Disliked{quote} I'm indeed having more success trading the daily and the weekly stock charts. When trading the Forex I find it is much easier to enter on the 4-hour chart and then converting it to the daily just like you used to do. These are some of the trades I'm currently in: {image}{image}{image}{image} I have some feedback from last month. 1) I'm not moving my stop loss 2 bars back but instead keeping it at the high or low of the last daily bar. 2) I've also been able to catch bigger trends when I exit based on the combination of 2-3 indicators but...Ignored
- #8,262
- Jul 21, 2022 6:05am Jul 21, 2022 6:05am
- | Joined Mar 2022 | Status: Discipline & Consistency | 59 Posts
{quote} Hello! I'm still behind on reading the forum posts but just wanted to ask what you meant by entering on the 4-hour chart and then converting it to the daily. If my understanding is correct, then you're entering solely on the 4H signal and after that's done, you're going to zoom out to the daily and manage it from there? Sorry if this might be a stupid question, but are you not waiting for the daily and the 4 hour chart to align (i.e. if the 4H has a signal to buy then the daily should have the HMA to green, up the yellow line, and the stochs...
So let's analyse this trade for example:
I entered short based on divergence, trend exhaustion and the TL break.
When I shorted the pair the only thing the daily was telling me was that the candle was red, it crossed the yellow line and HMA was pink as you can see:
From there I will keep my stop 1 bar back and either trail it or exit when I feel like it.
I either lose my bait or I will have a huge win but I find that doing this when the trend might be changing is worth it.
I would advise you to do that when the higher time frame RSI is on the same side of the 50 line.
I didn't but that's a risk I'm willing to take.
Only the Mediocre are Always at their Best
- #8,268
- Jul 27, 2022 10:31am Jul 27, 2022 10:31am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
Always a Student, Never a Master - Emulate What Works
- #8,269
- Jul 27, 2022 10:39am Jul 27, 2022 10:39am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
Always a Student, Never a Master - Emulate What Works
- #8,271
- Jul 28, 2022 11:26pm Jul 28, 2022 11:26pm
Hey @RobinHood,
Thank you very much for these last two videos you posted!
Very interesting content, as well as having the perspective and psychology of this experienced trader !
Have a nice green day
Thank you very much for these last two videos you posted!
Very interesting content, as well as having the perspective and psychology of this experienced trader !
Have a nice green day
- #8,273
- Edited Aug 2, 2022 4:04am Aug 1, 2022 12:42pm | Edited Aug 2, 2022 4:04am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
Always a Student, Never a Master - Emulate What Works
- #8,275
- Aug 2, 2022 4:03am Aug 2, 2022 4:03am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
Always a Student, Never a Master - Emulate What Works
- #8,276
- Edited 8:25am Aug 4, 2022 6:07am | Edited 8:25am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
Always a Student, Never a Master - Emulate What Works
- #8,280
- Aug 12, 2022 1:04pm Aug 12, 2022 1:04pm
- Joined Nov 2008 | Status: Trader | 50,200 Posts
I immediately ask who can answer me a question. When I look at the upper tf (h4 and D1), to understand the direction of D1, do I look at the color of the current candle D1, yesterday's candle D1 or the current trend? in the case of the current trend, how do I measure it? with the ema 200, channel or other?
is this trending or sideways ranging?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett