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  • #74,541
  • Jan 7, 2017 1:12pm Jan 7, 2017 1:12pm
Quoting emmanuel7788
GBPUSD H1 trade Jan 5: A Bearish Engulfing Bar BEEB setup Frankfurt Open candle with Divergence. Risk : UK PMI in about 2 hours, counter trend to yesterdays bullish close. SL 50pips TP 50pips {image}
Hello,
Happy new year!, thanks for the great posts!
Could you share the daily ( higher time) indicator that you are using to get the daily HA candle within the lower time chart.
Thanks a lot and best regards
  • #74,542
  • Jan 7, 2017 1:18pm Jan 7, 2017 1:18pm
Quoting Sanbernardin
{quote}{quote} I live in Italy and I have the same problem (working and trading). 10 pm here is 1 pm Pacific Time. I wonder if anyone has any advise regarding opening 4h trades at this time.
As I am living near Brussels (Belgium) I am in the CET Zone. You can find a time table HERE
I trade on the 4H Candle. So how does my day look like? (Time given in CET)

There are actualy three Markets involved (the most forgotten one is the Frankfurt Market which starts at 8:00 AM CET, London opens at 9:00 AM CET)

As I have a regular fulltime job I arrive at the office at 7:00 AM. At this time I open my charts to look at the current situation by then. I must add to this that on the previous evening I tent to look at daily charts to know where we are heading. So back to the start of my day.

I look at the pairs which I found interesting the previous night at NY close.
Most of the time I will not jump in right away but see what is happening between Frankfurt Open (8:00 AM) and London Open (9:00 AM). So, somewhere between 8:00 AM and 9:00 AM I may place my first position(s).
From there I leave my trades alone.

Somewhere around 11:00 AM I will do a checkup at my trades because I noticed that between 11 AM and 2 PM (NY Open) markets tend to reverse a bit.

Often my positions are already closed by then since I go for a modest amounts of pips. If this is the case then I will leave it as is and return around NY open which is 2 PM. If another opportunity is there I will repeat the same procedure for the NY session.
If there are still trades open from the London Session, I will keep monitoring those but also in the same way as I would do in the morning.

So, when am I at my charts?

 

  1. 7:00 AM quick look
  2. 8:30 - 9:00 AM London Open first trades placed if opportunities are there
  3. 11:00 - 11:10 AM Monitoring trades
  4. 2:00 PM NY open repeating procedure.
  5. 5:00 PM Monitoring
  6. 11:00 PM Daily analyses for next day.


Now this is my schedule but sometimes I have to be a bit more flexible of course.
However, it gives you a clue how you could approach trading while having a job.

In my case I am lucky to have a job where I am on a computer all the time.

Hope this helps.

Jan

First comes knowledge about yourself, then comes a system...
  • #74,543
  • Jan 7, 2017 1:25pm Jan 7, 2017 1:25pm
Quoting blueman
{quote} Hello, Happy new year!, thanks for the great posts! Could you share the daily ( higher time) indicator that you are using to get the daily HA candle within the lower time chart. Thanks a lot and best regards
I believe this is the indicator you want:

D1 Candle

Jan
First comes knowledge about yourself, then comes a system...
  • #74,544
  • Jan 7, 2017 1:32pm Jan 7, 2017 1:32pm
Many thanks happy new year
  • #74,545
  • Jan 7, 2017 2:02pm Jan 7, 2017 2:02pm
http://www.screencast.com/t/KLdC9ELUl


What I am doing wrong in the setting that I am not getting the full daily HA candle?

Thanks
  • #74,546
  • Jan 7, 2017 2:08pm Jan 7, 2017 2:08pm
Quoting blueman
http://www.screencast.com/t/KLdC9ELUl What I am doing wrong in the setting that I am not getting the full daily HA candle? Thanks
Hmmm... not sure I'm afraid. Personaly I did not use this indicator till now. Since you asked for it I tested it, just dragged it on my chart without even looking at settings and the daily was there....
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 82 KB


And there is not much to be set anyway:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 20 KB


Anyone could have a clue for Blueman?
First comes knowledge about yourself, then comes a system...
  • #74,547
  • Jan 7, 2017 2:12pm Jan 7, 2017 2:12pm
Yeah, yours is working well thanks for helping

I will wait if someone know how to make it working
  • #74,548
  • Jan 7, 2017 2:20pm Jan 7, 2017 2:20pm
http://www.screencast.com/t/i0W0EcMXu

my setting is the same as yours and I still don't get it....I put it on other MT4 its the same. strange
  • #74,549
  • Jan 7, 2017 2:22pm Jan 7, 2017 2:22pm
Quoting blueman
http://www.screencast.com/t/i0W0EcMXu my setting is the same as yours and I still don't get it....I put it on other MT4 its the same. strange
Can you test it by opening a new chart without any indicator, standard color scheme (green black) and then add this indicator to it?
If that works there maybe another indicator you use which causes this conflict:
First comes knowledge about yourself, then comes a system...
  • #74,550
  • Jan 7, 2017 2:32pm Jan 7, 2017 2:32pm
You got it! thanks, Its working on a clean chart. so now I need to find the indicator the in conflict with it .
  • #74,551
  • Jan 7, 2017 3:24pm Jan 7, 2017 3:24pm
Quoting JanCeulemans
{quote} As I am living near Brussels (Belgium) I am in the CET Zone. You can find a time table HERE I trade on the 4H Candle. So how does my day look like? (Time given in CET) There are actualy three Markets involved (the most forgotten one is the Frankfurt Market which starts at 8:00 AM CET, London opens at 9:00 AM CET) As I have a regular fulltime job I arrie at the office at 7:00 AM. At this time I open my charts to look at the current situation by then. I must add to this that...
Thanks a lot, very helpful. I think it is important to have a kind of routine. I am still in the process of getting one. As you live in Belgium we have the same time. I understand that BigE suggested to trade London session with 1h tf but, because he was in another time zone, he couldn't do it. I think that the best time to trade London session is at 9.00 am and above all at 11.00 am, when the trend is normally getting stronger. At the moment I am trading on 4h chart at 7.00, 11.00, 15.00, 19.00 and on 1h chart at 9.00, 11.00 and 15.00. I am also checking daily trading at 11.00 pm.
I understand that BigE tried also weekly trades.
For me it is still early times and I have to acquire a lot of experience with this strategy, which sounds anyway very consistent and promising.
It is therefore very constructive to share experiences on this thread.
  • #74,552
  • Jan 7, 2017 4:57pm Jan 7, 2017 4:57pm
Does this work on the Indices and could the the correction to the stock market be about to happen...on Monday coming ?
Attached Image (click to enlarge)
Click to Enlarge Name: FTSE100H4.png Size: 32 KB
  • #74,553
  • Jan 7, 2017 9:03pm Jan 7, 2017 9:03pm
Quoting Emerald2112
Does this work on the Indices and could the the correction to the stock market be about to happen...on Monday coming ? {image}
if you are seeing H4 divergence on your chart, there is none happening yet. there is no swing high on your H4 chart.

the Day chart will show when there is correction to the recent 'mini-bull run'.... look at the blue chips stocks
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,554
  • Jan 7, 2017 9:16pm Jan 7, 2017 9:16pm
Quoting eelfranz
Hey Gang, You know I prefer to trade the the 1 & 4hr timeframes.... Don't be afraid to trade the Dailies for you working guys and gals. They generally have nice runs per reversal.... give it a try....
For many TMS traders who have day jobs and do not have regular hours where you can log into your trading platform to trade, you should learn EOD trading. You chances to beceom profitable is far better than if you trade intraday and any of the lower timeframes like H1, M30, M15 and M5.

You only need to log in at minimum once per day to place your trade if you had done your top down analysis and know when there is trade opportunity for you to open a new trade entry.

Trading is about entries and exits. Knowing your Risk and Position Sizing.

It is weekend now, so do you top down analysis (your Big Picture Plan) and have a trade plan ready for next week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,555
  • Jan 7, 2017 9:19pm Jan 7, 2017 9:19pm
Quoting blueman
You got it! thanks, Its working on a clean chart. so now I need to find the indicator the in conflict with it .

Look in your chart "Object List" (use CTRL+B)
See if there are on chart objects using the same prefix name. This will be the most likely conflict.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,556
  • Jan 7, 2017 11:37pm Jan 7, 2017 11:37pm
Quoting emmanuel7788
{quote} For many TMS traders who have day jobs and do not have regular hours where you can log into your trading platform to trade, you should learn EOD trading. You chances to beceom profitable is far better than if you trade intraday and any of the lower timeframes like H1, M30, M15 and M5. You only need to log in at minimum once per day to place your trade if you had done your top down analysis and know when there is trade opportunity for you to open a new trade entry. Trading is about entries and exits. Knowing your Risk and Position Sizing....
Do EOD mean end of day?

For day trade, it is fine to enter the trade even it is not at the open of the new candle?

Thanks
  • #74,557
  • Jan 8, 2017 2:29am Jan 8, 2017 2:29am
Quoting brian661
{quote} Do EOD mean end of day? For day trade, it is fine to enter the trade even it is not at the open of the new candle? Thanks

EOD means End Of Day.
This is how I have been trading the stock market using EOD trading strategy since 1980s.
It work the same for spot forex when I trade D1 chart.

Big E recommended that for those with day jobs not to be afraid to trade Daily chart. But he did not trade Daily chart, what are his reasons?

When I trade the Daily chart, the rules for TDI entry and exit do not apply. I hope by now the experienced TMs traders will share with you why some of Big E' rules no longer apply when we trade in current market conditions.

One of the problem I read in this thread is that traders try to trade like Big E but do not know the man and do not understand why he traded the way he did. Reading the pdf compilation is not helping either. You must read his actual posts and know what he meant when he replied to members questions and the market situation back then when those questions were asked. You need to know the man whom we called Big E - his temperament, his lifestyle, his money management when trading, his risk profile and why he would risk 15% to 30% of his $10,000 trade account. You don't have to trade like him - his aggressive entry style with APB#1 and APB#2. There is nothing wrong to enter on APB#3, APB#4, after the reversal is confirmed and we can trade the continuation using price action.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,558
  • Jan 8, 2017 2:39am Jan 8, 2017 2:39am
Quoting brian661
{quote} Do EOD mean end of day? For day trade, it is fine to enter the trade even it is not at the open of the new candle? Thanks

AUDUSD D1 chart

Look at the AU chart below.
Last Friday's NFP caused a bearish day but the APB remains blue. Do you want to buy when Sydney market open?

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD D1 Week 02.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,559
  • Jan 8, 2017 3:17am Jan 8, 2017 3:17am
Quoting emmanuel7788
{quote} Look in your chart "Object List" (use CTRL+B) See if there are on chart objects using the same prefix name. This will be the most likely conflict.

Thanks

I have hard time to find the conflict, do you mind sending me your template?

Many thanks and have a happy trading week
  • #74,560
  • Jan 8, 2017 4:22am Jan 8, 2017 4:22am
Quoting blueman
{quote} Thanks I have hard time to find the conflict, do you mind sending me your template? Many thanks and have a happy trading week
First, try and delete those indicators you have on your template...

Attached Image (click to enlarge)
Click to Enlarge Name: blueman D1 candle.png Size: 148 KB


if this does not solve the conflict, then it is best time to create a new template and arrange your indicators in a proper order of layering on your chart as they appear.
The D1 candle preferably be best at the bottom layer and the APB on the layer above it. This give a better visual.All other indicators should look better above the APb layer.
Doing this will give you a new chart template. Save that new template.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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