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Weekly/h4 trend trading - flow

  • #21
  • Mar 29, 2014 3:38pm Mar 29, 2014 3:38pm
Hi 60mm,
Thanks for this thread.If you may know, I'm one of your many admirers here on FF.I do see trading sense in your methods/systems.Pls do explain how you use the daily 50 sma for bais and trade on H4.

Regards
ADESHINA.
  • #22
  • Mar 29, 2014 4:23pm Mar 29, 2014 4:23pm
Quoting Ifebaba94
Hi 60mm, Thanks for this thread.If you may know, I'm one of your many admirers here on FF.I do see trading sense in your methods/systems.Pls do explain how you use the daily 50 sma for bais and trade on H4. Regards ADESHINA.
thanks Ifebaba, always nice to hear...

Here is a basic outline of this trend trading (you will notice it is very similar to my other strats.)

1. Put the 5osma on the daily chart, if price is closing over the trend is long, if price is closing under the trend is short. (you can use 100sma also... both work well)

2. If the trend is long we go to H4 chart and we wait for a/ price to make a new low for the week. b/ a h4 bar to close up. c/ price to break out of the high.

3. enter with 2 positions, 1 tp at recent highs on h4, the other is a position trade to stack for long trends

That is it, really simple, the win rate is low but when you get the trends the wins can be massive.

It incorporates the 3 elements a strategy needs:

1. trend following
2. entering at extremes
3. flexible money management

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tradewith60
  • #23
  • Mar 30, 2014 5:04pm Mar 30, 2014 5:04pm
week 2:

Short EA
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tradewith60
  • #24
  • Mar 30, 2014 10:49pm Mar 30, 2014 10:49pm
Hi,

I'm really liking your entry technique to combine with the millipede strategy. I was just wondering why your shorting EA since we're coming down to the 200EMA on the daily? I'm kind of looking at taking a long here...using your entry technique, of course. Your thoughts?

Mike
  • #25
  • Mar 31, 2014 1:35am Mar 31, 2014 1:35am
[quote=60minuteman;7371721]{quote} thanks Ifebaba, always nice to hear... Here is a basic outline of this trend trading (you will notice it is very similar to my other strats.) 1. Put the 5osma on the daily chart, if price is closing over the trend is long, if price is closing under the trend is short. (you can use 100sma also... both work well) 2. If the trend is long we go to H4 chart and we wait for a/ price to make a new low for the week. b/ a h4 bar to close up. c/ price to break out of

Thanks 60mm.I do appreciate your prompt response.One question;do you stack as did pipseasy.He stacked aggressively when the odd is on his sides.I believe that having just a position opened during such period is not ideal.Anticipating your reply.

Regards,
ADESHINA.
  • #26
  • Mar 31, 2014 2:53am Mar 31, 2014 2:53am
"2. If the trend is long we go to H4 chart and we wait for a/ price to make a new low for the week. b/ a h4 bar to close up. c/ price to break out of the high."

Hi 60M, the bit about "price to break out of the high" is not very clear. High of what? And are you saying all 3 conditions (a, b & c) have to be met? Many thnaks
  • #27
  • Mar 31, 2014 5:31am Mar 31, 2014 5:31am
Quoting danjuma
"2. If the trend is long we go to H4 chart and we wait for a/ price to make a new low for the week. b/ a h4 bar to close up. c/ price to break out of the high." Hi 60M, the bit about "price to break out of the high" is not very clear. High of what? And are you saying all 3 conditions (a, b & c) have to be met? Many thnaks
the high/low of the h4 bar.
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a slightly more agresive approach is to just use A and C
tradewith60
  • #28
  • Mar 31, 2014 5:33am Mar 31, 2014 5:33am
Quoting towtow
Hi, I'm really liking your entry technique to combine with the millipede strategy. I was just wondering why your shorting EA since we're coming down to the 200EMA on the daily? I'm kind of looking at taking a long here...using your entry technique, of course. Your thoughts? Mike
i'm just using daily closing over/under the sma to decide the bias, no analysis - just a simple trend following/money management approach.
tradewith60
  • #29
  • Mar 31, 2014 6:56am Mar 31, 2014 6:56am
Quoting 60minuteman
{quote} the high/low of the h4 bar. {image} a slightly more agresive approach is to just use A and C
Many thanks.
  • #30
  • Mar 31, 2014 7:46am Mar 31, 2014 7:46am
Quoting Ifebaba94
Quoting 60minuteman
{quote} thanks Ifebaba, always nice to hear... Here is a basic outline of this trend trading (you will notice it is very similar to my other strats.) 1. Put the 5osma on the daily chart, if price is closing over the trend is long, if price is closing under the trend is short. (you can use 100sma also... both work well) 2. If the trend is long we go to H4 chart and we wait for a/ price to make a new low for the week. b/ a h4 bar to close up. c/ price to break out of Thanks 60mm.I do appreciate your prompt response.One question;do
...
Here i'm just stacking the high/low of the weekly - I take 2 entries, 1 I target recent highs lows (this is used to limit drawdowns and smooth equity curves). the other entry is stacked for weekly trends.

You can do a similar thing using entries stacked at the high/low of each day using H1 to enter.
tradewith60
  • #31
  • Mar 31, 2014 7:51am Mar 31, 2014 7:51am
Hi 60mm,
I, too, have been following your threads and I am inclining towards your methods. I have been a lurker on FF for a few years - this is my first post.
I have been trading for about 8 years, not very successfully. My problem has always been finding a good entry. Your entry method here looks really good - it's one of those "Why didn't I think of that?" situations. You also have more patience than a lot of OPs when people ask the same questions over and over again.
With regard to profit targets, I have recently started to target 10XR in my entries.
  • #32
  • Mar 31, 2014 7:58am Mar 31, 2014 7:58am
GJ H4 Long
Attached Image
tradewith60
  • #33
  • Mar 31, 2014 8:20am Mar 31, 2014 8:20am
Quoting bobbles
Hi 60mm, I, too, have been following your threads and I am inclining towards your methods. I have been a lurker on FF for a few years - this is my first post. I have been trading for about 8 years, not very successfully. My problem has always been finding a good entry. Your entry method here looks really good - it's one of those "Why didn't I think of that?" situations. You also have more patience than a lot of OPs when people ask the same questions over and over again. With regard to profit targets, I have recently started to target 10XR in my...
Hey bobbles,

I personally think the big RR is the answer, and that is the whole thought process here. We move completely away from trying to pick entries that will have a high win rate and instead we focus on picking the best locations and use money management to make big profits.
The downside is you have to learn to be patient and accept the drawdowns - but, when the trend does happen it pays your debt and gives a very nice chunk of profit...

Low win rate, high RR - the sort of strategies we never see retail traders use and often read about funds/banks using.... and who is making all the money i wonder?
tradewith60
  • #34
  • Edited 9:38am Mar 31, 2014 9:02am | Edited 9:38am
possible short on EA coming up, looking for a break of the low to add to my position

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short triggered
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tradewith60
  • #35
  • Edited 2:14pm Mar 31, 2014 1:47pm | Edited 2:14pm
Added to my gold shorts
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tradewith60
  • #36
  • Mar 31, 2014 1:55pm Mar 31, 2014 1:55pm
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tradewith60
  • #37
  • Mar 31, 2014 5:45pm Mar 31, 2014 5:45pm
Hello 60MM okay with you? Good to see you starting more a new journey in their trades. Here I am again to accompany your thread and try to learn a little more with 60 MinuteMan. Thanks for sharing.
I do not notice any question, do not do because my English language is not very good, and the questions can exit without the logical I want.
Best regards,
JVBS
Work very hard until you get there (excuse my english)
  • #38
  • Mar 31, 2014 6:15pm Mar 31, 2014 6:15pm
Quoting jvbs
Hello 60MM okay with you? Good to see you starting more a new journey in their trades. Here I am again to accompany your thread and try to learn a little more with 60 MinuteMan. Thanks for sharing. I do not notice any question, do not do because my English language is not very good, and the questions can exit without the logical I want. Best regards, JVBS
Ola jvbs, nice to see you again... still picking a trend and waiting for the retrace... just aiming for much bigger wins now...
tradewith60
  • #39
  • Apr 1, 2014 3:22am Apr 1, 2014 3:22am
Hi 60minuteman,

Thanks for sharing your journal here and answering queries. I have been resonating with it and the Millipede thread. I really like the simplicity of your entry method. Just wondering if you could share how you determine your stop loss? Also - do you not look to move any of your positions to BE?

Finally (and hope I'm not overstaying my welcome) - do you consider that fewer pairs gives you more chance to focus? Graeme seemed to advocate participation in as many pairs as possible - could you see yourself managing this method well with 10 or 20 pairs?

Many Thanks,

Garrick, NZ
  • #40
  • Apr 1, 2014 3:48am Apr 1, 2014 3:48am
Quoting studio1
Hi 60minuteman, Thanks for sharing your journal here and answering queries. I have been resonating with it and the Millipede thread. I really like the simplicity of your entry method. Just wondering if you could share how you determine your stop loss? Also - do you not look to move any of your positions to BE? Finally (and hope I'm not overstaying my welcome) - do you consider that fewer pairs gives you more chance to focus? Graeme seemed to advocate participation in as many pairs as possible - could you see yourself managing this method well with...
Hi studio..

1.stoploss the other side of the h4 swing. If it is the low of the week then it's a good location in a trend.

2. I'm flexible on that, because the market is so random it's impossible to quantify which is better, sometimes the market will keep tapping you out if you move to break even, only to turn and go your way 1000 pips, and sometimes moving to break even will save you lots of money. My gut instinct is that moving to b.e quickly is not a good idea, but I don't have data to back it up, and relying on past data for markets is flimsy at best.

3. using H4 with a trend bias you could easily trade many more pairs, but when I change my approach, first I back test to gain some belief. Then I do some forward testing to see if I can execute it well.... sometimes you find something that looks great but when you come to trade it, it feels wrong (i had that with lower TF's to enter)... Right now i'm testing this approach with a small live account, feels good so far. I want to test a daily/monthly version soon too.

let me know how you get on
tradewith60
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