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True Trading Tactics

  • #1,001
  • Apr 22, 2012 10:56am Apr 22, 2012 10:56am
Silly me...I put smikester on ignore
Kraven work your magic
You have way more supporters...
than detractors.
  • #1,002
  • Apr 22, 2012 3:48pm Apr 22, 2012 3:48pm
Quoting redbox
still crude EA...
will open position if price break through reversal candle...

i put MinHeight Parameter here, so this EA will not open any order if KRC height is below minimum height.

i tried at USDCAD and the result is almost break even...
do i miss something?
what to do with ADR?

feel free to give suggestion on improvement.
i will try to make it better.
Redbox,
I backtested your EA and looks like it missed a lot good setup. Can you share your source code so that I can look the logic behind?
Follow me to the Promised Land
  • #1,003
  • Apr 22, 2012 6:08pm Apr 22, 2012 6:08pm
Quoting cce
Kraven, has provided several ways to look at PA when it nears potential reversal...
Nothings set in stone on any setup...
If it follows thru, you make profit...
If it fails, you lose...
It's not called a bet for nothing...
To demand a debate over what each setup ended up doing or not doing is a fruitless waste of time and energy...
Better to spend a bit of time trading and make a few bucks...
Then enjoy the extra time you'll have with your family, friends...

Kraven,
Thanks for sharing your thoughts on using this setup on different TF's...
It...
Well said, that man
  • #1,004
  • Apr 22, 2012 9:21pm Apr 22, 2012 9:21pm
Quoting cce
Hey xlitang...
Check out the chart provided by Kraven on post #4...
Look at the PA on 9th of Jan. Very similar to your example...
He demonstrated that based on his criteria it ended as a 25 pip loss...
I'm a bit more aggressive... My SL would have been above high of KRC in that example... So would have been profitable trade...
It all depends on your taste for risk and how much your willing to risk...


Hope this helps...
Cliff
Thanks for the reply. Appreciated.
Follow me to the Promised Land
  • #1,005
  • Apr 23, 2012 6:06am Apr 23, 2012 6:06am
Quoting xlitang
Hi K,

In the attached chart, breakout candle circled in blue is also a reverse candle in the opposite direction. How do you deal with this? Do you close short position and open long?

an idea would be to look at which reverse candle is the stronger. in the chart you highlighted, it is clear the red reverse candle is the stronger. so you stay with the short.
  • #1,006
  • Apr 23, 2012 12:34pm Apr 23, 2012 12:34pm
Quoting xlitang
Hi K,

In the attached chart, breakout candle circled in blue is also a reverse candle in the opposite direction. How do you deal with this? Do you close short position and open long?
hello all.

thanks for the replies. I've said it quite a few times that the candle is just something to look for in conjuction with other things. This is not a strategy on it's own.

in the pic and in an ideal world, i would not have took the 'yellow circled candle'. the up trend has went flat/ranging over the 5 days prior. If anything I would have took the 'blue circled' candle as the market pulls back and trend continues. however this candle wasn't triggered.

now if you decided for what ever reason to take the first candle (sell) then you would have had a successful trade because what you should do when the next candle is complete, seeing it is another reversal candle, is put your SL above it plus a buy entry. As the second candle wasn't triggered the first entry was still good.

Now the candle that interests me is the 5th candle from the yellow circle. Nice downtrend, higher low. would have had to wait a few days to move SL but after that a nice move up with a few re-entries too.
  • #1,007
  • Apr 25, 2012 4:50pm Apr 25, 2012 4:50pm
Quoting lore22
Silly me...I put smikester on ignore
Kraven work your magic
You have way more supporters...
than detractors.
Do you know what is sad about this post? It epitomises the attitude of the majority of gamblers on this site.

Kraven. I am not a detractor. I merely pointed out some discrepancies and some improvements. Here: http://www.forexfactory.com/showthread.php?t=198118

sinner- Now retired, made loads of money from trading. A mate of mine on these threads. And so I made a study of divergent candles. I've seen them described in this thread as "Kraven candles". What am I supposed to think about that? There's nothing new about them except to rookie traders who have never heard of them.

So please? Let's not shoot the messenger? lore?

So keep the thread going. Kraven, keep up the good work, work hard. Good trading to you all.
Gone to a better place
  • #1,008
  • Apr 25, 2012 9:31pm Apr 25, 2012 9:31pm
This is not directed directly to smikester, but to anyone who mentions this again. Please read ALL the thread, you will see I have never claimed to have invented something new, this is merely something I look for and have 'personaly' not see it in any candle recognition thread. I didn't even name it 'Kravens Reversal Candle', I purely called it a reversal candle, someone else on the thread kept calling it that, so I called it the same (KRC) to save confusion.

All will also note that I don't post a lot of charts on here now as I feel I have basicaly accomplished what I wanted, that was to show a simple candle set up that 'might' help others with their trading.
  • #1,009
  • Apr 25, 2012 9:50pm Apr 25, 2012 9:50pm
Quoting smikester
...Now retired, made loads of money from trading. A mate of mine on these threads. And so I made a study of divergent candles. I've seen them described in this thread as "Kraven candles". What am I supposed to think about that? There's nothing new about them except to rookie traders who have never heard of them...
If you know better way of trading, why don't you share your knowledge and skills with rookies. They'll certainly be grateful to you...
To excel by continuous learning
  • #1,010
  • Apr 25, 2012 10:53pm Apr 25, 2012 10:53pm
In Kraven's defense, if you read the first page you will see that he never tried to take credit for anything. He's also stated throughout the thread that the reversed candle shouldn't be relied upon alone. In other words use it in conjuction with other things. Seems to me like something that will work long term if done properly. Lastly, candlesticks and divergences go way back well before all of our lifetimes.
  • #1,011
  • Apr 26, 2012 12:17pm Apr 26, 2012 12:17pm
Quoting smikester
Do you know what is sad about this post? It epitomises the attitude of the majority of gamblers on this site.

Kraven. I am not a detractor. I merely pointed out some discrepancies and some improvements. Here: http://www.forexfactory.com/showthread.php?t=198118

sinner- Now retired, made loads of money from trading. A mate of mine on these threads. And so I made a study of divergent candles. I've seen them described in this thread as "Kraven candles". What am I supposed to think...
..

I suppose?? You’re not wanting to be critical with this statement”What am I supposed to think about that? “Who cares what you call it... Does it work? For some maybe yes... for some maybe no? The point, the “rookies” will eventually realize that there are many names given to all manner of trading concepts/ideas.

As you previously stated “made loads of money from trading “. Please impart your vast wisdom upon us ... I would argue that this would be the most constructive way to get you point across.

Just one traders point of view

TSD
  • #1,012
  • May 23, 2012 4:45pm May 23, 2012 4:45pm
Hi,

Could somebody post the SM indicators in mq4 format? Thanks!


Quoting Erebus
Ah, that makes sense, since I did watch a Webinar or 2 of his, via CompassFX, got another 6 indicators if anyone interested, not sure what they all do...

use at your own risk as they say

  • #1,013
  • May 27, 2012 6:18am May 27, 2012 6:18am
Sorry for my dumb, but did everyone judge a candle as a valid KRC ONLY if the ADR was hit by the KRC itself?

Thankss....
  • #1,014
  • May 28, 2012 6:25am May 28, 2012 6:25am
Hello
TY for this thread. Im a rookie and still learning alot.
I still dont trade live as i am not yet good enough, but this method is helping me raise my confidence.

I have a question, i hope you can help me.

Today on the Eu$ (may 28th) there was a reversal candle on the 4 hr chart to go short.
At the same time there is a near-dead stop (10 am) on the hourly chart to go long.
(im on GMT+1)

This kind of cunfuses me. Would you go with the higher frame (more dominant) move or does this signal "Do Nothing"??

I have enclosed two screen shots.
I hope i was clear enough in the question...

TY !!!
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in wondering about yourself, you forgot what you came here to be part of
  • #1,015
  • Sep 13, 2012 12:33am Sep 13, 2012 12:33am
can we used market open to determine trend flow, and use this tactic?
  • #1,016
  • Oct 8, 2012 11:51am Oct 8, 2012 11:51am
The best tactics is not to brake the money management rule and to disobey all other rules you have read in the theories of how to trade. You will conveniently be profitable.
  • #1,017
  • Feb 13, 2013 11:34pm Feb 13, 2013 11:34pm
Quoting dare123
The best tactics is not to brake the money management rule and to disobey all other rules you have read in the theories of how to trade. You will conveniently be profitable.

  • #1,018
  • Apr 29, 2016 12:52pm Apr 29, 2016 12:52pm
hi anybody knows WSM Viewer 0.4 by Andrew_M , i want it, where can i find that, i have attach screenshot. it's from market maker video serious.
thanks
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  • #1,019
  • Jul 22, 2019 12:43pm Jul 22, 2019 12:43pm
Quoting prasadFX
hi anybody knows WSM Viewer 0.4 by Andrew_M , i want it, where can i find that, i have attach screenshot. it's from market maker video serious. thanks {image}
i am also looking for the WSM Viewer Software Do you have ?
  • #1,020
  • Jul 24, 2019 11:09am Jul 24, 2019 11:09am
Hello everyone,

I have been testing this system for 2 days and the results are good, just following the reversal candle, if it goes to the other side just hedge position, then add to the original buy/sell order and close the trade when breakeven...


Kind regards!
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