Advanced system #8 (4 CANDLES STRATEGY)
Submitted by Edward Revy on December 23, 2007 - 05:22.
The following strategy was submitted by James Ayetemimowa.
Thank you, James, for your great contribution!
CURRENCY PAIR - GBP/JPY
4 CANDLES STRATEGY
- Draw horizontal lines on the highiest high and the lowest low of the first Four candles of the day.
- Trade the Valid Breakout of the eigther lines.
- Check Stochastic Slow on 4hours Time frame.
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good job there james keep it up ok.
grace_m2007
james thanks u and u and u infact it is wonderfull cos i used it on gbp/usd and eur/usd and it works,i open a demo account with $300 and i turn it to $613 in 7 days cos i make one trade per day and target just 10pips on high lot. laricole.
e-mail: laricole4u[at]yahoo.com
Hi laricole, can you please tell what the sever timing of your trading platform is when you used it in trading this strategy.
James - or others using this system - apologies asking this again but I'm still confused as to which 4 candles to use. I trade with ACM based in Geneva who open and close at 21:00 GMT. Do I therefore use the 22:00, 23:00, 00:00 and 01:00 (GMT) candles or is it specifically the first 4 candles of the calendar day in Geneva 01:00, 02:00, 03:00 and 04:00 (GMT)
Thanks for your help.
I decided to find out what time zone Jame's trading platform operates in. If to look back at Dec 20, 2007 the charts appeared to be in GMT+2 zone (you may double check to be sure). I think from there you can decide what time zone and hours you'll be using.
Also I'd try GMT zone and EST zone to compare results.
Hope this helps,
Thomas
James,
I have been back testing this method, but have adapted it to using 3 hours, instead of four. It seems to work quite well. Great, simple strategy. Thanks for sharing.
David j.
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