Bought all pairs, had to bring out the “chains” to see if wick was 50% on AJ and AU…right at 50%…again using a little less than full ATR, 50 pips for all pairs except GJ, which is 60 pips. (ATR shows 70 pips for that one!)
I’m undecided if this will be last trade or 12:00…I guess it depends on 12:00 signals?
Bit confused about the ATR apparently.
When I pull up the ATR set at 14 in Trade Interceptor for EJ and GJ the ATR values are between 20-30 which would be total full TP @ 40-60 pips, how did you get up to 100-120?
@slipperywhippit are you on the 4h timeframe when checking atr?
Good call Juicy, it was indeed the 1H chart I was looking at.
No worries I had the same issue at first
yep, needs to be 4 hour chart for ATR, and, boy, more than just a few pips difference from the “old way”
With proper MM this doesn’t make a difference, the variable pip size just gives you a dynamic price range for given market conditions.
It allows the trade enough room to breathe while still trying to hit a certain level in the direction you expect price to go.
The fact that it is 10 or 1000 pips is irrelevant because you are still risking a set % of your account with RR being 1:1 for the first half, 2:1 for the second half (obviously and hopefully helped with compounding factors further along).
@pipcompounder: You should do a manual backtest over the past few weeks with the ATR to see for yourself that it works wonders, or Atleast a few visuals 
in slower markets it goes as low as 35-40 pips, and in this market as high as 70! But it is miraculously perfect at picking targets, you just have to trust it, And hey could you maybe post a picture of some of your trades for the week or your account history? I think it would be great motivation for others
Also personally I wouldn’t trade the 12 candle, I would just close my positions, but that’s just me the reason for that is that you’ll only have one candle to make your pips, and if you try to close it late you’re stuck with it over the weekend :l it looks like there might be some compounding signals brewing from the 8 oclock candles, but is it worth the risk?
EDIT: in fact it looks like morning stars on every chart :O!!
Very intriguing system, Jawa. Just a question - what pairs have you backtested? Just the ones mentioned in your first post?
@KingKaivar: yes the only pairs I have EXTENSIVELY backtests over months and years are the 4 pairs on the first post, but since the system is based on market psychology it works on all pairs I know for a fact it also works on EUR/USD, USD/CHF, GBP/USD, EUR/NZD, and GBP/NZD, and now because we have the ATR stops and tp’s not only can it be used in any market condition but it can be used in any market 
I will work on spread sheet showing trades and attempt to post it…I started this on late Monday…right now, even with open trades that are just about at half TP on some, my floating profit is $100 on 0.01 lots since that time I started.
@pipcompounder: anything would be great thanks that is ALOT of pips, 1,000 if im not mistaken :O! Very good for your first week I’d say 
@jawa: did some backtests with ATR, getting a lot of extra pips when your going the right way.
having to calculate the lot size for the dynamic stop loss will delay the entry on market if theres a lot pin bars at once…
do you use a script in mt4?
thinking about get a 10.1" netbook for when i’m not home, the mobile doesn’t really cut it… or i might get this Toshiba libretto W105-L251 7-Inch Dual Touchscreen Laptop
Hey Jawa,
I did not get in the trade but I am aware that had I been in, well it would have made for this face 
. As I stated before I am still learning forex, but I am getting much much better at reading the indicators and signs. I noticed that there were quite a few more stars forming when I awoke this morning too :). To be honest, I am more concerned right now with looking for signs, and I am going to play with the ATR this weekend over the charts of this past weekend to determine where I would have placed me SLs and TPs.
Would you mind sending me an email at pipsftw @ y a h o o . c o m, I have a question I’d rather not post here.
Thanks again for this great thread!!
@smacko: yep yep, as i said when i backtested it its average in ranging and trending markets is 30% extra profit
And generally I enter all my stops and tp’s after i place my orders, meaning i look for and validate the signals at candle close, enter my positions, place stop losses on all my trades, place take profits on all my trades, that is the way i do it but obviously it would be a little safer to find a way to do it faster, there might be a script to post the ATR of the previous candle on the screen, i’d try googling it
woooow that looks awesome :O! but definitely, getting a netbook is a great idea, its what I did and i can say im really enjoying it, its only a few pounds so i barely feel it, i get to carry a stylish leather satchel (Indiana Jones had one so you know its awesome), and most of the time i can just leave it in my car and go back to it for 5 minutes before going back to whatever i was doing, i was worried the keys would be too small or something but it isnt a problem
@jmacar: Yep i havent looked but it looks like there is a morning star on every single chart of course i wouldn’t trade them because its already 12 on a friday :\ Yeah i would suggest demo trading it until you know you aren’t making any mistakes and can consistently make profit backtesting would be a great idea, i emailed you
@jawa: won’t you be changing the lot size based on the dynamic stop loss? to keep the risk level the same for every trade.
defiantly going to check out the netbook idea, going to borrow one tomorrow and try it next week.
@smacko: yep yep we only have so much margin to utilize unfortunately so if we risk too much per trade we won’t have enough margin to trade 4 pairs and compound profits, 2-3% is generally the best risk if you’re trading 4 pairs because it gives you enough money to spread out over 8-10 trades
What I do is trade on 4 accounts, one for every pair they compound separately and I can see which pairs are best and etc. I myself risk 5% per trade but that is of course only on one pair for each account, so really for money management their are two options:
Pick 1 or 2 pairs and trade them with higher risk, or trade 4+ pairs and trade them with lower risk
Hi SithJawa,
Great system you have! Just need your help on below to clear my doubts though.
- When signal A indicates sell & I sell, after sometime signal B indicates buy. Should I buy signal B? What I do with trade A?
- When signal A indicates sell & I sell, after some time signal B indicates sell. Should I sell again? Trade A hold?
- Priority morning/evening star, then pin bar, than inside bar?
- If star indicates sell, close all previous buy?
- Do you hold your trade over the weekends?
I know that’s quite a lot of questions. But seeing you being so helpful to forum friend I guess you might help.
@Sith Jawa, may I ask you when do you changed the rules to use ATR? Also, the ATR is for 4 hours time frame or for 1 hour time frame?
In the description of your system, you placed an example of 3 consecutive signals of indecision bars… what happens if you have 5 o 6 indecision bars in a row? Do you compare the close of the first with the close of the last and if the last is above the first buy and if the last is below the first sell?
Thanks!
-EDIT
Do you use some trader discretion? or follow the rules like a machine?