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Quad Candle System

  • #3,021
  • Dec 17, 2018 7:27am Dec 17, 2018 7:27am
Quoting pipsandkfc
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 https://youtu.be/TFGlBgINvME
Thanks for the post.

Very entertaining and certainly put together in a fun way.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,022
  • Dec 17, 2018 8:58am Dec 17, 2018 8:58am
Some ideas ?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 89 KB

USDCAD [D1::64]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 66 KB

hmmm ??

Masterrmind..............
Master your Mind then Master your Trades
  • #3,023
  • Dec 17, 2018 9:38am Dec 17, 2018 9:38am
Quoting Masterrmind
Some ideas ? {image} USDCAD [D1::64] {image} hmmm ?? Masterrmind..............
Hi MasterrMind...
Are you going to have the white version to your Dash- also on the Info Panel are you going to have it where you can adjust the placement on the Chart?
Your Dashboard is Top Notch!

Thank you for your efforts

Jeff..................
Happily Married to MY College Sweet Heart!
  • #3,024
  • Dec 17, 2018 9:53am Dec 17, 2018 9:53am
Quoting Masterrmind
{quote} 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..............
Hi MasterrMind
I know that The Forex is rather difficult to understand and that it takes a LONG time to master! I have seen all the dedication and devotion you have in this thread and to know now that you have been doing trading for many many years is Incredible The wealth of information here is a Greatest value to my understanding............ and yes you are right that I can learn everything that you know and there is lots to learn!

Thank you for everything you do !

Jeff............
Happily Married to MY College Sweet Heart!
  • #3,025
  • Dec 17, 2018 12:18pm Dec 17, 2018 12:18pm
Quoting Masterrmind
{quote} 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..............
This is a great journey mate! 7/10 years aint much!

Did you do any back-test about the Quad candle system? What do the stats suggest?
I mean , if you know the edge of your strategy , you will do much better in the long run. Hope you agree with me.
  • #3,026
  • Edited 1:02pm Dec 17, 2018 12:36pm | Edited 1:02pm
Quoting Masterrmind
Some ideas ? {image} USDCAD [D1::64] {image} hmmm ?? Masterrmind..............
Thank you for the input.
We have the quad formed but it's not in an extreme MML?
We are in an uptrend and the AB=CD pattern shows finishing right in the upper channel trendline?
A resistance would be around the ~ 1.5504 area ( didn't draw it on charts so not overcrowd it ).
Also on Dec 19, 2018 we have red marked news for both USD and CAD?

I mean we have upside room but isn't it risky? ( newbie opinion )
Also, should we consider this a short term cycle trade?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart_USD_CAD_Daily_snapshot.png Size: 28 KB
Click to Enlarge Name: Chart_USD_CAD_Weekly_snapshot.png Size: 21 KB
Forex - It's finger lickin' good
  • #3,027
  • Dec 17, 2018 1:08pm Dec 17, 2018 1:08pm
Quoting pipsandkfc
{quote} Thank you for the input. We have the quad formed but it's not in an extreme MML? We are in an uptrend and the AB=CD pattern shows finishing right in the upper channel trendline? A resistance would be around the ~ 1.5504 area ( didn't draw it on charts so not overcrowd it ). Also on Dec 19, 2018 we have red marked news for both USD and CAD? I mean we have upside room but isn't it risky? ( newbie opinion ) Also, should we consider this a short term cycle trade? {image} {image}

more importantly, its a bearish compression, big drop imminent, with lots of fractal disparity over the next few days
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #3,028
  • Dec 17, 2018 1:17pm Dec 17, 2018 1:17pm
Quoting FXCyborg
{quote} more importantly, its a bearish compression, big drop imminent, with lots of fractal disparity over the next few days
Thank you for the input. I never heard of the expression "bearish compression". Is it the triangle formed by the up trendline and resistance, or it's something different? I've looked online but I haven't found an exact definition https://www.dynotrading.com/compression-triangles/
Forex - It's finger lickin' good
  • #3,029
  • Dec 17, 2018 2:33pm Dec 17, 2018 2:33pm
Quoting pipsandkfc
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 https://youtu.be/TFGlBgINvME
Hi pipsandkfc,
I Love that cartoon and the information about the trade setup...

Thank you for sharing!

Jeff....
Happily Married to MY College Sweet Heart!
  • #3,030
  • Dec 17, 2018 2:40pm Dec 17, 2018 2:40pm
Quoting pipsandkfc
{quote} Thank you for the input. I never heard of the expression "bearish compression". Is it the triangle formed by the up trendline and resistance, or it's something different? I've looked online but I haven't found an exact definition https://www.dynotrading.com/compression-triangles/
because you're in the frame of mind of a Retail trader..


Think institutional, Trading floor mindset (you'll need to study how price moves and why it moves to the areas it does), then you will never touch another lame indicator again. I haven't in 25+ years.
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #3,031
  • Dec 17, 2018 2:56pm Dec 17, 2018 2:56pm
Quoting pipsandkfc
{quote} Thank you for the input. I never heard of the expression "bearish compression". Is it the triangle formed by the up trendline and resistance, or it's something different? I've looked online but I haven't found an exact definition https://www.dynotrading.com/compression-triangles/
Here, an over explained chart with confluence levels
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 149 KB
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #3,032
  • Dec 17, 2018 3:22pm Dec 17, 2018 3:22pm
Zoomed out view, to find confluences and other setups -- Look Mum,no indicators
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Click to Enlarge Name: Screenshot1.png Size: 141 KB
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #3,033
  • Dec 17, 2018 3:25pm Dec 17, 2018 3:25pm
Oops, some of the left side was chopped off
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Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #3,034
  • Dec 17, 2018 6:13pm Dec 17, 2018 6:13pm
Quoting Jeff59FX
{quote} Hi MasterrMind... Are you going to have the white version to your Dash- also on the Info Panel are you going to have it where you can adjust the placement on the Chart? Your Dashboard is Top Notch! Thank you for your efforts Jeff..................
Yes there will certainly be a white version.

The dashboard already has options to move it anywhere you wish in the chart.

Masterrmind...............
Master your Mind then Master your Trades
  • #3,035
  • Dec 17, 2018 6:17pm Dec 17, 2018 6:17pm
Quoting Jeff59FX
{quote} Hi MasterrMind I know that The Forex is rather difficult to understand and that it takes a LONG time to master! I have seen all the dedication and devotion you have in this thread and to know now that you have been doing trading for many many years is Incredible The wealth of information here is a Greatest value to my understanding............ and yes you are right that I can learn everything that you know and there is lots to learn! Thank you for everything you do ! Jeff............
Plenty to learn, no doubt about that and the learning never stops.

Post 1 will continue to be populated with additional information so be sure to check back there often.

Masterrmind..............
Master your Mind then Master your Trades
  • #3,036
  • Dec 17, 2018 7:49pm Dec 17, 2018 7:49pm
Quoting tm9
{quote} This is a great journey mate! 7/10 years aint much! Did you do any back-test about the Quad candle system? What do the stats suggest? I mean , if you know the edge of your strategy , you will do much better in the long run. Hope you agree with me.
You are right the 7/10 year trading plan is not as long as many traders might think and before you know it the years have already passed.

I tested different aspects of the QCS methodology and came to the conclusion that the system is highly robust.

To test all areas of the system requires a comprehensive understanding of the 'complexity' of the system.

By complexity I am not implying that the system is difficult to understand or to trade, all I'm suggesting here is that the system considers and analyzes multiple inputs ranging from technical through to fundamental.

The multiple inputs are analyzed using a combination of trading tools (informative) and trader input (some of a discretionary nature).

Does the QCS Method have an edge ? ... < YES > ...
Does the trader have an edge ? ... < depends on the trader > ...
Attached Image

To effectively extract the most out of a trading system both the system and the trader require an edge.

A pure fully automated trading system with an edge is the exception to the rule.

Basic crucial elements of why the QCS has an edge:

1. Process of identifying trading opportunities in the market ... Yes;

2. The account is producing positive outcome over the longer term ... Yes (but only 12 months at this stage);

3. Winning trades are offsetting the losing trades ... Yes;

4. Applies a highly robust risk and trade management approach considering when to trade and when not to trade ... Yes;

5. Considers what-if scenarios of possible trade outcomes and how best to minimize negative impact ... Yes;

6. Ability to manage all positions including the addition of entries (when, where, what size and how many) ... Yes;

7. Positive expectancy shown from numerous historical runs (limited to only a few paramters though) ... Yes;

8. Is profit being generated month on month (on average and repeatable) resulting in positive gains ... Yes;

9. Is the "edge" being nurtured and maintained such that risk is minimized and profit flows and the system remains robust ... Yes;

10. Trader discretion is also applied resulting in some subjective trading decisions which means traders results are likely to vary ... Yes.

Masterrmind..............
Master your Mind then Master your Trades
  • #3,037
  • Dec 17, 2018 8:02pm Dec 17, 2018 8:02pm
Quoting pipsandkfc
{quote} Thank you for the input. We have the quad formed but it's not in an extreme MML? We are in an uptrend and the AB=CD pattern shows finishing right in the upper channel trendline? A resistance would be around the ~ 1.5504 area ( didn't draw it on charts so not overcrowd it ). Also on Dec 19, 2018 we have red marked news for both USD and CAD? I mean we have upside room but isn't it risky? ( newbie opinion ) Also, should we consider this a short term cycle trade? {image} {image}
I was actually looking to trade up to the 8/8 level away from the central pivot 4/8.

The emoticon was intending to show a concern about this trade especially since chart structure has not hit this upper level since May 2017.

Then you need to ponder the reasons why price hit that level back in 2017 and how likely is it under current conditions to hit the level at this time of the year and from such a distance away (tech+fund).
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 46 KB

Perhaps not likely to get the driving volume up to these highs due in part to markets winding down towards the end of the year and any oil impact.

I would stay out of it but any pair can be traded under the 'right' conditions including the limiting of risk.

I see you are viewing it as potentially 'risky' and perhaps rightfully so.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,038
  • Dec 17, 2018 8:19pm Dec 17, 2018 8:19pm
Quoting FXCyborg
Zoomed out view, to find confluences and other setups -- Look Mum,no indicators {image}
Yes the newby types and some longer term traders can be addicted and become indicator junkies !

In fact I frown upon the use of indicators especially the dreadful lagging stuff like MA, Stoch, MACD, TDI and more.

The sooner they rid their charts of that junk, the sooner they will see the light.

As for informative (and relevant) indicators and dashboards they have their uses but in the end a trader should never use any more indicators (informative) than the bare minimum.

Analyzing a chart without any indicators at all and using simple drawing tools is about all you need for the technical side.

Some traders do quite well only using the technical side but in this thread I push towards an understanding of both the technicals and the fundamentals and the building up of a highly confluent case for entry.

You may never really get to tick off all of the boxes producing a perceived 'perfect' setup but you try to get the setup as good as you possibly can.

Nice charts !

Masterrmind.............
Master your Mind then Master your Trades
  • #3,039
  • Dec 18, 2018 2:37am Dec 18, 2018 2:37am
Hi,

may I ask which leverage you usually trade with ? I'm sorry if it's already answered in the course of this thread, I will read every page closely in my christmas vacations So far I have only skipped through it all but I can already say is thank you for your efforts in providing all your knowledge and material. Highly appreciated !
  • #3,040
  • Dec 18, 2018 9:18am Dec 18, 2018 9:18am
Quoting Meerrettich
Hi, may I ask which leverage you usually trade with ? I'm sorry if it's already answered in the course of this thread, I will read every page closely in my christmas vacations So far I have only skipped through it all but I can already say is thank you for your efforts in providing all your knowledge and material. Highly appreciated !
Leverage available on MT5 account is 500:1.

However, leverage on a typical position is very low typically trading 0.01 lots, 0.02 lots or 0.03 lots with 3 open trades running at the same time.

Although currently I have 3 longs running, 1 CADJPY @ 0.01, 1 CADJPY @ 0.03 and 1 USDJPY @ 0.03 lots.

Reading Post 1 and throughout the rest of the thread will provide you with some very valuable information.

Welcome to the QCS methodology.

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