Quad Candle System

Moving right along...

Hello Masterrmind...Will there be a MT5 version of the Quad Candle System?
Thank you...
Cheers.
Jeff

Yes eventually there will be an MT5 version posted here.

I will also code up QCS for the cTrader platform.

Both posted versions will be of the basic type only meaning they will not contain any of the advanced overlays.

As time frees up I will start posting some advanced setups with my charts but most likely after this account exceeds 5K which won't be too long considering that it is topped up monthly with 1K deposits.

It appears that traders posting here have the basics covered so we can start adding in other useful techniques soon.

One factor to focus on will be risk management.

Long term survival is directly related to following the risk management guidelines set out in Post 1 which includes risk per trade, stop loss distances, max volume per trade, max volume across the account and several other key factors.

For traders starting out with small account sizes (eg. 1k) it is recommended that the number of entries should be limited including the use of only 1 cycle of trades on a single symbol at the one time.

For example, if EURUSD was chosen and account equity was 1k it is better to control the risk by only using 3 entries such as Trade1 @ 0.01 lots, Trade2 @ 0.02 lots and Trade3 @ 0.03 for a total open volume of 0.06 lots instead of all suggested 5 entries.

Once price has moved in your favor such as 2 Octive Gaps and the position is moved to BE plus pips then you may consider adding in an additional trade since some risk has been limited by locking in some floating profit.

For medium and larger retail FX trading accounts there is far greater flexibility since smaller volumes than the recommended volumes can be used and across several symbols.

As my account grows in size I will explain this in greater detail by including examples straight from the account.

Good trading,

Masterrmind ........

Update...

Watching...

It will be good if closing candle stays this way.
Then I'll be in the same trade as you, for tmr.

Candle closed, set pending order done.

With you, pending order is IMHO, best way to enter...

SL to BE in NZD/CAD trade, pending order to enter EUR/CAD...

Great trade on NZDCAD

I just placed a trade on the USD/JPY

How's your trade mgtment sir, when your trade gets triggered?
Convenient to share here? Or PM is ok?

On my radar today: Natgas, pending order set to LONG

Thought it likely that price would stall, and consolidate at this point. That pattern appears to be materializing...

Pending orders.....

Wow can't believe I Finally arrived at the last page after going through all pages from the start for 4days, Mastermind I must say you've got a great system here which I'm also looking forward to explore. I love the transparency you've included right from the start (not many trader do that) showing both wins and losses. I look forward to learning more from you and others who's been using this system

" O Fairest flower no sooner blown but blasted, Soft silken Primrose fading timelesslie, Summer's chief honour if thou hadst out-lasted Bleak winter's force that made thy blossome drie;..."

Nice charts.

Great work.

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

Welcome Admiirall.

Plenty of useful techniques to learn here.

Masterrmind ........

Playing an Octive Short on Gold.

Minimal volume being applied here.

Masterrmind .........