Welcome to WatchMyZone trading system - WMZ system
Hello dear traders this is Anjan, My username is watchmyzone. I don’t know why I picked that name, it can mean anything.
Self Intro
Before I explain my strategy let me introduce myself.
I am from India, I am a business school graduate and I manage a construction and excavation company. For the last 3.5 years I have been studying markets. Trading is just a part-time job so I have adjusted my strategy to suit my lifestyle. Please contact me on this forum only.
Requirements for following my strategy
4Hr Time frame chart only
2 Moving averages
Basic understanding of price levels (support/resistance//supply/demand)
Basic understanding of price patterns (Wedge/Channel/Ascending/Descending/Flag/etc..)
What I look at My strategy
I have tried to simplify the strategy as much as possible. I don’t mark my charts with several lines. I don’t even mark anything on my chart. I have 2 moving averages on the chart to just give me confidence and provide entry points.
My chart looks like this:
{Insert chart}
**Always keep the chart locked to 4Hour time frame. I don’t need any other time frame ever. I don’t look for confluence based on lower time frame. Just look at the 4Hour time frame!!!
**Moving averages or 3 period and 6 period for crossovers. This is technically no reason for this setting. The main reason I decided to go for those numbers is because I needed to see the average price in the last trading day.
**Keep a small idea of key price levels and price patterns. Also keep in my mind I don’t mark them on my chart. I do have 1 or 2 lines often but the pattern and key levels are not my main style. The reason being that it will add too many unwanted complications. It becomes difficult to draw lines and make decisions based on these horizontal levels.
That’s basically what I look at My strategy.
Entry and Exit
First look for the type of market we are in : [SENTIMENT]
Bullish
Bearish
Ranging
Then based on the sentiment look for : [ENTRY]
Look for a crossover of MA then enter trades.
Manage trades : [MANAGEMENT]
Check the chart before every new 4Hour candle opens. Move stops when a new Higher low [BUY TRADE] or Lower high[SELL TRADE] is formed.
I keep my stops a few pips below the recent High or Low.
Exits : [EXIT]
Exit whenever the stops are taken out. This means the market structure has changed.
Additional notes:
So that’s the strategy. Everything happens with a 4Hour time frame chart. I don’t spend time marking price levels or zones/patterns. It should be understood with just a glance.
I trade almost every pair, expect a few which have very choppy moves.
Why post my strategy online
I wanted to post and document my trading journey from now on. So I have started a thread. I hope to also get disciplined by involving with the community. I have just started forward testing the strategy with a small account.
My typical day :
I have alarms set 15 mins before every new 4h candle open. I open my laptop or ipad if I am at work and then check for new entries [Crossovers] and also look for new [management] Stops to be moved etc … So I am trading for only 90 minutes a day. (6 sessions of 15 mins each)
Please forgive me for calling this as my own system. I know it is not and everything I do is pretty much basics and simple. This simplicity is what I wish to encourage.
I will update this first post with better explanations. Also follow my next few posts for clarity.
Cheers from WMZ
Hello dear traders this is Anjan, My username is watchmyzone. I don’t know why I picked that name, it can mean anything.
Self Intro
Before I explain my strategy let me introduce myself.
I am from India, I am a business school graduate and I manage a construction and excavation company. For the last 3.5 years I have been studying markets. Trading is just a part-time job so I have adjusted my strategy to suit my lifestyle. Please contact me on this forum only.
Requirements for following my strategy
4Hr Time frame chart only
2 Moving averages
Basic understanding of price levels (support/resistance//supply/demand)
Basic understanding of price patterns (Wedge/Channel/Ascending/Descending/Flag/etc..)
What I look at My strategy
I have tried to simplify the strategy as much as possible. I don’t mark my charts with several lines. I don’t even mark anything on my chart. I have 2 moving averages on the chart to just give me confidence and provide entry points.
My chart looks like this:
{Insert chart}
**Always keep the chart locked to 4Hour time frame. I don’t need any other time frame ever. I don’t look for confluence based on lower time frame. Just look at the 4Hour time frame!!!
**Moving averages or 3 period and 6 period for crossovers. This is technically no reason for this setting. The main reason I decided to go for those numbers is because I needed to see the average price in the last trading day.
**Keep a small idea of key price levels and price patterns. Also keep in my mind I don’t mark them on my chart. I do have 1 or 2 lines often but the pattern and key levels are not my main style. The reason being that it will add too many unwanted complications. It becomes difficult to draw lines and make decisions based on these horizontal levels.
That’s basically what I look at My strategy.
Entry and Exit
First look for the type of market we are in : [SENTIMENT]
Bullish
Bearish
Ranging
Then based on the sentiment look for : [ENTRY]
Look for a crossover of MA then enter trades.
Manage trades : [MANAGEMENT]
Check the chart before every new 4Hour candle opens. Move stops when a new Higher low [BUY TRADE] or Lower high[SELL TRADE] is formed.
I keep my stops a few pips below the recent High or Low.
Exits : [EXIT]
Exit whenever the stops are taken out. This means the market structure has changed.
Additional notes:
So that’s the strategy. Everything happens with a 4Hour time frame chart. I don’t spend time marking price levels or zones/patterns. It should be understood with just a glance.
I trade almost every pair, expect a few which have very choppy moves.
Why post my strategy online
I wanted to post and document my trading journey from now on. So I have started a thread. I hope to also get disciplined by involving with the community. I have just started forward testing the strategy with a small account.
My typical day :
I have alarms set 15 mins before every new 4h candle open. I open my laptop or ipad if I am at work and then check for new entries [Crossovers] and also look for new [management] Stops to be moved etc … So I am trading for only 90 minutes a day. (6 sessions of 15 mins each)
Please forgive me for calling this as my own system. I know it is not and everything I do is pretty much basics and simple. This simplicity is what I wish to encourage.
I will update this first post with better explanations. Also follow my next few posts for clarity.
Cheers from WMZ
