Follow the monthly candle and be profitable | Forex Factory

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Follow the monthly candle and be profitable

  • #1
  • First Post: Sep 19, 2014 2:31pm Sep 19, 2014 2:31pm
Just follow the previous monthly candle


Monthly candle closes red: We will place a sell stop pending order 20 pips below the opening price of the new monthly candle with 60 pips TP and 100 pips STOP.

Monthly blue candle closes: We will place a pending order buy stop 20 pips above the opening price of the new monthly candle with 60 pips TP and 100 pips STOP.


27 Pairs: eurusd,gbpusd,audusd,nzdusd,eurjpy.gbpjpy.audjpy,nzdjpy,euraud,gbpaud,usdcad,eurcad,gbpchf,usdchf, usdjpy,eurnzd,gbpnzd,audcad,audchf,audnzd,cadchf,cadjpy,chfjpy,gbpcad,nzdcad, nzdchf e usdsgd.

Working only 30 minutes per month. +860 pips

See the results of September.
Attached Image (click to enlarge)
Click to Enlarge Name: Resultado 09 2014.png Size: 302 KB
  • #2
  • Sep 19, 2014 4:38pm Sep 19, 2014 4:38pm
Quoting mokhlesur
Subscribed.

I do not understand
  • #3
  • Sep 19, 2014 9:30pm Sep 19, 2014 9:30pm
Why only a 60 pip target? I'll give it a look.

Simple and sweet.

How far back have you seen positive results?
  • #4
  • Sep 19, 2014 11:51pm Sep 19, 2014 11:51pm
hi
its good system i think.have you ever thought about weekly or even daily candles?
regards
fred
  • #5
  • Sep 20, 2014 12:13am Sep 20, 2014 12:13am
Quoting Robinho
Just follow the previous monthly candle Monthly candle closes red: We will place a sell stop pending order 20 pips below the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. Monthly blue candle closes: We will place a pending order buy stop 20 pips above the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. 27 Pairs: eurusd,gbpusd,audusd,nzdusd,eurjpy.gbpjpy.audjpy,nzdjpy,euraud,gbpaud,usdcad,eurcad,gbpchf,usdchf, usdjpy,eurnzd,gbpnzd,audcad,audchf,audnzd,cadchf,cadjpy,chfjpy,gbpcad,nzdcad, nzdchf...
Please explain better. Therae are daily or montly candles. Your report indicates the daily ones.
Regards.
Ryszard
  • #6
  • Sep 20, 2014 1:23am Sep 20, 2014 1:23am
The chart you have provided above show the time frame as Daily, not monthly.
Please describe your method in detail.

John
Winning is a Great Feeling!
  • #7
  • Sep 20, 2014 1:34am Sep 20, 2014 1:34am
The date is at the start of the month, guys. Look and understand first!
A pip is only worth it if you know how much you risked to earn it
  • #8
  • Sep 20, 2014 1:35am Sep 20, 2014 1:35am
Quoting Robinho
Just follow the previous monthly candle Monthly candle closes red: We will place a sell stop pending order 20 pips below the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. Monthly blue candle closes: We will place a pending order buy stop 20 pips above the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. 27 Pairs: eurusd,gbpusd,audusd,nzdusd,eurjpy.gbpjpy.audjpy,nzdjpy,euraud,gbpaud,usdcad,eurcad,gbpchf,usdchf, usdjpy,eurnzd,gbpnzd,audcad,audchf,audnzd,cadchf,cadjpy,chfjpy,gbpcad,nzdcad, nzdchf...
This is a very good trading method,
A lot of signal providers use this method but camouflage it.
Weekly charts work too.
I personally trade daily but my aim is different,(obviously I want pips)
I have no history for trading so many pairs at same time and do not be afraid to adapt method to your own style.
Say thanks to Robinho for posting this good thread,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #9
  • Sep 20, 2014 1:36am Sep 20, 2014 1:36am
Quoting Robinho
Just follow the previous monthly candle Monthly candle closes red: We will place a sell stop pending order 20 pips below the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. Monthly blue candle closes: We will place a pending order buy stop 20 pips above the opening price of the new monthly candle with 60 pips TP and 100 pips STOP. 27 Pairs: eurusd,gbpusd,audusd,nzdusd,eurjpy.gbpjpy.audjpy,nzdjpy,euraud,gbpaud,usdcad,eurcad,gbpchf,usdchf, usdjpy,eurnzd,gbpnzd,audcad,audchf,audnzd,cadchf,cadjpy,chfjpy,gbpcad,nzdcad, nzdchf...
Its a good breakout system. I would monitor it daily. Some could say, dispense with the stoploss and hedge against until a smaller timeframe signal allows you to exit both hedge trades. But 100 pip risk on the table would have to be moved pretty quickly, I imagine.
A pip is only worth it if you know how much you risked to earn it
  • #10
  • Sep 20, 2014 1:36am Sep 20, 2014 1:36am
Quoting johnblake
The chart you have provided above show the time frame as Daily, not monthly. Please describe your method in detail. John
Hi, some people have to be spoon fed and no doubt it will get worse, be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #11
  • Sep 20, 2014 1:38am Sep 20, 2014 1:38am


Quoting billytt
{quote} This is a very good trading method, A lot of signal providers use this method but camouflage it. Weekly charts work too. I personally trade daily but my aim is different,(obviously I want pips) I have no history for trading so many pairs at same time and do not be afraid to adapt method to your own style. Say thanks to Robinho for posting this good thread,
A pip is only worth it if you know how much you risked to earn it
  • #12
  • Sep 20, 2014 1:40am Sep 20, 2014 1:40am
Quoting vlady1974
{quote} Its a good breakout system. I would monitor it daily. Some could say, dispense with the stoploss and hedge against until a smaller timeframe signal allows you to exit both hedge trades. But 100 pip risk on the table would have to be moved pretty quickly, I imagine.
hi, It is good method only trouble is , it is monthly so if one is impatient the days will drag and I agree stop loss will have to be shifted quick but it is up to individual to make method their own to suit style
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13
  • Edited 2:08am Sep 20, 2014 1:56am | Edited 2:08am
Interesting.

But what happens if a pair decides to reverse in the middle of the month? No doubt you will lose money (or best case, break even), because those types of reversals can only be spotted using smaller TFs, much less than Monthly.

On that same note, I would imagine this method works well in trending markets, but you will get raped in ranging markets.

I think your system needs a lot more testing still... but just my 2 cents!

The markets are dynamic and I think any trading system needs to be too.

The past does NOT and CANNOT predict the future. But it can give you a decent approximation of what to expect.
Please check out my blog at https://from-zero-to-hero . net
  • #14
  • Sep 20, 2014 1:57am Sep 20, 2014 1:57am
I think it will work fine on weekly if only a very aggressive trailing EA is applied on the trades then the issue of stop loss been hit will be minized
  • #15
  • Sep 20, 2014 2:15am Sep 20, 2014 2:15am
Quoting smash1820
Interesting. But what happens if a pair decides to reverse in the middle of the month? No doubt you will lose money (or best case, break even), because those types of reversals can only be spotted using smaller TFs, much less than Monthly. On that same note, I would imagine this method works well in trending markets, but you will get raped in ranging markets. I think your system needs a lot more testing still... but just my 2 cents! The markets are dynamic and I think any trading system needs to be too. The past does NOT and CANNOT predict the future....
It all depends what you want to take from the method, trending/ranging it doesn't matter, if you expect too much you'll fail, just milk it. you are right the past cannot predict future but you look at all the pros/news they always talk about highs and lows
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #16
  • Sep 20, 2014 2:30am Sep 20, 2014 2:30am
Quoting billytt
It all depends what you want to take from the method, trending/ranging it doesn't matter, if you expect too much you'll fail, just milk it. you are right the past cannot predict future but you look at all the pros/news they always talk about highs and lows
You are wrong. Trending vs. Ranging matters a ton. In fact, as far as this method is concerned, there is nothing more important. Just imagine if this guy bought EU at ~1.40 the month after it topped, because "the trend was up" (or, to be more specific, price was moving up). You still think he would have made money???

If you are not able to spot turning points in the market, you are doomed to failure imo.
Please check out my blog at https://from-zero-to-hero . net
  • #17
  • Sep 20, 2014 2:30am Sep 20, 2014 2:30am
Some months the Markets reverse therefore I suggest placing OCO Buy and Sell Pending Orders.
Better to have Risk to Reward Ratio as 1:1, therefore it may be better to have 100 pips TP and
100 pips SL
Winning is a Great Feeling!
  • #18
  • Sep 20, 2014 2:53am Sep 20, 2014 2:53am
Quoting smash1820
{quote} You are wrong. Trending vs. Ranging matters a ton. In fact, as far as this method is concerned, there is nothing more important. Just imagine if this guy bought EU at ~1.40 the month after it topped, because "the trend was up" (or, to be more specific, price was moving up). You still think he would have made money??? If you are not able to spot turning points in the market, you are doomed to failure imo.
check your chart, e/u may of topped at 14000 but what ??? their was no entry point , the break from previous month was 90 pips max and following month 80 pips max.
I agree entirely trending does matter big time but thread owner is showing monthly breaks, this is a very good method.
It looks like some people wanting something for nothing and being a pro troll, be good
Attached Image (click to enlarge)
Click to Enlarge Name: eu.PNG Size: 60 KB


edit,,, we do have losers it is expected sometimes, but that is trading
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19
  • Sep 20, 2014 6:31am Sep 20, 2014 6:31am
Quoting Rahimseven
Why only a 60 pip target? I'll give it a look. Simple and sweet. How far back have you seen positive results?
I put this goal ... but had peers who were 400 + pips;;; it is each ...
  • #20
  • Sep 20, 2014 6:33am Sep 20, 2014 6:33am
Quoting fredgold3434
hi its good system i think.have you ever thought about weekly or even daily candles? regards fred
Also you can work with weekly or monthly ... but at,,, monthly work only 30 minutes a month .... and the results are more consistent
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