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  • #3,081
  • May 7, 2025 3:51am May 7, 2025 3:51am
This one was almost too good to be true.
4H support was broken and then on the lower TF I was looking at a pullback and entered at Frankfurt open.
Sadly I am still new to MT5 platform, was looking to take partial profits but instead closed entire position at 1:2.5. Otherwise it would be almost to pip perfect TP set at daily support for 1:5.3 TP. Oh well, at least something is locked.
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  • #3,082
  • May 9, 2025 12:14am May 9, 2025 12:14am
Hi Traders,
Just thought I would post my last trade for this week.
System is pumping out $$$ each week as expected.
Chart is GJ 15m

Have a great weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 09 05 2025 AS.png Size: 3 KB
Your trade order needs to be in the right place at the right time.
  • #3,083
  • May 9, 2025 12:47am May 9, 2025 12:47am
Quoting Islandfx911
Hi Traders, Just thought I would post my last trade for this week. System is pumping out $$$ each week as expected. Chart is GJ 15m Have a great weekend. {image}
Very nice.. usually not up at this time... curious what was your spread at the time ? O an da approximately 4 .
  • #3,084
  • May 9, 2025 1:11am May 9, 2025 1:11am
Quoting Lou
{quote} Very nice.. usually not up at this time... curious what was your spread at the time ? O an da approximately 4 .
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Spread.png Size: 2 KB
Your trade order needs to be in the right place at the right time.
  • #3,085
  • May 9, 2025 1:24am May 9, 2025 1:24am
I'm curious, the ones who use this system. How many % are you doing on average for the month on your account? If someone would like to share.

Will later post my last two trades for this week.
  • #3,086
  • May 9, 2025 1:46am May 9, 2025 1:46am
Quoting RoomyMusicia
I'm curious, the ones who use this system. How many % are you doing on average for the month on your account? If someone would like to share. Will later post my last two trades for this week.
Hi Roomy,
This is a personal question of which others might find intrusive, you may not get an answer.
For me I am happy with 3 - 5 winning trades a week, this does not suit 99.9% of traders here as they like to be in the action all the time.
I hit most 7.5R targets.
I have a decent size account now and therefore I go for quality not quantity.
Your trade order needs to be in the right place at the right time.
  • #3,087
  • May 9, 2025 2:24am May 9, 2025 2:24am
Quoting RoomyMusicia
I'm curious, the ones who use this system. How many % are you doing on average for the month on your account? If someone would like to share. Will later post my last two trades for this week.
I am still in backtesting stage for over a year now, so I'm testing the system using historical data and a simulator. To avoid distractions, I'm only trading in EUR/USD, and only London open. I average 6-7% per month and make about 2-3 trades per week.
  • #3,088
  • May 9, 2025 4:28am May 9, 2025 4:28am
I completely understand this is more of a personal question. We are all different. If no one answered I would be ok with it too.

@Isalnd I would consider 5 trades per week a good one. I don't like either too many trades. This week I'm on 6 I think though.

@Evaldas I did also fair bit of backtesting but still see, that real trades are still different. Not by a much, but 10-20% I would say.
For that reason I am doing really small account and learning along knowing that even when I loose a trade, I didn't lose much in terms of money.
Also I am not confident for 5pip stop losses yet, so I practice with around 10-15.
  • #3,089
  • May 9, 2025 6:12am May 9, 2025 6:12am
Quoting RoomyMusicia
I completely understand this is more of a personal question. We are all different. If no one answered I would be ok with it too. @Isalnd I would consider 5 trades per week a good one. I don't like either too many trades. This week I'm on 6 I think though. @Evaldas I did also fair bit of backtesting but still see, that real trades are still different. Not by a much, but 10-20% I would say. For that reason I am doing really small account and learning along knowing that even when I loose a trade, I didn't lose much in terms of money. Also I am not...
99% of the systems posted on FF only make money when the market moves some distance as they are mainly breakout systems with indicators. These 1R and 2R targets that they use will eventually be the demise of the system. With this system and entering on a rejection candle you will have the edge over all other systems /traders.
You just need to find the start of the move and stick with that trade. If you get stopped out and the signal is still valid get back in. If you have been in the trade for a few hours and get stopped out don't look for another trade in that session, the market is telling you something. It aint gonna happen!
There is a start point and a finishing point to each trade you just need the starting point each day and let that trade do what it has to do.
1 trade per day is the way to go. If you only get 2 trades a week that is 15R, any traders should be happy with that.
The more trades you place the more the chance of stuffing things up.
Your trade order needs to be in the right place at the right time.
  • #3,090
  • May 9, 2025 6:16am May 9, 2025 6:16am
Quoting RoomyMusicia
I'm curious, the ones who use this system. How many % are you doing on average for the month on your account? If someone would like to share. Will later post my last two trades for this week.
I have done 2 trades today and I am up 11.5% for the day.
Your trade order needs to be in the right place at the right time.
  • #3,091
  • May 9, 2025 6:29am May 9, 2025 6:29am
Quoting Islandfx911
{quote} 99% of the systems posted on FF only make money when the market moves some distance as they are mainly breakout systems with indicators. These 1R and 2R targets that they use will eventually be the demise of the system. With this system and entering on a rejection candle you will have the edge over all other systems /traders. You just need to find the start of the move and stick with that trade. If you get stopped out and the signal is still valid get back in. If you have been in the trade for a few hours and get stopped out don't look for...
Completely agree with you. That's why I'm sticking to this trading system, because you get really good rewards if you know what you are doing.
I hope I will someday be as good as you or some others here as well.
And as you said, for me, I deal with bigger stop losses for now because I am not yet there to determine a really good entry point. If I was, I would have had this week 2x 7.5R. They were 4-5R, but still, I am happy for now.
  • #3,092
  • May 10, 2025 10:54am May 10, 2025 10:54am
Newbie here. First, thank you all for the wonderful posts and helpful information. I'm reading through all the old posts. So far, I've made it about halfway through the thread. I can't wait to see how this works in my futures trading! I just wanted to let you know that new people are finding your posts and they are still beneficial to us. Thanks again and keep up the good work. Best wishes to all.
  • #3,093
  • May 11, 2025 4:45am May 11, 2025 4:45am
Hi Traders,
Just thought i would post this chart. It is basically what I look for each trading day.
It shows the two different types of setups I use for my trading.
Setup 1 is the Double Bottom entry which is a return to support and a rejection of support.
Setup 2 is the impulse pullback entry.
The thing that separates these setups or the difference between them is the time they occur.
It is highly important that you can differentiate the two setups.
The market open I trade tomorrow morning starts at 8.00am local time (3.00 MT4 Terminal Time)
At 7.45am I look at all the pairs I trade for the session and identify where price is in relation to the open.
All the setups I take are at the open and the first 1.5hrs of trade. Why? You should know the answer to this.
It is of coarse MARKET ENERGY. The open is when the days trading will be decided.
Question I ask myself before I place any trade is..
Has price made an impulse move and is now making a pullback that is likely to close as a rejection candle or..
Is price heading towards support / resistance and likely to close as a rejection candle.
This is all you need to know to get in the right trade at the right time.
In regards to placing small stops as I do, you have to look at what the market is doing or has done prior to your entry.
If we look at the impulse move first. Price has formed a base and moved sharply away from it. That is you first clue to direction.
The market then returns to the base (Support) before the open in an attempt to trick traders to go short / sell.
Then price rejects the support base and closes with a rejection candle.
My belief and system tells me that if a base has been formed and rejected it is not going to be tested or broken again, price is going up.
Therefore buy the rejection candle on close. Don't wait for bullish conformation with a big engulfing candle grow a pair and get in the trade.
If you are wrong it is a 1R loss.
If price is heading down to support, be it daily, 4hr 1hr etc prior to market open and closes with a rejection candle, what is it telling you?
Support is holding so get in the trade. Don't stress about a small SL, the stoploss is irrelevant. Just get on with the trade. You can either accept a 3pip SL or a 12 to 20SL. All i know is I prefer to take the 3 pip SL over 12 - 20 pip SL.
I hope this has given you some insight in to my trading process / thought process / beliefs and you can use it to your advantage.
Attached Image (click to enlarge)
Click to Enlarge Name: 2 Entry types.png Size: 16 KB
Your trade order needs to be in the right place at the right time.
  • #3,094
  • May 11, 2025 4:10pm May 11, 2025 4:10pm
Quoting Islandfx911
{quote} {image}
I don't know that there is a forex broker open to US traders with spreads like that on the GBPJPY.

Many years ago, before the US regulators largely closed retail FX to US traders, the GJ was my favorite pair to trade.
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,095
  • May 11, 2025 4:49pm May 11, 2025 4:49pm
Quoting Islandfx911
my trading. Setup 1 is the Double Bottom entry which is a return to support and a rejection of support. Setup 2 is the impulse pullback entry. The thing
Very simple and without bias
  • #3,096
  • May 11, 2025 5:59pm May 11, 2025 5:59pm
Hi Rob, thanks for all the useful information you post. I'm also from Australia, when you say you trade the open do you mean the Sydney open or Tokyo open? assuming your trading the Aussie pairs?
Thanks

BTW is this chart markup ok?
Attached Image (click to enlarge)
Click to Enlarge Name: Chart.PNG Size: 9 KB
  • #3,097
  • May 11, 2025 6:17pm May 11, 2025 6:17pm
Quoting Crows
Hi Rob, thanks for all the useful information you post. I'm also from Australia, when you say you trade the open do you mean the Sydney open or Tokyo open? assuming your trading the Aussie pairs? Thanks BTW is this chart markup ok? {image}
You chart is not correct. Your chart needs to be a 15m line chart before anything.
you can workout my trading times from this.... I am in WST
I don't mark up charts until 7.45am local time.
Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #3,098
  • May 11, 2025 6:21pm May 11, 2025 6:21pm
Quoting vidvad
{quote} I don't know that there is a forex broker open to US traders with spreads like that on the GBPJPY. Many years ago, before the US regulators largely closed retail FX to US traders, the GJ was my favorite pair to trade.
Hi Vidvad,
My spread is low because I pay a commission.
Peppers t on e Razor Account. AUDUSD is currently 0.2, Sometimes I can get 0.0 on AUDUSD
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Spread.png Size: 2 KB


GJ Spread
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Spread.png Size: 2 KB
Your trade order needs to be in the right place at the right time.
  • #3,099
  • Edited 7:50pm May 11, 2025 7:20pm | Edited 7:50pm
Hi Traders,
The only pair that came to my attention was UJ short.
It is a weak signal but no worries placing the order as only a 1R stop out if it does not work out.
I do have losing trades.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 12 05 2025 AS Line.png Size: 7 KB

Attached Image (click to enlarge)
Click to Enlarge Name: UJ 12 05 2025 AS Candle.png Size: 7 KB


Update: SL hit for -1R
I half expected it as Mondays can be quiet as traders wait for direction and news.
Your trade order needs to be in the right place at the right time.
  • #3,100
  • May 11, 2025 7:54pm May 11, 2025 7:54pm
Rob is this better?

Quoting Islandfx911
{quote} You chart is not correct. Your chart needs to be a 15m line chart before anything. you can workout my trading times from this.... I am in WST I don't mark up charts until 7.45am local time. Regards Rob
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