Yes, but I think you are best sticking to the 5min because the system is trading micro trends which are not dependent on 1hr trends. Some would say use the 200MA for main trend guidance but you miss so many little counter micro trends.
If I ever look at 2 charts it’s the 5mins and 1min. Al Brooks always says to concentrate on one chart though.
Oh I agree that trades will be placed on 5M chart. The 1H is to gather more trend overview. My goal is to enter higher lot size on trades that go in direction of overall trend. Today was all Buy entries with 1 sad Sell entry.
Brooks was one of the earlier speakers I watched online a couple of years ago. I’ve forgotten it all but I remember he had stat on what generally happens after first candle of the day and probabilities regarding trends and returning to that first candle price.
Yes Al Brooks is a main man. I’m very into Tom Hougaard.
If 90% of traders lose and yet they know all the technical stuff, it’s 90% in the mind. The fear of losing profit and taking winning trades off too soon and the hope that the pain will stop when losing trades, hopefully, turn around.
So so true. And think about it. 10% of traders are successful and a few percent of those are the highly successful. And when they tell you what they do it’s rarely ever very complicated. The psychology is everything.
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Sure is 
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is there an mt4 template that could be shared, thanks in advance
Hi AT,
Suggestion; initial stop loss - last resistance or above 32EMA HIGH (tight SL) when opening SELL per your strategy.
LONGER TRADE: Moving your SL to each support turning into resistance and so on.
SHORTER TRADE: EXIT when price comes to next support.
For BUY do opposite…
50 EMA should give you clear indication in which direction you shoud trade.
No. But all the indicators are available on MT4. I use Level 2 Trading, Moving averages, PSAR, and Investment Castle Trend Lines.
I did enter a small trade on this current buy signal. Up 5 pips so far. If I get 10 pips, great If not, already moved SL to break Even
Not bad. It brings the trades down to personal preference. When scalping, I’m going to choose the tighter sl. But I DO move it when I think it needs more breathing room as the trade plays out. But R &S zones play heavily in my exits. Today’s exits were near perfection other then when I closed early while I had to step out. In the future, I will be using longer time-frames and converting from scalping to day trading or swing. Then I will be moving toward your suggestions.
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My preference is H4, gives me freedom of doing other things and engagement is only 3 times a day, 5-10 minutes… Wish you all the best in NY2023!
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Thank you. I’m in the phase where I want to build the account balance with minimal loses and quick profits. But I am not as tied to the screen as you may assume. I have the PSAR set to send me push notifications. When I get one, I check the chart to see if it looks like a good signal worth taking.
It works on 4H very well too. I check the chart’s for the whole day every day, and every day there is a trend on 4H that the PSAR signal would work for 20 - 60 pips
On 5M chart, if you did nothing but enter 1 trade using the PSAR settings you made 32 pips.
Correction: That doesn’t count the downtrend at the end for another 8 pips.
You made 40 pips.
If you used Daily chart and kept trade open for 40 days, you made 700 pips. Cut it to a month and you made 600 pips.
Look at the previous month, same or better.
For people who use 1 lot trades, that’s $6,000 in November and $6,000 in December.
Another 10 pips added to daily. 71 total.
Hopefully, by mid 2023 that will mean $710 profit for me.
Congrats to all! Found this thread 2 days ago and I really like the “mood” of the group. I’ll start doing some tests and let you know what I get…
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Welcome aalcaraz.
Glad you are here.
@AmericanTrader Thank you for posting a successful strategy. Would you please summarize the latest settings and restate the strategy?
For PSAR on MT5, it says 1/2 Step and 1/2 Maximum (rather than Step/Maximum). Are they the same as what you state (1st post example: 0.06 / 0.07) or should that be adjusted in this case to (0.03 / 0.035)?
What do you mean blue/yellow (it changes colors? Setup seems to require picking 1 color).
Sorry for the noob questions.
“When white crosses both greens” it does not matter in which direction it crossed (from low going up higher; or from high going down lower → that is an ENTRY trade? Please clarify)
Ahh I see post 17 yellow/blue changed colors, but how did you set that for trend? (I thought you said you are not programming it)
How are PSAR settings related to trade duration? post 18
Again, Sorry for the noob questions.
Merry Christmas / Happy New Year / And thanks again
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VGS
The base strategy is to be simple on purpose. Buy signal when 14 ema comes up from below lower green and crosses above it. Alternative buy signal when 6 ema comes up from below and crosses over both greens.
Sell signal is just the opposite.
I got 22 wins and 2 losses using this strategy this week.
PSAR is a different strategy, but I am trying to introduce it to the group for feedback because it looks as promising as the ema crossover. I am using the free indicator “PSAR with Trends and Alerts” which provides the PSAR and the direction arrows, and can send push notifications to my phone. With these settings, I think I can simply take a quick peek at the chart after I get an alert. If the alert is just the result of a normal candle (not a giant rogue candle), I can enter a trade position. Close on the next alert. Rinse and repeat.
The tight PSAR settings are to mimic a tight SL to minimize any losing trade and to provide more signals, and are to facilitate scalping (10 - 30 minute trades). There will be some minor losing trades with this strategy.
Other PSAR settings in previous screenshots are also useful, but for longer average trade times. For example, the one with 0.009 / 0.3 could even be used for day trading…
I use MT4 so not certain about the difference in PSAR settings, but it seems likely you would not need to adjust the Step and Maximum to 0.03 / 0.035.
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