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1 min Scalping with Randy Candles Resurrected

  • #181
  • Jan 6, 2011 10:05am Jan 6, 2011 10:05am
Hey Canuck - How you been? This is probably the only Indicator based set-up which I really like! Haven't traded it yet; but seems it should work with both pro & counter trend trading, especially if used with the TMA.

I understand from your first post about the stems. But it would be great of you can at any point expand on those a little more. I am curious as to how their length, open&close side bars, and color add to a trading decision. Speaking of color, I see in the original Template these Stems are green or Black - but in your posted chart they are all one color?

Thanks,


Quoting CanuckCT
From time to time when I head into a sideways move I flip to my RC template. Sitting here at +20 and eyeing the low of the day.
Cheers
CanuckCT

Attachment
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #182
  • Jan 7, 2011 11:21am Jan 7, 2011 11:21am
Hi Teemo..great and hope you are well also. Trading full time now....so far so good.

As far as the the color of the stems, I pay less attention to that....and more to the size and position of the RC candle. I do have 4 different RC templates...some have the original templates with the different colors....the one I'm using recently does not. I take entry more based on what is happening in the overall market for the pair and related pairs...and when I use it, I do for entries only.

I like a small body to the RC candle in a area consolidation or a swing high/low, like this:

Attached Image (click to enlarge)
Click to Enlarge Name: 2011-01-07_1314.png Size: 30 KB


Cheers
CanuckCT

Quoting teemo
Hey Canuck - How you been? This is probably the only Indicator based set-up which I really like! Haven't traded it yet; but seems it should work with both pro & counter trend trading, especially if used with the TMA.

I understand from your first post about the stems. But it would be great of you can at any point expand on those a little more. I am curious as to how their length, open&close side bars, and color add to a trading decision. Speaking of color, I see in the original Template these Stems are green or Black - but in your posted chart they...
  • #183
  • Jan 7, 2011 12:08pm Jan 7, 2011 12:08pm
As always a helpful reply Canuck - Cheers my Friend! May I push it for another one please: Does the Entry candle have to immediately follow the Alert candle? In other words, if price is overall trading near a top and an Alert candle is followed by a whatever candle or two .... and then followed by an entry candle, would this still be a valid signal, or do you prefer to see Alert & Entry candles following each other?
Thanks and Have a Great Weekend!
t
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #184
  • Jan 7, 2011 12:21pm Jan 7, 2011 12:21pm
Good question....I don't necessarily think the entry candle has to be the next candle...but it often is. I would think as soon after the alert is better...otherwise it's likely signaling a range and not a turn. My two cents.
Cheers
CanuckCT

Quoting teemo
As always a helpful reply Canuck - Cheers my Friend! May I push it for another one please: Does the Entry candle have to immediately follow the Alert candle? In other words, if price is overall trading near a top and an Alert candle is followed by a whatever candle or two .... and then followed by an entry candle, would this still be a valid signal, or do you prefer to see Alert & Entry candles following each other?
Thanks and Have a Great Weekend!
t
  • #185
  • Jan 7, 2011 2:11pm Jan 7, 2011 2:11pm
Canuck, what timeframe and pair was that last chart you posted on?

Cheers for the inspiration. Had a good trading day yesterday, looking forward to making good pips the coming week now.
  • #186
  • Jan 7, 2011 4:38pm Jan 7, 2011 4:38pm
EURJPY. m5
Cheers
CanuckCT

Quoting WilteredFire
Canuck, what timeframe and pair was that last chart you posted on?

Cheers for the inspiration. Had a good trading day yesterday, looking forward to making good pips the coming week now.
  • #187
  • Jan 7, 2011 4:50pm Jan 7, 2011 4:50pm
Quoting CanuckCT
EURJPY. m5
Cheers
CanuckCT
Sweet. Have a great trading week next week bud.
  • #188
  • Jan 8, 2011 8:26am Jan 8, 2011 8:26am
Hello Canuct,

You love that TMA don't you ? Look forward to more threads about it coming up. It's gonna revolutionalize the way people are trading.

Cheers.



Quoting CanuckCT
Hi Teemo..great and hope you are well also. Trading full time now....so far so good.

As far as the the color of the stems, I pay less attention to that....and more to the size and position of the RC candle. I do have 4 different RC templates...some have the original templates with the different colors....the one I'm using recently does not. I take entry more based on what is happening in the overall market for the pair and related pairs...and when I use it, I do for entries only.

I like a small body to the RC candle in a area consolidation or...
  • #189
  • Jan 8, 2011 10:53am Jan 8, 2011 10:53am
i think 1 min chart is so risky. but it will be more safe if its work with 5 and 15 min chart with the same direction
  • #190
  • Feb 10, 2011 11:10am Feb 10, 2011 11:10am
Nice little ride up on EU looking for the ride back down
Attached Image (click to enlarge)
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  • #191
  • Feb 11, 2011 1:17pm Feb 11, 2011 1:17pm
another ride down then up

Bought in at the red arrow down watched it break through the d line (yellow 25 sma) then took the reversal blue arrow up closed position just before D line....then took another buy once it broke through D line riding it out for a while . Will close soon as candle start to get smaller End of week action dying down ... but it could ride the pink line up for awhile will keep moving TS up as it goes in profit now so just gravy
Attached Image (click to enlarge)
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  • #192
  • Feb 14, 2011 9:39am Feb 14, 2011 9:39am
+16 +10
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  • #193
  • Edited 7:43am Feb 15, 2011 7:13am | Edited 7:43am
EU+22 placed a buy stop just below the D line - Yellow 25 sma and sold at 61 on the fib which was right at the 200sma blue waiting to see if breaks through this is at NY open

UPDATE Just played the news with a tight SL and lost 8 pips FFFFFFFFFFFF
Attached Image (click to enlarge)
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  • #194
  • Feb 15, 2011 7:58am Feb 15, 2011 7:58am
Grabbed a buy after mistake of news rode it to just below the red support line I drew at 13548 now the D25 and the sma 3 are dancing I wil wait for the next dance
Attached Image (click to enlarge)
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  • #195
  • Feb 15, 2011 12:35pm Feb 15, 2011 12:35pm
Been in no mans land last few hours 25 3 and 200 sma all real close to each other could maybe only make 5-10 pips here or there not worth the risk

London open . . . NY open best times for this

London just closed wait for another day

I also watch dollar index and it is in a range too
http://www.forexpros.com/quotes/us-d...advanced-chart
  • #196
  • Feb 17, 2011 1:22pm Feb 17, 2011 1:22pm
Hi,

Are you still using the Randy candles effectively? I considered myself a trend/position trader for my short trading crareer but have been getting interested in the short timeframes lately. Would love to get some more info on this strategy.

Thanks
  • #197
  • Feb 17, 2011 4:53pm Feb 17, 2011 4:53pm
read the 1st few pages and any links to goldenequety (randy)

I always come back to the candles I learn more on other systems and it helps me here. Like right now I use a sl of 7-10 pips so If I made a bad entry I don't get killed to bad. Also I concentrate on EU right now. It has preditable (somewhat) patterns that I can follow. I also try to place the market opens. That is when a bunch of new money comes into the market and makes it move one way or another. There is pretty much a 100 pip move everyday sometimes more you just need to see it. If you can catch that your R:R is huge like 20 30 50 to 7. If your win percentage is like 55% you will do very well.. I try to follow anything Gleneagles says Cloggie and Niiceguy cgrey not to mention a host of others
hope this helps
  • #198
  • Feb 18, 2011 8:48am Feb 18, 2011 8:48am
EU +31 +12 nice ride up caught some going down still have 1/3 position open on sell 3 sma is hitting against 25 sma (yellow) let's see if it can break through

I like to open a trade and scale it out 50% 12tp 30% 18TP 20%999 with TS of 8 my SL is 10

R:R on these trades 3:1 1.2:1 not bad
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 32 KB
  • #199
  • May 10, 2011 12:15pm May 10, 2011 12:15pm
SOMETHING DIFFERENT

Heiken ash smooth MTF set at 15 on a 5 TF
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Attached File(s)
File Type: mq4 Heiken_Ashi_SmoothedLHm_mtf.mq4   6 KB | 450 downloads
  • #200
  • Jun 20, 2018 11:14pm Jun 20, 2018 11:14pm
This RC setup just works for helping to time entries and exits.

My setup - 1M and 5M RC with 1M, 5M and H for EURJPY. I have included the 1 minutes to see my entries. Far for perfect execution, but lots of positive pips.

Cheers
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