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Simple H4 Mobile Trading System

  • #1,221
  • Nov 15, 2018 6:07pm Nov 15, 2018 6:07pm
Quoting Ansab001
I think the reason most are failing on this is they do not know when to enter or recognize a proper engulfing trades
Donīt think so much, because I know how engulfing bars look and I have an indicator which highlights them. Still, almost all trades are losses. See my trades from today, strictly by the rules, but all of them hit SL:

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This system is not working, sorry.
  • #1,222
  • Nov 15, 2018 6:44pm Nov 15, 2018 6:44pm
Quoting TradeForexFx
Review 28 pairs at a glance. Click on the pair to change chart to the desired pair. use the "Post val" parameter to get pair names like EURUSDv, "v" being the character for the Post_val" parameter. {file} {image} {file} {file}
EMAIL ALERT.

Can I ask you TradeForexFx, or one of our Programmers in here to add an email Alert to this Indicator?.
Attached File(s)
File Type: mq4 HZS_Engulfing Bar DB.mq4   417 KB | 540 downloads

Thanks in Advance.

Cheerz.
  • #1,223
  • Nov 15, 2018 8:10pm Nov 15, 2018 8:10pm
Quoting geektrader
{quote} Donīt think so much, because I know how engulfing bars look and I have an indicator which highlights them. Still, almost all trades are losses. See my trades from today, strictly by the rules, but all of them hit SL: {image} {image} {image} {image} {image} {image} {image} {image} This system is not working, sorry.
-eurgbp was on support, dont sell into support
-cadchf, same thing, at bottom of range on support.
-eursgd, on support
-usdczk, looked like a decent setup but is inside a wedge pattern on 4hr, should wait for this to break.
-eurhkd, on support
-eurusd, looks decent, i also traded it and got stopped out, thats just trading not going to win 100%
-sekjpy, is choppy with no direction, should leave it alone.
-nokjpy, on support.

should try trading the majors and some minors, stretching yourself to thin across all the currency pairs just makes it harder. focus on only the best setups. Learn some price action to go along with the strategy, but don't just blindly follow along then claim the system doesn't work because you haven't grasped it yet.
  • #1,224
  • Nov 15, 2018 8:24pm Nov 15, 2018 8:24pm
I follow your comment fxlrich. Don't go arround catching any engulfing candle, go with the trend...follow HH HL , LH LL ...learn PA and then and just then come back and tell us that this sistem don't Work.
eurhkd and Eurusd you sell the engulfing candle when price is making HH HL.
Quoting fxlrich
{quote} -eurgbp was on support, dont sell into support -cadchf, same thing, at bottom of range on support. -eursgd, on support -usdczk, looked like a decent setup but is inside a wedge pattern on 4hr, should wait for this to break. -eurhkd, on support -eurusd, looks decent, i also traded it and got stopped out, thats just trading not going to win 100% -sekjpy, is choppy with no direction, should leave it alone. -nokjpy, on support. should try trading the majors and some minors, stretching yourself to thin across all the currency pairs just makes...
  • #1,225
  • Nov 15, 2018 8:31pm Nov 15, 2018 8:31pm
Quoting geektrader
{quote} Donīt think so much, because I know how engulfing bars look and I have an indicator which highlights them. Still, almost all trades are losses. See my trades from today, strictly by the rules, but all of them hit SL: {image} {image} {image} {image} {image} {image} {image} {image} This system is not working, sorry.
Some of last trades...
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  • #1,226
  • Nov 15, 2018 9:30pm Nov 15, 2018 9:30pm
Quoting fxlrich
{quote} -eurgbp was on support, dont sell into support -cadchf, same thing, at bottom of range on support. -eursgd, on support -usdczk, looked like a decent setup but is inside a wedge pattern on 4hr, should wait for this to break. -eurhkd, on support -eurusd, looks decent, i also traded it and got stopped out, thats just trading not going to win 100% -sekjpy, is choppy with no direction, should leave it alone. -nokjpy, on support. should try trading the majors and some minors, stretching yourself to thin across all the currency pairs just makes...
I am well aware about that (been trading for 15 years), but I am talking about the PLAIN original system and itīs rules, which are:

- engulfing bar & price below 30 EMA: sell
- engulfing bar & price above 30 EMA: buy

Nothing within those rules says to check support & resistance, other indicators, or whatever. What I am saying is that this system is NOT working as described and ONLY if you go and interpret other things into the market, which means you can basically use any other system as well, as it has no edge without further interpretations by the trader. Without that, this is a failing system as one can also easily see by the EA that has been developed for this, unfortunately.
  • #1,227
  • Edited 9:58pm Nov 15, 2018 9:43pm | Edited 9:58pm
Quoting geektrader
{quote} Donīt think so much, because I know how engulfing bars look and I have an indicator which highlights them. Still, almost all trades are losses. See my trades from today, strictly by the rules, but all of them hit SL: {image} {image} {image} {image} {image} {image} {image} {image} This system is not working, sorry.
Hi Geek trader
as you have posted 8 charts and it all seems clear that none of the following candles after the engulfing bar close below the low of your engulfing bar for a sell. If you have taken only when the next bar shows a close below the low, I believe it stands a chance of winning. For example, if you see a pin bar on top of a rising trend do you just enter on the next bar without caring what the next price action is going to be? You surely want to see a confirmation or a follow up as I mentioned. I have been talking to the author about this on the side and my purpose is not to add confusion. But if you enter just seeing an engulfing you are in for a serious shock. This is just my take and hope you people do not misunderstand me for adding unnecessary filter. But friend, step back and think again. Even if it is another 4 hour bar wait and you think you are late by one bar so be it as long as it give me the confidence I am ok.
If you see Trinquete methods, he uses his own filter by seeing HH and HL before he confidently enters a buy. That just his style but I think it is a rational approach which I myself is trying to incorporate also.My usdyen sell chart is enclosed as an example. It is still has not reach TP as I write
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  • #1,228
  • Nov 15, 2018 10:40pm Nov 15, 2018 10:40pm
Try changing all the buys to sells and all the sells to buys. Hahahaha

Quoting geektrader
{quote} Donīt think so much, because I know how engulfing bars look and I have an indicator which highlights them. Still, almost all trades are losses. See my trades from today, strictly by the rules, but all of them hit SL: {image} {image} {image} {image} {image} {image} {image} {image} This system is not working, sorry.
  • #1,229
  • Nov 15, 2018 11:40pm Nov 15, 2018 11:40pm
If you want to follow the rules as per post 1...then you need to do you're own due diligence, hzs10 has told you what pairs she chooses to trade.
If you look at my post on post 77 you will see that I visually tested a lot of pairs, some as far back as 5 years, and chose to trade the ones with a high win percentage (which is what you need for this method to work profitably)
I trade this on daily TF. You will have to do all that work on the 4hr, no shortcuts in life...enjoy.

Chris
  • #1,231
  • Nov 16, 2018 1:00am Nov 16, 2018 1:00am
I have no reasons to defend this strategy. But this is what happened. I randomly picked GBPCHF (because I happened to be on this chart when this idea came up) and I did a manual backtest. I do not know how MT4 can let you backtest automatically. If that is possible.
So during this 6 months of back test from Nov 2018 till May 2018, my back test shows that there were 21 wins and 5 losses. Of course, I used my filter as mentioned in my earlier post. I do not just picked any engulfing bar.
  • #1,232
  • Nov 16, 2018 1:08am Nov 16, 2018 1:08am
Quoting geektrader
Yes, I get you guys, I am making a living from (automated) trading since 2009, no worries :-) All I am saying is that this system is NOT working as per the rules in post #1, it is a net loser. ONLY if you interpret the market (and humans are bad at that) it works a bit better. But still, this strategy is doomed to fail (backtested it on data since 1987, 28 pairs already (H4 and D1)). Sorry to have no better news.
I don't know if this system working only based on the rules on page 1, but I'm sure that you can not tell if a system work or not based on a couple of bad days (hzs10 tells on page 1 that she testing the system and I guess she is not finish with that yet).

The system need to be tested over a couple of months with many trades. I'm also sure that the entry method is good and a newbie can use this system and learn to filter out trades with for examples:
- The slope of the 30EMA in the same direction as the entry and not flat
- The body of the engulfing candle should at least be 2/3 of the candle and the close of the candle should be in the same direction as the entry
- The entry should be taken at swing point in the same direction as the trend
- Check if HH,HL,LL, LH are in the same direction as 30EMA. This can also be an alternative to 30EMA.

For newbie I do not think you need incorporate support and resistance because it make the strategy more complex using it from a mobile phone, it's take time to learn and for this startergy it's not so important (the startergy move SL to BE fast).

Regards

Paal
  • #1,233
  • Nov 16, 2018 1:59am Nov 16, 2018 1:59am
Quoting geektrader
Yes, I get you guys, I am making a living from (automated) trading since 2009, no worries :-) All I am saying is that this system is NOT working as per the rules in post #1, it is a net loser. ONLY if you interpret the market (and humans are bad at that) it works a bit better. But still, this strategy is doomed to fail (backtested it on data since 1987, 28 pairs already (H4 and D1)). Sorry to have no better news.
Not saying it works or not, but just looking quickly at your charts, i think i spotted more wins than losses, according to the basic rules (outside bars & slope of EMA)
people are trading basic things differently. so what doesnt work for you might work for someone else.
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  • #1,234
  • Nov 16, 2018 2:29am Nov 16, 2018 2:29am
Quoting geektrader
{quote} I am well aware about that (been trading for 15 years), but I am talking about the PLAIN original system and itīs rules, which are: - engulfing bar & price below 30 EMA: sell - engulfing bar & price above 30 EMA: buy Nothing within those rules says to check support & resistance, other indicators, or whatever. What I am saying is that this system is NOT working as described and ONLY if you go and interpret other things into the market, which means you can basically use any other system as well, as it has no edge without further interpretations...
Those are not the only rules.
Gone to a better place
  • #1,235
  • Nov 16, 2018 2:54am Nov 16, 2018 2:54am
Quoting smikester
{quote} Those are not the only rules.
Show me the other rules of the system creator then. Her post is here https://www.forexfactory.com/showthread.php?t=824888 and it says:

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

So where are more rules from the ORIGINAL creator of this system that I have not followed?
  • #1,236
  • Nov 16, 2018 2:58am Nov 16, 2018 2:58am
Quoting geektrader
{quote} Show me the other rules of the system creator then. Her post is here https://www.forexfactory.com/showthread.php?t=824888 and it says: 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 So where are more rules from the ORIGINAL creator of this system that I have not followed?
She also said : Dont trade every engulf bar.
She has the experience to trade this method and win,so you can not trade blindly every engulf bar.
Download Corti EA : https://cortiea.com
  • #1,237
  • Nov 16, 2018 3:12am Nov 16, 2018 3:12am
... And so this system is not a system, sorry. As soon as second guessing is required in addition to the system rules to make it successful, it is a plain fail for me, as it misses the point of a system that can be traded "as is". It simply is not a winning system in the long run - all the backtests of the EA for that system show that. ONLY if you are an experienced trader you can POSSIBLY make money with it, but again, that is not a real "mechanical" system then.
  • #1,238
  • Nov 16, 2018 3:39am Nov 16, 2018 3:39am
Quoting geektrader
... And so this system is not a system, sorry. As soon as second guessing is required in addition to the system rules to make it successful, it is a plain fail for me, as it misses the point of a system that can be traded "as is". It simply is not a winning system in the long run - all the backtests of the EA for that system show that. ONLY if you are an experienced trader you can POSSIBLY make money with it, but again, that is not a real "mechanical" system then.
I think we are here not to judge the system right away. I think we can also do our part to make the system better by testing it and at the same time, we can contribute here to make it better.

We just don't enter blindly IMHO we also have to check PA and I am posting this trade for today to say that the 4 hour engulfing candle can also be effective for counter trend trade.
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We're not here to be right, we're here to Profit Consistently!
  • #1,239
  • Nov 16, 2018 3:41am Nov 16, 2018 3:41am
Quoting geektrader
... And so this system is not a system, sorry. As soon as second guessing is required in addition to the system rules to make it successful, it is a plain fail for me, as it misses the point of a system that can be traded "as is". It simply is not a winning system in the long run - all the backtests of the EA for that system show that. ONLY if you are an experienced trader you can POSSIBLY make money with it, but again, that is not a real "mechanical" system then.
Why everyone started the thread, there's any one beat. Each system has they pro and cons , so if you think this not work click unfollow button this thread. It make more peace.

No need debate. Just follow or forget it.
  • #1,240
  • Nov 16, 2018 4:02am Nov 16, 2018 4:02am
Quoting geektrader
{quote} Show me the other rules of the system creator then. Her post is here https://www.forexfactory.com/showthread.php?t=824888 and it says: 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 So where are more rules from the ORIGINAL creator of this system that I have not followed?
I said those are not the only rules. It was true so you have added some more. There's no need to get peevish. Have you also included moving your stop loss?
Gone to a better place
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