The goji system, for lack of a better name

Trading Systems
681

Hey all,

I went through Bernie’s February results to see what the stats were among the different types of trades. If I had a trade that fit multiple criteria, I counted it as a 10X first, a GC second and a PV last. So, for example, he had a trade that fit all 3 criteria, but I only counted it as a 10X. I didn’t do this with my own results, because there were times I didn’t follow the system as well.

I don’t know how people usually show these numbers, I’m listing pips won first, and lost second. The second number is the percentage won out of the total.

EMA Cross trades:

215.2:42.5 83.5% Win.

Goji Candle trades:

86.1:10 89.6% Win.

PV trades:

77.5:50 60.8% Win.

I’m going to trade this system cautiously now. I’m going to ditch the PV trades completely for two reasons. The first is that whenever Bernie loses, my losses are amplified. I’m only going to take the trades that have a bit better of a win rate. The second reason, is that I think the PV trades are too subjective for me. When I want to trade, I can usually find a peak or valley to trade off of. When I’m looking for trades, I’m more apt to make mistakes.

682

hi all,

i did not get on the audio this morning. i took an 8/8 trade at 8:00 am. it was good for eight pips. with the news at 8:30 am and the way things have been going, i decided to quit for the morning. i will be back at 3:00 pm

the trade:

8:00 eol, 12710
8:00 long, 12710
8:01 exit, 1.2718 +8

february total, +228.6

later,

g. b.

ps. good work lavaman, it was the PVs that killed us yesterday morning. i am with you and i am gong to eliminate the PVs for the time being.

683

hello, everyone,

My personal impression was that ALL types of trades have been killing me this week, with the PV trades, of course, being the best at that.

I took several trades today, -4.4 this far.

The situation does not look as disastrous as it was during the three previous days, not many candles with long “****s”.

Later

684

Hello everyone,

I’m finished for the morning and for the day.

+14 for the day, February total is -72.9.

I also made a couple of changes to my trading. First, I decreased the value of my pips to $5 per pip and I am going to keep it this way, unless some MAJOR changes in my results happen; and I will also limit my trading time to 8-11am EST, no matter what happens.

I connected to the Teamspeak twice this morning, saw EZ was there, but it looked like he did not hear me. Are we having a problem there?

All the best.

685

I’ve just noticed, they “starred” a word in my post:D, sorry, I had no idea that word was forbidden. It rhymes with “wicks” and has another first letter.:stuck_out_tongue:

686

Morning Trades:

8:27 short at 1.2695, +6.9 at 8:31.

8:47 long at 1.2730, -10 at 8:52. Should have been B/E, long story.

9:56 GC short at 1.2735, -15 at 9:59. Messing with the system, this is what happens when I’m losing it and this is also what amplifies my losses! Never move stops people!

10:03 short at 1.2730, +4.9 at 10:07. No good reason for this trade.

10:08 10X short at 1.2720, +12.9 at 10:10. TP actually wasn’t there for some reason, but I closed in my stop to be sure I got it.

Taking a break now, if I had followed the system exactly, I’d be at 9.8 right now.

11:05 long at 1.2700, +9.9 at 11:06.

11:38 short at 1.2695, B/E at 11:39. Anyone see that candle that spiked down 100 pips at 11:41?

A little sloppy this morning, but it turned out alright. Part of the reason for the sloppiness is explained below. chasingpips (or should I say, “Potty-mouth”), I got on teamspeak for just a minute this morning and saw EZ there, but didn’t hear any audio and I left. I was pretty busy as well. I’ve been looking at the EMA Step system on here for a while. Since that’s a longer term trade, I thought I could open up a sub-account on Oanda and try trading that while I continue to scalp the goji. With the sub-account, I can set up two profiles and toggle between them, one with the 10 EMA and the other with the indicators needed to trade the EMA Step. It works well because I can go short in the primary account even if I have a long position on the sub. The only problem is the speed in switching accounts, it seems a little slow on my computer. Also, it might just be too much to juggle. We’ll see. I’m trading really small on the EMA Step until I figure out if it works for me, but I did grab a few pips in my inaugural trade (I’ll obviously never count those in my goji results).

Today’s Pips: +9.6
February Total: -71.6

687

HI ALL,

the range on the e/u has been terrible since 12:30 pm. i am not trading at 3:00 pm.

later,

g. b.

688

hi all,

i have found i do not like to trade the fifteen minute time frame. i am making some changes. i have already started this at 7:00 pm this evening. you may like it or you may not. i am abandoning the the goji candle and and the peak and valley trades. again, this is what i am doing and you are free to do as you will.

currency: aud/usd
S/L: 17
TP: 46
ema: change to eight (8)

the major difference: instead of simply closing +/- the ema. the signal candle must open and close above or below the 8 ema. entrance is on close and/or open, which ever you can get done. trail stop by the 17. exit at +46 or, move TP line in conjunction with the trade. ABSOLUTELY CLOSE THE TRADE ON A CLOSE ABOVE OR BELOW THE OPPOSITE 8 EMA.

my actual trade from last night:

7:15 candle opened and closed below the 8 ema
7:20 short, .6454
9:30 exit, .6413 +41 pips

i am not going to count this trade in my monthly log because i did not identify what i was going to do ahead of time. even though the trade took awhile, i was able to relax greatly during the trade because of my built in S/L and TP. also, this method may incorporate oanda’s trail stop more fully than what we have been able do. naturally, one trade does not a strategy make, however, i am quite pleased with the 41 pips.

goji, bernie

689

Bernie,

I have been following your system for a while now and really like it. I don’t get to trade that often because of my work schedule, but this system seems to fit my time (and patience) requirements nicely. Thanks for putting in the effort to update us on your progress.

I do have one question for you…

You mentioned something in your post last night about trading on the fifteen minute timeframe. Did I miss the post where you changed your system from M5? If I did, I apologize.

I like the change to the 8 ema on the aud/usd, and the new position rules. I believe setting a trailing stop and letting it run is the way to go.

John

690

hi all,

john, i am concluding the worst week this system has had since i started 10-6-08. earlier this week we were getting bounced all over the place, so i went to the 15m to eliminate noise. i also took some time off to do some research. today, was a much better day and a great way to end a tough week. the trades:

8:00 e/u, 8/8,
8:05 short, 1.2606
8:07 moved to BE
8:11 exit, 1.2596, +10

8:30 news

8:56 a/u, long, .6392
9:05 exit, .6386 -6, +4

9:10 a/u, short, .6383
9:15 moved S/L to .6393
9:20 moved S/L to .6387
9:26 moved S/L to .6382
9:30 exit, .6382 +1, +5

9:45 a/u, long, .6391
10:00 exit, .6422, +31, +36 (NOTE: MOVED S/L 6 TIMES DURING TRADE)

february total, 264.6

have a great weekend,

goji, bernie

691

Hello everyone,

Today’s trades:

  • 9:40 - 10Xlong at 1.2595 - exit at TP +12.9;

  • 10:55 - 10Xshort at 1.2620 - exit at +3.0.

This makes +15.9 for the day and -57.0 for the month.

692

Well, I reviewed my notes and this is what I see.

I am at the lowest point on my account since I started trading about a year ago.

During the year, I did a lot of stupid things, I messed up with systems, I was not consistent, BUT: I managed to stay profitable somehow. I kept insreasing my pip value.

The only thing that was able to bring me in the “negative” was following this system this week, strictly by the rules, in precise and consistent manner:p

Let’s see what happens next week.

Have a great weekend all of you.

693

Correction:

The lowest point, obviously, was two days ago:), not now

694

chasingpips-

I know what you mean! It’s funny, I traded on a demo account for a few months before going live, and my demo account is actually up about 10%, while my live account that I “graduated” to, is down 50%. Well, I didn’t trade the goji today, though I think it’s a great system that just hit a rough patch. I’ll continue to monitor you and Bernie (and whoever else)'s results. I may be back.

I’m in that stage (after about 4 months of Forex experience) where I just need to continue searching for a trading style that fits me (however, I DO NOT want to turn into a notorious strategy jumper!). I’m not sure if minute-by-minute scalps are it because I tend to go wild in this approach. I caught 41 pips since yesterday trading the EMA Step system with 3 trades and no losses, so I’m going to see how that goes for a little while. I’m trading real small now so I can test the waters without burning out. I know I’ve got a lot of learning yet to do.

Have a great weekend guys, it’s been fun goji-ing it up with you fellows!

695

Lavaman,

Yes, don’t dissappear, look at us from time to time, I feel like we’re almost relatives now:D

696

Yes chasingpips, I’ll be around, maybe we can even chat it up on Teamspeak sometime. It would be fun to keep in touch and share our experiences as I feel we’re both kind of in the same boat with regards to trading.

697

Lavaman,

Sorry I missed you Thursday on TS. I was logged in but probably away from my computer. I see you are trading EMA Step. I was just wondering if you have the ebook for the EMA Step system? I you do would you be willing to forward it to me? Let me know if this is possible and I will get you my email address. Good luck to you and stay in touch.

698

Hey ezinvestor,
Yeah, send me your email by private message or whatever.

699

Lavaman,

You don’t have your profile setup to get PM’s. But if you click on my name you can send me a message and I will respond with my email. Thanks:D

700

Hi Bernie,

Can I just check I understand this correctly,

  1. We are not looking for a cross candle but a candle that stays on one side of the ema i.e. opens and closes above or below the ema?
  2. Entrance - Do you mean enter just as that candle is closing or the new one opening?
  3. What do you mean close trade on a close above or below the opposite candle, which opposite?

Hope you can help

I didnt trade Goji this week as I was busy early on in the week and the results later on in week kept me out. I was doing some long trades however and thsi week has been excellent for those with the massive swings, if you was in them at the correct time you would of done well.

On a point about the TP, it makes sense we have a rule that prior to entering we would have checked the daily/hourly & 30min trends and if in favour increase our TP entry if the reverse reduce it slightly?
When I am in one that seems to be going in my favour I move the TP way out of reach and revert to trying to manage with the SL like using it as a trailing stop but sometimes have not been fast enough to react on the TP which annoys me on some trades.