RandyCandles - Information - page 57
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Volume is useless in forex. It is critical in stocks, commodities, futures and such where there is a central repository that tracks the total number of units traded. But in Forex??
If you want to see volume, right click the chart and select it. Does it add anything new that is tradeable or of a confirmation/denial nature? Not that I can tell.
Volume is useless in forex. It is critical in stocks, commodities, futures and such where there is a central repository that tracks the total number of units traded. But in Forex?? If you want to see volume, right click the chart and select it. Does it add anything new that is tradeable or of a confirmation/denial nature? Not that I can tell.
The broker's specific volume calcs are not what I was referring to. I just thought it might be worthwhile to try and find something to fill that missing piece which traders in other markets are able to see. If you feel there is nothing available "out there" of value, then np. The lack of volume information for spot FX traders is most likely by design anyway...
sigh
Well I hope no one runs off because of my comments and desire to discuss Randy Candles improvements. Rads system may work fine and thats great, I really don't care either way because it has nothing to do with Randy Candles.
If anyone got offended by my comments, well then tough shit. Grow some balls and a thicker skin. My comments were offered as constructive criticism and voiced my personal opinion. If someone isn't man enough to listen to constuctive criticism or new ideas without letting their ego get bruised well then I doubt they will make it in trading or anything else in life.
I was not knocking anyones system or attempts at improvement to Randy Candles - merely pointing out the fact I don't think any of these additional indicators have provided any NEW data or input to the trader. The MA's, HA candles and wicks (size, color and placement) provide everything - the trend and momentum data themselves. This is all I said and I still stand by these words. There is nothing offensive in these words.
So why don't we discuss some things of substance instead of just posting cherry picked screen shots?
( - just kidding!! chill out...lol) Things like some good trade mgt rules for Randy Candles - entries (market or limits / below market?); exits (all or partial lots at what point? trail stops or wait for reverse signals?, stops); pairs that work best; times that work best for those pairs; timesframes that work best on those pairs(m1, m5, m15, h1)?; etc, etc, etc.
BTW- to catch bigger moves with RC you simply goto a higher timeframe which is all you are doing with your MTF indicators - so that little jab about let me catch my tiny 10 pip moves while you catch the huge moves is invalid
Good Trading to all.
SummitFX, Rad or IT guy do you have any experience trading this setup on any longer term timeframe ? Should it work as well ?
I originally traded RC on 15 minute charts but as tracej points out above the concept of RC is based completely on price action. I don't see any reason that they wouldn't work on higher timeframes, but because of my penchant for instant gratification, I have never traded any system on any timeframe higher than 15 minutes.
Hope this thread keeps going
Hi TJ,
Thanks for your imput.
Personally I like the RandyCandles and the 1M charts suites me at the moment so that I can get my feet wet so to speak. I'm ok with 5, 10, 20 pips, it all ads up.
At a later date I will go to longer time frames, but for now 1 minute me is ok.
However, I have noticed that once I get into a 1 min trade and flip over to a 5M or high it can show me when to get out or stay in as the case might be.
Or before I get into a trade higher time frames can show me where the over all market for the next few minutes or hours is going.
Personally I see benifits from both methods and would prefere that neither one gets a bashing from anyone for any reason.
Chat Later.
Vegas
Well I hope no one runs off because of my comments and desire to discuss Randy Candles improvements. Rads system may work fine and thats great, I really don't care either way because it has nothing to do with Randy Candles.
If anyone got offended by my comments, well then tough shit. Grow some balls and a thicker skin. My comments were offered as constructive criticism and voiced my personal opinion. If someone isn't man enough to listen to constuctive criticism or new ideas without letting their ego get bruised well then I doubt they will make it in trading or anything else in life.
I was not knocking anyones system or attempts at improvement to Randy Candles - merely pointing out the fact I don't think any of these additional indicators have provided any NEW data or input to the trader. The MA's, HA candles and wicks (size, color and placement) provide everything - the trend and momentum data themselves. This is all I said and I still stand by these words. There is nothing offensive in these words.
So why don't we discuss some things of substance instead of just posting cherry picked screen shots?
( - just kidding!! chill out...lol) Things like some good trade mgt rules for Randy Candles - entries (market or limits / below market?); exits (all or partial lots at what point? trail stops or wait for reverse signals?, stops); pairs that work best; times that work best for those pairs; timesframes that work best on those pairs(m1, m5, m15, h1)?; etc, etc, etc.
BTW- to catch bigger moves with RC you simply goto a higher timeframe which is all you are doing with your MTF indicators - so that little jab about let me catch my tiny 10 pip moves while you catch the huge moves is invalid
Good Trading to all.Lol
I love scalping because I am in and out, hopefully made a bit and I don't have to worry about being in the market while I am away from my PC.
Thanks for sticking around ITGuy
I originally traded RC on 15 minute charts but as tracej points out above the concept of RC is based completely on price action. I don't see any reason that they wouldn't work on higher timeframes, but because of my penchant for instant gratification, I have never traded any system on any timeframe higher than 15 minutes.
10 pips?
I love scalping too, but who said anything about only being able to get 10 pips. Look at todays GBP/JPY M1 chart from around 21:35 to 22:00ish. There is a nice 100 pip move on a 1min chart there.
Zoom out to 15 mins there are TWO perfect setups where you could have gotten 250-300 pips each time! 500-600 pips in one day on one pair on one timeframe.
Zoom out hour and you will see 500-600 pip moves. 1D you will see 1000+pip moves. 5m you will see 100-200 pip moves. This baby works on all timeframes. It does seem to work better with Yen pairs in my opinion though due to the length of trend runs. EUR/USD looks very choppy to me an untradable at lower timeframes.
Hey Trace,
Don't give yourself so much credit bro. I said I would be leaving a while back long before you posted. I wish you all the success in the world with the RC's. I have a system I know works and have been around the block many times. If you want to spend your time and effort figuring out what Golden Eye forgot to tell everyone, fine. I couldn't care less. I hope you figure it out!!
In the mean time there is too much going on in the markets to be sitting around playing with this stuff. If you want to get serious about your trading come and join me and we can all get rich together. Just don't give me any of that multi-WTF BS. I have been doing this for too long and have tried every thing out there, believe me, to fall for that crap. If that is the case then where is your brilliant system using indicators from behind the magic doors from "StockCharts.com" or wherever? That's what I thought, you don't have one.
It is not rocket science. It is simply having a few indicators that accurately reflect price action and having the balls to place the trade. The second part is actually the hardest part of it all.
It is easy for you to post comments and criticism from the backseats. Hell any of us can do that. But I couldn't give a rat's ass about your comments. At least I laid it all on the line and showed my hand for all to see. You won't find a more accurate system anywhere, period. When you have something valid to offer to everyone, I hope you share it. Until then, I will concentrate on my system and helping others to become successful.
This is my last post by the way. So don't worry, I am not missing anything. If you want to come over feel free and this will never be mentioned. Other than that to everyone else, thanks for all your input and assistance and I hope I was able to provide at least a little insight along the way.
Over and out.
Hey Trace,
Don't give yourself so much credit bro. I said I would be leaving a while back long before you posted. I wish you all the success in the world with the RC's. I have a system I know works and have been around the block many times. If you want to spend your time and effort figuring out what Golden Eye forgot to tell everyone, fine. I couldn't care less. I hope you figure it out!!
In the mean time there is too much going on in the markets to be sitting around playing with this stuff. If you want to get serious about your trading come and join me and we can all get rich together. Just don't give me any of that multi-WTF BS. I have been doing this for too long and have tried every thing out there, believe me, to fall for that crap. If that is the case then where is your brilliant system using indicators from behind the magic doors from "StockCharts.com" or wherever? That's what I thought, you don't have one.
It is not rocket science. It is simply having a few indicators that accurately reflect price action and having the balls to place the trade. The second part is actually the hardest part of it all.
It is easy for you to post comments and criticism from the backseats. Hell any of us can do that. But I couldn't give a rat's ass about your comments. At least I laid it all on the line and showed my hand for all to see. You won't find a more accurate system anywhere, period. When you have something valid to offer to everyone, I hope you share it. Until then, I will concentrate on my system and helping others to become successful.
This is my last post by the way. So don't worry, I am not missing anything. If you want to come over feel free and this will never be mentioned. Other than that to everyone else, thanks for all your input and assistance and I hope I was able to provide at least a little insight along the way.
Over and out.Hey, if your system works, then great, congrats. I'm not bashing your system and I know you had already said you were leaving after admitting that it totally had nothing to with RC at all period. So what are you getting all pissy about? My last post was directed at the posters that gave me hell after my first post and accused me of running you and summitfx off (eventhough you already said you were leaving since your system has nothing to do with RC).
I simply stated I didn't think any additional indicators would help with RC because all the info you need is already provided by the candles themselves - then everyone got all offended and went ape shit like a bunch of school children. If someone can't post an EXCELLENT observation in an attempt to improve or build a system w/o everyone getting all pissy because of their egos, then that makes this place virtually worthless.
And yes I agree. It's not rocket science. Trading is about having a decent system that will give you a statistical edge. The key ingredient of that is money mgt/trade mgt. Lack of that is why 90-95% fail. They continue searching for the holy grail of the right combination of pretty indicators that look impressive and complex instead of finding something simple that works well and applying good MM/TM rules to it to make it a winning system. It sounds like you are off to a good start with your system - now focus on applying good MM/TM rules to it and you will do good.
I'm a fulltime pro fx trader for the last 2 1/2 years with no other source of income so I take this shit serious so I may come across as harsh at times, but thats because I have a low tolerance for kids playing with demo accounts and pretending to be something they aren't and for the sheep that follow them blindly. And no I'm not saying this is you - but its a general observation of most trading boards - there aren't many thinkers on them, and when one does post some good observation they are quickly shot down by the posers and their followers.
Best of luck with your new system.
Hey SummitFX - how have you been doing with RC? I know we talked alot about back in April. What kind of experiences have you had with it? As you can tell I absolutely love it and can honestly say it provides the best setups I have ever seen. Also by its nature keeps your losses very small. To me its as close to the "holy grail" of setups as you can get and the rest is up to the traders trade & money mgt.
I also wanted to let you know none of those comments were directed at you as we have talked in detail in the past and I know you are a good guy and good trader. I am curious though why you decided to add more indicators to RC. Did you run into problems that needed addressing or were you just a tinkering? I am guilty of tinkering with new shit constantly. I'm a hardcore geek and love figuring out indicators and the best settings, etc. But that has also been my worst enemy over the years - "the grass is always greener syndrome". I'm constantly battling with myself to stop doing that and catch myself falling into that trap frequently. Thats why with RC I am determined to leave the setups alone unless I find a pressing need to solve a problem with it - but so far I havent found one to be honest.
Talk to you later.