Need help with my H4 TF settings

Hi All,

I'm a novice & been at this for 2 years still no success. In the first week of Jan made good $200 but since then been loosing that money again.

I think I need help badly now b4 I give this up. Pls see my attached system & pls comment on my system & settings for H4 TF that I use.

Indicators List:
1. Heiken Ashi ; EMA 50 & EMA 200; Support & Resistance indicator

2. MACD - 12-26-9;

3. Stochastic - 14-3-3;

4. ADX - 14;

5. CCI - 50;

6 Standard Deviation - 14;

7. ATR - 14;

8. Choppy MArket Index - 30,10;

Thanks & Appreciate it.

This is too complicated mubinirl, you will get confused in direction and timing. I created this H4 chart for you. One indicator and just trendlines. This type setup will always tell you which direction the next trade is going to be. If you miss it, just wait for the next one. The trap is a pause and continuation. This should trade at least once a week. Too slow for me personally.

The turns may or may not happen where I indicated. I'm simply waiting for some weakness that is confirmed by the MACD and I'll sell. Hopefully where I drew the ellipse. Then I'll be waiting to close and reverse at the bottom ellipse.

Good luck.

https://4mg3lw.bay.livefilestore.com...yH4.png?psid=1

jadedmikey has the right idea. price action is king, keep it simple and focus on support and resistance.

most importantly, though, is you seem to be very focused on technicals to find your entry/exit. this is important, but that you were up $200 and lost it suggests potential risk management issues as well. accepting small losses while allowing winners to develop to the proper size is part of the psychological challenge of trading and it is essential that this challenge be met and conquered.

You've convinced yourself that indicators are an answer.

Indicators are not an answer.

The market moves based on orders. Indicators can suggest where the market may be overbought or oversold, but at the end of the day these are just suggestions, and these suggestions are not consistently right.

Support/Resistance, and a firm grasp of MM and TM.

Devise a system that mathematically puts you in favor of success during normal market behaviour, and keeps you from disaster during irregular market moves.

that chart makes my eyes bleed....

on a serious not,e too many indicators, way too many for your own good.

keep it simple, price action, heiken ashi is fine, and support and resistance. just listen to what the market is telling you, not the indicators