Hi Reputake, first welcome, glad you like the ideas... yes if you stick to the rules that is the entry, i think the long tail candle a bit further on also is valid... a really good trader once said to me, if no opportunity exists, sit on your hands ...

Buy sell line trading

remove emotion by keeping your position small, a win should not be too exciting and a loss not to devastating... solves fear and greed in one step..

One thing you would pass on

what I will add too, is that I think my risk is too high, done alot of research and I think the smart way to go is 1% per trade... ....trading at 2 or 3% is too much....imho

Buy sell line trading

Hi lazypawn, yeah this is the approach I use, which makes sense anyway because you will have to round up or down if you calculate risk on your balance every trade... So I use the same amount for every trade until the next threshold is achieved.

Buy sell line trading

yeah fibs can be good targets, i traded them solidly for a year, theres a great bunch of skilled fib traders over on skunny's indicator free trading thread...

Buy sell line trading

Hi Hutrader, yeah using fibs and entering on a retrace will work too, in fact all of the basic technical ideas will work, but you have to have a plan and stick to it... thats why most traders fail. with regards UJ... its going to be a while before I ...

Buy sell line trading

yeah I agree, right now I wouldn't touch ECHF, but many do like it, so i thought i would include it.. I was just trying to show how you could of stuck rigidly to the rules this week and the strategy would of given you a healthy return. I certainly ...

Buy sell line trading

Hi Rob, you don't need to wait for a close, as soon as you trade 1 pip below the low or high of the signal candle you enter... either manually or with a pending order.

Buy sell line trading

cool, will be good to get the data... be nice if you mixed the crosses though... eu gj, or gu ej... December until now has been great for me trading on the H4. (although EU has sucked big time)

Buy sell line trading

you have to have a plan, it has to be written down, it has to include rules for each element of the trade, and you must stick to it without question. then you can trade, if you get to a minimum of 100 trades and youre negative, look to make changes. ...

One thing you would pass on

It varies, I have a scan at the start of the week and pick the best trending pairs... results were GU EU AU NU ECAD EG EJ GJ UJ ECHF GCHF UCHF

Buy sell line trading

*rest of the weeks charts

Buy sell line trading

weekly results Here are the results with charts for the week if you stuck strictly to the rules on page 1.. H4 TIMEFRAME 12 PAIRS 22 WINS 5 LOSSES 2 BREAKEVEN So taking profit at 1/1 and not pushing for more would of resulted in +34% (based on 2% ...

Buy sell line trading

Hi SteMag, I just think you needed to do more pairs over a longer period, both the crosses you looked at were dollar crosses and not the best trending pairs right now. Try running the same period on GJ and EJ for example, you will see what I mean... ...

Buy sell line trading

Ok, I see your point, I guess it depends in what order your wins and losses come in... im not great with figures though. What im trying to get across though is the importance of not taking trades where your risk increases massively because of the ...

Buy sell line trading

Just want to share something that's really made a difference to my trading, especially with this strategy, and that is position sizing, It's really important that all your trades are risking the same %age of your account, so regardless wether the ...

Buy sell line trading

you're going well mate, I had wins on GJ EJ and GU and a loss on UCHF..

Buy sell line trading

GU H4 closed half and moving stops up now...

Buy sell line trading

ok, cool... agree with you on everything there.

Buy sell line trading

also, you have to note the R/R, with correct position sizing and 1/1 R/R those ma50 results should of been +3% (based on risking 1% per trade and closing at 1/1 R/R) even though they're negative pips...

Buy sell line trading