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Trade with 60

  • #681
  • Mar 10, 2016 3:58am Mar 10, 2016 3:58am
Quoting Chorlton
{quote} Hi 60MM, Thanks for the reply. This is now working using my original settings. All I have done is restart MT4 today and now the correct hourly candles are being highlighted !!! My code hasn't changed so the issue must have been within MT4 Anyway, now I can focus on the actual method... thanks again.....
Here's my template.You need to change hours only. Cheers
Attached File(s)
File Type: tpl 60 minute man original.tpl   28 KB | 524 downloads
Trade with 60
  • #682
  • Mar 10, 2016 4:24am Mar 10, 2016 4:24am
Quoting kumetto
{quote} Here's my template.You need to change hours only. Cheers {file}
Thanks Kumetto...

I'm going to PM you if thats ok.
  • #683
  • Mar 10, 2016 4:25am Mar 10, 2016 4:25am
Quoting Chorlton
{quote} Thanks Kumetto... I'm going to PM you if thats ok.
Ok no problem
Trade with 60
  • #684
  • Mar 10, 2016 4:50am Mar 10, 2016 4:50am
How to set time and time shift(my broker is GMT 0 so my timeshift is set to 0) on ant-GUBreakout_V.0.4.1
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Trade with 60
  • #685
  • Mar 10, 2016 5:28am Mar 10, 2016 5:28am
Quoting kumetto
How to set time and time shift(my broker is GMT 0 so my timeshift is set to 0) on ant-GUBreakout_V.0.4.1 {image} {image}
Hi Kumetto,

Unfortunately, I don't have the Indicators List option within my menu
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  • #686
  • Edited 7:34am Mar 10, 2016 6:46am | Edited 7:34am
Quoting Chorlton
{quote} Hi Kumetto, Unfortunately, I don't have the Indicators List option within my menu {image}
Unrar the indies.rar and put them like in pictures
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File Type: rar indies.rar   34 KB | 556 downloads

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Trade with 60
  • #687
  • Mar 11, 2016 7:25am Mar 11, 2016 7:25am
Chill out
Inserted Video
Trade with 60
  • #688
  • Mar 11, 2016 9:05am Mar 11, 2016 9:05am
Closed today EU and GU for +74 overall. Overall for the week +85 I traded only two days.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 20 KB
Click to Enlarge Name: GBPUSDH1.png Size: 21 KB
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  • #689
  • Mar 11, 2016 9:30am Mar 11, 2016 9:30am
Quoting kumetto
Closed today EU and GU for +74 overall. Overall for the week +85 I traded only two days. {image} {image}
Thanks for posting your charts you are a great help studying this method, but could you just point out why you did not reverse on the break of the 1st black down bar on the Gbp-Usd before the large range green up bar were you took your profit please
  • #690
  • Mar 13, 2016 6:25pm Mar 13, 2016 6:25pm
Hey guys is there an EA for this type of trading?
  • #691
  • Mar 13, 2016 7:00pm Mar 13, 2016 7:00pm
Quoting Checkz
Hey guys is there an EA for this type of trading?
http://www.forexfactory.com/showthread.php?t=182841
  • #692
  • Mar 15, 2016 3:38am Mar 15, 2016 3:38am
Quoting OAPDave
{quote} Thanks for posting your charts you are a great help studying this method, but could you just point out why you did not reverse on the break of the 1st black down bar on the Gbp-Usd before the large range green up bar were you took your profit please
Hi Dave,no point of reversing since I'm already long.Only wait for short as hedge trade.
Trade with 60
  • #693
  • Mar 15, 2016 4:38am Mar 15, 2016 4:38am
Quoting kumetto
{quote} Hi Dave,no point of reversing since I'm already long.Only wait for short as hedge trade.
As always thanks for clearing that up, your a great help with this method by keep posting your charts, thanks again
  • #694
  • Mar 16, 2016 1:31am Mar 16, 2016 1:31am
Here's the situation.EU hedged from yesterday,GU long stopped out ,short still running,I'll look for long or good chance to close short with decent profit
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  • #695
  • Mar 16, 2016 2:05am Mar 16, 2016 2:05am
Quoting kumetto
Here's the situation.EU hedged from yesterday,GU long stopped out ,short still running,I'll look for long or good chance to close short with decent profit {image} {image}
Thanks for posting your current charts you are indeed a great help to understanding this method
  • #696
  • Mar 16, 2016 1:20pm Mar 16, 2016 1:20pm
Today trades recovered loses on EU and finish my day with -1 pips.(EU +10-40-35-37+50=-52).GU -48 +90 +9=+51.
And yes,I'm trading news. Only news that I don't trade is NFP.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 58 KB
Click to Enlarge Name: GBPUSDH1.png Size: 43 KB
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  • #697
  • Mar 16, 2016 4:43pm Mar 16, 2016 4:43pm
Im sure I have seen a thread on off shore brokers on this site?
tradewith60
  • #698
  • Mar 17, 2016 5:58am Mar 17, 2016 5:58am
Quoting 60minuteman
{image}
Hi Darren,

I just finished reading the whole thread - the strategy is amazing in its simplicity !

However, one thing is confusing me:
In post 285, you summarized the strategy in a few words:

1. coming from the high of the day
2. close down
3. breakout of the low of the close down bar

Then recently, you posted examples of one-coloured-candle charts.

How do we recognize a close down on these charts ? Or was there a change of the rules, that I missed ?

Thanks, Oliver
  • #699
  • Mar 17, 2016 7:02am Mar 17, 2016 7:02am
Quoting osfx
{quote} Hi Darren, I just finished reading the whole thread - the strategy is amazing in its simplicity ! However, one thing is confusing me: In post 285, you summarized the strategy in a few words: 1. coming from the high of the day 2. close down 3. breakout of the low of the close down bar Then recently, you posted examples of one-coloured-candle charts. How do we recognize a close down on these charts ? Or was there a change of the rules, that I missed ? Thanks, Oliver
Hi Oliver, thanks for the good question!

Ok so essentially there are 2 things to consider. 1. the logic of how and why a system should work and 2. the rules we use to give us a structure to work within.

So first the logic: (this is my opinion and people may or may not agree)
Market price just moves up and down. A random distribution of small and large moves in a direction before turning around and moving in the opposite direction. All we really need to do is sell when price is going down and buy when price is going up. The opportunity to make profit comes from 1. our exit decision, and 2. the market movement. In other words the entry is largely irrelevant - if we participate in the direction changes we will be in the market when it moves and therefore have an opportunity to profit from them. Over the long run your average winner will be larger than your average loser.

the rules:
To operate a system consistently as human beings we need rules to give us a structure and make the decision process easier - it is not possible to say which rules are best because they are market dependent.
The rules that are important are: 1. entry should be a breakout with no analysis (during peak market hours for H1 or below) 2. when already in the market we should exit in profit or hedge our position when an opposing trade triggers. All you really need to do is rule 1 and 2...

So the earlier example I gave is just an example - and can be modified to suit your personal preference, one example is removing the candle colour element. Another is just trading new hi/lows of the day, another is trading every breakout wether it is the high / low or not. Similarly you can vary the exits, stack multiple trades in one direction, scalp small wins etc etc etc...

When I started the thread I wanted to give an example of the rules you could use that would appeal to people coming from a TA background but prepared to try something different - at the same time I think it is really important to see the rules as flexible and more for structure than anything else. In the end the most successful traders in the group have taken the logic and made it their own - belief in what you are doing counts for a lot over the long term.

Final point - just remember the big idea is, you don't have to use analysis - a simple breakout entry and good trade management will give you consistency.
tradewith60
  • #700
  • Mar 17, 2016 10:19am Mar 17, 2016 10:19am
Quoting 60minuteman
{quote} Hi Oliver, thanks for the good question! Ok so essentially there are 2 things to consider. 1. the logic of how and why a system should work and 2. the rules we use to give us a structure to work within. So first the logic: (this is my opinion and people may or may not agree) Market price just moves up and down. A random distribution of small and large moves in a direction before turning around and moving in the opposite direction. All we really need to do is sell when price is going down and buy when price is going up. The opportunity to...
Darren, thanks for your detailed explanation - I think I see your point !

Oliver
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