Less Watch time Method (LWTM) | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading method using multi time frames for long term and scalping - YAS1R 102 replies

bo7a method... method for GBP/JPY 205 replies

Is Market Watch time the definitive broker time as used by EAs? 4 replies

Heiken Ashi Multi-time frame method 2 replies

Is there a method to aggregate Time Frames ?? 0 replies

Attachments: Less Watch time Method (LWTM)
Exit Attachments

Less Watch time Method (LWTM)

  • #21
  • Jul 25, 2021 7:23am Jul 25, 2021 7:23am
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.
  • #22
  • Jul 25, 2021 7:27am Jul 25, 2021 7:27am
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
  • #23
  • Jul 25, 2021 8:49am Jul 25, 2021 8:49am
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.
  • #24
  • Jul 25, 2021 8:53am Jul 25, 2021 8:53am
[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?
  • #25
  • Jul 25, 2021 8:56am Jul 25, 2021 8:56am
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.
  • #26
  • Jul 25, 2021 9:01am Jul 25, 2021 9:01am
[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.
  • #27
  • Jul 25, 2021 9:23am Jul 25, 2021 9:23am
Very nice.
  • #28
  • Jul 25, 2021 9:36am Jul 25, 2021 9:36am
[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.
  • #29
  • Jul 25, 2021 9:50am Jul 25, 2021 9:50am
[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?
  • #30
  • Jul 25, 2021 10:15am Jul 25, 2021 10:15am
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)
Click to Enlarge Name: pic1.png Size: 24 KB
  • #31
  • Jul 25, 2021 10:17am Jul 25, 2021 10:17am
[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.
  • #32
  • Jul 25, 2021 10:20am Jul 25, 2021 10:20am
[quote=Wiiikkks;13641298]
Quoting pundit78
{quote} Forex is all about focusing. You got it right.
Thanks.
  • #33
  • Jul 25, 2021 10:29am Jul 25, 2021 10:29am
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.
  • #34
  • Jul 25, 2021 10:35am Jul 25, 2021 10:35am
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
  • #35
  • Jul 25, 2021 10:48am Jul 25, 2021 10:48am
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.
  • #36
  • Jul 25, 2021 11:03am Jul 25, 2021 11:03am
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.
  • #37
  • Jul 25, 2021 11:13am Jul 25, 2021 11:13am
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
  • #38
  • Jul 25, 2021 1:28pm Jul 25, 2021 1:28pm
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.
  • #39
  • Jul 25, 2021 3:14pm Jul 25, 2021 3:14pm
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

It takes a lot for me to IGNORE you, but you can try.
  • #40
  • Jul 25, 2021 4:40pm Jul 25, 2021 4:40pm
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 ?
0 traders viewing now