The goji system, for lack of a better name

Trading Systems
481

Hello Genghis-K,

Bernie will of course offer his advise and comments but I think your modification to the “goji” trade setup is in fact a completely different setup.

As I see it, the goji setup is simple and proven. One currency pair (EURUSD), one chart (5 min), one indicator (10 ema). Wait for the cross and close above or below 10 ema, place a limit order using the 5 or 0 “pip buffer” off of the high/low of that bar. Set a tp of 12.5 and a sl of 10. There is user discretion regarding the moving of the sl once trade is in profit. That is it! A simple momentum trade that anyone can do with a micro, mini, or regular account. IMHO, time of day is a very important factor for this setup as you are trading off the US opening volume and volatility. The goal of taking 25 pips out of the market in an hour or so will not necessarily meet every trader�s objective. In my case, I find it very rewarding to first and foremost be a winner, second supplement my monthly income, and finally have a balance in my life that doesn’t center on sitting in front of computer all day consumed with trading.

Of course this is just one man’s opinion.

482

It’s 3:30 and I’m done for the day. My first full day of trading my slightly adapted goji system, and it was quite pleasant. Following my 28 pips this morning (got another +4 just after posting), I got back on the computer around 1:45. I placed two trades that ended in -5 pips as the candles were kind of hugging the EMA and faking me out. Then, at 2:10 I entered a trade that hit my TP of +15 at 2:12. I took a break and then came back at 3:00. Here, I tried my new implementation to the system where I entered long after a short (opposite colored) candle appeared in an uptrend (since it wasn’t looking like any candles wanted to violate the EMA anytime soon). I put up my buy order above the wick of the red candle at 1.3030 and got filled at 3:23. I hit TP of +15 at 3:25. It’s funny cause if that candle had closed just a few seconds earlier, it would have fit into the “goji inside bars” criteria.

Oh Bernie, about the inside bars move, do you need at least two candles to open and close inside the previous candle for it to fit your requirements for entry?

Right on.

Today’s pips: +48
February total: +54

483

ezinvestor - you are right as to my changes to G’s system and thanks for the clarity - the penny has dropped and I understand now. thanks and best regards. ( off to calibrate the new set up )

484

hi all,

first things first. some of you have been mentioning computer problems lately and i have not had similar problems. however, the last two days i have had problems getting on baby pips and navigating to my posts. my wife just called for dinner. i will be back later.

bernie

485

Your wife makes you dinner? That’s awesome! I have to handle all the cooking in my house. And the cleaning, walking the dogs, etc. I love it though. My girlfriend is a teacher which is pretty demanding and I get to work from home which makes this whole forex adventure possible.

I too have not had computer problems. Actually, a month or two ago Oanda was acting up for me but this past month it’s been fairly smooth sailing. This may be due in part that I reinstalled windows and cleaned up my computer in a lot of different ways. I always keep my cookies and temporary internet files folders empty so nothing creepy gets in there and starts slowing me down.

486

Those who are having computer issues with Oanda and are on demo accounts the problem is with the demo server. It was down for maintenance over the weekend. It appears that they are still working on some issues. :frowning:

I have not had any problems at all on my live account. All features working smoothly. In fact, I have to say that I am very satisfied with Oanda and would recommend them without reservation.

487

hi all,

i am back. lavaman, my wife is a retired teacher as am i, so i know the circumstances.

i have several comments and i think this afternoon’s trade will also offer some explanation. ez, i thought your answer to genghis was great. i can not improve on it. i know that there are numerous other strategies out there and i am sure many of them are very good. also, if one of you would come up with something that would improve this system, i would be foolish not to embrace it. however, i really like what i am doing right now. i have no anxiety when i place a trade. i pretty much know that when i close that trade, i will be anywhere from -10 to +12.9. i also know that the majority of the time the trade will be a positive trade. my bank roll is such that i could withstand a number of -10 trades. i think back to the beginning of january, this year. for me, i had several negative days, but i felt that eventually things would work out and i would become profitable. well, i finished the month, slightly, over 300 pips. when i consider that i am not a professional trader and i am up against some of the most savy traders in the world, i would take 300 pips every single month of the year. with that record each month, i would truly become wealthy beyond my wildest expectations. also, each of you can modify any portion of this system or use any other system. as i have said, i am doing what i am doing and trying to report that to you to help you out. i believe there are those of you that are truly benefitting and that pleases me. on to this afternoon’s very long trade. i am going to write most of it out so that you can get a better handle on the goji candle.

3:30 is shaping up as a possible goji candle
3:35 this candle is an IB, inside bar candle, you need one more IB
3:40 this is also an IB, thus completing the goji candle
3:45 eol, 1.3060
eos, 1.3030, what we are playing here is the momentum of a BO
3:50 modified long to 1.3050, the 3:35 candle became a goji candle, as both the 3:40 & 3:45 candles became IBs
3:55 modified long to 1.3045, as the 3:40 and 3:45 became IBs of the 3:40 candle. what is happening is that we are pinching our order in lieu of a BO

I WILL WORK OVER TIME THIS AFTERNOON TO CAPTURE THIS BREAKOUT.

4:18 long, 1.3045, cancel the 1.3030 short immediately
4:19 moved S/L to 1.3037
4:23 moved S/L to 1.3047, had been over 1.3051
4:23 exit, 1.3047, +2

ok, was this worth the wait? you have to answer this for your self. there is no right answer, except what is right for you. yes, i worked a little longer, but i profitted +2. for me, that is worth it. i firmly believe those +2s add up, OVER THE COURSE OF THE MONTH!

anyway, this should give you a pretty good understanding of what i am doing with the goji canlde. this morning, it provided a trade,TP i might add, while waiting for my next 10 ema trade. i believe right now, though i haven’t done many goji trades, they have all been profitable for me.

well, even my wife is used to my 3-4:00 pm schedule, and today she did not realize i worked overtime. thus, the earlier interruption. i think i have covered all i wanted to say. i will be back at 7:00 pm.

goji, bernie

488

hi all,

this evenings trades:

7:05 goji candle
7:20 eol, 1.3010
eos, 1.2985
7:38 long, 1.3010, CANCELED SHORT
7:40 moved S/L to BE
7:41 exit, 1.3010, +0

7:50 eos, 1.2990
7:51 short, 1.2990
7:53 exit, 1.2977-2 +12.9

february total, +67.8

see you in the morning,

goji, bernie

489

hi all,

i quit early this morning. i got up a little earlier, as it stands i wish i hadn’t, and i am feeling a little tired. thus, here are the trades:

7:55 eos, 1.2830
7:55 short, 1.2830
8:01 exit, 1.2840 -10

8:15 adp, news

8:25 eol, 1.2865
8:29 long, 1.2865
8:32 moved S/L 1.2859
8:34 moved S/L to BE
8:35 moved S/L to 1.2871
8:36 exit, 1.2871 +6 -4

8:55 GOJI CANDLE
9:10 eol, 1.2885
eos, 1.2860
9:13 long, 1.2885, CANCEL SHORT
9:14 moved S/L 1.2888
9:14 exit, 1.2888, +3, -1

9:20 eos, 1.2860
9:25 cancel short
9:25 eol, 1.2880
9:30 long, 1.2880
9:31 exit, 1.2884, had been to 1.2889, +4, +3

9:35 eos, 1.2860
9:35 short, 1.2860
9:36 moved S/L to 1.2858
9:38 exit, 1.2847-1, TP, +12.9 +15.9

february total, 83.7

back at 3:00 pm,

goji, bernie

490

Here are my trades for the morning. I started out a bit sloppy. This is my second full day with a slightly adapted goji system, and I think I need to do some kind of focusing exercise before I start. Some of my losses came from loose interpretation of what an EMA cross was, and another came when I switched pairs after getting impatient. Still, I’m happy that I didn’t “revenge trade” as I’m accustomed to. I know it will take time to grow the patience and trust in this system that Bernie has, but I’m confident and feel good about the results thus far. As I post my trades, I’ll just be posting the notes I write while I’m trading. They aren’t as formalized as others’ results, but they should do.

Entered 1.2865 at 8:29. Stopped out at 1.2869 at 8:34 for +4 pips.

Another +4 pips in a move that was a little loose in the interpretation of my addition to the system.

Entered 1.2880 at 8:56 because the EMA bent upwards to tap the body of the 8:50 candle. Hit -10 at 8:57. Did anyone else take this trade or was it a stretch to take this one?

Took a USD/JPY trade for -8 pips, stick to one pair dude!

EUR/USD, another loose interpretation and a -5 pips. Stick to the system. It’s okay to lose. Patience. Should have had this at B/E.

9:29 entered long, 9:31 hit B/E. Almost got +5 pips but my S/L move was “rejected” because I guess I wasn’t quick enough.

9:35 entered long at 1.2860. TP of +15 at 9:38 AM. Back where I started! Yay!

9:55 entered long at 1.2880. TP of +4 at 9:56. In profit for the day, woo-hoo!

10:05 entered at 1.2905. B/E at 10:08. This was another where the EMA line came up and tapped the bottom of the previous candle’s body. So, probably not a genuine trade for the system.

11:04 entered at 1.2875. TP of +15 at 11:08.

I love when they cut to the NYSE floor on CNBC after a major news announcement and you hear everyone going crazy. That’s the morning.

Today’s pips: +19
Febraury Total: +73

491

Hi all,

Your wooping me Bernie lol!! but I am still learning :smiley:

7.55 eos 1.2830 SL to 1.2834-4 -5.6 (my first loss since starting to monitor)

9.35 Eos 1.2857-8 becos i nearly missed this trade never had me order ready so clciked the limit buy and had to manual guess where it should of been hence the strange entry point
I ended up with profit of +9.7

9.55 eol 1.288 was a BE

Waited a little longer and got an easy TP

11.05 eos 1.2875 +13.0 never even watched it as the wife wanted to know how to start the spin dryer, perhaps thats the secret leav them alone…

Total for day = +17.1
Total for Feb = +44.9

I am getting to like this way of trading at this rate I could get close to 300 pips a month!!

492

Bernie, everyone,

This morning trades:

8:25 - long at 1.2865 - exit at +1;

9:35 - the server was TOOOO slow accepting my short order at 1.2860 - by the time it accepted my order, the price had gone lower, I had no choice but to cancel the order;

11:00 - short at 1.2875 - exit at +4.

It makes +5 for the morning and +24 for the month.

Good luck.

493

This afternoon’s trades:

Entered long at 1.2860 at 1:27, took +5 pips at 1:31.

Entered short at 1.2855 at 1:40, B/E at 1:42.

Entered short at 1.2845 at 1.55, B/E at 1.58. This last trade was part of my goji additions where I enter with the trend after an opposite colored candle. Obviously didn’t happen for me this time. But I’m starting to be happy with break evens. It’s like free practice! There’s some serious support around the 1.2840 level, at least since this morning.

Entered short at 1.2835 at 2:07, took +2 pips at 2:11. I didn’t have a great reason for entering this trade, I had just been watching that support level for a while and felt like I was so close to getting an inside bar, that I’d go for it. I thought if it blew past 1.2835, there was a good chance of a TP. Well, I still feel okay about this trade because it was well thought out, but I need to be EXTREMELY CAREFUL about messing with this system. Give me an inch, and I’ll often take a mile.

Entered short at 1.2825 at 2:23, B/E at 2.:24. This trade was entered because I got an opposite colored candle in the downtrend. However, I have to decide if the very next candle has to trigger the trade, or if I can go in during the second candle after the opposite. I may ditch this addition to the system, I’ve made a few extra pips from it but a whole lot of B/E’s!

Entered short at 1.2850 at 2:39, B/E at 2:52. This one really tried my patience. 13 minutes! It went against me almost to -10 stop loss at first. To add to it, I placed my buy order just before the close of the M5 candle, so I shouldn’t have even been in this trade at this level. However, if I had waited I would have been filled at 1.2855 for a sure loss.

Entered long at 1.2860 at 3:05, exited with +5 pips at 3:07. I believe this constituted a goji inside bars trade, as the candle I entered on followed a candle that was within the range of the candle preceding it. I’m curious to see if Bernie took this trade.

That’s plenty for today.

Today’s pips: +31
February Total: +85

494

hi all,

i am still having troubles with baby pips. it is taking me forever to get on and/or navigate. the really funny thing is that i am having no other problems???

this is important, i am enjoying the fact that some of you are doing really well, right now. teachers always want to see their students do well. if that means that you do better than i, that will never be a problem with me. the bottom line for me has always been and will continue to be, my bottom line. as i have said recently, i am happy with my reults, I HOPE YOU ALL DO EQUAL TO, OR BETTER THAN THAT.

by the way, i had no trades this afternoon and quit around 3:40 pm, i think.

goji, bernie

495

hi all,

well, i took my 2 pips and went home. ok, i was home so i quit.

tonight i focused on the e/u, but after i took my two pips i evaluated the a/u and i think it would have provided about the same. here’s another reason why i am considering the a/u at this juncture. using my typical 80% of bankroll on any one trade, with the a/u, you are able to put more pips into play. the evening’s trade:

7:15 eos, 1.2830, the 7:05 candle just missed closing below the 10 ema
7:18 short, 1.2830
7:20 moved S/L to 1.2828
7:21 exit, 1.2828, had been to 1.2823-3, +2

february’s total, 85.7

in the morn, folks,

goji, bernie

496

Hey Bernie,

I decided to try the E/U during the Aussie/Tokyo open as well. I saw the 6:50 PM candle as a goji candle since the next two candles were inside bars (within it’s range). So, I had a sell order triggered at 1.2845 since that was the first multiple of “5” under the 6:50 goji candle. My order was triggered at 7:10 and I got stopped out at +5 pips at 7:12. This worked for me, so I’m happy, but I’m still trying to figure out if I’m seeing the inside bars trades the way you see them, since you didn’t take that entry but waited for the following candle to close under the EMA.

Okay (a few moments later after some thought), actually I think it just occurred to me. When the 7:05’s candle wick went below the 6:50 goji candle’s range, the “inside bars” trade was violated, then you waited for the next candle to close under the EMA. Is that right?

Don’t bother going back and checking the charts if you don’t feel like it, I’m slowly figuring it out I think. Also Bernie, a sincere thanks for all the time you’ve taken to post all of your trades. If you hadn’t done that, I wouldn’t have found my way back to your thread in a moment of sheer desperation. Right now, this is working for me and I’ve already restored most of the losses I suffered in a horrible bout of revenge trading last Friday (by the end of that day I was trading with 10 pip spreads because I was so out of my mind I just didn’t think I cared anymore). I just hope I can keep myself from sabotaging myself as I have every other time I’ve started to find something that works! However, every time I make huge mistakes like that, the amount I learn is priceless.

Okay, now I’m rambling.

Today’s pips: +36
February Total: +90

497

hi lavaman, et al,

lava, your interpretation of the goji candle is totally accurate. i was late getting on this evening. had i gotten on sooner, i would have attempted to trade it exactly as you did. i think you have this totally figured out. since this is correct, forget your confusion in the later paragraph. just a word to keep you on an even keel. i am trading three sessions right now. if i made 5 pips in each session, that is 15 pips per day, 75 pips per week, 300 pips per month. that gets me back to my comment of yesterday, or the day before. with 300 pips coming in monthly, in several years i will have an extremely generous amount of money made. another way i like to look at this, that 5 pips could be $5, $50, $500, $5000, or even $50,000 depending on the size of your bankroll. one final thought. take the $500, that would equal $1500, per day, $7500, per week, $30,000, per month. JUST FROM 5 PIPS A SESSION!

goji, bernie

498

Believe me, my mind is ALWAYS thinking like that. At the beginning of this, I thought I had to make 50 pips a day to make a decent stake at Forex trading. Now I see things completely differently. Also, whenever you mention getting 2 pips in a session, I always think “Hey, 2 pips is worth 4 dollars with the amount I’m trading. 4 bucks is lunch! I’ll take that any day.”.

Today I’m down a bit and trying VERY hard to keep my emotions in check. Tomorrow’s another day right. Will post trades later.

499

hi lava et al,

another way of looking at those +2 pips. you do not have to make up for them. if down -2 pips, you have to make 2 to get back to even. if the 2 is positive, it adds to your daily, weekly, monthly total. my two non-goji candle trades produced +3 & +2. unimpressive? that +2 & +3 = +5 and that is exactly what i just talked about last night. i could have been happy with those for the morning. i did quit early this morning becasue i did not like the action of the e/u and i had a nice profit thanks to a goji candle trade. here are my trades:

8:00 GOJI CANDLE
8:15 eol, long, 1.2840
eos, short, 1.2810

I AM NOT AWARE OF ANY MAJOR NEWS AT 8:30

8:30 short, 1.2810, CANCEL LONG
8:31 exit, 1.2797-1, TP, +12.9

9:20 eol, 1.2815
9:30 long, 1.2815
9:33 exit, 1.2818, had been to 1.2824-3, +3 +15.9

9:45 eol, 1.2815
9:50 cancel long
9:50 eos, 1.2785
9:51 short, 1.2785
9:56 moved S/L to 1.2783
9:57 exit, 1.2783, had been to 1.2778-5, +2 +17.9

february total, +103.6

back at 3:00

goji, bernie

500

Hi all,
A bad day for me, I never understood that 8.30 candle are we doing something different now it never cross the ema on my screen can someone explain please?

I noticed also for 2 hours if you drew a line along the top bottom of ema it was only 8 pips apart so not much of a trend going in any direction,

9.25 eol cancelled

9.40 eos 1.2790 hit SL -9.0 I think this was a bad entry point probably got bored!

9.45 eol 1.2815 cancelled

9.50 eos 1.2785 hit another SL -9.9

10.20 eol 1.2800 moved to +7.0

Total for day -11.9

total feb = + 33.5

Have a day off tommorrow in this country weekend is fri sat so see what I can do at a different time of day.