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H4 Power

  • #101
  • Apr 15, 2013 2:01pm Apr 15, 2013 2:01pm
Quoting PipMeUp
I'm afraid there is nothing to master. I turned the question in all the possible ways (I think). The results never beat "just close" when you play that game. It happens in any system and so far my conclusion is that if the system is a winner it yields (on average) its expectancy for each trade. So I'd better take all the trades independently of the fact that I'm already in postition; never touching one because of any other... But it means that I'll (n)hegde the positions or double the risk if the two positions are too near one of the other....
when you say promote to a higher tf? do you mean, see h4 engulf, take the retrace entry on m15, then hold for the daily move?

explain, im confused?

If you mean trade it on daily, wait for daily to engulf then take retrace entry on h1, that works
tradewith60
  • #102
  • Apr 15, 2013 2:03pm Apr 15, 2013 2:03pm
targeting next weekly s/r on EJ

EJ WEEKLY chart and next sr target
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tradewith60
  • #103
  • Apr 15, 2013 3:00pm Apr 15, 2013 3:00pm
150 EJ h4 tp hit
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tradewith60
  • #104
  • Apr 15, 2013 3:21pm Apr 15, 2013 3:21pm
Quoting 60minuteman
when you say promote to a higher tf? do you mean, see h4 engulf, take the retrace entry on m15, then hold for the daily move? explain, im confused? If you mean trade it on daily, wait for daily to engulf then take retrace entry on h1, that works
Say I'm short from H4. I trail my stop on the H4. I use the 2 previous H4 highest (to allow for a minor pullback/continuation). At the end of the day the trade is still alive. Daily prints a candle that confirms the down move (or that you would consider an entry if it happened on H4). The idea is to stop trailing the stop and wait. When/If daily continues in such a way that the 2 previous days high become lower than the SL then I resume the trailing now using the 2-day High. The trade is now managed from D1 (promoted). Easy to say way harder to do. No survivor to show (will see if my G/U short survives). Not all the trades can be promoted it depends on where they happen to be in the big picture.
No greed. No fear. Just maths.
  • #105
  • Apr 15, 2013 3:27pm Apr 15, 2013 3:27pm
finally out for 200
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tradewith60
  • #106
  • Apr 15, 2013 3:29pm Apr 15, 2013 3:29pm
Quoting PipMeUp
Say I'm short from H4. I trail my stop on the H4. I use the 2 previous H4 highest (to allow for a minor pullback/continuation). At the end of the day the trade is still alive. Daily prints a candle that confirms the down move (or that you would consider an entry if it happened on H4). The idea is to stop trailing the stop and wait. When/If daily continues in such a way that the 2 previous days high become lower than the SL then I resume the trailing now using the 2-day High. The trade is now managed from D1 (promoted). Easy to say way harder to...
ok I understand now, what you need to do is wait for weekly to turn / close below/above s/r, then you need to get in with h4 at the weekly retrace point.
If by the end of the day daily has closed in the direction of weekly, you continue to hold.
tradewith60
  • #107
  • Apr 15, 2013 3:48pm Apr 15, 2013 3:48pm
Haha nice start to the week and nice start to your thread. Planning to take a go on wednesday. Good on yah. 200 pips was what reward on the trade?
  • #108
  • Apr 15, 2013 4:03pm Apr 15, 2013 4:03pm
Can you tell me on this chart which one of the engulf bar are valid ?

Thanks
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  • #109
  • Apr 15, 2013 4:08pm Apr 15, 2013 4:08pm
How do you draw your weekly, daily and 4 hour S/R? Thanks
  • #110
  • Apr 15, 2013 5:12pm Apr 15, 2013 5:12pm
Quoting relaxtrading
Can you tell me on this chart which one of the engulf bar are valid ? Thanks {image}

Hi Relax, damn lots of action in there eh?

I have gone through all of the engulfs and tried to say how you could of traded it to the rules, obviously it is hindsight... best I can do and tried to be 100% honest, but quite unusual to have so many engulfs in opposite directions and the pair to be pretty much just trending down.

Anyway, first chart is H4, rest are the m15 entries, in order, I have split the h4 periods with red vertical lines so you can see when each h4 closed on m15.
Attached Image(s) (click to enlarge)
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tradewith60
  • #111
  • Apr 15, 2013 5:21pm Apr 15, 2013 5:21pm
Quoting aelimian
How do you draw your weekly, daily and 4 hour S/R? Thanks
Theres a page on this site called "support and resistance strike zones" check it out.. ask me again if you're still unsure

https://60minuteman.jux.com/
tradewith60
  • #112
  • Apr 16, 2013 2:22am Apr 16, 2013 2:22am
Would I be mad to consider a Gold/Silver long now?
  • #113
  • Apr 16, 2013 2:42am Apr 16, 2013 2:42am
Quoting 60minuteman
Theres a page on this site called "support and resistance strike zones" check it out.. ask me again if you're still unsure https://60minuteman.jux.com/
Now that's an unusual trading website, 60min - you have to navigate past the music & the young ladies to find the charts...
  • #114
  • Apr 16, 2013 3:21am Apr 16, 2013 3:21am
Nice website


Quoting 60minuteman
Theres a page on this site called "support and resistance strike zones" check it out.. ask me again if you're still unsure https://60minuteman.jux.com/
  • #115
  • Apr 16, 2013 3:24am Apr 16, 2013 3:24am
Looking for a 15 minute entry based on this 4H bar on EU, comments welcome...
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  • #116
  • Apr 16, 2013 3:39am Apr 16, 2013 3:39am
Quoting pasopvirpot
Looking for a 15 minute entry based on this 4H bar on EU, comments welcome... {image}
Hi pasopvirot

I wouldn't take that trade. Its too risky for my taste. No clear direction, although it looks like going down I would skip that trade and wait for better setup.
Like 60 mm said: TREND>PRICE ACTION>MOMENTUM . Not just any engulf or IB. I like to see clearly what is going on. But that just me.

Regards
A.
  • #117
  • Apr 16, 2013 3:41am Apr 16, 2013 3:41am
Quoting pasopvirpot
Looking for a 15 minute entry based on this 4H bar on EU, comments welcome... {image}
Looks like some strong weekly support sitting at 3039... might want to wait for a break of that...
  • #118
  • Apr 16, 2013 4:09am Apr 16, 2013 4:09am
Quoting pasopvirpot
Would I be mad to consider a Gold/Silver long now?
well you are asking the question?
tradewith60
  • #119
  • Apr 16, 2013 4:09am Apr 16, 2013 4:09am
Yeah, didn't take the trade. Based on system could've entered at the arrow but the trouble area 1.3030 just too close, would like to see that level breached.
Attached Image
  • #120
  • Apr 16, 2013 4:13am Apr 16, 2013 4:13am
Quoting prof8t
Looks like some strong weekly support sitting at 3039... might want to wait for a break of that...
EU been a bit tricky, lloks like daily is retracing to the weekly s/r to go long
tradewith60
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