Trading Forex only 4 hours a day... Not more than that

Hi Guys

This will be a one of the thread which was inspired from Pipeasy thread....
Please go through the above thread and if you have any question feel free to ask...

http://www.forexfactory.com/showthread.php?t=245149

Aim: This thread is dedicated to stacking.Yes,you heard it rite stacking.
We will keep stacking until trend ends.we will trade both sides of the market.
point to remember is we are not Hedging.
After three years down the line we will work less and earn more.

If you don't like this thread move on..You don't have to waste your time here...

I am following only three rules....

Participation:We need to be in the market if we want to earn.It is waste of time speculating from side line about movement of the market.Just be in the game and bring queen home.Yes,first step is try to participate in the market.

Low-Risk Entries:If you want to earn more then minimize your losses and let your profits run...but we have to put this into real-market...here comes yours entry methods....

Growth:You saw perfect entry on a particular pair which you have anticipated for a very long time....you entered the trade and earned 200 pips...do you think is it cool...no...stacking 'n' number of trades and earning more than 'n'*200 is cooll....

To summarize my first post...the main aim of my trading style is to do less work and earn more money over a period of time....

Just look at my stacking chats...i will post more of my charts as this thread progresses....

The indicators i use are 5/10 ema closed and 200 ema closed.No more indicators.We all know that ema crossovers have flaws because they are lagging indicators.

I use 5/10 ema to know the strength of the trend.The angle of inclination and the gap between them.

200ema is used as support and resistance.


These are two indicators i use.i will post you with some more charts.

hey oathbreaker,
looking forward to watching you grow some long legs
cheers
geoff

Hi Geoffrod

Thanks..i will show you how i will grow long legs...

Your analysis and comments are most welcome.

As i told you in my previous indicator post that i use 5/10/200 ema's..that doesn't mean that i use this move averages to enter my trade....

Let,me tell to everyone that before any indicator point you to the direction of trend,there will be initial moment in the candle which tells you what price action is doing....

Our indicators are either leading or lagging indicators...but candles tells us the real story....yes,they tell us what price action is doing rite now....

so instead of following Price action-->indicator-->trade

You need to develop your mind to see price action-->trade

Here is the final summary of my post...each candle will tell you different story so better follow the story of the candles rather than following the indicators...we use indicators to only gauge the moment of the trend and s/r.

I will show you some charts in the next post....

As per our three above steps we need to be in the market with low-risk and we need to have more than one leg.

To participate we need to select the pairs first.Yes,we have to look at pairs which are in trend or range.We aren't interested in pairs which are in range.

I select two pairs at starting of the week.so,by short listing my pair i have decide to participate in the market in particular pair.

Low-risk entries should be practiced by your-self.According,to me i spent only 300 pips on any pair i select on any particular week.Here we are selecting two pairs,so my hard spending will be 600 pips in total.I have never spent 600 pips.At worst case scenario we will have 2 to 3 legs which will be surviving and these legs will cover our losses if there are any.

Growth: I don't spend all 300 pips on one leg.I spend my s/l on 5-6 legs.i.e.,per leg i will be spending only 60 pips that is maximum....it will be hit if there is retrace in the rend.

I open my trade at open of my daily candle.As i am not a intra-day trader i am not worried about instant fulfillment.I will leave it with s/l of 60 pips.If the position survives i will move this trade to B/E and open another trade.Now,the first trade is free leg.so,i won't loose anything even if it dies at b/e.

These are the rules i follow.

We have more than 30 pairs available on any trading platform.So,we have to select proper pair.

As i said earlier in my analysis i use candlestick analysis.I don't use any indicator to select the pair.

As i pointed to a candle in the chart.It tells us tragic story....Most of us forget about the wicks...

Wick is first sign of weakness....

In any of my analysis i use wick to gauge the strength of the trend.

In the chart,i am showing a candle which is having a large wick...previous bar are large but this candle is short...

The story this candle telling us is that buyers tried to push up but sellers are strong and closed it almost near to open.Which shows sellers are in control.

If you have any doubts you can visit PIPEASY thread to get clear picture.
Feel free to ask your doubt if you have any?

But,take a look at PIPEASY thread.....

Hi Oathbreaker,

I have always been inerested in this type of trading due to the fact that one does not have to be on the puter all the time. I am just moving from 5m - 15m scalping to H1 with a vew of moving on to H4 TF. i never registered much success with my short time scalping although the H1 trades are giving me better results now. S I am convinced long TF are better. I will be following your thread as it develops!

Thanks.

Didn't find the thread.
Can you post the link to PIPEASY thread?.

Thanks.

Hey Tom,

Check out the thread named, "Building an equity millipede"...it is one of FF's best.

Jon

oathbreaker

how do you select trending pairs?

Hi johNal

Welcome to the thread.I hope this thread will provide you with new prospective in your trading.

Hi tomomi72003

i added the link on my first post please take a look.Read the entire thread,that will add different prospective to your trading style.Don't get panic by seening the length of thread...take your time to read the thread slowly...

Oatbreaker

How do you select which pairs to trade?

Thank

I will post some charts this weekend and i will show you how i select the pairs...

hi oathbreaker
as i'm a beginner, hope can learn more this thread... especially in candlestick charting

Subscribed!

Thanks.

Hi here is my analysis on my first pair for coming week...

This is AUD/NZD pair....

So,this week i will be trading this pair....