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

  • #281
  • Jun 28, 2018 12:30am Jun 28, 2018 12:30am
Quoting hibra68
Jay try to filter the trades using myfxbook. There you could see retail positions. Look for % of retailers long vs short. If for example long positions are 70% or more than we go the other way we go short. ( so we trade against retail) But the volume must be above 5000 . In the pic. Usdcad is 88% short with 7466 volume above 5000. Everything is in order. So we are looking for longs. So if you get a candlestick pattern for long take it. {image}
You are thinking!
i have tried to start trades with a trend, now i prefer to follow the trend
  • #282
  • Jun 28, 2018 12:40am Jun 28, 2018 12:40am
JAY! Are you seeing this? Most signals changed at the end of yesterday's trade yet you did not exit
Attached Image (click to enlarge)
Click to Enlarge Name: jay1.JPG Size: 123 KB
i have tried to start trades with a trend, now i prefer to follow the trend
  • #283
  • Jun 28, 2018 1:38am Jun 28, 2018 1:38am
Quoting jereajali
{quote} You are thinking!

...he is describing the system in another thread.

https://www.forexfactory.com/showthread.php?t=761579

Trade well.
  • #284
  • Jun 28, 2018 1:42am Jun 28, 2018 1:42am
Quoting jereajali
JAY! Are you seeing this? Most signals changed at the end of yesterday's trade yet you did not exit {image}
I am sure Jay has not said what he did, or did not do...

Cheers.
  • #285
  • Jun 28, 2018 1:48am Jun 28, 2018 1:48am
Quoting krismitt
{quote} I am sure Jay has not said what he did, or did not do... Cheers.
Wer not here to read minds.
  • #286
  • Edited 8:48am Jun 28, 2018 8:12am | Edited 8:48am
Hi Jay,

Another observation, correlation of pairs may be a good thing to consider when taking trades. An example, looking at the charts GBPUSD, EURUSD and GBPJPY move in a similar fashion so taking positions in these pairs in opposing directions may be counterproductive, especially considering this system is about holding positions for a long time (one may get away with a short scalp or few hours in opposing directions cause they don't move in same direction pip-for-pip).

So right now your GBPUSD/EURUSD short and GBPJPY long positions are kind of like being on both sides of the same trade.

Cheers, and more pips'
FX-M
In pursuit of freedom!
  • #287
  • Jun 28, 2018 9:47am Jun 28, 2018 9:47am
Quoting FX-Mzala
Hi Jay, Another observation, correlation of pairs may be a good thing to consider when taking trades. An example, looking at the charts GBPUSD, EURUSD and GBPJPY move in a similar fashion so taking positions in these pairs in opposing directions may be counterproductive, especially considering this system is about holding positions for a long time (one may get away with a short scalp or few hours in opposing directions cause they don't move in same direction pip-for-pip). So right now your GBPUSD/EURUSD short and GBPJPY long positions are kind of...
true,
if you follow myfxbook like i described in previos post, it takes care of correlation and its perfect for long term, at least weekly.
  • #288
  • Jun 28, 2018 8:49pm Jun 28, 2018 8:49pm
Quoting JayDavis
I must confess. I have been making bank with a discretionary trading system. It may not work for you but here it goes. I buy on confirmed bullish candlestick patterns, and I sell on confirmed bearish candlestick formations. Currently, when a trade reaches 100 pips of profit, I add another position in the same direction with half the initial lot size. If the position garners another 100 pips of profit, I add another lot which is a quarter the size of the initial lot size. I close a position when and if it closes beyond a stop-loss or a confirmed...

I will try to absorb all these stuffs bro Jay but I know this is a big homework for me but I will try.
The Past mistakes are your guides to provide you directions of the present.
  • #289
  • Jun 29, 2018 8:30am Jun 29, 2018 8:30am
I wonder why AUDUSD did not receive SELL signal day before...SL level was hit and bearish candle closed below, as it was written on americanbulls BEARISH STOP LOSS. But still STAY LONG.
  • #290
  • Jun 29, 2018 9:17am Jun 29, 2018 9:17am
very high drawdown
  • #291
  • Jun 29, 2018 11:28am Jun 29, 2018 11:28am
Quoting jhonayahya
very high drawdown
Yes, unbelievably so!!
  • #292
  • Jun 29, 2018 12:44pm Jun 29, 2018 12:44pm
Quoting DeejaySnipes
So far so good. 1. check american bulls for signal 2. confirm pattern for entry on candlesticker 3. enter 4. enjoy the rest of the day. will revert with details thanks again Jay
1. Check American Bulls for signal
2. confirm pattern for entry on Candlesticker
3. enter trade
4. profit target 80% of ATR(14)
5. ONE TRADE ONLY.
6. Rinse and repeat.


was a green pip week. will try again next week..

thanks again Jay.
  • #293
  • Jun 29, 2018 1:39pm Jun 29, 2018 1:39pm
Quoting Loqito
I wonder why AUDUSD did not receive SELL signal day before...SL level was hit and bearish candle closed below, as it was written on americanbulls BEARISH STOP LOSS. But still STAY LONG.
We wait for the end of day and check if its candle closed below the bearish stop loss which in this case it did do just that as you mentioned but the market must do this twice. Meaning we wait for the next end of day to close below the previous new low created. If this thus happen I reckon AB will issue out a Sell signal for it but for now its still a long position. This is why we do not place the stop loss per jay's system. Jay am I correct?
Manage your money like a fucking grown-up
  • #294
  • Jun 29, 2018 2:08pm Jun 29, 2018 2:08pm
Quoting oswaldmotape
{quote} but the market must do this twice
Thanks for reply, as far as I understand, even one-time daily close below SL should activate SELL. Two daily lows or one daily close. Probably my understanding is wrong, but it is strange to wait for the second daily close in minus...
AB
Quote
Following the BUY, if prices go down instead of going up, and close or make two consecutive daily lows below the stop loss level, while no bearish pattern is detected, then the stop loss is triggered
  • #295
  • Jul 3, 2018 5:54am Jul 3, 2018 5:54am
Where is thread author? Is this strategy still profitable? I see there are so many negative trades.
  • #296
  • Jul 3, 2018 6:04am Jul 3, 2018 6:04am
Quoting jhonayahya
Where is thread author? Is this strategy still profitable? I see there are so many negative trades.
The strategy is still profitable buddy.
Manage your money like a fucking grown-up
  • #297
  • Jul 3, 2018 9:43am Jul 3, 2018 9:43am
Hello Mr. Jay,

I do not trade this system, however it has good potential. Study the strengths and weaknesses and make the necessary adjustments. Importantly, ACCEPT THE LOSSES!
The sooner you do this the easier and more possible it is to recover. No capital=No trading! Cut it and shake off the mistake.

Just friendly trader to trader advise.
Bless.
Hero Traders Live to see their Accounts Die!
  • #299
  • Jul 3, 2018 10:12am Jul 3, 2018 10:12am
Quoting oswaldmotape
{quote} The strategy is still profitable buddy.
No. I think he blew up this account. Huge drawdown from past week.
  • #300
  • Jul 3, 2018 12:14pm Jul 3, 2018 12:14pm
Jay my friend, I am not a great trader but if i may give some advice - dont be in a hurry to get rich. You should never risk your entire account on one set of trades.
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