The goji system, for lack of a better name

Trading Systems
701

hi all,

phil:

  1. yes, cross and close
  2. yes, either will do, you can actually use a market order
  3. i may have written this poorly, so here is an example; if long, and price reverses and closes below the 8 ema, you are to close immediately. like wise, if short and price reverses and closes above the 8 ema, you close.

i hope the explanation helps. this was a very good week to be away from the goji system. i will not abandon it totally and will monitor it going forward. with the results i have had, i still believe it is a viable system. like all systems they will have their ups and downs. this is not a static market we are trading in, in fact, it is the most dynamic in the world, thus it is constantly changing.

g, b.

702

hi all,

I HAVE BEEN WORKING AGAIN. as such, i sm going to add another exit strategy to my recent alteration. i will refer to it as a two bar low, or a two bar high. here is the basis for this exit. you have moved the TP in your favor and you are above +46. you now have no plan for an exit, unless you wait for a cross of the 8 ema, which could be a distance off and have you give back considerable profit. ok, here’s the addition; if you are in a long trade that has moved up considerably, on the close of the second consecutive red candle you exit. naturally, everything is opposite for a short.

ex: a/u, entry, 11:45 am est, .6406

reached high of .6500 at 12:10, first red candle.

exit: 12:15 pm candle, at .6481, +75*

  • i would count the doji candle as red since it is NOT GREEN.

hope everyone understands this addition,

goji, bernie

703

Hi all

Where’s everyone. I hope to hear more from you folks to see how things are.

tirasong:confused:

704

Hello everyone,

Today’s trades:

8:40 - 10X short at 1.2780 - exit at SL -9.9;

8:50 - 10X long at 1.2825 - exit at BE;

9:10 - 10X short at 1.2805 - exit at +5;

10:05 - 10X short at 1.2775 - exit at TP +12.9.

This makes +8.0 for the day and -49.0 for the month.

All the best.

705

hi all,

i have made several changes, again. this is the result of additional work done over the weekend. first of all, i have reduced the S/L to 17, and the TP to 23. also, i am only going to take three trades per day. remember, i am retired. starting this morning at 2:00 am est, i took one trade, my second trade was at 8:00 am est., actually it was a tad earlier this morning, and i have just concluded my third trade at 7:00 pm est. these times represent the openings of the euro, american, and asian-australian markets. since everything i attempt to do is momentum driven my attempt at trading these times is to capture the momentum at the individual openings. i will do this until i find it getting to me, the sleep irregularities, that is.

here are my three trades for the day: (abbreviated)

2:00 long, .6520
2:20 exit, .6543, TP +23

7:40 short, .6480, entered trade late, as 7:40 was when i came on line
7:50 exit, 6457, +23, 46

7:00 short, .6407
7:30 exit, .6400, +7, +53

i am going to start the march log today. i am doing this because, the margin requirements for the aud/dol allow me to use twice the units i was using with the e/u. thus, should i continue as previous, the results would be skewed. by the same token, this is also the reason i reduced the S/L, as previously indicated. i wanted to reduce my risk per trade.

march total, early, +53,

february total, +264, closed for the month

later,

goji, bernie

706

Hi Bernie,

So I see there is a new pair, a new setup, and new trading times. The pair and the trading times are clear. I want to try and understand the setup. So let’s see if I have this correct.

  1. Use 15 minute chart
  2. Use EMA 8
  3. Price must open and close above or below EMA 8.
  4. Place market order at open of next bar with sl of 17 and tp of 23

Does this describe the trade?

Art

707

hi all,

ez, everything is correct except for the time. i have gone back to using a five minute chart. i feel the open and close above/below the 8 ema should eliminate much of the noise we were getting, that created the use of the 15m.

here is the first trade of the day:

2:20 long, .6459
2:31 exit, .6428, hit TP, +23

later,
g, b.

708

Wow. Four trades and +76 pips with the updated system…not too bad!

Bernie, are you trailing the SL by 17? Or, are you moving the SL closer than 17 as the trade progresses?

John

709

h all,

john, i am still moving the S/L line, so it is not a trail stop of 17. however, i am moving it much more slowly than when trading the e/u. also, i am enjoying this right now. well, obviously, it is making money. however, my trade day is now totally estblished. i know at the end of the day, i will have three trades, or less. also, i realize this may work in the other way also, however, in my 8:00 am trade this morning, i produced nine (9) pips. since i am able to use twice the units with the a/u as with the e/u, i would have needed to produce +18 pips on the e/u for the same profit. thus, i feel i am trading less, which equals less exposure, but profitting more.

the morning’s trade:

8:30 short, .6435
9:03 exit, .6426, had been to .6422, +9, +32

march total, +85

i will be back at 7:00 pm est

presently, it is time for a nap.

goji, bernie

710

Hello everyone,

Another morning trading the original goji system.

9:05 - 10X long at 1.2750 - exit at SL -9.9;

9:40 - 10X long at 1.2745 - exit at SL -9.9;

9:50 - 10X long at 1.2750 - exit at +1;

10:05 - 10X short order placed at 1.2705 - triggered at ~10:15 - exit at SL -9.9;

10:30 - 10X long at 1.2740 - exit at +1;

10:50 - 10X long at 1.2765 - exit at SL -9.9.

-37.6 for the day, -87.6 for the month.

Why am I still trading this? Well, I thought it would be wrong to dump a generally profitable system (at least, according to Bernie’s reports) after absorbing the worst it could give you. Or, was it the worst?

711

Hey guys,

Bernie - you’re so adaptable! Nice to see your strategy change is working. I’ve fully resigned to the fact that it’s going to take a few years most likely to become a consistently profitable trader. As such, I’ve reduced trading size and decided not to make it anything more than “peanuts” until I can show at least a few months of 1) consistent profits and 2) following a trading plan that I understand and gain an intuitive feel for.

I think that one of the obstacles some of us have in following the goji, is that, since we haven’t been winning on it from the get-go, we haven’t grown the confidence to act on it only at the best times and use discretion when it’s not working. It’s very dependent on a market flowing in a certain way, and I think your adjustment was a good way to go. I hope after 6 years of trading I’ll be able to make similar judgment calls when the market tells me my trading plan isn’t working any more.

712

hi all,

lavaman et al; i think one of the important things to consider is that when things are going against you, that may be the time to trade less, not more. the last day we were on the audio is a good example. i am not placing any blame, believe me. however, i know if i would have been on my own, i certainly would have quit when up the 14.9, for sure the 9.9. i felt a bit of obligation to some of you guys and i hung around. now here is the important part and this is why i cast no blame even unto myself. if that had not happened, perhaps i would have continonued and not made any changes. i still think the strategy is a good one. if you look at what i am presently doing, it’s not that far from what i was doing. i will admit there is something i like about the one and done element. perhaps, this is what i was ultimately looking for. time will tell.

time to go to work, later,

g, b.

ps. here is my 7:00 pm est trade:

6:50 short, .6525
7:00 moved S/L, .6529-5
7:02 S/L, to BE
7:04 S/L, to .6517
7:08 exit, .6517, +8, +40

march total, +93

now, on to 2:00 am est

713

Hi guys,

Nice to hear you have been using the chat thing at least its not been wasted I will try to get on soon.

With regard to the new strat on A/$ the times you seem to be having good trades I am at work or in bed when I get back about 1pm GMT the pair doesnt look like it would ever work under the rules now being applied.

So I will have to wait until Thursday /friday to give it a try.

Good move Lavaman reducing the size thats what I have done and if it takes a year to be able to say that I can make regular profit each month so be it but thats the day I will trade a full lot!!

714

HI ALL,

well, the strength of any system is that it must be able to get you out of negative trades early. this monrning’s trade got me out of a possible reversal very early. since i am now off to sleep, i will have to wait until tomorrow morning to see what really happened. also, though i am still concerned with the bottom line, i am going to give you how each trade works for each time slot. this early morning’s trade:

2:00 short, .6506
2:15 exit, .6508 -2, due to re-cross of 8 ema

march total, +91

8:00 7:00 2:00
+32 +15 +44

see you in the morning,

goji, bernie

715

hi all,

time for a nap. here’s the morning trade:

8:05 long, .6498-5
8:12 moved S/L to, .6490
8:18 to, BE
8:30 to, .6504
8:32 to, .6505
8:35 exit, .6505 +6.5, +4.5

march total, 97.5

8:00 +38.5
7:00 +15
2:00 +44

see you at 7:00 pm,

g, b.

716

Hello everyone,

The original system today:

9:15 - 10Xshort at 1.2795 - exit at +5;

9:55 - 10X short at 1.2790 - exit at TP +14.3(???:confused:).

+19.3 for the day; -68.3 for the month of Feb.

All the best.

717

hi all,

i have just concluded my one and done for 7:00 pm est. i forgot to mention this morning but right after my 2:00 am est trade last night, the a/d turned around and would have generated a TP trade. as i indicated i went to bed. now, i only mention this in passing. trading as i now am will probably produce some similar situations in the future. i certainly will not allow things like this to bother me. things like this happen when trading and you can not allow them to bother you. this evening’s TP trade:

7:25 long, .6476-7
7:31 moved to BE
7:31 moved to .6484
7:32 exit, 6500, TP, +23, +27.5

8:00 +38.5
7:00 +38
2:00 +44

march total, +120.5

see you at 2:00 am est

goji, bernie

718

hi all,

oooops! went to bed and didn’t record the results. i will catch up here:

2:00 long, .6478
2:08 m S/L to .6467
2:13 m S/L to .6476
2:19 exit, -2

7:45 long, .6512-9
7:49 m S/L to BE
8:02 exit, 6536, TP +23, +21

8:00 +61.5
7:00 +38
2:00 +42

march total, 120.5

see you at 7:00 pm est

goji, bernie

719

Hi all,

Going well again Bernie I see well done!

Its nice to see chasing is still persevering with the old system I think that is a tribute to you mate… to carry on testing it using the old method.

There has been a lot of hipe about some new website based on some championship results which I think alot of people are spending time evaluating at the moment which is probably why its quite.

Ive got the swith stratedgy problem at the moment but I have found a system that is similair to yours bernie that has some other detials to help with the trades, when I finished evaluting it I will let you know the differences an see if the signals would of kept you out on your BE or SL and allowed you to go all the way or even further on your TP.

See you soon

720

Hi Philbot,

Nice to hear from you.:slight_smile:

Signals to keep us out of BE/SL? Do such signals exist?:rolleyes: I would be extremely interested.

This morning +15.2 (the original system); you all know the strategy, so I am not listing the trades.

February -53.1.

I will not be trading tomorrow, so see everyone in March and have yourself a great weekend.