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Daily green/red candle

  • #161
  • May 4, 2015 5:50am May 4, 2015 5:50am
Quoting raylin
Ok I see your point Dimdel Are you using the method buy at the high of the candle with the stop loss at the low of the candle ? I still maintain its best to put a stop loss to break even after the trade goes into profit after 45 pips. I have back tested the strategy that I showed in the Youtube video .It is quite disappointing when you are going for 100 pips and the trade reaches 90 pips and then reverses and stops you out.

It is true
very very disappointing to lose the trade for 2-3 pip
but
if i go the sl to breakeven after some pip40-50-60 this depend from the pair daily range
if in gold , after 50 pip go the sl to entry , then i think in 10 orders the 7 will hit sl
i really dont know what is the best
maybe you are right
i must or better we must search about it
  • #162
  • May 4, 2015 4:23pm May 4, 2015 4:23pm
TONIGHT

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  • #163
  • May 4, 2015 4:34pm May 4, 2015 4:34pm
Quoting RuAc
Hi dimdel, Interesting thread! My only question is the rationale behind taking an opposite position when there is a color change. Given that most times for instance if the market is trending upwards and there is a color change, it is highly likely a retracement for continuation rather than reversal. So I would keep your principles, of take profit for instance, but treat the color change as retracement until otherwise confirmed as reversal. Just my thoughts and questions. Not discrediting or anything like that.
Good points, but you will miss the major moves, what this method needs is a ways to stay with the trade once in as some reversals run for days; this will more than make up for the loses.

Using a bit of price action savvy, anyone should be able to snag some great trades, don't just take all pairs just because of color change, be selective & WIN

many pips to all
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It takes a lot for me to IGNORE you, but you can try.
  • #164
  • May 5, 2015 2:00am May 5, 2015 2:00am
Quoting Erebus
{quote} Good points, but you will miss the major moves, what this method needs is a ways to stay with the trade once in as some reversals run for days; this will more than make up for the loses. Using a bit of price action savvy, anyone should be able to snag some great trades, don't just take all pairs just because of color change, be selective & WIN many pips to all {image}
Hi Dimdel ,
two questions for you
1)whi on aud-yen and aud-cad you have two orders contemporaney on chart at low and at hign of candle?
2)wich is you watchlist

thank you
  • #165
  • May 5, 2015 3:17am May 5, 2015 3:17am
Quoting franky779
{quote} Hi Dimdel , two questions for you 1)whi on aud-yen and aud-cad you have two orders contemporaney on chart at low and at hign of candle? 2)wich is you watchlist thank you

hi franky

well
i have 2 brokers - real account
and the 1st had audjpy green and the 2nd had the audjpy red
so i put 2 orders up/down

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  • #166
  • May 5, 2015 3:24am May 5, 2015 3:24am
in the aud because the news i couldnt protect my sl
ok this is the game
  • #167
  • May 5, 2015 3:58pm May 5, 2015 3:58pm
tonight

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  • #168
  • May 5, 2015 8:17pm May 5, 2015 8:17pm
In my forward testing I have may have found a filter that can increase accuracy.

Look at the last 3 candles prior to the new colour. If they are the opposite to the new coloured candle then enter the trade at the open of todays candle in the direction of those 3 candles.

I'm also checking to see if drilling down from the Daily once a signal as above occurs and using the H4 for the same signal for entry will increase accuracy.
Winners add to winning trades!
  • #169
  • May 6, 2015 12:10am May 6, 2015 12:10am
Quoting marshalmax
In my forward testing I have may have found a filter that can increase accuracy. Look at the last 3 candles prior to the new colour. If they are the opposite to the new coloured candle then enter the trade at the open of todays candle in the direction of those 3 candles. I'm also checking to see if drilling down from the Daily once a signal as above occurs and using the H4 for the same signal for entry will increase accuracy.
give us an example chart
  • #170
  • May 6, 2015 1:32pm May 6, 2015 1:32pm
Does anyone trades with GREEN/RED?
if yes please post your results
if no ok Nice to meet you
  • #171
  • May 6, 2015 2:03pm May 6, 2015 2:03pm
Quoting dimdel
Does anyone trades with GREEN/RED? if yes please post your results if no ok Nice to meet you
As I stated in my prior post I do trade your method and I am having good results. I trade it LIVE with real money -- I am profitable - BUT it has only been 3 trading days. I trade it on both the DAILY chart and on the 15 min chart. Both show good results. It is a very simple method and it Works.
I will show results after using for a longer period of time. Thanks for the method dimdel. By the way - on the 15 min chart I only go for 5 - 10 pips at a time with no stop loss. Approximately 9 trades 100% profitable on the 15 min. On the Daily I sometimes only go for 20 - 30 pips but I double up on the amount per pip. In other words normal trade on Daily is $1.00 per pip - When I go for 20 pips I will trade $2.00 per pip. I also only trade ONE currency pair the Eur/USD, In the 3 days my account has grown from $1,000 to $1104.90. Way to early to tell in the long run.
I think a mistake some traders make is going for too many pips. Go for less pips with more $$ or euros per pip - Better Results maybe?
  • #172
  • May 6, 2015 2:19pm May 6, 2015 2:19pm
Quoting tomthepoppop
{quote}As I stated in my prior post I do trade your method and I am having good results. I trade it LIVE with real money -- I am profitable - BUT it has only been 3 trading days. I trade it on both the DAILY chart and on the 15 min chart. Both show good results. It is a very simple method and it Works. I will show results after using for a longer period of time. Thanks for the method dimdel. By the way - on the 15 min chart I only go for 5 - 10 pips at a time with no stop loss. Approximately 9 trades 100% profitable on the 15 min. On the Daily I...

bravo friend tom
good results
i want to see your way more analytical
thanks
  • #173
  • May 6, 2015 2:31pm May 6, 2015 2:31pm
Quoting tomthepoppop
{quote}As I stated in my prior post I do trade your method and I am having good results. I trade it LIVE with real money -- I am profitable - BUT it has only been 3 trading days. I trade it on both the DAILY chart and on the 15 min chart. Both show good results. It is a very simple method and it Works. I will show results after using for a longer period of time. Thanks for the method dimdel. By the way - on the 15 min chart I only go for 5 - 10 pips at a time with no stop loss. Approximately 9 trades 100% profitable on the 15 min. On the Daily I...
with my quick look

i think is better M30
sl low candle/ tp 200 fib

but you must to sit all day in the PC with stress

anyway i want to see your way and
if is profitable all the other are sophistry
  • #174
  • May 6, 2015 3:49pm May 6, 2015 3:49pm
tonight

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  • #175
  • May 6, 2015 3:58pm May 6, 2015 3:58pm
Hi guys, i'm trading with this method too. I will post my results at the end of the week.
I'm thinking that better TP will be Fibo 150 or Fio 161,8.
  • #176
  • May 6, 2015 4:43pm May 6, 2015 4:43pm
Quoting laksior
Hi guys, i'm trading with this method too. I will post my results at the end of the week. I'm thinking that better TP will be Fibo 150 or Fio 161,8.
hi laksior

i wish you many profits

i prefer rr 1/1
because if for example
i have tp 150 fibo then rr 1/0.5

so if i lose 2 orders then i must win 4 to be at 0

now if we take some pips every day , then will came that day that will take all the profit back very easy
but if something work for someone, all its ok , this is the point, the profit
  • #177
  • May 6, 2015 7:37pm May 6, 2015 7:37pm
One other thing I have noticed is that if yesterdays candle has a large wick in same direction as the preceding few candles then trade the opposing direction irrespective of the colour of that candle. Some very good results in backtesting.

https://lh4.googleusercontent.com/-I...2BD%2BWICK.JPG
Winners add to winning trades!
  • #178
  • May 7, 2015 12:03pm May 7, 2015 12:03pm
ok now you can see my live account , the results
i hope to be profitable every week
my target is 10-15% / week
but .....will see.......
  • #179
  • May 7, 2015 1:46pm May 7, 2015 1:46pm
Impressive results so far
  • #180
  • May 7, 2015 2:05pm May 7, 2015 2:05pm
Red Candle/Green Candle is a solid strategy. I'm doing well, so far.
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