[GET] ChinEtti Pip Collector (90% win Ratio)

[jackpinion]

(04-13-2021 11:55 AM)luckyguy91 Wrote:  Hi Jack, so what time frame that you having good results?
I also eagerly await your postings.

I trade on the Daily chart... Always on the Daily. I've tried the Hourly and 4 Hour Chart and while I certainly made money trading those charts, it was way too much like a job. Having said that?

I did break my teeth on both the Hourly and 4 Hour Charts.

And when I say too much like a job? I'm talking having to be glued to MT4 all throughout the day along with keeping track of your trades via phone when you can't be in front of a computer.

No thank you.

The only problem with the Daily Chart... At least in the beginning for me personally was the retracements... Whew. I was used to retracements on the Hourly and 4 Hour Charts and with those? Even trading one lot per trade? I was able to withstand the stress because I was so familiar with those two charts that I knew retracement simply an occupational hazard.

When I first started trading on the Daily Charts? What I didn't realize would happen until it did happen were that the retracements were much more enormous than on the Hourly and 4 Hour Charts.

To be honest? They scared the crap out of me... LOL. But once I realized that retracement is part of the way price action works... I slowly but surely got used to the larger PIP retracements by trading LESS than a lot per trade until I got used to the enormity of the larger time frame retracements.

Took me about 3 months to understand how large the retracements could be on the higher chart. Once I got comfortable with the huge swing of pips in the other direction? I went back to trading one lot per trade.

Eventually, I'll move up to the weekly... But I've measured those retracements and I assure you... I am NOT yet ready to see my trades go that far into the other direction... LOL.

It's all psychology. Psychology that you have to get over somehow.

jack

[luckyguy91]

Hi Jack,
Thank you very much for your postings.
Trading on the Daily Charts will have the retracements were much more enormous than on the H1 or H4. It is suitable with the large amount account than small account. Anyway, your strategy is very helpful with traders like me. Thank you again and waiting for your next post.

[persist]

(04-14-2021 03:37 AM)jackpinion Wrote:  

(04-13-2021 11:55 AM)luckyguy91 Wrote:  Hi Jack, so what time frame that you having good results?
I also eagerly await your postings.

I trade on the Daily chart... Always on the Daily. I've tried the Hourly and 4 Hour Chart and while I certainly made money trading those charts, it was way too much like a job. Having said that?

I did break my teeth on both the Hourly and 4 Hour Charts.

And when I say too much like a job? I'm talking having to be glued to MT4 all throughout the day along with keeping track of your trades via phone when you can't be in front of a computer.

No thank you.

The only problem with the Daily Chart... At least in the beginning for me personally was the retracements... Whew. I was used to retracements on the Hourly and 4 Hour Charts and with those? Even trading one lot per trade? I was able to withstand the stress because I was so familiar with those two charts that I knew retracement simply an occupational hazard.

When I first started trading on the Daily Charts? What I didn't realize would happen until it did happen were that the retracements were much more enormous than on the Hourly and 4 Hour Charts.

To be honest? They scared the crap out of me... LOL. But once I realized that retracement is part of the way price action works... I slowly but surely got used to the larger PIP retracements by trading LESS than a lot per trade until I got used to the enormity of the larger time frame retracements.

Took me about 3 months to understand how large the retracements could be on the higher chart. Once I got comfortable with the huge swing of pips in the other direction? I went back to trading one lot per trade.

Eventually, I'll move up to the weekly... But I've measured those retracements and I assure you... I am NOT yet ready to see my trades go that far into the other direction... LOL.

It's all psychology. Psychology that you have to get over somehow.

jack

thanks jack for all the help you have provided.

How do you monitor your charts to make sure you go in right away when the buy chinetti arrow shows up? do you have multiple charts open for all the 28 forex pairs? or do you only trade certain ones? can you share a little about your routine?

[The Jumper]

(04-15-2021 09:02 AM)persist Wrote:  thanks jack for all the help you have provided.

How do you monitor your charts to make sure you go in right away when the buy chinetti arrow shows up? do you have multiple charts open for all the 28 forex pairs? or do you only trade certain ones? can you share a little about your routine?

Yeah, this will be hugely helpful. Waiting too...

[jackpinion]

First to answer your question on how I monitor my charts... I'm a professional writer. Luckily, even during Covid, the coffee shop I write at every day allows me to come in and write as long as I'm wearing my mask.

Which of course, I do.

I always open my MT4 platform about an hour BEFORE the New York Session CLOSES. 1500 (3:00 P.M.) my time.

I have ALL my 28 Daily Charts OPEN.

I'm specifically looking for the new Heiken Ashi candle to print AFTER the New York Session CLOSES.

Now about the ChinEtti system/strategy. First of all? It does WORK however, I believe all the hype of its 90% Win Rate is just that... Hype. Why? Because a lot of THIS is just PSYCHOLOGY, plain and simple. In all the years I've been trading Forex, there's one thing I've learned and this is very interesting...

ALL THE SYSTEMS and STRATEGIES I've ever tried and even kept using?

WORK.

EVERY d*** ONE OF THEM. LOL.

Even a simple moving average cross will work IF you have the discipline to stick with it.

Having said that... The ChinEtti system/strategy does work but it doesn't work as well as the system/strategy that I've been using for years now but I always like to think that maybe there's something out there that does it better than the way I do it. LOL.

So with all the backtesting I did with ChinEtti? I found the following...

A moving average CROSS consisting of the 5 Linear Weighted Moving Average with "0" shift applied to the Close along with the 7 Linear Weighted Moving Average with a shift of "1" also applied to the Close.

In my particular case, I chose to make the 5 LWMA RED and the 7 LWMA LimeGreen.

Now to be fair... I tried a ton of other moving averages and some will get you out faster but NOT with the amount of pips the 5 and 7 LWMA Cross does.

So IF you're intent on using the ChinEtti system/strategy? Consider using the above cross to exit your trade with because if you use ChinEtti's own exit strategy, you're leaving money on the table.

So now you may be asking... If you're not using ChinEtti, then what are you using?

First off, let me explain WHY I tested the ChinEtti. I was intrigued by the 90% Win Rate hype, plain and simple. I'm always on the lookout for a system/strategy that works better than what I've come up with on my own.

But I have YET to find it... LOL.

Again... The ChinEtti works but it certainly AIN'T the Holy Grail.

Here's how I tested the ChinEtti system/strategy... I used it on a demo account for months. I won a LOT of trades with it but d*** if I didn't get out of many of those trades way too late. That's why I wanted a way to get out just a little faster and to get out? A moving average cross of some kind works. Once I felt comfortable with ChinEtti? I implemented it into an real trading account but NOT at trading full lots which is what I trade with my usual system/strategy.

Again... The ChinEtti won but again, I felt like I was leaving money on the table until I started using the 8 and 10 LWMA cross. I was doing better but even so? I felt like I could tighten it up even more which is why I backtested a shit ton of moving average crosses of all kinds.

So again... ChinEtti works but my own system works even better so I'll just keep on using it.

What is my system/strategy?

Very simple... When it comes to trading Forex? I want a Daily chart to be as minimalistic as possible. I found that YEARS ago.

Here it is...

Three Indicators.

1) Heiken Ashi candles WITH a Doji Spotter. I know what a Doji looks like but I personally like seeing it printed in Gold so it STICKS out at me. Always remember that a Heiken Ashi candle is in fact an indicator all on its own. If you don't know that much about Heiken Ashi candles? Here's a good little article that sums them up quite nicely:

Code:

https://www.thinkmarkets.com/en/learn-to-trade/indicators-and-patterns/general-patterns/heiken-ashi-candles-strategy/

I personally use DodgerBlue for my bullish candles... Magenta for my bearish candles... And of course, Gold for the Doji candles.

2) The second indicator I use is the Heiken Ashi Arrows with Alerts. This indicator actually pops up with a message and sound to tell me of a Heiken Ashi color change candle. You can easily configure it to send you emails and text messages too if you're so inclined.

3) My last indicator isn't even really an indicator at all... It just does what I had been using several other indicators to do before... It's the ChinEtti Market Info indicator. I was using a few other indicators to give me all the same info the ChinEtti Market Info indicator tells me all by itself... The current spread. Day's High. The Day's Low. When the current candle closes. It seems to take up less computer resources so I went head and made a template utilizing just these three indicators.

I used to use... And still have the template utilizing the MTF Alligator but I've now been using this minimalistic strategy/system for so long that I now completely TRUST the Heiken Ashi candles.

In fact? You can't get any simpler than this system... When a NEW ARROW points UPWARD? BUY. When a NEW ARROW points DOWNWARD? Sell. When a NEW ARROW points UPWARD and you're currently in a SELL TRADE? Exit. When a NEW ARROW points DOWNWARD and you're currently in a BUY TRADE? Exit.

It really doesn't get any simpler than that.

I've literally tested HUNDREDS of indicators... Maybe even thousands. I knew from very early on that I loved the Heiken Ashi candle for its SIMPLICITY. It's taken me several years to fully TRUST it but I do NOW and it's SO LIBERATING to be able to get rid of all that other CRAP/GARBAGE on my charts.

Simple is best in my humble opinion... Especially when you can TRUST what YOU'RE USING.

Here's an image of my simple, minimalistic template:

Look at the Alert Arrows... Now some may say, "Why do you need alerts when you can SEE the color change yourself?" Good question. For me? It's simply a matter of pulling me away from my writing. When I'm writing, I'm well into it and often don't even come up for air until I'm done with a scene or a chapter. So the popup messages and sound for the alert arrows pretty much force me to come up for AIR and check out the charts but only ONCE a day... When the new candle prints after the New York Session CLOSES.

If NOTHING changes? I close my MT4 platform and keep on writing... Open it up the very next day... About an hour before the New York Session CLOSES and again... Wait for the new Heiken Ashi candle to print on the chart. In other words? I'm just waiting for an ALERT UP or DOWN if I'm currently in a trade or NOT. If no alert? I stay in whatever trade I'm currently IN and do not enter any new trades.

Now trust me when I say... All 28 of my Daily Charts LOOK just like this one above. I just picked a random chart. Anyone can see there are a lot of PIPS between the ARROWS.

Let me measure some of them for you so you can see for yourself...

This is the strategy/system I NOW use after many years of testing all kinds of strategies, systems, and indicators. The hardest part of this system?

TRUST and DISCIPLINE. You have to be able to TRUST your CHART with whatever resources you've placed on it and then? You have to have the DISCIPLINE to STAY IN THE TRADE.

Do I lose trades?

Rarely. The only trades I have lost are those trades where a Doji popped up. Dojis are not strong candles but they do sometimes warn us of an UPCOMING color change. I've gotten into trades where the alert printed above or below a Doji candle and then price action got choppy or ranged... i.e., consolidation. But even in those cases? I had a stop loss so I never get hurt badly.

This is a good time to bring this up... Whenever I enter a trade? I immediately place a STOP LOSS and a TAKE PROFIT of at least 1.5 times my STOP LOSS. This just makes good sense i.e., that you're getting 1.5 times your investment.

Many times however, I move that TAKE PROFIT LINE UP or DOWN depending on the trade I'm currently in because the TREND is STRONG.

Strong Heiken Ashi candles are LONG with fairly short wicks. I know if, after I enter a trade with a Doji as the ALERT, and the next day a STRONG Heiken Ashi prints? I'm good.

As for my STOP LOSSES? It ain't magic by any means... I enter a trade and simply pull my stop loss line under the last BEARISH candle IF I'm in a BUY TRADE. Hover over that stop loss line and MT4 tells you how many PIPS it measures from your entry point. Multiply those pips by 1.5 and that is your TAKE PROFIT LINE.

In SELL TRADES, it's exactly the OPPOSITE.

I enter a trade and pull my stop loss line above the last BULLISH candle. Hover over that stop loss and again, MT4 tells you how many PIPS it measures from your entry point. Multiply those pips by 1.5 and that is your TAKE PROFIT LINE.

What if the TREND is STRONG?

If the trend is strong, I keep moving both my stop loss and take profit lines UP or DOWN depending on what kind of trade I'm in. Remember... I'm WAITING for the Heiken Ashi Color Change Alert Arrow to PRINT and SOUND OFF. Sure, my INITIAL investment is 1.5 times my stop loss but most of the time, I move both the stop loss and take profit lines further and further until the new Heiken Ashi Color Change Alert Arrow PRINTS and SOUNDS OFF.

The beautiful part of these trades is when you move your stop loss lines to BREAK EVEN or beyond... At break even? No matter what happens? You BREAK EVEN at the very least. If you move your stop loss beyond break even? Even better! You'll always be in PROFIT.

How do I move my stop loss line during the trend? Again... Very simple. After a new day's candle PRINTS after the New York Session CLOSES for the day? I move the stop loss up or down to the next candle after my initial stop loss. I repeat that day after day. On strong trends? I eventually hit a break even stop loss and then an IN PROFIT stop loss.

That's really all there is to it...

And since I'm anticipating some of you wanting to try this? I'll include the indicators and the template but just do me and yourself ONE HUGE MASSIVE FAVOR... Trade this on a DEMO ACCOUNT for at least 90 DAYS before you trade with real money. Then? If you like it and want to trade real money with it? Trade MICRO LOTS for another 90 DAYS before trading with higher amounts.

That's a WHOLE SIX MONTHS of trading this system/strategy and at the end of six months? You'll be as trusting of it as I am without a huge investment. *NOTE: This is the MINIMUM AMOUNT OF TIME you should trade in a demo account and micro lots. MINIMUM.

LONGER is BETTER for some people to really get the hang of it.

So while I realize I went OFF the subject of the ChinEtti strategy/system here... I figured I'd share the strategy/system I currently use for those of you that I anticipated that the question would arise.

If you're stuck on using the ChinEtti strategy/system? No problem. IT WORKS. But do yourself a favor and trade it with a demo account for a minimum of 90 days before using real money.

Inside this .rar file are the indicators and template:

Code:

https://www89.zippyshare.com/v/RodGfjVB/file.html

*EDIT: I just reread my post and realized I should probably add a few other things to this...

1) Yes, I do trade against the OVERALL TREND... SOMETIMES. Let's say we're in an upward trend and I get a Heiken Ashi Color Change Alert. If I see that it's a retracement? Sure, I'll go ahead and jump into that retracement going DOWN. Why? Heiken Ashi Candles, plain and simple. I trust them completely NOW. Do I suggest YOU do the same? Not with real money. Eventually with real money? Sure. It's called CONTRARIAN TRADING. But don't do this until you completely trust the strategy/system. I can also tell you this... Some of you are going to try this with a demo account and FAIL. Why? Because it's simply TOO SIMPLE. LOL. You'll get impatient and jump OUT of the trade. We've all done it. It happens. That's why you trade with a DEMO ACCOUNT for at least 90 DAYS... Longer for some of you. For most if not all of you, it will be BETTER to first look at your chart and determine if price action is trending UP or DOWN. If trending UPWARD? Then trade the trend and NOT the retracement. If trending DOWNWARD? Trade the trend and NOT the retracement. Trading retracements is not for the squeamish. Learn to trade competently with Heiken Ashi Candles before attempting to trade with the retracements and then? Only trade with retracements on a DEMO account until you're ready to trade them with real money.

Code:

https://www.tradingsetupsreview.com/find-pullback-trade-zones-heiken-ashi-candlesticks/

2) I do NOT trade RANGING price action. When price is going sideways? I won't be in that trade. Look for Dojis when it comes to ranging or consolidation. There's usually more than one of them getting printed day after day.

3) Look for STRONG Heiken Ashi Candles. Read about Heiken Ashi Candles online. Read more than one article about them. Get to know how they do what they do so you feel confident in them. Short Heiken Ashi Candles are candles I normally stay away from because they tell me the trend in that direction isn't going to last very long. I want trends that are going to last. I want retracements that are going to last. Remember this... The LONGER the Heiken Ashi Candle? THE BETTER.

4) How do you tell a STRONG Heiken Ashi Candle from a WEAK one? Just compare the longer candles to the shorter ones on your charts. It won't take you long to see what a STRONG Heiken Ashi Candle looks like on whatever currency chart you're trading and remember... Many Heiken Ashi Candles will have different lengths when it comes to strength on different currencies. Always compare candles on only that specific currency chart you're considering entering into a trade with.

5) If you're CONSERVATIVE? You can modify the above by entering your buy or sell trade on the SECOND Heiken Ashi Candle. In fact? That's exactly how I first began trading them since at the time, I didn't think I could trust the Doji that appeared most of the time. I'd wait for any Dojis to fully close... Then wait yet another day for the next candle to close before entering the trade. So? If I was contemplating an upward trend buy entry trade and there was a Doji printed, I would WAIT for the next day's candle to close. On an upward trend, if I saw a DodgerBlue STRONG bullish Heiken Ashi Candle close as the next candle AFTER the Doji? I would enter the trade. On a sell trade, I would do the exact OPPOSITE and enter the trade only after the Doji closed and a STRONG bearish Heiken Ashi Candle closed at the end of the New York Session. This might be an easier way for some of you to begin trading Heiken Ashi candles until you feel as comfortable with them as I do now.

6) Last but not least... When to jump into a trade? I try to NEVER jump into the MIDDLE of a trend. Sometimes it's difficult but that's where the DISCIPLINE comes in. This strategy/system works best (at least for ME) when I can jump into a NEW trade as soon as a NEW COLOR CHANGE HEIKEN ASHI ARROW ALERT message pops up, sounds off, and is PRINTED on the chart. Since there are 28 fairly stable currencies to trade with, it seems like there are always new alerts happening every few days. Better to WAIT and jump into a trade at the BEGINNING of a TREND rather than jumping into the middle and having it not keep moving in the same direction.

Other good articles on Heiken Ashi Candles...

Code:

https://www.theforexguy.com/guide-to-heikin-ashi-candles/
https://medium.com/@priceinaction/how-to-trade-with-heiken-ashi-candles-f5e059b233ab
https://tradingwithtrend.com/heiken-ashi-strategy

Good YouTube videos about Heiken Ashi Candles...

Code:

https://www.youtube.com/watch?v=Yjy8U3NP0fM
https://www.youtube.com/watch?v=Iuw2L-vYTfc

Enjoy!
jack

[sharpchopstick]

Lots of information to digest. Thanks everyone for sharing

Max reps to OP and Jack. :)

[J_128]

Thanks you very much @jackpinion

rep ++++

Great information ;)

[The Jumper]

Phew! Finished reading it...I'm going to read this the second and third time until it's absorbed. Thanks much, bruh...

[v555]

@jackpinion :

Thanks a lot for your tips; Much appreciated !

[xowii]

Jack!!! Thanks a lot for your tips; Much appreciated !