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H4 Mobile Trading Simple Strategy 111 replies

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Simple H4 Mobile Trading System

  • #2,201
  • Jan 31, 2019 10:40am Jan 31, 2019 10:40am
Quoting IanOld
Hi All Great Forum I have a trade running NZDJPY 4h I am not sure how to take profit, should I close at target 100 or wait to target 200. What about Breakeven? I am sure you are all experienced trader, so apologies if I should know this. Hope you can help. Ian {image}

TP is up to you - 150% or 200%

SL is moved to BE when price gets to 150% level.

I think the rules for setting TP/SL are in the first few posts
  • #2,202
  • Jan 31, 2019 10:49am Jan 31, 2019 10:49am
That is very helpful. Many thanks
  • #2,203
  • Jan 31, 2019 12:25pm Jan 31, 2019 12:25pm
Quoting Brian214
{quote} Hi Chris, In your extensive backtest on dailies I just have a question to clarify something for me please. If you get an 65% win rate on an R:R of 1:0.5 obviously that is only break even so I presume you don't mean 65% as I am understanding it. I have tried it now but just for two weeks, too small a sample I know, but so far win rate 5 wins to 1 loss. Look forward to your reply, Brian.
Hi Brian214

I tested with a take profit of 150 fib, and did the calculation between wins divided by total trades and traded only pairs where the result was 65% or higher.

You are saying a much higher win rate would be needed to achieve profitable results?

Would you be so kind as to show the math on this please.
Is it 65%*.05=32.5 and 35%*1=35
So we need somewhere around 68%?

Chris
  • #2,204
  • Feb 1, 2019 4:15am Feb 1, 2019 4:15am
how to deal with these GIANT candles??????? its a valid signal engulfing candle but its too big 135 pips
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  • #2,205
  • Feb 1, 2019 4:25am Feb 1, 2019 4:25am
Quoting syedtaimur
how to deal with these GIANT candles??????? its a valid signal engulfing candle but its too big 135 pips {image}
Just use less leverage - go for it. Faint heart never won fair maiden.
Gone to a better place
  • #2,206
  • Feb 1, 2019 4:44am Feb 1, 2019 4:44am
Quoting smikester
{quote} Just use less leverage - go for it. Faint heart never won fair maiden.
i took all trades of GBP and other pairs where form valid engulfing candles lets see how it goes all
  • #2,207
  • Feb 1, 2019 5:23am Feb 1, 2019 5:23am
Quoting syedtaimur
how to deal with these GIANT candles??????? its a valid signal engulfing candle but its too big 135 pips {image}

You can wait for retracement or trade smaller lot size
  • #2,208
  • Feb 1, 2019 5:37am Feb 1, 2019 5:37am
Quoting syedtaimur
how to deal with these GIANT candles??????? its a valid signal engulfing candle but its too big 135 pips {image}
Enter on 61.8 fib retracement, best option. Or go with 50%, all up to you..
We're not here to be right, we're here to Profit Consistently!
  • #2,209
  • Feb 1, 2019 5:56am Feb 1, 2019 5:56am
Updates

Jan has a total increment of 14.7% in profit. Nothing changes, follow everything stated in post #2.

Traditional information always teach management %risk. However i would like to say if you are in the learning process or testing a strategy, sticking to a fixed lot size can train your discipline and and trading psychology. If you cant afford to lose the amount you risk, trade the smallest lot size 0.01 for a period.

I have traded 0.1 lot size for the 5th month and see a constant result of profit in, and i dont increase when i see a good profit in. Reason you dont when when the market will turn against you.

Stay green pips
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  • #2,210
  • Feb 1, 2019 6:14am Feb 1, 2019 6:14am
Quoting cfudge
{quote} Hi Brian214 I tested with a take profit of 150 fib, and did the calculation between wins divided by total trades and traded only pairs where the result was 65% or higher. You are saying a much higher win rate would be needed to achieve profitable results? Would you be so kind as to show the math on this please. Is it 65%*.05=32.5 and 35%*1=35 So we need somewhere around 68%? Chris
Hi Chris,
Thanks for coming back. Yes I was simply saying if you win 5 dollars 65% of the time and you loose 10 dollars 35% of the time obviously you are going nowhere with that. Even 68% would make it very marginal. Maybe I have misinterpreted what you are saying do you mean that for every 65 euros you win you also loose 35 euros obviously that would be much better.
So far the strategy looks much more positive to me but I am long enough trading to know a small sample is quiet meaningless which is why I was interested in your backtest.
Brian.
  • #2,211
  • Feb 1, 2019 6:16am Feb 1, 2019 6:16am
Quoting hzs10
Updates Jan has a total increment of 14.7% in profit. Nothing changes, follow everything stated in post #2. Traditional information always teach management %risk. However i would like to say if you are in the learning process or testing a strategy, sticking to a fixed lot size can train your discipline and and trading psychology. If you cant afford to lose the amount you risk, trade the smallest lot size 0.01 for a period. I have traded 0.1 lot size for the 5th month and see a constant result of profit in, and i dont increase when i see a good profit...
WOW, congratulations now u r in those 5% people who are successful in forex market
  • #2,212
  • Feb 1, 2019 7:22am Feb 1, 2019 7:22am
Quoting hzs10
Updates Jan has a total increment of 14.7% in profit. Nothing changes, follow everything stated in post #2. Traditional information always teach management %risk. However i would like to say if you are in the learning process or testing a strategy, sticking to a fixed lot size can train your discipline and and trading psychology. If you cant afford to lose the amount you risk, trade the smallest lot size 0.01 for a period. I have traded 0.1 lot size for the 5th month and see a constant result of profit in, and i dont increase when i see a good profit...
I think a % would be a more accurate way of doing things, so if you have 50 pips or 100 pips stoploss its going to be 2% risk.
So lets say 100 pips risk is 0.1lots if you find a trade with 50 pips you can trade 0.2 lots that way everything is constant and you will get a more accurate performance report.

Just my 2%
  • #2,213
  • Feb 1, 2019 8:21am Feb 1, 2019 8:21am
Quoting hzs10
Updates Jan has a total increment of 14.7% in profit. Nothing changes, follow everything stated in post #2. Traditional information always teach management %risk. However i would like to say if you are in the learning process or testing a strategy, sticking to a fixed lot size can train your discipline and and trading psychology. If you cant afford to lose the amount you risk, trade the smallest lot size 0.01 for a period. I have traded 0.1 lot size for the 5th month and see a constant result of profit in, and i dont increase when i see a good profit...
can i ask whether there is a specific period when you are trading (i.e. what time singapore?)

do you trade asian session/london session/ny session etc?

just looking for more ideas
  • #2,214
  • Feb 2, 2019 3:17am Feb 2, 2019 3:17am
Quoting hzs10
Updates Jan has a total increment of 14.7% in profit. Nothing changes, follow everything stated in post #2. Traditional information always teach management %risk. However i would like to say if you are in the learning process or testing a strategy, sticking to a fixed lot size can train your discipline and and trading psychology. If you cant afford to lose the amount you risk, trade the smallest lot size 0.01 for a period. I have traded 0.1 lot size for the 5th month and see a constant result of profit in, and i dont increase when i see a good profit...
Congrats and thank you for sharing your trading strategy.
  • #2,215
  • Feb 2, 2019 11:25am Feb 2, 2019 11:25am
guys i wanna ask something, can i survive with 100$ balance with this strategy?
the lots are fixed 0.01 every trade. please let me know what do you think, thanks
  • #2,216
  • Feb 3, 2019 2:18am Feb 3, 2019 2:18am
Quoting kevinsiek
guys i wanna ask something, can i survive with 100$ balance with this strategy? the lots are fixed 0.01 every trade. please let me know what do you think, thanks
I am also testing this strategy with real account 250 dollars with 0.01 lot
once I will have confidence then I will increase my account and lot size
yes u can survive but if u have only 100 dollars then test it with demo account
  • #2,217
  • Feb 3, 2019 1:29pm Feb 3, 2019 1:29pm
Anyone sell GU on the big red bar three back and still in. Is it too late to take this now...seems like a good sell and good TP if it gets to 150.
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  • #2,218
  • Feb 3, 2019 2:28pm Feb 3, 2019 2:28pm
Quoting Emerald2112
Anyone sell GU on the big red bar three back and still in. Is it too late to take this now...seems like a good sell and good TP if it gets to 150. {image}
Yeah bud. You could. Better risk reward ratio aswell.
But just bare in mind this pair is prone to lots of spikes due to volatility


Trade safe
4&1 All Time Profit: $37,496
  • #2,219
  • Feb 3, 2019 3:08pm Feb 3, 2019 3:08pm
Quoting MzansiObi
{quote} Yeah bud. You could. Better risk reward ratio aswell. But just bare in mind this pair is prone to lots of spikes due to volatility Trade safe
Thanks yes looking at it hopefully its retraced back to 50% so thinking to load up big on this one

Aye, being from Belfast acutely aware of the volatility and risk going on...sure its all our fault lol
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  • #2,220
  • Feb 3, 2019 9:03pm Feb 3, 2019 9:03pm
Quoting Emerald2112
{quote} Thanks yes looking at it hopefully its retraced back to 50% so thinking to load up big on this one Aye, being from Belfast acutely aware of the volatility and risk going on...sure its all our fault lol {image}
Hahahah. I'm a little more conservative on GBP pairs due to the vola.
Small position with a slightly wider sl incase there's a fakey.....
Trade safe
4&1 All Time Profit: $37,496
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