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Attachments: Less Watch time Method (LWTM)
Exit Attachments

Less Watch time Method (LWTM)

Quoting Wiiikkks
{quote} Read the post # 1 again. The method is to trade in the direction of 1H NY open. 2nd and 3rd may be used for confirmation only.
Maybe you should also define the candle formations that you look for as not everyone will have the same definition of of a doji or inside bar engulfing bar, ect.
Quoting ozziedave
{quote} Maybe you should also define the candle formations that you look for as not everyone will have the same definition of of a doji or inside bar engulfing bar, ect.
In my opinion, the rules and conditions in the strategy are more than clear. We will try
Quoting ozziedave
{quote} Maybe you should also define the candle formations that you look for as not everyone will have the same definition of of a doji or inside bar engulfing bar, ect.
I think i have explained everything. Anyhow if u can't get it now, it will be clear in next trades.
And google for doji and engulfing candles, i see them in the same meaning.
[quote=pundit78;13641053]
Quoting Wiiikkks
{quote} Read the post # 1 again. The method is to trade in the direction of 1H NY open. 2nd and 3rd may be used for confirmation only.[/q Thats what my question is, NY trend is down still you took the opposite trade. {image}
Where i mentioned that i follow the trends?
Quoting ozziedave
{quote} The candle on 20 July 2021 that you have used to go long is the 16 hr candle. The NY open candle, 15hr, is clearly a down candle. Can you advise why you changed signal candles?
1st closed candle of NY session is bullish.
[quote=Wiiikkks;13641246]
Quoting pundit78
{quote} Where i mentioned that i follow the trends?
Ok not trend but direction of NY candle. So first candle in this trade is with wick then 2nd is bearish but you took trade on 3rd which is bullish, so why not trade taken on 2nd candle which is bearish.
Very nice.
[quote=pundit78;13641249]
Quoting Wiiikkks
{quote} Ok not trend but direction of NY candle. So first candle in this trade is with wick then 2nd is bearish but you took trade on 3rd which is bullish, so why not trade taken on 2nd candle which is bearish.
Explained in post # 17.
[quote=Wiiikkks;13641268]
Quoting pundit78
{quote} Explained in post # 17.
OK Ok got it now, if NY open is bullish we must look for bullish confirmation, if it is bearish then we must look for bearish confirmation. Am I right?
Quoting Wiiikkks
{quote} 1st closed candle of NY session is bullish.

Sorry , but as I see on the chart the 1st NY session candle is bearish. am I wrong?



Attached Image (click to enlarge)
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[quote=pundit78;13641275]
Quoting Wiiikkks
{quote} OK Ok got it now, if NY open is bullish we must look for bullish confirmation, if it is bearish then we must look for bearish confirmation. Am I right?
Forex is all about focusing. You got it right.
[quote=Wiiikkks;13641298]
Quoting pundit78
{quote} Forex is all about focusing. You got it right.
Thanks.
Quoting kasrafx
{quote} Sorry , but as I see on the chart the 1st NY session candle is bearish. am I wrong? {image}
Yes you are right its bearish and it was little loss day. But next day was boom boom green pips day.
Thanks to the topicstarter. Can I ask a question? you write that you enter a trade in any case, if the New York candle speaks about it. And use the next and the next one only for confirmation. That is, rely only on the first candle? Thanks
Quoting iDentist
Thanks to the topicstarter. Can I ask a question? you write that you enter a trade in any case, if the New York candle speaks about it. And use the next and the next one only for confirmation. That is, rely only on the first candle? Thanks
Yes took the trade on 2nd candle. Its something called 5 year experience that click on mind while watching the charts. And i overruled the basic entry rules of this forum. Next i ll only post the trades that sololy based on the rules of LWTM.
Quoting Wiiikkks
{quote} Yes took the trade on 2nd candle. Its something called 5 year experience that click on mind while watching the charts. And i overruled the basic entry rules of this forum. Next i ll only post the trades that sololy based on the rules of LWTM.
Thanks again. You gave us hope. It will be very kind of you if you show us several entrances in as much detail as possible.
This indicator can be useful to you.
It marks the opening candle of NY.
It is also adjustable.
Attached Image (click to enlarge)
Click to Enlarge Name: NY open.png Size: 39 KB

http://www.mediafire.com/file/rvro54...so/NY_open.mq4
Okay here we add something to this system to reduce the drawdown.
This system works perfect in trending market but in consolidation phase it sucks sometime.
Here is the solution that I'm going to test from now on....
Consider the range of 1H NY open candle, it must be less than the 4 times of the range of last day ( last day range means starting from opening of last day NY session to the start of todays NY session)
E.g, last day (thursday) range is almost 68 pips and if we divide it by 4 (68÷4) we get 17. So last friday NY open 1H candle range must be less than 17. But NY 1H candle range of last friday is almost 33, which is much bigger. So friday is decided to be no trade day.
Quoting Wiiikkks
{quote} Great to understand the foreign times. But i think, others who have time difference from NY, it has to bear the same hustle either to compare the local time with NY or GMT. And the strategy is the same for both time dilations.
Of course, everyone has a time difference but why do 2 reference points?

You still don't get it, New York has Daylight Savings twice a year

Wait until then, you will get 20 questions about time, regards GMT or New York

Think about it like this:

The method uses New York time, 8 am

When it is 8 am in New York, it is ALWAYS 8 am in New York

Forget about doing calculations or reference to GMT, not important

KISS

If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return: -1.0%
Ok so 8am start NY time . We wait for 1 hr , candle close at 9am . Here we know if candle bearish / bullish and entry in direction of this and hold trade until next day 8am NY time , correct ?
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