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Simple H4 Mobile Trading System

  • #1,841
  • Dec 20, 2018 9:16pm Dec 20, 2018 9:16pm
Hello To EVERYONE here....

I have an observation while trading this system for a while.. Kindly check if you will agree or not and do your own back testing if needed...

I found out that we can get more winning trades if we have an entry using Outside Vertical bar compared to just an engulfing bar...



additional reference for those who are curious about the difference of the two:
https://forums.babypips.com/t/whats-...ide-bar/152511
We're not here to be right, we're here to Profit Consistently!
  • #1,842
  • Dec 21, 2018 12:21am Dec 21, 2018 12:21am
Quoting ranilo.vince
Hello To EVERYONE here.... I have an observation while trading this system for a while.. Kindly check if you will agree or not and do your own back testing if needed... I found out that we can get more winning trades if we have an entry using Outside Vertical bar compared to just an engulfing bar... additional reference for those who are curious about the difference of the two: https://forums.babypips.com/t/whats-...ide-bar/152511
ok got the difference between the two though I worked only on outside bar according to your definition but my personal experience agree to your point that is if the second candle fulfills both conditions it usually is stronger signal and tp of even 200 fib also hit
  • #1,843
  • Dec 21, 2018 3:13am Dec 21, 2018 3:13am
Yes. I choose formations with Open and Close engulfing the previous Open and Close. And also High and Low engulfing the previous High and Low.
  • #1,844
  • Dec 21, 2018 4:14am Dec 21, 2018 4:14am
Quoting MzansiObi
Possible setup on AUDJPY. Have pending order in play. Tighter SL though.
EURUSD setup has also presented itself now.
With all the volatility will ltighten SL again


Stay green
4&1 All Time Profit: $37,496
  • #1,845
  • Dec 21, 2018 12:22pm Dec 21, 2018 12:22pm
Quoting MzansiObi
{quote} EURUSD setup has also presented itself now. With all the volatility will ltighten SL again Stay green
8 hours later setup has yielded!



Have closed half position SL moved to BE+4


Stay green
4&1 All Time Profit: $37,496
  • #1,846
  • Dec 21, 2018 1:12pm Dec 21, 2018 1:12pm
Quoting jomni
Yes. I choose formations with Open and Close engulfing the previous Open and Close. And also High and Low engulfing the previous High and Low.
Hello Jomni

Do you mean you only take trade when both conditions are met in the same formation, or you take either?
Also, are you selective with the price action that preceded the engulfing bar, for example, engulfing bar is bullish but previous bar is also bullish, or you only take engulfing structures where prior bar is opposite price action?

Thank you
  • #1,847
  • Dec 22, 2018 6:26am Dec 22, 2018 6:26am
I love this method on the daily charts, more than 300 pips in 2 days, if you add my unclosed trade. I will keep you guys posted with my result on the daily. I have already backtested it and discovered its'the simplest and most profitable.
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  • #1,848
  • Dec 22, 2018 12:46pm Dec 22, 2018 12:46pm
Quoting timidave
I love this method on the daily charts, more than 300 pips in 2 days, if you add my unclosed trade. I will keep you guys posted with my result on the daily. I have already backtested it and discovered its'the simplest and most profitable. {image} {image}
Excellent Work Tim!!! Glad you came up with great results as well..

One of my analysis too using all rules on this thread but on the Daily Chart... https://www.tradingview.com/chart/AU...ort-on-AUDUSD/

This is also my plan include Daily timeframe together with 4H..

So, everyday, after an hour or two of NY close, I start analysis of Daily candle and look for possible plays. Then proceed on separate trade analysis for 4H timeframes as well but all trades still having 1% risk only.
We're not here to be right, we're here to Profit Consistently!
  • #1,849
  • Dec 22, 2018 2:28pm Dec 22, 2018 2:28pm
hi, how you trade the engulfing trades, timidave?
  • #1,850
  • Dec 23, 2018 10:14am Dec 23, 2018 10:14am
Hello to everyone

Thanks Hzs10 for sharing your system and all traders posting their results.

I've manually back-tested all 28 pairs on the 4hr chart for the period April - August 2018.
I attach the results.

 

  1. I traded exactly as per Hzs10's rules, taking every signal, like a robot. If it didn't hit fib 200, i counted it as a loss.
  2. A surprising number of long-tailed and oversized candles were winners, even if it took days.
  3. The most significant observation from this backtest: if EMA is flat and previous 7 or so candles crossed it or touched it, it's not a good idea to take the trade, even if the candles closes above or below EMA. That said, there were winners during flat EMA periods, and losers during trending periods. Most often, losers during trending periods were due to SL too close, and then price continued in trend direction.

Out of 978 trades over the 28 pairs, 600 were winners.

I am now continuing the test on the highest-yielding and lowest-yielding pairs to see if this is a trend, or if the results are really just random. Three pairs yielded a breakeven result (winners equal to losers). NZDCHF had a staggering 30 wins and just 5 losses. Not one pair yielded a negative result.

Thank you and happy trading.

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  • #1,851
  • Dec 23, 2018 3:20pm Dec 23, 2018 3:20pm
Hi Helbor
nice job, I have done this for most daily pairs and had similar results, whereas NZD pairs are really strong % winners.

Good luck with your testing, everyone should have done this.
  • #1,852
  • Dec 23, 2018 3:24pm Dec 23, 2018 3:24pm
Quoting cfudge
These results (for those who didn't read the journal thread) are opened at the high/low of engulfing candle and TP is 150 fib. Daily charts Here is an updated list ( I would suggest trading with pairs 65% or more) 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. XAUUSD 76% over 21 trades in 3 years EURGPB 75% over 35 trades in 4 years GBPUSD 50% over 24...
Here is the quote from my test results on daily, if interested.
  • #1,853
  • Dec 23, 2018 6:37pm Dec 23, 2018 6:37pm
Quoting cfudge
These results (for those who didn't read the journal thread) are opened at the high/low of engulfing candle and TP is 150 fib. Daily charts Here is an updated list ( I would suggest trading with pairs 65% or more) 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. XAUUSD 76% over 21 trades in 3 years EURGPB 75% over 35 trades in 4 years GBPUSD 50% over 24...
Many many thanks for this backtest results. I'm actually just seeing it
  • #1,854
  • Dec 23, 2018 6:54pm Dec 23, 2018 6:54pm
Quoting ranilo.vince
{quote} Excellent Work Tim!!! Glad you came up with great results as well.. One of my analysis too using all rules on this thread but on the Daily Chart... https://www.tradingview.com/chart/AU...ort-on-AUDUSD/ This is also my plan include Daily timeframe together with 4H.. So, everyday, after an hour or two of NY close, I start analysis of Daily candle and look for possible plays. Then proceed on separate trade analysis for 4H timeframes as well but all trades still having 1% risk only.
Great!!!
  • #1,855
  • Dec 23, 2018 10:28pm Dec 23, 2018 10:28pm
Quoting cfudge
{quote} Here is the quote from my test results on daily, if interested.
Hello cfudge

Yes it was your backtest that inspired me to test the 4hr
There are two differences however in how we tested:

1. i open the trade at the open of next candle, you open at high/low of signal candle
2. TP is 200 for me, else i worry the R:R is skewed

I am interested to know, is this how you trade this method on the Daily chart? Enter at high/low of signal candle and TP at fib 150?
  • #1,856
  • Dec 23, 2018 11:16pm Dec 23, 2018 11:16pm
I take this, according the rule, but usually I just use the fibo 0,382 and 0,5 to open order to minimize the stop loss. I use the engulf candle as resistance and support. The target is always 1,618 and then 2,618 but we must be saw the engulf candle before, is it already take the 2,618 fibo point.
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  • #1,857
  • Dec 23, 2018 11:52pm Dec 23, 2018 11:52pm
I am interested to know, is this how you trade this method on the Daily chart? Enter at high/low of signal candle and TP at fib 150?


Yes this is exactly what I do. I am profitable so far but still not enough trades to be certain in the long run.

Chris
  • #1,858
  • Dec 24, 2018 1:10am Dec 24, 2018 1:10am
Quoting cfudge
I am interested to know, is this how you trade this method on the Daily chart? Enter at high/low of signal candle and TP at fib 150? Yes this is exactly what I do. I am profitable so far but still not enough trades to be certain in the long run. Chris
My idea here is to determine stop loss then calculate lot size by 1% risk only. Then I split the orders into two. 1st order target is 150 fib then second order is 200 fib. Once 150 fib gets hit, move SL to BE of the remaining order and let it hit 200 fib.
We're not here to be right, we're here to Profit Consistently!
  • #1,859
  • Dec 24, 2018 3:42am Dec 24, 2018 3:42am
Quoting ranilo.vince
{quote} My idea here is to determine stop loss then calculate lot size by 1% risk only. Then I split the orders into two. 1st order target is 150 fib then second order is 200 fib. Once 150 fib gets hit, move SL to BE of the remaining order and let it hit 200 fib.
Hello Vince

SL = high/low of signal candle (so mostly it's a pending order)
TP1 = fib 150
TP2 = fib 200 and beyond
Each order = 0.5% risk

Correct yes/no?
  • #1,860
  • Dec 24, 2018 7:36am Dec 24, 2018 7:36am
Quoting Ausitrader
Hello hzs10. While I have had good success during the last 2 weeks of testing, I am a bit confused regarding the posts relating to moving SL to BE. I do not see any mention of this in your post # 2. Please could you confirm that your strategy uses moving SL to BE at FIB 150? Thanks in advance for clarifying. {quote}
SL move to 100.0 when PA reach 150
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