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Quad Candle System

  • #3,541
  • May 8, 2019 6:39pm May 8, 2019 6:39pm
Quoting Masterrmind
{quote} 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.............
I Know Trading takes allot of time...I believe in what WD Gann wrote about in His books. I am still studying his works and I keep on the demo for the time being :-)

Jeff
Happily Married to MY College Sweet Heart!
  • #3,542
  • May 8, 2019 6:51pm May 8, 2019 6:51pm
Recap on some DL3 restrictions

Equity >5000

1. Max volume for a given trade = 0.5 lots;

2. Max volume over several trades in a setup = 0.75 lots;

3. Max current risk across the account <=3.75%.

If trades are locked in at BE+pips then the associated risk can be dispersed into other entries.

The plan is to be as active as possible but remain within these DL3 restrictions.

This means that for the current entry (just placed) it represents a risk of ~1.3%.

So I have, if I wish, an extra 2.45% risk that can be applied provided no other pending orders trigger.

Risk management is a key part of being in a position to reach your goals !

Masterrmind............
Master your Mind then Master your Trades
  • #3,543
  • May 8, 2019 6:57pm May 8, 2019 6:57pm
Quoting Jeff59FX
{quote} I Know Trading takes allot of time...I believe in what WD Gann wrote about in His books. I am still studying his works and I keep on the demo for the time being :-) Jeff
Trading sure does take time.

Please stay on demo for as long as you feel you need too.

Let my account take all the heat from the good and bad trades and how the Equity curve evolves over the longer term horizon.

I am very confident in my trading methodologies.

Why else would I offer full transparency to traders.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,544
  • May 8, 2019 7:00pm May 8, 2019 7:00pm
It is certainly possible that with the current additional risk on hand (~2.4%) I may very well trade intraday Gann and Harmonics on a smaller TF.

This is in the interests of showing a comprehensive approach such that as longer term setups play out in the background, the trader can employ shorter term strategies to improve the MoM gain.

At least thats the plan.

Masterrmind............
Master your Mind then Master your Trades
  • #3,545
  • May 8, 2019 7:02pm May 8, 2019 7:02pm
I have placed a Trade on the USDCAD on the Upside after the event of a New Moon...let's see where this Takes us...Close approaching to the 5/8 MML and beyond!

Jeff....Cheers
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Happily Married to MY College Sweet Heart!
  • #3,546
  • May 8, 2019 7:27pm May 8, 2019 7:27pm
Harmonics in Trading
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Any TF can be used but the smaller the TF (provided the market is active) the faster the turnaround in results.

M1
M5 or
M15 tend to be good for intraday type trading in the harmonic realm.

Use Fibonacci as a simple guide to form an opinion of where price might pullback from or extend too.

Pullback ratios are : 38.2, 50, 61.8, 78.6 and 88.6.

Extentions are 127.2 and 161.8.

Try to use the ratios as zones such as 50.0 to 61.8 and 78.6 to 88.6 instead of an exact level.

Masterrmind..............
Master your Mind then Master your Trades
  • #3,547
  • May 8, 2019 7:39pm May 8, 2019 7:39pm
Quoting Masterrmind
Harmonics in Trading {image} Any TF can be used but the smaller the TF (provided the market is active) the faster the turnaround in results. M1 M5 or M15 tend to be good for intraday type trading in the harmonic realm. Use Fibonacci as a simple guide to form an opinion of where price might pullback from or extend too. Pullback ratios are : 38.2, 50, 61.8, 78.6 and 88.6. Extentions are 127.2 and 161.8. Try to use the ratios as zones such as 50.0 to 61.8 and 78.6 to 88.6 instead of an exact level. Masterrmind..............
Fibonacci Expansion
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There is nothing difficult about understanding these tools.

However, the difficult part (as always) is in achieving a very high strike rate.

Since we know in advance that we probably wont hit 100% strike rate then we need to resort to using good trade management skills.

Traders can become highly successful by simply applying the ABCD pattern, Fibs and some good old S&R in their trading.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,548
  • May 8, 2019 7:43pm May 8, 2019 7:43pm
Here are the planet lines with aspects on a 1 Hour Quad ...We see an average of a 8 Planet Resistance Line @ 1.34910

Cheers! Jeff
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Happily Married to MY College Sweet Heart!
  • #3,549
  • May 8, 2019 7:44pm May 8, 2019 7:44pm
Shorter term setups and Risk

Based on my current Equity and considering the full SL of the short entry on EN [D1] I know I have about 2.4% risk that I can trade with on other setups.

2.4% of Equity equated to about US$121.

So to play it safe I'll reduce that further to lets say $100 as my stop on any given trade for the short term setups.

Based on an average of $10/pip get an idea as to how many pips your SL can be at a given volume.

Max volume = 0.50-0.05 (current open trade LT) = 0.45 lots.

Simplify it !

0.1 lots would allow about 100 pip SL
0.4 lots about 25 pip SL (is this enough room to breathe in the trade ?)

Examples later today !

Masterrmind.............
Master your Mind then Master your Trades
  • #3,550
  • May 8, 2019 7:46pm May 8, 2019 7:46pm
Quoting Jeff59FX
Here are the planet lines with aspects on a 1 Hour Quad ...We see an average of a 8 Planet Resistance Line @ 1.34910 Cheers! Jeff {image}
Very nice posts.

Lets see how the trade goes.

Masterrmind............
Master your Mind then Master your Trades
  • #3,551
  • May 8, 2019 7:48pm May 8, 2019 7:48pm
Here we have the Astro Clock of the heavens..Mostly Cardinal...Moon is exulted in it's Own sign of Cancer

Jeff
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Happily Married to MY College Sweet Heart!
  • #3,552
  • May 8, 2019 7:54pm May 8, 2019 7:54pm
Quoting Masterrmind
{quote} Very nice posts. Lets see how the trade goes. Masterrmind............
Thank you Masterrmind ...Exploring the discovery as far in the trading in the style of W.D. Gann is Grand! There is so much to discover!

Jeff.....
Happily Married to MY College Sweet Heart!
  • #3,553
  • May 9, 2019 5:49am May 9, 2019 5:49am
Quoting Jeff59FX
{quote} Thank you Masterrmind ...Exploring the discovery as far in the trading in the style of W.D. Gann is Grand! There is so much to discover! Jeff.....
Yes there are many interesting aspects for sure.

Time got the best of me today but either later Friday or from Monday I will show several live trading examples on different TFs using harmonics.

Until then, trade well.

Masterrmind.......
Master your Mind then Master your Trades
  • #3,554
  • May 9, 2019 12:33pm May 9, 2019 12:33pm
Attempting..to configure a "Time Periods " for when the Markets are active or not...we see many ways the Markets turn up and down! This is on a 15 minute chart for easy viewing!

Cheers,
Jeff
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Happily Married to MY College Sweet Heart!
  • #3,555
  • May 10, 2019 2:47am May 10, 2019 2:47am
Quoting Jeff59FX
Attempting..to configure a "Time Periods " for when the Markets are active or not...we see many ways the Markets turn up and down! This is on a 15 minute chart for easy viewing! Cheers, Jeff {image}
Observation of historical patterns that repeat is very powerful knowledge.

What happened before will happen again !

Masterrmind............
Master your Mind then Master your Trades
  • #3,556
  • May 10, 2019 2:52am May 10, 2019 2:52am
Harmonics Trading

EURUSD [M5]
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No need for a template just use any colored bars or candles to your liking and the MT4 or MT5 Fibonacci tools (retracement and expansion with the 'correct' ratios added in).
Save it if you wish for later use.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,557
  • May 10, 2019 2:58am May 10, 2019 2:58am
Quoting Masterrmind
Harmonics Trading EURUSD [M5] {image} No need for a template just use any colored bars or candles to your liking and the MT4 or MT5 Fibonacci tools (retracement and expansion with the 'correct' ratios added in). Save it if you wish for later use. Masterrmind...........
EU [Now Short]

Very low volume on the first trade showing an example.
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Then we manage the trade but give it enough breathing space to play out.

Strong reversal against our short entry might mean tightening the stops or closing for profit.

Traders need to work hard on building up these skills.

Time and plenty of practise.

Later we add in more confluence by considering S&R, chart structure, psychological levels.

Then I'll start ramping up the volume per trade (within ARPA ofcourse, currently at a max of 3.75% over the account so as I said before about 2.4% for use here).

Masterrmind.............
Master your Mind then Master your Trades
  • #3,558
  • May 10, 2019 3:15am May 10, 2019 3:15am
Quoting Masterrmind
{quote} EU [Now Short] Very low volume on the first trade showing an example. {image} Then we manage the trade but give it enough breathing space to play out. Strong reversal against our short entry might mean tightening the stops or closing for profit. Traders need to work hard on building up these skills. Time and plenty of practise. Later we add in more confluence by considering S&R, chart structure, psychological levels. Then I'll start ramping up the volume per trade (within ARPA ofcourse, currently at a max of 3.75% over the account so as...
EU

Update
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Start following the PA, watching it unfold and look for clues where the market is showing a series of lower Lows and Lower Highs with relatively smaller pullbacks.

RR is set at 2 --> target is double the pips of the stop loss.

Masterrmind..............
Master your Mind then Master your Trades
  • #3,559
  • May 10, 2019 5:01am May 10, 2019 5:01am
EU

Update
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Recall the pullback zone I pointed out ie 61.8 Fib of the whole move up ?

Notice where price moved too and now where it has gone.

This is what can occur when a trade is left unattended (intentional in this example).

ps. not such a concern on this example as it only represents about 0.02% however it is on the live account.

pps. closing the trade out at the 61.8 Fib would still have netted a 1RR trade so still a great result.

Masterrmind............
Master your Mind then Master your Trades
  • #3,560
  • May 10, 2019 5:12am May 10, 2019 5:12am
GBPNZD [Harmonic example]

A much faster mover.
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Support and Resistance added.
Little by little we build up a confluent approach to our trade setup simply because we want the highest probability of success on our side over the longer term.

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