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Simple H4 Mobile Trading System

  • #1,361
  • Nov 19, 2018 4:13pm Nov 19, 2018 4:13pm
Quoting smikester
I was wondering what more experienced traders of this method thought about adding to a position where a second engulfing bar appears before the first has played out?
Concerning my earlier post regarding the fact that if an additional setup occurs during a trade of the same direction you can double (or more) the position size...Over 100s of trades across several pairs I have seen only 2 that did not work out.

This was on daily TF not 4hr, probably similar

Chris
  • #1,362
  • Nov 19, 2018 7:47pm Nov 19, 2018 7:47pm
Quoting cfudge
{quote} Concerning my earlier post regarding the fact that if an additional setup occurs during a trade of the same direction you can double (or more) the position size...Over 100s of trades across several pairs I have seen only 2 that did not work out. This was on daily TF not 4hr, probably similar Chris
Good morning to all of you.

Hi cfudge, where did you get this info from?
  • #1,363
  • Nov 19, 2018 7:50pm Nov 19, 2018 7:50pm
Quoting Trinquete
In 4h yes, but saw D1 doing HH and Im motivated!. {quote}
Hi Trinquete

I saw D1 was lower high. See the two yellow arrows in my chart. Is this how you see your HH and HL? So I would not enter a buy at H4. In fact I sold based on the engulfing and turns up well.The trade is still in the running.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 87 KB
  • #1,364
  • Nov 19, 2018 7:53pm Nov 19, 2018 7:53pm
Quoting josephkee
{quote} Hi Trinquete I saw D1 was lower high. See the two yellow arrows in my chart. Is this how you see your HH and HL? So I would not enter a buy at H4. In fact I sold based on the engulfing and turns up well.The trade is still in the running.
Hi Joseph, was a big mistake, didn't realize about LH, I saw a HH in 4h. Is not my way to trade, was a mistake.
Wow here is 22:55 hrs.
  • #1,365
  • Nov 19, 2018 8:03pm Nov 19, 2018 8:03pm
Quoting cfudge
{quote} Concerning my earlier post regarding the fact that if an additional setup occurs during a trade of the same direction you can double (or more) the position size...Over 100s of trades across several pairs I have seen only 2 that did not work out. This was on daily TF not 4hr, probably similar Chris
Hi cfudge
can you let me the post no? Maybe I did not read it.
thanks
  • #1,366
  • Nov 19, 2018 8:10pm Nov 19, 2018 8:10pm
Quoting josephkee
{quote} ... I saw D1 was lower high. ... {image}
Hi Joseph,

That lower high is not an actual lower high yet. Depending on how you define your swings, lower high on daily time frame will be confirmed if and only if October 26th low is penetrated.

Regards,
Blackeagle
  • #1,367
  • Nov 19, 2018 8:33pm Nov 19, 2018 8:33pm
Quoting Blackeagle
{quote} Hi Joseph, That lower high is not an actual lower high yet. Depending on how you define your swings, lower high on daily time frame will be confirmed if and only if October 26th low is penetrated. Regards, Blackeagle
Thanks blackeagle. I attach the chart. Please tell me. I am completely lost. But I think take all valid engulfing bars that comes our way no matter counter trend or not. Because the statistics taken by me , I do not check back if it is counter trend or not. Like what cfudge says, it will turn up profitable in the long run.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily1.png Size: 90 KB
  • #1,368
  • Nov 19, 2018 8:34pm Nov 19, 2018 8:34pm
Quoting josephkee
{quote} Hi cfudge can you let me the post no? Maybe I did not read it. thanks
77
  • #1,369
  • Nov 19, 2018 8:42pm Nov 19, 2018 8:42pm
That's a LL LH
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20181119-234126.jpg Size: 706 KB

Quoting josephkee
{quote} Thanks blackeagle. I attach the chart. Please tell me. I am completely lost. But I think take all valid engulfing bars that comes our way no matter counter trend or not. Because the statistics taken by me , I do not check back if it is counter trend or not. Like what cfudge says, it will turn up profitable in the long run. {image}
  • #1,370
  • Nov 19, 2018 9:18pm Nov 19, 2018 9:18pm
Quoting Trinquete
I had a wrong wiew of the daily chart because price reach a supply zone (where I like to sell), well today was a bussy day and I make that mistake. {image} {quote}
Trinquete bro i think we made same mistake as a PA trader. We tend to look too far of the chart when we are only trading for the next few candles.
I kept telling myself trade immediate trend trade immediate trend trade immediate trend! but i still analyse too much on higher timeframe
Im trying to break this habit. Any tips?
  • #1,371
  • Nov 19, 2018 9:22pm Nov 19, 2018 9:22pm
Quoting josephkee
{quote} Thanks blackeagle. I attach the chart. Please tell me. I am completely lost.... {image}
Yes, I mean that. After that swing low is penetrated, then we can say that the chart shows LH and LL which is the definition for downtrend. But this has nothing to do with this method of trading as strategy is using a different method to determine the trend. If you trade all engulfing bars no matter what the trend is, it is your choice. I just wanted to point out how a trend is determined in terms of HH-HL or LH-LL.

Regards,
Blackeagle
  • #1,372
  • Nov 19, 2018 9:27pm Nov 19, 2018 9:27pm
Quoting ZackWj
{quote} Trinquete bro i think we made same mistake as a PA trader. We tend to look too far of the chart when we are only trading for the next few candles. I kept telling myself trade immediate trend trade immediate trend trade immediate trend! ... Im trying to break this habit. Any tips?
Tip? Check immediate trend!!!

Regards,
Blackeagle
  • #1,373
  • Nov 19, 2018 9:41pm Nov 19, 2018 9:41pm
Quoting Blackeagle
{quote} Yes, I mean that. After that swing low is penetrated, then we can say that the chart shows LH and LL which is the definition for downtrend. But this has nothing to do with this method of trading as strategy is using a different method to determine the trend. If you trade all engulfing bars no matter what the trend is, it is your choice. I just wanted to point out how a trend is determined in terms of HH-HL or LH-LL. Regards, Blackeagle
I tried the engulfing combine with HH-HL and have good results. Í think will stick here and develop my trading with the other fellow traders
  • #1,374
  • Nov 19, 2018 10:08pm Nov 19, 2018 10:08pm
Quoting Trinquete
{quote} I tried the engulfing combine with HH-HL and have good results. Í think will stick here and develop my trading with the other fellow traders
There are many different methods to determine a trend, HH-HL and LH-LL, moving average slope, moving average crossover, trendline etc. Considering momentum is normally stronger with trend compared to a retracement, it is logical to trade engulfing bar as a continuation pattern especially since the strategy is looking for only RR 1:1. But one can also argue that engulfing bars are effective, too, as a reversal pattern. Therefore it is trader's choice to trade this strategy either in trend direction or trend - counter trend both.

Regards,
Blackeagle
  • #1,375
  • Nov 19, 2018 10:38pm Nov 19, 2018 10:38pm
Let me summarise

For filter

1) confirmation bar after EB
2) higher high, higher low (immediate trend? or higher time frame) Trinquete
3) let it retrace till 100 of eb before enter to achieve 1:1
4) For me I want to see price is above ema 30 in daily time frame same as H4 before I enter on seeing confirmation bar? HH and HL in daily is too much own perception as for me, Using MA cuts out the subjectiveness.

Is there any others?

As for me, I am beginning to just enter any valid EB that comes my way for two pairs USDYEN and USDSGD. Wish me luck.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20181120-122726.png Size: 91 KB
  • #1,376
  • Nov 19, 2018 10:42pm Nov 19, 2018 10:42pm
Quoting Blackeagle
{quote} Tip? Check immediate trend!!! Regards, Blackeagle
Mr Blackeagle
are you saying just check the TF you are trading in this case H4? If price up take bullish eb if price is below ema take bearish eb?
  • #1,377
  • Nov 19, 2018 10:44pm Nov 19, 2018 10:44pm
Quoting josephkee
{quote} You are absolutely right. There is no way you can have your cake and eat it. Its either you want to be sure before you enter and lose some points or you need to manually adjust the SL and TP to suit your 1:1 ratio. But I always bring my BE to 100 once price hit 150 fibo and it helps a lot except for one trade GBPCHF I move to 100 and it got stop out If I have remained above 0 and not move to 100 I would have TP eventually. This is fx and there is always surprises. Oh... you can draw your fibo on the confirmation bar not engulfing....

hi josephkee,

yes, then its ok, we would have rr:1!
Money is made by sitting, not trading. Jesse L. Livermore
  • #1,378
  • Nov 19, 2018 10:47pm Nov 19, 2018 10:47pm
Quoting ZackWj
{quote} Trinquete bro i think we made same mistake as a PA trader. We tend to look too far of the chart when we are only trading for the next few candles. I kept telling myself trade immediate trend trade immediate trend trade immediate trend! but i still analyse too much on higher timeframe Im trying to break this habit. Any tips?
yes, that is the 'edge' of this system...

...but getting rid of 'bad habit' is not easy..
Money is made by sitting, not trading. Jesse L. Livermore
  • #1,379
  • Nov 19, 2018 10:47pm Nov 19, 2018 10:47pm
Quoting Trinquete
{quote} I tried the engulfing combine with HH-HL and have good results. Í think will stick here and develop my trading with the other fellow traders
Trinquete

you mean you check HH or HL in H4 or daily? Can you give me an example? I seriously think its a good filter.
  • #1,380
  • Nov 19, 2018 10:52pm Nov 19, 2018 10:52pm
Quoting josephkee
{quote} Trinquete you mean you check HH or HL in H4 or daily? Can you give me an example? I seriously think its a good filter.
I will post a complete Example tomorrow morning about how I will aproach the sistem. Now are 2 am here
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