JÄWÄ's 'Experimental' Price Indecision System

Trading Systems Free Forex Trading Systems
665

@Seablue: aha lets hope this isn’t the week that we get burned by the weekend :stuck_out_tongue: yeah you can never miss a candle, there are A LOT of signals :slight_smile:

  1. Priority is only applied when signals occur simultaneously, meaning that on one candle you have more then one signal become valid, so in this instance and every other instance you would close out your current entry when the stop order from the inside bar is filled

  2. Sure that could work, it does depend on the market though, if the market isnt volatile enough you will make far fewer pips then regular ATR settings, but in a really trending market like this weeks you’d do well :slight_smile:

  3. Inside Bars are only traded as a continuation meaning they are only traded in the direction of the near term momentum, all the rules are on the first page :slight_smile:

  4. You take 4 candles INCLUDING the mother bar of the inside bar, place a buy stop order if the engulfed bar closes above the average and a sell stop if it closes below the average

  5. The only filter in this entire system is a filter for consecutive indecision candles. only indecision candles get filtered

  6. The information is correct except you buy if the first candle closes below the average and is a bearish candle, and you sell if the first candle closes above the average and is a bullish candle

  7. correct :slight_smile:

666

Thank you for your reply!

Regarding your post #1 explaining multiple continuous signals, am I right?

1st 4hr candle indicate buy, we buy at end of 1st 4hr candle.
2nd 4hr candle indicate sell and 8th 1hr candle closes below all 1st -7th 1hr candles, we sell and close previous buy.
3rd 4hr candle indicate buy but did not close above 1st-11th 1hr candle, we ignore this signal.
We currently have a open sell position.

667

@Seablue: any time :slight_smile:

This applies to multiple CONSECUTIVE indecision candle signals

And correct :D! that is exactly right

668

Hi, I am thinking about the new ATR, we use ATR14 (default for MT4) but I am thinking since 6 candles make a full day, will maybe multiples of 6 (6/12/18) be better? Average true range of previous X days… though I doubt the value will have much difference to the result…

Also, in your 1st post, besides being indecision, circle 12 seems like a inside bar that closes above the past 4 candles average, am I right? If yes, should I place 2 trades for this signal?

Enjoy your weekend! And you watch football, enjoy the Euro 2012 too~

669

I’m currently watching 6 pairs and find it difficult to accurately trade those on my demo account as I have a job (after looking through the week in hindsight I would have gained far more pips had I taken the time to properly trade) and I’m considering going live soon so I have two questions.

  1. Im thinking of trading 1 or 2 pairs can anybody recommend what the two best to trade are (if there is such?)

  2. I currently have an account with a spread bettor, I’m not sure what your way is called (trading lots) but which is better and what would you guys recommend for when I go live? Thanks guys

670

Hey Juicy, which Spread account do you use? I’m on a Forex account atm buy really want to switch over. Would it be alright to PM you about this? might be a bit of topic for most people on this thread.

671

Yea of course slipperywhippit, iv tried to pm before and can’t for some reason? I think the main advantage is its quick, and very easy to work out risk per trade against your account balance, iv never used the other method so just wanted to know what others thoughts were on the pros and cons of the different ways of trading, thanks!

672

Damn, this thread exploded… only away for 2 days, and already missed tons of information ;-(

673

Just spent ages typing out a message then tried to send and got permission denied :frowning: Could have told me at the start.

674

I got that slipperywhippit! Why Is this?

675

@SeaBlue: my backtest for ATR was over the past two months and then one month two years ago on the 4 charts I trade, I tested ATR (40), (31), (30), (24), (6), and (14)

It took FOREVER D:!!

The things we needed the setting to have were: a long enough period so one large candle won’t cause huge stops and take profits for the next periods; a small enough period so that it doesnt lag; settings that can be good derivatives for both stops and take profits

I found (14) to be the best although originally I was rooting for (40)

And ah!! Great spot! See even I seem to fail at life sometimes, I didn’t see that trade at the time, clearly I didn’t use the checklist…

Aha I’m not a normal person I don’t think, the only sport I have EVER played or watched was football, like once… But I am a kukkiwon certified master in Tae-Kwon-Do, aha not much of a ball sport person, what country do you live in?

@juicypips: too many pairs will reduce the quality of your trading, spread your margin too thin, and can offer to high of a potential drawdown even if you only have 1 loss per chart, 4 is the right number for me :slight_smile: but I would definitely suggest using 2 charts, GBP/JPY, and AUD/USD, these are my absolute favorite pairs both for their lower spreads and high volatility, plus I’ve traded them long enough to have an exceptional feel for the way money is moved in them, it’s like a traders intuition almost, patterns repeat themselves, price moved in predictable waves, after a whole of studying the same charts you do master them :slight_smile:

So yeah I would start with those two charts with as low risk as you can until you are consistently applying the rules correctly, 1-2% would be good, and if you are lucky enough to be able to legally spread bet DO IT!!! It is literally the exact same thing as retail forex trading, except for taxes you get to write all your wins and losses off as gambling, meaning if you lose you get a tax shelter and if you win all of your winnings up to your jobs yearly income are Tax free and everything after that is lower tax then regular income, so USE THE SPREAD BETTER, the word better is even in the name!

@jonkie76: Reading is good for you :stuck_out_tongue_winking_eye:

676

@juicypips: can you use mt4 with your broker? :open_mouth:

677

@everyone: I don’t normally do things like this, but i am EXTREMELY excited for monday :D!! I would suggest everyone start cracking down on their understanding of the system, because next week can and will be your week!! excitement :slight_smile:

678

Many Thanks SithJawa! I need to download forex.com mt4 to be sure Im on the same page with you. Please post your signal on monday if you find one. I cant wait to have my aha moments soon :slight_smile:

679

Hi SithJawa,

I notice on the first post it now mentions taking half profit on all previous open trades if the latest hits but I don’t think I can find any reference to moving TP and SL anymore, has this aspect been dropped?

680

@jawa: so you going to trade mondays or have it off?
if you have it off, what is the first candle you trade, the mon/tue 0:00 candle close?

681

I was reading the checklist, because I’m also so fired up about Monday, also…but I think I found a typo…on the part about morning star, towards the end, it says the opposite of what direction to trade than the first page, which I thinks is right…anyway, it says if close of first candle of star formation is higher than average, and the candle is bullish, buy???..I think it’s supposed to be sell, right?

682

@mario777: I will post my signals as they happen monday :slight_smile:

@slipp3ryWhippit: It turns out i accidentally deleted it :3 i re added it

@smacko: i decided to do my original plan of trading the midnight candle at monday, that is 00:00 monday :slight_smile: so i am only skipping one whole candle

@pipcompounder: you are correct, i fixed the typo

@everyone: wait till you see how jonkie’s indicator has been coming!! like woooow just seeing it on my chart makes me excited to use it!! cant wait for the full version to be done and to start using it!!

683

Has anybody back tested this method using the 1hr chart with 15 min indicator?

684

@traderjosh: I believe systemslave has been trading it that way :slight_smile: I just backtested it over a few weeks on all pairs for you, it works AMAZINGLY WELL, feel free to use it :smiley: and since the ATR settings are dynamic you dont have anything to adjust, just move the timeframe down one :slight_smile: