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Simple H4 Mobile Trading System

  • #1,561
  • Nov 25, 2018 11:57pm Nov 25, 2018 11:57pm
2018 Back tests so far for anyone thats interested
GBPNZD - 83 trades (64% win rate, 1493 pips total)
GBPUSD - 67 trades (70% win rate, 2075 pips total)
EURUSD - 68 trades (70% win rate, 1281 pips total)

My rules that were backtested...
-SL 5 pips above or below engulfing
-no trades taken if stop loss +100 pips
-1 position open at a time... didn't enter engulfing candles if a trade was already active.
-major s/r placed on Weekly chart.. didn't buy into resistance or sell into support.. pretty simple.
-engulfing must closes above/below 61.8 fib level, showing strength
All other rules same as original post.
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  • #1,562
  • Nov 26, 2018 12:21am Nov 26, 2018 12:21am
Quoting ranilo.vince
Monitoring NJ and NU closely for a possible buy trade
Hi new to this thread and really enjoying the content so far.
can I ask do you track certain pairs or just flick through at random.
  • #1,563
  • Nov 26, 2018 12:37am Nov 26, 2018 12:37am
Quoting Morris89
{quote} Hi new to this thread and really enjoying the content so far. can I ask do you track certain pairs or just flick through at random.
I track all Major and Minor pairs even Exotic pairs but only pairs with tight spreads... Oh and also Gold...
But also, my personal preference is I avoid GBP pairs as well, not wrong to trade them but for me I am staying away on this currency.
We're not here to be right, we're here to Profit Consistently!
  • #1,564
  • Nov 26, 2018 12:39am Nov 26, 2018 12:39am
Quoting ranilo.vince
{quote} I track all Major and Minor pairs even Exotic pairs but only pairs with tight spreads... Oh and also Gold... But also, my personal preference is I avoid GBP pairs as well, not wrong to trade them but for me I am staying away on this currency.
Ok that’s perfect, thank you.
yeah I am avoiding gbp pairs atm due to brexit talks seem to come out of nowhere.
  • #1,565
  • Nov 26, 2018 1:11am Nov 26, 2018 1:11am
Hit SL on my post. Will try again
  • #1,566
  • Nov 26, 2018 2:23am Nov 26, 2018 2:23am
Quoting fxlrich
2018 Back tests so far for anyone thats interested GBPNZD - 83 trades (64% win rate, 1493 pips total) GBPUSD - 67 trades (70% win rate, 2075 pips total) EURUSD - 68 trades (70% win rate, 1281 pips total) My rules that were backtested... -SL 5 pips above or below engulfing -no trades taken if stop loss +100 pips -1 position open at a time... didn't enter engulfing candles if a trade was already active. -major s/r placed on Weekly chart.. didn't buy into resistance or sell into support.. pretty simple. -engulfing must closes above/below 61.8 fib level,...
Oh, good to know. You said it was a backtest and mentioned that; 'did'nt enter enqulfing candles if trade was already active' Sounds like a live trade you did, like a forward test?
  • #1,567
  • Nov 26, 2018 2:23am Nov 26, 2018 2:23am
Quoting fxlrich
2018 Back tests so far for anyone thats interested GBPNZD - 83 trades (64% win rate, 1493 pips total) GBPUSD - 67 trades (70% win rate, 2075 pips total) EURUSD - 68 trades (70% win rate, 1281 pips total) My rules that were backtested... -SL 5 pips above or below engulfing -no trades taken if stop loss +100 pips -1 position open at a time... didn't enter engulfing candles if a trade was already active. -major s/r placed on Weekly chart.. didn't buy into resistance or sell into support.. pretty simple. -engulfing must closes above/below 61.8 fib level,...
fxlrich, good research. Have you tested the winrate for engulfing candles over 100 pips for GBPNZD. I ask because 100 pips is nothing for GBPNZD.
By the way, did you check for very small candles?

Paal
  • #1,568
  • Nov 26, 2018 2:29am Nov 26, 2018 2:29am
Was an awesome last week!

Thursdays very bad, but Friday was amazing!
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  • #1,569
  • Nov 26, 2018 2:41am Nov 26, 2018 2:41am
Great Start for Monday. Will go back later on NY session if there's something interesting. Will relax and take a break for now..

My posiions, long EUR, AUD and NZD...Switched my bias on NZD from previous short to long..
Closed Gold manually too..

Closed all trades before EUR news...
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We're not here to be right, we're here to Profit Consistently!
  • #1,570
  • Nov 26, 2018 3:49am Nov 26, 2018 3:49am
Quoting timidave
{quote} Oh, good to know. You said it was a backtest and mentioned that; 'did'nt enter enqulfing candles if trade was already active' Sounds like a live trade you did, like a forward test?
No nothing to do with my live trades, all that means is when i was back testing and came across a trade, i would enter it and then not enter another trade on the same pair until the current trade i was testing either hit TP or SL, even if there was another valid engulfing bar setup, i would not take it if i was already in the process of waiting for a trade to reach one of those levels. hope that made sense.
  • #1,571
  • Nov 26, 2018 3:53am Nov 26, 2018 3:53am
Quoting kirinda
{quote} fxlrich, good research. Have you tested the winrate for engulfing candles over 100 pips for GBPNZD. I ask because 100 pips is nothing for GBPNZD. By the way, did you check for very small candles? Paal
no i did not test candles over 100 pips, but i know there are some trades with 100+ pip SL that would have hit TP in back testing. i agree 100 pips is quite small for gbpnzd but not within my risk tolerance at this point. and yes i took all engulfing bars even small ones if they closed with strength (above/below the 61.8 fib)
  • #1,572
  • Nov 26, 2018 4:14am Nov 26, 2018 4:14am
Quoting fxlrich
2018 Back tests so far for anyone thats interested GBPNZD - 83 trades (64% win rate, 1493 pips total) GBPUSD - 67 trades (70% win rate, 2075 pips total) EURUSD - 68 trades (70% win rate, 1281 pips total) My rules that were backtested... -SL 5 pips above or below engulfing -no trades taken if stop loss +100 pips -1 position open at a time... didn't enter engulfing candles if a trade was already active. -major s/r placed on Weekly chart.. didn't buy into resistance or sell into support.. pretty simple. -engulfing must closes above/below 61.8 fib level,...
Thank you so much for your research!!
Did you use the "Shift SL to 1 when hit 1.5" rule?
  • #1,573
  • Nov 26, 2018 4:36am Nov 26, 2018 4:36am
Quoting fxlrich
2018 Back tests so far for anyone thats interested GBPNZD - 83 trades (64% win rate, 1493 pips total) GBPUSD - 67 trades (70% win rate, 2075 pips total) EURUSD - 68 trades (70% win rate, 1281 pips total) My rules that were backtested... -SL 5 pips above or below engulfing -no trades taken if stop loss +100 pips -1 position open at a time... didn't enter engulfing candles if a trade was already active. -major s/r placed on Weekly chart.. didn't buy into resistance or sell into support.. pretty simple. -engulfing must closes above/below 61.8 fib level,...
Sounds like a solid plan.
Anything above the line is an uptrend, below the line is a downtrend.
  • #1,574
  • Nov 26, 2018 5:06am Nov 26, 2018 5:06am
Quoting mygov
{quote} 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.
This explains a lot.
I am UK-based, so my 4-hour bars are out of synch with yours.
So, the 4-hours are 2am-6am, 6am-10am, 10am-2pm, 2pm-6pm, etc?

Looking at it at a deeper level, the profitability is an artifact of the trading sessions, maybe?
Good trading, nonetheless.
  • #1,575
  • Nov 26, 2018 5:30am Nov 26, 2018 5:30am
Quoting fxlrich
{quote} No nothing to do with my live trades, all that means is when i was back testing and came across a trade, i would enter it and then not enter another trade on the same pair until the current trade i was testing either hit TP or SL, even if there was another valid engulfing bar setup, i would not take it if i was already in the process of waiting for a trade to reach one of those levels. hope that made sense.
Yes, i understand you now. Thanks
  • #1,576
  • Nov 26, 2018 6:14am Nov 26, 2018 6:14am
Hi All,

i have read this thread with lot of interest because i have been using a decent similar strategy for quite long time:

Daily: EMA 9
Weekly: EMA 21

Trading Plan during weekends across all pairs:

1. Checking all pairs weekly TF to see where price is: up or down the EMA?
2. Check what is last valid candlestick pattern on Weekly, doesn't matter if i have a short enfulfing above the EMA i just take note.
3. Go down to Daily and take a trade each time price create a candlestick pattern on EMA 9 based on my weekly trading plan.

This was a decente one, issue was trade management, several times i couldn't hit nor RR 1:1.


This strategy here looks similar, easier but also doesn't solve the problem of RR at least 1:1 but the management here is quite decent by shifting SL at 1.

Another comment: i noticed here many traders trade engulfing which are not real engulfing.
Please note that an engulfing candle is a candle that ENGULF the whole body of previous candle which doesn't occur very often.

Also i saw traders taking many traders every day: how is possible in H4 TF?
Real engulfing candles in H4 are not many..there could be even days without trading.

Thank you
  • #1,577
  • Nov 26, 2018 6:17am Nov 26, 2018 6:17am
Quoting fxlrich
2018 Back tests so far for anyone thats interested GBPNZD - 83 trades (64% win rate, 1493 pips total) GBPUSD - 67 trades (70% win rate, 2075 pips total) EURUSD - 68 trades (70% win rate, 1281 pips total) My rules that were backtested... -SL 5 pips above or below engulfing -no trades taken if stop loss +100 pips -1 position open at a time... didn't enter engulfing candles if a trade was already active. -major s/r placed on Weekly chart.. didn't buy into resistance or sell into support.. pretty simple. -engulfing must closes above/below 61.8 fib level,...

very good, like this approach..i would add an oscillator..any...to check if there is divergence to avoid potential reversal
  • #1,578
  • Nov 26, 2018 6:30am Nov 26, 2018 6:30am
Hey guys, are you still trading this strategy? i started today, since it is similar to what i have been doing lately.
Hope you are all having good results, cheers.
  • #1,579
  • Nov 26, 2018 6:48am Nov 26, 2018 6:48am
Quoting cyberecoder
{image} {image} Hi Everyone, I couldn't resist simplicity of this idea, which is very EA friendly. I wrote an EA for who don't want to watch the screens. It took me 20 day cause I m an amateur programmer... Anyway thank you for your brilliant idea: Owner of the thread! Here my 8 month test which has very precise tickdata used from swiss bank sourced data provider. It is promising but EA is not fully ready to use on Real Account. I hope you don't mind I am sharing it in here, I thought to open new thread but trading method is not mine so it would...
Just another observation, when breakeven function triggers, it does'nt cover spreads or commission. SO, perhaps you could adjust the programming so it could, otherwise the breakeven would always leave a small loss behind
  • #1,580
  • Nov 26, 2018 11:00am Nov 26, 2018 11:00am
Quoting fxlrich
2018 Back tests so far for anyone thats interested GBPNZD - 83 trades (64% win rate, 1493 pips total) GBPUSD - 67 trades (70% win rate, 2075 pips total) EURUSD - 68 trades (70% win rate, 1281 pips total) My rules that were backtested... -SL 5 pips above or below engulfing -no trades taken if stop loss +100 pips -1 position open at a time... didn't enter engulfing candles if a trade was already active. -major s/r placed on Weekly chart.. didn't buy into resistance or sell into support.. pretty simple. -engulfing must closes above/below 61.8 fib level,...
Hey ! thx for sharing...was the Backtest made on daily or 4h?

thanks
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