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Jay's Candle Sticker System

  • #81
  • Jun 8, 2018 5:15am Jun 8, 2018 5:15am
I understand nobody can predict the future but if someone follows candlestick patterns it is a good site for getting them straight all at once in front of You instead of losing a lot of time checking them one by one Yourself. Then of course is up to the trader to interpret them. Thank You for Your answer and have a nice Week-End
  • #82
  • Jun 8, 2018 7:49am Jun 8, 2018 7:49am
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...
If you could post a screenshot of the pattern performance this would be great!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 216 KB
Vucking good EA coder... https://t.ly/AZjRM
  • #83
  • Jun 8, 2018 7:57am Jun 8, 2018 7:57am
Yikes what happened today?
  • #84
  • Edited 10:12am Jun 8, 2018 8:12am | Edited 10:12am
Quoting reteid2222
{quote} If you could post a screenshot of the pattern performance this would be great! {image}
Here ya go for the overall view
Attached Image (click to enlarge)
Click to Enlarge Name: Pattern Performance Bullish Piercing Line .png Size: 58 KB
Buy, Sell, plus this other thing equals Profit!
  • #85
  • Edited 8:27am Jun 8, 2018 8:13am | Edited 8:27am
Quoting densol
Yikes what happened today?
I admit I am taking a bloodbath today. Kind of like looking at a train wreck.

This is why I changed the way the strategy works on June 6th, but according to my internal rules, the trades placed before my change follow the old method which loads risk at the end instead of the beginning and can produce whipsaws.

If I survive these retracements the system should be stronger on the other side.

One of the metrics I have for my trading performance personally is did I follow my plan. So, I try to stick with my plan if I can, hopefully, it will not lead to a full wipeout, but if it does, that is the risk that I have accepted.

It would be fairly ridiculous but possible that I could wipe out my account three days after I decided to start a thread and share it with the world, my hubris would definitely be checked.
Buy, Sell, plus this other thing equals Profit!
  • #86
  • Jun 8, 2018 8:15am Jun 8, 2018 8:15am
Quoting JayDavis
{quote} Here ya go for the Bullish Piercing Line. {image}
Thank you..was hoping there were results for single patterns...
Vucking good EA coder... https://t.ly/AZjRM
  • #87
  • Jun 8, 2018 8:24am Jun 8, 2018 8:24am
RealTrade was my first broker. If you trade with EA, broker will cancel your profitable trades. This happened to me. They have strange rules: you can use an EA, but they can cancel any trades opened by EA for no reason. I do not recommend them, stay safe.
IenDzi.
  • #88
  • Edited 9:42am Jun 8, 2018 8:30am | Edited 9:42am
Quoting reteid2222
{quote} Thank you..was hoping there were results for single patterns...
Each pattern gets a page, I'm not sure if you can see them without a subscription.

Looking at this again, it is all lumped together.
Buy, Sell, plus this other thing equals Profit!
  • #89
  • Jun 8, 2018 8:35am Jun 8, 2018 8:35am
Quoting IenDzi
RealTrade was my first broker. If you trade with EA, broker will cancel your profitable trades. This happened to me. They have strange rules: you can use an EA, but they can cancel any trades opened by EA for no reason. I do not recommend them, stay safe. IenDzi.
Thanks for the heads up, it seems that there are quite a bit of negative comments toward them. Personally, they have not treated me in any untoward way and I have used EA's and gotten withdrawals. I'm not recommending them but they have been fine by me so far. However, a few months ago their link to the android MetaTrader 4 app failed so now I have to use a different method to check my trades on my phone.

But, I have been an unprofitable trader for most of my time with them...
Buy, Sell, plus this other thing equals Profit!
  • #90
  • Jun 8, 2018 9:41am Jun 8, 2018 9:41am
Quoting JayDavis
{quote} Each pattern gets a page, I'm not sure if you can see them without a subscription.
No...but U can post the 10 most successfull and I ll code the pattern alarm...
Vucking good EA coder... https://t.ly/AZjRM
  • #91
  • Jun 8, 2018 9:48am Jun 8, 2018 9:48am
Quoting reteid2222
{quote} No...but U can post the 10 most successfull and I ll code the pattern alarm...
Ok, think I have figured out what you need. Here is the pattern performance for EURAUD
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD - Pattern Performance.png Size: 73 KB


You could probably just use the ones that result in a 1% gain or more.

There is a different sheet for each currency pair that they track.

and here is EURUSD since that is so popular.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Pattern Performance.png Size: 69 KB


I am thinking I could have a more nuanced view and only take the trades based off of patterns that have shown good performance for that pair.
Buy, Sell, plus this other thing equals Profit!
  • #92
  • Jun 8, 2018 10:05am Jun 8, 2018 10:05am
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...
Looks like we are working towards an answer for improvement #2. I definitely believe that only taking the trades based off of patterns that have shown good performance for that pair would be a great improvement towards obtaining better entry points. This stuff I shall incorporate into my system shortly.
I want to thank the community for all their great suggestions, yeah I'll use dynamic spacing also.
Buy, Sell, plus this other thing equals Profit!
  • #93
  • Jun 8, 2018 6:33pm Jun 8, 2018 6:33pm
was nearly £50 up (£500 if id used 1 lot)
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD daily2.png Size: 20 KB
  • #94
  • Jun 8, 2018 8:00pm Jun 8, 2018 8:00pm
Quoting Emerald2112
was nearly £50 up (£500 if id used 1 lot) {image}
I'm putting some serious thought into using take profit levels, like say at 1 ATR(14) of profit close 1/2 your lots and then close another 1/4 at 2 ATR(14) leaving the last quarter to play out with the original rules of confirmed opposite candlestick pattern or stop-loss. I'm tired of seeing money gained and then lost. We could have locked in some of the phantom profits.
Buy, Sell, plus this other thing equals Profit!
  • #95
  • Jun 9, 2018 12:11am Jun 9, 2018 12:11am
Hi Jay, so i have been thinking about it, i think this system is best, when you do not add more orders as it goes, just keep the initial entry, or at most add just one more order after the first 100 pips...and let it ride,just my thought....
  • #96
  • Jun 9, 2018 2:23am Jun 9, 2018 2:23am
Quoting JayDavis
{quote} Ok, think I have figured out what you need. Here is the pattern performance for EURAUD {image} You could probably just use the ones that result in a 1% gain or more. There is a different sheet for each currency pair that they track. and here is EURUSD since that is so popular. {image} I am thinking I could have a more nuanced view and only take the trades based off of patterns that have shown good performance for that pair.
A good start...could you do this for all symbols and save the html files and pack all in ONE zip file?
Then I could import in Xl and analyse them all...

And what means confirmed? Only 66% confirmed but 100% successfull?
Vucking good EA coder... https://t.ly/AZjRM
  • #97
  • Jun 9, 2018 3:28am Jun 9, 2018 3:28am
Quoting reteid2222
{quote} A good start...could you do this for all symbols and save the html files and pack all in ONE zip file? Then I could import in Xl and analyse them all... And what means confirmed? Only 66% confirmed but 100% successfull?
Confirmed looks to be the confirmed patterns as a % of the total patterns so 2/3*100=66%

Then there's profitable patterns as a % of the confirmed.

How does it get the profit/loss % in the table though?

Hi Reteid2222. Your the best coder here I think
  • #98
  • Jun 9, 2018 4:04am Jun 9, 2018 4:04am
Quoting carbonado
Hi Jay, so i have been thinking about it, i think this system is best, when you do not add more orders as it goes, just keep the initial entry, or at most add just one more order after the first 100 pips...and let it ride,just my thought....
After the way it crashed and burned on Friday, I would agree. I am thinking just take the initial order and set a take profit for double the distance of the stop loss and get out with your profits, also there is no need to take every signal just take the formations that worked in the past. That would make it similar to a 2R system.
Buy, Sell, plus this other thing equals Profit!
  • #99
  • Edited 4:38pm Jun 9, 2018 4:24am | Edited 4:38pm
Quoting reteid2222
{quote} A good start...could you do this for all symbols and save the html files and pack all in ONE zip file? Then I could import in Xl and analyse them all... And what means confirmed? Only 66% confirmed but 100% successfull?
Ok will do once I get back to my computer,

Confirmed - means that the candlestick pattern was created then another candle closed beyond the signal line. For instance if say we see a bullish engulfing candle the signal line is near the top of the formation not counting the wicks. This formation would not be confirmed until such time as a bullish candle has closed above the signal line. So, after a candle pattern forms it could theoretically take days to get a confirmation or sometimes it may never confirm. If we don't get a bullish candle close above the signal line before the detection of a new pattern to track we would never get the confirmation. This is the meaning of the confirmation statistic. Bearish patterns need a bearish candle to close below the signal line and bullish patterns need a close above it. This can be more fully explained by reviewing candlesticker.com

In general, the theory is that we wait for confirmation to reduce false signals, since with confirmation it has proven itself a little bit, kinda like a down payment.

Successful - Once we have a confirmed candlestick formation and placed an order was it profitable? Using the close only on the confirmation of an opposite type of candlestick method.
Buy, Sell, plus this other thing equals Profit!
  • #100
  • Jun 9, 2018 4:30am Jun 9, 2018 4:30am
Quoting JayDavis
{quote} After the way it crashed and burned on Friday, I would agree. I am thinking just take the initial order and set a take profit for double the distance of the stop loss and get out with your profits, also there is no need to take every signal just take the formations that worked in the past. That would make it similar to a 2R system.
Try opening confirmed trades on sunday and monday and close them tuesday night. The market tends to reverse after tuesday.
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