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The System II (Yes with irony)

  • #5,801
  • Sep 16, 2009 9:30am Sep 16, 2009 9:30am
Quoting deano1292
Yes FX, a North American Indian chap first alerted me to this high probability of the 8th candle to be long. In this instance the 8th candle went red then turned that is when I went long, didn't stay long, out at 4665 although went a bit higher.

Hope this helps in the future, worked again this time for me..
ok.. i was just wondering..
Thanks.
  • #5,802
  • Sep 16, 2009 9:55am Sep 16, 2009 9:55am
I'm long 4669


Edit: out for 20 pips.
Failure is the mother of success: learn from 'her'
  • #5,803
  • Sep 16, 2009 9:56am Sep 16, 2009 9:56am
I wanna test this FCR once the way is clear from news and hopefully from big fishes manipulation......

I've took the first one due to it is 13 pips from the major one.....

Let's see....
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  • #5,804
  • Sep 16, 2009 10:00am Sep 16, 2009 10:00am
Quoting deano1292
Hey guys, thanks to all for this great thread.
Not trying to change the focus on this thread but over the years trading stocks, the 7 down candle theory then snipe long on the following candle has been very successful for me over the years, just banked banked 10 pips..

GLTA

Hmmmm. Haven't conducted a scientific analysis on this one - but I've found a few examples of eight bear candles, nine, eleven and a couple of sevens. Would be nice if it was true though....but I'm respectfully skeptical.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,805
  • Sep 16, 2009 10:02am Sep 16, 2009 10:02am
Quoting mac1956
Hmmmm. Haven't conducted a scientific analysis on this one - but I've found a few examples of eight bear candles, nine, eleven and a couple of sevens. Would be nice if it was true though....but I'm respectfully skeptical.
That eight candle thing sounds sketchy to me, somewhat wishful thinking?
  • #5,806
  • Sep 16, 2009 10:22am Sep 16, 2009 10:22am
Well now we will have fuel to talk about for awhile on this 8 candle set up
I make money anywhere in the world by taking orders
  • #5,807
  • Sep 16, 2009 10:25am Sep 16, 2009 10:25am
Quoting Ogna
That eight candle thing sounds sketchy to me, somewhat wishful thinking?
No more wishful thinking than playing a TL break or a break from a S/R break.
Just another "tool" to keep in mind.

Just a few minutes ago, did a 7 candle green break on USD/JPY.
Life is a gamble just as Forex is, no guarantee in either
  • #5,808
  • Sep 16, 2009 10:37am Sep 16, 2009 10:37am
Playing #1 now....
  • #5,809
  • Sep 16, 2009 10:56am Sep 16, 2009 10:56am
For all those people in here that cant trade london, do any of you trade tokyo?? I am interested in trying it out if anyone wants to, I will be posting around tokyo open today to test it out with this system !

cya
  • #5,810
  • Sep 16, 2009 11:17am Sep 16, 2009 11:17am
I've close it out @ + 46 pips,

Before reaching the yearly maximun @ 4718....

Nice runner
  • #5,811
  • Sep 16, 2009 11:21am Sep 16, 2009 11:21am
Next top from an historical point of view, would be @ 1.4865, all the way from September 08, a year ago...
  • #5,812
  • Sep 16, 2009 11:34am Sep 16, 2009 11:34am
Quoting jplo
I've close it out @ + 46 pips,

Before reaching the yearly maximun @ 4718....

Nice runner

Awesome piece of trading JPlo.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #5,813
  • Sep 16, 2009 11:39am Sep 16, 2009 11:39am
Banked 14 pips
  • #5,814
  • Sep 16, 2009 11:39am Sep 16, 2009 11:39am
Quoting mac1956
Awesome piece of trading JPlo.
I'm only following the System II rules, Mac...
Trying to avoid mistakes step by step, buddy.....
  • #5,815
  • Sep 16, 2009 11:40am Sep 16, 2009 11:40am
ok.. this is much better.. just came back and saw my 30pips tp was hit.. if it wasn't for my girlfriend forcing me to go so shoping with here I would have made more.. still greatful.. anything you can get out of this miserbull day before this runner..

but now you see how you can benefit from waiting for the dust to settle and trade in a more logical and settled market.. two days inrow this has worked.. simple patience will do a virtues..
  • #5,816
  • Sep 16, 2009 11:45am Sep 16, 2009 11:45am
Quoting SedonaPipper
Well now we will have fuel to talk about for awhile on this 8 candle set up
Japanese candlesticks book talks about 10 -11 bars.

Demark introduced bunch of indicators.
9 bars when each bar lower/higher than 4th previous.
13 bars when each bar lower/higher than 2nd previous.

TD-Sequential, TD-Combo.

But it is much better to train naked eye.
  • #5,817
  • Sep 16, 2009 11:46am Sep 16, 2009 11:46am
Quoting deano1292
Banked 14 pips

ok deano my man,
your system is good for a new thread that i be more than glad to see open.. I just wanted to know if its a high probability trade..
your system is totaly irrelevent to what we do here..
so please no more 7th candel stuff.. thank you.
i say this with utmost respect..

best regards,
  • #5,818
  • Sep 16, 2009 11:50am Sep 16, 2009 11:50am
Quoting jplo
I've close it out @ + 46 pips,

Before reaching the yearly maximun @ 4718....

Nice runner
nice job jplo.. i would have done the same thing.. as matter of fact i even wanted to set my tp right at that resistant.. but decided to be safe and put a bit lower since i was'nt gonna be around to babysit it..
glad to see you making such nice progress.
  • #5,819
  • Sep 16, 2009 11:50am Sep 16, 2009 11:50am
Quoting fxachilies
ok.. this is much better.. just came back and saw my 30pips tp was hit.. if it wasn't for my girlfriend forcing me to go so shoping with here I would have made more.. still greatful.. anything you can get out of this miserbull day before this runner..

but now you see how you can benefit from waiting for the dust to settle and trade in a more logical and settled market.. two days inrow this has worked.. simple patience will do a virtues..
30 pips while you were shopping..... is a godsend!!!
No in many more jobs you can make loads of money while you are shoping...
You have been able to buy a lot of D&G, GUCCI, PRADA, stuff......for free.... only with those...
  • #5,820
  • Sep 16, 2009 12:02pm Sep 16, 2009 12:02pm
and short now..

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