Welcome anyone who tired of messy charts and is interested in trading "pure chart" in 5M chart
As I am requesting an indicator for my method, i would like to share this method to all of you.
News
27/3/2013 : fxdaytrader_ has shared an indicator @my request post (ConsecutiveHL AlertIndicator) for us which add sound alert & arrows)
26/3/2013 : zhdeef has shared an indicator @post 18 (az HHHLs LLLHs.ex4) for us which can modify the pattern size and the number of candle.
26/3/2013 : poruchik has shared an indicator @post 9 ( 3 candles)for us which shows also other patterns and almost all 3 consecutive bar pattern.
Thank you for looking at this thread. And thank the above members for providing the indicators and the members in this thread for giving me more idea.
As what Favorite said we may make a dashboard for future and combine the pros of above indicators.
Background
I trade forex since 2009, like many of you I've tried all "systems" in FF, "fishmen","mummypips","fxTSD", and maybe they didn't fit my style, they all didn't work for me. All the fancy indicators,messy chart, MAs, rsi,stoch, pivot, Fibonacci, traffic lights, MTF ( mother......f)..........oh god, many of you are FX millionaire and got 100% hit rate when using the above stuff, but I.........just cannot find anything work for me....then I use my own method, my own risk management, respect 1% rule, I am still alive after 4 years, and of course, it may mainly due to randomness and luck.
I've lived, I've loved, I've lost, I've paid some dues in forex and trading forex is still my most favorite activity in the world.
The rule
I mainly trade 5M EU in US session, and three consecutive high/low bar is a guide for me to trade.
The below is 24/3/2014 EU 5M chart for illustrating purpose.
Minimum requirement
1. The "3 bars" 's body is >~20 pips (For EU)
2. The close of the 2nd bar is higher than the the close of the 1st bar, the close of the 3rd bar is higher than the close of the 2nd bar.(bull)
The close of the 2nd bar is lower than the the close of the 1st bar, the close of the 3rd bar is lower than the close of the 2nd bar.(bear)
#It is the best if 3 bars are long body and have little wick (~< 20% of the whole candle)
#No inside bar.doji, stars,cross.....I want to see the momentum, not hesitation.
Time Frame & Currency : 5M EU CHART
Session : US session
Entry: 3 consecutive high/low bars ( the total size is more than 20 pips. Of course 20 pips is just a guide,that means different currency has different parameter,we all know this)
Stop loss: the top/bottom of the first bar.
Take profit: any level you want, this is the art of this trading "game" right? You may set target,pattern stop,using moving average,r/s, and i am suggesting trailing stop, I will show it later.
In fact, it is just a very easy trick, I am not going to convince anybody as all we know it is just some kind of classic pattern, and what i do is modify a little bit of it and use it as a guide in a small time frame. And for this method, the pattern itself is not the most important thing, we all know there are lots of 3 consecutive up or down bars, 3 white soldiers, 3 block cows,etc, throughout the whole chart, we just need to "qualify" it when its size is bigger than a certain level. WE NEED THE MOMENTUM!!!!!! I will show more chart in the coming future and hope you all may join it if interested. Thank you!
As I am requesting an indicator for my method, i would like to share this method to all of you.
News
27/3/2013 : fxdaytrader_ has shared an indicator @my request post (ConsecutiveHL AlertIndicator) for us which add sound alert & arrows)
26/3/2013 : zhdeef has shared an indicator @post 18 (az HHHLs LLLHs.ex4) for us which can modify the pattern size and the number of candle.
26/3/2013 : poruchik has shared an indicator @post 9 ( 3 candles)for us which shows also other patterns and almost all 3 consecutive bar pattern.
Thank you for looking at this thread. And thank the above members for providing the indicators and the members in this thread for giving me more idea.
As what Favorite said we may make a dashboard for future and combine the pros of above indicators.
Background
I trade forex since 2009, like many of you I've tried all "systems" in FF, "fishmen","mummypips","fxTSD", and maybe they didn't fit my style, they all didn't work for me. All the fancy indicators,messy chart, MAs, rsi,stoch, pivot, Fibonacci, traffic lights, MTF ( mother......f)..........oh god, many of you are FX millionaire and got 100% hit rate when using the above stuff, but I.........just cannot find anything work for me....then I use my own method, my own risk management, respect 1% rule, I am still alive after 4 years, and of course, it may mainly due to randomness and luck.
I've lived, I've loved, I've lost, I've paid some dues in forex and trading forex is still my most favorite activity in the world.
The rule
I mainly trade 5M EU in US session, and three consecutive high/low bar is a guide for me to trade.
The below is 24/3/2014 EU 5M chart for illustrating purpose.
Minimum requirement
1. The "3 bars" 's body is >~20 pips (For EU)
2. The close of the 2nd bar is higher than the the close of the 1st bar, the close of the 3rd bar is higher than the close of the 2nd bar.(bull)
The close of the 2nd bar is lower than the the close of the 1st bar, the close of the 3rd bar is lower than the close of the 2nd bar.(bear)
#It is the best if 3 bars are long body and have little wick (~< 20% of the whole candle)
#No inside bar.doji, stars,cross.....I want to see the momentum, not hesitation.
Time Frame & Currency : 5M EU CHART
Session : US session
Entry: 3 consecutive high/low bars ( the total size is more than 20 pips. Of course 20 pips is just a guide,that means different currency has different parameter,we all know this)
Stop loss: the top/bottom of the first bar.
Take profit: any level you want, this is the art of this trading "game" right? You may set target,pattern stop,using moving average,r/s, and i am suggesting trailing stop, I will show it later.
In fact, it is just a very easy trick, I am not going to convince anybody as all we know it is just some kind of classic pattern, and what i do is modify a little bit of it and use it as a guide in a small time frame. And for this method, the pattern itself is not the most important thing, we all know there are lots of 3 consecutive up or down bars, 3 white soldiers, 3 block cows,etc, throughout the whole chart, we just need to "qualify" it when its size is bigger than a certain level. WE NEED THE MOMENTUM!!!!!! I will show more chart in the coming future and hope you all may join it if interested. Thank you!
Attached Image (click to enlarge)
) and for each trade I make 25-30 pips, so generally I make 75 pips to 150 pips weekly. And of course, weeks make 75 pips is more than the week make 150 pips.
And it is enough for me. Thank you again!
