This thread that I am starting is not my own trading system because I adopted these from 3 SUCCESSFUL systems that were posted here in FF.
SO, TAKE NOTE THAT I AM NOT HERE TO PROVE ANYTHING TO YOU GUYS...
BUT I AM JUST TAKING THE TIME, EFFORT AND ENERGY TO SHARE WHAT WORKS FOR ME SO I CAN GIVE BACK AS WELL..
BECAUSE I ALSO HAVE SOME GOOD FRIENDS ONLINE WHO HELP ME TO SUCCEED...
I AM JUST RETURNING THE GOOD KARMA I RECEIVED & HOPEFULLY SOMEONE WILL BENEFIT FROM THIS THREAD...
Reason I am starting this thread because I cannot fully post my trades on each threads because of the fact that it does not fully fit on the thread starter's rules because I removed some rules/approach then I added some rules from other systems AND also added my own that fit my personality and risk tolerance...
Without further ado, I would like to give the credits to these traders that contributed on this system that I modified to fit my trading system:
Davit - Pivot Trading
Hzs10 - Simple H4 Mobile Trading System
Andrei - There is no Magic Moving Average - You need only one
Rules I selected to adopt because it successfully worked for me:
1. Pivot Trading
- Price action is key.
- 61,78 and 100 Pivot zones are usually where we expect a counter trend trade but we don't place a trade blindly and expect price to turn. Hence, needs more factors to get confirmation
- If we are looking at a trend continuation trade, we can expect a price to travel from Weekly Pivot to 38 or even all the way to 61 zones but not enter a trade blindly as well.
- Follow the news every week to know which pairs will have more liquidity and know when to trade.
2. Simple H4 Mobile Trading System
- Use 4H engulfing/outside bar as our first criteria of a possible trade.
- Use fibonacci tool for our possible SL and TP levels.
3. There is no Magic Moving Average - You need only one
- Use 30 SMA
- Analyze a trade once price pierced the MA, retraced back to MA and turned on the new direction where it pierced the 30SMA.
- Use the 4H chart as well.
MY OWN RULES THAT I ADDED:
> We can also switch on Daily Timeframe and look for engulfing/outside bar.
> TMS anglegator should only display both positive numbers if we are planning to buy and both negative numbers if we are selling.
IF mixed numbers, we wait... (Note that this is just for 4H charts TF)
> We only trade the 4H chart during London and/or NY session.
> Once Fibo tool has been plotted, we can move the SL & TP closer to the next pivot zones.
> We determine the SL first then use position size calculator to determine our lot size (suggest to use 1% risk only) before we enter a trade.
P.S. Please do make sure to check out and read how the main 3 systems work in order for you to get a grasp on how this Hybrid combo system works and have a good foundation as well.. Coz I won't take time on explaining the very basics.. If you want to succeed on this trading journey, you have to do your due diligence and nothing beats hard work and perseverance.
Who knows you might be able to give a better idea on this thread as well.
If you have telegram. You can join this room created by one of our fellow traders here as well where they send notifications every time there's an engulfing candle forming so you can be aware right away of a possible trade setup...
Credits to: BeaterTrader for his efforts...
**Added on Feb 8, 2019 - Pivot indicator for you to perform back test if interested** (Pivot_Voty)
For those people who downloaded the Voty Pivot to see the previous weeks pivots, there's also an alternative provided by Nostromo on Davit's thread..
This is the same with Voty but without the swirly lines making your chart cleaner...
Feel free to check it too...
I am closing down this thread for now...
I changed my system and improved it a little bit more...
If you're still interested, you may go to the new and better system that I am working on now...
Consistent Profitable Trading using 4H Outside Bar w/ Pivots
Good luck and Stay Profitable!!!