Quad Candle System

Think the breakout of the (Pipe) might give us a clue ?

Thats certainly one way to play the move.

But risk of reversal just above the upper pipe zone also needs to be factored in.

A view of the risk is all that is needed and then allocate risk capital.

Price could simply range between +/- 2c of current Bid but even so thats plenty of room for the smart trader to make some good coin.

Masterrmind.......

Yes I would now like to see a pullback but not too deep then it could signal a push up to the next level, or it could be showing a double top which was made around 23rd April @ 1.3013 ish

hiya
i've been looking, but cant find Quad Candle System indicator file ! can someone drop the file please ? many thanks

MT5_DL5 Account

Update:

No trades were taken in the month of April.

Regular Monthly Deposit of US$1000 has now been funded to the account.


Current Equity = US$5119.63 (deposits = $5K, profit = $119.44 and rebates = $0.19).
Since a gain >= 10% Equity was not achieved in April then the account status will now drop to DL3 (previously DL4).


DL3 Status and what it means in trading this account

In short a DL3 account is traded identically to DL4 conditions except that Assigned Risk per Account (ARPA) is further reduced by a factor of 2.

DL3


If Equity >= 5000 then Max Lot Size = 0.50 lots --> recommended [0.05 to 0.25]

5K Equity (Max Lot Size = 0.50)
Trade 1 @ 0.05
Trade 2 @ 0.10
Trade 3 @ 0.15
Trade 4 @ 0.20
Trade 5 @ 0.25
Tot. Volume = (0.05 + 0.10 + 0.15 + 0.20 + 0.25) = 0.75 (1.5* Max Lot Size)."

The bare bones for May trading are as follows:

1. Assigned Risk Per Trade ARPT (Max.): 5% (unchanged);

2. Assigned Risk per Account (ARPA) = 3.75% (reduced by half and then half again; 15% | 7.5% | 3.75%);

3. Drawdown (Max DD): 30% (unchanged);

4. Peak To Trough (Equity Max.): 30% (unchanged); and

5. Tot. Volume = (0.05 + 0.10 + 0.15 + 0.20 + 0.25) = 0.75 (unchanged)

The Math

Equity = $5119.63

ARPA = 3.75%*$5119.63 <= $191.99

Target (10%) >= $511.96 (Equity at end of May >= $5631.59)

This means that the sum of all SLs of open positions (not including positions with SL @ BE+pips) on the account cannot exceed $191.99.

So its fairly simple when trading a penalty month, basically ARPA is halved however, the placement of stops and what they represent in terms of proportional account risk must be monitored so that a breach in ARPA does not occur!

If conditions are 'right' I will be rather active this month trading a combination of QCS methodology on the D1 TF, Gann analysis on other TFs and harmonics on other TFs so that target levels can be met and all within the currently assigned risk criteria of <= 3.75%.

Trade setups will be shown before the fact for all to see.

Short term goal is to hit 10% or better this month and leave the penalty box forever !

On a side note:

I am currently awaiting feedback from myfxbook regarding verifying the current MT5 account with Pepper-stone as their trading servor is NOT yet listed.

If this issue is fixed and the account becomes 'verified' then I will happily provide the link to the myfxbook trading record.

In the meantime all results are visible through Post 1 using the FXBlue link provided.

As far as I know a TE cannot yet be provided here on FF for the MT5 platform !
If a TE were available I would also provide a direct link to it as well.

Good trading,

Masterrmind............

Dream Levels (DL)

Compounding Monthly Projections to create the Dream Level (DL):
DL1. Compounding a 1K account (with regular deposits of 1000, Tot Inv Cap. = $120K) at 2.84% MoM ==> 1K to 1 Million in ~10 years.
DL2. Compounding a 1K account (with regular deposits of 1000, Tot Inv Cap. = $116K) at 3.00% MoM ==> 1K to 1 Million in ~9 years 8 months.
DL3. Compounding a 1K account (with regular deposits of 1000, Tot Inv Cap. = $94K) at 4.00% MoM ==> 1K to 1 Million in ~7 years 10 months.
DL4. Compounding a 1K account (with regular deposits of 1000, Tot Inv Cap. = $80K) at 5.00% MoM ==> 1K to 1 Million in ~6 years 8 months.
DL5. Compounding a 1K account (with regular deposits of 1000, Tot Inv Cap. = $48K) at 10.00% MoM ==> 1K to 1 Million in ~4 years.

DL3 status implies that on average it will take 3 years and 10 months longer to hit the 1M goal assuming a 4% MoM return on Equity.

So dropping 'DL' levels is not so bad it only means trading will likely be much longer to achieve the same initial goal as that shown in DL5.

Time allows the trader the luxury of finding out what is working and what may not be working so that a 4 year time line can still be achieved.
Nevertheless, it is far more important to sort out these issues earlier than later since time eventually may run out.

Masterrmind.............

Post 1 has added information which shows a means of accessing the trading tools.

Masterrmind............

Outlook and Opportunities for next Week

Monday May 6

Tuesday May 7

Wednesday May 8

Thursday May 9

Friday May 10

Masterrmind............

Quad Dashboard

Masterrmind.............

Quad Dashboard Outlook for Monday May 6.

Masterrmind.............

Quad Signals Identified:

Octive Signals Identified:

No QO Signals today based on the FX pairs applied.

Masterrmind............

EURNZD [D1:: Quad Short]

NZDCAD [D1:: Quad Long]

Masterrmind..........

On my Radar ....

Initial risk is a breakout above recent highs for a 'modest' loss !

Modest means different things to different folk.

As you all know my 1st entry is at the lower end of risk of any trade in a given setup.

ps. The top right panel shows multiple trade setups for those too lazy or too busy to calculate each setup.

pps. Either Octive or Gann prices can be applied.

Masterrmind............

Some early data...

Question is what will EUR Retail Sales m/m deliver later today and would getting into a setup now risk some additional and perhaps unecessary DD ?

Masterrmind.............

Now short EN

Under favorable conditions I may add in up to 2 more additional entries into the current setup.

There are currently 2 levels of risk in play:

1. Entry 1 about 1.28% of Equity;
2. If price tags Entry 2 level and immediately races up the chart to the stops the risk across both trades is at the ARPA level ie ~3.75%.

ps. I must not engage in current open risk greater than 3.75%.

Masterrmind.............

Post 1 updated to include access to the MT5_DL5 trading history.

The account is now verified for track record and trading privileges.

Lets trade !

Masterrmind.............

Hello Masterrmind
I Love your new Chart! Thank you for sharing the ScreenShot!

Cheers!
Jeff

EN

Entry #1 resulted in a loss after a strong spike to the upside.

At least risk applied was very modest.

Some setup adjustments may take place including a re-entry into the short side.

Masterrmind..............

There is plenty more going on in the background but it all takes time.

I have responsibilities as a full-time trader with many commitments so prioritizing tasks becomes important.

What you see now is just the beginning !

Masterrmind.............

EN

Now short again.

Same volume as initial entry.

Masterrmind.............