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"Ancient" Trading System

  • Post #1
  • Quote
  • First Post: Oct 14, 2018 11:32pm Oct 14, 2018 11:32pm

"Ancient" Trading Strategy


Hello World of Traders

This is my first thread in ForexFactory. I will try my best to share and explain to fellow traders about my "Ancient" Trading Strategy. Why "Ancient"?..Because, it only based on pure Price Action plus using few tools such as Fibonacci Retracement & Expansion and trendline...maybe at the later stages,harmonic pattern (only focus on 1 to 1 pattern). After that I will share few SOP / Plan / Techniques..

What I learned by reading lot of threads in here:

1. Eventually some people will ask me to attach TE or post any proof that I trade
profitably from the system.
- I trade profitably using the system,I don't have to proof to YOU as I don't trade using
YOUR MONEY.Just WALK AWAY if you don't trust me.No need for personal attack.

2. Some will ask for EA, indicator and template.
- I don't have any working EA on the system.If you able to code EA based on what I share
please share with me.

3. Few will become guardian angel with the 'intention' to protect newbie.
- I thank to those who have genuine intention to protect newbie. But for those who just
want to show off, please walk away.

4. Few will come and trying to disprove the system and try to proof their system is the best.
- What work for me, not 100% will work for everybody.Depend on your personality, trading
style, daily life, discipline etc...If not suit your style, please walk away.

Let we begin with XAUUSD chart below (past price action) .I had marked on that chart with few symbols. Based on that chart, what can we conclude?What trading method can we extract?
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDWeekly.png Size: 22 KB
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Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDWeekly.png Size: 23 KB


We start with candle mark with YELLOW ARROW.Based on that candle, we have to determine buying pressure or selling pressure dominate the candle.Rule to determine buying or selling as follow:
1. Buyer - measure from LOW to CLOSE of the candle
2. Seller - measure from HIGH to CLOSE of the candle
and compare both portion for one candle then we can determine which side dominate that candle.

For example:
Attached Image


When looking at candle with YELLOW ARROW,it clearly showed SELLER dominating it.Then, based on that YELLOW arrow candle,we will focus on SELLING for the following week.Apply the same rule for consecutive weeks.Even if we enter blindly at the open of the market and close at end of the trading session,11 out 18 week will be profitable.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDWeekly.png Size: 23 KB


Pay attention to candles marked with RED ARROW.Usually I will called that candles DOJI.When it DOJI, it mean NO TRADE for the following weeks.One way to select pair to trade.
Close Trade At Profit
"Let we begin with XAUUSD chart below (past price action) .I had marked on that chart with few symbols. Based on that chart, what can we conclude?What trading method can we extract"?

20 guesses...not a very good way to start a thread.

"Anyone, anyone, Bueller, Bueller? "
Quoting CarlC
"Let we begin with XAUUSD chart below (past price action) .I had marked on that chart with few symbols. Based on that chart, what can we conclude?What trading method can we extract"? 20 guesses...not a very good way to start a thread. "Anyone, anyone, Bueller, Bueller? "
Sorry for that, I just want some interaction from the reader..maybe some of the traders share the same idea with me.
Close Trade At Profit
Support & Resistance.

For now, we only focus on:

RESISTANCE - Weekly HIGH & Daily HIGH
SUPPORT - Weekly LOW & Daily LOW

For example:

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH1.png Size: 46 KB


Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH4.png Size: 48 KB
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What is the plan for this week? Should we buy?
Quoting mpradeep
What is the plan for this week? Should we buy?
For which pair?
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Thank you very much for the threat. Sounds very promising. Interesting to read.

Quoting FinInsTrader
"Ancient" Trading Strategy Hello World of Traders This is my first thread in ForexFactory. I will try my best to share and explain to fellow traders about my "Ancient" Trading Strategy. Why "Ancient"?..Because, it only based on pure Price Action plus using few tools such as Fibonacci Retracement & Expansion and trendline...maybe at the later stages,harmonic pattern (only focus on 1 to 1 pattern). After that I will share few SOP / Plan / Techniques.. What I learned by reading lot of threads in here: 1. Eventually some people will ask me to attach...
the only place success comes before work is in the dictionary
Hello FinsTrader,

I was wondering do you have an indicator to mark out the buy/sell arrows to determine the trade for the week ahead?.

Thank you
Rafaz
Quoting Rafaz1
Hello FinsTrader, I was wondering do you have an indicator to mark out the buy/sell arrows to determine the trade for the week ahead?. Thank you Rafaz
why you not just read his post carefully instead being so lazy!!
  • Post #11
  • Quote
  • Edited at 8:21am Oct 15, 2018 7:42am | Edited at 8:21am
Quoting Rafaz1
Hello FinsTrader, I was wondering do you have an indicator to mark out the buy/sell arrows to determine the trade for the week ahead?. Thank you Rafaz
Hi Rafaz1

I can predict the future I guess...lol.Sorry,I dont have the indicator for that.

FIT
Close Trade At Profit
Just want explain further about how to determine our trading bias.

For Intraday trade - refer to PREVIOUS DAY candle
For Swing trade - refer to PREVIOUS WEEK Candle
For Position trade - refer to PREVIOUS MONTH candle

Thats all the basic concept.Make sure you interpret the candle based on biggest portion, buyer or seller..and PLEASE DON’T interpret based on CANDLE COLOUR.It will trap you especially at the market top/bottom.

Some might call this system Trend following system.Named it whatever we want,as long as it give us money in the bank..

FIT
Close Trade At Profit
Quoting FinInsTrader
Rule to determine buying or selling as follow: 1. Buyer - measure from LOW to CLOSE of the candle 2. Seller - measure from HIGH to CLOSE of the candle and compare both portion for one candle then we can determine which side dominate that candle.

One question: why the candle marked by me with a down yellow arrow doesn't act as a trigger for selling ? It's a quite bearish one, according to rules ... If I follow the rules blindly, the next candle ( the green one ) is a game field for selling ... And this candle also, according to rules, will trigger a buying for the next week ( marked with aqua down arrow ).

And that candle ( marked with aqua down arrow ) will trigger a selling next week, according to rules.

So why are they marked with x'es and not as trigger candle ? Are there any other rules ?

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDWeekly.png Size: 18 KB
  • Post #14
  • Quote
  • Edited at 1:54pm Oct 15, 2018 1:41pm | Edited at 1:54pm
Quoting forexcentric
{quote} One question: why the candle marked by me with a down yellow arrow doesn't act as a trigger for selling ? It's a quite bearish one, according to rules ... If I follow the rules blindly, the next candle ( the green one ) is a game field for selling ... And this candle also, according to rules, will trigger a buying for the next week ( marked with aqua down arrow ). And that candle ( marked with aqua down arrow ) will trigger a selling next week, according to rules. So why are they marked with x'es and not as trigger candle ? Are there any...
Buying and selling pressure is a form of delta based on OHLC.
So probably he invests on base of up candle when delta showing negative, and down candle when delta showing positive.
i have developped it on NT8
https://gyazo.com/f55e6f3a0383b06cd6a680d5ff23f5bf
Weekly AAPL

Is that correct Fininstrader ?
Sorry friends, but why you don't read the rules? It's really easy:
1. Buyer - measure from LOW to CLOSE of the candle
2. Seller - measure from HIGH to CLOSE of the candle

So: if low to close is bigger than high to close, it's a bullish bias for the next session...
the only place success comes before work is in the dictionary
Quoting forexcentric
{quote} One question: why the candle marked by me with a down yellow arrow doesn't act as a trigger for selling ? It's a quite bearish one, according to rules ... If I follow the rules blindly, the next candle ( the green one ) is a game field for selling ... And this candle also, according to rules, will trigger a buying for the next week ( marked with aqua down arrow ). And that candle ( marked with aqua down arrow ) will trigger a selling next week, according to rules. So why are they marked with x'es and not as trigger candle ? Are there any...
Hi Forexcentric,

Good question..The and to indicate trade that will result in profit or loss when we refer to previous week as a buy/sell trigger.Where is profitable trade, is loss trade.
The candle the that you mark with yellow down arrow, if you look closely to the candle before that, it a buy candle ( for this example I consider as a buy candle, even though normally I consider it as a DOJI ). Please take note, for this example purpose we blindly open trade when market open and close trade when market close on Friday. To hold a position more than a week will be another topic where we will discuss about end of current trend and market timing.

Attached Image


FIT
Close Trade At Profit
Thank you FIT! Now it's crystal clear!
From what I had shared so far, we can derive 1 trading plan using timeframe weekly or daily.

In the chart screenshot below, pay attention to blue box, I identify it as consolidation / accumulation / price confined in a range.Wait until a clear breakout from the range and trade following the rule I stated before using daily or weekly timeframe..To reduce the risk, you have to refine your entry.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDWeekly1.png Size: 20 KB


That SOP number 1..lazy setup.

FIT
Close Trade At Profit
Quoting FinInsTrader
{quote} Hi Forexcentric, Good question..The and to indicate trade that will result in profit or loss when we refer to previous week as a buy/sell trigger.Where is profitable trade, is loss trade. The candle the that you mark with yellow down arrow, if you look closely to the candle before that, it a buy candle ( for this example I consider as a buy candle, even though normally I consider it as a DOJI ). Please take note, for this example purpose we blindly open...
Hi FinInsTrader, I'm getting confuse with the doji, how do we determine what is and what is not a doji? Also the candle I have marked on your chart seems to indicate buying for the next session?

Sorry if I'm reading this all wrong.
Attached Image (click to enlarge)
Click to Enlarge Name: ft.PNG Size: 47 KB
All charts/ideas based on UK time zone
Quoting sponge
{quote} Hi FinInsTrader, I'm getting confuse with the doji, how do we determine what is and what is not a doji? Also the candle I have marked on your chart seems to indicate buying for the next session? Sorry if I'm reading this all wrong. {image}
Hi Sponge,

Thank you for spotting my mistake there, yes the candle that you marked should indicate buy for the next session. I apologize for that,so the candle after that should not be profitable if we focus on buy.
Attached Image


Regarding the Doji, hope the photo below will clear the confusion.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 13 KB


Doji = portion buyer and seller are equal in size.
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