Quad Candle System | Page 14 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How to make EA that send Open Price of Candle for every new candle 5 replies

Day's first H4 candle correlation to daily candle 14 replies

Correlation between first 4 hour candle and daily candle 1 reply

quad core multiple CPU's, multiple MT4 sessions, Virtual Machine 53 replies

Attachments: Quad Candle System
Exit Attachments

Quad Candle System

  • #261
  • Jun 13, 2017 5:08am Jun 13, 2017 5:08am
Quoting OAPDave
Played the + 1/8 back to the 8/8ths for a quick 20 pips {image}
Nice work ....

The little green ones all add up.

Masterrmind..........
Master your Mind then Master your Trades
  • #262
  • Jun 13, 2017 5:10am Jun 13, 2017 5:10am
Mastermind this might be a tad off subject but I thought I would mention it to see if it gets any reaction, I think we all know how to spot the Quad pattern by now so I just want to highlight a bar that I have nicknamed the WHY BAR, it is a bar a little bigger in range (NOT VOLUME) than normal, what I look for is this bar to appear in certain areas, think you can guess what they are, then if its a big up bar WHY does it get broke on the low very quickly and what is the result, this seems ok and does work for scalping with the advantage of giving small stops, high-lighted this on the chart shown and its the reason for me taking the trade
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYSBM1.png Size: 49 KB
  • #263
  • Jun 13, 2017 5:28am Jun 13, 2017 5:28am
Quoting OAPDave
Mastermind this might be a tad off subject but I thought I would mention it to see if it gets any reaction, I think we all know how to spot the Quad pattern by now so I just want to highlight a bar that I have nicknamed the WHY BAR, it is a bar a little bigger in range (NOT VOLUME) than normal, what I look for is this bar to appear in certain areas, think you can guess what they are, then if its a big up bar WHY does it get broke on the low very quickly and what is the result, this seems ok and does work for scalping with the advantage of giving...
Candlestick patterns can play a very important role.

Each one has a little story to tell.

The WhyBar ... sounds good.

Masterrmind......
Master your Mind then Master your Trades
  • #264
  • Jun 13, 2017 9:08am Jun 13, 2017 9:08am
Quoting Masterrmind
LIVE EXAMPLE trade of EURCAD on a different trading account The setups of the top trades (in my opinion) will apply to the trading account attached to the TE here (Quad Candle Live ). As a learning exercise I did take the EURCAD short on another trading account. I was not going to post the chart here because I did not want to confuse anyone. However, this trade may provide some valuable learning material in how to handle the ongoing trade management tasks. Here is the live trade taken on EURCAD D1 of a Quad Pattern: {image} I will now use this trade...
Live EXAMPLE - continued

EURCAD

+150 pips are now locked in.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 22 KB


Price has moved 250 pips down from entry level and now rests at the green support zone.

Lets see if price can continue its journey lower at least to the next lower green support zone (refer chart).

Note that I have tightened up the stop as price interacts with the support zone, main reason is the possibility of a bounce in price back up the chart.

To limit the potential loss that such a bounce might cause the SL has to be tightened.

But its a good 100 pips above current price so in no way is the trade being strangled.

Trade Management software can assist here however, this trade will be trailed manually which means that once I leave the platform the SL level will remain where it is until tomorrow.

This creates an unfavorable situation because the trade will be unassisted for several hours (maybe 6-8 hours).

If price decides to drop lower very very soon before I retire for the night then I may lock in 200 pips.
If not then the stop will be left at the +150 pips.

Lets see.

Masterrmind............
Master your Mind then Master your Trades
  • #265
  • Jun 13, 2017 9:27am Jun 13, 2017 9:27am
Quoting Masterrmind
{quote} Live EXAMPLE - continued EURCAD +150 pips are now locked in. {image} Price has moved 250 pips down from entry level and now rests at the green support zone. Lets see if price can continue its journey lower at least to the next lower green support zone (refer chart). Note that I have tightened up the stop as price interacts with the support zone, main reason is the possibility of a bounce in price back up the chart. To limit the potential loss that such a bounce might cause the SL has to be tightened. But its a good 100 pips above current...
Don't you just love it when a plan comes together, very cool my friend, with trading like that its just a pity the thread can only attract lurkers not posters
  • #266
  • Jun 13, 2017 10:05am Jun 13, 2017 10:05am
Quoting OAPDave
{quote} Don't you just love it when a plan comes together, very cool my friend, with trading like that its just a pity the thread can only attract lurkers not posters
Yes its a shame forsure.

This is one reason why I will post so many before the fact trades or clearly genuine trades as the one shown now and then the live examples by me will suddenly dry up to just the odd few.

This is because I really dislike the "milkers" who copy trades without any interest to learn trading.

Different story if they show an interest.

Here is the follow up to the EURCAD in M15 format (note the DD)

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 27 KB


ps. maybe I'll start trading 5 or 10 or 25 lots per trade and see if anyone wants to learn .... but why would I even bother ... ha ha ha.

pps. something to do with crawl, walk and then run (gradually trade bigger lots that is to say once the experience has been gained)

Masterrmind.........
Master your Mind then Master your Trades
  • #267
  • Jun 13, 2017 10:19am Jun 13, 2017 10:19am
Quoting Masterrmind
{quote} Yes its a shame forsure. This is one reason why I will post so many before the fact trades or clearly genuine trades as the one shown now and then the live examples by me will suddenly dry up to just the odd few. This is because I really dislike the "milkers" who copy trades without any interest to learn trading. Different story if they show an interest. Here is the follow up to the EURCAD in M15 format (note the DD) {image} ps. maybe I'll start trading 5 or 10 or 25 lots per trade and see if anyone wants to learn .... but why would I even...
EURCAD

+175 pips now locked in.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 27 KB


Really would like to lock in 200 pips before I rest but not a lot of chart structure to 'hide' the SL.

Masterrmind............
Master your Mind then Master your Trades
  • #268
  • Jun 13, 2017 10:28am Jun 13, 2017 10:28am
Quoting Masterrmind
{quote} EURCAD +175 pips now locked in. {image} Really would like to lock in 200 pips before I rest but not a lot of chart structure to 'hide' the SL. Masterrmind............
EURCAD

Ok time to hit the hay (go to sleep)

Locked in +225 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 24 KB


I expect the trade to be taken out as this trail is far too tight on a D1 setup but not being able to manage it further I've decided to lock in as many pips as possible.

Masterrmind..............
Master your Mind then Master your Trades
  • #269
  • Jun 13, 2017 10:47am Jun 13, 2017 10:47am
Quoting Masterrmind
{quote} EURCAD Ok time to hit the hay (go to sleep) Locked in +225 pips. {image} I expect the trade to be taken out as this trail is far too tight on a D1 setup but not being able to manage it further I've decided to lock in as many pips as possible. Masterrmind..............
EURCAD

Price contiues to drop now at more than 280 pips.

Locked in +250 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 21 KB


Night all I'm off to rest.

Masterrmind.............
Master your Mind then Master your Trades
  • #270
  • Jun 13, 2017 11:14am Jun 13, 2017 11:14am
Mastermind and OAP Dave, just wanted to say a big thank you to you both, I am learning so much here and I really appreciate the time and effort that you both are giving me. I may not post much but i am reading and learning all the time. Thank you.
Just trying to put a kiss on the cheek of success
  • #271
  • Jun 13, 2017 6:09pm Jun 13, 2017 6:09pm
Quoting Masterrmind
{quote} EURCAD Price contiues to drop now at more than 280 pips. Locked in +250 pips. {image} Night all I'm off to rest. Masterrmind.............
EURCAD - now closed out.

+250 pips

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 26 KB


END OF EURCAD LIVE TRADE EXAMPLE

Masterrmind...........
Master your Mind then Master your Trades
  • #272
  • Jun 13, 2017 6:11pm Jun 13, 2017 6:11pm
Onto the next setup

Masterrmind.............
Master your Mind then Master your Trades
  • #273
  • Jun 13, 2017 6:14pm Jun 13, 2017 6:14pm
Quoting pet3250
Mastermind and OAP Dave, just wanted to say a big thank you to you both, I am learning so much here and I really appreciate the time and effort that you both are giving me. I may not post much but i am reading and learning all the time. Thank you.
Nice to hear it.

Let's hope for a positive learning environment.

Masterrmind..............
Master your Mind then Master your Trades
  • #274
  • Jun 13, 2017 6:53pm Jun 13, 2017 6:53pm
Quoting Masterrmind
{quote} EURCAD - now closed out. +250 pips {image} END OF EURCAD LIVE TRADE EXAMPLE Masterrmind...........
Good call. But then again this is based entirely differently from your Quad Candle System. In fact you took out the order.
  • #275
  • Jun 13, 2017 7:19pm Jun 13, 2017 7:19pm
Quoting AstroStudent
{quote} Good call. But then again this is based entirely differently from your Quad Candle System. In fact you took out the order.
No its based on a Quad Candle entry please refer D1 Chart and a previous post showing the Quad pattern.

Taken out by progressively tightening the stop, market took me out, not me closing it.

This trade was useful as a learning example even though due to a manual trailing approach it should be evident that the stops were being tightened more than what they should on a D1 setup.

A major pullback up to the topside now will be the only evidence to suggest that the trade was trailed well or not well.

Its always a battle when attempting to extract plenty of pips from a given trade because no-one knows how much into the TP the trade will run before it makes a major reversal and heads completely in the opposite direction.

At the end of the day though a 250 pip gain on a trade is ... I'll let you decide.

ps. All future entries will be posted from the account attached to the TE.

Masterrmind............
Master your Mind then Master your Trades
  • #276
  • Jun 14, 2017 12:03am Jun 14, 2017 12:03am
WEDNESDAY Watchlist

CHFJPY

EURGBP

Cotton

XNGUSD

XPDUSD

UK100

US30

Trade setups may be of the form:
a) Quad + MML,
b) Quad only or
c) MML only.

Working in the background on the fundamentals but most likely back around London Open.

I will be monitoring this thread though.

Masterrmind.............
Master your Mind then Master your Trades
  • #277
  • Jun 14, 2017 1:06am Jun 14, 2017 1:06am
GBPNZD - can also be added to the watchlist

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 43 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #278
  • Jun 14, 2017 2:53am Jun 14, 2017 2:53am
EURUSD
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 43 KB


GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 48 KB


... and then

EURGBP
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 49 KB


What are the charts trying to tell you?

Masterrmind............
Master your Mind then Master your Trades
  • #279
  • Jun 14, 2017 3:17am Jun 14, 2017 3:17am
Guys I think the lack of posters is now testing Masterminds patience to the limit, its as plain as the nose on your face how much detail the guy puts into this thread and his own trading it would be a crime and your loss if he decides to call it a day, just post a chart with a question and give the guy a chance to reply, he is not a signal service so please give your ideas as to why you would or wouldn't take the trade that interests you, surly its not to much to ask ?
  • #280
  • Jun 14, 2017 3:24am Jun 14, 2017 3:24am
Quoting Masterrmind
EURUSD {image} GBPUSD {image} ... and then EURGBP {image} What are the charts trying to tell you? Masterrmind............
Think about EUR strength or weakness

Think about GBP strength or weakness

Think about the major news on the EUR and GBP currencies

Which direction for the EG pair appears to be logical?

1. UP
2. Down or
3. Neutral

Is it worth trading or best left alone?

Masterrmind............
Master your Mind then Master your Trades
0 traders viewing now