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Quad Candle System

  • #3,061
  • Dec 30, 2018 1:08am Dec 30, 2018 1:08am
Quoting Masterrmind
{quote} A single post reply to your trend question really would not do it any justice. Trend depends much on the set criteria, the period of time under consideration and many other factors. In fact if you were to consider a D1 TF and 2 price levels and noted that price moved up in waves with pullbacks remaining above the lower price level you might assume that the trend is up. But is it ? You now consider a W1 TF for the same 2 price levels and all of a sudden you start thinking that the trend is now down. What you have to do is choose a TF say...

Awesome, thank you for the input on the questions. As for trends you are right, we're only dealing with one timeframe D1 and we're just looking for better confluence on the other timeframes.
A situation similar to the trendlines up and down that I've seen a few times with the MML was when for example on D1 we're in the good area for a buy -2/8 - 0/8 ex-MML but on the W1 we're in the other extreme ex-MML +2/8 - 0/8 area. I guess these situations ask us to be out until the market decides as there is too much risk to trade such a setup? Or should we still go in with a lower position? I know these are mostly discretionary actions but I'm trying to understand some basic guidelines for such aspects.
By aggression you refer only to higher % per trade and adding positions or taking positions that are not very confluent ( lower probability ) with lower amounts per trade? I don't wish you drawdowns for the account but I know they're inherent and a trading plan for this is also required. This is what makes the thread all inclusive, a solution for all the problems
It's settled, I will review the thread one more time to refresh the trading aspects.

You can sure count on me for asking as many questions as possible while on the journey.
Forex - It's finger lickin' good
  • #3,062
  • Dec 30, 2018 3:30am Dec 30, 2018 3:30am
Quoting pipsandkfc
{quote} Awesome, thank you for the input on the questions. As for trends you are right, we're only dealing with one timeframe D1 and we're just looking for better confluence on the other timeframes. A situation similar to the trendlines up and down that I've seen a few times with the MML was when for example on D1 we're in the good area for a buy -2/8 - 0/8 ex-MML but on the W1 we're in the other extreme ex-MML +2/8 - 0/8 area. I guess these situations ask us to be out until the market decides as there is too much risk to trade such a setup? Or...
Entering trades at lower risk when the setup is not as ideal as we would like is always an option but so too is sitting on the sidelines and waiting for higher confluence.

By aggression I am referring to higher trade frequency and greater number of cycles than shown in the previous account but within assigned risk limits.

In the early stages of building an accounts equity it is good practise to start off with relatively lower risk than per trading plan such that buffer profit can be used to offset some 'higher risk' or 'higher volume' setups.

You will notice that in Post 1 I have set max volume limit but the recommended range upper limit is half this amount and there is good reason for setting it lower.

Masterrmind.......
Master your Mind then Master your Trades
  • #3,063
  • Dec 30, 2018 10:53pm Dec 30, 2018 10:53pm
Good day Mastermind, I've been using the QCM system on my MT4 live account and just this morning as I opened my account it was no longer working. I tried to reload it on both demo and live accounts using another broker and I get the message that it has expired. Please will you be kind to post the updated version.
  • #3,064
  • Dec 31, 2018 11:59am Dec 31, 2018 11:59am
I have been working with your system Mastermind and I noticed today that I received an error saying that the QUADCANDLEDASHBOARD Has Expired as of 12/29/2018 and to please visit your forum. Is there something that I need to do in order to get it working again or should I wait for an update to your system? Thank you for your work and I look forward to hearing back from you.

Thanks!

Paul
  • #3,065
  • Dec 31, 2018 6:14pm Dec 31, 2018 6:14pm
Happy New Year to everyone cheers Thank you
Happily Married to MY College Sweet Heart!
  • #3,066
  • Jan 1, 2019 11:24am Jan 1, 2019 11:24am
How important is the win rate, it can make a whole world of difference into trading profitability...

My 2019 Forex Goal: End in profit and learn to get good risk:Reward ratios for all my trades.
Attached Image (click to enlarge)
Click to Enlarge Name: WinRate.png Size: 508 KB
Forex - It's finger lickin' good
  • #3,067
  • Jan 1, 2019 3:34pm Jan 1, 2019 3:34pm
Quoting PreshM
Good day Mastermind, I've been using the QCM system on my MT4 live account and just this morning as I opened my account it was no longer working. I tried to reload it on both demo and live accounts using another broker and I get the message that it has expired. Please will you be kind to post the updated version.
New versions are currently in progress.

So the older versions are likely to be phased out.

However, I may extend expiries based on some effort by traders to post some charts to this thread.

Plenty of downloads but very little participation.

An extended version will be uploaded around London Open later today.

Masterrmind.......
Master your Mind then Master your Trades
  • #3,068
  • Jan 1, 2019 3:37pm Jan 1, 2019 3:37pm
Quoting paulbartosze
I have been working with your system Mastermind and I noticed today that I received an error saying that the QUADCANDLEDASHBOARD Has Expired as of 12/29/2018 and to please visit your forum. Is there something that I need to do in order to get it working again or should I wait for an update to your system? Thank you for your work and I look forward to hearing back from you. Thanks! Paul
Newer versions are in progress but in the meantime I will extend expiries on the older version.

Uploaded version likely much later today or tomorrow.

Masterrmind......
Master your Mind then Master your Trades
  • #3,069
  • Jan 1, 2019 8:56pm Jan 1, 2019 8:56pm
Quoting Masterrmind
{quote} Newer versions are in progress but in the meantime I will extend expiries on the older version. Uploaded version likely much later today or tomorrow. Masterrmind......
Thank you very much!
  • #3,070
  • Jan 3, 2019 4:15am Jan 3, 2019 4:15am
The spike today made me wonder about a few things. Was the cause the lack of liquidity in the market or another reasons?
If it was the first reason what period would be best to avoid trading? From the thread I presume it's best to stop trading on 20th Dec and begin around 7 Jan ?
Are there any other periods to be avoided?
Forex - It's finger lickin' good
  • #3,071
  • Jan 3, 2019 4:24am Jan 3, 2019 4:24am
My account has been funded so I'm read to start the Journey. It's 899.2 EUR but I will apply the same principle of monthly funding, although with variable amounts.

This video suits for the journey:

Inserted Video




Either you forex per Masterrmind rules do, yes, or forex per Masterrmind rules do, no. You forex per Masterrmind rules do, guess so, squish just like grape.

2 Goals for the 1st Month:

1) End Positive
2) Achieve DL1

Will post trades analysis in the thread once I find any.
Forex - It's finger lickin' good
  • #3,072
  • Edited 6:56am Jan 3, 2019 6:40am | Edited 6:56am
Off we go then
Attached Image(s) (click to enlarge)
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  • #3,073
  • Jan 3, 2019 7:32am Jan 3, 2019 7:32am
Now made trade just a 25 pip Risk
Attached Image (click to enlarge)
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  • #3,074
  • Jan 3, 2019 7:43am Jan 3, 2019 7:43am
Locked in +25 now
Attached Image (click to enlarge)
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  • #3,075
  • Jan 3, 2019 7:56am Jan 3, 2019 7:56am
Locked in +50 pips = 1 x 1 initial risk
Attached Image (click to enlarge)
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  • #3,076
  • Jan 3, 2019 7:59am Jan 3, 2019 7:59am
Quoting OAPDave
Off we go then {image} {image} {image}
Such a fast start, congratulations!
Forex - It's finger lickin' good
  • #3,077
  • Jan 3, 2019 10:12am Jan 3, 2019 10:12am
Solid start with a 2:1 Risk Reward Trade Banked + 100 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 77 KB
Click to Enlarge Name: USDCADH1a.png Size: 75 KB
  • #3,078
  • Jan 3, 2019 10:43am Jan 3, 2019 10:43am
Quoting Masterrmind
{quote} New versions are currently in progress. So the older versions are likely to be phased out. However, I may extend expiries based on some effort by traders to post some charts to this thread. Plenty of downloads but very little participation. An extended version will be uploaded around London Open later today. Masterrmind.......
Hello Mastermind an updated version of your system would be appreciated. I've been stumbling for a while now and when I came across this system two weeks ago I was very excited and tried it for a week and wanted to give this a big shot this year. It is everything I need right now and your assistant will be appreciated.
  • #3,079
  • Jan 3, 2019 3:38pm Jan 3, 2019 3:38pm
Quoting PreshM
{quote} Hello Mastermind an updated version of your system would be appreciated. I've been stumbling for a while now and when I came across this system two weeks ago I was very excited and tried it for a week and wanted to give this a big shot this year. It is everything I need right now and your assistant will be appreciated.
Updated expiries have already been provided in Post 1.

Traders need to check upload date for newer versions.

Masterrmind.......
Master your Mind then Master your Trades
  • #3,080
  • Jan 4, 2019 5:54pm Jan 4, 2019 5:54pm
Quoting pipsandkfc
My account has been funded so I'm read to start the Journey. It's 899.2 EUR but I will apply the same principle of monthly funding, although with variable amounts. This video suits for the journey: https://www.youtube.com/watch?v=Y3lQSxNdr3c Either you forex per Masterrmind rules do, yes, or forex per Masterrmind rules do, no. You forex per Masterrmind rules do, guess so, squish just like grape. 2 Goals for the 1st Month: 1) End Positive 2) Achieve DL1 Will post trades analysis in the thread once I find any.
This is a great start !

It is the principle of adding monthly deposits that is key here and not necessarily the amounts.

If at a later stage the desire is there to increase monthly deposit amount then you simply do so and if at some stage you do not want to add extra funds on a given month or a string of months then it is ofcourse completely your own choice.

Adding consistent monthly deposits is a very powerful process because at the time of deposit it assists in 'soaking' up some of the floating DD and may offer the opportunity to open another cycle of trades.

Nevertheless, the trader will need to control the urge to over-trade and to be mindful that although the monthly compound rate is set the amount of funds required per month will also increase such that target levels are being met.

It is a fine balancing point between meeting goals and feeling like you are forced to meet those goals by over-trading or trading too aggressively.

If a trader feels the pressure then they either have to learn how to manage it or simply drop to a lower DL.
There is no shame in dropping to lower DLs.

Remember to keep a close watch on the current and the target MoM gain.

The account might be tracking on schedule and if so then there is no neccessity to open additional cycles of trades.

As the monthly deposit (start of month) is made to the account the trader must be mindful of having to compound the total monthly start Equity.

Meaning that the trader will need to adjust lot size sequence and this is why I provided an example of a lot sequence over 5 trades over varying equity levels so traders can design their own lot sequence plans.

Note that lot sequences do not need to be evenly spaced incremental volumes, in fact I would prfer to see traders applying the first 2 entries at much lower volumes such as the following:

Post 1 guideline
If Equity >= 1000 then Max Lot Size = 0.10 lots --> recommended [0.01 to 0.05]

1K Equity (Max Lot Size = 0.10)
Trade 1 @ 0.01
Trade 2 @ 0.02
Trade 3 @ 0.03
Trade 4 @ 0.04
Trade 5 @ 0.05
Tot. Volume = (0.01 + 0.02 + 0.03 + 0.04 + 0.05) = 0.15 (1.5* Max Lot Size).


Example with lower initial lot sizes
If Equity >= 1000 then Max Lot Size = 0.10 lots --> recommended [0.01 to 0.05]

1K Equity (Max Lot Size = 0.10)
Trade 1 @ 0.01
Trade 2 @ 0.01
Trade 3 @ 0.02
Trade 4 @ 0.03
Trade 5 @ 0.05
Tot. Volume = (0.01 + 0.01 + 0.02 + 0.03 + 0.05) = 0.12 (1.2* Max Lot Size).

If any traders are stuck on figuring this out please drop some information to this thread and I'll produce an example for you.

Ultimately what traders need is a design using Excel.

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