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Mastering the Fakeout / Stop Hunt Candle
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- #283
- Mar 2, 2019 12:15pm Mar 2, 2019 12:15pm
{quote} eeeish... had you noticed the formation early and taken it, you’d have hit your tp early. all the same you’re still good. FxC changing people’s lives. Mine is changed already. ATB.
BTW that was the second entry, had already banked 60 odd pips!!
From tiny pips mighty oaks grow
- #284
- Mar 2, 2019 12:17pm Mar 2, 2019 12:17pm
- | Membership Revoked | Joined Nov 2014 | 1,911 Posts
Hi guys, here an MT4 indicator to identify the fake out candles with timeframe of M1 to H4 and hope that it helps. The indicator inputs is self explanatory, example: PreviousCandleBodyPIPSH1 = 0.0005; //previous candle body length >=PIPS, H1 is the timeframe CurrentCandleWickPIPSH1 = 0.0002; //current candle wick length >=PIPS, , H1 is the timeframe CurrentCandleBodyPIPSH1 = 0.0005; // current candle body length >=PIPS, , H1 is the timeframe Feedbacks to make it better or right are welcome! Good luck! {file}
Thx
P.S
File must be in MQ4, or I wont touch it. I have to be sure the underlining code is not malicious.
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- #286
- Mar 2, 2019 12:22pm Mar 2, 2019 12:22pm
- | Membership Revoked | Joined Nov 2014 | 1,911 Posts
{quote} hello , first you started shorting EURAUD, each time seen on the mangenta vertical line. then the downswing didnt revisite your TP (red line) from trader to trader i am interested in how did you manage these losses on paper? did you cut them during the day? did you hedge them? or do you still holding the five short positions? its nothing to offend you, i am just curious how you manage these losses to learn from it.{image}
And why are you highlighting candles with the purple vertical lines? those are not setups!
Kindly understand what my setups entail, rather than making these assumptions.
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{quote} Kindly work with me in private on this please, and not post versions here - I don't want people's time wasted trying something that has not been tested. Plus I can give you pointers that I have gained over the last 3 decades working with programmers, who seem to be more analytical for their own good, when most of the time there is a much simpler approach without all the extra technical stuff.
- #291
- Mar 2, 2019 12:56pm Mar 2, 2019 12:56pm
- | Membership Revoked | Joined Nov 2014 | 1,911 Posts
{quote} after nearly 30 years of trading i am always skeptical when someone says "he never made any loss" to quote you. it was a simple question without any ulterior motives. just out of curiosity how other traders deal with loses. "dancingphil" e.g. hedged his positions. "lemercenaire" also has its own method to deal with paper losses. also "ghostbiker" has its own way to deal with temporary losses. none of the mentioned traders refused a discussion or was somehow offended. a pity, because it's obvious that the 5 positions currently have not reached...
Again, since you don't know how this method works, you can keep your opinions to yourself, because you are wrong in your assumptions.
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- #292
- Mar 2, 2019 12:59pm Mar 2, 2019 12:59pm
- | Membership Revoked | Joined Nov 2014 | 1,911 Posts
And here's what you've all been waiting for, as promised 
https://www.forexfactory.com/showthread.php?t=890687
https://www.forexfactory.com/showthread.php?t=890687
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- #293
- Mar 2, 2019 9:48pm Mar 2, 2019 9:48pm
- | Membership Revoked | Joined Nov 2014 | 1,911 Posts
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
- #296
- Edited 6:36am Mar 3, 2019 6:20am | Edited 6:36am
[quote=kasrafx;12069917]{quote}what's your rule to enter the trade? only candle shapes?
Hi kasrafx,
No definitely not trading blindly, Counter trend trades at S/R and over extended moves
Without going through all the trades i'll use this GBPUSD as an example.
Having said that not all trades where ideal, I was looking at the bottom of the range/previous low. This one was very risky IMO and I got nailed on the spread which I didn't check before entry.
Hi kasrafx,
No definitely not trading blindly, Counter trend trades at S/R and over extended moves
Without going through all the trades i'll use this GBPUSD as an example.
Having said that not all trades where ideal, I was looking at the bottom of the range/previous low. This one was very risky IMO and I got nailed on the spread which I didn't check before entry.
- #297
- Mar 3, 2019 6:41am Mar 3, 2019 6:41am
- | Membership Revoked | Joined Nov 2014 | 1,911 Posts
Thank you FXCyborg for this 2nd method as it design for longer terms. This suits me great. Keep going, learning so much from your experianceHighest Regards!
you're welcome and thanks
GL next week
ATB
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- #299
- Mar 3, 2019 2:35pm Mar 3, 2019 2:35pm
- | Membership Revoked | Joined Nov 2014 | 1,911 Posts
This system has added more confirmation to my strategy. Really grateful sir
GL this week
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
[quote=Moof;12070031]
kasrafx ... Can you share the indicator that shows the entries and exits of each operation?
{quote}what's your rule to enter the trade? only candle shapes? Hi kasrafx, No definitely not trading blindly, Counter trend trades at S/R and over extended moves Without going through all the trades i'll use this GBPUSD as an example. {image} Having said that not all trades where ideal, I was looking at the bottom of the range/previous low. This one was very risky IMO and I got nailed on the spread which I didn't check before entry.