Easy entry system: coloured candles

You wrote that you use stop loss the bottom of signal candle for buy and for sell the top of signal candle is that correct?

Please explain the signals that appeared on the chart below. Thanks.

hopefully the pic will show you how I seen it today. I just looking at the day as a hole. the white lines are where I'd place SL, as I've said many times 'above the arrow if applicable'. the yellow lines are entry, about 1pip below our signal candle.
Now the blue arrows are our entries...sometimes there are entries after these, BUT if you got in the first entry you'd still be in the bet. the numbers are max TP's.

......so if you just look for a set number when taking TP (of about 20-25pips) you'd still be up 50. ASSUMING you were up for all the entries....if you took them from 8am GMT, you'd be fine to.

You are a good teacher Kraven with a lot of patience. Thank you.

no problem Pip M.

The main thing is I have monitored this live (or as live as i could) over the past 5 weeks and it has performed amazingly...Yes we have been in a 'trend market', but thats the point of the system to catch and keep you in the trend....yes we have had some losses, but we have had 4x the wins and it has kept us out of a few false signals too.

Can you please suggest more ways to stay longer in the trade or to regulate our TP.

Do you use S/R, fibs, stochs, RSI or anything to help with the TP? I can go with 10 pips from every trade but what if I will have some losses and it won't be very good in a long run.

i look for recent lows or RN's.

when the market moves as much as it has you have to go to middle of last year to see when it was there last on EU. I look at day chart and see if we have any confluence, basicaly the high,low, open or close of daily candles...around 1.2467 stands out to me, so 2460-70.

Kraven, this method is so close to the grail. i realise if i am to take all trade signals, i win a lot more than i loose. the indicators truely do not repaint and this makes backtesting a bit more reliable. I am building up my faith and courage.

Pls. Kraven, assuming we have 20 entry signals and the smart money boys decide to manupulate the market and plant about 6 bad trades. how do we get out of such trades. Personally it think placing a sizable SL should take care of that. Now what SL from all our studies would u say is appropriate.

Again there are periods when the market seems to be consolidating in the 4h and that reflects in the 15, especially when there is abt to be an general trend reversal in the 4hr. how do we get out of bad trades.

Thanks

[quote=Roofx;5647769]This system will not work on the long term, guys. I'm just letting you know. It's similar to my old PArbolic SAR and also the BBStop system. Like most indicator systems, this will look great in trends and then wipe you out in the ranges. Forget it and move on. Trust me.[/quote

You may be right, but can you explain how it will wipe you out in ranging markets??? The rules are pretty clear. you should be able to determine the general trend from your 4hr. then you take entries in the 15min. Occasionally when the consolidations start, you will have less confirmed entries and the few that turn out bad trades, u have your SL to take care of. Besides, the wins by far over shadow the loss and my aim is to maximize my wins and minimize my loss.

This system in my demo gives me over 100 pips a day,
Waiting to go live soon, Great Systems!!!!
Thanks!!!!!

Albertdkpllh it's simple...you take the losses. it's all part of trading.

you can use common sense though..for example the last entry the market had moved 60pips already before we get an entry, that's to much. A lot of 15min swings are around 50-80 before it comes back..see pic.

Kraven
thankyou for your genorosity with this thread.I am a newbie and trying to put the indis on my MT4 I have them downloaded on my desktop but everytime I try to put the indis on it tells me I need authorisation for this to happen would somebody clarify what I need to do. Thanks.

khidir I don't know. Is it your Windows operating system asking for Admin permission??
Have you got the most upto date MT4?? If not read the threads first few pages to see how you update

Kraven it is asking for Admin permission and the mt4 has been updated.

Thanks

Kraven I thought it was to do with the indicators themselves but I have just realised that it has to do with the my computer set up.Thankyou anyway.I am following this thread and hopefully soon I will be able to test it.Is it still working well for you ???? Thanks James

yes. very well......the GU and EU both had signals today and both are still running at profits. I did not take either though as the moves were quite big before a clear signal had been given (similar to the pic in my last post)

This is a great system - have been following it from beginning and have put it into practice now with very good success - just as you have explained it.

I am in New Zealand and see you are currently live on FF so you must be close to me. Plus you have said you trade Asian Session as I do - If one is careful you can do quite well in this session on 15m TF.

Cheers and thanks for your ongoing help in this forum.

Larney

tried 2 entries today. first a 15pip loss (went +11 should have moved to BE at that time). second closed for +47

Hi all,

Been busy in real life and playing with EAs from other areas of FF, but back to this system again now!

Here's some trades I missed today because of work

Could have been a great day!

Regards
Ath

Just for compare the pic with mine, and no other purpose: :-)

http://i600.photobucket.com/albums/t...urcandles3.gif

http://i600.photobucket.com/albums/t...9Mei2012-2.jpg

Once again 2 good trades..GU sl was 25 for me, bailed at +50 (still going down) EU sl was 28, price is bouncing around 1.2400 area so bailed +45

Roels a few less arrows then me, don't know why. Are you not using the coloured candles?

for such a good, clear, easy system this thread is very quiet, i'm also pretty busy and will be incorporating this system more into my live trading so I don't think i'll be posting as much in the future.

Hi Kraven

You are right, I personally have been busy with work lately, on my limited demo account its been great, with some practical discretion and MM this I think is excellent, what do the masses want ??

Eltax