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Genuine 5m 4R/R system

  • #301
  • Jun 5, 2014 12:12am Jun 5, 2014 12:12am
Hello guys, G/J hajust formed 2nd point. Set the pending... hope it's correct
Attached Image (click to enlarge)
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  • #302
  • Jun 5, 2014 12:18am Jun 5, 2014 12:18am
Quoting orko_555
Hello guys, G/J hajust formed 2nd point. Set the pending... hope it's correct {image}
patience is bitter, but its fruit is sweet
  • #303
  • Jun 5, 2014 12:21am Jun 5, 2014 12:21am
Quoting orko_555
Hello guys, G/J hajust formed 2nd point. Set the pending... hope it's correct {image}
Just had another look at your chart Orko and i would have place your sell order just below the lowest candle,but thats just me, but lets hope it does something.
patience is bitter, but its fruit is sweet
  • #304
  • Jun 5, 2014 1:01am Jun 5, 2014 1:01am
removed pending of g.j
patience is bitter, but its fruit is sweet
  • #305
  • Jun 5, 2014 1:14am Jun 5, 2014 1:14am
goodmorning all!!
  • #306
  • Jun 5, 2014 1:16am Jun 5, 2014 1:16am
Quoting austin85cold
goodmorning all!!
goodmorning Austin, just going to lunch here
patience is bitter, but its fruit is sweet
  • #307
  • Jun 5, 2014 1:23am Jun 5, 2014 1:23am
Quoting rifid
{quote} goodmorning Austin, just going to lunch here
great!!! any trades i'v missed for the morning???
  • #308
  • Jun 5, 2014 1:57am Jun 5, 2014 1:57am
Quoting rifid
Ok lets just get realistic here for a minute about expectations for this method, i have been very upfront of what you should be able to expect once you have practiced it, any suggestion that you will get 70% success rate out of a 4/4 R/R system is pie in the sky dreaming, you will get it some weeks but on average no.But then again maybe there are some real smart traders out there RTM ? if so share your wisdom. AS for spreads ,yes this system is very sensitive to large spreads and if you decide to use it ,best if you find a broker that fits . I use...

Hi Rifid

Thanks for this creating the thread and sharing your experience.

Since you seem to keep a journal and records of your past transactions (very smart practice btw), would you be kind enough to share some specific information of your statistics...or at the least the number of B/E occurrences. Not personal income figures obviously...but rather win/loss versus the break-even and number of transactions where you actively manage the trade and take profits before the 20TP initially established.


From what I gather in this thread, this would be the average results on a weekly basis :

I don't know however what are the B/E occurrences. I don't know either the number of occurrences where you manually intervene in the trade with a trailing stop loss or manual closing of the trade. My worry is that a 20 pip T/P on a M5 time frame is very high and cannot be reached that often (without retrace to the SL), especially in a market where we see lower ranges (volatility) and a lot of sideways price action. I am not lazy and will do my DD and back testing, but would appreciate your input on this if possible and if you find the time.


Capital : $10,000
Risk (in %) : 2%
Risk (in $) : $200
Take Profit (in %) : 8%
Take Profit (in $) : $800

Winning ratio : 50%
Loosing ratio : 50%
Trade occurrence : 3 to 8 per week
3 Trades : Loss : ($300) Gain : $1,200 Net : $900 (see Note 1)
8 Trades : Loss : ($800) Gain : $3,200 Net : $2,400 (see Note 1)

Note 1: Without considering spread and commissions

Break-even under the above hypothesis would be as follows :
Winning ratio : 20% (see Note 1 above)
Loosing ratio : 80% (see Note 1 above)

Kind regards
  • #309
  • Jun 5, 2014 2:57am Jun 5, 2014 2:57am
Hi Rifid
lookked like a nice long set up on g/j in the last hour or so.....any comments?
  • #310
  • Jun 5, 2014 3:00am Jun 5, 2014 3:00am
Quoting Spar
{quote} Hi Rifid Thanks for this creating the thread and sharing your experience. Since you seem to keep a journal and records of your past transactions (very smart practice btw), would you be kind enough to share some specific information of your statistics...or at the least the number of B/E occurrences. Not personal income figures obviously...but rather win/loss versus the break-even and number of transactions where you actively manage the trade and take profits before the 20TP initially established. From what I gather in this thread, this would...
Hi Spar,
i have given your question some consideration since you took some time to compose it,
I am a little reluctant to give my results as others individual results may vary some what as it is not purly a mechanical system ,such as an indicator based system which just tells you when to put a trade on, this is quite discretionary, and the more experienced you get at it the better your results become.
This system is more suited to the serious trader who has realized that most indicatoer based charts dont work in the long run,and that price action is the only thing that counts, unfortunatly it takes time to learn how to read charts properly and follow the flow of them. For example from starting this thread i have realized even though i put up good examples of quality setups ,peoples interpretation of them seem to be much different to mine, so you are going to get varied results from person to person, its easy for me because i have been doing it for a long time ,i know what shaped patterns have say an 80% chance of success and which ones may only have a 20% success rate.
What i like about this system is the 4/rr which is great for your mental positon as a trader, as most traders know once you have 3,4,5,or more looses in a row on a 1 to 1 r/r system it is very hard mentally to stick to your system and keep putting trades on, with 4r/r you can make numerous mistakes and still make a profit .
This is only the first week this system has been published it will take time for traders to learn it properly , but once you have mastered it you'll never need another indicator again and you will start see things in your charts that you have never seen before , it will be like someone has just turned the light on inside your head.
But just for your curiosity i have gone through my records for last 6mths.

Wins 75
losses 77
B/E 28
The low number of B/e is surprisingly low ,mainly because once price gets to 75% of T/P it usually goes on fairly easily.
Some trades i do manage if a trade looks like it is not performing the way i like i will take appropriate action on it
These figures of mine are only based on 4 yen pairs that i watch
Hope this goes some way to answering your questions.
patience is bitter, but its fruit is sweet
  • #311
  • Jun 5, 2014 3:15am Jun 5, 2014 3:15am
Hi, new to this thread, looks interesting.

How does this setup look?

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Just my 2 cents worth
  • #312
  • Jun 5, 2014 3:17am Jun 5, 2014 3:17am
Ignoring the one big spike, looks like nice long setup on EUR/USD... Just mentioning...
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Itchy Spirit Return This Year: na
  • #313
  • Jun 5, 2014 3:26am Jun 5, 2014 3:26am
Quoting Spiritwalker
Ignoring the one big spike, looks like nice long setup on EUR/USD... Just mentioning... {image}
If you squash a 1h chart up you will get a better perspective on this ,you will notice it is the bottom of a consolidation channel, it should eventually continue down ,but may want to make another run up to the top of the channel before hand .
patience is bitter, but its fruit is sweet
  • #314
  • Jun 5, 2014 3:30am Jun 5, 2014 3:30am
oh and all those indies on your chart are making me feel all giddy in the head
patience is bitter, but its fruit is sweet
  • #315
  • Jun 5, 2014 3:32am Jun 5, 2014 3:32am
Quoting rifid
oh and all those indies on your chart are making me feel all giddy in the head
Can't live without them... If they're gone, I feel like flying blind...
Itchy Spirit Return This Year: na
  • #316
  • Jun 5, 2014 3:32am Jun 5, 2014 3:32am
Quoting rifid
{quote} Hi Spar, i have given your question some consideration since you took some time to compose it, I am a little reluctant to give my results as others individual results may vary some what as it is not purly a mechanical system ,...... .

Hi Rifid

Thanks for taking the time to respond. I concur with your view and understand.

One last question on this issue if I may ...and if not perceived as intrusive? Of the +/- 75 wins, what % have attained 20pips TP ?

The reason I asked is simply to try to determine how much of your straightforward strategy follows the basic rules of 20TP / 5SL versus your discretionary intervention. If say 50% of your wins are between 1 and 19 pips, then a lot of experience is required to handle this strategy and know when to close the position. If most of them close with TP, then we can concentrate on correct entries (set-ups) rather than analyze all the other variables on back and live tests.

I must say however that either way, this is a great thread for traders to appreciate reading the naked charts and price action rather than clustered lagging indicators. Probably one of the best threads in its simplicity and no-false illusions.

Thanks again for the time and effort you put in this thread.
  • #317
  • Jun 5, 2014 3:33am Jun 5, 2014 3:33am
Quoting Guy Mann
Hi, new to this thread, looks interesting. How does this setup look? {image}
Hi guy , not for me at the moment, i did have a pending on this a while ago but took it of as it got very untidy,
patience is bitter, but its fruit is sweet
  • #318
  • Jun 5, 2014 3:35am Jun 5, 2014 3:35am
Quoting rifid
{quote} Hi guy , not for me at the moment, i did have a pending on this a while ago but took it of as it got very untidy,
Ok cool
Just my 2 cents worth
  • #319
  • Jun 5, 2014 3:40am Jun 5, 2014 3:40am
Quoting Spar
{quote} Hi Rifid Thanks for taking the time to respond. I concur with your view and understand. One last question on this issue if I may ...and if not perceived as intrusive? Of the +/- 75 wins, what % have attained 20pips TP ? The reason I asked is simply to try to determine how much of your straightforward strategy follows the basic rules of 20TP / 5SL versus your discretionary intervention. If say 50% of your wins are between 1 and 19 pips, then a lot of experience is required to handle this strategy and know when to close the position. If most...
Around 90% of the profitable trades go to 18 to 20 pips , often if price gets to within a few pips of T/P and stalls i will close the trade to save it comming back to B.E
patience is bitter, but its fruit is sweet
  • #320
  • Jun 5, 2014 3:43am Jun 5, 2014 3:43am
Thanks again Rifid.

I will do my best to contribute to your thread with charts in line with your rules.

A+
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