4h trading forex system

You might not know this but, trading daily timeframe offers many benefits not found on the lower timeframe. This means you have less time to think which cause you to make wrong trading decisions like chasing the markets. This means you can focus on learning how to trade and not worry about whether you can pay the bills.

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The goal of a proprietary trader is to generate a consistent income from trading by trading frequently. Swing trading strategies that work. If you ask me, this is the secret between winning and losing traders. Next, scan through your watch list and identify the markets which offer a potential trading setup this should be according to your trading strategy. This could be morning, afternoon, or night depending on where you are — so create a schedule where you can commit to it no matter what. If you made two times your risk, you made 2R. How to be a consistently profitable trader within the next days.

This was very insightful and truly appreciate your efforts in educating retail traders. Would be grateful if you could help me in fixing this issue at least to some extent if not fully. You can avoid trading during earnings news release or have wider stops to take into consideration of gaps against you. Very good article. If you wanted your trades to last wks what time frames would you trade off? Trade Journal:- last 2 months I have been religiously maintaining journal to analyze performance.

I realized that my hit ratio as well as performance is way better on Daily over intraday or small timeframes. Usually i try to book out at I mostly trade Indian market. Really appreciate your effort, Rayner. This article speaks to me directly … I will put every thing to practice. Rayner- very good article. I just received your book too!! Super excited. What time frame would be best. Hour or day still? I fine it works best for me.

I just decide to go with a higher time frame and have the peace of mind. Fewer trades, but I feel more in control so far the results are better Thank You. Swing trader with some position trades — allow a swing trade to run… but I trade agrressively… Only take a trade that looks high probability and take a very large position. If trade does not go in my favour within an hour or so after entry I exit trade do not wait for stop loss. As a not the greatest thing that helped me was reviewing my trades..

I followed all the other rules but did not really review. The first detailed review I ever did was after a 5 month period of trading and it was an eye-opener. Thanks Rayner for sharing this useful article, God bless you and give you much years to live and give you more power to produce more helpful articles.

Hy Rayner, am just new in trading. I trade the daily charts for two years now and I can say it helps me a lot.

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I have noticed that my stops are usually over pips on most markets but I can accommodate that with good risk management. Thank you very much for your ever insightful guides. What is Trade View? Is it a special software and if so, how do i access it? Thank you very much Rayner.

This information was very usefull for me. Could you share some tips, how to create and update watch list of stocks or markets? I am the follower of your you tube channel and now reading the articles in your website to improve my Forex trading knowledge. So If I want to open and close the position in a day, what is the time frame is best suited for me. Which Time frame I need to use for analysis and trade.

Because I try to use the MA as you suggested, but when the Time frame is changed the results are confusing. So please need your advice. Actually I was doing trading in my live account and lost the money, so now spending my time to understand my mistakes. Till that time I am planning to invest the money for Copy trading so that I can earn decent margins, Is there any possibility please advice.

Hi Raynor- Great stuff like usual! I watch all of your youtube videos… so I feel like you are one of my best friends. I use a hybrid strategy- trend follower leaning a little toward swing trading. Two words… Heiken Ashi!!! Below you see a chart the way many traders will follow it. It looks like the price is at the lower area of the screen and right at a support level, ready to bounce higher…. But when we zoom out on the same timeframe, it looks like the price has been in a strong uptrend for a long time and it has just started to shift with a lower high and increased selling.

There is actually a lot of room to the downside and the range we saw on the screenshot above is the top when we zoom out. My tip is: zoom out, scale charts differently, try different zoom levels and you will understand your charts in a much different way. It is vital as a trader that you know 1 under which market conditions your trading method performs best and then 2 pick the markets that are in such a phase. Trend traders often get caught up in range-bound or low momentum markets.

Reversal traders get burned in strongly trending phases. And range traders run into problems trading breakouts. Market selection and knowing which market conditions your method performs best in is a completely overlooked field in retail trading. Right now, you should grab screenshots of your 10 best trades, find the similarities and write down the market conditions the trades took place in and then improve your market selecion process.

Long-term chart patterns which consist of multiple candles usually have a much higher predictive value than single candlestick signals. In my own trading, I look for long-term patterns which can easily include candlesticks at a time, just like in the Head and Shoulders example below. Those longer term patterns provide much better context and they can tell you a whole story about what is happening between buyers and sellers and how powers are shifting between the two parties.

I take it even one step further and I do not only look at the pattern itself but also at what has happened before the pattern was formes. How did the trend look like leading into the pattern?

Forex 4h trading system

How did the candles behave and what is the general momentum and volatility level. This point is a continuation of the previous one. Just like making trading decisions based on more candles is usually more effective, trading with more confluence factors can also improve the quality of your trades. Always let the charts tell you a story and listen carefully.

The more confluence factors you have that support your trade idea, the better usually the signal. If you have a trading journal — and no trader should trade without a good journal — you can track how the amount of confluence factors impacts the accuracy of your signals and your overall winrate.

Of course, the type of confluence factors can vary with your trading method, but the underlying idea works for all types of traders. Before I enter a trade, I ask myself: do I love this trade? I sit back, pause for a few seconds and then make a decision. I have been trading for over 12 years and I have taken thousands of trades. If there is one thing that I have learned is that it hurts much more to lose money by taking a bad trade you know you should not be in, than it hurts when you miss a trade that you were not sure about to begin with.

A question though, where would you place the trade in the above screen shot with the head an shoulders after the sharp break of the neckline,,,an where would you place your stop? I used to trade stocks in UAE since I was very successful, but that market is not very volatile anymore. Thanks for writing such an interesting article, Rolf. It makes me see a better perspective for trading. Trouble with Point 3, market Condition, is that in real time a ranging or trending market condition is not revealed for quite a while and so the choice of which strategy to trade becomes problematical.

So much easier in hindsight! Perhaps ADX can help. Save my name, email, and website in this browser for the next time I comment. This content is blocked. Accept cookies to view the content. This website uses cookies to give you the best experience.

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