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Thread: First Candle

  1. #1
    Junior Member
    Join Date
    Jan 2009
    Posts
    20

    Talking First Candle

    This is the simplest idea that I have now.

    1. Need EMA 100. (or any EMA, only one EMA line is needed)
    2. Buy : first candle open above EMA 100.
    3. Sell : first candle open below EMA 100.
    4. Take profit : any reasonable amount that is necessary.
    5. Stop loss : if buy, sl is the next candle open on the other side of EMA line. Buy position will auto close, follow by new sell position open below the line.

    6. Going to use this with 1 min or 5 min chart.

    Thank you. I will demo and think of any amendment later if I need to go 24 hrs trading on dedicated server.

  2. #2
    Administrator funyoo's Avatar
    Join Date
    Sep 2008
    Posts
    7,003

    Default

    Quote Originally Posted by duit View Post
    This is the simplest idea that I have now.

    1. Need EMA 100. (or any EMA, only one EMA line is needed)
    2. Buy : first candle open above EMA 100.
    3. Sell : first candle open below EMA 100.
    4. Take profit : any reasonable amount that is necessary.
    5. Stop loss : if buy, sl is the next candle open on the other side of EMA line. Buy position will auto close, follow by new sell position open below the line.

    6. Going to use this with 1 min or 5 min chart.

    Thank you. I will demo and think of any amendment later if I need to go 24 hrs trading on dedicated server.
    Hi duit and welcome,

    Here is the First Candle Trader.
    Attached Files Attached Files

  3. #3
    Junior Member
    Join Date
    Jan 2009
    Posts
    20

    Talking Thank you

    Funyoo.

    Thank you very much. Will be back later with results.

  4. #4
    Junior Member
    Join Date
    Jan 2009
    Posts
    20

    Talking Progress

    So far, 9 hrs trading, at dedicated server, +109 pips and -112 pips. Net loss 3pips.

    My idea not that good ? Need to adjust take profit and EMA setting. Traded 2 pairs, using 5 min time frame. I believe if using higher time frame, that will be more profit.

    Will update again later.

    Thanks.

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100, candle, demo, profit, server, stop, thank you, time, trader, trading

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