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  • #81
  • Apr 7, 2016 12:46am Apr 7, 2016 12:46am
Quoting dmostpips
My rant for the day. I'm constantly surprised (and annoyed) at those looking for "proof" for a system, and expecting to find that easy out to follow someone else without taking responsibility for their own trades.
Yes, good point! This is one of the few good reasons (maybe the only one?) for not giving an indication of how profitable an existing system is. You don't want someone whining about how they can't make any money out of it and calling you a liar just because they aren't trading it the same way as you. Maybe that's what Winston meant by the reason "because I'm not selling anything". I guess I was still jet-lagged yesterday because that reason didn't make any sense. Giving results because you are selling something? Of course. Not giving results because you aren't selling anything?

Anyway, the main point I was trying to make (not very successfully it seems) is that trading is a numbers game. If you don't monitor your performance then how do you know you're on the right track? Without hard stats it's just hopes and dreams. Whether you share those stats is a personal choice, of course. But without a good reason, like the one you gave, other people can only make assumptions.

And you're right... full credit to Winston for sharing his system. It takes courage and effort to do so, and of course generosity.
You reap what you sow.
  • #82
  • Edited 3:16am Apr 7, 2016 3:04am | Edited 3:16am
Quoting NorthTrader
{quote} . full credit to Winston for sharing his system. It takes courage and effort to do so, and of course generosity.
Glad you said that in the end, because up till then I wasn't coming across that well.

I am also glad that Winston did not get goaded into answering those newbie type question you listed! Why - because how much he does or doesn't make is none of our business. My generation would think it rude to ask and in any case to do so is missing the point. He is kindly sharing his ideas. The question is not what his blotter looks like, it's whether we can see value in his ideas and make them our own so as to trade them successfully.
Good Trading
  • #83
  • Apr 7, 2016 3:16am Apr 7, 2016 3:16am
This is what I thought Winston was doing when I looked at his charts on the first page.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.7_4.png Size: 23 KB



This is a possible example happening now on a lower T/F and the reason why it's not necessarily a good one - ie it's got a S&R line through the middle.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.7_4.png Size: 20 KB
Good Trading
  • #84
  • Apr 7, 2016 2:02pm Apr 7, 2016 2:02pm
Sorry for the delay. This is how I see CHFJPY weekly.

Attached Image (click to enlarge)
Click to Enlarge Name: CHFJPYWeeklyApril72016.png Size: 36 KB
  • #85
  • Apr 7, 2016 2:12pm Apr 7, 2016 2:12pm
Attached Image (click to enlarge)
Click to Enlarge Name: CHFJPYDailyApril72016.png Size: 43 KB
Here's the daily. This is not something I've talked about. Remember on the weekly chart price did not close above the weekly LBC. On this chart we can see daily candles above the weekly LBC. To the left there is an impressive daily bearish LBC. So even thought those daily candles are not inside the preferred entry zone this is when a daily signal candle can be played. Note the bearish long legged doji and what price did afterwards before dropping. this is why I am still in the NZDUSD trade.
Attachment
  • #86
  • Apr 7, 2016 2:15pm Apr 7, 2016 2:15pm
I noticed on skype some of you have guest accounts and they have expired. I'm not sure what this means. Do I need to do something or is it something you all need to do?
  • #87
  • Apr 7, 2016 4:33pm Apr 7, 2016 4:33pm
Quoting Winston Reed
I noticed on skype some of you have guest accounts and they have expired. I'm not sure what this means. Do I need to do something or is it something you all need to do?
something they all need to do (like make an account or login with their outlook.com account)
  • #88
  • Apr 7, 2016 6:54pm Apr 7, 2016 6:54pm
Weekly showing important LBCs. LBC 1 has not been closed out yet so theoretically it is in play. LBC2 is this weeks candle so we still have tomorrow and price could still close above LBC1 and thus kill it.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeeklyApril72016.png Size: 44 KB

Daily reveals price hovering at the top of LBC 1 area. If price produces a valid signal candle south I would pass as it will encounter immediate support at LBC2. I prefer a signal candle north in LBC 2.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDailyApril72016.png Size: 46 KB
  • #89
  • Apr 8, 2016 8:48am Apr 8, 2016 8:48am
I closed NU trade for -8. It's Friday and this trade does not look like it's going anywhere today and I don't want hold it over the weekend. I'm going to try this weekend to update the PDF and clarify some things and add some other things. If there is anyone who is having problems with access here or with Skype please PM me. So far I'm not intentionally excluding anyone. I will also be insisting on some basic rules for posts so everyone is on topic and too not confuse new traders.
  • #90
  • Apr 8, 2016 8:02pm Apr 8, 2016 8:02pm
Attached File(s)
File Type: pdf Trading.pdf   360 KB | 4,420 downloads

Attached is a revised PDF.
  • #91
  • Apr 8, 2016 8:35pm Apr 8, 2016 8:35pm
As this thread continues I want to establish some ground rules:

1. Although a skype room exists it is not meant to replace activity on this thread. In fact I want to see thread participation prioritize skype participation. I want to see you all post charts with setups and even trades. It's not important if you're on demo or live. No one will make fun of you. I have intentionally limited participation to high impact traders so I can control who posts. I don't want a mish mash detracting from the original method. Those who have taken the time to subscribe and study the PDF are welcome to post here and use the skype room as an adjunct to this thread. Unfortunately if the skype room predominates I will close it. As the thread matures I can see the skype room becoming more important but not now.

2. I want to stick with the method as described in the PDF. That is weekly charts with daily entries. Some have related how they trade similarly on lower time frames and while this may be true to a certain extent I am not seeing charts or examples and actually, and not to be rude, I really don't want to. This is not a multi-time frame analysis thread where we hunt for entry signals on any lower time frame. This is a prescription for inaccuracy and consistent losses. A very important part of this method is using daily Japanese Candlesticks as reversal signals in the weekly LBC preferred entry area.

3. As I've stated before I am very comfortable with how I trade and I'm not really interested in altering the method at this point. I respect anyone's decision to move on if they can't stick with the ground rules and the method as I have described but please respect my desire to maintain the purity of the method.
  • #92
  • Apr 10, 2016 3:43am Apr 10, 2016 3:43am
Hope everyone is having a good weekend. Thought I'd post a chart of AUDNZD, even though I fear this boat may have already set sail..

On the weekly there was a nice BuLBC followed by a doji (which was probably the ideal place to enter a sell - as long as you set your stop loss high enough not to be stopped out by the next candle's high).
Attached Image (click to enlarge)
Click to Enlarge Name: weekly.jpg Size: 90 KB

On the Daily we see a BeLBC back in Mid January which would possibly be a good target.
Attached Image (click to enlarge)
Click to Enlarge Name: daily.jpg Size: 108 KB


If price re-enters the preferred sell zone and we get another bearish reversal candle, would this still be a valid set-up, or has price lingered in this price range too long?
  • #93
  • Apr 10, 2016 5:13am Apr 10, 2016 5:13am
Quoting BubaYaga
Hope everyone is having a good weekend. Thought I'd post a chart of AUDNZD, even though I fear this boat may have already set sail.. On the weekly there was a nice BuLBC followed by a doji (which was probably the ideal place to enter a sell - as long as you set your stop loss high enough not to be stopped out by the next candle's high). {image} On the Daily we see a BeLBC back in Mid January which would possibly be a good target. {image} If price re-enters the preferred sell zone and we get another bearish reversal candle, would this still be a...
Hey Bubayaga. I think you should be looking for a BeLBC for a sell zone. BuLBCs will give us buy zones. However if you look left of your BuLBC, you can see a BeLBC that formed in Sept 15. I'm not at my computer just now but your doji and inverted hammer may actually be in the zone provided by that weekly candle.
Indentify > Plan > Accept > Execute
  • #94
  • Apr 10, 2016 5:29am Apr 10, 2016 5:29am
Quoting wizlon32
{quote} Hey Bubayaga. I think you should be looking for a BeLBC for a sell zone. BuLBCs will give us buy zones. However if you look left of your BuLBC, you can see a BeLBC that formed in Sept 15. I'm not at my computer just now but your doji and inverted hammer may actually be in the zone provided by that weekly candle.
Yes, you're right. I've been looking at them the wrong way round today! Thanks for the correction.
  • #95
  • Apr 10, 2016 6:28pm Apr 10, 2016 6:28pm
​
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPWeeklyApril102016.png Size: 46 KB

Looking for reversal signal
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDailyApril102016.png Size: 38 KB
  • #96
  • Apr 10, 2016 6:35pm Apr 10, 2016 6:35pm
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDWeeklyApril102016.png Size: 37 KB

There was already an entry in this weekly area but there still may be an opportunity to get short on this one. I'm going to wait and see how my Sunday candle closes.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDailyApril102016.png Size: 41 KB
  • #97
  • Apr 10, 2016 6:43pm Apr 10, 2016 6:43pm
Bullish Weekly LBC is clear.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDWeeklyApril102016.png Size: 38 KB

I'm wishing I stayed in this one. Possible buy. I like this better than the AUDUSD previously posted.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDDailyApril102016.png Size: 47 KB
  • #98
  • Apr 11, 2016 5:01am Apr 11, 2016 5:01am
Alright, I think this chart may be ok. USDCHF
On the weekly, we're currently in a preferred buy zone established by a BuLBC back in October.
Attached Image (click to enlarge)
Click to Enlarge Name: weekly.jpg Size: 88 KB

The daily has an BeLBC back on the 10th of March - giving potential target area.. (if sl is put at 0.9465 the R:R is not bad)
Now at first sight it might seem there isn't a potential reversal candlestick (& of course, today's is far from completion*).
But if we combine the Sunday Candle with Monday Candle* I think potential Bullish Engulfer may be forming.
- I think combining Sunday candle with Monday may be acceptable as it's just Early Asian Monday session anyway.
Attached Image (click to enlarge)
Click to Enlarge Name: daily.jpg Size: 100 KB
  • #99
  • Apr 11, 2016 7:00am Apr 11, 2016 7:00am
Quoting BubaYaga
Alright, I think this chart may be ok. USDCHF On the weekly, we're currently in a preferred buy zone established by a BuLBC back in October. {image} The daily has an BeLBC back on the 10th of March - giving potential target area.. (if sl is put at 0.9465 the R:R is not bad) Now at first sight it might seem there isn't a potential reversal candlestick (& of course, today's is far from completion*). But if we combine the Sunday Candle with Monday Candle* I think potential Bullish Engulfer may be forming. - I think combining Sunday candle with Monday...
Agreed!
  • #100
  • Apr 11, 2016 9:14am Apr 11, 2016 9:14am
Quoting BubaYaga ; I think this chart may be ok. USDCHF
On the weekly, we're currently in a preferred buy zone established by a BuLBC back in October.
Attached Image (click to enlarge)
http://www.forexfactory.com/attachme...1&d=1460368209
I am a little confused!! why going back to the weekly BuLB candle in October 2015,we have a recent BeLBC candle in March 2016!
These are the rules from page 1;
1. Start with the weekly chart
2. Identify recent large bearish and bullish weekly candle bodies with bodies larger than the previous 2 or 3 weekly candle bodies. (the candle body is between the open and the close and not the high and the low).
Do I miss something??
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