Somewhat Perfect

Trading Systems Free Forex Trading Systems
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Candlestick Chart Picture A

A
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Candlestick Chart Picture A above is somewhat self explanatory.

It clearly shows examples of Somewhat Perfect trade entry to trade exit opportunities, which occur at candlestick Low and High prices, in terms of gaining access to the profit enabling up or down pips of price movement that followed.

Could have, should have, would have.

A pips profits opportunity commences on most candlesticks.

Closely tracking price movement. For many or at least enough pips profit.

No indicators, drawn lines, or multiple time intervals of charts are, or have proven to be necessary.

The most preferable place on a candlestick to enter long will always occur at its Low price, which may or not be its final Low price upon candlestick close.

The most preferable place on a candlestick to enter short will always occur at its High price, which may or not be its final High price upon candlestick close.

These same principles apply on any candlestick chart of any time interval for any financial instrument.

As long as one can consistently overall gain enough pips profit, from all the pips of price movement that became available as profit, one can be a profitable enough live chart price based trader.

In order to be a profitable enough live chart price based trader, one has to guess - accurately enough, often enough, where the live chart price will soon move to and when, which is not known in advance.

A logical, simple and consistently profitable enough trading method is possible to make from the principles of Candlestick Chart Picture A.

One may be best off –
Trading a pair with the narrowest spreads like AUDUSD EURUSD USDJPY.
Using a broker who offers negative balance protection.

One needs to choose –
A financial instrument to trade. Eg. AUDUSD
A time interval of candlestick chart to use. M1 or M5 or M15 or M30 or H1 etc.
Basic simple trade entry and trade exit parameters / rules, such as including - maximum pips stop loss, entries per candlestick.

All constructive input welcome.
However the thread evolves.
Perhaps into something completely different.
Logical and simple a bonus.
Somewhat Perfect the focus.

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This is all pure theory.

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The factual truthful price based info in candlestick chart picture A speaks for itself.
Who would not have wanted to enter and hold for maximum pips profit from on any candlestick.
This is possible to do, if one can guess / predict imminent price movement well enough, and enter and exit accordingly, which is what a successful trader tries to do.

Although gaining maximum pips profit available would be nice, I am happy to settle for enough pips profit.

Maybe you’re right, I respect your opinion and your right to have it.
But can you spot at least one useful lesson in candlestick chart picture A that can make you a better trader? (even if a candlestick chart is covered in indicators?)
Please try to find one and share it with us. We may progress from there.

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You started the thread in order to impart your knowledge. I say you haven’t yet shown any practical knowledge of trading. If you have any, go ahead and post it.

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Candlestick Chart Picture B

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Candlestick Chart Picture B shows the major up and down twists and turns which one would want to be on the correct side of, in a clear up and down head and shoulders reversal pattern.
One could have extracted plenty of pips profit from significant sections of these candlesticks through accurate enough predictions.
Going long from or after a blue square up until the next red square.
Going short from or after a red square down until the next blue square.

Surely this blue square to red square insight alone is in some way helpful?

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I dont think you’re quite getting it yet. Maybe you will have an aha moment.

For one thing I am showing what was possible.

Those lessons can be applied to future price movement.

Do you know where price will move to in advance?
If yes, great please share your crystal ball method.
Or are you predicting / guessing where price may soon move to like me hoping that your guesses are accurate enough often enough to enable enough pips profit overall consistently?

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I can’t predict anything. Anyway, I only trade off what I know rather than what I might or might not be able to predict.

All I only know is where price has been. I only know a price has made a daily low at the end of the day. I only know the daily high at the end of the day.

So what’s your point in all this?

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Any chart can only tell one what has happened. Even candlesticks are an indicator in themselves, showing past price movement.

If one doesn’t know where price will soon move to and when, through some type of crystal ball method one can only guess.
If one wants to trade and can only guess and not know where price will soon move to and when, one wants those guesses to be as accurate as possible.
A good place to start is examining the past as in candlestick chart pictures A and B as examples, recognising what in a Somewhat Perfect way one would have wished to do, and reverse engineering a method that will allow one to do this accurately enough often enough with future price movement when it arrives.

All chart based trading is guessing.

Keeping it simple in terms of entry and exit parameters on a per candlestick basis for the chosen financial instrument to be traded and time interval of chart to be traded off, and one may have a good enough method very quickly.
I cant tell you how big your stop loss should be as i dont know what time interval you want to use. M5 and M30 may make a difference.

I have shared an obvious method waiting for the user to fine tune to their needs and make it their own.

It is possible to have made many pips profit from the candlestick chart pictures A and also B. Or another candlestick chart using the same principles. But that doesnt mean a certain person will be able to. Afterall, anyone can be given a snooker cue and table, but not all can make a century break.

Just like many methods shared on a trading forum with a screenshot example, I am not claiming to have actually made those trades.
But at least an opportunity to profit commences on almost all candlesticks here.
Not like most other threads that show a handful of opportunities that existed in maybe 200 candlesticks, and we are supposed to believe the user picked the correct 5 entries without their stop loss being hit.

This is how I try to profit with a blank candlestick chart and make enough pips profit overall, by guessing accurately enough often enough where the chart price will soon move to and when.
I do not use indicators, multiple timeframes or draw lines.
I could imagine where lines could be drawn but don’t really bother.
S/R may be reached or past,
I dont know in advance where price will go, i can only guess, sometimes I am wrong.

It is not easy, and how could trading ever be easy, its fiddly and fast and needs a lot of concentrated attention, clicking and pressing buttons, and the situation on the screen/s is always changing.
I hope to improve further.
I am open to ideas.

Not knowing where price will move to in advance, and so needing to limit risk with a stop loss to avoid a margin call or worse, plus the spread, are the obstacles to making a profit on a trade.

A somewhat perfect method is the focus.
However this thread evolves.

Put simply, I have shown a clear example of what to me a Somewhat Perfect method is like on the candlestick chart.
The framework is there.
Broker used, financial instrument traded, time interval of candlestick chart used, entry and exit frequency and policy including stop loss size are self definable parameters based on self preference.

Someone may find some of this info useful.
Possibly taking it to a next step in terms of defined parameters.
Through sharing others may also benefit.
The used parameter details of a system can be defined easily.

Buy Low.
Sell High.
Keep losses small.

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Well said @tommor :+1:

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Thats 100% false.

There is a diffrence between “guessing” and taking a calculated risk.

For example, when I look at a chart, I dont enter into a position because I “think” price is going up or going down. As a matter of fact, im fully aware that I have absolutely no idea which way price is going.

I think the better approach is to use TA to identify potential low risk setups that will allow you to profit in the event that price moves a certain direction.

To me, there is a huge difference between the two point of views.

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one can dress it up how one wants to - educated guess, educated prediction, highly probability entry, weight of evidence, back testing results.
If one does not know for sure where the chart price will soon move to and when, one can only guess. An inconvenient truth.
If not all of ones trades makes a profit, one clearly does not know where the chart price price will soon move to and when.
Accepting this is beneficial to progress with chart based trading.

Also, maybe it is impossible to know from the chart itself where the chart price will soon move to and when, as -

  1. Future price movement is yet to occur.
  2. Any trading chart can only show what has already happened in the past.
    Even the current / latest price plotted on a real-time / live chart actually occurred in the past by the time it is on the chart and is recognised by the brain.
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If one knew where price will move to and when, a Somewhat Perfect Trading System would be easy to define and use, perhaps with a stop loss being less necessary.

But if one doesn’t know where price will move to and when, and one is only guessing where price will move to and when, this makes a Somewhat Perfect Trading System less easy to define and use, and a stop loss becomes necessary.
One may be able to very accurately guess where price will move to and when, but one may settle for being able to guess accurately enough often enough where price will move to and when in order to make enough pips profit consistently overall.

For me a Somewhat Perfect Trading System must –
Provide frequent and clear access to profit enabling future price movement.
Provide the opportunity to gain up to maximum pips of available profit from profit enabling future price movement, if one can guess accurately enough where price will move to and when.
Be Buy Low and Sell High compliant from the point of entry.
Keep losses small.
Minimise losing trades. This is difficult without knowing where price will move to and when.
Be logical and simple to use.
Enable making enough pips profit overall consistently quite easily.

This thread could evolve, grow, refine and improve in infinite directions. Perhaps going beyond “Somewhat Perfect” to “Perfect”. Very exciting. All constructive input welcome. I just started the conversation.

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Nothing is perfect in Forex

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I will watch with interest though.

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How are you proposing to get on the correct side? It is a “factual” statement that every single trader - every single one - wants to buy low and sell high and sell high and buy low. How are you proposing they do that?

What is your trigger that get’s you into a trade, out of a trade and on what time frame?

tx for imparting,

KC

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I assume its combination of candlesticks, i.e. mix of bullish and bearish candlesticks. I would test on history before being so confident about potential market edge it offers, because IMO it looks to simple
Cheers.

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As I’ve already explained on this thread -

Currently I use - no indicators, no lines, no multiple charts. Just one blank candlestick chart.

Currently I have to guess where price will soon move to and when.
No chart price movement crystal ball yet unfortunately.

All chart based traders guess, when they trade.
No matter how many indicators, charts and lines they use.
One cannot know from a chart where the chart price will soon move to and when.
A real-time chart only shows what has already happened by the time it reaches the brain.

Currently the challenge is to guess accurately enough often enough where the chart price will soon move to and when to make enough pips profit.
As many pips profit as possible would be nicer than enough pips profit consistently - overall.

Suggestions towards the objective of a Somewhat Perfect or Perfect system are welcome.

The stated objectives are clear and self explanatory.

I think I’ve already said and repeated at least once all I can right now.

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Roger. What do the non-chart based traders know so they don’t guess?

Tx for clarifying,

KC

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What do the non-chart based traders know so they don’t guess?

I don’t know.
Please tell me.
Maybe charts are not useful enough and one should switch to using some other more useful tool / medium, with crystal ball like qualities.

Or maybe one day someone will find that magic combination of indicators, parameters lines and time interval of chart/s, and present a superior system that is so reliable.
I dont think its happened yet, or I wouldnt be typing this.

I am open to all possibility.

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This isn’t a method its an aspiration.

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