The goji system, for lack of a better name

Trading Systems
241

I’m new to trading. Won a couple and lost a couple in the stock market over the past month. last week I clicked a link to forex and luckily found babypips.com right off the bat. I made it through " babypips college" in 2 days and spent 3 days reading all of “swing-trade-stocks.com”

Thanks for posting your system and more importantly your personal inner workings on the FX market.

I read all the posts last night. I’ve also sent a link to my father who is also just getting started in “trading”.

Very awesome setup.

I’ve opened a live account with fxdd and deposited a few hundred bills in it. I will start this system once I figure out how to use the MT4 platform.
No practice account for me as I tried that on up/down dot.com and it would not hold my interest over a day.

Zecco and Sogo hold my interest and really helped me learn alot from a couple bad trades. I read about what I did wrong but did not learn until after I “felt” what happened.

This day-trading is more up my alley as holding stocks overnight can be a hum dinger.

Thanks again for posting your “system”.
Pro

242

hi all, lavaman and pro, also,

thank you for your kind words. it is nice to know that i have helped some one. my system is not perfct, by no means. take today for instance. how much did the e/u run up after i quit? the system has no re-entry rules. here’s where my attitude comes into play. I DO NOT CARE! I DID NOT LOSE MONEY TODAY. EVERYDAY, AS I START, THAT IS MY GOAL. I DO NOT ALWAYS STICK TOTALLY TO THIS SYSTEM. today was another example with my 9:45 trade. i took a BE. normally, i would do this at +4 , or better, but i was already negative for the day. I DID NOT WANT A MINOR PROFIT TURN INTO ANOTHER NEGATIVE. SO I BAILED EARLY. this is where you must have some rules and basically stick to them, however, doing so will also give you a sense of rhythm to the market and your trading. this only comes with experience and there is no real right way to address that in a rule. this is why i could never sell a system like this. it is also why i take the time to tell you exactly what i do. it may not help you on this trade but it may help your trading in the long run. you must be yourself and you must do what feels comfortable for you. OK, i am finished preaching, sorry!

later,

goji, bernie

243

hi all,

well, here is another day that this system identifies its glaring weakness. the e/u moved several hundred points and we did not participate. no system is perfect, there is no “holy grail.” all that said, i was not a loser today. i placed only one trade and hit a TP. THAT IS A WIN!

8:10 entered order long, 1.4065
8:15 long, 1.4065
8:16 exit, 1.40775, hit TP, +12.5

i will be back at 3:00 pm.

goji, bernie

244

hi all,

this was one of those days that could test a system’s and trader’s mettle. it is hard to imagine that it came the day after my late night sermon. i exited my first trade at 8:16 am. it was a TP trade. then i watched the e/u go up several points. next came 11:00 am, my self appointed quitting time. well, after watching for over 2 1/2 hours, i actually gave up at 10:55. guess what happened at 11:00 am, while i was typing? if you answered a perfect TP trade, you would be right. i hope some of you were able to get in. i did not! i came back to work at 2:55 pm. that was just enough time to set up a long trade, enter and then get stopped out. oh, and after that the e/u went up about 70 points. now, i could pull my hair out of my head. i could kick my desk, say a few curse words, take it out on my wife or cats, but WHAT GOOD WOULD IT DO? this is what trading is all about. you will have days like this where just about everything seems to go against you, thus wrong. BUT YOU KNOW WHAT, AFTER ALL OF THIS, I WON TODAY! I AM NOT FINISHING A LOSER. TOMORROW IS ANOTHER DAY, THERE WILL BE MORE TRADES TOMORROW AND THE NEXT DAY ETC. TODAY, I WON!

3:01 long 1.4350
3:02 exit 1.4340, -10, +2.5

here is what also helps to make a day like today acceptable. the december total is +219. as long as i show a positive for a day, or even a BE, that total does not diminish. THIS IS WHY I DO NOT WANT TO LOSE AND WHY I WORK VERY HARD NOT TO. think about it, 2.5 taken on 22 trading days in a month is 55 pips. 55 pips could be $55.00, $550.00, or even $5,500 etc. depending on the size of your bankroll.

i have taken the time to write this today because i hope it will help some of you. if you think about it, this approach goes very far to eliminate one of the negative aspects that traders face, which is GREED. i am satisfied with my 2.5 pips today.

see you all later,

goji, bernie

245

Bernie, having plugged in your EUR/USD trade results from this entire thread into my spreadsheet out of curiosity, and seen the staggering success ratio / percentage gain, if I were you I would keep doing whatever I was doing and not change a thing or worry about a single missed pip! :slight_smile:

246

dear goji, i am finally starting to get the hang of your system! i am +21 pips for today alone and it is beginning to be pretty consistent. thanks again, and happy trading

247

hi all,

i had a very unusual thing happen with oanda or my lap top today. i will explain later. i did move to my desk top exactly when the e/u was taking its 100 point, five minute, plunge. dblyson, nice to see you are profitable and getting the hang of the system. today’s trades:

8:00 entered order short, 1.4640
8:01 short, 1.4640
8:01 exit, 1.46275, +12.5

this trade is a great example of why you want your TP and S/L set at entry. there is no way i could have entered them after entry, thus missed the profitable trade, perhaps!

8:40 entered order long, 1.4655
8:40 long, 1.4655
8:41 exit, 1.4645, -10, +2.5

this one i would not have minded missing!

8:50 entered order short, 1.4615
8:50 short, 1.4615
8:52 exit, 1.46025, +12.5, +15

right after entry my oanda screen started acting very odd. my bid/ask lines immediately dropped 10+ points, below the body of the candle. at this point they were jumping all around and took me out at the TP. during this time i had two candles, present and last jumping together as if both were still open. i moved to my desk top and did not have the problem. it would be interesting to hear from some of you, if you had a similar experience. orpips, i know you are on oanda. i found this all quite strange.

10:20 entered order long, 1.4465
10:24 long, 1.4465
10:24 exit, 1.4462 -3, +12 for the morning session

this last trade went quickly up to 1.4469-7, and i was not quick enough moving the S/L line to BE. i got taken out at the 1.4462.

december total, thus far today, +231

i will be back at 3:00 pm est.

later,

goji, bernie

248

Hi Bernie. I didn’t have that issue with Oanda (browser).

Today did, though, confirm what I’ve suspected for over a month now; namely, that I am completely unable to have anything approaching your results with this system. I don’t know if you have a sixth sense or just fantastic luck, but your results are much better than those gotten by a strict following of the system.

As an example:

Two days ago, I was stopped out at -10 on a trade; price had never gotten to +4 pips, so my SL was never moved to BE. On the same trade, you opted to move to BE when price reached +3.2, because the previous trade was a loss and you didn’t want two in a row. So not only did you have a BE while I had a -10, but the quick exit allowed you to jump on the next signal for a +12.5 TP, while I was just getting stopped out at that point and entering the next trade then would have been “chasing”. So in this instance, sticking to the rules resulted in -10 for me versus +12.5 for you, or a 22.5 pip difference.

Today, there was a similar situation. Second trade of the day was a -10. On the next trade, based on the actual low of the price, it went to +4, so I moved SL to BE, not wanting two full losses in a row, even though the profit(PIPS) never showed +4 – just like the other day. This time, though, you chose to stick with the rules and ended up with a TP. In this instance, sticking to the rules resulted in +12.5 for you vs BE for me. I also took a full BE on the 10:25 trade, because the 10:20 candle didn’t really cross the EMA so I entered based on the next one. So whichever you choose to do, stick to rules or break them, always seems to result in more profit, while whichever I choose seems to result in fewer.

You have over 200 pips for December; if I subtract my errors and keep only my “correct” results, I would have about 10 pips.

Anyway, sorry for the whining, just felt like venting my frustration :slight_smile:

Thanks for the thread and good luck in your future trading; I think I’m bowing out at this point.

249

hi all,

one trade this afternoon. the trade actually went down to almost my TP but it did not hit, so i wound up taking a +5.

3:10 short, 1.4295
3:10 exit, 1.4290, had been to 1.4283-5, +5

december total, +236

later,

goji, bernie

250

Wow,
My first experience trading was interesting!!!

I’ve been studying heavily for about a week and got my live account setup. No I haven’t done any demo trades. Yesterday was helping my 6yo do some homework while watching a eur/usd chart and kinda playing with mt4 to figure out the settings. I decided to see how much a pip was worth by selecting .1 from the drop down menu and doing a buy and sell. I bought and it went up 4 pips so I placed a “new” order to sell. Oops. What a fiasco. Well, now I had two orders open. I was watching one go up and one go down and thinking what’s up? How do I sell these things. I tried looking in the help menu but that was taking to long. I started clicking everywhere, click, click, and finally saw a trade link in a popup menu from the order line below. One of them said “close” so I clicked it and sure enough I saw the close box in another pop-up. CLICK. Then I did the same with the other. CLICK. WHEW…Ok, so pips are worth $1 on this mini account when you buy what I’m assuming is .1 of a lot?? I had deposited $200 and FXDD put another $100 in there plus a 3% present. By balance went from $306 to $298usd. About an hr later my dad came over and I showed him how easy it was to buy and sell. I saw a BIG green candle and clicked to buy. It Immediately dropped to -$7 but then started to creep back up. As I was telling about my frantic happenings earlier it went to a +4 and I clicked close. My Account now shows $300. I’ve got a lot to learn but I think it’s much more fun learning live. I then took my daughter to cheer leading practice and was back in about 40min. Looking at the chart it had went up another 31 pips while I was gone. If I would have set a trailing stop, which I don’t know how to do yet, I would have made MO MONEY. LOL

I put the 10ma on the chart and sometimes it looks like it reacts a lilttle slowly. I can tell there is much more to this system than just following the rules you’ve laid down. Being able to read price action and candle patterns to determine if it’s really a time to ENTER will be key. There seems to be a lot of fake outs with the 10ma.

Anyway,
Lets have some fun.
I’ll be back at 3pm E. It’ll be 2pm my time in Texas.
later
Pro

251

hi all,

pro, i hope your 10 ma is akin to my 10 ema. the one absolute to this system is the entry. moving the stop loss is arbitrary. i offer my first trade today as an example. it was a short trade. it had been to almost +10, but i settled for a +5. moving the S/L line can be the tricky part because price is not static when you are attempting to move the S/L line. one must always remember that my first priority is not to lose, therefore, i move the S/L. BE’s, break evens are not losses. as in football, it is OK to punt sometimes! the trades:

8:05 short, 1.3965
8:06 exit, 13960, had been to 1.3955-5

8:45 entered order long, 1.3955
8:48 long, 1.3955
8:50 exit, 1.39675 +12.5 +17.5

9:00 entered order short, 1.3940
9:02 short, 1.3940
9:03 exit, 1.39275 +12.5, +30

december total, 266

as is usual, it is friday, i have had a very nice day, and i am finished for the day and week. HAVE A GREAT WEEKEND EVERYONE.

goji, bernie

252

Pro, 10 MA is not the same as 10 EMA. The EMA is the exponential moving average and is calculated differently, weighting the more recent bars more heavily.

253

prochargedmopar-
Be cautious this afternoon, Friday afternoons are a horrible time to trade. You might want to come back Monday morning, or even the week after Christmas as I’m sure Christmas week will be sloooooow. It’s a fun and challenging road, best to you!

254

eur/usd
Took trade at 22:40 on chart when the wick crossed over the line.
I sat watching a 5-8 pip loss for about 6 min
Jumped to a +5 and I closed at 22:52.

I am not using any stops or TP’s as I’m not sure how to set them up. I just sit there with my finger on the close button. I could have gotten 25ish more if I would have let it ride but I’m not trying to make big pips now I’m just trying to close with a +1 or BE on each trade. Trying to see how this makes me feel.

I depostited 350 more and fxdd put in a 10.50 holiday bonus bringing my total to 667.50.

What is the best place to go to read about and understand the MT4 platform and how the money thing works. How do I change the 10ma to a 10ema? Is it correct with a mini account and a .1 I’m buying $10,000 worth of money which is what is giving me $1 per pip? 10,000x.0001

So far my trades have been.
-1
-7
+2
+2
+5
Total pips +1

Thanks
Pro

255

Hey prochargedmopar-

I use the Oanda platform to trade because I like their spreads but I also use a demo version of MT4 just for the charts sometimes. I never found a tutorial or anything for it, just experimented long enough with it to get a good feel for it. That’s wild you’re trading at a dollar per pip right off the bat! I’m a few months into this thing and I’m only at $.30 a pip, but will be increasing as my trading plan continues to prove itself. Have you tried using a demo account? It helped me personally to watch myself lose buckets of fake money before I became consistent enough to be comfortable trading real money. Even when I went live with my own money I watched as I lost a hundred dollars before realizing that my emotions were ruling my trading. Now I’m back in profit and following a clearly defined strategy. Did I mention following a strategy is key? Follow it follow it follow it. Bernie told me that, it’s why I still hang out in his thread even though I don’t trade his strategy (hope it’s cool B!).

256

MT4 – under indicators, pick Moving Average, under the properties for it change it to exponential, period 10.

When you place an order in MT you set your TP and SL at the same time in the order window.

Yes, .1 lots is 10,000 position size which is $1/pip.

257

hi all,

thank you to those of you who are attempting to help others by answering questions. it is all about helping others and “tis the season.” lavaman, your input is always welcome, as is anybody elses.

we have had an awful lot of volatility recently. where the average daily range for the e/u is around 127, i think we are now getting 300+. i do not think the volatility will dry up through the end of the year. however, this is just a thought and not based on facts.

anyway, i am going to raise our TP limit to 25, and our S/L to 12.5. this gives us a 2:1 ratio. i will try to give some guidance to S/Ls, but remember, here, you may do your own thing. anyway, at +4, i will move to -4, and then at +6 i will move to BE. we will initially try this on monday, if successful, we will continue. if not, we will return to our normal limits. see you all on monday.

until then,

goji, bernie

258

hi all,

i just wrote up a lengthy report. in mid stream i received a phone call. after the call i continued the report. now, when i went to submit it, it didn’t take. i am not going to re-type it. there were two high lights. we generated +10 pips of profit and worked very hard to get them. we also should have learned to follow the rules. between 9:15 am and 10:00, had you entered on cross and/or close, you would have been totally whipsawed. except for one five minute candle, every trade would have produced a loser. by following the rules and waiting for the xxxx5, or xxxx0, you would not have gotten into any of the trades. on the completed trades, we received the following results; +2, +2, +5, +3, -4, +2, for a total of +10. on the last two trades i pulled the S/L line up tight because i did not want to give anything back. see you all at 3:00 pm.

goji, bernie

259

hi all,

after this morning, i determined that christmas week was not going to be as volatile as i originally thought. upon getting ready for the 3:00 session i first examined what the market had been doing since 11:00 am on a 15 minute chart. during that time volatility had certainly shrunk. at this point i was faced with a dilemma. do i trade? i indicated that i was going to. do i trade in the method by which i had indicated i would? in other words, am i trading for those of you who may be learning from this information or am i trading for my self? well, the answer to that is very obvious. i do not profit from writing this. thus, even though i did not identify what i was going to do ahead of time and you may not benefit from today’s activity. you may still learn something if i simply do what i feel i should. therefore, i restored my previous TP and S/L. more importantly, i moved to a one minute chart because of the way the e/u had been moving after 11:00, but more importantly, after 2:00 pm. as you will see, the result worked out fairly well. to conclude, i do not know how the professionals handle these situations, but i do have an idea of what works for me. finally, going into the 3:00 pm session i was +10. those of you who have spent the time reading my ramblings should know why i went back to my previously used S/L. for those of you that haven’t read everything, as yet, using the 10 S/L at 3:00 would have produced a BE for the day if price had moved against me. it did not! the trade:

3:04 short, 1.3955
3:05 exit, 1.3950, i closed at the end of the 3:05 candle, which was positive. +5, +15

december total, +281

later,

goji, bernie

260

Oops,
Broke a few rules this morning and paid for it.
I went against the 5,15,and 1hr candles. All I would have done is zoom out and I could have seen it was time to go short as it is still racking up the pips in the other direction. lol

-20 ($20)

total career -19

These lessons will stick as it’s for real.
Have fun
Pro