Never Lose Again!! TheRumpledOne

[Never Lose Again!! TheRumpledOne]

In response to post # 101

 

Yes, I am thinking along HLM's lines. The question arose because I am not a full time trader and don't have time to keep monitoring the chart, so was wondering if I could move to a higher time frame and look for a slightly larger profit target, say 20 pips. I guess my question is what is the rationale behind your strategy of going long when a green candle crosses a 00, 25, 50, 75 line. If it is that it is a psychological # and there is a heavy concentration of trades placed on either side of these numbers and the color of the candle indicates the current trend then I guess higher time frames should behave in the same way as lower time frames. Also they would not be in conflict i.e. red 4 hr candle and green 1 hr candle because you trade only when the direction of the price and the candle color are same.

 

I hope I am being clear enough. Again to summarize the question is what is the logic behind this method, so that we could understand it the better and adapt it to situation better.

 

Thanks

[Never Lose Again!! TheRumpledOne]

Hi TRO,

Thanks for this simple and effective method. Does this method work on higher time frames like 4hr, daily etc.

 

Thanks