4candle strategy - gbpjpy
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Thread: 4candle strategy - gbpjpy

  1. #1
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    4candle strategy - gbpjpy

    Pair : gbpjpy
    time frame to trade: 1-HOUR

    Rules :
    open the 1- hour chart.

    from the 6th hourly candle from the start of the day, till the 9th candle , mark out the high and the low .

    pending order buy should be +1 pips above the high
    pending order sell should be -1 pips below the low.

    stop loss will be :
    1) if buy order triggers then the stop loss will be the low -5 pips.
    2) if sell order triggers then the stop loss will be the high +5pips.

    take profits will be of 1:1 risk reward. for e.g. if the stop loss is 20 pips then take profit will also be 20 pips.

    remember to add spreads in your buy sell pending orders and in your take profits and stop loss.

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    Last edited by pak forex; 12-06-2013 at 09:56 AM. Reason: MAKING THE STRATEGY MORE EFFECTIVE

  2. #2
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    This strategy is useful when there is trend and specially when you have opening reversal

    By opening reversal i mean reversal in first hour in 15m chart e.g when we have trend which is up and in between we had a choppy day or day with accumulation where supply is absorbed and at the final hour we had a downtrendline break and in first hour of opening we had a break above lower high and then yesterday's close is tested and then we get final bullish bar confirmation is known as opening reversal and most of the day price will make high

    so low risk reward opportunity with stop below the signal candle

    regards

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  3. #3
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    the risk played in this strategy is very high,we can not open deal with ratio of stop loe and take profit is 1;1 and waiting the price to rich the high is not always the solution to make pips,because we must check howis the market is going to the high or low,if it is going with force then you can enter the market direction even before the top or botoom is reached,if the market i mouving the mooth then there are risk to enter the trade

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  4. #4
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    This is just like the other ways that i have seen traders using a breakout gambling strategy on the cross pairs that are very volatile, this will not work. I have done it many times, but it will only kick the stop loss and will continue to work back in the line of choosing, but it will be too late by then, just try to find a sustainable system for working in forex.

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    this strategy is fine & one of the useful method in the strategy but when we have trend which is up and in between we had a choppy day or day with accumulation where supply is absorbed and at the final hour we had a downtrendline break

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  6. #6
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    This is just like the other methods that i have seen investors using a large betting technique on the combination sets that are very unpredictable, this will not perform. I have done it many periods, but it will only punch the stop-loss and will keep perform back in the range of selecting, but it will be too delayed by then, just try to discover a maintainable program for operating in currency trading.

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  7. #7
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    sir as there are a lot of strategy available on internet I think this strategy is much risky at the same time it is very complicated as a lot of calculations are involved and not directly based on indicators more over to place an order we need to wait for six hours minimum for the formation of sixth candle which is again not a feasible strategy for some parts of the world.

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  8. #8
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    yes this is still high risk because we see the risk reward is 1:1 since this trade is about probability with simulating 2 orders win and 2 orders loss we cannot make some profit but it is just wasting time, but if the risk reward ratio 3:2 or 1:2 we still can make some profit. I think we should have good risk reward first.

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  9. #9
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    Quote Originally Posted by nidhi View Post
    sir as there are a lot of strategy available on internet I think this strategy is much risky at the same time it is very complicated as a lot of calculations are involved and not directly based on indicators more over to place an order we need to wait for six hours minimum for the formation of sixth candle which is again not a feasible strategy for some parts of the world.
    you have certainly made a very good observation and i also do not think traders should try to make use of all strategies they come across. Traders are to focus on their own trading strategy which they can easily undertand and implement in their trading.

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  10. #10
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    Well I am not understanding you I think you should share some charts and diagrams regarding that strategy otherwise for a new trader it will be very hard to learn this strategy screenshots are very easy to understand so please if you will post next time any thread with a strategy then please share some charts also.

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