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Simple H4 Mobile Trading System

  • #1,541
  • Nov 23, 2018 9:44pm Nov 23, 2018 9:44pm
I also have running trades going to the weekend.
EURCHF just hit TP before market closes...
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We're not here to be right, we're here to Profit Consistently!
  • #1,542
  • Nov 23, 2018 9:46pm Nov 23, 2018 9:46pm
My one week results. From Nov 19 to Nov 23..
Not that big but still this strategy works really...
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We're not here to be right, we're here to Profit Consistently!
  • #1,543
  • Nov 24, 2018 12:51am Nov 24, 2018 12:51am
2 Questions for “cfudge” whom I know reads this thread and trades this system but using daily candles:

1. To increase your risk/reward ratio, have you experimented with setting an alarm when price hits 100%fib, then setting a pending limit buy/sell order at 90%fib (i.e. a 10% retrace)? — if yes, the spread can be ignored, and question #2 below becomes irrelevant.

———

(please refer to what I’ve circled/underlined in RED) in the pic below for question #2

2. When you set pending orders at high/low of engulfing candle, do you account for the spread?
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A snails pace wins the race :-)
  • #1,544
  • Nov 24, 2018 6:12am Nov 24, 2018 6:12am
Quoting cyberecoder
{quote} Profit factor is how much will TP be compared to whole engulfing candle. 1 means it will get same amount pips engulfing candle size. BEfactor is Breakeven point EA will modify orders. 0.5 means (0.5 * whole candle )+ low for buy orders. It is as described as in first orders. It means when price go above(buy) or below(sell) 1.5 times candle size it will move SL to Breakeven. I already included candle size in code, so you only need half to add orderopenprice if you want strictly follow first rules. But you are free to change how ever you want...
I've loaded your EA on my VPS on 28 pairs with default settings.

Do I have to change the magic number on each chart or can I leave it?
Anything above the line is an uptrend, below the line is a downtrend.
  • #1,545
  • Nov 24, 2018 7:28am Nov 24, 2018 7:28am
Quoting Degolep
{quote} I've loaded your EA on my VPS on 28 pairs with default settings. Do I have to change the magic number on each chart or can I leave it?
No need to change magic number since its checks symbols too. But I don't recommend putting to 28 pairs because most of them are give similar signal at same time. This creates a big risk on account. I think major pairs are enough. I will post an updated version I am working on now.
  • #1,546
  • Edited 8:46am Nov 24, 2018 8:16am | Edited 8:46am
Quoting cyberecoder
{quote} It is not bug free yet. And need to add lots of options like mm , trailing stop or so... I will work on it more to make it perfect.
Alright, good to know. The stop loss may be too tight too, there should be some 'breathing space', else price could still hit our stop loss and still go in our direction. I'm running the EA now on vps
  • #1,547
  • Nov 24, 2018 9:49am Nov 24, 2018 9:49am
Quoting timidave
{quote} Alright, good to know. The stop loss may be too tight too, there should be some 'breathing space', else price could still hit our stop loss and still go in our direction. I'm running the EA now on vps
Just a tip bro and also to everyone else here..

Setting a stop loss should not be fixed on the number of pips but one should look for an area where they should place a stop loss where once the price reached on that location, it will invalidate their trades already.

So Timidave is correct. We should put a breathing space for our stop loss..
We're not here to be right, we're here to Profit Consistently!
  • #1,548
  • Nov 24, 2018 7:00pm Nov 24, 2018 7:00pm
Like ranilo.vince & Trinquete have pointed out, this strategy works much better if used with price action. I believe a set EA losses over long term on multiple pairs without the use of discretionary price action and optimized entry/stop.

But, I wouldn't write off an EA totally, you might be able to filter some trades out with and additional indicator.
  • #1,549
  • Nov 24, 2018 9:40pm Nov 24, 2018 9:40pm
Quoting cyberecoder
{quote} It is not bug free yet. And need to add lots of options like mm , trailing stop or so... I will work on it more to make it perfect.
Is your backtest on 30 minutes or 4 hour charts?
  • #1,550
  • Nov 24, 2018 11:07pm Nov 24, 2018 11:07pm
Quoting rubion
{quote} Is your backtest on 30 minutes or 4 hour charts?
It is 4H chart
  • #1,551
  • Nov 24, 2018 11:09pm Nov 24, 2018 11:09pm
Quoting timidave
{quote} Alright, good to know. The stop loss may be too tight too, there should be some 'breathing space', else price could still hit our stop loss and still go in our direction. I'm running the EA now on vps
Stoploss is not tight , sometimes it reaches over 100 pips.
  • #1,552
  • Nov 25, 2018 2:17pm Nov 25, 2018 2:17pm
Do I understand right that
Every one of us see different H4 candles because of different brokers DST?
Just an opinion. Based on research
  • #1,553
  • Nov 25, 2018 2:37pm Nov 25, 2018 2:37pm
Quoting since80808
Do I understand right that Every one of us see different H4 candles because of different brokers DST?
Yes, brokers use a variety of timezones. This strategy is working better on GMT +2 offset brokers.
I found an Indicator to timeshift the H4 chart (create a H4 chart based on H1 with timeshift) https://www.forexfactory.com/showthread.php?t=206301
Unfortunately the period converter is not so optimal because you need to create an offline chart for every pair you want to observe and you need to keep the source chart (H1) open. But is is a workaround if you don't want to switch the broker.
  • #1,554
  • Nov 25, 2018 3:04pm Nov 25, 2018 3:04pm
Anyone seen success on lower time frames like 1 or 2 hour?
  • #1,555
  • Nov 25, 2018 5:14pm Nov 25, 2018 5:14pm
Quoting cyberecoder
{quote} Stoploss is not tight , sometimes it reaches over 100 pips.
My definition of 'tight' is based on how close it is to the previous high or low of the candle that determines it. Allowing a space of 5 -10 pips relative to the candles high or low may be fine.
  • #1,556
  • Nov 25, 2018 6:38pm Nov 25, 2018 6:38pm
Quoting cyberecoder
{quote} Profit factor is how much will TP be compared to whole engulfing candle. 1 means it will get same amount pips engulfing candle size. BEfactor is Breakeven point EA will modify orders. 0.5 means (0.5 * whole candle )+ low for buy orders. It is as described as in first orders. It means when price go above(buy) or below(sell) 1.5 times candle size it will move SL to Breakeven. I already included candle size in code, so you only need half to add orderopenprice if you want strictly follow first rules. But you are free to change how ever you want...
how this EA work? based on engulfing candle on body only or the wick also?
because it open pending order and i dont see any engulfing candle..
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Okay... sorry about my messed up English Tenses
  • #1,557
  • Nov 25, 2018 8:06pm Nov 25, 2018 8:06pm
Good morning everyone!

Early Monday session TP hit for Friday's trade on NJ and NU.

Still have EU and Gold shorts running..
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We're not here to be right, we're here to Profit Consistently!
  • #1,558
  • Nov 25, 2018 8:47pm Nov 25, 2018 8:47pm
Got this, anyone??
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  • #1,559
  • Nov 25, 2018 10:40pm Nov 25, 2018 10:40pm
Quoting adrilyss
Got this, anyone?? {image}
Good catch!
We're not here to be right, we're here to Profit Consistently!
  • #1,560
  • Nov 25, 2018 11:26pm Nov 25, 2018 11:26pm
Monitoring NJ and NU closely for a possible buy trade
We're not here to be right, we're here to Profit Consistently!
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