Market Predatorfx58

Greetings to everyone,
I hope when you have made your first visit here you are in "good health". This is your first visit but not your last, since your experience here will create that spark to keep you burning with interest and the drive to make and keep profits.

In this thread my only aim is to share the strategies that i have overtime put together with aims of creating a set and forget system.
I have had a 9-5 (JOB) since i have been introduced to trading, which i love but have been experiencing a thug and war between it and trading. I have been leaning more towards trading though.
I have done quite a bit of research and development over the few years, some traders may have seen these methods before but i know for others it will be their first time.

My preferred method of trading is with expert advisors as it removes emotions and overall human errors. I chose to use E.A.'s due to the fact that I always miss the best setups due to sleep or working.

I concentrate on capitalizing on most if not all opportunities presented by the market. doing breakout trades, trading ranges, reversals etc.
Through all the content found online, i have fused what i consider to be the good aspects of each.
My trading has brought profits and we all know if not managed well, the market will take some if not all.
My system is not perfect but my sole purpose is to get it as close as possible to perfect with the help of great traders and coders here on FF.

Most of my trading has surround the way Wyckoff had looked at the market and i found this out just recently, when the light bulb came on.
Below will be the diagram for which my system is geared towards capitalize on. My trading over the years, have brought me to the different stages of the diagram but i hope to capture it in full with one system or a combination of systems.


Thanks for stopping by.

Share your thoughts and findings...It is recommended to share your thoughts, to know if you are on the right track.
N.b. Fill out the Cheat Sheet, it will be evaluated to know if you are on the right track.
Sowing a seed into this thread will enable you to have similar experiences whether favourable or unfavourable in your reaping.

A Note to All who visits:
Past Results are not indicative of future results. Illustrations used were live market structure and results of the financial markets.
This strategy/system is only a means of Research and Development and should be used only as a means of education.
The author: PrinceJ58 will not be held responsible for any miss-use of written information, links or data found on this thread.


Cheers!

Breakouts

I will address breakout trading over the Asian session, we look for consolidation, where candles are trapped in a tight box and it moves up and down from support and resistance, where the idea will be to place two pending orders above and below the range at a distance of about 10-15 pips depending on the volatility of the asset and let it ride after the breakout.

What i have found is that a trending market versus a ranging market prior to the European/London open reacts differently respectively, these formations are also best observed on the 15 minute chart.


Nb. These same formations also occur on the higher time frames, which will yield larger profits and different timeline for maturation.
The higher times that i would observe would be from M 15 to the daily chart.

Further updates will be done later on today...

I am excited and cannot wait to add the rest of information...I hope all who read and browse this thread will be getting some ideas, light bulbs turning on, seeing the light at the end of the tunnel. Each trader/Investor will be different where comfort level is concerned and you may choose which ever section of the system that you prefer to concentrate on.
I am no expert, but the ideas and strategies that i implement have change other traders experience in the market for both Forex and Binary Options and i hope it helps somebody else...So until then, keep well.

Nb. Don't forget to subscribe in order to receive updates as i post them...

There is absolutely no reason that the market should behave this way.
As a matter of fact your guess of any market phase is as good as anyone else's
Hindsight is always 20/20
But do not despair, what is important is what you think you see and how you engage with it.

Good Luck with your new thread my friend .

Oh boy here goes this complicated garbage again that has never made money for anyone and makes no sense whatsoever... anyway goodluck with your thread OP!

Hmmm I see a pattern emerging. You are a troll and you need to behave yourself. Leave others to express themselves and their trading style the way they want to without having to endure crap from you. Just because you don't do it doesn't mean it doesn't work.

PrinceJ58,
Ignore him, he has history. Keep going.

Thanks for all those who have spent time to read thus far, we have just started and will continue. Thank you for your thoughts everyone, they have been read and considered. Shifting out the bad and leaving the good is the main aim here. I am also sure that many thoughts will come through and combine to create something of worth.

I will continue with the range breakout, Displaying the ease of tools/indicators that make life much easier in identify the ranges for potential breakouts.
Each asset has their own volatility and average daily range that they move daily. Just like the laws of nature an inflated ball that is suppressed under water, will not remain constricted for too long.

The smaller the range the larger the breakout. Over time you will see the pattern more often. You will find similar formations on other pairs over the Asian session but different size ranges.
All i did was to place pending orders One Cancel the Other (OCO) or Leave it with stop loss attached. At times it may continue in New York session however it does not always happen this way so you may either take profit or set a trailing stop above your initial target.

Just imaging higher time frame similarities, whereby the larger the time frame the larger the pips and duration respectively. For everyday trading the m 15 will present more opportunities. Just imaging some traders who only require 10 pips per day for their reward and they are finish for the day, and one asset can give you 50 pips or more, they would complete a week worth of trading with this one setup. Cheers!

For those who are interested in seeing the possible results from their own charts, I will post a few Session based indicators. These indicators are found free on FF and other online sources. If you have any that is suitable for this strategy you may share them as well.

The aim is for you to observe the formation on your own charts being the M15 chart time-frame, starting with the majors first. Concentrate on the movements
from Market open Est. time-Sunday through to Thursday, you may find the setup on Fridays too.

Indicators on the Chart above is:

1. MM-Sessions
2. 6 Exponential Moving Average (ema)-Yellow

You may also use other ema's as you desire or see fitting for the identification of possible breakout direction. Some use both 50 and 100 ema by observing where it is positioned in relation to the range, whether it is above, running through the range or below. Some have also used other directional based indicators to help them determine their bias for the likely directional price break. Those indicators may include and are not limited to the use of pivots, macd and such the like.
I choose to keep it simple as you see in the picture above, you may state your preference or findings here.

Entry Rule:
We place both Buy and Sell pending orders (10-15) pips away.

Buy Entry

 

1. At the resistance of the range- we place Pending Buy Stop
2. Stop-loss should be placed at the opposite side of the range-support.
3. Take Profit can start at 2:1, 3:1 and higher depending on the assets daily range.

Sell Entry

 

1. At the support side of the range-we place pending Sell Stop
2. Stop-loss should be placed at the opposite side of the range-resistance.
3. Take Profit can start at 2:1, 3:1 and higher depending on the assets daily range. Therefore if the range is 25 pips then your stop-loss would be 25 pips while the Take profit would be (2:1)= 50 pips or (3:1) 75 pips. This ensures that every win will cover for each loss, when the event arise. With a 2:1 or 3:1 risk to reward will in the end keep you profit.

The broker I used at the time had One Cancel the other for pending orders through trade station which is link to netstation (black Charts above). One Cancel the other, operates in a unique way, where by when one order is triggered the other one is automatically canceled. Nevertheless, there are times when price breaks both levels during the London session or New York session. So it would be wise to either close half of the position upon reaching the initial target, as well as move your stop-loss to break-even or in profits after say 30 pips or as you choose for a free trade.

When do we get the best ranges in the market leading up to a good breakout with good momentum? Yesterday June 5, 2017 was one of those days, with AUD, GBP and USD correlated pairs?
When trading breakouts we need momentum to drive the market and push our trades in our favour for fast and quick pips?

This materializes well during strong fundamental events, where we apply technical analysis to capture what happens in result of the announcements...
Inflated ball under water must emerge...

This week offered many opportunities for successful trading of breakouts, reversals and such the likes.
Thursday into Friday Eastern Time offered us another opportunity.

Throughout Asian session leading into New York Session gave good results as expected with the line up of a ranging market. Our candidate this time was USD/CAD, with a Prime Setup for those who hold the indicator in their hands this week. Should this pair, be traded by those following would have gotten the least 60+ positive Pips gain on your account on one asset.

Cheers!

i like where this thread is going and the effort the op has put into explaining his trading style, keep up the good work

Thanks for being such a great friend over the years i have known and worked with you...


Thanks for being such a great friend over the few years, i have worked with and known you...
I hope this project could be an easy one for Excellent Coders like yourself...I am willing to get any help i can with this project, It should be simple, i think for any advance coder. I have been creating system after systems and based on what i have seen it do from the start of my journey until now. My dream/Goal would be for full automation of a set and forget system.

When my Really Happy Day comes for full automation of my set and forget system here on Forex Factory like many who have created great systems like you A.K. I would love to see it help others.

A fully automated system should be able to:

Part A:

1. Identify the normal pip range of the assets,
2. Identify Red News
3. Identify ranges that are obviously tighter than average daily range
4. Place Stop orders at the Resistance and Support area + Spread with S/L at the opposite end of the range T/p minimum should be 1:1 pips But i prefer 1:2-1:3,1:4,1:5 etc Risk:Reward respectively. When one aims for a higher Reward:Risk the long term effect is a profitable outcome, one trade may be able to cover 1 or 2 previous losses, especially if a trade was triggered on both sides.
5. Filter out False breakouts
6. Take Profit system to close out a portion or move S/L closer, Trail T/P whichever one is easier

Part B:

If no Range-How to trade Range or Breakouts

7. Range markets can be traded- Yes, through the use of Cam. Pivots R3 to S3 which identifies bounces or rejection.
8. No prior range = Don't worry, (Market Orders) within the session breakouts can be identified by Cam. Pivots @ R4/S4. In this scenario we can utilize tools using pivots in identifying True Breakouts. Buy Direction over the region of (R4 Breakout zone upwards with T/p @ R5-R6, S/L= below R3) While Selling Pressure at S4 Breakout zone Identifies the Breakouts downward with T/p @ S5-S6 & S/L @ Above S3.

10. Incrementally Increase Lot size by account growth while exercising good Margin on the account.
11. A fixed Time slot for sessions and be determined by user for GMT=Difference as GMT 1, GMT 2, GMT 3 etc. Based on the brokers MT4 Time.
12. Lastly be able to make money, like the pictures show it can do- Probably show last trade win or loss for assets-Dashboard like. THANKS

Your welcome djms, there is more to come.

As long as someone responds and shows their interest apart from reading and trying out in silence i am willing to share more of the knowledge i have gained along my trading Journey. I have done research and development on MQL Coding of E.A. Indicators etc, with hard earned 9-5 money alongside having a high living expense.
So i am hungry to earn in an informed and legal way, helping others who are willing to learn to do the same through this thread.

Trading profitably can be done and has been done by many, so i am just willing to share, i know it will help someone. I believe the market has more than enough for all of us. So sharing my way of looking at the financial charts available to everyone will not take away from me benefiting from the markets. We all have one life to live and my aim is to help others who are less fortunate. Whether through helping them in getting a job, business, food, shelter, clothes, etc. We tend to sometimes forget where we are coming from or could have been and that there is a bigger picture to life.

More to come, stay tuned Cheers.

There are added tools that can be utilized to help identify the likely direction a trade will take...

Such as, yes some lagging indicators like:
Moving averages
Macd
RSI
Stochastics
Pivots
Fibonacci
CCI
TDI
Price Patterns-flags, pennants, triangles etc breakout formations

Everyone has their preferred tools and ways of looking at the markets.
The first thing any trader should do is identify firstly what their preference in trading is: Trend trading, Breakout, scalping, reversals, range markets, etc.
I am a breakout trader, so when i see ranging markets i get excited for what is to come. However in every system there maybe critical points and it is for you to identify them in order to minimize, eradicate or manage them.

Feel Free to post your charts, comments and findings.

For Setting up the MM Session or any other sessions Indicator.
Please to visit http://forex.timezoneconverter.com and this site will help to identify the hours that should be imputed into the indicator settings, then after you can save the template and apply it to other charts.

Remember there is an overlap for the Sydney and Asian session, Asian and London session, as well as London into New York session so the two colours will blend into each other.

I combine Sydney and Tokyo into one. based on my time it is two hours after US Session.
I don't trade "Chf", so i havent really observed their open with the Sessions indicator, for the reason of the high spread and Margin required to keep a trade versus the payout i get.

You can change the colours which will be good for your memory identification I Choose bright colours like purple, orange and sky blue. Overtime the colour coordination will be better for easier candle identification and ease of eye pressure.

I will wait patiently until you arrive to the point of discussing your automation.

Its posted in (#13) I could not help but share it, since sharing the knowledge will be the only way to know if it is simple (KISS Method), where by even a newbie would be able to easily experience success with it as well. For me i believe in giving to provide room for receiving, so i have i chosen to share in high hopes that it will help others.
Apart from earning figures on your account, sharing it would be the only way to know whether it has any real value, through constructive critiquing from my role models right? Those who have walked this road before me.

No for a little summary of how i look at the pivots...Daily, Weekly, Monthly

IF price remains above the daily pivots we are looking for Long Trades
If price remains below the daily pivots we are looking for Short Trades

Cam Pivots for Bounce and Breakout trades whether there is a range or not...

i like to learn more.i m bigginer.how we start?