Forex Factory (https://www.forexfactory.com/forum.php)
-   Trading Systems (https://www.forexfactory.com/forumdisplay.php?f=71)
-   -   Trading Made Simple(r) (https://www.forexfactory.com/showthread.php?t=917569)

Simply-Me Oct 2, 2019 6:06am | Post# 4181

{quote} Thanks, I guess i'll have to be a lot more patient! By the way, from what I have read so far we have to wait until candle closure before placing a trade? so you place trades every 4 hours? Cheers
Always wait for 4H candle close.Than you can place trade or go to smaller TF to cherry pick entry in case of some pullback. Personally, I scalp 1 and 5M between 4 HR candles,because I do only trading.Today 4 trades 89.70 pips on cable and footsie.

Simply-Me Oct 2, 2019 6:39am | Post# 4182

{quote} I'm not sure I agree with this. There are loads of signals on the H4, and you can always backtest using live charts if not, or you just want more signals to try. In my view all demo trading should mimic real money trading as closely as possible, which means that any system designed for longer timeframes should only be demo'd on longer timeframes. Just my thoughts anyway.
David,maybe you misunderstood me.I didn't say use system on lower TF.
I've said:
{quote} ............... Maybe I'd suggest to go to 30M or even 15M TM to learn. Candles are moving same way only faster and on real account smaller SL and capital is needed.
So one can learn,how candles are moving.Even if this system seems to be mechanical it good thing to apply some PA knowledge,and you can watch lower TF to learn it.

itsDavid Oct 2, 2019 6:46am | Post# 4183

I know that, I think you misunderstood me on this one I was saying that I don't think it's a good idea to learn on lower timeframes since I think training should be as close to real world conditions as possible.

Simply-Me Oct 2, 2019 6:51am | Post# 4184

3 Attachment(s)
I know that, I think you misunderstood me on this one I was saying that I don't think it's a good idea to learn on lower timeframes since I think training should be as close to real world conditions as possible.
ok David,now tell me what TF is each picture

Click to Enlarge

Name: 1Capture.JPG
Size: 44 KB

Click to Enlarge

Name: 2 Capture.JPG
Size: 39 KB

Click to Enlarge

Name: 5 Capture.JPG
Size: 38 KB

itsDavid Oct 2, 2019 6:55am | Post# 4185

In my opinion this isn't just reading charts, it's psychology and emotion. It's not just about what the charts look like, it's about learning good habits and control. Trading lower timeframes with a system designed for higher timeframes is a bad habit. Learning when to sit at your machine, what times are best to trade this particular strategy, what times not to trade, learning patience and selectiveness, these are good habits which you won't get from the lower timeframes.

Additionally, learning how the particular currency/currencies act in the specific timeframe you plan to trade it is also important. Being impatient and looking at lower timeframes simply for more 'learning opportunities', also takes this away.

There are loads of 4H signals, so why bother learning bad habits on the lower ones?

moRTaL Oct 2, 2019 7:32am | Post# 4186

2 Attachment(s)
{quote} {file} {file} {image} {image}

Hi guys, found TMA(repainting) MTF MT5 version, however only have the ex5 file... i didn't bother to look for mq5 file as it works fine.... just google its name, found it at another forum..

settings i used as per screenshot, just change the Time Frame from current to H1/H4/etc...

enjoy and have fun hope you guys as always making green pips

PS. Thanks again to the generous Mladen for making the indicator and it is free
Click to Enlarge

Name: Untitled.png
Size: 11 KB
TMA centered bands mtf.ex5

40PipsAlan Oct 2, 2019 11:29am | Post# 4187

Nice one. 3R up today trading the H1 chart. Lets hope we can build on it tomorrow.

Coffeebuff Oct 2, 2019 7:06pm | Post# 4188

In my opinion this isn't just reading charts, it's psychology and emotion. It's not just about what the charts look like, it's about learning good habits and control. Trading lower timeframes with a system designed for higher timeframes is a bad habit. Learning when to sit at your machine, what times are best to trade this particular strategy, what times not to trade, learning patience and selectiveness, these are good habits which you won't get from the lower timeframes. Additionally, learning how the particular currency/currencies act in the specific...
You put all that together so beautifully, personally having experienced more than one crash landing, I choose to look very closed at where daily, weekly and monthly are positioned, and will only play the smaller for entry and exits when I have screen time and that's generally around market openings and red news. my nine pence worth from down under.

Marcusv007 Oct 3, 2019 7:10am | Post# 4189

In my opinion this isn't just reading charts, it's psychology and emotion. It's not just about what the charts look like, it's about learning good habits and control. Trading lower timeframes with a system designed for higher timeframes is a bad habit. Learning when to sit at your machine, what times are best to trade this particular strategy, what times not to trade, learning patience and selectiveness, these are good habits which you won't get from the lower timeframes. Additionally, learning how the particular currency/currencies act in the specific...
Well put David, comments like these are what differentiates someone who hits their targets and/or makes a profit to one who doesn't. A deeper understanding beyond the RH method is a necessity, "tailor it to suit you". You have to be improving every single day, learning and knowing something more today than you did yesterday about the market or your plan. There is still so much to learn but every new thing one learns about the market conditions they are exposed to combats the probability factor and betters that risk to reward ratio. Improve every single day. Even just 1 chapter in a book.
#justmy5cents

monty20 Oct 3, 2019 11:28am | Post# 4190

I am new to all this but Iíve never used an EA yet while being away from my computer. So my question is if I turn on an EA before leaving for work and then shutdown my laptop will the EA continue to work or does mt4 have to be running? Also if it does have to be running are there any ways around this?

40PipsAlan Oct 3, 2019 11:33am | Post# 4191

I am new to all this but I’ve never used an EA yet while being away from my computer. So my question is if I turn on an EA before leaving for work and then shutdown my laptop will the EA continue to work or does mt4 have to be running? Also if it does have to be running are there any ways around this?
Yah it needs MT4 to be running. One option is a VPS service (not free) or you setup a small PC or laptop at home running MT4. I believe you can also do it with raspberry pi micro pc.

DrDave Oct 3, 2019 11:52am | Post# 4192

{quote} Yah it needs MT4 to be running. One option is a VPS service (not free) or you setup a small PC or laptop at home running MT4. I believe you can also do it with raspberry pi micro pc.
But if you do this, you must have reliable electrical service and a reliable Internet service provider. If either of them go down, your EA is down.

itsDavid Oct 3, 2019 3:27pm | Post# 4193

As mentioned above the best advice is to run an EA on a good commercial VPS, running it on your home PC or laptop is fine for testing, but it must always be on, connected to the internet, with MT4 running.

40PipsAlan Oct 4, 2019 6:05am | Post# 4194

1 Attachment(s)
In your dreams boys. Must be a feed issue on my demo account. Might need to try a different one.
Click to Enlarge

Name: Screenshot1.png
Size: 168 KB

40PipsAlan Oct 4, 2019 8:56am | Post# 4195

1 Attachment(s)
Trade report for this week. All trades closed. 3.65R up this week, thats 4 weeks in a row with a profit of some kind. DD is at 1.8%, don't know if that is good or bad.
No more trades today as I do not want to ruin it. have a good weekend guys and keep up with the studying.

Click to Enlarge

Name: Screenshot1.png
Size: 47 KB

MyProfit Oct 4, 2019 9:24am | Post# 4196

1 Attachment(s)
Advancing too.....
Click to Enlarge

Name: advancing9.png
Size: 21 KB

DrDave Oct 4, 2019 11:09am | Post# 4197

Advancing too..... {image}
You forgot to put the losing trades. Oh, wait, maybe you had ALL winners this week?

itsDavid Oct 4, 2019 12:28pm | Post# 4198

{quote} You forgot to put the losing trades. Oh, wait, maybe you had ALL winners this week?
Mine does not look like his at all. After a great start I had a terrible week losing around 7% of my account balance. It was a good week for learning though, and like the rest of life there will also be decent upswings. So no worries here

MyProfit Oct 4, 2019 12:28pm | Post# 4199

I don't have losing trades, I am still trading some of them... that graphic is for Closed trades..... I'm going to close the other 4 trades at the NY close today.

itsDavid Oct 4, 2019 12:30pm | Post# 4200

1 Attachment(s)
I mean, what a week. Sometimes you get the bear...

I didn't bother today. I know my own mind well enough to be aware of when I'm not in the right frame of mind
Click to Enlarge

Name: GoodGod.jpg
Size: 336 KB


© Forex Factory