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Quad Candle System

  • #3,001
  • Dec 13, 2018 7:48am Dec 13, 2018 7:48am
HI ... sorry im having this issue with the dashboard... what can I do ? Thanks in Advance...
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  • #3,002
  • Dec 13, 2018 8:15am Dec 13, 2018 8:15am
Hi Mastermind,

I like to know if there is a "strategy" based on the spreads of any currency pair? I know that this is a stupid question but I was just curious?

Thank you

Jeff................
Happily Married to MY College Sweet Heart!
  • #3,003
  • Dec 13, 2018 2:15pm Dec 13, 2018 2:15pm
Quoting Velazquez
HI ... sorry im having this issue with the dashboard... what can I do ? Thanks in Advance... {image}
Please download the current version from Post 1.

It is advisable to check the dash upload date not only at month start but at other times also as I may have uploaded an updated version.

Perhaps I will have to mention any new update in the thread so traders are aware.

Masterrmind.........
Master your Mind then Master your Trades
  • #3,004
  • Dec 13, 2018 5:01pm Dec 13, 2018 5:01pm
Quoting Jeff59FX
Hi Mastermind, I like to know if there is a "strategy" based on the spreads of any currency pair? I know that this is a stupid question but I was just curious? Thank you Jeff................
Yes there are many strategies based around symbol spread.

The 'better' strategies in this space in my opinion are the ones using highly sophisticated algorithms in automated HFT.

To be very good in this space you need to have access to some very powerful computing infrastructure.

The ability to open and close trades within milliseconds or faster capturing small profits over thousands of transactions based not only on spread changes but any other implemented strategy.

Retail traders/programmers have limited chance of being successful in this field because typically it requires a highly skilled team of experts and an excellent data feed to the trade servor without "manipulation".

To get some basic ideas google "High Frequency Trading".

ps. HFT does not form any part of the Quad Candle System !

Masterrmind..............
Master your Mind then Master your Trades
  • #3,005
  • Dec 14, 2018 1:55am Dec 14, 2018 1:55am
COMPOUNDING USING REGULAR DEPOSITS

The following information is provided to those traders wishing to accelerate their gains by making regular deposits into their trading accounts.

Account #2 will commence trading in early January 2019 and make use of regular deposits.

Account start balance = US$1000

Compound rate = 5.93% (assumed consistent MoM)

Monthly Deposit Scenarios

1. $0/month deposit
--> 1000 @ 5.93% ............................................................................................................ --> Time to 1M ~ 10 years + 0 months

2. $25/month deposit
--> (Year 1 only, not Month 1) = 11 deposits*$25 = $275 (Tot Dep. =1000+275=1275) --> Time to 1M ~ 9 years + 9 months
--> (All Months excl. M1 until target hit) constant monthly deposits = 113 deposits*$25 = 2825 --> Time to 1M ~ 9 years + 6 months

3. $50/month deposit
--> (Year 1 only, not Month 1) = 11 deposits*$50 = $550 (Tot Dep. =1000+550=1550) --> Time to 1M ~ 9 years + 7 months
--> (All Months excl. M1 until target hit) constant monthly deposits = 109 deposits*$50 = 5450 --> Time to 1M ~ 9 years + 2 months

4. $75/month deposit
--> (Year 1 only, not Month 1) = 11 deposits*$75 = $825 (Tot Dep. =1000+825=1825) --> Time to 1M ~ 9 years + 4 months
--> (All Months excl. M1 until target hit) constant monthly deposits = 105 deposits*$75 = 7875 --> Time to 1M ~ 8 years + 10 months

5. $100/month deposit
--> (Year 1 only, not Month 1) = 11 deposits*$100 = $1100 (Tot Dep. =1000+1100=2100) --> Time to 1M ~ 9 years + 2 months
--> (All Months excl. M1 until target hit) constant monthly deposits = 102 deposits*$100 = 10200 --> Time to 1M ~ 8 years + 7 months

6. $200/month deposit
--> (Year 1 only, not Month 1) = 11 deposits*$200 = $2200 (Tot Dep. =1000+2200=3200) --> Time to 1M ~ 8 years + 8 months
--> (All Months excl. M1 until target hit) constant monthly deposits = 94 deposits*$200 = 18800 --> Time to 1M ~ 7 years + 11 months

7. $300/month deposit
--> (Year 1 only, not Month 1) = 11 deposits*$300 = $3300 (Tot Dep. =1000+3300=4300) --> Time to 1M ~ 8 years + 3 months
--> (All Months excl. M1 until target hit) constant monthly deposits = 88 deposits*$300 = 26400 --> Time to 1M ~ 7 years + 5 months

8. $400/month deposit
--> (Year 1 only, not Month 1) = 11 deposits*$400 = $4400 (Tot Dep. =1000+4400=5400) --> Time to 1M ~ 8 years + 0 months
--> (All Months excl. M1 until target hit) constant monthly deposits = 84 deposits*$400 = 33600 --> Time to 1M ~ 7 years + 1 months

9. $500/month deposit
--> (Year 1 only, not Month 1) = 11 deposits*$500 = $5500 (Tot Dep. =1000+5500=6500) --> Time to 1M ~ 7 years + 9 months
--> (All Months excl. M1 until target hit) constant monthly deposits = 81 deposits*$500 = 40500 --> Time to 1M ~ 6 years + 10 months

10. $1000/month deposit
--> (Year 1 only, not Month 1) = 11 deposits*$1000 = $11000 (Tot Dep. =1000+11000=12000) --> Time to 1M ~ 6 years + 10 months
--> (All Months excl. M1 until target hit) constant monthly deposits = 70 deposits*$1000 = 70000 --> Time to 1M ~ 5 years + 11 months

Time to target depends on several factors with the main one being the ability to consistently increase account equity over the longer term.

The earlier in the cycle that deposits are made the more beneficial.

In a future post I will show several Excel charts to better illustrate how compounding with regular deposits drastically reduces the time to target.

In some cases depending on the deposit amount the time to target might only be 1 year less than if no deposit was made but many things can go wrong over an extra year or indeed at any time so getting to the target even a few months sooner is quite an advantage.

The disadvantage is having to make regular deposits and some traders simply cannot or do not want too.

What I will do is trade an account with regular deposits using the same QCS Method in a transparent manner so traders can see the difference.

I'm sure you will all find it rather interesting.

ps. values above are only meant to be approximations.

Good trading,

Masterrmind..............
Master your Mind then Master your Trades
  • #3,006
  • Dec 14, 2018 2:55am Dec 14, 2018 2:55am
Quoting Masterrmind
COMPOUNDING USING REGULAR DEPOSITS The following information is provided to those traders wishing to accelerate their gains by making regular deposits into their trading accounts. Account #2 will commence trading in early January 2019 and make use of regular deposits. Account start balance = US$1000 Compound rate = 5.93% (assumed consistent MoM) Monthly Deposit Scenarios 1. $0/month deposit --> 1000 @ 5.93% ............................................................................................................ --> Time to 1M ~ 10 years + 0 months...
Look good, feel good but we may need some reality check.... I recommend to read the following post from Hanover:
https://www.forexfactory.com/showthr...93#post7416193
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #3,007
  • Dec 14, 2018 9:17am Dec 14, 2018 9:17am
Quoting Masterrmind
COMPOUNDING USING REGULAR DEPOSITS The following information is provided to those traders wishing to accelerate their gains by making regular deposits into their trading accounts. Account #2 will commence trading in early January 2019 and make use of regular deposits. Account start balance = US$1000 Compound rate = 5.93% (assumed consistent MoM) Monthly Deposit Scenarios 1. $0/month deposit --> 1000 @ 5.93% ............................................................................................................ --> Time to 1M ~ 10 years + 0 months...
That sounds like quite a plan and be sure I'll join in with my live account starting January. Not sure if I'll be able to keep up with the growth rate but at least it's the best chance I think I can get into making it.
This thread is transforming into an all-inclusive solution: trading method tutorials, way of thinking in how to enter/manage trades, money management rules and a long-term trading plan.
It's beginning to look a lot like Christmas A great gift.
Forex - It's finger lickin' good
  • #3,008
  • Dec 14, 2018 9:36am Dec 14, 2018 9:36am
Quoting heispark
{quote} Look good, feel good but we may need some reality check.... I recommend to read the following post from Hanover: https://www.forexfactory.com/showthr...93#post7416193 {image}
I mean no offence, just sharing my opinion, but I think it stands a chance and I'm not just saying this because I'm following the thread. I'm mostly counting on the fact that Masterrmind has been trading since the 80s so he's seen it all and can estimate probabilities of achieving something. The fact that he's trading for a living is a big plus combined with low-risk policy and long-term goals.
Also, I think two other aspects would be interesting: he's not saying that he'll achieve monthly with a clockwork precision the 5.93% but rather as an average. Another thing is that this won't make it for followers a way to trade for a living since all money stays in the forex account
The fact that he stands a chance doesn't mean followers can replicate it unless they do the same transactions as he does, which would be a loss since the purpose is to learn to trade and not learning to copy.

This journey can end in a few ways:

1) If it goes to 1M it's going to become a legendary journey and it'll be recalled with pleasure by thread starter and followers.
2) If it goes profitable but not to 1M, it's amazing having a mentor for so long showing you the exact way of trading and possibility to ask questions in real time about trades. Plus it's FREE and in the end followers have the chance of applying a system and trade profitably. Who knows even maybe becoming traders for a living.
3) It goes bust and account is lost. I think highly improbable but we stand a chance to learn what is wrong as I'm sure there'll be debates about this.

Either way, it's a chance to follow a profitable trader showing live trading and LEARN. I think this is the whole purpose of the trade and the journey puts theory into practice.
Possible? I think YES, Easy? I think NO, but a lot to learn out of it.
Forex - It's finger lickin' good
  • #3,009
  • Dec 14, 2018 6:07pm Dec 14, 2018 6:07pm
Quoting heispark
{quote} Look good, feel good but we may need some reality check.... I recommend to read the following post from Hanover: https://www.forexfactory.com/showthr...93#post7416193 {image}
Everyone has an opinion and is entitled to it.

I disagree with much of what is written in that post even though I'm a numbers guy I'm also a long term trader with experience.

How many of those traders with opinions do you see trading a transparent trading account outlining their setups in advance of the fact and following through with trade analysis be it a good or bad trading outcome ?

I'm guessing zero !

My accounts are open to the public and transparent but importantly are traded within risk levels outlined well in advance.

The compounding figures are there for the theoretical possibilities as well as motivation.
The reality can be very different and I'm not proposing that such an achievement is easy, it is not, but it is very possible.

Some traders can handle having 'difficult' targets to meet whilst others simply prefer to scalp the market getting what they can here and there.

An Excel sheet showing both the theoretical and the actual trading results (based on myfxbook analytics) has also been posted.

Often the ones who have never made good money in this industry promote 'dark clouds' and discourage others simply because they might have failed many times.

Certainly a few traders make money out there, you only need to look.

My approach is geared differently, almost from an 'investor' type outlook over the longer term even though we are trading in a speculative market.

I hope you and many others check in from time to time.

It will be a journey to remember.

ps. opinions are only opinions and they don't mean much in the context of trading reality.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,010
  • Dec 14, 2018 6:20pm Dec 14, 2018 6:20pm
Quoting pipsandkfc
{quote} That sounds like quite a plan and be sure I'll join in with my live account starting January. Not sure if I'll be able to keep up with the growth rate but at least it's the best chance I think I can get into making it. This thread is transforming into an all-inclusive solution: trading method tutorials, way of thinking in how to enter/manage trades, money management rules and a long-term trading plan. It's beginning to look a lot like Christmas A great gift.
Yes and nicely put.

Best part is I know it works and its 100% free.

January here we come !

Masterrmind.............
Master your Mind then Master your Trades
  • #3,011
  • Dec 14, 2018 6:54pm Dec 14, 2018 6:54pm
Quoting pipsandkfc
{quote} I mean no offence, just sharing my opinion, but I think it stands a chance and I'm not just saying this because I'm following the thread. I'm mostly counting on the fact that Masterrmind has been trading since the 80s so he's seen it all and can estimate probabilities of achieving something. The fact that he's trading for a living is a big plus combined with low-risk policy and long-term goals. Also, I think two other aspects would be interesting: he's not saying that he'll achieve monthly with a clockwork precision the 5.93% but rather...
The proof is in the pudding as they say !

This will be a marathon not a sprint.
If I don't meet monthly target on average then all it means is that the ultimate goal will take a little bit longer.

Firstly, the account is just on a year old and its still doing ok.

How aggressive have I been in trading it ?

Lets pull up some stats and have a look...

As of December 15, 2018:

Total trades in 12 months = 57 (average 1.1 trades/week ... certainly not agressive!)

Total volume in 12 months = 1.72 lots (average 0.03 lots per trade ... not aggressive !)

Total commision in 12 months = US$12.80 (1.28% of invested capital ... good !)

Total swap in 12 months = -US$8.91 (0.9% of invested capital ... will turn this into +ve in the new year)

Net Gain In Equity (% | $) = 43% | $436

Cons:

Not yet hitting the 5.93% monthly compound rate consistently but thats ok because its only the first year ... easy trading during year 1.

I'll let the traders decide !

ps. I even posted the YTD results of major indices and FX indices (top 5% of traders) and the account is miles ahead and yet there are still doubters.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,012
  • Dec 14, 2018 7:31pm Dec 14, 2018 7:31pm
Post 1 has been updated.

QCS_MT4 zip folder.

The QCS_Murrey_Math1 indicator has added functionality that allows for fixing upper and lower range prices no matter the chart TF.

This is useful when applying 'shorter term' cycles using the D1 octive price lines.

For example, you may wish to setup a short term cycle between the 3/8 to 5/8 octives of the D1::64 chart.

Simply note the 2 prices for 3/8 and 5/8.

Set Manual_08_88_Prices = true; (false by default)

Input largest price into MML_88_price
Input lowest price into MML_08_price
Attached Image

This range will then become the 'new' grid and the indicator will simply split the range into 8 internal octives and 2 OB and 2 OS zones.

This allows for easier setting of pending orders at the MML lines (Octive Price Lines) for trading over a lower number of octives on a D1 TF.

Note that if Manual_08_88_Prices is set to true the levels will remain fixed over all TF's (M1 through to MN1).

Masterrmind...............
Master your Mind then Master your Trades
  • #3,013
  • Dec 15, 2018 1:26am Dec 15, 2018 1:26am
Quoting Masterrmind
Post 1 has been updated. QCS_MT4 zip folder. The QCS_Murrey_Math1 indicator has added functionality that allows for fixing upper and lower range prices no matter the chart TF. This is useful when applying 'shorter term' cycles using the D1 octive price lines. For example, you may wish to setup a short term cycle between the 3/8 to 5/8 octives of the D1::64 chart. Simply note the 2 prices for 3/8 and 5/8. Set Manual_08_88_Prices = true; (false by default) Input largest price into MML_88_price Input lowest price into MML_08_price {image} This range...
I will also add in a drop down menu for the MML levels (High octive and Low octive prices) into the QCS_Murrey_Math1 indicator.

This will make selecting a range of octives on shorter term setups much simpler and way faster.
Attached Image

The manual price inputs will remain so traders can also choose specific price levels if they so wish.

Note that the lowest band (-2/8 MML) will not be selectable for OCTIVE_HighLevel.
Note that the highest band (+2/8 MML) will not be selectable for OCTIVE_LowLevel.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,014
  • Dec 15, 2018 11:43am Dec 15, 2018 11:43am
Quoting Masterrmind
{quote} Yes and nicely put. Best part is I know it works and its 100% free. January here we come ! Masterrmind.............
Really enthusiastic about this and hope more people will join. Starting directly with 3 profitable demo months I also got a feeling that it works and I think that if I don't make it from the start on live account it's because of the switch and emotions, but it'll disappear in time.
Reading up on Masterrminds posts I think this is what makes his trading different: "My approach is geared differently, almost from an 'investor' type outlook over the longer term even though we are trading in a speculative market.". Based on my understanding this means we're focusing more on keeping account increasing steadily with the lowest risk possible, adjusted to our winning projections.
Really looking forward for January as well!
Forex - It's finger lickin' good
  • #3,015
  • Dec 15, 2018 2:03pm Dec 15, 2018 2:03pm
Hello MasterMind,
Thank you so VERY much for everything that You Do! I am really want to learn everything that you know and am putting my efforts into all that is presented here from you and other Great traders here!

Thanks again

Jeff...................
Happily Married to MY College Sweet Heart!
  • #3,016
  • Dec 15, 2018 3:58pm Dec 15, 2018 3:58pm
Quoting pipsandkfc
{quote} Really enthusiastic about this and hope more people will join. Starting directly with 3 profitable demo months I also got a feeling that it works and I think that if I don't make it from the start on live account it's because of the switch and emotions, but it'll disappear in time. Reading up on Masterrminds posts I think this is what makes his trading different: "My approach is geared differently, almost from an 'investor' type outlook over the longer term even though we are trading in a speculative market.". Based on...
That is correct in terms of the Quad Candle System methodology trading D1 setups over the longer term.

However, in my private trading I apply several different trading strategies at times all of which I know intimately.

All FX speculative funding is derived from some of the profits from longer term investments (Stock portfolio, Futures contracts, Options and more).

What I'm trying to do here is bring some of the investor type mentality into the FX speculative market for traders with a desire to learn.

This is why the terms risk control and risk management are posted with great frequency.
They are a critical part of the whole trading process and without them a trader will be left to the wolves.

The projected MoM (compounded) of 5.93% is there because it produces the ultimate goal (in this trading account) over a planned 10 years.
Its would be kind of cool to take 1000 to 1 000 000 !

A trader only needs to search online (in 'reputable' places) to find examples of real trading accounts showing monthly gains >= 5.93%.
It is not a difficult task to hit the target MoM on any given month however, to hit it every month consistently is the real challenge.

A given traders Equity curve will often progress upward only to later take a huge dive in a whipsaw type motion.
Often this is due to taking on too much risk in combination with a failure to close out losers sooner rather than later.
However, there is a condition that can occur which produces a series of losing trades, unrelated to the trading methodology.
Traders need to be very mindful of this and understand that risk control plays a major role in terms of the survival time of any trading account.

One of the biggest dangers trading in the market is a traders perception of what he/she believes will happen next.

A good example, is when price has moved against a position(s) on several previous occasions and might have turned around at DD levels of 20% then 30%, then 45%, then 20% so the trader assumes that price will again reverse and bring the account back to profit; only on the next occasion the market keeps pushing price further and further and further away until that little account can't handle the pressure ... and it vaporizes !

This is how most retail traders lose their accounts !

Traders need to be able to take losses and not get 'married' to a trade that ends up destroying their trading account.

It only takes 1 very bad decision and the account can be in serious trouble.

Plan the trade and trade the plan; manage the risk and manage the trades.

Good trading,

Masterrmind...............
Master your Mind then Master your Trades
  • #3,017
  • Dec 15, 2018 4:10pm Dec 15, 2018 4:10pm
Quoting Jeff59FX
Hello MasterMind, Thank you so VERY much for everything that You Do! I am really want to learn everything that you know and am putting my efforts into all that is presented here from you and other Great traders here! Thanks again Jeff...................
I'm not sure you can learn everything that I know as plenty of this has come from trading multiple portfolios over decades of trading.

What I will say though is that you will get some very useful information out of this thread including a real transparent trading account.

Happy to have you participating in the thread, afterall it is the participation that makes being here all the worthwhile for everyone.

Masterrmind..............
Master your Mind then Master your Trades
  • #3,018
  • Dec 16, 2018 10:08am Dec 16, 2018 10:08am
Quoting Masterrmind
{quote} That is correct in terms of the Quad Candle System methodology trading D1 setups over the longer term. However, in my private trading I apply several different trading strategies at times all of which I know intimately. All FX speculative funding is derived from some of the profits from longer term investments (Stock portfolio, Futures contracts, Options and more). What I'm trying to do here is bring some of the investor type mentality into the FX speculative market for traders with a desire to learn. This is why the terms risk control and...
We should be able to survive those drawdowns if we stick to the money management plan: a maximum loss per trade under 5% including situations when there are additional positions added plus a maximum accepted drawdown of 29% as set in the thread or lower by trader preferences. I thinks those larger drawdowns in one trade happen only if not respecting the: "Plan the trade and trade the plan; manage the risk and manage the trades."
I'm just saying this at a theoretical level as I haven't been faced with this situation on real money, but I think it must be avoided at all costs to try and prove the market its wrong and we're right. If it went against us to the stop loss we keep it there and that's it, look for another opportunity. The only way to move it would be if we could make it fit in the trade risk amount of the master plan. A trader I think must accept that he was wrong if it went first to the stop loss and not take profit. After all this is what we wanted to prove the market: it's going to reach TP before SL. If this didn't happen that's it, nothing else to prove and we must accept consequences of our actions/trades.
Forex - It's finger lickin' good
  • #3,019
  • Dec 16, 2018 10:10am Dec 16, 2018 10:10am
This is a secene from some cartoons I was watching as a child and I think it fits the steps of entering into a trade

Inserted Video
Forex - It's finger lickin' good
  • #3,020
  • Dec 17, 2018 5:25am Dec 17, 2018 5:25am
Quoting pipsandkfc
{quote} We should be able to survive those drawdowns if we stick to the money management plan: a maximum loss per trade under 5% including situations when there are additional positions added plus a maximum accepted drawdown of 29% as set in the thread or lower by trader preferences. I thinks those larger drawdowns in one trade happen only if not respecting the: "Plan the trade and trade the plan; manage the risk and manage the trades." I'm just saying this at a theoretical level as I haven't been faced with this situation on real money, but I think...
The plan is certainly necessary.

It can be a rather wild ride sometimes.

Ultimately to make it through to the goal its a combination of many things working in your favor.

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