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Follow the monthly candle and be profitable

  • #581
  • Nov 10, 2014 9:47am Nov 10, 2014 9:47am
Yes, SmoothTrader is right. I started trying out the basic concept on the weekly charts. The original method is the monthly candles. I just wanted to see if it worked with weekly candles -- which so far it seems to be.

**Update for this week**

I've won 8/27 trades so far. The rest are still in limbo. Biggest loser is Gold right now, but I expect it to reverse.
I am NOT an expert. I post to learn from others.
  • #582
  • Nov 10, 2014 11:10am Nov 10, 2014 11:10am
I made the entries manually ... 27 pairs so far are:

16 wins of 15 pips
05 defeats in 60 pips

I walked through the closing of the color of the candle, but I saw that GBPAUD would not purchase due to sail weekly denial, and already had 02 candles sell D1 closed. But still the entries made in accordance with the closing of the weekly candle color.
Attached Image (click to enlarge)
Click to Enlarge Name: 16 vitórias 05 derrotas.png Size: 301 KB
  • #583
  • Nov 10, 2014 11:19am Nov 10, 2014 11:19am
That's a nice win rate, Robinho. But I did the math - I think you might be coming out behind with your T/P and S/L.

16 wins x 15 pips = 240 pips
5 losses x 60 pips = 300 pips

240 - 300 = -60 pips

The issue is that you took your monthly T/P of 60 and since there are 4 weeks in a month, you divided (60/4 = 15) to get 15 t/p for the weekly charts.
The problem, I think, is that you did not also divide your S/L by 4 (100/4 = 25 pips instead of 60 pips).

What do you think?

**Update**
I've now got 11/27 trades as winners - the rest are still open.
I am NOT an expert. I post to learn from others.
  • #584
  • Nov 10, 2014 11:42am Nov 10, 2014 11:42am
Quoting Phantom-X
That's a nice win rate, Robinho. But I did the math - I think you might be coming out behind with your T/P and S/L. 16 wins x 15 pips = 240 pips 5 losses x 60 pips = 300 pips 240 - 300 = -60 pips The issue is that you took your monthly T/P of 60 and since there are 4 weeks in a month, you divided (60/4 = 15) to get 15 t/p for the weekly charts. The problem, I think, is that you did not also divide your S/L by 4 (100/4 = 25 pips instead of 60 pips). What do you think? **Update** I've now got 11/27 trades as winners - the rest are still open.

I'm just testing this idea from our friend ... do not intend to work with weekly ... I'm focused on the 1000 cycle in 1000 pips ... just to make annual inflows 01/02,,, and I'm doing diáriias entries to win only 10 pips. Put short stop is like a taste of imã..não trabalghar with short stop. To work with a short stop, we have to trabalghar only the opening of London ... with 06 pairs at most, only going in favor of MN, W1 and D1 ... putting a stop 20 pips and 10 pips ... or Tp 10 pips STOP and 05 pips TP ... watching the operation.

1) We follow the operation in London putting short stop in just 06 pairs, or ....

2) We have entered the month at the points ... the level of cycle (1000 to 1000) and put a stop 300/400 pips, and forget operation.

In method (1) will have a time to work, without getting all day on PC

In method (2) we do 01/02 annual inputs and will not stay all day at PC

I intend to work with (01) and (02) future. Only this, and nothing more.
  • #585
  • Nov 10, 2014 11:46am Nov 10, 2014 11:46am
OK, very cool!

I think the basics of YOUR (keyword: you are the creator here) system can extend to many different time frames. Thanks for your contribution. This is an exciting time to be a trader.
I am NOT an expert. I post to learn from others.
  • #586
  • Nov 10, 2014 5:23pm Nov 10, 2014 5:23pm
input 11/11

GBPAUD SELL 1.8368
GBPAUD SELL 1.8374
  • #587
  • Nov 10, 2014 7:09pm Nov 10, 2014 7:09pm
Quoting Robinho
input 11/11 GBPAUD SELL 1.8368 GBPAUD SELL 1.8374
done for the day
+10 Pips
+20 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: 02 vitorias GBPAUD + 10 +20.png Size: 225 KB
  • #588
  • Nov 10, 2014 10:47pm Nov 10, 2014 10:47pm
Just a quick update. I'm at 19/27 winners so far, with 8 trades floating. I've also still got the prior week's 2 "losers" open (for a total of 10 trades floating).
I am NOT an expert. I post to learn from others.
  • #589
  • Edited Nov 11, 2014 12:12am Nov 10, 2014 10:58pm | Edited Nov 11, 2014 12:12am
i have taken the weekly and so far all have gone in tp only one is still battling in profit , i shall publish the result once the last trade sails thru .

Also we should concentrate on doing it on a daily basis as well

I have taken day trades today as the new day candle opened as per the pic shared earlier. and the results are here under. All these currency pairs qualified for day trading . i hv kept tp at 10 pips and sl at 100 pips . so far no sl has got triggerd.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: running day trades.png Size: 26 KB
Click to Enlarge Name: won day trades.png Size: 15 KB
  • #590
  • Nov 10, 2014 10:59pm Nov 10, 2014 10:59pm
Quoting unimak
i have taken the weekly and so far all have gone in tp only one is still battling in profit , i shall publish the result once the last trade sails thru . Also we should concentrate on doing it on a daily basis as well
Awesome. I opened my trades on Sunday at 5:00pm - when did you open yours? I wonder if that's why we have different results so far. I'm glad you have had that many winners though!

What are the rules for daily charts?
I am NOT an expert. I post to learn from others.
  • #591
  • Edited 2:30am Nov 11, 2014 12:44am | Edited 2:30am
I opened weekly trade at around 8 in the morning , the new day candle is born at 3.30 a.m as per my time so i opened trade after 4.30 hrs approx. initially i tried with the EA which did not fire then i went to script mode , the weekly script which smoothtrader shared in earlier post and i just fired in all the 27 pairs mentioned in the first post. I am playing by the rules mentioned. the script has the tp and sl set so it put all the values and took the buy or sell entry , no intervention is done by me. All are thru except cadchf which did not hitp tp due to 1 -2 pips but i did not close it . it is still running let us c .

As regards daily wht my friend says and what i could make out is we have to put the HA indicator in daily chart and then put the nihlist ultra trend indicator at the bottom , when they both of same color we fire the trade .

i got so may of the 27 so i fired a lot of trades in day mode , but robinho seem to have got only 1 that is GA so i am not fully clear whether my understanding correct so something else need to be looked into
  • #592
  • Nov 11, 2014 2:45am Nov 11, 2014 2:45am
Quoting Robinho
I made the entries manually ... 27 pairs so far are: 16 wins of 15 pips 05 defeats in 60 pips I walked through the closing of the color of the candle, but I saw that GBPAUD would not purchase due to sail weekly denial, and already had 02 candles sell D1 closed. But still the entries made in accordance with the closing of the weekly candle color. {image}

I did my weekly entries manually so far:

19 wins
05 defeats
03 open

Today I have to go out and do not accompany the market later put the results
  • #593
  • Nov 11, 2014 3:11am Nov 11, 2014 3:11am
Quoting unimak
ok friends while we are doing a blanket 27 pair weekly trade approach , i am giving it a little tweak in concentrating on a few of the 27 pair which i think hold great promise. valid till 10 -14 nov 2014. So for next week these are my pairs each gunning for 60 -100 pips with same 100 pips sl SELL AUD CAD 0.9783 below sell it AUD NZD 1.1137 below sell it AUD CHF 0.8341 below sell it BUY EURAUD 1.4421 above buy it GBPAUD 1.8378 above buy it We will review it at the end of next week .

GA hits 60 pips , the max it went down from the buy price was 64 pips so with 100 pip sl it survived the drawdown and hit tp
  • #594
  • Nov 11, 2014 6:07am Nov 11, 2014 6:07am
Here is my weekly result using the weekly script . Broker is ic markets , All trades entered after 4.30 hrs from market open , well that is when i opened the laptop and connected to market.

Result : in 2 days all the 27 pairs hits 20 pip tp 100 % hit no sl


As regards the Day the result is not good , i hv 7 wins so far and 6 trades running so if they dont hit tp by end of the day then it will not be so gr8 .

My own strategy based on week is running , each trade running for 60 pips so far one trade has hit tp rest is all running.

I am planning to implement my strategy for day let us c.
Attached Image (click to enlarge)
Click to Enlarge Name: 100 % tp hit.png Size: 79 KB
  • #595
  • Nov 11, 2014 6:58am Nov 11, 2014 6:58am
Hi Friends here is my report card for weekly trades all hit TP. only EUR/CHF which i close manually just now which is at BE. i put trades 3 hrs after market open. this is on new demo account i will continue till end of the year and see where it goes.

Entry is 20 pip TP and 100 pip Stop loss i use Weekly Script to enter trades
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly trades.png Size: 274 KB
Attached Image
  • #596
  • Nov 11, 2014 7:02am Nov 11, 2014 7:02am
friend eurchf does not come into count in the 27 pair list .

I just need somebody who can code an EA
  • #597
  • Nov 11, 2014 9:56am Nov 11, 2014 9:56am
Hello traders, i put the orders last night by the weekly script (tp=20 & sl=100) and this is the result up to now:
22 trades won and 6 floating. I'm going to put the script again tonight to see the result.
Green pips to all
  • #598
  • Nov 11, 2014 11:34am Nov 11, 2014 11:34am
Hi all,

I'm happy to see that people seem to be making money so far. That's great!

I'm at 20 wins with 7 floating (+2 floating from last week).

Regarding the EA -- I think it might be more trouble than it's worth? It only takes, at most, 20 minutes per week to place the trades manually. That's not a big time investment. You also have the added benefit of not having to worry about the EA making a mistake, or trading during a crazy news event, etc. Of course, this is just my $.02.

Many pips to all.
I am NOT an expert. I post to learn from others.
  • #599
  • Nov 11, 2014 12:14pm Nov 11, 2014 12:14pm
Congratulations to all, I am very happy. Follow the largest timesframes gives us freedom and within 20 minutes we do our week. I made the entries manually because EA did not arm nor the script (I think I did something wrong), put a stop 60 pips and 15 pips tp ... and so far is 20 wins and 05 defeats and 02 open.

Could someone send me the new script and the EA novo.para the weekend test them,,, thank you !!!
  • #600
  • Nov 11, 2014 12:14pm Nov 11, 2014 12:14pm
Quoting SmoothTrader
There was a small quirk in the EA that I posted in post 544. It would enter a pending BUYSTOP even when it wasn't suppose to. I tracked down my error and have corrected it. The update EA is here: {file} {file} I appreciate your understanding. GREEN pips to all.
Hi SmoothTrader , Thanks for your effort and sharing the Scripts and EAs . I think there are some situations that may cause the EA not to operate properly. it's that the time when for example the last week candle has been bearish but the last day candle has been bullish , and the EA will may have some problem to put the buy stop order.
It may need some corrections.
Thanks again and more green pips to you
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