Hello I'm I think this system rocks can someone with invite Steve Hopwood to this party I mean I would ask him myself to create this ea but I have no reputation on FF,so most likely he'll just ignore me but please someone reach out and touch him on this one,I know sometimes people don't want ea's to clutter the thread but the way Steve's been doing it lately he can just start a separate thread,thanks I respect the pippin going on here!
This member @Moewet had an idea to invite Steve Hopwood to code an expert advisor.
And the OP Big E reply was:
Moe, We don't want any EA's. Why? They can't observe and think like humans can and do. You need to learn to think on your own while trading and making your own decisions. Most EA"s don't work well anyway... sorry buddy...
Back then in April 2011, I agreed with the OP and today I still agree with the OP that traders need to observe and use their own discretion from many years of trading experience when manually trading his 5-Method.
However, over the course of the last 30 years my experience I know some expert advisors do work and can generate some profits as additional cash flow to our manual trading and this can work when we trade under certain market conditions.
For those who prefers to trade manually and follow the OP' post#1,
trade the 4Hr candles Pacific 10PM, 2AM and 6AM and also the 1Hr during the first 3~4 hours of the New York Open, this will work out provided you know the Market Type conditions to trade this TMS 5-Method.
Your need to follow a strict discipline and know when and what to trade.
Your trading routine should be something simple like this below:
1) Beginning of the trade week, check your Weekly chart and make sure the Weekly is Trending, and if there is presence of WRB and/or WCC. I will explain what these WRB and WCC candles are on chart examples in later post charts.
2) Daily start-of-day routine, check charts for Daily to be align with the Weekly trend and the Daily must not be sideways and choppy. Verify this with the Price Action Channel to make sure the Daily is trending above or below the PAC.
3) On your 4Hr charts, the 4Hr price action must be align with the Daily and Weekly. This will be the ideal conditions to trade the 4Hr swing the same way the OP did ... trade once every 4 hours. You can trade before the European sessions e.g. the London 6am on certain days when the Daily and Weekly are trending, then at the London 10am and 2pm, up to the new York session opens.
4) For intraday traders, stay away from M30 and M15 unless you are very proficient and confident in trading price action and support/resistance with Bar chart over APB/HA candles. Japanese candlestick. Stick to the 1Hr charts for the trade setups.
5) For Day-trading 1Hr charts, make sure 1Hr is align with the 4Hr and 3) above. This will enable you to convert your 1Hr trades to 4Hr trades and "Let Profit Run" to get those +9R to +12R trades. Otherwise, your day trades should target +2R to +5R with proper trade exit management using 'R' and R-Multiple management.
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>>> more on how the trade Weekly sideways market type conditions and Daily choppy price action.
Stay Tuned !
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
