Haha, anything to keep me out of pointless trades. I’ll try this out for sure. Is it a USB-input headset I should be looking to get?
Philbot44,
Are you suggesting this would be during NY open hours (7AM EST, -5 GMT)? Just curious cause I don’t trade London open. If it is US trade times then I would be interested.
Yeah, I think I’m going to try to limit myself to Bernie’s trading times. 8-11 AM EST and 3-4 PM EST (but not the Aussie open at 7 PM though as my girlfriend is home from work and it’s too much to juggle). I’ve tried trading the London open on a number of occasions but the lack of sleep messes me up the following day.
Philbot,
Won’t regular speakers and a mic be sufficient? It’s not like I’m too cheap to buy a headset:D, just thinking it might be already set.
Philpot44,
Thanks for your response. I have printed out your 1st and 2nd diagrams a while back and understand the basic goji concept as you have shown. I however still need more practice on the Oanda Demo account to master the technic and discipline to quit while I am ahead and not to be greedy and loss everything and more back. Sound familiar?
Lavaman,
Thanks for your diagrams. I have bookmarked your diagrams and will study them further to understand and master the contents.
tirasong
Hi gojilover,
As a long time and fed up equity trader, I finally spat the dummy and decided it was time to look at forex.
I have been watching this thread with great interest and plan to open an OANDA demo account to trial this and some other ideas I have.
You have described your system very well, however, I seemed to have missed something along the way. What is a goji candle? I have seen mention of this in the postings, but I can’t actually see a definition.
Thanks in advance,
Woofx
hi all,
wow, you guys have been busy! lavaman, thank you for the wonderful pictures. after first read everything looks pretty good. i hope they help those who are visual learners. phil, count me in on the audio. the only reservation i have is that many of you know i quit often while ahead. by now, i feel comfortable that many of you are up on what we are all attempting here, so if the audo flies, i am sure others will pick up the slack in my absences. also, it is nice to see some newbies coming forward, newbie to our methodology anyway. pliko, +1600, at the end of january. i update monthly, at the end of each month, if you would care to go back. woofx, go back and look at the marvelous picture and explanation by lavaman on post 535. that may help, if not let me know. also, i introduced the goji candle going into the last week of january. sorry, i don’t have the post number right now. i think going forward i may go back and log the informative posts so that i can post them when requested. i am sure there are other comments i could make and i am going to re-read everything from sturday morning again to determine if everyone is up to speed.
later,
goji, bernie
Pippocketer:- Are you suggesting this would be during NY open hours (7AM EST, -5 GMT)? Just curious cause I don’t trade London open. If it is US trade times then I would be interested.
The TS server will be on 24/7 so I am sure you will be able to chat with someone at the same time you are trading. My times will be from approx 1.00pm GMT and anytime friday but I dont like trading friday no more it never seems to be working like the other 4 days dont you think?
Lavaman:- Haha, anything to keep me out of pointless trades. I’ll try this out for sure. Is it a USB-input headset I should be looking to get?
You can but normally you just get a set that has the normal audio jacks for sound (red/green) and plug them into the laptop or PC and your ready to go
Yes regular speakers and mic is fine I just find it better with headset cuts out the background noise from the wife lol!
I will set one up later today and send details for joining too, in the mean time go to Team speak website and download the TS2 client.
See you all later
“Yes regular speakers and mic is fine I just find it better with headset cuts out the background noise from the wife lol!”
No, no noise from the wife, absolutely NO noise from the wife! That’s rule #1 - no wife around when trading:D
Talking seriously, there’s a concern that the “chating” software may slow down the trading (order placement, SL moving, etc.), which, sometimes, is already slow enough with the broker. What do you think, Philbot?
Thanks Goji,
But if I may summarise, just to be sure I’ve got it right.
A goji candle is the one that precedes two inside bars, above the 10 ema. [long] The high becomes the entry signal to re-enter the market using the normal trigger parameters.
Although you indicate this as a re-entry option after exiting, [ profit taking, triggered out etc.], could this be used as an initial entry point if one had missed the actual trigger in the first instance?
Cheers
Woofx
Well it depends on alot of things but TS does not use up much memory and processing power. I suggest when you have it running you do a ctrl alt delete and check which applications are running and sort by processor and then memory and see which is really gobling all your PC power, you may be suprised, but be careful you do not shut down something you need running in the background. There are all sorts of tools to control your start up etc… I use to use them alot when gaming to get the best out of my PC but nothing compares better than a complete fresh reinstall or if you can afford it a new PC with 4gb ram and super dupper processing power!!
As for the internet speed i.e. ping to the Oanda server this would never be affected unless there is a problem with the internet itself (slow speeds by ISP),running TS at the same time will not fill up your pipe and effect this figure.
Well I think we have enough interest so I will set it up and see what happens.
ps. the reason it is slow is most likely memory, do you use a laptop like me they are not very good at handling multiple programs unless you have the 2 chip version, you could try upgrading your memory which is cheapeast option.
Hey Woofx,
It actually has nothing to do with the 10 EMA cross, it’s a whole different setup with it’s own rules. You’re right about the following two candles being inside bars. Once that formation has taken place, you enter a limit buy order just above the high point of the “goji candle” (that’s the candle preceding the inside bars) and you also enter a limit sell order just under the low of that candle. Just like with the EMA cross trades, you enter your orders in the next price ending in “5” or “0”. Also, it’s a unique setup and has nothing to do with reentry.
hi all,
very quick post right now with more later. i placed two trades, thus far, this morn; one PV, 7:55 am, long = +1.5 pips, and one GC trade 9:00 am entrance, long = TP. i will provide a full account later.
g, b
I’m happy to say I’ve displayed a newfound patience this morning and I have taken only those two same trades you took Bernie. I’ve been preparing myself this weekend. The only difference is I took a B/E on the 7:56 trade and +5 on the 9:00 trade. On the latter, when price hit +10, I moved my stop to +5 and got stopped out, did you just let the trade play out after moving to B/E?
7:56 long at 1.2995, B/E at 7:57. This was an attempt to trade on the break of the peak formed in the 7:30 candle.
9:00 long at 1.3035, +4.9 at 9:03. Goji candle trade.
10:04 short at 1.3040, +5.1 at 10:08. After crossing the 10 EMA, price was heading down pretty fast. Sometimes when this happens I open up my computer clock to try and time the closing of the M5 candle. Well, I got in this trade about 3 seconds before the candle’s close, thus entering at 1.3040 instead of 1.3035.
10:37 long at 1.3055, +12.9 TP at 10:40. This was another goji candle trade. In retrospect I think the 10:20 candle went one micropip over the 10:15 goji candle, but since they looked the same, I went with it. In this trade, I could have moved the TP to include the EMA cross trade that would have occurred when the 10:40 candle hit 1.3070, but I didn’t want to overdue it as I’m still pretty new to this system.
Quitting for the morning as I’m happy about the pip gain and probably won’t see another trade before 11:00.
Today’s pips: +22.9
February Total: +58.9
hi all,
i am finished for the morning. i tried to keep more expansive notes this morning since we were adding the PV method. i am very pleased thus far with the new additions. for newbies, we are using three distinct methods for trading, all three of which utilize the same five minute chart. they include:
- 10 ema cross and close, here-after, 10 ema
- goji candle, GC
- peaks and valleys, PV
this morning’s trades with additional commentary:
7:55 eol, 1.2995 PV
7:56 long, 1.2995
7:56 exit, 1.2996-5, had been to 1.3001 +1.5
as i was moving the S/L, price reversed and began dropping quickly. i simply settled on the 1.2996-5, as i was moving to the BE
8:25 possible goji candle
8:38 short order written but not submitted
8:40 eos, 1.3014-9
eol, 1.3035
9:00 eol, 1.2035 CANCELED SHORT
9:02 moved S/L to BE
9:04 moved S/L to +4, 1.3039
9:04 exit, hit TP, +12.9, +14.4
I DID NOT TAKE THE FOLLOWING TRADE BUT I WATCHED IT. IT COULD HAVE BEEN A PV TRADE!
9:15 POSSIBLE PV TRADE AT 1.3055
9:16 MAY HAVE PRODUCED +3
9:20 COULD HAVE PRODUCED A TP, DEPENDING ON HOW PLAYED
9:40 watching for possible 10 ema cross and close for a short, or PV
long, at 1.3095, if we get bounce off of 10 ema
9:50 possible GC
9:50 eol, 1.3075
eos, 1.3055
9:53 short, at 1.3055, CANCEL LONG
CAME VERY CLOSE TO GETTING STOPPED OUT SEVERAL TIMES. IF OANDA WAS STOP HUNTING AT THIS POINT, I SURELY WOULD HAVE BEEN AT 1.3065, AS SUCH PRICE HIT 1.3064-6, TWICE, 9:58 & 9:59. I DID NOT MOVE THE STOP EARLIER BECAUSE PRICE HADN’T MOVED MUCH BELOW 1.3055. ALSO, CAME CLOSE TO S/L AT 9:54.
10:04 exit, hit TP at 1.042-1, +12.9, +27.3
february total, 143.8
see you at 3:00 pm.
later,
goji, bernie
Hello everyone,
Three trades this morning:
10:05 short at 1.3035 - exit at +2;
10:40 long at 1.3070 - exit at +3;
11:50 long at 1.3075 - exit at +1.
+6 for the morning; +33 for the month.
:DLooking at my results today, I keep thinking that I definitely need a BIG winning trade. Like +5 pips, may be…:D:D:D
Afternoon Trades:
2:56 long at 1.3020, +2 at 3:01. This was a breakout of the 2:25 goji candle.
3:15 long at 1.3020, +5 at 3:31. This one took forever! I had adjusted my TP to 1.30429 with the idea that if the candle crossed 1.3030, it could also be considered a PV trade and not just an EMA cross trade. Well, it didn’t turn out that way, but I think it was a good idea because it easily could have broken out of that 3:23-3:32 congestion area to the upside. Instead it went down.
3:46 short at 1.3015, +2 at 3:48.
Afternoon pips: +9
Today’s pips: +31.9
February Total: +67.9
hi all,
i am going to type a lot because the price movement was slow enough to allow me to make extensive notation. i will give you the bottom line ahead of time. in roughly 40 minutes we generated +7 pips. many of you will know that i am totally ecstatic with this result. i am ecstatic because that is +7, that i can add to the february total and more importantly, DO NOT HAVE TO MAKE UP FOR AS IN A DEFICIENCY. i would have been pleased with the initial one pip generated. with a decent morning, and it is nice to see some of you following suit, i want to be even more defensive. you should get that impression as i review the afternoon’s trades and how i moved the S/L.
2:50 eol, 1.3020
2:50 eos, 1.3000
THESE ORDERS ARE BASED ON THE GOJI CANDLE OF 2:25
2:56 long, 1.3020, GC , REMEMBER TO CANCEL THE SHORT
2:57 moved S/L to 1.3013.5
3:00 moved S/L to 1.3018
3:01 moved S/L to 1.3021
3:01 exit, 1.3021 +1
3:02 eol, 1.3025 based on 3:00 cross and close, 10 ema
3:05 cancel long
3:05 eos, 1.3005, 10 ema
3:15 cancel short
3:15 eol, 1.3020, 10 ema
3:15 long, 1.3020
3:19 moved S/L to 1.3014
3:22 moved S/L to 1.3021
3:23 moved S/L to 1.3025
3:26 moved S/L to 1.3026
3:31 exit, 1.3026, +6, +7
february total, 150.8
see you at 7:00,
goji, bernie