im going to develope a new short term trading system on gbpjpy.
as you know this pair moves look like a dragon so we have to create a system which can move and act like a dragon and the one which im going to introduce can act like that but because its a new creation it has some weakness that i need you to help me to solve them and make this work better.
(sorry for bad writing cause im not pro in english)
my system always can make about 4 or 5 signal in a day on this chart with volatility to make about 200 pips in one good day.
we do not trade when news are going to publish.
this is the perfect signal in this system who made more than 50 pips just in one trade.
I am looking for your good system, becasue I love GBP/JPY but could not catch the right trend anywhere so maybe your system will change my life
Thanks for your support! show us your system soon.
more detail :
time frame : m15
r/r : at least 1:1
this is another perfect signal but as you see we have a retrace after we entered but the stop didnt hit and it shows that our stop is perfect.
stop : last high + spread + 3 pips
as you see the best time to exit is waiting for ao to cross and make second price bar but you have to be carefull about the bands when price touch the bands we have to be carefull about pull backs.
some times we cant make sure about this area for exit or stay so i made another thing in this system which can make alerts for us to be more carefull.
im sure you heard about volatility quality indicator which shows important areas that market can make trends
so i used that for alerting us
you may ask how we can use that in short term systems ?
the answer is : when vq made its signal you have to be more carefull because at this important moment market will decide to contintue or turn back .
and also i have to show you a fake signal that hit our stop
some times we have to gave market stops in a trendy day but we can enter opposite the stoped signal and make the loss turn back.
this the most interesting part in this system and im going to show you how!
i have to say we can use this opposite trading system just when a perfect signal fails not for fake signals.
as you see you can turn back your loss and make more profit from a loss trade!
this is another perfect signal in live mode before it complete that i saw a bit late ( my bad luck)
now im going to show you how volatility quality work and how we can use it as a warning alert to exit or to stay.
look at the picture carefully
when this indicator make its signal we notice about price movements if it suppose to turn back with just some pips we will find out or if it suppose to continue we will undrestand with just some another pips as you see in picture!
those area and price marks is the place that vq parafresed!!!
ah i forgot something
the template and indicators !
sorry for asking but i didnt see anything on VQ.. its blank. or its me that blur? can u explain in detail the rule of this system
actually we want to trade like a waverider in this chart
we might be able to call this system : a scalp system on gbpjpy
yes you are right you can not see anything on vq window and also you dont need to see anything , you just have to pay attention to this indicator when it makes its alert!
when it makes that alert the place is the most important probability for the price to turn back as you see in the picture!
sorry i uploaded wrong template here is the correct one!