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Booker66 4hr strategy

  • Post# 1
  • Quote
  • First Post: May 9, 2010 12:28pm | Edited Feb 1, 2013 9:33am
hello.... id like to share this basic ma crossover strategy which i use for trading mainly the 4hr charts.
the strategy can be traded on a partime basis ...all you need to do is check the charts every 4hours and is based on trading a repeating pattern that occurs in the charts ..



ive been picking off this pattern for a while now and its been pretty good so far , not 100 % obviously . but with a risk /reward ratio of about 1/3 most of the time .. cant be bad .
heres some examples ..

be gentle !!


i dont think you can consistently be a winning trader if your banking on being right more than 50% of the time...you have to figure out how to make money being right only 20-30% of the time...........Bill Lipschutz.
.
have been bullied off the computer by a 4 yr old ..... will post some charts asap .....
ill put charts up of past trading opps( as examples ) and potential trades as they crop up ... entry point / profit target and risk ...and result of course ... live by the sword ... die by the sword

will explain strategy as we go on if any interest ...
trades i got on ...gbp/usd short .
entry 1.5269..
risk....1.5323 ( 53pips )
profit target ..1.5124 (145 pips ) ... move stop to break even at 76% retrace at 1.5188..

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd4hr.gif Size: 37 KB
nice result ...hit profit target ... wish i had the bottle to hold the trade ..

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd2.gif Size: 37 KB
Looks interesting, Booker.
What is your strategy?
Thanks
Send that four year old to his/her room, and post the charts!
Quoting Dreamliner
Send that four year old to his/her room, and post the charts!
hes in the bath !!
the moving averages are...
20ema
5 ema ( optional .. but looks nice when they cross !)
parabolic sar .. settings 0.01/ 0.1/ 0.094..

idea..
buy when candle crosses up through 20 ema ...and 20 ema turning upwards .. nice if you get 5ema crossing up through the 20 aswell ..
parabolic sar to confirm move also (example on chart below )

entry ..
i like to wait for a pullback to the nearest support / resistance area or to a 50% retracement of the candle crossing above the 20 ema..as long as the entry is above ....or level with the 20 ema ( not below ).

sell ..when candle crosses down through 20 ema .. with 20ema turning down.. 5 ema cross down / parabolic sar to confirm .
entry .. pullback to s/r or 50% retrace of candle .. like it if those two levels are close together ! (but not above the 20 ema )..

example below ..



.
heres some recent trades .. with potential pips profit .. obvously didnt max out those pips but took a fair share ...

Attached Image (click to enlarge)
Click to Enlarge Name: usdchf3.gif Size: 52 KB
same chart as above with result of last trade ( got out well before the top level) .... nice with the trend trades .. this pattern repeats itself a lot .. you dont win them all and dont always get a pullback so miss potential moves but the risk /reward is consistant and suits my part -time trading style as you can set the entry point and let the trade come to you ...

will put more info about managing the trade later if anyone interested .cheers...


Attached Image (click to enlarge)
Click to Enlarge Name: usdchf2.gif Size: 38 KB
I like your colored EMAs. Could you post the indicator? I had em long time ago but inadvertantly deleted them. Thanx in advance.
Quoting Flamenco143
I like your colored EMAs. Could you post the indicator? I had em long time ago but inadvertantly deleted them. Thanx in advance.
hi flamenco ... cant help you with that ..the ema colours were just an option on the software i use , not an uploaded indicator .
Please continue with how you manage these trades.
  • Post# 14
  • Quote
  • May 9, 2010 8:43pm | Edited May 10, 2010 12:08am
Here is an ma that you can customize.
Attached Files
File Type: mq4 FXprime-V2-Final.mq4   10 KB | 281 downloads
File Type: ex4 FXprime-V2-Final.ex4   11 KB | 240 downloads
Dave If you can't swim with the sharks... Stay out of the water!
  • cjd
    Joined May 2008
here ya go
Attached File
File Type: mq4 MA_in_Color.mq4   4 KB | 304 downloads
Are you setting limit orders for entries?

Would a touch on 5 EMA or 20 EMA be considered for entry?

Thanks
Anyone have a parabolic SAR for MT4 with the third parameter variable. The 2 that I have only allow me to change the first 2, not the .094
Quoting booker66
same chart as above with result of last trade ( got out well before the top level) .... nice with the trend trades .. this pattern repeats itself a lot .. you dont win them all and dont always get a pullback so miss potential moves but the risk /reward is consistant and suits my part -time trading style as you can set the entry point and let the trade come to you ...

will put more info about managing the trade later if anyone interested .cheers...


Attachment 471863
Hi,

Very interested in this method. I was wondering what would happen during periods like 16th March to 24th (approx) or 26th to 30th March or 4th to 6th March or 1st to 2nd March etc.

Do you move stops to breakeven quickly to avoid losses in such cases, or are they filtered somehow.

Kind regards,
Quoting chazbo 3071
Are you setting limit orders for entries?

Would a touch on 5 EMA or 20 EMA be considered for entry?

Thanks
hello chazbo ..

yes i guess there limit orders .. at my spreadbet firm they dont call them that , its just an order ....above or below .

i think a lot of people trade off pullbacks to emas ... but i personally prefer a pullback to s/r areas as its a more solid level where price has reacted before ... i like the 50% retracement of the candle aswell... if they all coincide then great .

in the end if its going to be pullback ..its going to find somewhere to pullback to ... im just finding areas where theres a chance it might stop and reverse whilst keeping the risk as low as possible ....
Quoting booker66
hello chazbo ..

yes i guess there limit orders .. at my spreadbet firm they dont call them that , its just an order ....above or below .

i think a lot of people trade off pullbacks to emas ... but i personally prefer a pullback to s/r areas as its a more solid level where price has reacted before ... i like the 50% retracement of the candle aswell... if they all coincide then great .

[b]in the end if its going to be pullback ..its going to find somewhere to pullback to ... im just finding areas where theres a chance it might...
Thanks for your response, Booker.

When using 50% candle retracement, are you using the overall length of candle (wick to wick) or just the body of the candle?

Also, if the next candle does not trigger your entry order, do you remove the order or do you allow subsequent candles to trigger order?

I trade the H4 charts and am very interested in learning to enter on pullbacks to improve RRR.

Thanks
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