Disliked{quote} Great document, easy to read, harder to follow, reminds me of the old saying 'do as I say not as I do' But all those rules are worth more than any system, it's a per-requisite, if you can't follow them, you won't get anywhere. I broke about 5 yesterday I think!Ignored
- #65,142
- Jan 28, 2016 7:49am Jan 28, 2016 7:49am
{quote} which document? Can you share it?
- #65,146
- Jan 28, 2016 10:40am Jan 28, 2016 10:40am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
{quote} if you look at the wrong pairs and timeframe to trade. other wise it is like most other weeks. the shitty weeks are week 50, 51 and 52 .
the "shitty weeks" its new to me, what is going on with week 50,51,52? why that is "shitty weeks?
thanks
Joining The 10%
- #65,155
- Jan 28, 2016 2:27pm Jan 28, 2016 2:27pm
{quote} I struggle with this quite a bit. Am in the UK and watch the EURUSD, GBPUSD but always have feeling i should be focussing on other pairs too and still don't understand best times to trade each different pair.
Our friends outside the USA....
I believe the London Session is the best sesson to trade... The only reason I trade it on the
4hr charts because that's my normal sleep time. I put my S/L at the previous swing hi or low...
so if it swings up and down 30 pips let say... I'm unaware of it because I'm sleeping.
If my normal traing hours included the London Session I'd trade it on the 1hr charts. Then I'd
trade the first couple of hours on the N.Y session on the 1hr charts too. Then I'd be off the
charts until an hour or two before the London Session...
And page 46
My favorites are the 3 Amigos... E/U, G/U and A/U...
To those of you are struggling, including myself to an extent, I mainly with discipline due to other major stresses in my life at the moment, under the circumstances I'm finding it difficult to give trading the required focus at the moment, so breaking even for me is a major success in itself. Put what you're achieving into perspective, have a scale maybe from less failure to more success, just keep an eye on your progress and don't expect it to be instant, remember I'm not ashamed to say I've been at this for over 6 years and only now I feel I will definitely succeed this year. I am learning a new strategy on a live account and I'm very pleased with the results when put in context.
Now to the system itself, if you are struggling, why not do what I've decided to do, trade the 4 hour system, it really is easy especially with the stochastic, you don't really need to look at the daily chart, just follow the trend, easily identified by the swings, are they lower or higher than the previous? The swings are so much more consistent on the 4hr. Look for the right TDI cross, very reliable on the 4hr, match with the stochastic and have long term positions, move your stop loss to underneath the next swing. If I would have stuck to that yesterday, rather than put some one hour trades on the NY session, I would be up by 20%+ since the beginning of the year, now I'm at about 3%
As I keep saying I've learnt the hard way, started off scalping 5 min charts, then after a long while 15m, then 1Hr using MTF, but finally now I'm determined to stick to the easiest way the 4hr chart. There's something about forex that makes you try the hardest way first, it's just the way it is, nearly everyone does it.
The chart shows where I entered the GBPUSD, but I moved SL to break even after I'd added to the trade, as well as trying a long on a GBPJPY trade on the 1hr on NY, and BANG, so you see what I'm getting at? It's a great TMS setup, we have higher highs and higher lows, so it's good to assume that it's heading up. But like I said in my earlier post, I FLUNKED and quite bad, a great lesson in how to turn a great long winning trade into a BAD LOSER, but I'm over it, I'm not chasing the market, if there is no setup, I can wait until next week.
Now to the system itself, if you are struggling, why not do what I've decided to do, trade the 4 hour system, it really is easy especially with the stochastic, you don't really need to look at the daily chart, just follow the trend, easily identified by the swings, are they lower or higher than the previous? The swings are so much more consistent on the 4hr. Look for the right TDI cross, very reliable on the 4hr, match with the stochastic and have long term positions, move your stop loss to underneath the next swing. If I would have stuck to that yesterday, rather than put some one hour trades on the NY session, I would be up by 20%+ since the beginning of the year, now I'm at about 3%
As I keep saying I've learnt the hard way, started off scalping 5 min charts, then after a long while 15m, then 1Hr using MTF, but finally now I'm determined to stick to the easiest way the 4hr chart. There's something about forex that makes you try the hardest way first, it's just the way it is, nearly everyone does it.
The chart shows where I entered the GBPUSD, but I moved SL to break even after I'd added to the trade, as well as trying a long on a GBPJPY trade on the 1hr on NY, and BANG, so you see what I'm getting at? It's a great TMS setup, we have higher highs and higher lows, so it's good to assume that it's heading up. But like I said in my earlier post, I FLUNKED and quite bad, a great lesson in how to turn a great long winning trade into a BAD LOSER, but I'm over it, I'm not chasing the market, if there is no setup, I can wait until next week.
- #65,158
- Jan 28, 2016 5:59pm Jan 28, 2016 5:59pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #65,159
- Jan 28, 2016 6:06pm Jan 28, 2016 6:06pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #65,160
- Jan 28, 2016 6:10pm Jan 28, 2016 6:10pm
Hi friends,
H1 Trading for 2015 pdf by Emmanuel
Cheers,
H1 Trading for 2015 pdf by Emmanuel
Cheers,