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Tony's Two Candle trading system

  • #341
  • Jun 10, 2010 6:24pm Jun 10, 2010 6:24pm
Quoting kraven
Just switched back on and had the E/J set up on the 1hr. Blue arrow under bar. Who'd have allowed +23pips then it crashed to a max loss of -50pips next candle (now) is coming down too.
The arrows may give a different perfect-no loss impression when you open the chart and apply, but live may be different. be cautious.

Time to call it a day +130pips. Will look into the EJ 1hr more tomorrow (all though Fridays are dodgey). Happy pips all.
Kraven,
What set up are you using? The 1 hour arrows?

thanks
  • #342
  • Jun 10, 2010 9:34pm Jun 10, 2010 9:34pm
Quoting masterpiecefx
I second that.

From my experience, the best filter is the one that does not lag. Everything you put on your chart (adx, stochs, ma's, etc.) depends on the price itself, so how can it serve as a filter? So, what does not lag then? The price itself, nothing else. So, a good filter would be another timeframe, and only higher timeframe. You only look at lower timeframes to time your entry, and you look at higher timeframes to filter your set up. .
Confirmed that masterpiecefx... Actually I use this screen setup below for Live account... Take a look the white circle...

Does it interest You? The mini chart will save your space from having multiple window or switch TF back and forth....

Going south... baby.... just a bit more...

Attached Image (click to enlarge)
Click to Enlarge Name: 2Candle-with-EU_3.jpg Size: 113 KB
  • #343
  • Jun 11, 2010 2:41am Jun 11, 2010 2:41am
Yes terminex it's the 1hr

Niceguy can you post the "multi-chart" indi please.

I'm going to throw something in from another thread from FF as I'm having a fair bit of success mixing the two threads together. Same principle as here,

Any pair?? (i use G/U mainly)
1hr chart

5mins or so before the bar closes just take a look, get the feel of is the bar going more up or down.

At the close of the bar check the bull/bear helper (green up/white down).

if it's green and the last chart bar was up (important!!) then wait for new bar to move up 5pips and buy. If you've been watching the bar 5mins before and you see it moving up it often leads to a better trade and fills you with more confidence of a quick entry.

If the bull/bear helper is green and the last bar was red. No trade

For a sell. If the last bar was down and the bullbear is white, wait for new bar to move 5pips down and enter.

you can get more info on the bull bear strength by going into indi's opening the bull indi, open the bear indi (standard on metatrader)then opening the data window. This will give you a precise bulls to bears number. Hope this is clear as it works well when you get the hang of it.

SL 15
TG that's up to you, i go for 15 but if the price keeps going up i'll stay in. If the price has moved up a lot through the day I'll not stop long.

hope this makes sense
Attached File(s)
File Type: ex4 Bull Bear Helper.ex4   3 KB | 866 downloads
File Type: mq4 Bull Bear Helper.mq4   3 KB | 1,064 downloads
  • #344
  • Jun 11, 2010 2:49am Jun 11, 2010 2:49am
Quoting kraven
Yes terminex it's the 1hr

Niceguy can you post the "multi-chart" indi please.

I'm going to throw something in from another thread from FF as I'm having a fair bit of success mixing the two threads together. Same principle as here,

Any pair?? (i use G/U mainly)
1hr chart

5mins or so before the bar closes just take a look, get the feel of is the bar going more up or down.

At the close of the bar check the bull/bear helper (green up/white down).

if it's green and the last chart bar was up (important!!) then wait for new...
That's stratmens minichart indicator. I don't have it, but just search for it.
  • #345
  • Jun 11, 2010 2:51am Jun 11, 2010 2:51am
Quoting kraven
Yes terminex it's the 1hr

Niceguy can you post the "multi-chart" indi please.

I'm going to throw something in from another thread from FF as I'm having a fair bit of success mixing the two threads together. Same principle as here,

Any pair?? (i use G/U mainly)
1hr chart

5mins or so before the bar closes just take a look, get the feel of is the bar going more up or down.

At the close of the bar check the bull/bear helper (green up/white down).

if it's green and the last chart bar was up (important!!) then wait for...
Kraven,
Could you post a pic?
Been watching charts too long today and the brain is fried.
thanks.
  • #346
  • Jun 11, 2010 3:18am Jun 11, 2010 3:18am
Ok

The chart realy isn't much good as you will see a green bar followed by a red- but you need to see how high this bar went bfore it turned back as that's your profit.

You'll see the bull bear help is green all the way

the bars with the tick are our first signal bar. If these a green (up) and the bull bear is Green (up) we buy the next bar (one's with the arrow) wait for it to go up 5pips (ish) before buying. that's it.
Attached Image (click to enlarge)
Click to Enlarge Name: bull bear twin bars.gif Size: 34 KB
  • #347
  • Edited 4:09am Jun 11, 2010 4:02am | Edited 4:09am
bit choppy on the short term at the moment but using the above strat. I've sold at 4660 gbp/usd

Now i've put this one up live it'll not win,
  • #348
  • Jun 11, 2010 4:07am Jun 11, 2010 4:07am
Quoting kraven
bit choppy on the short term at the moment but using the above strat. I've sold at 4660 gbp/usd
Thanks for the pic.

I'm just doing the Jap at the moment on the 1 hour chart as per the original rules.
I'll monitor this next week.
  • #349
  • Jun 11, 2010 4:12am Jun 11, 2010 4:12am
gonna bail out early on this one at -8pips just didn't feel right. smaller time frames up and down. Plus the signal bar was retracing up when it closed. I like to see it going down so when the entry bar opens it's got some momentum.
  • #350
  • Jun 11, 2010 4:19am Jun 11, 2010 4:19am
Quoting kraven
gonna bail out early on this one at -8pips just didn't feel right. smaller time frames up and down. Plus the signal bar was retracing up when it closed. I like to see it going down so when the entry bar opens it's got some momentum.
No offense, but your entry is absolutely wrong, you entered after 2 constructive red bars. which is a no trade as per original rule.

Edit: The real entry was last hour.
  • #351
  • Jun 11, 2010 5:38am Jun 11, 2010 5:38am
Quoting Nimrod
This system reminds me of the Rumpled One.Concentrate on the hour candle and focused on psychological level.

Also a bit like FollowTheLeader? http://www.forexfactory.com/showthread.php?t=189552
  • #352
  • Jun 11, 2010 5:51am Jun 11, 2010 5:51am
No probs Baazz but i did say that this wasn't this system but a combination of 2. here's the other thread

http://www.forexfactory.com/showthread.php?t=239951

I entered because of new bull bear direction.

iamnoel never seen that one before, i may look later.

My problem is i often use a short SL of 15 when it was previously recommended (on different thread) to use the signal bars open. In that case the bet would +30 now
  • #353
  • Jun 11, 2010 9:01am Jun 11, 2010 9:01am
Hey Kraven, you can have the mini chart from here:
http://www.forexfactory.com/showthread.php?t=127271

It's part of the THV system...

Btw... Is the blue line on your chart is the "alf" ?
No offense to this strategy but If I were you, I will trade with that line alone instead...

The Euro seems a bit strange tonight.. unusual move...
  • #354
  • Jun 11, 2010 9:36am Jun 11, 2010 9:36am
NiceGuy, that indicator for mtf looks so cool, would love to have it, could you post it please? Thanks.

ps. oh, sorry, you've already posted the link above, didn't see it. never mind. thnx again.
Trax Tibidax Tibidox...
  • #355
  • Jun 11, 2010 5:41pm Jun 11, 2010 5:41pm
yes it is alf line.

thanks niceguy for indi link.
  • #356
  • Jun 11, 2010 7:03pm Jun 11, 2010 7:03pm
Quoting Baazz
No offense, but your entry is absolutely wrong, you entered after 2 constructive red bars. which is a no trade as per original rule.

Edit: The real entry was last hour.
Where is that mentioned in the original rules?
  • #357
  • Jun 12, 2010 8:12pm Jun 12, 2010 8:12pm
Quoting terminex
Where is that mentioned in the original rules?
Please read the first post of this thread one more time...

http://www.forexfactory.com/showpost...08&postcount=1
  • #358
  • Jun 12, 2010 8:18pm Jun 12, 2010 8:18pm
Quoting Baazz
Please read the first post of this thread one more time...

http://www.forexfactory.com/showpost...08&postcount=1
I did. Does not say anything about not entering after 2 consecutive bars.
  • #359
  • Jun 12, 2010 9:19pm Jun 12, 2010 9:19pm
Quoting NiceGuy
Hey Kraven, you can have the mini chart from here:
http://www.forexfactory.com/showthread.php?t=127271

It's part of the THV system...

Btw... Is the blue line on your chart is the "alf" ?
No offense to this strategy but If I were you, I will trade with that line alone instead...

The Euro seems a bit strange tonight.. unusual move...

We download the file v4.zip on the first post right?

Thanks!
  • #360
  • Jun 13, 2010 8:58am Jun 13, 2010 8:58am
Well once again a simple profitable clearly stated system turns into a convoluted improved to death mess....... congratulations whiz kids.
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