Below average compared to how many years of trading the method?
Ignored
9 months. I opened a thread for this system so if you would continue the questions about it there. I counted wrong its somewhere around 200 pips. Ill count later. System rules are in the 4H 5EMA system thred.
9 months. I opened a thread for this system so if you would continue the questions about it there. I counted wrong its somewhere around 200 pips. Ill count later. System rules are in the 4H 5EMA system thred.
Ignored
Please post the link to the thread for easy access.
I have what I beleive to be a hidden bearish divergence
Could anyone with experience please correct me if I'm wrong, thanks
Ignored
VB,
Presently on the 4HR chart, EURUSD and GBPUSD are both ranging. I guess your divergence would predict a reversal but the question is when should you expect the reversal. Personally i take divergences on my chart to mean " hey watch out! a reversal COULD be on the way!". Once the market breaks out then we can validate whether the divergence was correct or a fluke. Therefore i continue taking trades in the previous direction until i get stopped out.
My Stocahstic is not as smooth as the one you posted although i use the same settings as urs. Could you post urs here?
Thanks.
PS: My Stochastic had already shown a triple divergence some days back but i am yet to see a reversal. Also i'll advise you use more than one indicator to spot divergences. The bottom MACD also shows a divergence so that shows it could be for real.
If you trade this system using any 1HR charts then you can ignore this post....
The trade poll shows that the profitability of this system is well above 60% but i believe we can take it a little higher using what i would like to suggest.
When you trade on the 4HR chart, go down to the 1HR chart once you spot a retracement candle (on the 4HR chart). This method is to give you a better entry point than when you are on the 1HR chart. Your stop-loss remains the same as the system suggest and every other parameters except the entry point (buy stop or sell stop). When you are on the 1 HR chart, set your buy stop (during a bearish trend) to 1 pip below the low of the last retracement candle (which now should coincide with the retracement candle on the 4HR chart). Every conditions remain the same like your TP levels.
The reason behind this modification is to guard against losing too much incase you get stopped out. If you get stopped using this modification, you could still enter again on sighting another retracement candle and both losses wouldn't be as much as when you use an entry point based on the 4HR chart.
Would like to try and find some one using this the same way as I might be so we can exchange idea's and what might be a good setup
Cheers,
VB,
Ignored
I started 3 days ago and I have now 5 winners for 1 loser and 3 orders still running (looking good). I trade the system on H4 only and use the 1:1 ratio.
I had no setup yesterday except one on gbp/cad which failed. As for today I just woke up so no setup neither but looks like we could get one on usdchf soon. It's kinda ranging though so I'm not sure I will take it, i'll take a look at the indicators...
forget about usd/chf guys, it is in fact ranging. take a look at these pairs on the 4hrly though. usd/jpy gbp/usd chf/jpy nzd/usd aud/jpy eur/aud i think we have a good set up on all of these charts. and about 25 minutes to go. any suggestions anyone?
forget about usd/chf guys, it is in fact ranging. take a look at these pairs on the 4hrly though. usd/jpy gbp/usd chf/jpy nzd/usd aud/jpy eur/aud i think we have a good set up on all of these charts. and about 25 minutes to go. any suggestions anyone?
Ignored
yep looks good but we have to wait for a bullish candle (direction of the trend) after the correction so it looks like we'll have to wait for 4 more hours.
forget about usd/chf guys, it is in fact ranging. take a look at these pairs on the 4hrly though. usd/jpy gbp/usd chf/jpy nzd/usd aud/jpy eur/aud i think we have a good set up on all of these charts. and about 25 minutes to go. any suggestions anyone?
Ignored
Out of all you listed i only trade the GBPUSD, GBPJPY and the AUDUSD(though u didn't mention the last). On the three of them there appears to be good setup candles. Well lets see if our patience since the beginning of the week is gonna pay...
Welcome to the New Year but everything still remains basic for me (BTS). I just wanted to throw in another comment into this already dead thread (or is it? cos word got to me that every member is now invisible!). I have decided to keep on using this method by Effilang since i saw the potential within. Believe me i have not been dissappointed (except for November and December last year which i know would be trying for ANY trading system every year's cycle no matter how profitable it is).
I used to use this method on 4HR chart but found out i was missing out on some 'juicy' trades that could give me the potential of x3 to x4 of the 4HR chart had i been trading on the 1HR chart.
I wish someone could make an EA for the 1HR version of this system but that would be next to impossible since this is a system that is very much discretionary.
So why am i posting this? Well it's just to wish the 'invisible' members of this thread a Happy New Year and also a more profitable trading with this system this year.
Who knows, maybe i might start posting my live trades as time goes on...
I am still here but i have been trading a method similar to this on the 4hr time frame which works well it just produces a drawdown that is tough to live with sometimes. If you start posting your trades live I will get more involved with this system again and assist. I do believe I am also leaving pips on the table so to speak with the 4hr. What time frame do you use?
Yes your right the smaller timeframe does require more discretion and an ability to cherry pick higher percentage trades...but I also believe it is absolutely possible.
With good consistant trading discipline and responsible money management this is all the system a trader will ever need.
everybody is ultrarich now. Effilang every system of yours made a lot of people extremely rich 
