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Simple H4 Mobile Trading System

  • #1,381
  • Nov 19, 2018 8:53pm Nov 19, 2018 8:53pm
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

Money is made by sitting, not trading. Jesse L. Livermore
  • #1,382
  • Nov 19, 2018 8:53pm Nov 19, 2018 8:53pm
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?
ZackWj
We need wise man like you around. Your comments jolt us back to reality and get us thinking because what you said make a lot of sense and prevents us from over analysing. Looking for higher high and high low before enters are subjective and you may perceive it to be so and I may not. And do you see current trend, D1, W1 or even monthly? It all boils down to how cautious you want to be before you enter. By the time you analysed everything the cow has already come home.
My back test seems to tell me that "don't care, just take every valid EB, you will be alright and profitable". Wonder how many of you are with me. Thanks
  • #1,383
  • Nov 19, 2018 8:54pm Nov 19, 2018 8:54pm
But watching your results, Im realize that you don't need any help, you are in the right track

Quoting josephkee
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. {image}...
  • #1,384
  • Nov 19, 2018 8:59pm Nov 19, 2018 8:59pm
Quoting Trinquete
But watching your results, Im realize that you don't need any help, you are in the right track {quote}
Please go and sleep. I see you are still up. As for my result, you are wrong. it is at best mixed. I am still experimenting.
Can some kind soul summarise and confirm what we have all discussed and lets conclude and go ahead to trade as per agreed.We need some time to see if it gives us good result after putting in filters.
  • #1,385
  • Nov 19, 2018 8:59pm Nov 19, 2018 8:59pm
Quoting josephkee
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. {image}...
good luck, although i don't trade these!
Money is made by sitting, not trading. Jesse L. Livermore
  • #1,386
  • Nov 19, 2018 9:33pm Nov 19, 2018 9:33pm
i found this indi...
mark only outside candle and with notification

btw 2 days FT, 5 wins 2 losses..
all trading from my android device
Attached File(s)
File Type: ex4 Engulfing Bar Alert v1.2_FGB.ex4   13 KB | 451 downloads
Okay... sorry about my messed up English Tenses
  • #1,387
  • Nov 19, 2018 10:08pm Nov 19, 2018 10:08pm
Quoting reisai
i found this indi... mark only outside candle and with notification btw 2 days FT, 5 wins 2 losses.. all trading from my android device {file}
I think that's is good job. You cant win them all.
  • #1,388
  • Nov 19, 2018 10:21pm Nov 19, 2018 10:21pm
Quoting josephkee
{quote} 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?
Every time frame has its own trend. I have not back/forward tested the strategy, therefore I cannot comment on whether trading only H4 trend or checking the trend on D1 and taking trades on H4 gives more consistent results. Because the strategy is trying to take advantage of strong price momentum in trend direction, probably targeting TP level within a few bars, although lower time frame trends are noisier, it would be reasonable, in my opinion, to check H4 trend only for this strategy.

Regards,
Blackeagle
  • #1,389
  • Nov 19, 2018 10:22pm Nov 19, 2018 10:22pm
Quoting josephkee
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. {image}...
What is the name of the software that shows profit in pips?
  • #1,390
  • Nov 19, 2018 10:28pm Nov 19, 2018 10:28pm
Quoting Blackeagle
{quote} Every time frame has its own trend. I have not back/forward tested the strategy, therefore I cannot comment on whether trading only H4 trend or checking the trend on D1 and taking trades on H4 gives more consistent results. Because the strategy is trying to take advantage of strong price momentum in trend direction, probably targeting TP level within a few bars, although lower time frame trends are noisier, it would be reasonable, in my opinion, to check H4 trend only for this strategy. Regards, Blackeagle
Dear Blackeagle
I love to hear what you say and cut out unnecessary filtering. You are right that we are looking for a short swing to TP and counter trend cannot be wrong. Wonder why those gurus keep saying check higher TF for trend and do not go against it. Higher TF may tell you its uptrend but the lower TF like H4 can still goes down for a short period.
Thanks
  • #1,391
  • Nov 19, 2018 10:28pm Nov 19, 2018 10:28pm
Quoting nickjr96
{quote} What is the name of the software that shows profit in pips?
Beats me, bro.
  • #1,392
  • Nov 19, 2018 10:49pm Nov 19, 2018 10:49pm
Quoting josephkee
{quote} ... Wonder why those gurus keep saying check higher TF for trend and do not go against it. ...
Different trading styles. Higher time frame trends are more reliable. Check out USDJPY daily chart below. Depending on what method you use to determine a trend, USDJPY Daily chart shows uptrend since April 5th. But if you check your H4 chart, you may see a couple of downtrends within this uptrend. Some prefer the reliability of daily or higher time frames and take trades from lower time frames for a better price, some prefer trading only one time frame, it is totally up to your trading style. We cannot say one style is better or worse.

Regards,
Blackeagle
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 127 KB
  • #1,393
  • Nov 19, 2018 10:52pm Nov 19, 2018 10:52pm
You can show profit in pips with forex simulator from soft4fx - it is what I have been using to test.
  • #1,394
  • Nov 19, 2018 10:52pm Nov 19, 2018 10:52pm
My only positions right now
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_2018-11-20-14-51-07.png Size: 240 KB
Click to Enlarge Name: Screenshot_2018-11-20-14-50-55.png Size: 246 KB
We're not here to be right, we're here to Profit Consistently!
  • #1,395
  • Nov 19, 2018 11:19pm Nov 19, 2018 11:19pm
Quoting ranilo.vince
My only positions right now {image} {image}
Vince
Good trade. I also have NZUUSD buy still running. In fact I have two positions because I was presented with two EB on the same trend. I also have sell USDyen and sell USDSGD have already entered 2 USDYEN and 2 USDSGD as it presented to me yesterday and this morning along same trend. I also see that distance of price is far away from the ema slope which tells me I should be safe to enter. I see that most money is made as long as the trend continues and I should double up position as and when I am presented.

BTW your usdcad, did I see clearly? your that bear bar you considered as EB? are you suppose to engulf the previous bull bar? In my chart it does not tell me it engulf.

Vince, just to confirm. For filter, you use confirmation bar. You use retracement, Trend line you mentioned too? What other filter you use sorry to make you repeat.

Finally, to wait for retracement and place a limit order says a lot of us who does this. We must be very confident of this strategy as retracement and placing a limit order means the price has to go up to meet your fibo 100 when in fact your intention is to sell. You will be seeing a bull bar and to still believe it will come down to place a limit order.
  • #1,396
  • Nov 19, 2018 11:58pm Nov 19, 2018 11:58pm
Hello Guys,

So just my two cents on this

I have backtested visually a few charts and it seems that this strategy is really good. I have made the following modifications to the strategy however.

I have added a 40 EMA. I only trade a BUY if the 30 EMA is above the 40 EMA. Vice Versa for the Sell. I also am a bit more aggresive in terms of my entry.

I have added the following levels to my FIB.

So for a buy trade:

1) Check for engulfing bullish engulfing candles above 30 EMA.
2) Ensure 30 EMA is above 40 EMA or about to cross 40 EMA (This can also be done on the confirmation candle)
3) Check confirmation candle to ensure that it breaks the high of the bullish engulfing candle
4) Open close of correct confirmation candle enter a BUY Trade Immediately.
5) Place 1 x Buy Limit and 1 x Buy Stop - Buy Limit is @ 0.5 retracement of Engulfing Candle & Buy Stop is @ 1.25 of Engulfing Candle.
6) SL for all is at 13 pips below 0 retracement.
7) TP for Original Order is 2.5 Retracement, TP for Buy Limit is 2.0 Retracement and TP for Buy Stop is 3.0 Retracement.

What do you guys think? Currently in a few trades and in profit.
Attached Image
I am still a NOOB!!! Damn, there goes another 10 pips!
  • #1,397
  • Nov 20, 2018 12:03am Nov 20, 2018 12:03am
Quoting Icebot53
Hello Guys, So just my two cents on this I have backtested visually a few charts and it seems that this strategy is really good. I have made the following modifications to the strategy however. I have added a 40 EMA. I only trade a BUY if the 30 EMA is above the 40 EMA. Vice Versa for the Sell. I also am a bit more aggresive in terms of my entry. I have added the following levels to my FIB. So for a buy trade: 1) Check for engulfing bullish engulfing candles above 30 EMA. 2) Ensure 30 EMA is above 40 EMA or about to cross 40 EMA (This can...
Icebot53, this thread is now almost international as we have AFrican country as well. Thanks but I am lost on item 5 onwards. But you need not explain.
I am very interested in the ema40 which means the price must be above both ema 30 and 40 and enter after confirmed bar. I guess item 5 onwards is really optional.
  • #1,398
  • Nov 20, 2018 12:04am Nov 20, 2018 12:04am
Quoting josephkee
{quote} Vince Good trade. I also have NZUUSD buy still running. In fact I have two positions because I was presented with two EB on the same trend. I also have sell USDyen and sell USDSGD have already entered 2 USDYEN and 2 USDSGD as it presented to me yesterday and this morning along same trend. I also see that distance of price is far away from the ema slope which tells me I should be safe to enter. I see that most money is made as long as the trend continues and I should double up position as and when I am presented. BTW your usdcad, did I see...
How long have you tested the retracement to 100%? Can you show me an example? How many opportunities have you missed when it did not retrace all the way?
I am still a NOOB!!! Damn, there goes another 10 pips!
  • #1,399
  • Nov 20, 2018 12:11am Nov 20, 2018 12:11am
Quoting Icebot53
{quote} How long have you tested the retracement to 100%? Can you show me an example? How many opportunities have you missed when it did not retrace all the way?
Not sure if this is what you mean. anyway see the yellow arrow.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH41.png Size: 73 KB
  • #1,400
  • Nov 20, 2018 12:14am Nov 20, 2018 12:14am
Quoting josephkee
{quote} Icebot53, this thread is now almost international as we have AFrican country as well. Thanks but I am lost on item 5 onwards. But you need not explain. I am very interested in the ema40 which means the price must be above both ema 30 and 40 and enter after confirmed bar. I guess item 5 onwards is really optional.
Item 5 is just allowing for additional entries. I am quite an aggressive trader so I would open multiple positions on 1 engulfing candle depending on the retracement.

Another thing I would mention is the condition of the confirmation candle. Look at the attached chart. I am currently trading on demo as I have an account manager trading my live account until I can prove myself worthy.

You will see a bullish engulfing candle but the confirmation candle is bearish. However, the low of the bearish candle did not reach even the open of the Bullish candle and such long wicks/shadows to the upside on the bearish candle. This gives me an indication that even though the bears won that 4H fight, there is still a lot more momentum to the upside than to the downside. For this reason, I entered this trade.

I also attach a screenshot explaining what I mean with the momentum. The bulls actually won more than the bears in the confirmation candle, even though it finished bearish. This however, complicates the strategy, and I do not want to intrude and place my own perceptions on this, but I will defintely use it in my arsenal.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 147 KB
Click to Enlarge Name: Screenshot3.png Size: 85 KB
I am still a NOOB!!! Damn, there goes another 10 pips!
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