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Quad Candle System

  • #2,521
  • Aug 31, 2018 12:40am Aug 31, 2018 12:40am
Quoting OAPDave
{image}
Yes that does look possible.

Masterrmind...............
Master your Mind then Master your Trades
  • #2,522
  • Aug 31, 2018 12:45am Aug 31, 2018 12:45am
Quoting OAPDave
Could be interesting, it's either heading for a 256 Chart shift or a bounce ? {image} {image}
Fair bit of pressure on the aussie currently and a strong greenback.

Could be traded either way for a handful of pips though.

Longer term look to short it from up a bit higher near the 0.73 handle or thereabouts or long it from the 0.72 handle.

Plenty can happen in the meantime though.

Tread carefully.

Masterrmind...............
Master your Mind then Master your Trades
  • #2,523
  • Sep 5, 2018 2:56am Sep 5, 2018 2:56am
GBPUSD [M15 TF shown with manual over-ride MMLs at half the D1 octive on 64 settings]

Another short term long cycle added.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB

All pending orders (1 by Buy Limit and 4 by Buy Stops).

Initial risk is that price drives down to the lows and takes out my Limit order at SL level.

Note the larger relative volume staggered above current price and NOT below current price.

Masterrmind...............
Master your Mind then Master your Trades
  • #2,524
  • Sep 5, 2018 6:40am Sep 5, 2018 6:40am
Quoting OAPDave
Back to trading like a Rabbit with the help of Range Expansion, Momentum and Levels {image} {image} {image}
Sounds great !

Get hold of one pair for a nice ride and that GN short will be long forgotten.

Good to see you back again.

Now lets start collecting hundreds of pips.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,525
  • Sep 5, 2018 8:31am Sep 5, 2018 8:31am
Quoting Masterrmind
GBPUSD [M15 TF shown with manual over-ride MMLs at half the D1 octive on 64 settings] Another short term long cycle added. {image} All pending orders (1 by Buy Limit and 4 by Buy Stops). Initial risk is that price drives down to the lows and takes out my Limit order at SL level. Note the larger relative volume staggered above current price and NOT below current price. Masterrmind...............
GBPUSD [M15 TF; short term long cycle]

Blinding success !

+9.8%
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 25 KB

Closed out all 5 entries for profit.

Masterrmind..............
Master your Mind then Master your Trades
  • #2,526
  • Sep 5, 2018 8:51am Sep 5, 2018 8:51am
Quoting OAPDave
{quote} Well Done, found this interesting after the latest BREXIT NEWS {image}
Net gain on the real account is now over +40% so looking good.

Traders might notice that this is the 2nd short term long cycle on GU to be profitable.

Hints on Setup:
MML setup well in advance, timing, favorable flow of news and strong momentum to the upside.

Onto the next setup.

ps. and yet traders in general lack the patience to follow this type of system.

pps. always some treacherous waters to navigate but lets see how much the gain in Equity will be at year end ... might surprise a few people.

ppps. One thing for sure is that I could stop trading for the rest of the year on this account and its gain would be more than 20 times bank interest.

Masterrmind..............
Master your Mind then Master your Trades
  • #2,527
  • Sep 5, 2018 9:04am Sep 5, 2018 9:04am
Quoting Masterrmind
{quote} Net gain on the real account is now over +40% so looking good. Traders might notice that this is the 2nd short term long cycle on GU to be profitable. Hints on Setup: MML setup well in advance, timing, favorable flow of news and strong momentum to the upside. Onto the next setup. ps. and yet traders in general lack the patience to follow this type of system. pps. always some treacherous waters to navigate but lets see how much the gain in Equity will be at year end ... might surprise a few people. ppps. One thing for sure is that I could...
The 5 trades.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 18 KB

Screenshot does not show SLs but you can be 100% certain that stops are applied.

Have a great day !

Masterrmind...............
Master your Mind then Master your Trades
  • #2,528
  • Sep 5, 2018 9:11am Sep 5, 2018 9:11am
Quoting OAPDave
Yes, but the all parties conducting the Brexit negations have found away to get better than Bank Interest as well, before they are made redundant and they do not have to risk a penny of there own hard earned to do it ?
Unfortunately most FX retail traders struggle to BE by year end, and sadly many do not even make a few months.

There are many ways though to consistently beat bank interest but the aim should be to beat relevant sector benchmarks.

Masterrmind..............
Master your Mind then Master your Trades
  • #2,529
  • Sep 9, 2018 3:38am Sep 9, 2018 3:38am
RELEVANT SECTOR BENCHMARKS FOR FX TRADING

So what is a 'relevant sector benchmark' when comparing FX retail trading results ?

How do you know that your own trading results are 'poor','average', 'good' or 'very good' ?

Is it all about Gain in Equity or should Risk also be considered ?

Note: When I refer to 'benchmarks' I am not inferring 'fixings' which fund managers use to assess the value of international portfolios.

Masterrmind..............
Master your Mind then Master your Trades
  • #2,530
  • Sep 11, 2018 12:01am Sep 11, 2018 12:01am
Quoting Masterrmind
RELEVANT SECTOR BENCHMARKS FOR FX TRADING So what is a 'relevant sector benchmark' when comparing FX retail trading results ? How do you know that your own trading results are 'poor','average', 'good' or 'very good' ? Is it all about Gain in Equity or should Risk also be considered ? Note: When I refer to 'benchmarks' I am not inferring 'fixings' which fund managers use to assess the value of international portfolios. Masterrmind..............
Some common parameters used by investors to assess a fund manager's performance.

Its all about Reward for the Risk taken and how consistent the returns are over the longer term.

  1. Reward -- How much can he or she make for you?
  2. Risk -- How much risk is taken to achieve those results?
  3. Sustainability -- How long has the manager been able to support performance?
  4. Volatility -- How wide swinging is the performance or equity cycle?
  5. Frequency -- How often does the program trade?
  6. Cost -- What are the fees for services rendered? Not relevant for a sole trader trading for her/himself.

[Source: http://www.investorguide.com]

Lets also add in short and longer term market exposure based on the applied trading strategy (eg. automated/technical and fundamental).

The trading strategy might also be a combo type approach.

The point here is that whilst tracking trading performance should be second nature its more important to track and address any weaknesses.

In some respects the actual trading methodology may dictate how the performance should be measured.
Not all trading strategies should be measured the same way.

There are many simple measures to apply initially to see how you are performing such as:

1. Over a 12 month period is your Gain in Equity at least greater than bank interest ?
If you are not beating 2% p.a then you need to start looking at the reasons why, in such a case you might as well put your money in a bank as the implied risk is far lower than the risk applied on an FX trading account even if its 1:1 leverage;

2. SP500 Index
Return over a 12 month period (or for example, Jan 2018 to current date if you were trading over this period and if not then pro-rata your return to X number of months).
If your trading results are not beating the SP500 then might be better to put your money into buying an Index or a mini Index based on capital.

3. other Indices

4. Specific FX Indices

5. Specific Performance metrics using key analytics

6. other performance measures

Points 4, 5 and 6 will be elaborated on with several examples in an upcoming post.

My account will also be assessed as a current real example and a performance rating applied to it.

Masterrmind...............

Master your Mind then Master your Trades
  • #2,531
  • Sep 11, 2018 1:15am Sep 11, 2018 1:15am
Views of 4,16 and 256 remember new trade frames ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU 4.jpg Size: 561 KB
Click to Enlarge Name: GU 16.jpg Size: 614 KB
Click to Enlarge Name: GU 256.jpg Size: 637 KB
  • #2,532
  • Sep 11, 2018 1:48am Sep 11, 2018 1:48am
Quoting OAPDave
Views of 4,16 and 256 remember new trade frames ? {image} {image} {image}
Current bullish intent by the cable trading close to the 1.30500 level.

Current DD on account for the 2 long trades is now less than 2% in total.

Whilst I will monitor these 2 trades my plan is to get into another suitable cycle on a different pair.

Some D1 charts will be posted very soon.

Any trader have any suggestions about which pair (long or short) worth considering ?

Masterrmind..............
Master your Mind then Master your Trades
  • #2,533
  • Sep 11, 2018 2:42am Sep 11, 2018 2:42am
Well with the outcome of Brexit sorted (wish full thinking) The Euro as a base as some solid Octave levels to play with
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: ec.jpg Size: 431 KB
Click to Enlarge Name: ej.jpg Size: 445 KB
Click to Enlarge Name: en.jpg Size: 434 KB
  • #2,534
  • Sep 11, 2018 2:45am Sep 11, 2018 2:45am
Some charts to consider

EURNZD [D1; 64/0/0; +ve swap short]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 25 KB

GBPCHF [D1; 64/0/0; +ve swap long]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 25 KB

GBPNZD [D1; 64/0/0; +ve swap short]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 21 KB

NZDCAD [D1; 64/0/0; +ve swap long]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 20 KB

Careful on the timing of entries as some pairs have been rather aggressive.

If I enter into one of these pairs you can expect a post to confirm it !

Masterrmind.............
Master your Mind then Master your Trades
  • #2,535
  • Sep 11, 2018 2:56am Sep 11, 2018 2:56am
Quoting Masterrmind
Some charts to consider EURNZD [D1; 64/0/0; +ve swap short] {image} GBPCHF [D1; 64/0/0; +ve swap long] {image} GBPNZD [D1; 64/0/0; +ve swap short] {image} NZDCAD [D1; 64/0/0; +ve swap long] {image} Careful on the timing of entries as some pairs have been rather aggressive. If I enter into one of these pairs you can expect a post to confirm it ! Masterrmind.............
With ESMA rules you would be trading Non Majors " 10 : 1 ?
  • #2,536
  • Sep 11, 2018 2:59am Sep 11, 2018 2:59am
Quoting OAPDave
Well with the outcome of Brexit sorted (wish full thinking) The Euro as a base as some solid Octave levels to play with {image} {image} {image} {image}
Yes I'm looking at EN but also GN to a lesser extent.

EN might be the 'safer' entry but I'll need another few days to form a'better' opinion on which pair to cycle up into.

There are a few indices worth considering as well as a few commodities but I'll focus on currency pairs at this stage (prefer a larger account when getting into the commodities especially my favorite Silver).

Masterrmind.............
Master your Mind then Master your Trades
  • #2,537
  • Sep 11, 2018 3:01am Sep 11, 2018 3:01am
Quoting OAPDave
{quote} With ESMA rules you would be trading Non Majors " 10 : 1 ?
I do trade them at less than that leverage you posted but on far larger account.

On a small account such as this 1K account ..... forget it ... completely ... just forget it !

Fortunately I have up to 500:1 leverage at my disposal so all is good.

ps. using those rules just trade EURUSD and not much of anything else.

Masterrmind..............
Master your Mind then Master your Trades
  • #2,538
  • Sep 11, 2018 3:10am Sep 11, 2018 3:10am
MM 64
Attached Image (click to enlarge)
Click to Enlarge Name: Silver 64.jpg.jpg Size: 441 KB
  • #2,539
  • Sep 11, 2018 3:17am Sep 11, 2018 3:17am
Quoting OAPDave
MM 64 {image}
My favorite is the chart you posted being XAGUSD.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 25 KB

However, the chart I'm looking at is actually Silver versus the Euro.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 22 KB

Masterrmind..............
Master your Mind then Master your Trades
  • #2,540
  • Sep 11, 2018 3:37am Sep 11, 2018 3:37am
GBPUSD [D1; Update]

Just closed out a trade at BE.

Now only the 1 long entry left in this cycle, so I'll let it play out until such time as I want to close it out.
This could mean a very short term cycle of a few trades such that the profit might offset the potential loss.

Plan is to focus on positive swap setups so my long term cycles are not getting slowly milked by the onging negative swap rates.

Masterrmind...............
Master your Mind then Master your Trades
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