the goji system, for lack of a better name

[gojilover]

i have been having very good success with a very simple system. in the system i use the following:

5 min. chart

10 ema

candlesticks

usd/chf

tp = 50, move stop to break even at + 25, follow with 10 stop to 50
s/l = 25

two -25s and you quit for the day, hitting +50 in any combination and you quit for the day.

strategy; with a close above 10 ema, place a buy stop at the nearest 5 or 10 above the high of the closing candle. if the high was 1-2-3-4, set buy stop at 5; 5-6-7-8-9, set buy stop at 10; set 50 tp, 25 s/l and work your trade.

use the opposite of the above for a short trade.

keep your buy/sell stop open until you get hit. if you do not get hit and price reverses above/below the 10 ema, close the trade and redo all of the above in the opposite direction.

[gojilover]

Two Trades:


Long - 8:55 Est At 1.3335, Reached High Of 1.3371
S/l Moved To Be At 1.3360
Profit Taken At 1.3361, Using Trail Stop Of 10

Tp = + 26


Short - 10:35 Est At 1.3375
Be At 1.3350
Profit Taken At 1.3325

Tp = + 50

Tp For Friday = + 76

[BrianDuffer]

Not sure about something.

Your rules say quit at +50 but you make more than that.

Please explain the reason you didn't exit when at +50.

[gojilover]

hi brian,

there are two trades listed. in the first i got stopped out for a 26 pip profit. i then went to my second trade of the day and took the 50 pip profit.

total profit for the day, 76 pips, 26+50.

[gojilover]

hi all,

mon. oct. 6th, trades:

this has been good for me. that is writing out my rules. naturally, i forgot something. i will not allow a winning trade to turn bad, thus my +25, and move to break even, BE rule. i do move to break even sooner and today was a good example of that. once a trade is positive by 10 or more, i do start shortening the stop/loss, not to BE right away, but i do start shortening. i try to shorten my losses as much as possible as i know i am not far from another trade. they come around often, most days.

also, i only trade between 8:00 am until 11:00 am est. my 4 trades today were:

10 - 25 and back to 10, = 0
00 - 80 and back to 0, = 0
05 - 29 and back to 05, = 0

and finally:

20 - 70 just before 11:00, started at 10:35 actually, est gave me my 50 pips

since inception, oct.3rd, +126 pips

gojilover

[gojilover]

hi all,

results, tues. oct. 7th, '08

enter, short 1.1400
exit, 1.1406, re-cross of 10 ema, -6

enter, short 1.1385
exit, 1.1381 re-cross of 10 ema +4

enter, long 1.1385
exit, 1.1385 do not allow winner to turn into a loser

enter, long 1.1385
exit 1.1430 exit at 11:15 because i wantd to quit, with profit for
day

profit for day, +43
since inception, +169

[dblyson]

dear goji, i am finally starting to get the hang of your system! i am +21 pips for today alone and it is beginning to be pretty consistent. thanks again, and happy trading

[charithjanitha]

I checked following posts: # 307, 309, 725, 732, 759 but still couldn’t figure out the setup you use for a/u.

Please help me out.

[gojilover]

hi all,

chasing, i know you are trying to learn the new system. the answer to your second series of questions is easier to answer than the first series, but it is far more involved. i will run through my analysis prior to 2:00 am and you will have to tell me if this helped:

1:15 candle indicated a possible reversal, short
1:25 candle could have been a reversal but it was not, still thinking short
1:40 candle indicated a reversal, 1:35 was below lower line and there was a pinbar on the 1:40 candle. (I WAS MAKING THIS ANALYSIS AT 1:55 AM)

1:45 though candle was not near upper line, it also had a pretty good sized pin bar to the top, which indicates a possible short/reversal. this candle was key to my still thinking short.

1:50 & 1:55 were both red supporting my thinking this should be a short
2:00 candle was green and if following the rules should have been taken, i chose to wait one more candle.
2:05 candle was an inside candle and i had it in mind to take the break either long or short.
2:10 i could have jumped in at .7284, the breadkdown, but that was near the mid line. i chose to wait for the candle to close. through much of this time, remember, i was thinking short.
2:15 i took the trade but thought initially i would only get several pips because it was approaching the lower line. TO GET A TP TRADE OUT OF THIS TRADE REALLY SURPRISED ME!

i hope this explanation helps. it sort of indicates one of those times that you stray from the rules because you feel like you have some good reasons. now, if only they could work out like this every time. we all know they don't

char, now i am not sure what you mean by set ups. i would like to help you but we need to be on the same page first.

the morning's second trade, (chasing, there was no rule to exit this trade either, i just wanted to lock in a positive trade, as it appeared i had missed all of the big moves of the morning)

9:15 long, .7256
9:23 exit, .7262 +6, +29

back at 3:00 pm all,

goji, bernie

[k7420]

long at 3:00pm .7262
out 3:02 .7269
easy 7 pips