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Daily green/red candle

  • #761
  • May 25, 2015 8:19am May 25, 2015 8:19am
Quoting Georgebaker
{quote} Hi Steve, Thank you for sharing your ideas here I have looked at your charts and explanation and i have a question. Please take a look at my chart. Would you have take a short here now that the red candle close above the green candle? {image}
Actually, the red candle's close is below the green candle's close. You're looking at the red candle low, which is above the green candle low.
I really don't think you can apply any hard/fast rules about specific candle formations(from my own experience). In my trading, I've done
equally as well with outside bars, inside bars, etc. I can't really say if any particular candle type has given me an edge.
  • #762
  • May 25, 2015 8:53am May 25, 2015 8:53am
Quoting dimdel
{quote} {image}
Hello Dimdel, I am still at loss, please explain this,

1. Can I trade only one currency pair with increased lots to avoid currency corelations.
2. Do I need to trade each green or red candle with fib rules or open one trade then wait until it hit tp or sl and then go for next trade. Thanks in advance for your explanation. regards.
  • #763
  • May 25, 2015 10:37am May 25, 2015 10:37am
not alot of movement today with it being a bank holiday in uk/usa etc so my question is which candle would we look at for tmrws trade ?
Todays candle on the usd/cad there has been only 35 pips from high/low although right now it is green and going the way fridays candle ended.
Volumes are really low all round do you think traders back at their desks tmrw are picking up from friday or todays close ?
  • #764
  • May 25, 2015 11:30am May 25, 2015 11:30am
Quoting stevepatt
{quote} Hi George; Yes, I would have entered after that setup candle, see chart below. To be honest, with you, I have been taking a closer look at dimdel's method and I can see the merits of just Trading as per dimdel rules. I have been so used to "Trading with the Primary Trend" waiting for the "Market to Pullback" to "Support/Resistance" then waiting for the appropriate "Price Action" to take a Trade that I've been blind to what's right in front of my face. Dimdel's method is so simple yet looks to be effective as it is. {image}
Ok thanks!

Why would you have entered on that red candle? Just curious
Blindly following others will make you blind!
  • #765
  • May 25, 2015 11:33am May 25, 2015 11:33am
Quoting ChicagoRob
{quote} Actually, the red candle's close is below the green candle's close. You're looking at the red candle low, which is above the green candle low. I really don't think you can apply any hard/fast rules about specific candle formations(from my own experience). In my trading, I've done equally as well with outside bars, inside bars, etc. I can't really say if any particular candle type has given me an edge.
Thanks Bob,

Appreciate you're comment on this one. That's my experience as well
Blindly following others will make you blind!
  • #766
  • May 25, 2015 11:53am May 25, 2015 11:53am
Quoting Georgebaker
{quote} Ok thanks! Why would you have entered on that red candle? Just curious

Hi George;

Because the Supply Level held and the Bearish Momentum at the close of the Candle.
  • #767
  • May 25, 2015 12:05pm May 25, 2015 12:05pm
Quoting stevepatt
{quote} Hi George; Because the Supply Level held and the Bearish Momentum at the close of the Candle.
Yeah, ok that should be reason enough
Blindly following others will make you blind!
  • #768
  • May 25, 2015 3:07pm May 25, 2015 3:07pm
hi

i expect big movements
prepare
but sos your MM
  • #769
  • May 26, 2015 2:07am May 26, 2015 2:07am
goodmorning

did you trade the jpy today?
  • #770
  • May 26, 2015 2:08am May 26, 2015 2:08am
i put all tp in 300 fib (all jpy) +trsl
will see
  • #771
  • May 26, 2015 2:26am May 26, 2015 2:26am
Quoting dimdel
i put all tp in 300 fib (all jpy) +trsl will see

Hi dimdel;

Which JPY pairs are you talking about?
  • #772
  • May 26, 2015 2:46am May 26, 2015 2:46am
Quoting stevepatt
{quote} Hi dimdel; Which JPY pairs are you talking about?

I do not understand your question
because it is very easy to see it
WHY NEED CLARIFICATION ?
  • #773
  • May 26, 2015 3:10am May 26, 2015 3:10am
i Think GBP/JPY is a good opportunity for sell
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.jpg Size: 286 KB
  • #774
  • May 26, 2015 3:14am May 26, 2015 3:14am
Quoting dimdel
{quote} I do not understand your question because it is very easy to see it WHY NEED CLARIFICATION ?
I think it's not so easy.:-) Maybe it depends which broker do you have respectively time of your broker and it means how looks yesterday candles in your platform. In my MT4, middle europe time, there isn't entry signal on most of JPY pairs. none candle changed color. Only NZDJPY but it changed to red, so it's SHORT and I think you are in longs.;-)
  • #775
  • May 26, 2015 3:37am May 26, 2015 3:37am
H FxLapozi!
I want to ask you if you trade just this strategy?
  • #776
  • May 26, 2015 3:38am May 26, 2015 3:38am
Quoting dafa
{quote} I think it's not so easy.:-) Maybe it depends which broker do you have respectively time of your broker and it means how looks yesterday candles in your platform. In my MT4, middle europe time, there isn't entry signal on most of JPY pairs. none candle changed color. Only NZDJPY but it changed to red, so it's SHORT and I think you are in longs.;-)

ok
there are 2 ways to trade this method

1) way
trade what you see
dont compare your charts with others
green =up
red=down
if because the brokers you have 2 pairs and i have 4 pairs its no matter

2) wAY
compare your chart with the other traders, try to take similar orders, follow other indicators-price action-formation, etc....

test the 2 ways and take the best for you


example: no need to have the same ( my demo)
Attached Image (click to enlarge)
Click to Enlarge Name: jpy.png Size: 68 KB


but i use 4 brokers and the daily candle when the open and close isnt near then have the same results
  • #777
  • May 26, 2015 3:38am May 26, 2015 3:38am
Some modifications in EA:

1. Open chart in single click
2. Order with Fixed TP or SL as previous H/L and TP as Fibo 1.5
3. If already crossed previous H/L then trigger buy/sell
4. ButStop/SellStop with EOD time expired.

Pending to implement:
1. SL/TP as per different Fibo level as input parameter
2. Trailing Stop as per Fibo level

Testing from yesterday:
History:
Attached Image (click to enlarge)
Click to Enlarge Name: DimDel_EA_History.jpg Size: 134 KB


Current:
Attached Image (click to enlarge)
Click to Enlarge Name: DimDel_EA_Current.jpg Size: 193 KB
Attached File(s)
File Type: zip Dimdel_Daily_Candle.zip   96 KB | 550 downloads
  • #778
  • May 26, 2015 3:42am May 26, 2015 3:42am
Quoting AbhijetPandi
Some modifications in EA: 1. Open chart in single click 2. Order with Fixed TP or SL as previous H/L and TP as Fibo 1.5 3. If already crossed previous H/L then trigger buy/sell 4. ButStop/SellStop with EOD time expired. Pending to implement: 1. SL/TP as per different Fibo level as input parameter 2. Trailing Stop as per Fibo level {file}

really a BIG THANKS

i have work to do now, ...
  • #779
  • May 26, 2015 3:43am May 26, 2015 3:43am
Quoting dimdel
i put all tp in 300 fib (all jpy) +trsl will see
ALL Means
Every one of a class , Complete , Entire
You must realise or should I say realize that only 95% of the United Kingdom can understand English and only 1% of English people
can understand Greek LOL
You must also know there are two ways of spelling REALISE the English way and REALIZE the American way.
I am sure that a foreigner finds it difficult to understand the English language, I admire you for taking the time
and effort to run the Green candle /Red candle thread
Keep up the good work
  • #780
  • May 26, 2015 3:45am May 26, 2015 3:45am
Quoting dimdel
{quote} ok there are 2 ways to trade this method 1) way trade what you see dont compare your charts with others green =up red=down if because the brokers you have 2 pairs and i have 4 pairs its no matter 2) wAY compare your chart with the other traders, try to take similar orders, follow other indicators-price action-formation, etc.... test the 2 ways and take the best for you example: no need to have the same ( my demo) {image} but i use 4 brokers and the daily candle when the open and close isnt near then have the same results
The GBP/ Jpy is not change the candle color
its dogi( i mean the second candle from right)

I think the last red candle is a good entry point
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