Quad Candle Dashboard {image} Does it hold any useful information ? Masterrmind..............
Which pair would YOU choose ?
Masterrmind...............
Master your Mind then Master your Trades
- #3,861
- Dec 16, 2019 7:46am Dec 16, 2019 7:46am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Which pair would YOU choose ?
Masterrmind...............
- #3,862
- Dec 16, 2019 7:52am Dec 16, 2019 7:52am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
My choice is EJ
Question is why would I trade it ?
More importantly am I going to trade it ?
Masterrmind..............
Question is why would I trade it ?
More importantly am I going to trade it ?
Masterrmind..............
Master your Mind then Master your Trades
- #3,863
- Dec 16, 2019 8:26am Dec 16, 2019 8:26am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
EURJPY Short Setup
Volume:
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).
This volume range is valid up to 2K then lots double as per Post 1 guidelines.
Setup Now Executed
This is not a Class 1 entry since it uses an Octive Signal in isolation (although I have aligned a Gann confluence with it in the background).
With it comes a certain amount of risk but risk that I can easily take on board.
Risk on Entry 1 is ~1% of Account Equity.
Note that I have entered initial trade at market followed by 2 Sell Stop orders, this means I have 2 additional entries that can be applied later if desired.
Good trading,
Masterrmind..............
Volume:
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).
This volume range is valid up to 2K then lots double as per Post 1 guidelines.
Setup Now Executed
This is not a Class 1 entry since it uses an Octive Signal in isolation (although I have aligned a Gann confluence with it in the background).
With it comes a certain amount of risk but risk that I can easily take on board.
Risk on Entry 1 is ~1% of Account Equity.
Note that I have entered initial trade at market followed by 2 Sell Stop orders, this means I have 2 additional entries that can be applied later if desired.
Good trading,
Masterrmind..............
Master your Mind then Master your Trades
- #3,866
- Dec 18, 2019 3:41am Dec 18, 2019 3:41am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Hi MasterrMind... Here is a trade on the AUD/CHF Price going down...Note the previous bullish candles going UP followed by 2 bearish candles + 2 more, going Down! Cheers, Jeff {image}
One point here is that stops should be above the Quad Short pattern and this distance must be within 2 Octive Gaps of the D1 Master Octive Trading Frame.
In other words entry price plus 2 Octive Gaps must be above the high bar of the Quad Short pattern.
Was it ?
Then Target must be a minimum 1RR.
Trade must also be entered within the bar following the Quad Candle pattern and not later.
Exception to this would be if price is still within the Master Octive Extreme Zones and your entry signal has now become an Octive Short Signal in this case.
This approach will greatly improve your longer term trading success.
Good trading,
Masterrmind.........
Master your Mind then Master your Trades
- #3,867
- Dec 19, 2019 4:32am Dec 19, 2019 4:32am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
$10,000 Account Basic Trading Plan General Approach: As per Post 1 guidelines using Quad Patterns and the Master Octive Trading Frame Time Frame: D1 only Symbols: Market Watch (mostly from a selection of the 28 main currency pairs + Gold and Silver) Main Strategies: QCS (Technical + Fundamental) Minor Strategies: (hedging + cash injection) Lot Range: Max Lot Size (per trade) and Recommended Volume Ranges Max Lot Size = Equity/10000 Recommended Volume Range = [Equity/100000 to Equity/20000] If Equity >= $10,000 then Max Lot Size = 1.00 lot --> recommended...
So this account will cease and I'll start off with a fresh one in January 2020.
The current 1K account will continue its journey but with I may close the current open trade in profit if it fails to reverse deep enough to warrant keeping it open.
More details later.
Masterrmind.........
Master your Mind then Master your Trades
- #3,868
- Dec 19, 2019 3:08pm Dec 19, 2019 3:08pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Without any great Quad Candle setups and with xmass and end of year just around the corner I see no point in opening up trades on the 10k account. Simply did not get the right setup earlier enough this month and thats ok with me. So this account will cease and I'll start off with a fresh one in January 2020. The current 1K account will continue its journey but with I may close the current open trade in profit if it fails to reverse deep enough to warrant keeping it open. More details later. Masterrmind.........
I have now closed out of Entry 1 for a small gain.
The pending orders have been cancelled.
That is likely to be the last entries on the 1K account for this year.
Good trading,
Masterrmind.........
Master your Mind then Master your Trades
- #3,871
- Dec 21, 2019 5:49am Dec 21, 2019 5:49am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
AUD/NZD a quad candle pattern in forming {image}
As an exercise and if you were going long at 1.5 Octive Gap SL ... how might this setup look on your posted chart.
In other words can you draw your entry (this will be current price), draw SL price level, draw Target 1 at 1RR, Target 2 at 2RR and Target 3 at 3RR.
What is the applied risk if SL is at 1 Octive Gap, 1.5 Octive Gaps or 2 Octive Gaps based on 1K equity ?
Masterrmind.........
Master your Mind then Master your Trades
- #3,872
- Dec 21, 2019 12:51pm Dec 21, 2019 12:51pm
- | Joined Jan 2018 | Status: Trader | 1,108 Posts
{quote} Good observation. As an exercise and if you were going long at 1.5 Octive Gap SL ... how might this setup look on your posted chart. In other words can you draw your entry (this will be current price), draw SL price level, draw Target 1 at 1RR, Target 2 at 2RR and Target 3 at 3RR. What is the applied risk if SL is at 1 Octive Gap, 1.5 Octive Gaps or 2 Octive Gaps based on 1K equity ? Masterrmind.........
I would risk 1% on this trade. For know which size to use, i will simply calculate which size i need for lose the 1% with 130 pips (0.01 i think)
Sorry if i did all wrong but i'm new to this, always been a scalper/intraday trader and occasionally long term but always traded following "my rules"
- #3,873
- Dec 22, 2019 7:12am Dec 22, 2019 7:12am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} I would risk 1% on this trade. For know which size to use, i will simply calculate which size i need for lose the 1% with 130 pips (0.01 i think) Sorry if i did all wrong but i'm new to this, always been a scalper/intraday trader and occasionally long term but always traded following "my rules" {image}
First determine Octive Gap.
The Octive Gap is the distance in pips between any 2 adjacent parallel lines on the Master Octive Trading Frame between OPL_0 to OPL_8.
So OPL_0 to OPL_1 is 1 Octive Gap.
Similarly OPL_1 to OPL_2 is 1 Octive Gap.
And so on up to OPL_7 to OPL_8 is 1 Octive Gap.
The Upper or Lower Extreme Zones cover 2 Octive Gaps.
Octive Gap on that D1 pair is 61 pips.
1 Octive Gap = 61 pips.
1.5 Octive Gaps = 1.5 × 61 pips = 91.5 pips.
2 Octive Gaps = 2 x 61 pips = 122 pips.
The SL on your chart should be 1.5 Octive Gaps below entry but I can see it is actually greater than 2 Octive Gaps and therefore incorrect.
Your TP1 is also incorrect since it should be at 1RR.
Your TP2 is also incorrect since it should be at 2RR.
Your TP3 is also incorrect since it should be at 3 RR.
Corrected as follows:
1RR here is 1 x 1.5 Octive Gaps so it should be 91.5 pips.
2RR here is 2 × 1.5 Octive Gaps so it should be 183 pips.
3RR here is 3 x 1.5 Octive Gaps so it should be 274.5 pips.
Remember once you choose your SL be it 1, 1.5, 2 or any other value between 1 and 2 then this distance in pips becomes your 1RR value, then higher RR is simply a multiple of this gap.
Risk:
Depending on the AN pip value, on a 1K account the SL will be just under 1% risk using 0.01 lots.
Gain:
TP1 will be just under 1%.
TP2 will be just under 2%.
TP3 will be just under 3%.
Note: Symbol specifications should be used to gather symbol information.
Masterrmind.........
Master your Mind then Master your Trades
- #3,878
- Edited 5:22pm Dec 23, 2019 5:07pm | Edited 5:22pm
- Joined Aug 2006 | Status: Trader | 3,126 Posts
- #3,880
- Dec 23, 2019 10:12pm Dec 23, 2019 10:12pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Upcoming possible Long USD/SGD I monitor 30 pairs and do evening analysis of each pair preparing for trades that are setting up for the next day. Here are my thoughts on this pair.... as per the setup rules by Masterrmind in post #1. With the holiday week I do not see many pairs setting up for upcoming trades and I will be careful not to enter trades after todays entries. {image}
Great to see your thoughts.
Masterrmind.......
Master your Mind then Master your Trades