Advanced system #8 (4 CANDLES STRATEGY)
Submitted by User 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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When you say "quantity" in your origional post, do you mean Volume?
If not can you explain a bit better what you mean by "quantity"
QOUTE:
- Trade the direction of the 4hours stoch with higher quantity
- Trade direction against 4hours Stoch with lesser Quantity
Hi Steve,
I believe that's exactly the time which we'll be looking to capture - first 4 hourly candles of the day. A bit early though (in terms of waking up) for traders with GMT time zone. Although, in the original strategy rules there were no time zone preferences mentioned, instead, in the comments later it was suggested to use whatever time zone your broker platform gives you. So, it gives you a freedom of choice and a room for experiments with different time zones.
Best regards,
Edward
I'm sure the term "quantity" there means the size of a position.
Best regards,
Edward
I think this is the strategy that Firepips guy is using in australia and charging 250 a month for!
As far as I can see, the system was published here in 2007, so the Firepips are probably the followers, lol.
Is this trading strategy still in use by James? Is it still working profitably?
I am going to start Demo trading it. Thank you James:)
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