Follow the monthly candle and be profitable | Page 96 | Forex Factory

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Follow the monthly candle and be profitable

  • #1,901
  • Edited 4:21pm Jun 5, 2015 11:49am | Edited 4:21pm
See only EURUSD this week

Closing D1 (orange box)

Entry green and red arrows

Other couples who had the 1st sailing D1 on 04/06 and we would do the entries on 05/06.

EURJPY
AUDUSD
AUDJPY
GBPAUD
EURGBP
EURCHF
AUDNZD
AUDCAD
AUDCHF


NOTE:

GBPUSD SYRUP DENYING THE ASCENT,'D SELL
USDCHF SYRUP NEGANDOA DESCENT,'D BUY
EURCAD SYRUP DENYING THE ASCENT,'D SELL

OF ALL THESE WOULD HAVE TAKEN PAIR IN STOP GBPAUD.

GOOD WEEKEND FOR ALL.
Attached Image (click to enlarge)
Click to Enlarge Name: EU D1 05062015.png Size: 116 KB
  • #1,902
  • Jun 7, 2015 8:05am Jun 7, 2015 8:05am
Why is this thread in commercial content?
  • #1,903
  • Jun 7, 2015 3:16pm Jun 7, 2015 3:16pm
Quoting paradoxical
Why is this thread in commercial content?
Friend to this day do not know why the Factory forex put me as a trading member ... I can not say ...
  • #1,904
  • Jun 7, 2015 3:20pm Jun 7, 2015 3:20pm
Quoting Robinho
{quote} Friend to this day do not know why the Factory forex put me as a trading member ... I can not say ...
It's crazy. You ever have as much as hinted you were doing this for some monetary benefit.
  • #1,905
  • Jun 7, 2015 4:28pm Jun 7, 2015 4:28pm
Back in February people were posting to send Robinho money. Once there is talk about money that is enough to go to commercial section. They could even get put thread into trash bin once money enters the thread.

Second risky thing is letting commercial members post in the thread. That can make it a commercial thread too. If you see a commercial member post on your thread it is best to ban them from the thread.
  • #1,906
  • Jun 7, 2015 6:43pm Jun 7, 2015 6:43pm
Quoting BlackStack
Back in February people were posting to send Robinho money. Once there is talk about money that is enough to go to commercial section. They could even get put thread into trash bin once money enters the thread. Second risky thing is letting commercial members post in the thread. That can make it a commercial thread too. If you see a commercial member post on your thread it is best to ban them from the thread.
OK, thanks for the explanation.
  • #1,907
  • Jun 8, 2015 3:28am Jun 8, 2015 3:28am
Quoting BlackStack
Back in February people were posting to send Robinho money. Once there is talk about money that is enough to go to commercial section. They could even get put thread into trash bin once money enters the thread. Second risky thing is letting commercial members post in the thread. That can make it a commercial thread too. If you see a commercial member post on your thread it is best to ban them from the thread.
Ban?

Always put my ideas and never earned anything ... There are few people who put their photo in avatar ... I'm not here to collect anything or hide anything from anyone ...

Just going through a very easy system,,, that requires a few minutes a day ...
  • #1,908
  • Jun 8, 2015 9:10am Jun 8, 2015 9:10am
Quoting Robinho
{quote} Ban? ..

Click on the person's name. There are three tabs at the top row. Click on the Ignore tab and then they cannot post on your thread.
  • #1,909
  • Jun 8, 2015 10:30am Jun 8, 2015 10:30am
Hey!

I can't send you PM, so I'm going to ask you here. I read all the thread but was not able to find answer.
Can this strategy be used on Daily time frame or just on Monthly as you said in first post?
Is trading on Daily chart only for 10 pips TP?

Thank you!
  • #1,910
  • Jun 8, 2015 11:02am Jun 8, 2015 11:02am
Quoting Jure86
Hey! I can't send you PM, so I'm going to ask you here. I read all the thread but was not able to find answer. Can this strategy be used on Daily time frame or just on Monthly as you said in first post? Is trading on Daily chart only for 10 pips TP? Thank you!
Short answer is Yes. Check post 1570 and read from there for the Daily time frame rules.
  • #1,911
  • Jun 8, 2015 11:47am Jun 8, 2015 11:47am
Quoting Jure86
Hey! I can't send you PM, so I'm going to ask you here. I read all the thread but was not able to find answer. Can this strategy be used on Daily time frame or just on Monthly as you said in first post? Is trading on Daily chart only for 10 pips TP? Thank you!
Yes, as Tom has just posted. Also dimdel has started his own thread with a slight variation called Daily green/red candle that you can check out.
  • #1,912
  • Jun 8, 2015 9:01pm Jun 8, 2015 9:01pm
Focus on operations

EURUSD BUY
EURJPY BUY
GBPUSD BUY
GBPJPY SELL
AUDUSD BUY
NZDUSD BUY
NZDJPY BUY
SELL USDCHF
CADJPY SELL
USDJPY SELL
EURAUD BUY
GBPAUD SELL
GBPNZD SELL
EURCAD BUY
GBPCAD BUY
GBPCHF SELL
EURGBP BUY
EURCHF BUY
AUDNZDSELL
AUDCAD BUY
NZDCAD BUY
CADCHF SELL
  • #1,913
  • Jun 9, 2015 3:12am Jun 9, 2015 3:12am
Robin, can you tell rules for Daily time frame? Sl, TP, Trailing stop if there is...
Or update post #1 with all the rules, for Monthly and Daily trading.

Thank you!
  • #1,914
  • Jun 9, 2015 8:41am Jun 9, 2015 8:41am
Quoting Jure86
Robin, can you tell rules for Daily time frame? Sl, TP, Trailing stop if there is... Or update post #1 with all the rules, for Monthly and Daily trading. Thank you!
Monthly post 01
daily read post in 1570 and 1571

Each make your TP planning and STOP ... most couples follow the direction of the 1st candle changed,,, I gained + 38 pips only on EURUSD today ... DO YOUR planning. DO THE TESTS IN DEMO ACCOUNT ... AND DO Schedules,,, HAS ITS DAY THAT RUN + DE 100 PIPS COUPLE AND OTHER DAYS ... NO WE WILL NOT WIN A HILL OF PIPS,,, ALWAYS DO AN AVERAGE TP ... DO TESTING, AND SEE WHAT IS BEST FOR EACH ... WILL NOT STOP EXITIR A TP E EXACT
  • #1,915
  • Edited 5:11pm Jun 9, 2015 12:20pm | Edited 5:11pm
Robin - This request is just to make it simpler to set entry orders and stops.
The request is:
Can anyone code an indicator such as a modified fibo indy that will allow me to set it as follows: 0.000 = Daily Open 1.2000 = Pend Entry (20pips)
1.4000 = Take Profit (40pips from open) -1.5000 = Stop Loss (50 pips below open)
These need to be flexible inputs -- some may want to TP more some less etc.
Then each day at Open I can slap this on the chart and know exactly where to place everything quickly. Should speed up a lot.

Ideas anyone?

In Dimdel thread there is an indy Fibo v5z that does this type of thing at the High and low of the previous day not the open.
  • #1,916
  • Jun 10, 2015 1:04am Jun 10, 2015 1:04am
Hey!

What should trader do if TP or SL is not hit? Will leave trade till next day or close it at the end of the day?

Is today Sell day or not?
  • #1,917
  • Jun 10, 2015 7:22am Jun 10, 2015 7:22am
Here is a toy for everyone:

My programming skills are extremely limited so caveat emptor. However, the monthly strategy from post 1 seemed simple enough I was able to use my editor to throw something together. However, I discovered that the MT4 backtester doesnt give you the option of using a larger timeframe than Daily so it was a little trickier to come up with something I could use for back-testing. I was able to get around that but had to cheat by hard coding in the dates going back to January 1st, 2014.

This EA is only good for back-testing from January 1, 2014 through the end of June 2015. It will not work going forward. However this will allow you to test different TP and SL values for each pair and see what works best. Default values are TP = 60 and SL = 100

Here are the results for a few pairs. It did well on some but not on the GU. The AU was not doing well but my computer crashed when the test was almost done. With different settings the AU and GU might do better

If its any good I will spend a little more time and make another EA for using going forward.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ test.jpg Size: 146 KB
Click to Enlarge Name: GU test.jpg Size: 152 KB
Click to Enlarge Name: AJ test.jpg Size: 148 KB
Click to Enlarge Name: EU test.jpg Size: 147 KB
Attached File(s)
File Type: mq4 Monthly Open with test dates.mq4   94 KB | 443 downloads
  • #1,918
  • Jun 11, 2015 6:38am Jun 11, 2015 6:38am
Quoting Jure86
Hey! What should trader do if TP or SL is not hit? Will leave trade till next day or close it at the end of the day? Is today Sell day or not?
Hey Robinho, why don't you answer me?

And today is BUY I'm I right?
  • #1,919
  • Jun 11, 2015 11:13am Jun 11, 2015 11:13am
Quoting Jure86
{quote} Hey Robinho, why don't you answer me? And today is BUY I'm I right?
Friend,,, as I said,, everyone has to do their planning ... have a system that takes just 05 pips,,, I need another 100 pips ... you have to see the best ... put Tp short or long? put TS (Trailing Stop)?

Do your planning ...

Day sailing 10/06 closed EURUSD with a,,,,,, syrup denying the climb ... today would certainly be a sell ...
  • #1,920
  • Jun 11, 2015 12:30pm Jun 11, 2015 12:30pm
Ok, tell me, how is today SELL?
Attached Image (click to enlarge)
Click to Enlarge Name: Robinho.jpg Size: 72 KB
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