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NEW Candles Formation Trading -Petar Formation

  • #181
  • Aug 18, 2010 9:15am Aug 18, 2010 9:15am
Quoting pet
Is this more like it in M15 sell setup?? maybe should close previous buy trade..
That is good setup Congratulation
"Buy on fear, sell on greed !!!
  • #182
  • Aug 18, 2010 9:17am Aug 18, 2010 9:17am
Do not want to mess this thread with Eas, but i've made one for myself because this pattern is easy to program (some discretion is only about weak leading bar). I like to trade daily naked charts and have 7 fully automated systems that works with good success. From my experiance EURUSD is the best pair for automated naked trading so I test every new idea on EURUSD daily chart.

This pattern shows 47-48% of profitable trades with 1:1 RRR from 2000 till now on EURUSD daily. In my test leading bar is concidered as weak one if it has shadow more then 50% of body or it closes in top half of bar(for buy setup) or bottom half of bar(for sell setup).

So to trade this pattern profitable we have to make some descrition or this will be just another 50/50 setup.
  • #183
  • Aug 18, 2010 9:24am Aug 18, 2010 9:24am
Quoting Dezil
Do not want to mess this thread with Eas, but i've made one for myself because this pattern is easy to program (some discretion is only about weak leading bar). I like to trade daily naked charts and have 7 fully automated systems that works with good success. From my experiance EURUSD is the best pair for automated naked trading so I test every new idea on EURUSD daily chart.

This pattern shows 47-48% of profitable trades with 1:1 RRR from 2000 till now on EURUSD daily. In my test leading bar is concidered as weak one if it has shadow more...

That is why you have relative 50 50 Results,becouse we dont need 50 % of body from leading candle,this formation is very hard to program becouse we can have 1 pip weak on high of leading that will also be setup
"Buy on fear, sell on greed !!!
  • #184
  • Aug 18, 2010 9:26am Aug 18, 2010 9:26am
another sell setup H1
Attached Image (click to enlarge)
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  • #185
  • Aug 18, 2010 9:32am Aug 18, 2010 9:32am
Quoting Dezil
Do not want to mess this thread with Eas, but i've made one for myself because this pattern is easy to program (some discretion is only about weak leading bar). I like to trade daily naked charts and have 7 fully automated systems that works with good success. From my experiance EURUSD is the best pair for automated naked trading so I test every new idea on EURUSD daily chart.

This pattern shows 47-48% of profitable trades with 1:1 RRR from 2000 till now on EURUSD daily. In my test leading bar is concidered as weak one if it has shadow...



A random coin toss will do the same thing, actually better unless you were accounting for the spread.

If discretion might make it profitable, why not toss a coin and use the same discretion?

Why even bother with the pattern?
  • #186
  • Aug 18, 2010 9:34am Aug 18, 2010 9:34am
Quoting Dezil
Do not want to mess this thread with Eas, but i've made one for myself because this pattern is easy to program (some discretion is only about weak leading bar). I like to trade daily naked charts and have 7 fully automated systems that works with good success. From my experiance EURUSD is the best pair for automated naked trading so I test every new idea on EURUSD daily chart.

This pattern shows 47-48% of profitable trades with 1:1 RRR from 2000 till now on EURUSD daily. In my test leading bar is concidered as weak one if it has shadow more...
Also dont forget,

You tested wrong and you tested just 1:1 RRR...IN my trading history this formation bring me about 75-80 % win ratio also that is just on 2 pairs and 2 diferent TF this is formation and isnt System.Just practice and you will see results...
"Buy on fear, sell on greed !!!
  • #187
  • Aug 18, 2010 9:36am Aug 18, 2010 9:36am
Quoting Petar_Serbia
That is why you have relative 50 50 Results,becouse we dont need 50 % of body from leading candle,this formation is very hard to program becouse we can have 1 pip weak on high of leading that will also be setup
I optimised leading candle - EA checked many, many combinations of how leading candle may look.
I do not believe than one single candle can not be programmed to check is it weak or not. If you take into consideration supports/ resistance levels to prove candle as weak one - that is another question, but if we talk about one candle it surely can be recognized by computer - that is my opinion and experiance
  • #188
  • Aug 18, 2010 9:40am Aug 18, 2010 9:40am
Let me show you THis year trades >

You have manged how you want also you mustnt go for 1:1 RRR you can go for more wiht Fibs or SUp-Res zone...You must practice this to see power,again this is pattern and its very usefull alone and is usefull with Fibs,Sup-Res zones...



Look setups i think more than 50 % Also if you know to take more pips and to menage your trade it can be ulta high percente of winning trades...
Attached Image (click to enlarge)
Click to Enlarge Name: thisyear.gif Size: 12 KB
"Buy on fear, sell on greed !!!
  • #189
  • Aug 18, 2010 10:08am Aug 18, 2010 10:08am
Quoting Dezil
I optimised leading candle - EA checked many, many combinations of how leading candle may look.
I do not believe than one single candle can not be programmed to check is it weak or not. If you take into consideration supports/ resistance levels to prove candle as weak one - that is another question, but if we talk about one candle it surely can be recognized by computer - that is my opinion and experiance
My friend just work manuly and try to catch good setups that is all you need,don think about EAs or something like that
"Buy on fear, sell on greed !!!
  • #190
  • Aug 18, 2010 10:11am Aug 18, 2010 10:11am
After 100 pips plus on GBPCHF we weill maybe got another good setup from SUP-Res zone we shall see






Petar
Attached Image (click to enlarge)
Click to Enlarge Name: increation.gif Size: 17 KB
"Buy on fear, sell on greed !!!
  • #191
  • Aug 18, 2010 10:14am Aug 18, 2010 10:14am
This is a file where everyone who want to discuss this setup can find trades which were taken by EA on EURUSD daily in 2010. So we can talk about what trades was wrong and why
Attached File(s)
File Type: xls 2010trades.xls   22 KB | 377 downloads
  • #192
  • Aug 18, 2010 10:18am Aug 18, 2010 10:18am
Quoting Dezil
I optimised leading candle - EA checked many, many combinations of how leading candle may look.
I do not believe than one single candle can not be programmed to check is it weak or not. If you take into consideration supports/ resistance levels to prove candle as weak one - that is another question, but if we talk about one candle it surely can be recognized by computer - that is my opinion and experiance
Also where you put your SL ? this isnt system my friend this is formation,our person decision is where we put SL also how we want to menage trade,i love to falaow becouse every plus is GOOD,remember that...That is why you cant test this with robot and your SL becouse this isnt system


My advice ,

Practice this and you will see results,if you work smaller frames pick some pips and close trade if you work larger,menage your trade and thats it...Forex is buinsese wich desirve patinace and hard work to earn money...


Petar
"Buy on fear, sell on greed !!!
  • #193
  • Aug 18, 2010 10:18am Aug 18, 2010 10:18am
Quoting Petar_Serbia
GUys i created another picture to undestand matematicly what you looking !!!!





LOOK PICTURE > > > > >
Petar, your rules seem to be changing throughout this thread.
Tell me if I understand you correctly:

1) This is a 3 bar set-up:

The first candle is called candle #1.
The second candle is called the leading candle.
The third candle is called candle #2.

1) According to your rules in your opening post, the BODY of the leading candle must be SMALLER than the BODY of candle #1.

2) The leading candle must have a lower low than candle #1 for longs and a higher high than candle #1 for shorts.

3) The RANGE of the Leading Candle measured from low to close for longs- (opposite for shorts) must be at least 50% of the ENTIRE range of candle #1.

4)If these conditions are met, then you wait for candle #2 to be completed and you enter after the completion of candle #2.

ARE THESE RULES CORRECT?

In the chart above you are NOW comparing the leading candles range from low to close for longs to the range of candle #2.

WHICH RANGE DO YOU COMPARE THE LEADING CANDLE- DO YOU COMPARE IT TO CANDLE #1 OR CANDLE #2?

AND DO YOU WAIT FOR THE COMPLETION OF CANDLE #2 TO ENTER THE TRADE?

Thanks Petar,

Michael
  • #194
  • Aug 18, 2010 10:22am Aug 18, 2010 10:22am
Quoting finally
Petar, your rules seem to be changing throughout this thread.
Tell me if I understand you correctly:

1) This is a 3 bar set-up:

The first candle is called candle #1.
The second candle is called the leading candle.
The third candle is called candle #2.

1) According to your rules in your opening post, the BODY of the leading candle must be SMALLER than the BODY of candle #1.

2) The leading candle must have a lower low than candle #1 for longs and a higher high than candle #1 for shorts.

3) The RANGE of the Leading Candle measured...
Hmm i still undestand how people dont undestand

From post 1 >

Just 3 rules 1. Leading candle must be no larger than candle 1 and 2.That mean Leading candle Lows for sell setup mustn be lower from lows of candle 1 and candle 2 for buy setup oposite.Leading candle Highs musnt be higher than highs from candle 1 and candle 2

2. Leading candle must be larger than 50 % (range between candle 1 or candle 2) of candle 1 or candle 2 . That mean Leading candle lows on sell example cant be lower than 50 % of candle bodies of candle 1 or candle 2.For example Candle 1 have range (Pips between High and Low) 100 pips that mean lows from Leading candle must be minimum 51 pips of range i mentoned.Important thing is we need min 50 % from one no for both or from candle 1 or from candle 2...

Fore better explaniton this rule read post http://www.forexfactory.com/showpost...&postcount=170

3. Leading candle always have for Sell setup Higher High for Buy setup Lowest Low

I said 45453 times for this >

We want 50 % from minimum one candle !!! That mean we can comapre from Candle 1 or from candle 2

That is all !!
"Buy on fear, sell on greed !!!
  • #195
  • Aug 18, 2010 10:26am Aug 18, 2010 10:26am
Quoting finally
Petar, your rules seem to be changing throughout this thread.
Tell me if I understand you correctly:

1) This is a 3 bar set-up:

The first candle is called candle #1.
The second candle is called the leading candle.
The third candle is called candle #2.

1) According to your rules in your opening post, the BODY of the leading candle must be SMALLER than the BODY of candle #1.

2) The leading candle must have a lower low than candle #1 for longs and a higher high than candle #1 for shorts.

3) The RANGE of the Leading Candle measured...
Yes i wait to complete candle 2 or if i see candle will close soon i take erlier...
"Buy on fear, sell on greed !!!
  • #196
  • Aug 18, 2010 10:45am Aug 18, 2010 10:45am
both entries on 15m and H1 setup performed already more R:R1:1, adjusted SL, price currently around support, finger on trigger once trade cannot be maintained.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nzd15mmm.gif Size: 27 KB
  • #197
  • Aug 18, 2010 10:47am Aug 18, 2010 10:47am
Guys i cant do this alone


I mis 2 setups on AUDUSD H4


WE must together watch pairs i dont have 5 hands

This is good setups >

Good sup res zone and our confirmation




Simple trades >
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4.gif Size: 12 KB
"Buy on fear, sell on greed !!!
  • #198
  • Aug 18, 2010 10:52am Aug 18, 2010 10:52am
Quoting pet
both entries on 15m and H1 setup performed already more R:R1:1, adjusted SL, price currently around support, finger on trigger once trade cannot be maintained.
Very Well Pet

Good spot on smaller frame

If you can see my formation is reverse point on 15 M



Green pips
"Buy on fear, sell on greed !!!
  • #199
  • Aug 18, 2010 10:55am Aug 18, 2010 10:55am
Dezil ,
What are you MM in EA?
  • #200
  • Aug 18, 2010 11:01am Aug 18, 2010 11:01am
Quoting pet
both entries on 15m and H1 setup performed already more R:R1:1, adjusted SL, price currently around support, finger on trigger once trade cannot be maintained.
Pet,

Dont forget Buy on Daily,now we will go for Daily profit
"Buy on fear, sell on greed !!!
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