DislikedThanks for your posts Alfonso. I have removed the H1 TF from my bars, and only have H4/D1/WK/MN. For 15% return per month, I only need 3 trade of 1:5 RR per month, which should be easy If I only take clear H4/D1 setups. Perhaps I can even achieve higher returns, but I will not push it. I will just follow the rules and let it happen. And I will only look at the charts 3 hours a day and then set my limit orders. Then I will exit MT4. I really do believe my issue is wanting to overtrade, and therefore taking suboptimal setups, and giving profits...Ignored
The H4 is chosen because in order to have a valid SD level you need at least 2 major market sessions, since a level needs at least 2 legs and 1 base candle, and at least 1 more candle of departure and a couple or more for the arrival. So you analyze the markets during the London session and your analysis will be valid till next day or even the whole week if we are at higher timeframe opposing areas. That does not happen on lower timeframes, since new levels are formed much quicker.
Hope it all makes sense Samir!
Alfonso
Alfonso
Set and Forget supply and demand trading community