My persistence in trading off the H4 on Oanda will definitely produce dissimilar results from your H4 trades on Alpari. Rather than skew the results from your reports would you prefer I simply stick with Alpari so as to not confuse the issue? For example, there is no CHFJPY nor EURJPY trades happening on Oanda at this time.
I trade similar breakouts from consolidation zones, typified by the inside bar/candle pattern. Something that might be of use is once a 4hr IB has printed, place lines above and below (the IB) and drop down to the hrly chart, wait for an hourly close above/below the lines and enter a few pips beyond that hrly bar...EJ as an example in the charts below. It might appeal to those with a more cautious style.
I trade similar breakouts from consolidation zones, typified by the inside bar/candle pattern. Something that might be of use is once a 4hr IB has printed, place lines above and below (the IB) and drop down to the hrly chart, wait for an hourly close above/below the lines and enter a few pips beyond that hrly bar...EJ as an example in the charts below. It might appeal to those with a more cautious style.
My persistence in trading off the H4 on Oanda will definitely produce dissimilar results from your H4 trades on Alpari. Rather than skew the results from your reports would you prefer I simply stick with Alpari so as to not confuse the issue? For example, there is no CHFJPY nor EURJPY trades happening on Oanda at this time.
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Bob whatever you choose is fine, if you good with Oanda and its working then fine if you want to exactly follow my time zone then use Alpari,
I feel all of the 3 options listed above plus Nadex are viable trading methods. However, all of these strategies possess not-so-similar dynamics. My concern is lumping them all into one thread would make it confusing to some (namely me...lol) and virtually impossible to manage. This would likely burn you out in short order.
There are a variety of methods to trade IB's alone. I would specifically cite Peter Crowns' body of work, and Toby's thread on BP. These strategy examples expand trading to D1, H4 and H1 charts all with different methods...
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Bob been reading up on Peter Crown's work very good stuff, Thanks love this quote by Peter...
1) Do you have a preference for trading hours? Or do you take any or all H4 IB's?
2) Do you avoid trading days like today where there are very few news releases that produce large volume and price movement?
Thanks,
Bob
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good questions Bob and I am still thinking those over you can use them as filters personally I am not doing that yet. Just went through some really bad chop on some of the yen crosses. I have to think it over a time filter might be good. Thanks.
1) Do you have a preference for trading hours? Or do you take any or all H4 IB's?
2) Do you avoid trading days like today where there are very few news releases that produce large volume and price movement?
Thanks,
Bob
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Bob one scenario I wanted to ask you about what if you take the inside bar trade, then price never reaches 40 pips profit and forms another inside bar setup do you take the reversal and exit original position or just leave in original orders as an example this happned to me on the eujpy on alpari I left the original orders in didnt take the new IB setup.
Bob one scenario I wanted to ask you about what if you take the inside bar trade, then price never reaches 40 pips profit and forms another inside bar setup do you take the reversal and exit original position or just leave in original orders as an example this happned to me on the eujpy on alpari I left the original orders in didnt take the new IB setup.
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I don't have any data to support my position...but I would have done the same as you. How did that trade work out? Which method was more profitable?
I like your style of trading.
For the sake of argument let's say when you trade just this method how stressed do you feel?
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not that stressed cause its the 4hr, that has slowed me down. I used to trade the 5 min, 1 min i was like a crack addict over trading. I like to gamble so I have to be careful there is a thin emotional line between trading well and just gambling (I wont touch anything less than 4 hour). I was reading about another method that I am going to try but I will run that one on a separate account eventually after I test it out. I want to have different accounts and funds for different systems.
