Follow the monthly candle and be profitable

I dont understand your setup. For example eurjpy previous MN =red, W = blue, D=red and you go long!!! Could you or Robinho explain please

We're talking about two different things, different ... read post 1175.1177 and 1178.

Method D1 = W1 = MN is an incoming thing 00:00

Gave tips that make the opening of London and NY ... that's another thing

I understood,thanks Robinho

thanks my friend,

got to but,

same movement could be happening once again:



good trades to all!

Hello everyone,

i found this thread some days ago, and i made my backtesting in demo mode only about EURUSD, specially for monthly trade (based on the previous monthly candle, once in a month) and weekly trade (based on the previous weekly candle without care of the monthly candle, once in a week), and i had interesting results.
But, i would like to share with you all some points.

MONTHLY
When you make the monthly trade (that happens at the very start of the month), and the weekly trade (that happens at the very start of the week), with those many pairs (27 pairs if i remember well), and your risk/reward is 100(S/L) / 60(T/P), what about your risk menagment? For each pair you trade you risk 2%? It means that 100 pips are 2% of your account?)
If you do that, with 27 pairs... you risk 54% of your account each monthly and weekly trade? I think is TOOOO MUCH!
The beginning of this thread was much different than how it developed by the way. At the beginning the goal was to trade just 20 minutes per month and reach our 10% of profit, so, the risk had to be for sure 54% in total in those just 20 minutes every start of the month.
Are you ready to do that? Me not. 54% in one time is too much for me.
But i found it interesting anyway, with an appropriate change.
I can risk maximum 4% but no more, so risking that percentage per 100 pips, it means that if all the trades end in profit i gain 2.4% in a month, that is far away from 10% that is our goal.
Are you planning to risk 54% of your account at the beginning of the month?

MONTHLY and WEEKLY
If you are planning to trade the monthly and weekly candles, you have averagely 5 trades per month (1 trade the first day of the month, 4 trades the first days of the week of that specific month), so 10% (our monthly goal) divided by 5 trades... we have to gain 2% each trade, and with Risk/Reward 100/60, where we don't want to risk more than 2% per trade , we gain 1,2% per trade, that is 0,8% less than our goal per trade.
If we want to have 2% of gain per trade, we have to risk 3,33% per trade, that is ok.
So, this situation i can affort, since 3,33% of risk per trade is still ok.
So in this case, we have to work 5 times per month, 20 minutes per time and we gain in the best case our 10% monthly.

Anyway in my manual backtesting i tried different combination of stop loss, take profit and penden order, (30/30, 80/80, 60/60, 60/100, 40/120) only on EURUSD and since now the best combination is:

for monthly trade instant trade at the beginning of the new month, 30 pips S/L, 30 pips T/P

for weekly trade (i don't care of the color of the month but just of the previous week) pendent order of 20 pips, 80 pips S/L, 30 pips T/P

Backtesting from february of last year, we have a averagely gain percentage of 5.27% risking 4% each trade, and 4.91% risking 3%.
I am still far from my goal of 10% monthly.

INTRADAY TRADES
So, now i think that i have to make also intraday trades to reach my 10% of gain monthly.
I am reading all your posts regarging the intraday trades, but sometime is hard to understand. Anyway, i am making an interesting experiment.
I opened 2 positions (one long, one short) for the same pair in the same moment with 50 pips S/L, 5 pips T/P, with the 6 pairs advised by Rubinho, until now two trades are still open, but the others are already closed, and 9 of the are closed hitting the T/P, only 1 are closed hitting the S/L!
So with Risk/Reward 10/1, now i am nearly breakeven.
And remember, i open 2 opposite positions for the same pair, that is crazy, but anyway the result for me is amazing.
Think if you open the position using a little bit of price action, or using some good indicators... the odds are in our favour even if with that "crazy" Risk/Reward.

With Risk/Reward 10/1 where the risk is 2%, for each trade we gain 0.2%, and we need 50 winning trades to gain our 10% but remember if we have one loosing trade we erase 10 winning trade.
Needing 50 winning trades, we can have 5 winning trade per day among the 6 pairs advised by Rubinho (eurusd, euraud,eurjpy,gbpusd,gbpaud,gbpjpy) and in 10 days, if everything was ok, we gain our 10% monthly.

COMBINING MONTHLY, WEEKLY, INTRADAY TRADES
Now, we can trade monthly, weekly, and intraday, and have better and quickly opportunity to reach our goal (10%)
Based on my backtest, using only monthly and weekly on EURUSD, i gain around 5%, so with the intraday trade i need to gain other 5% and i am done.
Not bad i guess.
I still need to test and tune it, but i think Rubinho has a great idea and the potentials are great.

Now my question...

I understand how Rubinho trade the monthly previous candle, and the weekly previous candle, but actually i didn't understand how he trades the previous daily candle. I lost myself in the jungle of the posts!
Color of the current month has to be the same of the current week, and the previous day? So if i want to trade tomorrow, the color of february candle has to be the same of this week candle color, and those has to be the same color of the candle of today? And tomorrow i look at 1H candle of my pair and if the color of the open of london market is the same of month, week, yesterday candle, i open a position the next our?

Thank you all, and keep studing and posting.
Don't be greedy, 10% monthly, consistance, ... we become rich in few years with the power of compound.
I believe if we keep searching for the best combination of S/L, T/P we will descover someting great.

Thank you Robinho, thank you all,

Mirko

Guys,

i see just 1 trade coming up for the D1=WK=MN sequence: EARAUD short if the D1 candle closes bearish of course.
Anyone any other suggestions?

Hi Okrim,

We rely on the previous MN candle that means January; not this month, and we need the previous week, and yesterday's closed candle , that's it. and they need to be the same color as simple as that.

for those who've been through the material now look to close out the candle 19:00 pm.

EUR USd sell
GBPUSD sell

Hello everyone, i am gonna ask a really newbie question since im still a newbie

When it comes to Weekly and Monthly strategy, how do i calculate the pips TP and SL from currencies such as EURNZD, CADJPY, etc ,etc. I have traded the most popular ones so i can't understand the maths behind most of the ones Robinho said.

Hope not to bother with my question. Cheers

Thank you Ab4x!

I am continuing with my crazy test, i tried again to open in the same time 2 position (sell and buy) for the 6 pairs, with SL 50 and TP 5 pips, without even watch the charts... and ALL 12 trades were winner!
This is something that in real account i would never do, but it explains us that with just a minimum of attention, we can easily reach our goal.
I mean, if randomly we can reach 12 trades won (100% winner) and in the worst case (buy and sell in the same moment the same pair), it makes me believing that at the London opening market with nice indicator or price action waiting for a good setup, should not be any problem.
But let's see what happen in the reality!

Mirko

You don't need to calculate anything the smaller the TP is 5-10 the faster it gets hit that's all and the SL seems kinda big, but it's just for extra security usually the target gets hit way before it reaches the Sl ,by no means your SL won't get hit from time to time but the reasoning here is your winners will be more than loosers Cheers

Way to go bro,

Guiyee,

what do you want to know? The lot size for your risk menagment?
https://www.mataf.net/it/tools/04-02-pip-value this link can help you, on the right top corner you can choose your country for the language, and it is very simple, just put the pips you want to use as stop loss and your account size.
Look also this thread http://www.forexfactory.com/showthread.php?t=386673, from here you can download a very nice indicator simple and efficient in the middle of the page you find lot size calc.mq4.

All the best,

Mirko

so i had the AUDNZD underwater last time i wrote this post for the 23/2 today it did hit TP so all in all 8 entries all wins.

I would like to make a suggestion

if we post various other strategies or other ideas
other than the specified STRATEGY of this thread
then it is certain that we will have 100-200-300 pages
and will be difficult to obtain information on specific strategies.

and if someone want an information will must read 200-300 pages
while these info we can collect in 2-3-4 pages to help and easily have all the answers
so we make economy, we have direct all the answers, we are focus in the stategy, we make corrections ,
........ etc.
thanks ( my intention is to help and not to challenge someone )

Hi Ab4x and mates,

ok, i understand. If for example the last month is RED, the last week is RED, and yesterday is RED, i wait for the open of london (8.00 GMT), than... ? I wait one hour and i look for opportunity to go SHORT?
Or i wait until i have a H1 RED candle, than i go SHORT?

Thank you,

Mirko

Yes, it would be great for everyone to have all the informations in few pages with pictures, indicators, etc... very nice idea. Go for it!

Mirko

Hallelujah ... do not need indicator nenhum..olhe candles talked all the post 1175.1177 and 1178, look candles and anything else ... but the path is almost that.


NO WINDOW NEED TO SAY NOTHING IN, WE NEED INDICATORS TO FACILITATE ONLY CANDLES VIEW, PREVIOUS AND OPENING PRICE LINE, UP OR DOWN ...

Just look today in the EURUSD pair, GBPUSD, EURJPY and GBPJPY

Candle preceding the opening of the pair EURUSD closed LONDON red and was below the opening price ... the next sailing london was where?

GBPJPY candle preceding London closed blue and was above the opening price ;;; the price was where?

See that GBPUSD London preceding candle closed blue, but was below the opening price, DO NOT OPERATE.

See that EURJPY London preceding candle closed red, ams was above the opening price, DO NOT OPERATE.

We need not do forex one Russian roulette, just to look and think and act.

Today I did 10 entries and won all. Day 09/02 today, fooram 121 entries and only took 01 stop, is luck?

Everyone ask,request,make comments etc BUT no one make an offer to donate to a great person like Robinho that for some family reasons he doesn't have the luxus to trade with real money.

Robinho make all that because he is a good person and want the people help without to request something and probably is to proud for that.

Therefore i Advise to Robinho to open an account or maybe it's possible through the brokers like ICMarkets etc so that traders who use this method and have some profits to donate so that he have the opportunity to trade live.
To give is same good like to get

Friend thank you, but people have to do things on their own head, today passed the necessary tools help patra in London opening trade and Ny to 02 friends, those who want to send me email inbox, I send material. Anyone with the material and looking at the picture and reading the post 1175,1177,1178 and 1218 will understand that the system is easy. As I said I am not genius, nor have a crystal ball to win 120 of 121 operations is not luck, there is a logic.

As for help, each has its head ... my part I'm doing, sometimes I'm boring, thick, but my intention is that everyone wins, it will not atarpalhar my life at all. Kindness generates kindness.

Thank you for listening and carinho.Um fraternal embrace.