@smacko: that is correct, once the stop order is filled close all opposing signals I’d your broker doesn’t allow hedging this can become problematic because the stop order will be deleted rather then placed, so I have to place an alert that tells me when price is 1 pip away from the stop so I can manually do it
I know what you mean, even now I still wanna kick myself for every pip I missed, these are the times we must learn from our mistakes and come back with a plan! I would seriously write down the reason you enter and exit each trade, this will keep you in check and let you know exactly how you messed up if you do something incorrectly :3 personally though I’m exhausted, my mind is fried from too much work, and on vacation no less,I think I’m going to take a break for the week, or maybe just demo trade to reduce stress, I actually like picking out random patterns and trading them for fun on demo accounts it’s like a puzzle game, anyways yesh I’m not going to trade anymore if I don’t have the time to do so, so that when I do I’ll have my trade journal and checklist ready, forex is a business! I’m taking every precaution to keep me at 100% efficiency
Here are my signals as I interpreted and traded on GBP/JPY this week.
After a bad start, almost 100 pips in profit, which is in $$ only half of it, And as my spread is pretty big on gbp/jpy (7 pips) the profit was eaten away. However, I have not taken the rule in count what jawa told me about bid/ask price and setting your Take profits including the spread. But maybey you can use the image to see what my signals where.
This morning’s last trades had one SL, two full TP and one half TP, now trading compounding AUDJPY with another buy, and buys on two other pairs, nothing on AUDUSD…whoop whoop.
@jonkie76: impressive Jonkie, you trade it better than me!
@mathewli: Feel free to use it on any pair you want The past couple months the volatility on the low spread pairs has been too low for my liking, but recently they have been high enough for these settings of course you could trade them anytime just with smaller stops and take profits
Not sure where your getting these, I’ve traded about 9 signals this week 1 full TP, 1 half TP and 7 hitting SL
I was considering writing this week off and starting again next week.
Is anyone using the mobile application TradeInterceptor?
I’m using FXPro mobile but it never seems to match up with anyone else’s signals (not that I was bothered before but this week has been pretty depressing).
@slipperywhippit I’m currently using trade interceptor at the moment on my iPad and iPhone, main reason being I work so need to check the candles in the day! I’m struggling with the system at the moment to be honest, I want to make sure I can crack it on demo before going live, night time candles are getting hard to wake up for for demo pips!
What candle close times does everybody use? Seems to be a bit of an issue at the moment! Just want to know so I’m looking at the same charts that get posted in this thread! Thanks guys
I think every journal should be comprised of these things:
Order#
Date
Time
Pair
Buy/Sell
Lots
Entry
Stop
TP
Exit
Pips
Dollars
Reason For Entry
Reason For Exit
Trading With Trend?
Comments
Trading Errors
I myself am going to start using one Here are some pros and cons of trading journals:
Pros:
You have added assurance you are trading the system to the letter
You can see and learn from your mistakes
You have bookkeeping records to put in your memoir on your rise to riches
Cons:
It will take as much time as you do trading to fill it out
Personally I think this will be a great help forex trading is a business and this is the perfect way to make sure you are not only properly trading, but that you keep treating it like a business, along with this i have completed the checklist, I’m 99% sure i haven’t left anything out so you can use the checklist before every trade without fear the checklist and this post will be on the first post
p.s. I can’t attach excel doc’s so i couldnt post my own journal :\ but you can easily make one of your own or google one
I use trade interceptor for Ipad…it has option where you select the TF to change the close…I have it set at EST 00:00…this appears to be the same as SJ’s and has been giving me good results…note: the one hour TF shows the same candles, it’s the 4 hour TF that is different…my server says this current 4 hour candle will close at 20:00
@jawa in the top right corner press the tf button and it is at the first option in the menu, you have the choice of 00:00 est close or 17:00 est close, I’m guessing on the charts you trade from it would be 00:00 close?
I’m on GMT+1, however we now have daylightsaving. So at this moment right now the Dutch time is 21:14. However, my broker on the last minute candle says 19:14, so I have a 2 hour difference with my broker(forexyard). I have the same candle formations as SithJawa.
@slipp3ryWhippit: I backtested the 17:00 EST close times just now, The system does work perfectly fine on it sometimes better than 0:00, sometimes worse, but it does work, so i think some of the problems people might be having are due to maybe forgetting some of the rules or missing entries or etc. I would strongly suggest making a trading journal and using the checklist
Just finished doing some chart art for GBP/JPY when I saw you already upped it. It is interesting that my charts look exactly the same except for the very first Pin Bar on your chart. Unfortunately I cut it off on my chart but I dont get a Pin bar but a normal bearisch candle with a body of about 60% of the candle.
Im working with IBFX Mt4 and the next 4h candle is closing in 1 hour.
@SithJawa
Could you please take a quick glance at out interpretations of the market and see if we missed anything?
Im curious if the evening star Jonkie marked is valid in your opinion. Furthermore there is this candle with almost no body at all on 5th June, 20:00. This could be a Pin Bar if you can zoom in close enough with a sell signal on 1h. Do we just ignore it because its so small or is there another rule filtering it out?
Unfortunately I didnt have the time to demo those trades but by just looking at this chart we got 2 SL hits amounting to -80, then 3 buys hitting half and full tp for a whole 155 pips followed by another SL hit and 1 trade running with +20.
So until now the week would be positive with 95 pips.
I’d your broker doesn’t allow hedging this can become problematic because the stop order will be deleted rather then placed, so I have to place an alert that tells me when price is 1 pip away from the stop so I can manually do it 
it’s like a puzzle game, anyways yesh I’m not going to trade anymore if I don’t have the time to do so, so that when I do I’ll have my trade journal and checklist ready, forex is a business! I’m taking every precaution to keep me at 100% efficiency 
Here are some pros and cons of trading journals: