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multiple systems per pair/multiple pairs per system? 3 replies

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(binned per thread starter’s request) A system to capture open

  • #81
  • May 18, 2025 5:41pm May 18, 2025 5:41pm
Short GJ on 30m Chart
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 19 05 2025 30m Short.png Size: 13 KB
Your trade order needs to be in the right place at the right time.
  • #82
  • May 18, 2025 6:08pm May 18, 2025 6:08pm
Quoting Islandfx911
Short GJ on 30m Chart {image}

Why did you missed your rejection candle setup?

The stop loss would be much smaller, your Position Size would be bigger and you get your +7.5R sooner with more money.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83
  • May 18, 2025 6:09pm May 18, 2025 6:09pm
EJ TP Reached
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 19 05 2025 AS +25 .png Size: 12 KB
Your trade order needs to be in the right place at the right time.
  • #84
  • May 18, 2025 6:11pm May 18, 2025 6:11pm
GJ SL moved to +2
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 19 05 2025 30m Short +2.png Size: 12 KB
Your trade order needs to be in the right place at the right time.
  • #85
  • May 18, 2025 6:13pm May 18, 2025 6:13pm
Quoting RickM
{quote} Hi Vidvad Professional scalpers actually trade with often a negative risk to reward ratio so a breakeven win rate needed for many scalpers would be around 75%. A good scalper would need to above 80% win rate to make real money but they need “controlled rage” to trade and trust themselves totally because they are most likely to trade without a fixed stop and use a mental monetary one instead. I wish I owned an Island but not any time soon. Cheers
Hi Rick,
I think you meant more than 1:1 risk to reward ratio.

And,
Respect to @Islandfx911 for making live market calls.

Cheers
Know what you trade
  • #86
  • May 18, 2025 6:23pm May 18, 2025 6:23pm
Quoting emmanuel7788
{quote} Why did you missed your rejection candle setup? The stop loss would be much smaller, your Position Size would be bigger and you get your +7.5R sooner with more money.
Not in my trading hours and I trade 15m TF on 7.5 system.
Your trade order needs to be in the right place at the right time.
  • #87
  • May 18, 2025 6:30pm May 18, 2025 6:30pm
Moved GJ SL to +10 on 15m chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 19 05 2025 30m Short +10.png Size: 13 KB


I am still bearish on GJ at the moment and anticipate TP being reached.
Either way I have had a good Monday morning session.
I hope you understood why I selected those trades and time frames.
No further signals this morning.
Have a good day
Your trade order needs to be in the right place at the right time.
  • #88
  • May 18, 2025 6:35pm May 18, 2025 6:35pm
Quoting Islandfx911
{quote} Not in my trading hours and I trade 15m TF on 7.5 system.


so I see Tokyo open is not your trading hours.

you are only trading the Sydney Open 3 hours , then you do not trade the Tokyo Open.

this make it easy for me to make a back-test of the setups only during the Sydney market session which is New York 5pm to 7pm.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89
  • May 18, 2025 6:38pm May 18, 2025 6:38pm
Quoting Islandfx911
GJ SL moved to +2 {image}

Attached Image (click to enlarge)
Click to Enlarge Name: Islandfx911 GJ sell 19-5-2025 9-39-24 am.png Size: 28 KB



EXIT STRATEGY



when to move SL to BE+ is also another rule I need in my back-testing.

should I say, move EP to BE+ when price moved +0.5R or +1R?

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #90
  • May 18, 2025 6:51pm May 18, 2025 6:51pm
Quoting emmanuel7788
{quote} so I see Tokyo open is not your trading hours. you are only trading the Sydney Open 3 hours , then you do not trade the Tokyo Open. this make it easy for me to make a back-test of the setups only during the Sydney market session which is New York 5pm to 7pm.
you better sync your clock. He trades Tokyo Open which is the ASIA open and sync well with the ASX open (10am Sydney time).
Success = Practice + Patience + Persistence
  • #91
  • May 18, 2025 7:45pm May 18, 2025 7:45pm
Close but no cigar
That's Monday's for you.
GJ hit trailing SL at +10
With EJ +25 so +35 for the morning. It is not a great result but it is a positive one.
GJ was a 30m entry with a 15m SL move as market can take to much back of your profits with 30m SL.

Attached Image (click to enlarge)
Click to Enlarge Name: GJ 19 05 2025 Result +10.png Size: 12 KB
Your trade order needs to be in the right place at the right time.
  • #92
  • May 18, 2025 7:47pm May 18, 2025 7:47pm
Quoting emmanuel7788
{quote} so I see Tokyo open is not your trading hours. you are only trading the Sydney Open 3 hours , then you do not trade the Tokyo Open. this make it easy for me to make a back-test of the setups only during the Sydney market session which is New York 5pm to 7pm.
When I get 5 I will post something regarding 7.5R trades in the other thread.
Your trade order needs to be in the right place at the right time.
  • #93
  • May 18, 2025 10:27pm May 18, 2025 10:27pm
Quoting fxpider
{quote} you better sync your clock. He trades Tokyo Open which is the ASIA open and sync well with the ASX open (10am Sydney time).
this picture is worth more than one thousand words,

the time now is London 6am,

Attached Image (click to enlarge)
Click to Enlarge Name: FF Market session 19-5-2025 1-17-22 pm.png Size: 5 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94
  • May 18, 2025 10:34pm May 18, 2025 10:34pm
Quoting Islandfx911
Close but no cigar That's Monday's for you. GJ hit trailing SL at +10 With EJ +25 so +35 for the morning. It is not a great result but it is a positive one. GJ was a 30m entry with a 15m SL move as market can take to much back of your profits with 30m SL. {image}

you need high win rate when your overall system Expectancy is less than 1.5 for 1,000 trades.

using Trailing Stop like in your GJ trade is not a good Exit Strategy.

Just want to confirm your 5SMA, channel.
it is 5-Period Simple Moving Average set to High and Low prices, with no Shift ?

Attached Image (click to enlarge)
Click to Enlarge Name: AJ May19 SMA5 High Low.png Size: 31 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #95
  • May 18, 2025 10:53pm May 18, 2025 10:53pm
Quoting TradeForexFx
{quote} Please provide link to an indicator/EA, that you mention are out there, dealing with this setup. thanks
I have my Android world time clock with alarms to sound 10mins before the London 6am and 9am,

At the 5:50am alarm, I check all my trading charts for setups. Today happen I was driving so I stop by the next rest stop, ...

Below is an example of JPY 4 pairs with setup candle closing below the channel.

ALL pairs have a stop loss of ~10pips.

Attached Image (click to enlarge)
Click to Enlarge Name: JPY 4pairs London 6am setup 19-5-2025 1-43-38 pm.png Size: 30 KB


...


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #96
  • May 18, 2025 10:59pm May 18, 2025 10:59pm
Quoting emmanuel7788
{quote} this picture is worth more than one thousand words, the time now is London 6am, {image} ...
By your profile, you are trading from AUS however, the given screenshot does not sync with the AUS time. I use the same and totally sync with my time.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB


at the end of the day, it's totally up to you...how to use and calculate the session open time.
Success = Practice + Patience + Persistence
  • #97
  • May 18, 2025 11:33pm May 18, 2025 11:33pm
Quoting fxpider
{quote} By your profile, you are trading from AUS however, the given screenshot does not sync with the AUS time. I use the same and totally sync with my time. {image} at the end of the day, it's totally up to you...how to use and calculate the session open time.
@fxspider

You need to figure out the Sydney and Tokyo forex markets session hours.

My trading server is based on London local time. I know what the local time in the capital cities are with my world time clock.

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #98
  • May 18, 2025 11:55pm May 18, 2025 11:55pm
Quoting emmanuel7788
{quote} @fxspider You need to figure out the Sydney and Tokyo forex markets session hours. My trading server is based on London local time. I know what the local time in the capital cities are with my world time clock. ...
Wellington opens first 9.00pm GMT
Sydney Next at 11.00pm GMT
Tokyo 12.00am GMT
Its all just one persons opinion
  • #99
  • May 18, 2025 11:57pm May 18, 2025 11:57pm
Quoting emmanuel7788
{quote} @fxspider You need to figure out the Sydney and Tokyo forex markets session hours. My trading server is based on London local time. I know what the local time in the capital cities are with my world time clock. ...
Appreciate the advice, really. I’ve only been trading the Sydney and Tokyo opens so long, I could probably host a seminar on it… in my sleep.
Success = Practice + Patience + Persistence
  • #100
  • May 19, 2025 12:03am May 19, 2025 12:03am
Quoting fxpider
{quote} Appreciate the advice, really. I’ve only been trading the Sydney and Tokyo opens so long, I could probably host a seminar on it… in my sleep.

be patient,

when @Islandfx911 is ready, both he and I will do a boot camp in WA Margaret River for NITS and 5-Method traders.

...

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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