Simple Horizontal Line Trading H1 87 replies
DislikedKiwi trade setup, and pending order placed and will wait for the market to decide.Ignored
DislikedAnybody still trading this method as it is actually a great system as I trade something similar, and if any of you guys are still around let's give this thread another boost and help each other.
DislikedTrade closed for 13.7 pip loss.
The flat ADX did signify that there was no momentum at the moment, and I will try again during the London & U.S. sessions
DislikedYes let's get it going, I just bought a book called "$1000 to 1 Million in 80 days"
Maybe if we can get this thread resurrected or start a new one we can combine both and put together a trade log at the same time.
So with the book, obviously to achieve this kind of money in that period, it's all about compounding.Ignored
DislikedI think we are to take the lower time frames such as the 1 hour we have to think about locking in our trade as soon as possible, this system can whip around a bit sometimes.Ignored
DislikedI agree with you and should have taken the little profit when I noticed the ADX hanging down, and the currency strength meter showing exchange of power between the NZD & USD.
Anyway, I am just waking up and looking over my charts to see what is cooking. The dashboard shows few pairs in the vicinity of the balance line; and will take a look.Ignored
DislikedYeah have had one loss tonight on the EUR... Which I might ad is not from the system, so I am only sticking to the system now.
Still in a USDJPY trade... Short from 81.090. This is from a cross on the blue on a 4hr chart... I am only speaking out a loud at the moment but I would like to slow things down a bit and trade only the 4hr time frame, what do you think?Ignored
DislikedThere is no perfect system, so loss is to be expected and I will stick with the H1 TF and of course if you get a signal on the H4 TF, it probably will reflect on the H1 too.
I will trade this system in conjunction with currency strength & weakness and right now, I can't find any currency with any serious edge over the other. So I will wait until after the FOMC statement and rate announcement.
DislikedGood stuff. I sometimes enter trades based on this system. Glad to see people are still using it.Ignored
DislikedI'm trying to incorporate more the Bill Williams side of trading which this actually comes from.. my USDJPY trade last night was a loss... moving on.Ignored
DislikedI am trying a filter method I will share if success in trading this method, and it is using the currency strength meter (CSM) for entry confirmation by trading only strong against weak currencies. When price gets to the BL, I will only take the trade if I get a CSM confirmation, otherwise I will pass. If you don't have a CSM, there are many free copies online and you can search and download from FF too.
Let's also create an active community here and share trade ideas as this way we can avoid premature entries and/or get second opinion. A Skype...Ignored
DislikedOk, not a bad idea George, we will se how things go between us for the moment befire we expand into it.... I do have SKYPE already and it is good for this kind of use, esspecially when you can share screen for indications and teaching..Ignored