The Jail Break System | Page 514 | Forex Factory

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The Jail Break System

  • #10,261
  • Mar 30, 2020 2:05pm Mar 30, 2020 2:05pm
GBP/CAD: Looking for Level 2. I went ahead and placed a BUY, let's see how long the MM drags their feet to continue going up. I used 4H this time PokerChip!
Attached Image (click to enlarge)
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  • #10,262
  • Mar 30, 2020 2:22pm Mar 30, 2020 2:22pm
Quoting pamc
{quote} Was that a misspell? 'I am a tool, and must'
Lol. No spelling mistake, tool it was. I made a mistake by not looking at the ADR. BUT I didn't have to, the way today went quite slow.
I made my trades and never got as far as adding on. I almost did. When price hit the 00-00 4 HR low. I actually stopped trading and that's when I noticed my mistake
Take care all. Let's do it again tomorrow.
Stay Safe...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10,263
  • Mar 30, 2020 2:24pm Mar 30, 2020 2:24pm
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Click to Enlarge Name: GU 1hr 3003.png Size: 72 KB
  • #10,264
  • Edited 2:37pm Mar 30, 2020 2:27pm | Edited 2:37pm
Jail_EA

-Added Break Even as protection
BE = 30
if BE > 0 when price move and pass 30 pips in favor SL will move 1 pip above entered price and after that no more action will be done. when activated "Break Even will show right to EA Activated

- Added on/off button at the top left corner,

- Buy and Sell lines will be drawn when the price is set and can be adjusted by dragging them on the screen

- Visuals and On/Off do not work through strategy tester and hopefully you shouldn't need this anymore.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.png Size: 22 KB


no more improvement will be done for this EA, this is final version 1.0
Attached File(s)
File Type: ex4 Jail_EA.ex4   26 KB | 314 downloads
File Type: mq4 Jail_EA.mq4   17 KB | 388 downloads
Forex can only be understood backwards, but it must be traded forwards.
  • #10,265
  • Mar 30, 2020 2:46pm Mar 30, 2020 2:46pm
Quoting BenMcKinnon
{quote} Hi PC, may I ask what MA's you use?
Sorry it took so long to get back to you.

I don't use any indicators except for the box levels.

I put the ema's on the chart because some traders like to use them.
Patience, let the trade come to you.
  • #10,266
  • Mar 30, 2020 2:47pm Mar 30, 2020 2:47pm
Quoting prozor7
Jail_EA -Added Break Even as protection BE = 30 if BE > 0 when price move and pass 30 pips in favor SL will move 1 pip above entered price and after that no more action will be done. when activated "Break Even will show right to EA Activated - Added on/off button at the top left corner, - Buy and Sell lines will be drawn when the price is set and can be adjusted by dragging them on the screen - Visuals and On/Off do not work through strategy tester and hopefully you shouldn't need this anymore. {image} no more improvement will be done for this EA,...
Thank you for posting the updated version.
Patience, let the trade come to you.
  • #10,267
  • Mar 30, 2020 3:26pm Mar 30, 2020 3:26pm
Quick question regarding your USD/JPY 4 hour chart PC...

How do you know level 3 isn't the reversal instead of a level and also how do you estimate where new levels will form?

Really interesting thread and style of trading you got going here. Hoping I can get to understand it a bit more before trying it out in demo.

Thanks in advance
  • #10,268
  • Mar 30, 2020 3:29pm Mar 30, 2020 3:29pm
Quoting PokerChip
{quote} Once you make the switch to the 4 hour chart, you will not miss the 1 hour chart. The 4 hour chart will make you a more discipline trader, a all around better trader. Market makers hate discipline traders, because they make very little profit from them. Market makers want gamblers, dice throwers in forex. Las Vegas style traders. No future being a Las Vegas style trader, Las Vegas was built on losers, ha I should know I was a loser in the beginning.
Also I saw on your pictures with the blue boxes you have some whipsaw and some ridges but there are times where you totally skipped a candle or ignored its breakout and you still formed a blue box around those candles.

Can you, please, outline the way how exactly we can identify those regions. Like being more specific, like some strategies that mention to count candles backwards 5 times or 8 times and something alike.

I mean this is just a beginner question so thats why Im trying to wrap my head around it and identify regions more precisely without identifying something thats not there.

Thank you so much for your time.
  • #10,269
  • Mar 30, 2020 3:51pm Mar 30, 2020 3:51pm
GBP/CAD: Going up into profit just as PC's Jailbreak System called it.

It is so exciting to finally see green numbers in my P/L PokerChip, THANK YOU for sharing your system and having such a great group of traders.
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  • #10,270
  • Mar 30, 2020 3:52pm Mar 30, 2020 3:52pm
Quoting clayton89
Quick question regarding your USD/JPY 4 hour chart PC... How do you know level 3 isn't the reversal instead of a level and also how do you estimate where new levels will form? Really interesting thread and style of trading you got going here. Hoping I can get to understand it a bit more before trying it out in demo. Thanks in advance
This is a really good question.

If you at the top of the 3rd level box there are 5 green candles that contain over 200,000 buyer lots. There are also 2 red candles that contain 69,000 seller lots.

The market maker is going to go after every single buyer lot and probably made every single buyer to close they're trades.

So right now the market maker is trying to entice sellers to sell this pair because I think he's going push the pair from here on out back pass the 3rd level.
Patience, let the trade come to you.
  • #10,271
  • Mar 30, 2020 3:57pm Mar 30, 2020 3:57pm
Quoting VicarPhilip
GBP/CAD: Going up into profit just as PC's Jailbreak System called it. It is so exciting to finally see green numbers in my P/L PokerChip, THANK YOU for sharing your system and having such a great group of traders. {image}
You're welcome.

Glad to see you profitable.

Trading is a lot of fun when your trading with the market maker.
Patience, let the trade come to you.
  • #10,272
  • Mar 30, 2020 4:03pm Mar 30, 2020 4:03pm
Quoting RandySavage
{quote} Also I saw on your pictures with the blue boxes you have some whipsaw and some ridges but there are times where you totally skipped a candle or ignored its breakout and you still formed a blue box around those candles. Can you, please, outline the way how exactly we can identify those regions. Like being more specific, like some strategies that mention to count candles backwards 5 times or 8 times and something alike. I mean this is just a beginner question so thats why Im trying to wrap my head around it and identify regions more precisely...
I would be glad to answer all these questions, but I would recommend that you back to page 1 and read from the beginning.

I think this would help understand my trading system so much more.

There is a mental part to this trading system that you should understand, and this part the market maker doesn't want you to know the truth.

Knowing why a pair is moving up is 100% for a reason.

It's not because there are so many more buyers than sellers or there are so many more sellers than buyers.

The market maker tries to create a imbalance of buyers vs. sellers.

When gets the imbalance he goes after the biggest group of traders.

I hope this helps you.
Patience, let the trade come to you.
  • #10,273
  • Mar 30, 2020 4:31pm Mar 30, 2020 4:31pm
Quoting prozor7
{quote} glad to see you are using EA -remember EA will not close trade if not working what do you think about EA
My least favorite part of trading on 4hr is waiting around. Might just be a scalper at heart

Anyways, giving your EA a shot
its just a script. join the club
  • #10,274
  • Mar 30, 2020 4:59pm Mar 30, 2020 4:59pm
Hi Poker Chip - I remember you saying that you take around 3 trades a day? Whilst I was able to spot a lot of opportunities last week, having looked at the charts today I've struggled to find anything that stands out to trade. I've put a few on (just demo) but they're not what I'd call A+ trades, just more to have something to do. Is this normal and have you found good opportunities to trade today?
  • #10,275
  • Mar 30, 2020 5:09pm Mar 30, 2020 5:09pm
Quoting Wellington
Hi Poker Chip - I remember you saying that you take around 3 trades a day? Whilst I was able to spot a lot of opportunities last week, having looked at the charts today I've struggled to find anything that stands out to trade. I've put a few on (just demo) but they're not what I'd call A+ trades, just more to have something to do. Is this normal and have you found good opportunities to trade today?
I made 3 trades today, 2 buy trades in GBP/CAD and 1 buy trade in USD/JPY.

I had a good day.

I'm still stuck 3 times in USD/JPY.

Waiting for that pair to start moving higher.
Patience, let the trade come to you.
  • #10,276
  • Edited 5:40pm Mar 30, 2020 5:23pm | Edited 5:40pm
Quoting RandySavage
{quote} Dead PokerChip, When you say 3 phases and when you say we need to make our move on the 3rd phase do you mean the third blue box like highlighted below?! {image}
As you can see the market maker is trapping buyers.

The market maker traded at the 1st level for 6 days.

The market maker is enticing buyers to come in and then he traps them and then will push the pair lower.

This is repeated over and over again.

Very choppy pair to trade.

I hope this helps.
Attached Image (click to enlarge)
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Patience, let the trade come to you.
  • #10,277
  • Mar 30, 2020 5:31pm Mar 30, 2020 5:31pm
Quoting PokerChip
{quote} I made 3 trades today, 2 buy trades in GBP/CAD and 1 buy trade in USD/JPY. I had a good day. I'm still stuck 3 times in USD/JPY. Waiting for that pair to start moving higher.
thanks
  • #10,278
  • Mar 30, 2020 5:41pm Mar 30, 2020 5:41pm
Quoting Wellington
{quote} thanks
You're welcome.
Patience, let the trade come to you.
  • #10,279
  • Mar 30, 2020 5:47pm Mar 30, 2020 5:47pm
G'day, missed out last night....
Stay green!!!
  • #10,280
  • Mar 30, 2020 5:49pm Mar 30, 2020 5:49pm
Quoting Froggy
G'day, missed out last night....
Hello Froggy,

There's always tomorrow.
Patience, let the trade come to you.
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