish candle are same. But than again i rarely see a gap on my charts for some reason, maybe there is a setting on the platform. Anyway like u said if you wait for candle to close above/below the signal line for confirm. than todays trade is valid.
I dont want to complicate things but there is a thread on the forum i think its called 3 candles or something, that enters trades at pullbacks after signal confirmation using fibo, this is all for cheaper price entry thus reducing sl distance.
  • #57
  • Jun 7, 2018 6:16pm Jun 7, 2018 6:16pm
Quoting JayDavis
{quote} Looking good, however, I actually would not place the stop-loss on the chart, unless that just a reminder line. Hopefully, this is a demo? You never know with trades.
Thanks, Its demo only and I only added 0.1lots even with that lol. On my platform 1 lot if it gets stopped in this trade it's >£1000 loss. Bit scary that for a £10000 account.
  • #58
  • Jun 7, 2018 6:19pm Jun 7, 2018 6:19pm
Quoting hibra68
{quote} Its not actually a piercing pattern on my chart because the market didnt gap down, the close of the bearish candle and the open of the bullish candle are same. But than again i rarely see a gap on my charts for some reason, maybe there is a setting on the platform. Anyway like u said if you wait for candle to close above/below the signal line for confirm. than todays trade is valid. I dont want to complicate things but there is a thread on the forum i think its called 3 candles or something, that enters trades at pullbacks after signal confirmation...
Ok, so the second day did not gap down so no Bullish Piercing Line, it is hard to eyeball from a chart. I agree we are looking a basically the same trade. I'll look around for the pullback stuff. I am definitely open to any improvements. In the past I have found that hunting for tops and bottoms were a fool's errand, I was rarely successful and when I was the net extra gain was marginal.

I've got a list of potential improvements forming already.
1. Utilizing dynamic addon spacing like ATR to plan pending orders.
2. Figure out some way to obtain better entry points.
Buy, Sell, plus this other thing equals Profit!
  • #59
  • Jun 7, 2018 6:27pm Jun 7, 2018 6:27pm
Quoting JayDavis
{quote} Ok, so the second day did not gap down so no Bullish Piercing Line, it is hard to eyeball from a chart. I agree we are looking a basically the same trade. I'll look around for the pullback stuff. I am definitely open to any improvements. In the past I have found that hunting for tops and bottoms were a fool's errand, I was rarely successful and when I was the net extra gain was marginal. I've got a list of potential improvements forming already. 1. Utilizing dynamic addon spacing like ATR to plan pending orders. 2. Figure out some way to...
Yes , for example open a trade of 1/2 lot when candle closes confirming pattern. Place 1 lot at a determined pullback area, and set a stop order of .25 lot at a determined future area, all sl placed at same price.
There was actually an ea called double in a day or something that utilized this, basicaly it used positive positiond to open new trades, whilst keeping your overall equity protected. Basically if price moved your way significantly it theoretically doubled your account in a day.
  • #60
  • Jun 7, 2018 6:34pm Jun 7, 2018 6:34pm
Quoting hibra68
{quote} Yes , for example open a trade of 1/2 lot when candle closes confirming pattern. Place 1 lot at a determined pullback area, and set a stop order of .25 lot at a determined future area, all sl placed at same price.
I like it, one could look at the chart and see if there are any easily identified support and resistance levels. Or, maybe go back like 50% towards the stop-loss level to initiate the 1 lot size order and the same distance in the other direction to place the 0.25 lot order.

I have the add-ons because I wanted to add to my winners. In the past, I would only trade one position per pair, which left a lot of winnings on the table and the wins were commensurate with the losses. With add-ons, I win more when I win and lose about the same with my losses unless there are major reversals.
Buy, Sell, plus this other thing equals Profit!
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