Simple H4 Mobile Trading System
I started a thread in Journal Forum to share about this strategy as I am still testing. The results are promising so I decided to share here.
Do note I only started it for 1 month and the results not enough to conclude anything. Some have tried and so positive results too. Visit here to rea din details: https://www.forexfactory.com/showthr...7#post11550457
Too many trader focus on reward to risk (RR). However that is their hypothesis if the price action (PA) reach to the level they want. However, often then not the PA do not reach to the level they want and hit SL
I asked myself how to become a consistent profitable trader? So i concluded that the win to loss ratio is more important. Definitely money management is the basis.
All you need for this strategy is your phone. I only trade on all USD, EUR, GBP and JPY pairs
I spent abt 10k learning forex last year June from someone once i reckon as “mentor” whereby later i know i can get the same knowledge for free on babypips.
Lost another 10k using what he taught me and strategy hopping on FF. He has decades of Fx trading experience and within the same year he lost 40k out of 50k of my mum’s fund. That shows he is just some incapable trader(scammer).
However, I’m not someone who give up easily. So based of these lesson learnt and my knowledge, i came out with this. No point blaming others and be a cry baby. The money wont be back.
Not completely my strategy but I hope it does work so i can repay my mum’s fund. If you interested feel free to try, if it doesnt suit your style, you can skip the thread. No one will force you to try, so dont type unnessary comment.
Sep 18: +26%
Oct 18: +15%
Nov 18: -3% [TP at 150]
Dec 18: +11%
Jan 19: +14.7%
1. Add EMA 30 to chart
2. Follow the trend
3. Long at next open bar when Bullish Engulf bar is formed above EMA30, and short at next open bar when Bearish Enguld bar is formed below EMA 30.
4. Use Finbonacci to determine SL and TP
- I dont need people to tell me what to do. I am not a new trader, I know what I am doing.
- Please read title and simple rules clearly. If not ask politely.
- This strategy is meant to show trading is possible using JUST phone and still profitable.
- I dont need people to develop EA or indicators for me. You want to do for your own purpose feel free to do so.
- If u cant understand pictures better than words, I have nothing more to say.
- If you want to make things complicated (improvised the strategy), please create your own new threads
- I like to keep things real simple
- Feel free to post graph, ask question and share your results
***Test at your own risk***
This strategy is still at testing period as I have only started for the first month. I will use purely only this strategy to trade for a year and see how it goes. As a result looks promising, that is why I start this thread so those who are interested. Period.
I know there are a lot more experienced traders out there. But please be humble and stay open-minded.
This looks like a very efficient strategy, after all, Engulfing candles always proved to work good in determined situation.
If i can give you an advice, i'll suggest you to set multiple targets (at least 2 targets total): 1st target at 200% and then you let your order run to the 2nd target (maybe till it reaches a major supply/demand level or till it reaches an opposite engulfing candle). This way you will be able to maximize your profits even more!
WHAT ARE THE PREFFERED TIMEFRAMES USED TO TRADE? JUST H4?
Keep up the good work! Candle patterns can be very rewarding once done in a systematic way.
I don't know probably someone can look at this e.a. and modify it or use a piece of the code. These pictures identify a bullish and bearish ENGULFING bar to help coders to code your method.
The e.a. I believe uses candle size as a criteria.
I use bollinger bands with finonacci on D1 and W1, very good result. No stress.
Another trade closed at TP. I know some conservative traders prefer to set stop order at the high and low after the bar is closed. You can still do so if it suits you.
However, I prefer to open trade at the next open bar as I am using phone to trade, it will be v messy if i open a lot of stop order and confuse myself.
You can test it H4 and higher timeframes, whichever suits your style. I dont do it on Daily TF because open bar for me is 5am and I have tried before, I am still in sleep mode even if i set alarm (ofteni just turn off my alarm and sleep). I prefer my sleep ya. So after testing many TF, H4 works for me.
The use of daily and weekly makes it more potent.☺
Very interesting! I'm going to follow this thread and try the strategy. Thank u and a nice weekend!
Now the challenge for me is that based on what I read in the journal it seem as though the ENGULFING bar can be the same colour as well , things got interesting right there for me. I would do opposite colours only. Like if I am taking a sell the previous bar that is being engulf would have to be bullish and the ENGULFING bar is bearish. That would be my main rule apart from the obvious ema 30. The Bollinger band could show exhaustion?
I prefer e.a.'s they make no mistakes and have no discretion when making decisions it is the fixed rules that apply for entry, trade modifications and exits no discretionary factors.
About the strategy: It looks nice but it's to short time to know that it will work in the long run.
Interesting, will test it out tq
Okshop interesting idea, can you give values for Fibonacci you use? Sure I can to calculate to reverse engineering, but maybe it will be not so difficult for you? It seems they are -0.25 0 0.5 1 1.5 2 3 4 5 and 6, right?
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