I made an error looking at last candle that cost a lot…now down to 107 pips…
On GJ and EJ, I previously had buys from midnight, and I thought the next signal invalidated them, so I closed them at a loss, but it wasn’t a valid pinbar, body too big…had I kept those trades open…
The valid pin bars on AJ and AU which showed sell trend, closed above previous candles lowest low, so, according to the rules, I should have ignored that signal, and kept the buy position I had on the AU open, nothing was open on AJ…
I will have to be more careful about reading the charts, had I left everything alone at last candle, would have about 1000 pips!
ouch, thats a painfull one, but hey, ya probably learned from that one now …
It sticks to you better when it’s real money…I’m trading micro lots on this, so that means I was up $81 for week before that gaff…I’ve been counting total pips of each lot traded so each actual trade has two lots so I can close one at half TP…definitely proves the system works, you just have to work for it.
No trades on last candle, BTW…although I see three of the pairs hit full TP, now…wish I was on that train…
You are still positive, and all positive pips are good pips 
Just wondering because I ALWAYS forget that rule: If we get a buy pin bar and then on the next bar a pin bar with sell on 1h, does the second pin bars close have to be below the lowest CLOSE or lowest PRICE of the previous pin bars 1h candles to be valid?
niX1990
From my notes I have gathered while reading the thread:
“what to do when having multiple signals after each other and with different opposing signals.
Jawa told you have to check the closes of 8 candles, for 2 signals, or even 12 for 3 signals and so on.”
As stated above (was my line of txt haha, you noted in your writing, hahah).
Yes you do check the close of all the candles that made those 2 or even 3 or 4 pinbar signals.
The very last one has to be the highest or lowest close of all candles if you gonna open that position in the opposite direction.
I did find a minor bug in the order to determin if a candle is of what type, and plotting it on screen for the Bar 1, Bar 2 and so on. However, I can not find a mistake in plotting the BarFormation on screen. But please download the latest version in which I fixed this minor bug, and check if it helped.
If anybody has tradeintercepter with FXCM demo feed, with 00:00 EST close charts, you can see the 08:00 candles, and for AU and AJ, if you zoom in to 1 hour, the close of the first one hour candle of the previous 4 hour candle, 04:00, was way lower than the close of the last candle of the 08:00 four hour candle, so I should have ignored signal…and you can see the size of the candles of GJ and EJ, that they were not valid pin bars…should have slept through 3am alarm…
Hey everybody,
I can’t thank you all enough for having an easy to understand system that I have been playing with/reading non-stop. I am still very new to the world of Forex, but I have learned quite a bit over the past week. Anyways here are some questions I had:
I see the nice pin bar on the 4H chart and go back and verify on the 1 hour, which shows that the last candle closed lower than the first candle (sell). When I enter the order, I wanted to get in a 100.80, had my SL at 101.20, and my TP at at 99.9 (I originally had the TP higher, but I was able to modify it because it had already shot past it and I would have been able to take a profit because I didn’t get the order in, in a timely manner). I would have been able to take a 90 pip profit, had I not screwed up how I placed the order. Did I enter the information into the order right, because the order didn’t give me the TP and kept open?
Red arrow shows what I saw on the 4H chart, purple arrows show what the price did after I placed the order, and the pips I would have been able to earn had I not screwed up how I placed the order. (The lower candle with the purple arrows is now red, but happened to be green at the time of the screen capture)
Sorry for the long winded post, just excited about this.
Thanks.
JMaCAR-
If your saying you placed the order after it already came up in price from the close of that last candle, than your SL and TP settings should be based off of the close price of that last candle, which would be a little bonus for you if it hits TP, but SL is closer, but that’s ok, that’s the system. I have same trade direction as you for this, sell.
edit: my EJ trade has SL 100.52 and TP 99.72/99.42
Hmm ok. I still am learning, but at least I read the trade right :). I will make it a point now to base everything off of the close of the last candle. What was your SL and TP for that if you don’t mind me asking? Your entry was the close of the last 4HR right?
THanks
@everyone: i’ll try to answer everyones questions in the time i have
@pipcompounder: That is probably the only problem i see with this system 
its like you have a pip training moving your account balance up into the sky, but if you forget to lay or mess up laying a piece of track it all falls down :3 This system relies heavily and reading each candle for direction so most of the time it can change on a dime when sentiment and momentum do But yeah i know how you feel aha, i messed up a few trades earlier this week and it cost me, i strongly suggest that while you are still ahead you take the time to try to study the rules even further, have the checklist, maybe even start a trade journal for a week or two so at the end you can look back and see what your mistakes were and how you can improve on them awesome job this week regardless! you did better then me although i agree its irritating to have to be at a computer to ACCURATELY calculate candle lengths :\ so i decided to go out and buy one of those light travel laptops and I got wifi tethering on my iphone, so now whenever i am trading and out, i will have a nifty satchel at my side with a laptop too whip out and use i’ll never make the same mistake again :[…
@jmacar: I unfortunately dont have an ultra amount of time so i will try to keep this simple, you are correct that the 4 hour signal was a valid indecision candle, but when you zoom in to the 1 hour chart that is the problem
All you do with indecision candles on the 4 hour chart is determine whether or not they are a valid signal by looking at candle lengths, the long wick has to be equal to or greater than 50% of the total candle length, and the body of the candle has to be equal to or less than 35% of the total candle length, so by looking at the 4 hour chart you determine with these percentages if the signal is valid, and in this case it is
So now we have a valid signal but which direction do we trade, buy or sell? We zoom in to the 1 hour chart to see what’s going on, this is where the mistake was made
The 4 hour signal is comprised of 4 hours, meaning 4 one hour candles, the 4 hour signal in GMT time is the 12 candle, but because 4 hour candles have 4 hours in them it is the 12-4 candle, meaning that when you zoom in to the 1 hour chart the candles you use to determine direction are the 12-1, 1-2, 2-3, and 3-4 candles, the way you determine direction is this, if the close of the last one hour candle in the 4 hour signal is lower than that of the first candles close, sell, if it is higher, buy, this particular signal was a sell
And as i see it price hasnt moved that much, i think you are confused because you have a five digit broker, meaning the last number in the pip amounts is called a pipette, basicly a decimal, a fraction of a pip, so when you saw 90 it was actually only 9 pips
I suggest this to everyone, but you should go through the babypips school a few times it is invaluable knowledge to have, study it, learn it all, and once you do i would start going in to the forums and start looking at peoples strategies and picking them apart, find out how they work, why they work, how you could make them better, their weaknesses, their strengths etc. You will learn SO MUCH, good luck trading!
posting like crazy…
I will continue to trade according to rules, but I am “secretly” hoping this week ends like last week, where the signals are very solid, with lots of pips.
@pipcompounder: Well surprisingly all week has had solid signals, if anything i’d think these upcoming signals will be the ones to lose because price is teetering around MAJOR resistances right now, this is the make or break point for price, either it will break though or bounce back down :3 Again i suggest you learn from these mistakes and put some extra effort into memorizing the rules and make sure you at the least ask yourself why you enter each trade, this will keep you following the rules much better good luck!
Thanks sith. I downloaded metatrader 4 from Forex.com because I thought I had read that is what you use? I find it odd it’s in pipettes and not pips…
@jmacar: I do use forex.com 
using pipettes is much better as it gives an entirely new level of accuracy with price, just remember that the final number in price is a decimal number and you’ll be fine, it is confusing at first but again you want more accuracy in price at all times
Just got finished with the current EURJPY chart and, even though I didnt have the time to trade, the system has another winning streak going.
Please take a look at the chart and see if I made any mistaked or missed signals.
From left to right, we start with a nice insidebar that hit full tp.
Some invalid pin bars and then a morning star. Question: Did i miss an evening star or was it invalid?
The morning star was followed by an inside bar which was followed by a pin bar with buy signal.
All 3 buys hit full tp. The pip count would be higher because we wouldve moved the TP of the previous trade when opening another buy trade but I cant seem to edit the text in Paint.
A few candles later another Pin bar with a buy signal hitting full tp. Few candles later again pin bar for buy with a little retracement but then turning around hitting full tp.
Now we have a sell position running which wasnt affected by the next pinbar as it didnt make it through the filter.
Hope I got everything right so far.
I think I dont got the evening and morning stars down. Looking at the morning star that i marked on my chart the second bar is not really an indecision candle as its body is over 35% and no wick is longer than 50% of the candles range.
VERY NICE! nx1990, great trades…I added another sell trade myself on that last candle since it agreed with prev candle on my charts, just barely below first 1 hour candle’s close, and moved first trade’s sl and tp up a bit…also GJ and AJ hit first TP!
I’m definitely thinking about changing charts, I know logically it shouldn’t make much difference but a quick scan for this pair on my current chart is a whole different story.
I wouldn’t have classified the morning star as one.
@ jawa (or anyone else who can answer!) I find the explanation of morning star formation confusing, jawa says to determine the trend by averaging the highs and lows of the first candle in the formation and the three before it, and then says if the first candle in the formation closes higher than the average buy and vice versa for sell, does he mean if the Final candle in the formation closes higher than average buy and opposite for sell? I have an interesting PDF on how to handle inside bars also, am I ok to post on here, just one I found trawling the net lol