4h forex trading system

4h forex trading system

Author: AdultBoy Date of post: 21.06.2017
4h forex trading system

With only an average of 8 or 9 signals a week, there is no point in sitting by the screen! In fact, it is possible to turn MetaTrader off and just do quick check every four hours.

If your MT4 starts 4hr candles at If there is a signal arrow, then we open a trade in the direction of that arrow at the start of the next candle — not before.

So, green arrow, we buy; red arrow we sell. Now, we use our special method of opening two trades with gold, the Dow and oil.

When the first one gets closed assuming it was in profit , move the stop up to break even on the remaining trade.

Financial Trading with Tight, Fixed Spreads | Core Spreads

Talking of pips, we have some complications with Forex and gold. The same applies to gold with the price being shown to one cent when a pip is 10 cents! Again, depending on your broker, oil may have another decimal place. The way to tell is to press F9 and see if the last digit displayed in the prices is a small one — if it is, you need to input stops and take profits with an extra zero on the end!

Below is a summary of trade parameters. Below are the recommended maximum candle sizes above which it is not recommended to trade. Oil - no maximum but use your common sense.

One are that can cause complications is that of financial news releases that effect the USD and hence all the main instruments we trade. As a general rule, the four-hour chart is less troubled by news releases that can cause wild movements on the minute charts.

This means that they can be mostly ignored. The other problem that effects all trading is that of sideways movement — when the price is just drifting up and down within a narrow range usually well under pips and so results in a string of buy and sell signals that go nowhere. I would define sideways movement as being when we have at least six candles that overlap each other.

In our case, this would be at least a whole day with no up or down trend evident. Again, using the four-hour charts, this is less of a problem and, of course, we can never know when it starts or ends.

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For this reason, it is best to take every signal because, even if it is just going sideways, the next opposing arrow will close the trade for a relatively small loss and we always have the chance of a good breakout and some big profits. An opposing signal always closes any trade and opens another in the opposite direct.

4H Trader Trading System - Forex Strategies - Forex Resources - Forex Trading-free forex trading signals and FX Forecast

For this reason, you should try and check you trades regularly in case this happens. Be careful with contract sizes as you need to open two trades whereas before you were only opening one.

This means basically half the normal size. Share your opinion, can help everyone to understand the forex strategy. Mike Tuesday, 21 February It doesn't have arrows.

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