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Higher Edge within a Single Candlestick

  • #321
  • Jul 8, 2015 1:21am Jul 8, 2015 1:21am
Quoting forexdave1
{quote} Call me slow, have but I am still trying to understand how I can visually see this. I summed similar pairs and made a line graph indicator, yet I don't see an edge. Any feedback would be greatly appreciated!
hi dave,

This is misquoted as my post its Pipalicious post and maybe he can enlighten you more on what he was trying to say.

i supported this post for the simple fact that that viewing the quotes from related pairs crosses is the best forward indication or this moments flows in or out f a particular currency.i don't use the difference in pip value as they are not relevant and that's why your indicator is not helpful.im watching there values at a given moment ,market stalling point ,and the flows from that point .
  • #322
  • Jul 8, 2015 10:18am Jul 8, 2015 10:18am
Quoting diceman555
{quote} hi dave, This is misquoted as my post its Pipalicious post and maybe he can enlighten you more on what he was trying to say. i supported this post for the simple fact that that viewing the quotes from related pairs crosses is the best forward indication or this moments flows in or out f a particular currency.i don't use the difference in pip value as they are not relevant and that's why your indicator is not helpful.im watching there values at a given moment ,market stalling...
Got it, thx
  • #323
  • Jul 8, 2015 11:06am Jul 8, 2015 11:06am
Let the profits run.

The OP stated he uses a stop only and trails it. What trailing stop methods work best with a trading plan similar to the OP's?
Assume we are using an EA to automatically exit a trade.

1 min atr14 trail?
Avg wick trail?
Capture 1R then trail?
Maybe trail pip by pip?


Thx!
  • #324
  • Jul 8, 2015 11:20am Jul 8, 2015 11:20am
"95% of the time price will close above or below the open." Amateurs will never see the edge in this quote, unless a professional point it out where the edge lies within this quote.

Interesting thread. Reminds me of something I saw years ago. Top number is the high minus the open. Bottom number is the open - low. The takeaway is trading in one direction, all of the time, can be profitable when you manage risk properly. The edge is to be found trading in the direction of the daily candle.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 28 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #325
  • Jul 8, 2015 11:25am Jul 8, 2015 11:25am
... even better on the daily.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 32 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #326
  • Jul 8, 2015 2:36pm Jul 8, 2015 2:36pm
Quoting forexdave1
Let the profits run. The OP stated he uses a stop only and trails it. What trailing stop methods work best with a trading plan similar to the OP's? Assume we are using an EA to automatically exit a trade. 1 min atr14 trail? Avg wick trail? Capture 1R then trail? Maybe trail pip by pip? Thx!

The only ones who can answer your question are the ones who have figured how to trade this. And they wont give this away fro good reason. Anyhow, crucial point gives a hint in one of his post on this thread
  • #327
  • Jul 9, 2015 4:31pm Jul 9, 2015 4:31pm
Quoting Sis.yphus
Been seeing a lot of people talking about using the previous candles close direction as a way to give an indicator of what the next candle will do. Hate to burst any ones bubble but the previous CLOSED candles provide no edge at all. If candles matter, the ONLY one that will and does is the current(this applies to CANDLES not PRICE, they are very different. candles are made up by price. Price is not made up by candles). Please see the study I did a few weeks ago(copy and pasting from an email I sent a buddy the other day so I apologize if it is...
Saw that years ago on another forum that can't be mentioned here.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #328
  • Edited Jul 12, 2015 3:10am Jul 11, 2015 4:12pm | Edited Jul 12, 2015 3:10am
So ultimately what was the point of this thread? OP comes in with a bold statement about some bullshit about some higher edge within a single candle stick and then proceed to say "naa naa I know the secret but I won't tell anyone naa naa naaa" I mean what's the point then in starting the thread.

People like OP and CrucialPoint are cancer to these forums, they throw about great claims, never proving anything, never teaching anyone anything and just throwing around voodoo magic phrases "the ocean waves go up and down oooo do you not see??? The ocean is unpredictable ooooh just like price is oooooh so spooky don't you see????" then they'll say shit like "oh if you don't get it, you're stupid". Rather it is you who is stupid as you can't even convey your ideas clear enough that anyone can ever make any sense of it. Wasn't it Einstein who once said something like " if you can't explain an idea simple enough you simply don't know the idea well enough"? I forget the exact quote...

But ultimately even if bullsh*tters like OP and CP have truly a secret to the market they won't reveal anything of merit here, I mean I don't blame em, niether would I. But then what do these useless threads provide? Nothing more than ego stroking masturbation. They love it when noobs hook line and sinker on their "words of wisdom" they feel good inside and feel like big shots. All the while leaving their trail of "golden nuggets" (nuggets of sh*t more like) that the newbies latch on to and then waste mountains of time trying to decipher the cryptic messages left behind. Wasting their own time and energy.

Newbies....please, save yourself a massive headache and time and ignore threads like these. they will lead you nowhere.

P.S. I know I will get lots of flame for this post, lots of people coming out and defending CP and OP but in the end they can never quantifyabely prove anything they ever "learnt" from them was of any REAL WORLD usefulness. Just proverbs and quotes and mystic writings....
  • #329
  • Edited 5:23am Jul 12, 2015 3:23am | Edited 5:23am
Another way to the open method is to observe a candles opening price let it bottom or top out from observing time frames below and trade it back towards it opening price. More so then not a candle will retest it opening price to either turn the candle into the opposite of what was originally being seen by penetrating the open or it will be rejected by falling short . The idea here is to look at what a candle has not done
  • #330
  • Jul 12, 2015 5:12am Jul 12, 2015 5:12am
Quoting TerryTibbs
So ultimately what was the point of this thread?
Terry, my advice to you is to look into some of the ideas presented here - or create your own if you think they're too vague - and analyse them, preferably programatically and over many bars. That's what I did, and I can assure you that it was worth the effort

But don't take my word for it. Don't take Neio's. Don't take CrucialPoint's. Always always do your own research and prove to yourself whether it works or fails and, more importantly, whether it suits your personal trading style. If you don't then you won't have the confidence to trade it yourself, through both the good times and the bad times.

Oh, and in answer to your question above. The point of it was to make you think. No one's going to hand you their secrets on a plate. Well, almost no one. I've seen some kind souls here do exactly that, but they are few and far between.
You reap what you sow.
  • #331
  • Jul 12, 2015 5:53am Jul 12, 2015 5:53am
i'll try to explain my thoughts... i don't claim to be an expert...maybe my thoughts help you...if so that would make me happy. ok.so heres what i'm thinking:

the following would be something interesting to try.

plot the daily opens on a monthly chart.

plot the 4 hour opens on a weekly chart.

plot the 1 hour opens on a daily chart.

5 minute opens on a 4 hour chart.

1 minute opens on a 1 hour chart.

compare each daily open until after the monthly candle closes. <do the same for the timeframe combos as shown above.> 95% of the time where is price? answer: not only higher or lower than the open but very far away....

now you can see the full effect of price moves from the open...because you can see it after it has moved a lot. so even guessing which way it will go or straddling, you can envision a plan to make profits from trading with the single candlestick and the edge that price will move very far away from it. hope that is correct and helps

yes posting a bunch of ego maniac garbage and not explaining it simply is wrong. no its not worth arguing about here on this forum

2 cents
  • #332
  • Edited 7:45am Jul 12, 2015 6:59am | Edited 7:45am
http://www.forexfactory.com/showthre...03#post8376103 the guy in this commercial thread developed systematic way to take advantage of the markets tendency to continue a candlestick.

there is a youtube video where the trader was showing how he enters the markets on Tuesdays because statistically markets reverse on Tuesdays more often than not i.e the weekly candle opens goes one way until tuesday..then reverses.......then i found out its been a known fact in trading since the beginning... nothing new at all.... they cal it turn around Tuesdays.... so a weekly candle opens goes up on Monday then he expects it to reverse...he even knew what time on Tuesday it usually happened... i forgot...shows you how much i paid attention...

basically the beginnings of the candles and then waiting a bit....are good times to trade... its really that simple...so simple in fact that...we all appear to want to dismiss it as not that important, because our egos think we can figure out exactly what to do with some magic indicator.... i think the point of this thread was that knowing what the deal is with a single candle, its all you really need to understand to make a fortune trading with some wise MM. maybe there is other anamolies to see with a single candle stick. i don't honestly know. that's just my 2 cents guys...like i said..i'm not an expert at all. what say the rest of you folks?

Thank you to the thread creator. after re-reading the posts in the beginning of the thread and participating in the thread, my view of the markets has been altered for the better, so there is that. what more could anyone want form a thread on a public form. again thanks to all.
  • #333
  • Jul 12, 2015 9:48am Jul 12, 2015 9:48am
Quoting TooSlow
"95% of the time price will close above or below the open." Amateurs will never see the edge in this quote, unless a professional point it out where the edge lies within this quote. Interesting thread. Reminds me of something I saw years ago. Top number is the high minus the open. Bottom number is the open - low. The takeaway is trading in one direction, all of the time, can be profitable when you manage risk properly. The edge is to be found trading in the direction of the daily candle. {image}
Hi TooSlow! I hope it's not too much i'm assing for, but could you please share he indicators that plots the numbers on the chart?
Thanks in advance,
S.
  • #334
  • Jul 12, 2015 10:39am Jul 12, 2015 10:39am
This thread is becoming way of topic. We are talking about trading the developing candle regardless of the previous candle
  • #335
  • Jul 12, 2015 11:03am Jul 12, 2015 11:03am
imho this topic should be renamed to "higher edge within price in a defined time range"

A Candle is an indicator which shows 4 stats of the price over a defined time.
No matter if you call it Candle or Susan - if price goes up in this period (bullish candle)
you can bet for a continuation and vice verse.

but dont get fixed on one single candle even a great reversal pattern can start within one candle.
As i said it is just a indicator and it laggs as all indicator does (it laggs between those 4 defined points).

So basically that is not more than a discussion about candle indicator patterns

See my old posts here:
http://www.forexfactory.com/showthre...22#post7537622
http://www.forexfactory.com/showthre...38#post7540238
just do it
  • #336
  • Jul 12, 2015 11:08am Jul 12, 2015 11:08am
The reference point keeps me grounded. As you can see from my explorer I do set a SL but don't like to set a TP. I like to keep that open to expose my trade to much larger movements in my direction if the force is with it.[/quote]

http://www.forexfactory.com/showthre...19#post8175519

Oh i see now.
  • #337
  • Jul 12, 2015 11:13am Jul 12, 2015 11:13am
By the time you look at the candlestick once formed the edge is already gone.

Having stats on a single candlestick is no different than stats on previous X candles.


So the question is how to get an edge of a reference point aka price level.


I
Double the account
  • #338
  • Jul 12, 2015 4:21pm Jul 12, 2015 4:21pm
Quoting SputnikX
{quote} Hi TooSlow! I hope it's not too much i'm assing for, but could you please share he indicators that plots the numbers on the chart? Thanks in advance, S.
They are not mine to share.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #339
  • Jul 12, 2015 4:26pm Jul 12, 2015 4:26pm
Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 52 KB


Price moves from open to high and from open to low. This is the frequency distribution for the last 100 days showing the validity of the claim about the edge.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #340
  • Jul 12, 2015 5:14pm Jul 12, 2015 5:14pm
Quoting NorthTrader
{quote} Terry, my advice to you is to look into some of the ideas presented here - or create your own if you think they're too vague - and analyse them, preferably programatically and over many bars. That's what I did, and I can assure you that it was worth the effort But don't take my word for it. Don't take Neio's. Don't take CrucialPoint's. Always always do your own research and prove to yourself whether it...
The problem is there is nothing "to go prove myself" as their is no trading strategy or clear idea presented to prove! That is the problem.Now look at the posts from Steve, then compare them to anything EVER written by CP or OP. They are world's apart. I can go away and take something useful from Steves posts and put them in action. This is where I can go an "prove something to myself".Besides I am too busy making my own money with my own trading strategies to bother and try and decrypt mystic writings of OP or CP lol.You have to seriously ask yourself; if CP or others like him REALLY wanted to help people then WHY DONT THEY? Instead they tease with their "amazing" ideas and then run away without revealing anything in the end. Like I said before they are just ego stroking, their aim is not to help anyone. Believe me I have seen this many times over in numerous areas of my life. Egocentric people are so easy to spot.
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