The Jail Break System | Page 699 | Forex Factory

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The Jail Break System

  • #13,961
  • Apr 27, 2021 8:22am Apr 27, 2021 8:22am
How are you doing Pockerchip?
  • #13,962
  • Apr 27, 2021 8:33am Apr 27, 2021 8:33am
I don’t use indicators, I hand plot price movement, which is time consuming but it has helped me to perfect my technique and to understand the subtleties of price.
  • #13,963
  • Apr 27, 2021 8:50am Apr 27, 2021 8:50am
Quoting Houtbay
How are you doing Pockerchip?
Lol, I'm good.

How are you ?
Patience, let the trade come to you.
  • #13,964
  • Apr 27, 2021 8:50am Apr 27, 2021 8:50am
Quoting Houtbay
I don’t use indicators, I hand plot price movement, which is time consuming but it has helped me to perfect my technique and to understand the subtleties of price.
Yes, I agree stay with works for you.
Patience, let the trade come to you.
  • #13,965
  • Apr 27, 2021 9:01am Apr 27, 2021 9:01am
Yes trading is a personal journey. Each trader starts at the same point, most don’t finish. I have learnt that the harder path is always the easier path later on in the journey. Everyone needs to plot their own path. Poor preparation leads to failure, it’s the same as navigating without a compass or sailing without a rudder.
  • #13,966
  • Apr 27, 2021 9:23am Apr 27, 2021 9:23am
Quoting Houtbay
Yes trading is a personal journey. Each trader starts at the same point, most don’t finish. I have learnt that the harder path is always the easier path later on in the journey. Everyone needs to plot their own path. Poor preparation leads to failure, it’s the same as navigating without a compass or sailing without a rudder.
I agree, every trader is different. I think if a trader keeps on learning, that trader gets better in time. It takes years to learn how to trade. I have always learned form a failed trade. And I have had at least hundreds of them since 2008.
Patience, let the trade come to you.
  • #13,967
  • Apr 27, 2021 9:43am Apr 27, 2021 9:43am
Quoting Evcryto78
Quoting PokerChip
This is a forex system " The Jail Break System " that I started working on in June of 2010 after losing exactly $330,000 dollars from multiple forex accounts that begin in 2008. Dear Brad, Sir First of all bow down to your efforts and time you've put into this thread, your openly shared experience, ideas, and the System you brought out to traders!!! I find it really valuable. Last week started to read this thread from post #1 and finally got to almost an end of it))))) As a newbie trader do my best to learn from experienced
...
I'm sorry for just now replying. I need to go back from time to time and read and see all the remarks.

You are welcome. It's been a lot of fun posting on Forex Factory.

If you have any questions let me know. Sometimes I can help, other times I can try and figure it out.

I think if a person wants to be a good trader, meaning make a profit for the month. He/She has to be a curious type. I'm a curious, I'm almost 65 years old but I'm as curious as a 5 year old. I think people are born that way.

But if you are a curious person that likes to know what makes things tick, then you'll make it in Forex.

Forex changes everyday. Why ? because the market maker is always changing. He wants your account, that's what this all boils down to.

If you can change with the market maker, try and shadow his moves. You'll be a good trader.
Patience, let the trade come to you.
  • #13,968
  • Apr 27, 2021 9:50am Apr 27, 2021 9:50am
Quoting abbie
{quote} Patiente game it´s on...hope you're right and the AUD/USD isn't dropping... Bedankt from AMS!
Hello Abbie,
I think AUD/USD will really start to drop by this Thursday. It's come down a bit today, I think because there are buyers above and the market maker has them trapped. Once they have closed those trades it will move up again into that same area, .78
Patience, let the trade come to you.
  • #13,969
  • Apr 27, 2021 10:37am Apr 27, 2021 10:37am
Note: When you are going to close a trade,

When you have your cursor on the yellow bar, the market maker see's enough traders hovering over the bar. He will go the opposite way.

Moral of the story don't hover over the bar.
Patience, let the trade come to you.
  • #13,970
  • Apr 27, 2021 11:21am Apr 27, 2021 11:21am
Gbpaud is a sell down
  • #13,971
  • Apr 27, 2021 8:29pm Apr 27, 2021 8:29pm
Note: This is a update on the Williams percentage range indicator on the daily chart.
When the Williams percentage range indicator is above the 50 ema and it enters the over bought zone
-20 its time to buy.

When the Williams percentage range indicator is below the 50 ema and it enters the oversold zone
-80 it’s time to sell.

I know this is going against what you have learned or what you have been taught.

I think if you test this indicator I think you’ll find that you’ll be trading right along with the market maker.
Patience, let the trade come to you.
  • #13,972
  • Edited 6:42pm Apr 28, 2021 7:48am | Edited 6:42pm
Using the Williams percentage range indicator. As you can see you can see it's over bought.

I bought EUR/USD at 1.20745

Update: EUR/USD at 1.20932

Update on this trade. I'm thinking that there are a lot of sellers above. This is why the pair is moving higher so slowly.

7:30 pm update.

I entered another trade into EUR/USD at 1.21285, I think it's going to around 1.21900
Patience, let the trade come to you.
  • #13,973
  • Apr 28, 2021 3:44pm Apr 28, 2021 3:44pm
Quoting PokerChip
{quote} Hello Abbie, I think AUD/USD will really start to drop by this Thursday. It's come down a bit today, I think because there are buyers above and the market maker has them trapped. Once they have closed those trades it will move up again into that same area, .78
Thanks for sharing PokerChip!
I just read your latest posts... it seems that AUD/USD is really your thing...
We will see how this couple behaves for the next two days...
Groeten!
  • #13,974
  • Apr 28, 2021 6:39pm Apr 28, 2021 6:39pm
Quoting abbie
{quote} Thanks for sharing PokerChip! I just read your latest posts... it seems that AUD/USD is really your thing... We will see how this couple behaves for the next two days... Groeten!
Ah, it's my thing because I have been stuck in AU since June 15th 2020. So 10 months and counting right now. 2 lots worth.

I'm not concerned I have rode it out this long I think when the markets crash (Nasdaq, Dow Jones) AU you will crash with them. Maybe August they'll start to slide lower.

The US dollar will gain because it's the reserve currency.

That's why I'm watching AU so much. NZD/USD too.
Patience, let the trade come to you.
  • #13,975
  • Edited 11:09am Apr 30, 2021 7:52am | Edited 11:09am
I have sold NZD/CAD at .88640 because it has entered the Williams Percentage Over Sold Range.

Daily chart only.

Update: I have also sold AUD/CAD at .95223, its in the over sold zone.

Update: Still in both trades, 11:52 am my time.

I have closed both trades, 12:10pm my time. Indiana
Patience, let the trade come to you.
  • #13,976
  • Apr 30, 2021 9:00pm Apr 30, 2021 9:00pm
I'm in a sell trade right now in AUD/CHF on the daily chart.

I entered the sell trade at .70388

I think it might be good for 45 pips.

We will see next week.

I'm working on a EA for the daily chart exclusively.

I have searched Forex Factory and not found a EA with my trading idea.

I traded all week using my new idea and it did pretty well.
Patience, let the trade come to you.
  • #13,977
  • May 1, 2021 4:45am May 1, 2021 4:45am
Quoting PokerChip
Here's the EUR/CHF on the daily chart. {image}
Hi PokerChip,
I hope you are fine. You said ''A strong drop on the daily chart candle will begin with no upper wick, the candle will be flat and have a lower wick.'' At this cahart the HA candle that you sell has a long upper wick, I don't understand wich is flat and has no lower wick, can you explain details, Thank you.
  • #13,978
  • May 1, 2021 8:11am May 1, 2021 8:11am
Quoting Celal
{quote} Hi PokerChip, I hope you are fine. You said ''A strong drop on the daily chart candle will begin with no upper wick, the candle will be flat and have a lower wick.'' At this cahart the HA candle that you sell has a long upper wick, I don't understand wich is flat and has no lower wick, can you explain details, Thank you.
Hello Celal I hope you are good.

I only use Heiken Ashi candles. The Daily chart will expose between the weak trend and the strong trend.

When you see a red candle that is flat on the top with a long lower wick this is considered as a strong downward trend, meaning more weakness to come.

When you see a green candle that is flat on the bottom with a long wick on top. This is considered to be a strong higher movement, and more higher movement to come.

I'm sorry if I had confused you. Some times I type and forget to proof read if I'm in a trade.
Patience, let the trade come to you.
  • #13,979
  • Edited 10:27am May 1, 2021 10:16am | Edited 10:27am
Quoting PokerChip
{quote} Hello Celal I hope you are good. I only use Heiken Ashi candles. The Daily chart will expose between the weak trend and the strong trend. When you see a red candle that is flat on the top with a long lower wick this is considered as a strong downward trend, meaning more weakness to come. When you see a green candle that is flat on the bottom with a long wick on top. This is considered to be a strong higher movement, and more higher movement to come. I'm sorry if I had confused you. Some times I type and forget to proof read if I'm in a trade....
Hi PokerChip,
The HA bars that you determine at the begining of strong market at the top can I say these are entering(sell) bars for daily charts(FOR''The Break The MM System'' )?
  • #13,980
  • May 1, 2021 10:32am May 1, 2021 10:32am
Yes, Heiken Ashi daily candles are very strong.


Please don't under estimate the Heiken Ashi candles.

They can make you lot of money.
Patience, let the trade come to you.
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