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Trading Made Simple(r)

  • #1,461
  • Jul 15, 2019 2:05pm Jul 15, 2019 2:05pm
Quoting marcara
{quote} Hi Emmanuel, What do you thinkin using Robinhood method on H1 charts? The idea is using H1 charts instead on H4 charts, so D1 will guide the trade but the trade will be in H1. Is H1 consistent enough ? I am thinking in working on H1 charts because: 1) H1 is universal chart for everybody, H4 is not, depends on your data provider. 2) H4, you will need to be the whole day checking for trades; maybe with H1 you can focus 5-6 hours a day (5-6 H1 candles) and have the same trades Robinhood, obviously your comments will also be great. Thans in...
A chart is a chart. Take one and switch it from Hourly to Daily to Weekly. You can't tell what time frame each one is without looking.

The more important question is how far does price tend to move on average during a trend on a certain time frame? If you think you can catch big enough swings to make you happy on a hourly, then trade it.
Always a Student, Never a Master - Emulate What Works
  • #1,462
  • Jul 15, 2019 2:34pm Jul 15, 2019 2:34pm
Quoting spyderman
{quote} If you're in an H4 trade with a strong daily/weekly trend you may choose to lock in a portion of your profits (say 2/3) and use the other 1/3 to "finance" an add-on trade. Trail the add-on trade s/l bar by bar until break even (leaving the original 2/3) where it was. If trend continues down on daily/weekly wait for next H4 signal then repeat...
Thank You
  • #1,463
  • Jul 15, 2019 2:34pm Jul 15, 2019 2:34pm
Quoting emmanuel7788
{quote} these old posts I made in the TMS thread may answer your questions. Post#33,507 https://www.forexfactory.com/showthr...82#post7357782 Post#48,008 https://www.forexfactory.com/showthr...53#post7968153 when I was trading H1 I used trailing by previous 1 bar/candle and found that to be quite effective usually get stopped out after a big price...
Thank You
  • #1,464
  • Jul 15, 2019 2:38pm Jul 15, 2019 2:38pm
Quoting marcara
{quote} 2) H4, you will need to be the whole day checking for trades; maybe with H1 you can focus 5-6 hours a day (5-6 H1 candles)
Hi Marcara - with the H4 TF, there is only a need to look at your charts 4 times a day for around 5 minutes each time.........that's like 20 minutes in TOTAL for the day. (some of the candle Open/Close times you will be sleeping so i have not counted those obviously). Scanning 28 pairs for setups is really quick with the RH TM(s) method - it is really stress free
  • #1,465
  • Jul 15, 2019 3:25pm Jul 15, 2019 3:25pm
Quoting neil001
{quote} Hi Marcara - with the H4 TF, there is only a need to look at your charts 4 times a day for around 5 minutes each time.........that's like 20 minutes in TOTAL for the day. (some of the candle Open/Close times you will be sleeping so i have not counted those obviously). Scanning 28 pairs for setups is really quick with the RH TM(s) method - it is really stress free
The only candle I try to miss is the 4/5AM one :-)
Emotion - it steals your money.
  • #1,466
  • Jul 15, 2019 3:25pm Jul 15, 2019 3:25pm
Quoting neil001
{quote} Hi Marcara - with the H4 TF, there is only a need to look at your charts 4 times a day for around 5 minutes each time.........that's like 20 minutes in TOTAL for the day. (some of the candle Open/Close times you will be sleeping so i have not counted those obviously). Scanning 28 pairs for setups is really quick with the RH TM(s) method - it is really stress free
Yes with a family , day job , commitments , having a life , I think 4 h is great !

I know most of the pro non retail traders do follow the 1h charts during NY session , well at least from 9:30-noon just like old style TMS did when he created TMS , along with 4h during Asian session and close all trades around London open
  • #1,467
  • Jul 15, 2019 3:39pm Jul 15, 2019 3:39pm
Quoting RobinHood
{quote} I don't have the time or energy to answer all these questions. Everything you really need to know about my trading methods are on page 1, post #1.
Absolutely True!.

Trade well.
  • #1,468
  • Jul 15, 2019 4:21pm Jul 15, 2019 4:21pm
Quoting Barraka
Following up on my previous post a few pages back, I've spent the past few days manually back-testing this method (instead of using the EA), and indeed the results are quite different. I applied the 3 units method described in post 1382, and actually that helped quite a bit, I quite like that approach. It gives the opportunity to take advantage of bigger cycles, and ensures of not leaving to many pips on the table. Here are some results that I got, focusing only on the H4 TF: - AUDNZD 2014: 60%WR, +11.5% gain, average expectancy: 0.58R. - AUDNZD...
Barraka - the fact that you did manual testing and recorded results that make sense gives you a better than average shot at this whole trading "thing" (IMHO) - most people just won't do the due diligence no matter how many times they are told to......
  • #1,469
  • Jul 15, 2019 4:42pm Jul 15, 2019 4:42pm
Quoting Barraka
Following up on my previous post a few pages back, I've spent the past few days manually back-testing this method (instead of using the EA), and indeed the results are quite different. I applied the 3 units method described in post 1382, and actually that helped quite a bit, I quite like that approach. It gives the opportunity to take advantage of bigger cycles, and ensures of not leaving to many pips on the table. Here are some results that I got, focusing only on the H4 TF: - AUDNZD 2014: 60%WR, +11.5% gain, average expectancy: 0.58R. - AUDNZD...
How long did u back test it for ?
  • #1,470
  • Jul 15, 2019 4:59pm Jul 15, 2019 4:59pm
Quoting paroucia
{quote} Are you sure you're LONG? / anybody long on NZDCHF today? if not why? (except R/S zone) Thanks
Apologise. It is short.
  • #1,471
  • Jul 15, 2019 5:10pm Jul 15, 2019 5:10pm
Quoting marcara
{quote} Hi Emmanuel, What do you thinkin using Robinhood method on H1 charts? The idea is using H1 charts instead on H4 charts, so D1 will guide the trade but the trade will be in H1. Is H1 consistent enough ? I am thinking in working on H1 charts because: 1) H1 is universal chart for everybody, H4 is not, depends on your data provider. 2) H4, you will need to be the whole day checking for trades; maybe with H1 you can focus 5-6 hours a day (5-6 H1 candles) and have the same trades Robinhood, obviously your comments will also be great. Thans in...
Hi marcara

The method will work in all timeframes. You need to be very disciplined in how to trade and knowing which pairs to trade in which market sessions.

Here is USDJPY M15 example how I used to trade during the Syndey-Tokyo open session. You will get many wins and losses.

I no longer trade intraday and move on to trading only D1 and W1 charts setups.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Jul 16 TOK 0805 16-07-2019 08-05-36.png Size: 64 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,472
  • Jul 15, 2019 5:31pm Jul 15, 2019 5:31pm
Quoting marcara
{quote} I do not see why
Apologise for writing long instead of short
  • #1,473
  • Jul 15, 2019 10:08pm Jul 15, 2019 10:08pm
Quoting emmanuel7788
{quote} Hi marcara The method will work in all timeframes. You need to be very disciplined in how to trade and knowing which pairs to trade in which market sessions. Here is USDJPY M15 example how I used to trade during the Syndey-Tokyo open session. You will get many wins and losses. I no longer trade intraday and move on to trading only D1 and W1 charts setups. {image}
Hi Emmanuel
would you say which pairs to trade in which market session?

Best Regards
  • #1,474
  • Jul 15, 2019 11:10pm Jul 15, 2019 11:10pm
Quoting emmanuel7788
{quote} Hi marcara The method will work in all timeframes. You need to be very disciplined in how to trade and knowing which pairs to trade in which market sessions. Here is USDJPY M15 example how I used to trade during the Syndey-Tokyo open session. You will get many wins and losses. I no longer trade intraday and move on to trading only D1 and W1 charts setups. {image}
Intresting so you use the mother D1 charts and grandmother w1 charts for you confirmation set up with Robinhood method , and once that’s confirmed you go dial down to the daughter 4h chart for entry and exit while you ride the grandmother D1 trend ? Keep enter and exit on the 4h during the enitre confirmed D1 trend set up ?
  • #1,475
  • Jul 15, 2019 11:58pm Jul 15, 2019 11:58pm
Quoting paroucia
{quote} Hi Emmanuel would you say which pairs to trade in which market session? Best Regards

Hi paroucia

I used to trade these 3 pairs AUDUSD, AUDJPY and USDJPY during the early morning session of Sydney and Tokyo on M15 and H1 charts.
Not anymore.

Your can go to this website and look up the hourly volatility of those pairs you want to trade.
https://www.mataf.net/en/forex/tools/volatility

Example below is AUDUSD Hourly.

Attached Image (click to enlarge)
Click to Enlarge Name: Hourly volatility AUDUSD 16-07-2019 14-50-26.png Size: 55 KB


EURUSD Hourly

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD hourly volatility 16-07-2019 14-54-43.png Size: 23 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,476
  • Jul 16, 2019 12:02am Jul 16, 2019 12:02am
Quoting emmanuel7788
{quote} Hi marcara The method will work in all timeframes. You need to be very disciplined in how to trade and knowing which pairs to trade in which market sessions. Here is USDJPY M15 example how I used to trade during the Syndey-Tokyo open session. You will get many wins and losses. I no longer trade intraday and move on to trading only D1 and W1 charts setups. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Jul 16 TOK 0805 16-07-2019 08-05-36.png Size: 64 KB



this turned out quite good depends on how you manage your exit.
you could have breakeven or +1R or +2R

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPT Jul 16 M15 trade example 2R 16-07-2019 12-14-35.png Size: 75 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,477
  • Jul 16, 2019 12:29am Jul 16, 2019 12:29am
Quoting Bluejay12
{quote} Intresting so you use the mother D1 charts and grandmother w1 charts for you confirmation set up with Robinhood method , and once that’s confirmed you go dial down to the daughter 4h chart for entry and exit while you ride the grandmother D1 trend ? Keep enter and exit on the 4h during the enitre confirmed D1 trend set up ?
Good sense of humour calling Weekly grandmother, Daily mother and ....4Hourly daughter. LOL.

I keep a rather simple routine.

When Monday market open at my end (NY Open Sunday) I scan through my watchlist 20 pairs Weekly charts and look for new setups and if there is already an established trend after a recent CROSSOVER, I will drop down to Daily. If Weekly shows that price bars HA candles are small and trapped within its HMA and 5EMA, I skip the pair. I wait until there is a new price move outside the HMA and 5EMA.

Then I scan through all my daily charts and see if there are new CROSSOVER setups or CONTINUATION setups. If there is any, I simply open my positions.

If Daily shows established trend after a recent CROSSOVER, I'll wait on H4 for setups.

Doing it this top down approach, I will always find some good trading opportunities during the week.

How I allocate my account money to trade each pair is my other grandmother story...

Example EURJPY below,.. no trading for two weeks when price 'trapped inside HMA and 5EMA.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Weekly scan 16-07-2019 15-29-06.png Size: 58 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,478
  • Jul 16, 2019 12:36am Jul 16, 2019 12:36am
Quoting emmanuel7788
{quote} Hi paroucia I used to trade these 3 pairs AUDUSD, AUDJPY and USDJPY during the early morning session of Sydney and Tokyo on M15 and H1 charts. Not anymore. Your can go to this website and look up the hourly volatility of those pairs you want to trade. https://www.mataf.net/en/forex/tools/volatility Example below is AUDUSD Hourly. {image} EURUSD Hourly {image}
Hey
i don't know how you say volatility of AUDUSD is high only on early morning in Tokyo! as i see volatility is high from begining of Tokyo till end of london time almost! if time origin is GMT. please correct me if i'm wrong.

Thanks
  • #1,479
  • Jul 16, 2019 1:03am Jul 16, 2019 1:03am
Quoting paroucia
{quote} Hey i don't know how you say volatility of AUDUSD is high only on early morning in Tokyo! as i see volatility is high from begining of Tokyo till end of london time almost! if time origin is GMT. please correct me if i'm wrong. Thanks

I did not say the volatility is high. I only want to show the hourly volatility is distributed throughout a 24 hour day so that we know which are the best hours of the day to trade for every pair.

Look at EURUSD and GBPUSD, these two pairs are good to trade from Frankfurt Open up till London close. When trading H1 and below, you just need to be careful at those hour when Tokyo session closing hour and before NY open hour, and the overlap hours of London and the NY sessions.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,480
  • Jul 16, 2019 1:24am Jul 16, 2019 1:24am
Quoting emmanuel7788
{quote} I did not say the volatility is high. I only want to show the hourly volatility is distributed throughout a 24 hour day so that we know which are the best hours of the day to trade for every pair. Look at EURUSD and GBPUSD, these two pairs are good to trade from Frankfurt Open up till London close. When trading H1 and below, you just need to be careful at those hour when Tokyo session closing hour and before NY open hour, and the overlap hours of London and the NY sessions.
i just misunderstood!
thanks for clarification : )
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