All my money is in limbo being Withdrawn from forex.com :\ hopefully I’ll have my finfx account up and funded by Monday 
A textbook buy 
I’ll be rolling out my minor changes and answering questions when I have computer access tomorrow
Hats off to you Jonkie, nice one!
Hi Sith,
Just opened up a ECN_EUR demo account on FinFX and I really like the margin + spreads there. Better then FXCM what I was using.
I got some questions about it though. My FinFX charts are big different compared to my FXCM charts. Also my local time of closing and opening of new candles is different.
Here are two pictures of the GBP/JPY H4 chart
FXCM
FinFX
Now I was wondering if you got the same charts and if its also different compared to your Forex.com charts u were using.
Thanks^^
Hello Traders!
An observation on yesterday MORNING STAR on AUDUSD, that worked out very nicelly
comparing the last four candles including the first in the star formation lookin for highest price n lowest price to avearge
, I realise that the highest n lowest price was from the same CANDLE, like i said it worked out well, just wanna know if this was a fluke or it does not really matters if the same candle give the highest n lowest price for averaging?
Having said that, i just wanna plead with all ,that we shud b more patient n look very carefuly into this great system(imo)properlly after Sithjawa has done a great work laying the foundation to see the few FILTER(S) we might need to include, else it is a kool system.
Finally , guys let keep this thread more informative, educative n positivelly active by discussing more on each setup as they occcur based only on SITHJAWA system , so that we all big family can learn more n understand the system more,making it easier to filter out mistakes.
FULL PROFIT TO U, IF U HAVE READ THIS FROM TOP TO END, AND HALF PROFIT FOR THOSE THAT JUST FLIP THRU.lol
Hey SithJawa,
Am I right in my understanding that you base your risk/lot size on what you have at the beginning of the week and then trade that size for the whole week?
Hey kaboemm,
I was looking into FinFx too since I hate the cftc and love anyone who still takes americans without all the nonsense. The reason the charts look so different is that FinFx’s open/close times are GMT +3 (in daylight savings time) which is different than fxcm and forex.com
@ kaboemm,
the first chart(FXCM) look exactly like my own chart from vantagefx uk which is what am using, (GMT+1 ),
the second chart(FINFX) look exactly like that of pepperstone which is GMT+2
I think the GMT+1 gives more SIGNALS(imo).
HAPPY PIPPING!
hmm, isnt’ FINFX having different time zone charts, so your signals will be different than it is for now?
This changes as ATR changes.
My AJ buy hit SL, but AU sell still open, now have another sell on it, inside bar sell stop order sitting on GJ…right now at $20 profit for week, still.
Same trades for me. Sell stop on GJ got hit and rebounded back up a little so far.
Edit: GJ stopped out already, actually.
My GJ got stopped out, too…hope this AU sell goes all the way, other wise I will end the week at slight loss…
Some traders are betting on this election by holding buys over the weekend, so I wonder if that means the AU will stay up?
Normally I would say… each trade you take you take a look at your equity(balance), and calcaculate what 3% is of that. (or whatever risk you wanna take) Then you calculate the number of pips (ATR * 0,75) for your stoploss. That way you know how much $$ is how much pips stoploss. That way you calculate your lotsize… Take a look at babypips of school? maybey there is some more explenation on that matter.
If you think you have enough equity for a whole weak, you could also do what you proposed and calcualte it on sunday evening, and trade it the whole week. However…3% is a bit risky i guess… If you start with 2 bad days, and you balance shrunk 20-30% … well the lotsize you than still take is more as 3%, more likely in the direction of 4 a 5 %.
Ok Sj you have my attention. I am also in the US but I was under the impression that we could not open an account with more than 50:1 leverage. How can this company do this and not be in big trouble?
boo hoo! AU hit SL, too…
on risk for this strategy, it is best to keep same lot size you started with for the week, unless you lose more than just a few trades…here’s why: if you reduce the lots just because of a few losses, your gains for the next wins won’t bring you back to breakeven…if you win a bunch, you keep the lots the same until the end of the week because you might have some losers (like this week!). If you reduce the lot size when you lose a couple of trades, then you better be risking a very small percentage of your account, otherwise, you actually make the hole bigger than you can climb out of because you are trading with smaller lots after the losses…if you keep lot size the same WITH THIS STRATEGY the probability will rescue you and you’ll at least break even, if not actually profit in the end…
I see many traders who traded monday like crazy (hence the amazing profits for this system!) then they all sat on the side lines for the rest of the week, so only dumb money traded with others who have to trade to buy things for their companies from foreign countries and otherwise not just for profit.
for your answer read this thread, at least the first two posts…
Going offshore to escape the CFTC
by clint
EDIT: I did take the buy on the star on GJ, seems to be going toward TP…will close it myself before close, if it doesn’t do so itself.
well, I’m finished for the week. This week has been a bad week, so good I’m still on demo I need to get a feeling first to start live, and that’s good because I’m still looking for a broker with micro accounts and the same 4h bars than forex.com and MT4.
Hope next week, after Greek elections are finished, we have a better signals
My GJ hit 122.40…closed it…BE for the week…I still have great confidence in this system, this week was just junk (kinda like the euro and unpaid mortgages)…unless there is strong indication that traders are still sitting out, I will start 00:00 monday morning.
Just an update guys. After several hours of back testing, and now forward testing i have found what I believe is the optimum way to trade my idea.
Use 1 hr charts
Use the four Candle method like we already do on a pinbar for entry.
The next thing is very powerful. USE A 25 PIP TRAILING STOP or get out and reverse, WHICHEVER COMES FIRST.
You can trade this on any pair but what I found the best way to go is only trade 1 pair (g/j for me) and you can actually use most of the leverage in your account since you are using a trailing stop.
I have almost doubled my account in two days.