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Simple 4 Hour System

  • #161
  • Jun 17, 2007 11:18am Jun 17, 2007 11:18am
DaveB

good lookin chart...keep `em coming...

thx
  • #162
  • Jun 17, 2007 5:29pm Jun 17, 2007 5:29pm
Just a question from a newbie...

I like this system, have been working with it for about 10 days and it makes sense and $$. How do I use the 'weekly pivot'? Any help would be appreciated.
  • #163
  • Jun 17, 2007 11:55pm Jun 17, 2007 11:55pm
The weekly pivot is purely to give an idea about direction. Above pivot being bullish and below being bearish. It has nothing to do with the main signals.

Quoting cjrreja
Just a question from a newbie...

I like this system, have been working with it for about 10 days and it makes sense and $$. How do I use the 'weekly pivot'? Any help would be appreciated.
Bullish Attitude!
  • #164
  • Jun 17, 2007 11:56pm Jun 17, 2007 11:56pm
I am glad it is working for you. Going by 100 pips/week target, 317 has covered you for 3 weeks. Good Luck

Quoting pippocket
Hi Marketsnipers
Thank you for sharing your system. It is truely a simple system to trade and very profitable. Yes I did take this trade and closed it on Friday for 317 pip profit. This was my first week trading your system in my live acct. I have been trading live, off and on for about 8 months now with little success to this point. However, using your system, this was my best week to date. The hardest part of this system is sitting on my hands and doing nothing while waiting for a signal. Of course I do continue to read, study and learn while waiting. This system also works well with my goals as a trader because I do not want to be in front of my computer all day. It looks to me like most trades last between 2-4 days. I am finding this is a more comfortable time frame for me. Thank you and have a great weekend!

Regards
pippocket
Bullish Attitude!
  • #165
  • Jun 17, 2007 11:57pm Jun 17, 2007 11:57pm
I honestly do not trade the eurgbp and don't think will ever trade. Hence I am no good recognizing it's movements, etc. If you do trade, let your target be not more than 30-40 pips overall. It has a very low range.

Quoting DaveB
Looks like a possible trade setup occurring on eur/gbp, 100 sma been tested twice but my shi-silver trend signal is indicating a short. Time will tell. Also us/cad has just broken and is sitting on top of the 100sma but the 100 sma is sloping down so that could be a tricky one. Monday will give us a clearer picture of events.
Bullish Attitude!
  • #166
  • Edited 4:41pm Jun 18, 2007 3:15pm | Edited 4:41pm
Valid signal on eur/usd providing damiani indicator validates?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 67 KB
  • #167
  • Jun 18, 2007 7:05pm Jun 18, 2007 7:05pm
But I thought that the weekly pivot was where you place your S/L(?).

Thank you very much for sharing your system!

Quoting marketsnipers
The weekly pivot is purely to give an idea about direction. Above pivot being bullish and below being bearish. It has nothing to do with the main signals.
  • #168
  • Jun 18, 2007 11:01pm Jun 18, 2007 11:01pm
Yes.

Quoting DaveB
Valid signal on eur/usd providing damiani indicator validates?
Bullish Attitude!
  • #169
  • Jun 18, 2007 11:02pm Jun 18, 2007 11:02pm
It is one of the areas with the others being the SR lines. If none exist, I place a flat 50 pips depending on the currency again. For GBPJPY it would be a flat 100 pips due to it's giant movements.

Quoting tunaboy
But I thought that the weekly pivot was where you place your S/L(?).

Thank you very much for sharing your system!
Bullish Attitude!
  • #170
  • Jun 20, 2007 2:43pm Jun 20, 2007 2:43pm
Does anyone know how to alter the colours on the Autopivotindicator? I have a white background to my charts and can hardly see the pivots as some are yellow and the monthly is white. I would prefer to keep the background white.

Thx
Dave
  • #171
  • Edited 9:51pm Jun 20, 2007 9:40pm | Edited 9:51pm
hello eveybody, i am so pleased to be here. thanks for bringing us this good system. i am new for this method but i am so interested. can anyone tell me that why there is always has daily privot shown on my chart even i have set them as false?And for an entry, do we need to wait for a 4h candle close below 100 and then go in to the market next bar?so if the price just dip delow 100 but the closing price is above 100, we will not do anything? right? but even we need to enter, where is the price to enter? the first 4h bar right after it was where broke 100 and then enter in the price at the whatever price it give to you?

many thanks!

BTW, beside euro/chf, has anyone find any other pairs also working fine with this method?
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.jpg Size: 43 KB
  • #172
  • Jun 20, 2007 11:45pm Jun 20, 2007 11:45pm
Guess, you have to alter the code. That is what I did.

Quoting DaveB
Does anyone know how to alter the colours on the Autopivotindicator? I have a white background to my charts and can hardly see the pivots as some are yellow and the monthly is white. I would prefer to keep the background white.

Thx
Dave
Bullish Attitude!
  • #173
  • Jun 20, 2007 11:53pm Jun 20, 2007 11:53pm
1. You have to put both Daily Pivot and Daily SR levels to false.

2. Yes, we wait for 4H candles to close above or below the 100 SMA for a signal combined with MACD going above or below 0 line.

3. You enter at the price of the closing bar immediately.

4. Come to the private room where I teach my method and we can discuss more. Of course, there is no charge for it.

Hope that helps.

Quoting pattyliu
hello eveybody, i am so pleased to be here. thanks for bringing us this good system. i am new for this method but i am so interested. can anyone tell me that why there is always has daily privot shown on my chart even i have set them as false?And for an entry, do we need to wait for a 4h candle close below 100 and then go in to the market next bar?so if the price just dip delow 100 but the closing price is above 100, we will not do anything? right? but even we need to enter, where is the price to enter? the first 4h bar right after it was where broke 100 and then enter in the price at the whatever price it give to you?

many thanks!

BTW, beside euro/chf, has anyone find any other pairs also working fine with this method?
Bullish Attitude!
  • #174
  • Jun 21, 2007 12:56am Jun 21, 2007 12:56am
the picture 1 was the enter
the picture 2 is now the candle
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 68 KB
Click to Enlarge Name: 2.jpg Size: 72 KB
Sorry about my english...
  • #175
  • Jun 21, 2007 1:05am Jun 21, 2007 1:05am
hi marketsniper, i just PM you and please check it. BTW, i got pivot set up coorectly on my chart. thanks! looking forward to talk you over skype.
  • #176
  • Jun 21, 2007 1:54am Jun 21, 2007 1:54am
1. I dont trade eurusd. Go back in charts and you will see it isnt the best. News crazy.

2. Wouldn't we all be rich otherwise?

Quoting CIORIMAU--
the picture 1 was the enter
the picture 2 is now the candle
Bullish Attitude!
  • #177
  • Jun 21, 2007 6:37am Jun 21, 2007 6:37am
Hi marketsnipers,

May I ask you how would you have dealt with the sequence in the attached graph?

Thank you

Gerry
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.jpg Size: 87 KB
  • #178
  • Jun 21, 2007 9:32am Jun 21, 2007 9:32am
I wouldn't:

1. You are seeing a 1 hour chart, while I trade the 4H.
2. I took my first ever eurjpy trade last Friday for 50 pips profit and that was it.

Hope that answers it.

Quoting biker883
Hi marketsnipers,

May I ask you how would you have dealt with the sequence in the attached graph?

Thank you

Gerry
Bullish Attitude!
  • #179
  • Jun 21, 2007 12:00pm Jun 21, 2007 12:00pm
In fact it doesn't help as it does not answer the question, whatever the time frame was hourly the sequence could be present on a 4 hours graph as on the one attached. I also understand that you don't trade that pair, it is only for tha case study as the situation could exist in any pairs.

So what action would you have taken ?

Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy.jpg Size: 82 KB
  • #180
  • Jun 21, 2007 1:14pm Jun 21, 2007 1:14pm
As I see it, the Diamani indicator is saying 'no trade' ie white line above the green, so that would have kept me out during that sequence. Also the 100sma is as flat as a pancake, ie no direction, so it would have been risky to take a trade on this sequence (in my opinion).


Marketsnipers, re: colour of lines, I altered the code ie the colour from yellow to red but this made no difference, the line just reverted back to its original colour after about one minute. I then tried looking at the properties of the line itself by double clicking that and changing the colour but got the same result, yet the text box colours changed ok. So I am puzzled.
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