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H4 Mobile Trading Simple Strategy

  • #1
  • First Post: Edited Oct 3, 2018 1:28pm Sep 20, 2018 11:15pm | Edited Oct 3, 2018 1:28pm
1. Add EMA 30
2. Follow the trend
3. Look for engulf pattern. The high/low of the current bar need to cover the high/low of previous bar.
4. Enter at the next open bar.
5. Long when PA above EMA 30, and short when PA below EMa 30
6. Use Fibo to determine SL and TP

Many talks abt RR. But if the price the hit ur target and go against you what is the point. I only see profitability. The ratio of win to lose. That determine whether a trader is a consistent profitable trader. As long as i profit i dont care how much as long SL and TP is acceptable to me. I will show more graphic examples of my past trades but not pick any as i like. There are win trades and loss trades but win tradea out-win. That is what matters.
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  • #2
  • Sep 20, 2018 11:24pm Sep 20, 2018 11:24pm
Below is NJ and CJ hitting my TP. I will show how these 2 trades took place and how to set SL AND TP. All using only my phone.



When you placing a long trade, drag fibo from high to low of the previous bar.

When you placing short trade, drag fibo from low to high of previous bar. 0.0 is the SL and 200 is the TP. When hit 150 i will shift SL to 100 to prevent market against me. When close above 150 i will shift SL to 150.
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  • #3
  • Sep 20, 2018 11:28pm Sep 20, 2018 11:28pm
Currently I have one UC that I took ytd. I have shifted SL to 100.00. If go against me I stop out w little profit. I am currently working at a retail as sale assistant. When no customers, i have ample time to look through my phone. Even if i miss my entry time i will still look through the pairs is it move up or down too much i will skip. If there is a pullback then i will enter even the open time has passed.
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  • #4
  • Sep 21, 2018 2:18am Sep 21, 2018 2:18am
GA hit SL, US hit TP. Still got 3 trades gg on
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  • #5
  • Sep 21, 2018 3:16am Sep 21, 2018 3:16am
Very cool and simple system. Just a glance reveals many opportunities. I would also add that they be taken in the direction of the current trend. Many thanks for sharing your knowledge.
Fred
  • #6
  • Sep 22, 2018 8:25am Sep 22, 2018 8:25am
Interesting & pretty simple approach. Good luck. Would love to see a Live TE attached so trading performance can be seen. keep posting live trade calls. Subscribed & will be watching.

Regards.
How big can you think!
  • #7
  • Sep 22, 2018 9:14am Sep 22, 2018 9:14am
Quoting Aar
Interesting & pretty simple approach. Good luck. Would love to see a Live TE attached so trading performance can be seen. keep posting live trade calls. Subscribed & will be watching. Regards.
What is TE? I will post whenever I am free. As I am workibg full time. Hopeful this strategy will work long term and profitable.
  • #8
  • Sep 22, 2018 10:35am Sep 22, 2018 10:35am
Quoting hzs10
{quote} What is TE? I will post whenever I am free. As I am workibg full time. Hopeful this strategy will work long term and profitable.
TE stands for Trading Explorer, an inbuilt feature of Forexfactory, where you can put your mt4 account number & investor password, like myfxbook & other forex account performance analysis services it will automatically update as you take trades & assess the performance. You can see an example in the attached image. You can do this from your profile page.

Regards.

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How big can you think!
  • #9
  • Sep 22, 2018 11:21am Sep 22, 2018 11:21am
Hi HZS10
Really like this simple approach ( I feel it is not worth fighting the manipulation by the "BIG BOYS" ) where we take a small piece out of the vast market structure and not worry too much about where things stand on the larger scale. I will test on a daily chart.
Two questions, do you have a limit on how big the candle is and how long will you hold a trade before closing.
Chris
  • #10
  • Sep 22, 2018 11:45am Sep 22, 2018 11:45am
Here is a good indicator for several things but I am using it here to only show engulfing and inside bar setups.
I have included the set file and the areas of interest to set it up. I have also posted a current 4hr chart of EURUSD.
Chris

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Attached File(s)
File Type: ex4 OGT Price Action Indicator V1.2.ex4   45 KB | 1,941 downloads
  • #11
  • Edited Sep 23, 2018 2:59pm Sep 22, 2018 4:14pm | Edited Sep 23, 2018 2:59pm
Sorry HZS10 for spamming your journal. This will be my last post.(if you want I will delete them)
This is a chart of EURUSD daily for 1 year. It shows only engulfing signals, it is self explanatory. My only idea, from the data is that maybe the PT should be 150 not 200, then we would have had 80% wins instead of 60% wins. Also I would set pending orders at high/low of engulfing candles.
Chris
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Here are some more results
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Change to set file...
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  • #12
  • Sep 22, 2018 9:56pm Sep 22, 2018 9:56pm
i like simple strategies that simple i hope it's work with you , i guess some pairs will bring to you great results while others probably not but my best wishes to you, i use Fibo also and simple chart like you
  • #13
  • Sep 24, 2018 8:11am Sep 24, 2018 8:11am
Quoting cfudge
Hi HZS10 Really like this simple approach ( I feel it is not worth fighting the manipulation by the "BIG BOYS" ) where we take a small piece out of the vast market structure and not worry too much about where things stand on the larger scale. I will test on a daily chart. Two questions, do you have a limit on how big the candle is and how long will you hold a trade before closing. Chris
i have no limit on the bar. I will enter as long the high/low of current bar engulf the previous bar. Daily bar will definitely work. But i prefer H4 as daily open for me is early in the morning and the spread is high.
  • #14
  • Sep 24, 2018 8:15am Sep 24, 2018 8:15am
No worries. I dont use indicator. U can set the TP TO whatever that suit you. I am still trstibg out. Sometime I close manually at 150 too. My main purpose is to show using phone can trade and be profitable too. So i will not use any indicator. And H4 or higher timeframe just need a few min to check ur chart. So there is no hassel at all

Quoting cfudge
Sorry HZS10 for spamming your journal. This will be my last post.(if you want I will delete them) This is a chart of EURUSD daily for 1 year. It shows only engulfing signals, it is self explanatory. My only idea, from the data is that maybe the PT should be 150 not 200, then we would have had 80% wins instead of 60% wins. Also I would set pending orders at high/low of engulfing candles. Chris {image} Here are some more results {image} {image} {image} {image} {image} Change to set file... {image}
  • #15
  • Sep 24, 2018 8:17am Sep 24, 2018 8:17am
Last week end off will all SL but overall profit still looks good. Let's see how last week of sep does. I am now at Maldive for hols so reply will be slow
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  • #16
  • Sep 24, 2018 8:17am Sep 24, 2018 8:17am
This are my current trades for now. Few free to put ur charts and ask qns
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  • #17
  • Sep 24, 2018 8:27am Sep 24, 2018 8:27am
Quoting hzs10
This are my current trades for now. Few free to put ur charts and ask qns {image}
Simple but powerful technique!
  • #18
  • Sep 24, 2018 6:33pm Sep 24, 2018 6:33pm
First two trades from yesterday
Chris
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  • #19
  • Sep 25, 2018 9:54am Sep 25, 2018 9:54am
Here are a few I have tried testing this method. I’ve lost some and won some. Looking back, if I wait until the entry line (marked BE on my fibs) has clearly broken, win rate would be higher. Most of the time, I am entering on the next candle at opening or near the opening which may be in the middle of the previous engulfing signal candle. Seems there is more risk for price to go the opposite way to take out the engulfing candle previous high or low and then reverse into the direction of my original trade. If I wait for the trade to breakout and enter then, win rate may be better.

Interesting method and suits me since I work 60 hrs per week and easy to check candles every 4 hours.

Been practicing moving SL to BE at +0.5, move to +0.5 at +1 and so on to see how much move can be captured.

GY in profit
NC closed at +0.5
AZ closed at -1
GU closed at -1
NCH SL moved to BE
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  • #20
  • Sep 26, 2018 9:39pm Sep 26, 2018 9:39pm
Here is a run down of the win percentage of several pairs I have tested so far.
These are wins based on setting a buy/sell stop order at the high/low of the engulfing candle and having SL (at a percent of account capital) at the top/bottom of engulfing candle.
TP will always be 150 fib.

A couple of things I have noticed is that this method does not need a trend bias filter. It works good in trends and range and lastly, if you get a second signal (of the same direction) while you are still in a trade you can double your trade allowance on the second trade.

Chris

USDCAD 77% over 80 trades in 5 years
WTI 65% over 29 trades in 4 years
CHFJPY 79% over 38 trades in 2 years
USDCHF 72% over 25 trades in 2 years
EURUSD 80% over 18 trades in 1 year
GBPCHF 60% over 63 trades in 3 years
AUDUSD 65% over 61 trades in 3 years
GBPJPY 67% over 52 trades in 3 years
GBPNZD 74% over 75 trades in 3 years
USDJPY 81% over 27 trades in 5 years
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