bhushansky
Well-Known Member
CHART TIME:
This system is to be traded on the 4h chart only. I switch between daily and 4h chart to see what the market is doing. Daily you will see the overall trend. 4h is where you will place the trade. Sometime you can go to 1h and see if the signal matches the 4h, if it doesnt, wait for the trade set up on 1h so you get a better entry.
TRADING TIMES:
I place all my trades at 1am est. Thats when i get a new candle and market tends to move a little. I really dont like staying up late so I will place trade at 1am and stay up another 15 minutes to make sure everything is looking good. I like to keep the trade open untill 11am. It seems like the market picks up more juice around 9:30am. You should only exit position if its going against you.
EXITS & TAKE PROFIT
Since we are trading 4h timeframe the stop loss has to be pretty big. If you get in around 1am then the market shouldnt go against you more than 40 pips if your trading high volatile pairs. Anyway, stop loss should be 70 pips. If it seems to wide then dont trade as much money. Get the feel for it. Theres nothing like the market going 50 pips against you and your $800 in the hole only to turn around and then go your way. I have been in some trades for 2 days because it was ranging between -40 - -60 pips. I usually take profits at pivots, emas, lows and highs. Its up to you how safe or risky you want to be.
TRADING:
Its pretty simple when to buy or sell. All indicators must match.
4h TDI
DAILY TDI
DASHBOARD
BOTH MACD
MACD CANDLES
PROBABILITY METER
FX REACTOR
RSI FILTER
If you follow the rules you should make some good money. Remember dont be greedy and trade at the right time. Dont trade too much money or some trades will get stopped out. If you lose a trade pretty badly get out of market and dont trade again for about 10 hours. Cool off and learn from your mistake. Study the charts and realize why you lost. Did you take a signal to early. Was the daily going in that direction. Did one hour chart confirm. NOTE: I dont look at one hour too much. Only during the morning not at night. you can check it at night for entry only.
This system is to be traded on the 4h chart only. I switch between daily and 4h chart to see what the market is doing. Daily you will see the overall trend. 4h is where you will place the trade. Sometime you can go to 1h and see if the signal matches the 4h, if it doesnt, wait for the trade set up on 1h so you get a better entry.
TRADING TIMES:
I place all my trades at 1am est. Thats when i get a new candle and market tends to move a little. I really dont like staying up late so I will place trade at 1am and stay up another 15 minutes to make sure everything is looking good. I like to keep the trade open untill 11am. It seems like the market picks up more juice around 9:30am. You should only exit position if its going against you.
EXITS & TAKE PROFIT
Since we are trading 4h timeframe the stop loss has to be pretty big. If you get in around 1am then the market shouldnt go against you more than 40 pips if your trading high volatile pairs. Anyway, stop loss should be 70 pips. If it seems to wide then dont trade as much money. Get the feel for it. Theres nothing like the market going 50 pips against you and your $800 in the hole only to turn around and then go your way. I have been in some trades for 2 days because it was ranging between -40 - -60 pips. I usually take profits at pivots, emas, lows and highs. Its up to you how safe or risky you want to be.
TRADING:
Its pretty simple when to buy or sell. All indicators must match.
4h TDI
DAILY TDI
DASHBOARD
BOTH MACD
MACD CANDLES
PROBABILITY METER
FX REACTOR
RSI FILTER
If you follow the rules you should make some good money. Remember dont be greedy and trade at the right time. Dont trade too much money or some trades will get stopped out. If you lose a trade pretty badly get out of market and dont trade again for about 10 hours. Cool off and learn from your mistake. Study the charts and realize why you lost. Did you take a signal to early. Was the daily going in that direction. Did one hour chart confirm. NOTE: I dont look at one hour too much. Only during the morning not at night. you can check it at night for entry only.
