Simple 4 Hour System
Page 1 of 735 123 ... LastLast
Results 1 to 10 of 341

Thread: Simple 4 Hour System

  1. #1
    This is my 1st post here and I thought I will start off by sharing my own system. It's pretty easy in understanding and approach.


    Installation:

    100 Simple Moving Average
    Damiani Volatmeter
    MACD - 15,26,9
    4 hour chart - EURCHF

    The 100 Simple Moving Average serves as a support/resistance lineup as it is known to be employed by major banks and financial institutions, a self-fulfilling prophecy, so to say.

    System Rules

    Long: Take a long trade when price closes over 100 SMA and MACD histogram goes over 0 line.

    Brief: Take a short commerce when price closes below the 100 SMA and MACD goes under 0.

    Re-entry: When the price, after has contributed a long or short sign, retraces back to the 100 SMA, re-enter the direction that you moved the first time. It is recommended to do it the first two times the price hits the 100 SMA and maintain a watch.

    Retrace entry: When a bar is over 100 pips, wait for a retracement to happen towards the 100 SMA lineup and then enter. This will save you from lure down.

    Exit principle

    Scaling: I personally take 3 positions per transaction. I set my TP into 40, 2nd TP into 70 and let the third place run with Stoploss at breakeven.

    For instance, once my commerce hits the initial goal, I transferred the next place to breakeven and depart the third as it is. When the place is struck, I move the 3rd to breakeven, giving the commerce space to breathe. Then I try to find the price to return, if it is open to add to the place. When price comes back into the 100 SMA, I get stopped out giving me 100 pips on two positions.

    This really is a trend following system, also has it's bad days. To avoid getting trapped in a range, I use the Volatmeter indior. It is, so much the indior I have seen that helps detect a ranging a trending market.

    I will try and attach a couple snapshots of past transactions, so the entire idea becomes clear.

    Comments appreciated.

    Good day
    https://www.forexsoutheast.asia/atta...1182439058.mq4

  2. #2
    I am a trader. Nevertheless, I am not mechanical in approach. I believe in discretion. One of these is that the SRs I use.

    Quote Originally Posted by ;
    Marketsniper,do you trade just technicals signals?do you see fundamentals in the market or just listen to technicals investigations?

    And belive that eurchf will go down!!!!!

  3. #3
    Hi marketsnipers

    Thank you for sharing with your system it is look great.

    I would like to know how do you think about the weekly pivot line is it such as s/r lineup or are you discount it?

    Regards,

    Simon

  4. #4
    Marketsniper is currently utilizing 100 MA as an axis of support/resistance on the 4h and pivots; TLs are not a part of the egy if you mix whatever.

  5. #5
    This is a system and that's how it should remain. It makes pips, that's all that matters. BTW I'm now short eur/chf, entered on the retrace.

  6. #6
    The compliion is what I dread.

    Quote Originally Posted by ;
    Marketsniper is using 100 MA within an axis of support/resistance on the 4h and weekly ; TLs aren't a part of his egy, it does not mean that he does not understand about them, if you combine whatever you'll receive conflicting signals.

  7. #7
    You got a very good price, no matter the market goes right ot wrong.

    Quote Originally Posted by ;
    This is a simple system and that's how it should remain. It creates pips, that's all that matters. BTW I'm now short eur/chf, entered on the retrace.

  8. #8
    Quote Originally Posted by ;
    The compliion is exactly what I dread.
    Complex fashion lines, you're right let's keep this simple.

  9. #9
    Marketsniper,do you trade only you see fundamentals in the market or pay attention in technicals analyses?

    And I belive that eurchf will go down!!!!!

  10. #10
    I respect your use of trendlines. I did not mean that they are complied, but when you have many indiors what I meant is it becomes intolerable to trade.

    Hope that helps.

    Quote Originally Posted by ;
    Complex fashion lines, you're right let's keep this simple.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.