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Simple H4 Mobile Trading System

  • #1,941
  • Jan 11, 2019 1:48am Jan 11, 2019 1:48am
Quoting Ivanyo
Just some results since starting this method - rules are simple; Long if engulfing above 30 EMA, short if engulfing below 30 EMA Move SL to 100 (break even) when price action has moved to 150 fib level. Hold until TP or SL. Check candles every 4 hours. Results might be even better if I risked same amount on each trade but right now I am testing with fixed lot size like OP {image}
Good results. Thanks for sharing!
  • #1,942
  • Jan 11, 2019 6:26am Jan 11, 2019 6:26am
Hello
I have a few questions. Do you leave your position for the weekend and do you also open new positions on Friday evening? Are you checking the calendar ?
  • #1,943
  • Jan 11, 2019 1:51pm Jan 11, 2019 1:51pm
Quoting Maggnat
Hello I have a few questions. Do you leave your position for the weekend and do you also open new positions on Friday evening? Are you checking the calendar ?
https://www.forexfactory.com/showthr...8#post11575828
  • #1,944
  • Jan 12, 2019 7:10am Jan 12, 2019 7:10am
Quoting Ivanyo
EURAUD {image}
Update - TP
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 95 KB
  • #1,945
  • Jan 12, 2019 7:29am Jan 12, 2019 7:29am
Quoting Ivanyo
{quote} Update - TP {image}
I was knocked out by the breakeven
Attached Image (click to enlarge)
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  • #1,946
  • Jan 12, 2019 2:20pm Jan 12, 2019 2:20pm
Quoting helbor
{quote} Hello Syedtaimur Yes. I move the SL of the 2nd position to BE (Fib100), only once position #1 reaches its TP level of fib150. Like this: 1. Open 2 x positions, each risking 2% 2. When position #1 reaches Fib150, it closes, and banks 1% of capital. 3. Now position #2 is risk-free, and you can ride the trend, or TP at fib200, this banks a further 2%. 4. For the backtest i made all my 2nd positions TP at fib200. Trading like this real-time would be a very different story however. If we take every 4hr signal across 28 pairs, it may mean we sometimes...
Hi Helbor

I have run a simple backtest in Amibroker however my returns are different to you - in the region of 25% winners and 75 losers for E/U with a date range of 11th of May 2018 until 4th of Jan 2019.

In your backtest how do you define your engulfing candle ? I have tried the following (the Ref -1 refers to the previous H/O/L/C:

BullEB = Ref(C,-1) < Ref(O,-1) AND C > O AND O <=Ref(C,-1) AND C > Ref(O,-1);
BUOVB = L < Ref(L,-1) AND H > Ref(H,-1) AND C > Ref(O,-1) AND O < C AND Ref(O,-1) > Ref(C,-1);

Thanks
  • #1,947
  • Jan 12, 2019 2:50pm Jan 12, 2019 2:50pm
Quoting Cirakacima
{quote} I was knocked out by the breakeven {image}
Break even is better than a loss!

For me, it depends if I am around a computer to check my trades. If I am, I would've probably also got knocked out at BE, but since I was not, this trade I just let go to TP or SL.
  • #1,948
  • Jan 13, 2019 5:41am Jan 13, 2019 5:41am
Before the New Year I tried a similar strategy. But she is on a daily timeframe. Decided other options to stop on H4. And yesterday came across this topic. Very interesting. I still get these conditions:
1. H4
2. no indicators
3. buy signal - a closed candle is green (bullish), but an important point, the previous red (bearish) ones should be at least two ... Similarly, for sale
4. We work with a pending order. Buy 5 points above the previous high. Stop loss 10 pips below the previous low. Thai Profit Fibo 150.
5. If the order did not work before the candle closes, delete it and wait for the next signal.
So far, raw strategy. He wrote in Russian translated Google, so sorry for the clumsy English)))
  • #1,949
  • Jan 13, 2019 6:37am Jan 13, 2019 6:37am
Quoting TheMonk
{quote} Hi Helbor I have run a simple backtest in Amibroker however my returns are different to you - in the region of 25% winners and 75 losers for E/U with a date range of 11th of May 2018 until 4th of Jan 2019. In your backtest how do you define your engulfing candle ? I have tried the following (the Ref -1 refers to the previous H/O/L/C: BullEB = Ref(C,-1) < Ref(O,-1) AND C > O AND O <=Ref(C,-1) AND C > Ref(O,-1); BUOVB = L < Ref(L,-1) AND H > Ref(H,-1) AND C > Ref(O,-1) AND O < C AND Ref(O,-1) > Ref(C,-1); Thanks
Hi Monk

Interesting result

  1. My definition is as per Hsz10's strategy: high/low exceeds high/low of previous candle (strictly called an outside bar).
  2. I tested all 28 pairs manually for the period April - end July 2018
  3. The result for EURUSD according to this test: 38 trades, 15 x losers, 23 x winners but keep in mind this is only for the months Apr + May + June + July.
  4. My test results for all 28 pairs are in post #1 851 https://www.forexfactory.com/showthr...7#post11819937
  5. I am in the process of testing the period Aug - Dec, it's laborious.
  6. It is entirely possible to have 7 - 8 losses in a row.
  7. Taking every signal would not be a good idea, specially not during periods when MA is flat.
  8. Lately i've tested with a split position approach, TP at 150 for position #1 and letting #2 run to maximise R:R, it's even more laborious
  9. Conclusively, i would follow this approach with discretion, like Hsz10 mentions in her first posts.
  10. Often, a classic body engulfer gives a signal, but because the high/low doesn't exceed the previous bar, and we miss an entire move. We then take a signal too near the top or bottom of a move and it results in a loss.
  11. Most often, losses are due to SL being hit but then price moves in our direction anyway.

  • #1,950
  • Jan 13, 2019 10:20am Jan 13, 2019 10:20am
I would like to know where the entire rules are written in this strategy please ?

> Is it used only on H4 ?

> How can one monitor several assets at the same time without a specific indicator that match all the necessary criterias ?

> Do the traders watching for these engulfing patterns use an extensive Pattern recognition indicator for MT4 ?
The Steve Nison one recognise 28 patterns but did not find it...do you have another solution ?

Thanks.
  • #1,951
  • Jan 13, 2019 11:26am Jan 13, 2019 11:26am
@ The Monk

Attached Image
  • #1,952
  • Jan 13, 2019 11:56am Jan 13, 2019 11:56am
Quoting lifespirit
I would like to know where the entire rules are written in this strategy please ? > Is it used only on H4 ? > How can one monitor several assets at the same time without a specific indicator that match all the necessary criterias ? > Do the traders watching for these engulfing patterns use an extensive Pattern recognition indicator for MT4 ? The Steve Nison one recognise 28 patterns but did not find it...do you have another solution ? Thanks.

See post 1
  • #1,953
  • Jan 14, 2019 12:46am Jan 14, 2019 12:46am
Quoting cfudge
@ The Monk {image}
Chris Thanks for that - i will let you know the backtest results - I owe you a beer (or 3!)
  • #1,954
  • Jan 14, 2019 4:15am Jan 14, 2019 4:15am
EURCAD and EURUSD has setups
  • #1,955
  • Jan 14, 2019 5:00am Jan 14, 2019 5:00am
Quoting Ivanyo
EURCAD and EURUSD has setups
Did you open a position on both pairs or just one?
  • #1,956
  • Jan 14, 2019 8:11am Jan 14, 2019 8:11am
Quoting Maggnat
{quote} Did you open a position on both pairs or just one?
Both
  • #1,957
  • Edited 10:51am Jan 14, 2019 8:35am | Edited 10:51am
I have eurcad, we'll see how it ends
  • #1,958
  • Edited 7:35pm Jan 14, 2019 7:18pm | Edited 7:35pm
Looks like a large number of potential setups in the candle that's about to close in 40 min - keep your eyes peeled!!!!

UPDATE
Quoting Ivanyo
EURCAD and EURUSD has setups
EURUSD stopped out, can't win them all I guess...EURCAD also currently at an unrealized loss but I will let the system play out and leave it to TP or SL.
  • #1,959
  • Jan 15, 2019 12:06am Jan 15, 2019 12:06am
previous 4h candle ej is a bullish engulfing bar isn't it?
LUCKY golden trades, LUCKY gold investor trading style
  • #1,960
  • Jan 15, 2019 3:37am Jan 15, 2019 3:37am
Quoting fx4money
previous 4h candle ej is a bullish engulfing bar isn't it?
if you are referring to this one, then yes

problem is that it's not clearly above or below 30ema so no trade
Attached Image
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