Easy entry system: coloured candles

I like to use some sense when it goes flat. We can see now that the 4hr dots are flat e.g something like the last 30 4hr dots have ranged between them about 23 pips and wev'e had a few colour changes.

When i enter on the 15min I look for small SL's which i move quickly to BE

For such scenario, is a plus to use broker with lower spread. I have 3 pips on eur/usd and 4-5 pips on gbp/usd thinking to transfer to oanda.

Mine is 1 for EU, 2 for GU at GKFX (don't recommend them though as their execution is terrible)

Just thought I'd post to show how I approach flat trading....remember it how I approach it.

I look for smaller entry/SL. and as i've mentioned a few times before move to BE pretty quick, about 5-8pips in profit. If you look at EU and GU today you will see the trades that 'fly' tend not to come back after moving 5-8pips.

If there's an entry that's big I don't enter, I wait for a pullback and a small candle to be 'broken'. If that doesn't happen and it 'rockets' then tough, i missed it.

If you go to post 296 you will see I talk about the pullback to the dotted line. in the pic i show some.

The pic is GU, yet the same concepts can be applied to the EU. looking for small candles to enter..about 15 pips max. Infact the EU was the last i entered at 14:30, SL was 15, I bailed with 30 yet it ran 60. I had one other bet (1st yellow one shown on pic) where i lost 3 pips.

Kraven thank you so much for your last post with picture. You just opened my eyes on something I didn't know that I didn't know .

What I thought is that if there is a signal for long for example and you are waiting for a candle break even if you have to wait for 5 candle bars, I thought if there is no break on second candle bar then forget about the trade. And on pullback you opened my eyes. Thank you so much. You mentioned few times about 3 profitable trades in a row when I had a loss and no trade and I thought how were you able to make profit out of those trades. Now the picture is more clearer to me, thank you Kraven ... Im still testing it and when I will be more braver with this system I will be trading 200 lots per pip so I will only hunt for 40 pips a week and rest the rest time ...

I'm glad it struck a chord pipmaker.

And its 19 minutes prior to news, oops...

yes i would have, but all these entries happened so close to 1.5550 area so I'd be extra careful

in your pic first entry is the red candle with green arrow..it went about 8pips so i would be at BE.
next little red candle + green arrow, sl about 9pips it went 9pips so BE

after that my charts abit different to yours, in the last one you circled my my green arrow is on the next candle along which wasn't quite broken.

Hello kraven had time to do 3 trade this week and gain 50pip Last was GU now I exit with 20 but it goes lots more. I can trade more time in July I hope. thx

well done driftwood, looks like you enter the same trade as me. I have just bailed at 1.5647 (near RN). because entry was big i played it like this...next candle retraces slightly before breaking above the entry candle, the retrace of that candle (+ a pip or so) is now my SL. One it goes about 8pips set to BE, as it shoots away it doesn't retrace.

i failed to enter EU signal as i was selling GU (on whim). it was SL of 15 and hit a profit of 15 pips which i would have took, never mind

Thank you Kraven for sharing this system, I stumbled across this thread by accident and i'm glad i did. I'm on holiday next week but when i return i look forward to contributing to this thread.

Happy Trading

Kraven did you mention anywhere in this thread which is the best time to use this system for example London open or US that way we catch few signals, we escape fakeys, we won't have to watch the screen 24 hours non stop. Any ideas?

Im changing my broker to 1 pips spread and will be avoiding ranging periods to be on the safer side.

well the best time to trade is always london open to close as it's the most active. However there is no way to avoid fakey's no mater what system or strategy you use. if you could then you would have the 'holy grail' as you would never loose, you'd be the riches guy on the planet.
You always get traders asking 'how do we avoid losses', the answer is you don't, you accept them. this is why traders move from one system to another and never get anywhere because they can't take a hit.

No probs. have a good holiday

Yes Kraven I agree with you, my point was to escape fakey's as much as possible which means we can change the system or time here and there.

I often see sell signal on one candle and when next candle builds up there is a buy signal even tho it was a break candle. So like I mentioned before, before trading on live account I want to be as much comfortable as possible

again it would be london time, the busiest time, so if you get a signal hopefully high volume will follow. however you'll still get false signals at anytime and the chances are the signal candle/SL will also be bigger at this time.
The art is to take as many as you can (with some trading sense).

Thanks Kraven for sharing your system. I have been following it with interest from when you first posted it. I have been waiting for a ranging period to see what it would do, so thanks for addressing that now that we were in one. It would be great if someone would be able to make an indicator/ adjust the current one to show the long term trend in the same window as the 15M to make backtesting easier. I would like to look more in depth into what to do in ranging periods. Looks like the system performs beautifully in trending markets.

With low spread like Kraven has it's safe with ranging periods but I have 3 pips spread on eur/usd and 2 extra pips makes a big difference. Means I have to move my stop higher 2 pips and when Kraven is at break even I will be in 2 pips loss at least.

Just got 10 pips from AUD/USD trade.

i'm in the GU, 6pip SL, it's went +11 so moved to BE. looks like i'll be hit shortly. my TP 1.5698