H4 Power

Quoting lucariga

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Hey 60, can you help me with this pair? Cause I think I'm missing something. GBPUSD Last week engulfed UP, so this week UP until AT LEAST the 1st Monthly SR {image} {image} Let's go down to the 4H to wait for an engulfing UP to enter {image} 3 entries, 3 loss. What am I doing wrong?

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Quoting 60minuteman

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{quote} 1. nothing wrong apart from expecting to win every trade, do you know that 90% win rate you will still have 3 consecutive losers. 2. why would you take entry 2 when entry 1 was still alive and price had not moved. I suggest you go back to the posts on expectancy, then do the exercise of trading and holding every engulf, then look at it again. It's almost like saying messi is a rubbish footballer because he had 3 shots miss.....

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Quoting lucariga

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{quote} Hi 60, 1. I don't want to win every trade, I just want to make sure I'm on the right track with the method, because is the 1st week I trade like this. 2. I took the 2nd trade because, at that moment, Trade 1 was winning and we always add to a winning position, don't we? Thanks

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Quoting 60minuteman

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{quote} 1. nothing wrong apart from expecting to win every trade, do you know that 90% win rate you will still have 3 consecutive losers. 2. why would you take entry 2 when entry 1 was still alive and price had not moved. I suggest you go back to the posts on expectancy, then do the exercise of trading and holding every engulf, then look at it again. It's almost like saying messi is a rubbish footballer because he had 3 shots miss.....

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Quoting lucariga

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Hey 60, can you help me with this pair? Cause I think I'm missing something. GBPUSD Last week engulfed UP, so this week UP until AT LEAST the 1st Monthly SR {image} {image} Let's go down to the 4H to wait for an engulfing UP to enter {image} 3 entries, 3 loss. What am I doing wrong?

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Quoting lucariga

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{quote} This is the 4th loss in a row on this pair, but just after stopping me out, the price made a big bounce on my direction. How many pips of buffer should I use on 4H under the low? With 4 pips I wouldn't have been stopped out.... but I used only 1!!! {image}

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Quoting 60minuteman

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your win rate is gonna be around the 50% mark... some people will tell you there's is much higher, but over time, real time, that's where they will average out. So you have to approach the market with a buy and hold mentality. I urge everyone again to pull up a chart, take a 4 week period and mark all the engulfs and 2 bar engulfs. If you took all these trades and held them until a trend develops what would your results be like? Compare lots of different 4 week periods, see how much bigger the good weeks are than the bad weeks? See how your win...

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Quoting FX_California

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Hi Lucariga: I will also be interested to see the results. Looking at 60m's chart with some result, I would suggest the following although I am a novice even though I have been a long time member. 1&2) Take a postion with every engulfing, don't move SL, only close when the reverse engulgfing take place. Just my opinion and I may be totally wrong. Thanks any way and special thanks to 60m for his dedicated services. -FX_California

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Quoting 60minuteman

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your win rate is gonna be around the 50% mark... some people will tell you there's is much higher, but over time, real time, that's where they will average out. So you have to approach the market with a buy and hold mentality. I urge everyone again to pull up a chart, take a 4 week period and mark all the engulfs and 2 bar engulfs. If you took all these trades and held them until a trend develops what would your results be like? Compare lots of different 4 week periods, see how much bigger the good weeks are than the bad weeks? See how your win...

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Quoting jvbs

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{quote} 1 º my point of view, on the weekly chart it happened one engolf in favor of the weekly tendency, we go to of 4 hour chart and enter when happens one engolfo in the direction of the weekly engolfo (following the weekly trend) of then go adding positions that will only be closed when a engolf to the contrary sense appears in weekly chart. Then re-examine the weekly chart and reapply the 1st point. 60 minuteman has logic as I say? Thanks JVBS Apologies if my english is not good. I hope you understand my point of view

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Quoting blackcanoa

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Hello guys I have to say thanks for forexfactory. I found here the Freebie System to improve my trade plus some indicator I found to. I wanna share this with you guys. {image}

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Quoting lucariga

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{quote} I think you posted in a wrong thread. Can you delete your posts? Thanks

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Quoting bradu

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{quote} maybe he did, but the colours are a joy for the eyes im sick of same charts from 60, we needed some colour by the way, glad youre back here 60

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Quoting lucariga

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{quote} This makes sense, but, IMO, if we don't take profit BEFORE the weekly engulfs against us, we probably transform a series of winning trades in a series of Break even if not looser trades. That because when weekly engulfs against us, usually is a big move....

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Quoting 60minuteman

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Put simply, nearly all trading system would make profit if you hold all your trades much longer. Entries and losers are mostly irrelevant if you make regular big wins. Obviously you want to be in a good location, like where a direction change (swing) occurs. (engulf?). If you do the test you will realize that the market continually gives you these wins if you just accept some losses along the way. I have not mentioned exits yet.... But the secret is to let the market decide when you should take profit and only close some of your positions.

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