Tony's Two Candle trading system

cc - been here, zero ea - just runs history clean (blank ea)- 4 testing whatever you want

I am going to make 2 more posts on this thread, and perhaps forget about my journal aswell.

The problem with ALL factory threads is that there are a few people out there who are genuinly trying to succeed and then there are others who just have to come along and try to ruin the flow.

The information given in any particular arena can be tossed and turned until the beliefs of a few can overwhelm the beliefs of many. In most instances the person who started a particular thread gets fed up and moves away to enjoy or lament their future. So many threads that have been started by a particular person seldom see that person actively post throughout the entire thread, in fact they can go weeks or months without posting. This leads one to think a few things. They are either enjoying there success with the orginal method or they have gone bust and dont want to show themselves for fear of looking like a failure. The second to most is probably the prominant truth.

When I came along I was just genuinly interested in the simplicity of this thread. The orginal post and subsequent posts could have been tweaked slightly as the claims may not be quite as high (MY BELIEF) so I stated so, but that statement was made once. I then went on to provide some support. However, Tony may have been trading this method for years, he may have found an EDGE to this method that he perhaps doesnt want to share right now. Believe it or not (even in randomness) traders who have devoted a particular amount of time to something with usually always see more information in particular circumstances that would trigger alarms. These alarms may be a load up situation or a hold back situation. These situations, no matter how well they try to define them to others will seldom be absorbed until they have spent time trading and can see it.

Very few people understand FOREX and most come along because today it is advertised like a monster on the internet. Proven methods, demo accounts with 100K leveraged a 400:1 promising money, auto traders that trade for you, the list goes on and on and ON. 4 years ago when I started trading there was much much less on the internet in ways of adverts. If you wanted to find something there was stacks of information, but you had to have some idea as to what it is you wanted. Youtube holds thousands of 'winning strategy' vids that people can watch. Very few people truly understand the risks of trading. They come along to forums, watch countless videos and try to participate without understanding. Does it take a great deal of knowledge to understand trading? Not neccesarily otherwise the uber minds of the world would be dominating this business.

Why do 95% of people fail. There are a number of reasons. In most cases it is there desire to make millions out of cents in the shortest time and without devoting enough time to see if some particular thing works. That brings me back to the countless times (in all threads) where an anon person make a pointless claim that something they refuse to give anytime to will fail. How easy is it to do! It is easy for people to put in there 2c, walk away and never be seen again. Most times you can look back upon this 'posters' previous posts and find support immediatly in that they have seldom contributed to any thread more than a handful of times.

Forums like these are at there core designed to be a place where people can have access to information. People come up with an idea ( currently working or in the process of) and post it. They give out the information they feel relative and other come along and give there imput. Imput is great if people understand the initial post. If they dont then they simple ask for it and in time the thread initiator will give it. These people are the constructive ones, they are looking at something, deeming it to be possible but just need to get some more pieces of the puzzle. In time most of these will give this method a go and if things work out for the better then the posts will thrive and thread will grow to a point where the information gathered will vastly outweigh the critism that rogue posters deliver.

Final note: We all have the desire to succeed but desire isnt enough. Traders take years and years of hard knocks before finally putting all the pieces together. Few people have the time to withstand this. Few people have the time to read, understand and implement. I can back this up with the mountains of posters who make the rediculous claims without proof that something doesnt work. They open a thread, go straight to the last page and ask how something works, they are not prepared to go back through the pages and pages of posts to get answers to the questions that have been raised tens to hundreds of times. Some just read the opening post and make judgement. These are the same people who (if they read books at all) just read a blurb and decide that a book contains nothing useful or no great storyline. I dont normally worry myself with these people because the vast majority will not get past there first 100 trades (or less) without disaster and that will be there trading career gone in the blink of an eye.

A trader, a successful trader will weather the storm. They take the hits, understand them and still move forward. These very few understand that there are great times, and there are not so great times. They understand that trading is risk and riskless trading doesnt exist. All strategies have limitations and therefore all strategies will reach points where they dont work aswell as they were. Traders know this and they can adapt. Longevity is one of the keystones of trading. The longevity to be in the game for the years to decades will mean perservering through the hard times to come out the end and go again. Successful traders can still BLOWUP, but they get back on there feet. They can be part of the 5% crowd, loss all and start again. The 95% crowd doesnt achieve the above because they cannot accept it. Some look to blame. They blame the markets for not doing what it should have done, they blame a thread starter for starting something that didnt work for THEM, they blame everyone and everything without understanding what they did. Because of the emotional pain and not being able to rationally digest it they walk away to a full time job that earns them there EXPECTED pay packet every week.

I do not claim to be an uber successful trader, I do however understand everything I have written. I have been in this game for 4 years now, have placed a good number of trades, come close to blowing an account and then rebuilt it. I too at my early stages limbo'd from method to method before the spark went off in my head that what I was doing was causing the backwardness in my trading. At that point I stopped myself. I started taking a more Proactive approach to not only trading, but to understanding why I want to trade and how I could further that understanding. Ive had the AH HA moments in the shorter past that has made me a better individual trader.

I am disapointed, but not at all suprised by what happens in these forums. I am glad to see that there are still many out there who are prepared to take the time to learn, understand and implement an idea to see if it is possibly credible and then start giving feedback. To the others, go on doing what you do best and provide the liquidity for those who are prepared to take the time to trade.

There may be a few responses to this post and I may read them but I doubt I will take any action because the ones who respond to it in there manner will obviously taken it personally which seems to be a fundamental flaw.

Take care

Razor

wow. Great comments

R., open public forum - is not refined environment - always been and will be ton of trash - so what? there is idea ans there is wise or not, stupid or groundless opinions - that's the price of idea and open discussion

RT - I can understand your not wanting to post further on this thread, but why ditch your journal, which imho is one of the best on FF and presumably is helpful to your own trading discipline ?

My 2 pips on this thread is that it certainly has value, but that value is not quite as simple as the OP suggests. Claiming 80% and 99% win rates haven't helped his cause....

I think it was daytrading - always a very insightful poster - who commented recently about seeing what is always there, but what is not seen by almost everyone... (I've misquoted somewhat, but the gist is there)...

Back to trading... :nerd:

Hi Fxxx,

thanks for posting the blank EA , I will try and get it to work.

I have been trying a different approach to the 2 bar reversal on the H1, I am looking at getting 3 or 4 to 1 RR .

I have manually backtested the last 6 months and it looks very good.

cheers
Ian

very nice i tried it and it works
thanks

+ 62 pips for the day. It will work if you work it. Traded in three currencies.

Will try again tomorrow.

Hey Smurf

Nice work and well done. Can I check which pairs you have been working it on ???

Thanks.

I used eur/usd gbp/jpy gbp/usd. I just use rules from 4- 12. Gbp/Jpy i had to change the rules. I know I'm not suppose to, but i did. It works for me. I don't want to be rude but, please don't ask me what i changed because of the people on here will just tell you to follow the rules. I not being rude. Just conservitive.

Hi Fxxx,

I have tried to contact you via PM , but for some reason I cant send any.

Could you please PM me as I have a project you may be interested in.

EDIT. I thought I had found a great method using your 2 bar reversal indicator , But in real time when the price moves into the zone the arrow appears , But if price reverses and the H1 bar closes below the open the arrows are not historically shown . i thought we had found the grail !!!


Thanks
Ian

dear smurf. anyway do you use in other TF? do you mean using this rules on 4-12 GMT?thx

I use 1 hour. 30 min for confimation on a trnd line for wich way to go. Only traded gbp/jpy today. The 7-8 candle My high was158.53 added 10 on entry order for 158.63. I got out at 158.95 for +32. I was done for the day. Im sorry i dont know gmt times. I live in tennesse. And i also use fxcm. I have some studying to do on the times again. I use trade from 4-12 est. sorry dont know gmt.

wow. I'm loving what I see.
will be running with this.
fantastic find..
thanks..
I'll be back after I read the history of this thread and test drive...
jiva...

very nice.
especially appreciate the indicator that allows superimposing a higher time frame candle on 1m chart. neat to see the action within the bigger candle...
Fiddled around a bit with lower time frames, but the 60 m is the best.
just have to be there when the hour changes to find entries. nice simple price based strategy.
traded live after demo-ing for several hours.
ended up breaking even. won some lost some.
not the system's fault, just my newness with using it.
Tomorrow..
wanna back test a bit tonight if I have some time.
Thanks...
not getting the idea of the hama indi though.
any feedback on how to use it appreciated....does illustrate the trend nicely.
is it used as a cutter?
sweet spots are nice, but I find pivot points very significant...
Am I missing something with the use of sweet spots?
Again any feedback on the use of sweet spots, much appreciated.
jiva

Im done with 54 pips for the day.

as all indicators - it's show closed bar signals (result); but with PA we have history - PA itself (lower tf bars) and can see what been happening from open to close
Ian, - sorry, i'm not for the projects right now, i just can stick a few cents briefly- sorry;
but post your ideas (here or in appropriate thread) - if people get interested, - indis, EAs tools would follow (more than you would wish for : )))))

dear smurf. i think you have high winning percentage don't you? anyway for tony i hope you continue writing your journal about using this thread. good job tony

Hy smurf !

Just wanted to tell you that I am really sorry that this thread is not so ... active any more... but you are doing a great job here !
I think, if you can, I would like to here more about your strategy to trade with this system.

I understood that you are working on different pairs and is ok for you.
Can you help me with some advices ?

Thx in advance !
And good luck !

Just had to figure out what works. Today was very long. Thanks goes to the creator of this thread.