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Simple H4 Mobile Trading System

  • #321
  • Edited 6:38am Oct 14, 2018 6:21am | Edited 6:38am
Quoting valdecchio
{quote} hello everyone .. first of all a huge thanks to hzs10, for sharing this trategy so detailed with everyone, in the environment of the traders, few are so kind. I am a trader since 2006 and I already knew this strategy, but not so detailed, so again thanks to hzs10. I read all the threads, and I noticed that many did not understand how an ENGULFING should be configured, without wishing to confuse anyone, if you want I recommend this extremely precise tool in recognizing a perfect engulfing, obviously configurable, with push notifications,...
The indicator creator is from our very own forum Forex Factory probably we could reach out to him to add this detail to it for those interested.
Nb. The create of this thread uses high and low of the candle to determine the engulfing scenario and not all alerts from this indicator will line up the same as her definition since this indicator also uses the body to determine ENGULFING and not the high and low alone, so unless there are parameters to select that aspect of the high and low only you might mixed signals which do not line up exactly with her specific candle pattern, you will get some but not all the time.

However I believe the 150 zone is really 1 : 0.5 RR and 200 is simply 1:1 RR so the indicator is actually equipped to function for the fibonnaci's original intension...The only difference is the ema filter.

My stupid advice is to take this one instead if you want to stick to her identifies rules of signal bar. https://www.mql5.com/en/market/product/3719.

Nevertheless this is mobile trading and I don't believe she is really interested in those alternative solutions. She seems to be quite comfortable using her mobile which is giving her the results she's looking for and displaying effortlessly like a lethal weapon in the markets.

Trade safe...
R:R "Percentage Focus"
  • #322
  • Oct 14, 2018 7:17am Oct 14, 2018 7:17am
Quoting cfudge
{quote} Seriously!!!!!!!! This approach that HZS10 has put forward is so simple and requires zero emotion when traded. Requires zero decision analysis. Requires zero trade management except to move a SL to BE...not emotional at all I would say. I did a simple visual backtest as I described and erred on the side of the losses in order to keep emotion out of it, as a result my win percentages are actually lower than they could be with the steps I talked about earlier. But as we agree time will tell us both the answer. Chris
Somebody can make EA? Some strategys with EA is useless but this with such mechanical rules is good for EA. If EA trading could be with no sucess than manual trading too be in loss with this system
  • #323
  • Oct 14, 2018 7:31am Oct 14, 2018 7:31am
Quoting HappyMan
Dear hzs10, Can you please help me understand your money management. I gather you use Fibo and that when the price reaches 150 you move the SL to 100. Where do you start in the first place? Pictures are welcome. Thank you!
Please read post #2
  • #324
  • Oct 14, 2018 7:32am Oct 14, 2018 7:32am
This is ENGULFING Bar... not all setups will match the OP's definition. Some do but not all. Don't make this mistake. However the two last pictures that show trades actually fit the description.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: ffx-engulfing-setup-alerter-screen-8898.png Size: 16 KB
Click to Enlarge Name: ffx-engulfing-setup-alerter-screen-5992.png Size: 15 KB
R:R "Percentage Focus"
  • #325
  • Oct 14, 2018 7:35am Oct 14, 2018 7:35am
Now what I believe to match her description in all cases is this one. You can choose the type you use.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ffx-outsidebar-setup-alerter-screen-2920.png Size: 23 KB
Click to Enlarge Name: ffx-outsidebar-setup-alerter-screen-6353.png Size: 23 KB
Click to Enlarge Name: ffx-outsidebar-setup-alerter-screen-5188.png Size: 17 KB
Click to Enlarge Name: ffx-outsidebar-setup-alerter-screen-9315.png Size: 15 KB
R:R "Percentage Focus"
  • #326
  • Oct 14, 2018 7:36am Oct 14, 2018 7:36am
Quoting ficibald
{quote} Somebody can make EA? Some strategys with EA is useless but this with such mechanical rules is good for EA. If EA trading could be with no sucess than manual trading too be in loss with this system


So what you are saying, TO prove that any trading strategies work, we need to build an EA and if EA will be successful our manual trading will be successful, right?
  • #327
  • Oct 14, 2018 7:41am Oct 14, 2018 7:41am
Thanks for this. That is the reason I stop backtesting. My previous “mentor” also teach backtest which I think is not useful to me so I stopped. I think the best is to use demo and do forward testing. However, for those who are comfortable, I wont stop you from doing it. Whether you want to go the long route or just be efficient.

Quoting Badget01
Guys, you are talking about backtesting. Great. What you will find out? That one pair was 80% successful so you are going to trade it? I can backtest 100 strategies and they will be all successful. You know why? Because, you will say to yourself: here I would move to BE, here I would take profit, here I would not take that trade, here I would do that and there I would do that. You know, why you are not profitable and you dont have any trading system? Because you are looking for your holy grail, best would be to have about 90% profitable trades without...
  • #328
  • Oct 14, 2018 8:43am Oct 14, 2018 8:43am
Here is a nice engulfing/outside bar indi.


All joking aside, thank you to hzs10 for this nice system. It is allowing me to apply something consistently during my workday and, unlike some daily candle systems I have messed with, has enough frequency and moves quickly enough for my general impatience.
Wow! I've got some experience to gain.
  • #329
  • Oct 14, 2018 9:05am Oct 14, 2018 9:05am
Quoting nickv
Nice strategy, especially the simplicity. I do have one question. How do you add the price levels on the fib lines? I'm using the mobile android version. {image} {image}
Check this post

Quoting okshop
{quote} 0 / 0.5 / 1 1.236 -0.5 -1 / -2 / -3 / -4 / -5 THE TRICK is actually getting the best set up to trade {image} {image}
  • #330
  • Oct 14, 2018 9:07am Oct 14, 2018 9:07am
Quote
PrinceJ58
I bought this too ...
so to follow the strategy of hzs10 do you mind this? (Outsidebar)
  • #331
  • Oct 14, 2018 9:10am Oct 14, 2018 9:10am
Quoting Badget01
Guys, you are talking about backtesting. Great. What you will find out? That one pair was 80% successful so you are going to trade it? I can backtest 100 strategies and they will be all successful. You know why? Because, you will say to yourself: here I would move to BE, here I would take profit, here I would not take that trade, here I would do that and there I would do that. You know, why you are not profitable and you dont have any trading system? Because you are looking for your holy grail, best would be to have about 90% profitable trades without...
To suggest backtesting is of no use misses the point as far as I'm concerned. Naturally, all strategies should be exposed to forward testing but not to back test just shows a hole in a trader's game IMHO. Efficient backtesting isn't used to curve fit PT and SL; it's value lies in other things such as gauging maximum drawdown via monte carlo for money management purposes and a whole host of other things which I won't bore you with. Walk forward analysis, which is the closest thing to forward testing on historical data, is also of value. There are a million and one setups that worked over the last six months but will fail miserably in six months time, backtesting/walk forward analysis can help the trader assess the likely longevity of a strategy.

This post is not to knock the engulfing strategy of this thread as I've done a statistical analysis a long time ago about daily engulfing candles and already know that short term trades (1 to 3 days) have a good edge for the last 20 years for the pairs analysed (and this was without the EMA30). This reply is more about rebuking a post that undermines a solid tool in the trader's toolbox which if, used correctly, adds a lot of value. Forward testing is also essential.

Sorry for my post, I noticed the comment about backtesting on the main FF page and had to respond.
  • #332
  • Oct 14, 2018 9:22am Oct 14, 2018 9:22am
Quoting nickv
Nice strategy, especially the simplicity. I do have one question. How do you add the price levels on the fib lines? I'm using the mobile android version. {image} {image}
You have to add a percentage symbol and a dollar sign in the description. %$ like this.
Attached Image (click to enlarge)
Click to Enlarge Name: B666B4F3-2CB7-44E1-AC9D-D1FDD592792B.png Size: 1.1 MB
Grind until you no longer have to introduce yourself. 4:30am club
  • #333
  • Oct 14, 2018 9:53am Oct 14, 2018 9:53am
Quoting Badget01
{quote} So what you are saying, TO prove that any trading strategies work, we need to build an EA and if EA will be successful our manual trading will be successful, right?
I dont say nothing about to prove something,just say that results be the same with EA and manual trading(maybe not for you,if you coudnt control your emotions with such easy and mechanical rules).And if EA trade succeful why you would be willing trade it manualy?
  • #334
  • Oct 14, 2018 9:56am Oct 14, 2018 9:56am
Quoting ficibald
{quote} I dont say nothing about to prove something,just say that results be the same with EA and manual trading(maybe not for you,if you coudnt control your emotions with such easy and mechanical rules).And if EA trade succeful why you would be willing trade it manualy?
Might be good to get an idea of how well it develops, nevertheless so far discretionary trading outperforms any EA. I have a system that is profitable as an EA but it’s even more profitable if discretion is applied.
Grind until you no longer have to introduce yourself. 4:30am club
  • #335
  • Oct 14, 2018 10:01am Oct 14, 2018 10:01am
Quoting Fxmd
{quote} You have to add a percentage symbol and a dollar sign in the description. %$ like this. {image}
Thx!
  • #336
  • Oct 14, 2018 10:02am Oct 14, 2018 10:02am
Quoting mbrown
{quote} To suggest backtesting is of no use misses the point as far as I'm concerned. Naturally, all strategies should be exposed to forward testing but not to back test just shows a hole in a trader's game IMHO. Efficient backtesting isn't used to curve fit PT and SL; it's value lies in other things such as gauging maximum drawdown via monte carlo for money management purposes and a whole host of other things which I won't bore you with. Walk forward analysis, which is the closest thing to forward testing on historical data, is also of value. There...
I think you’re right. Objective backtesting is good to avoid having faith or hoping it works, And you can optimize the strategy by watching the results.
Grind until you no longer have to introduce yourself. 4:30am club
  • #337
  • Oct 14, 2018 10:10am Oct 14, 2018 10:10am
Quoting ficibald
{quote} I dont say nothing about to prove something,just say that results be the same with EA and manual trading(maybe not for you,if you coudnt control your emotions with such easy and mechanical rules).And if EA trade succeful why you would be willing trade it manualy?

I dont really understand you, never mind.

Why I would want to trade manually? Well, maybe trading is my passion, maybe I love to watch chart everyday and control my trades manually, maybe I dont trust any EA's. So here is a few reason's, why I would want to trade manually.
  • #338
  • Oct 14, 2018 10:30am Oct 14, 2018 10:30am
Quoting Badget01
{quote} I dont really understand you, never mind. Why I would want to trade manually? Well, maybe trading is my passion, maybe I love to watch chart everyday and control my trades manually, maybe I dont trust any EA's. So here is a few reason's, why I would want to trade manually.
This means we all people are different ,If I would have EA who makes money,I would never ever make single trade manualy.(hovever I have doubt that such EA exists,)
  • #339
  • Oct 14, 2018 10:46am Oct 14, 2018 10:46am
Quoting ING.WIZARD
{quote} What's your settings on the Fibo? levels?


i think he is don't like share Fibo levels
  • #340
  • Oct 14, 2018 10:57am Oct 14, 2018 10:57am
Quoting mbrown
{quote} They exist. I'll sell you one for £100,000 money back guarantee!!!
why will you need £100,000 if you had money machine?you already have all money of the world
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