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hzs10 Oct 5, 2018 12:38am | Post# 1

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

***Background***
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.


**********UPDATES***********

Sep 18: +26%
Oct 18: +15%
Nov 18: -3% [TP at 150]
Dec 18: +11%
Jan 19: +14.7%

hzs10 Oct 5, 2018 12:41am | Post# 2

Rules
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

Notes:
- 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.

Tyvm

hzs10 Oct 5, 2018 12:43am | Post# 3

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My results since 7th Sep 2018
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hzs10 Oct 5, 2018 12:47am | Post# 4

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Possible short trade for next open H4 bar

Draw fibo from high to low of the current bar to determine SL and TP.

SL at 0 and TP at 200. Shift SL to 100 when hit 150
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jojofx Oct 5, 2018 4:45am | Post# 5

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!

hzs10 Oct 5, 2018 11:50am | Post# 6

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PrinceJ58 Oct 5, 2018 12:19pm | Post# 7

Possible short trade for next open H4 bar Draw fibo from high to low of the current bar to determine SL and TP. SL at 0 and TP at 200. Shift SL to 100 when hit 150 {image} {image}
Which bar is the current bar?

  1. The ENGULFING bar
  2. The close of the bar after the ENGULFING bar?

WHAT ARE THE PREFFERED TIMEFRAMES USED TO TRADE? JUST H4?

AN ALERT IS BEST FOR THIS SYSTEM TO WORK, YOU NEED AN INDICATOR TO SEND ALERTS as push NOTIFICATIONS TO YOUR PHONE ONCE ALL CONDITIONS ARE MET. This push notification would also state the tp zones 1, 2 etc.

CODERS INTEREST -STATE THE RULES PROPERLY SO THAT WHOEVER IS INTERESTED IN CODING AN INDICATOR OR E.A. HAS THE RELEVANT INFORMATION.

(Personally) I would prefer to close a part of the trade at the different take profit or r:r zones since you incorporated fibonacci as a money management tool and let the rest be trailed. These same candle pattern trades can last for long runs at times and maybe able to cover for any losses that may come along the way, especially as a free trade at that point.

Risk to reward (R:R) is needed for the strategy as it regards to the longevity of the method. R:R would state how many wins would be required to stay in the market. Without r:r there is no confidence when losing streaks come along. Since I'm sure not all setups will win.
Winrate and risk to reward goes hand in hand.

Any additional RULES that might have been overlooked? This would cover thing's like when you would not take a trade.

  1. Do you trade around news expectations?
  2. Is there any provision for retracement entries like 50% of the ENGULFING bar?
  3. WHAT of it forms through the moving average line?
  4. What have you not mentioned yet, don't wait until too far to state these things.

Keep up the good work! Candle patterns can be very rewarding once done in a systematic way.
N.B. State your rules properly so they are not misinterpreted.


PrinceJ58 Oct 5, 2018 12:33pm | Post# 8

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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.
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Yamazaki Oct 5, 2018 12:45pm | Post# 9

I use bollinger bands with finonacci on D1 and W1, very good result. No stress.

hzs10 Oct 5, 2018 12:49pm | Post# 10

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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.
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PrinceJ58 Oct 5, 2018 12:52pm | Post# 11

I use bollinger bands with finonacci on D1 and W1, very good result. No stress.
Posting a picture may help significantly...

  1. Is the Bollinger band the default settings?
  2. Does the ENGULFING bar touch the Bollinger band?

The use of daily and weekly makes it more potent.☺


hzs10 Oct 5, 2018 12:53pm | Post# 12

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ForexNL Oct 5, 2018 1:08pm | Post# 13

Very interesting! I'm going to follow this thread and try the strategy. Thank u and a nice weekend!

Yamazaki Oct 5, 2018 1:17pm | Post# 14

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{quote} Posting a picture may help significantly... Is the Bollinger band the default settings? Does the ENGULFING bar touch the Bollinger band? The use of daily and weekly makes it more potent.☺
Yes, BB default setting. The picture is running currently trade. My strategy is for long term trading. I will give it a try strategy from hsz10. Maybe can combine the system and make it perfect. Take profit will be 50% or 61.80%. Some trade can even go more than 100% and above. need to check with weekly timeframe
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PrinceJ58 Oct 5, 2018 4:27pm | Post# 15

{quote} Yes, BB default setting. The picture is running currently trade. My strategy is for long term trading. I will give it a try strategy from hsz10. Maybe can combine the system and make it perfect. Take profit will be 50% or 61.80%. Some trade can even go more than 100% and above. need to check with weekly timeframe {image} {image} {image} {image}
She plots her fibs on the ENGULFING bar though, that's a difference I see so far.
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.

FX_California Oct 5, 2018 6:54pm | Post# 16

Rules 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 Notes: - 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....
Just curious. Which mobile trading platform you are using? Easy, clean and looking great (system). Want to try.

Thanks,

FX_California

hzs10 Oct 6, 2018 3:23am | Post# 17

{quote} Just curious. Which mobile trading platform you are using? Easy, clean and looking great (system). Want to try. Thanks, FX_California
MT4

kirinda Oct 6, 2018 4:46am | Post# 18

{quote} She plots her fibs on the ENGULFING bar though, that's a difference I see so far. 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...
I did go through the images of the entries and I can see that she define the engulfing pattern to be that the entry candle high/low engulf the high/low of previous bar. She doesn't care so much about the color to the body. So what she call engulfing bar is what we usually call outside bar. Engulfing bar is usually defined such that the body of (open/close) entry bar engulf the body (open/ close) of previous bar.

About the strategy: It looks nice but it's to short time to know that it will work in the long run.

okshop Oct 6, 2018 6:33am | Post# 19

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Interesting, will test it out tq
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swesson Oct 6, 2018 8:22am | Post# 20

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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