Hello house I have gained a lot in this forum, now i want to pay back, i have a trading method base on doji candle stick and it is working for me anybody can try it and post the feedback for house to see.
This is how it works, whenever a doji is formed, i put pending order 10 pips plus spread above and 10pips below, you don't need to consider spread for sell pending order
1 Doji formation, doji is candle with open and close at the same price or not more than 2pips
2 Time frame=4hours, and daily candle
3 put pending order 10pips+spread for buy
4 put pending order 10 pips below for sale
5 For 4hours time frame use 50stoploss and 100 limit order or put your stop loss at the opposite side
6 For daily time frame use100 stop loss and 200 limit order or put yours stop loss at the opposite side
7 don't risk more than 5% of your account on a trade
It works because doji usually form at support or resistance or during market consolidation preparing for breaking out.
The trade has set up on eurchf and eurjpy, but eurchf has already broken but you can trade eurjpy today 05 _07_ 2011
Sell at 116.92, stop loss= 117.86, limit=114.92
Buy at 117.86, stop loss=116.92, limit=119.86
If you are interest in using this doji system nzdjpy is ready for setup today 06 07 2011, as i describe above so try it
The EURCHF i entered on 04 07 2011 has reached 200limit order, i sell at 1.2291 and exist at 1.2091, just to keep you update on this method.
The trade on EURJPY that i mentioned above has reached target at 114.92 today 08_072011
Thanks for sharing! :-)
How long have you been using this system? How are ur results so far?
Also, if one of the pending orders isn't triggered on the day or next day that you set it, do you leave them until one is finally triggered after the Doji signal?
TIA and GL!
I also love the dojis. very effective reversal candlesticks.
Yes i leave it until one got trigggered, but if another doji form i will adjust it to new one. I have being used it for almost 3years.
3yrs... thats interesting... you have finally got something which works for you dear.. keep us updated with results...
Thanks for encouragement. I used it on USDCHF on 5/9/2011 and it reach my limit order like lightening you can check.
Thinks for your sharing. I am a beginner，just study.