No worries man! 
That’s why we are on this forum, to learn! 
2 Positions !
Long EURUSD - entry 1.3042- Comment: Stoploss is set at 100pips but will check how the trade progress, a close under SMA around(40pips down) then I will close.
Long EURJPY - entry 131.832 - Comment: This beast got massive resistance above it, if it breaks up because of strong momentum, the shorts stoplosses will trigger. That can give energy to a big long move up. This is my speculation. Im still sceptical. Will have a close stoploss around 131.240. That should give it room to move.
We will see how the trades progresses, so far im + profit overall with this system, still I have missed a good one on USDCAD. Been trading it live small account for 2 weeks.
Just a beginner here, correct me if I’m wrong.
But looking at EUR/JPY might want to be weary that it could turn out to be a double top?
EUR/USD now have a S&R in front to overcome and close above, as 1.3042 is less than 30pips to the S&R?
Either way both pairs have to close above the S&R?
Just my 2 cents
Hello All,
So Im back from a holiday. My brother graduated from University and we all took a vacation. I will get back to trading on Sunday/Monday. I will read through what has been going on and catch up.
See yall soon.
-ILZ
This is how eurusd looked when I took the trade. No resistance was there, due to sleep I didn’t check my charts either, only my positions on my smartphone. Closed it on -7pips loss, when I saw the new resistance.
This is how eurjpy looked when I took the trade. The new candle shows up in 43 seconds. Was taken out by my stoploss at 131.650. Placed a tight stoploss when looking at my phone, didn’t like the big resistance(double tops). If I had looked at my computer this night I think I would have exit earlier manually due to see the real charts with my indicators.
Looking at it even more, I bought in to a place of heavy ranging. Anyhow I had my speculation and knew the consequenses. 
I will start to look into my own money management plan, think I will modifiy stoploss and target with Average Daily Range for every pair, maybe open to trades, let one flow as long as possible and the other one with a target. Based on ADR. Will get back if I work something out. Seen to many trades in good profit being materialized to only a few pips in profit. Also needs to say that it’s saved when the big reversal has come.
Welcome back ILZ! We missed you… Congratulations to you and your brother and hope you had a nice vacations!
You are a very lucky man! This week and previous one were not so good for trending trades! I think most trades finish in loss or be. Anyway the system is awesome and ranging periods are the most difficult part of it!
Will be tuning this channel to read your thoughts!
Esteban
Ooook. Now everything is clear.
I know what’s your strategy for ranging markets in order to avoid the big DD of the system … take a holiday, and “come back with the trend”.
Thanks for sharing this key missing strategy.
2+2
How do you avoid ranges and retracements with this system…? I lost the trades I took last week with this system, because you usually have to enter right after a big move up or down, which leads to a retracement… At least that’s my experience so far…
For this to be a great system, it needs to “protect” you from entering right into a retracement or a ranging market… It’s not very hard to make money if a pair is only trending, but that doesn’t happen much!
Hope you guys understand what I mean, and I would love to hear some input about how you avoid getting beaten up in these types of situations.
I am a newbie here, but pls can we have a brief idea of how many people using this tool in % so we can appreciate the owner and probably have a review of things u think should be worked on.
Regards
Hello All. I have seen charts like this here but it caused ‘indifference’. Ilzalama, would you enter a ‘long’ here? (btw, Welcome back!)
Many Thanx.
Hi everyone! Would like to ask about the 4H TF. If I remember correctly, Ilzalama say we need to monitor them on 1, 5, 9… 1, 5, 9. So what time should I check them if I am on GMT +8? Thank you.
Simplest thing to do is to find out what time 4hr candles close for your broker - just hover your mouse above the latest 4hr candle and you will see what time it opened. Add 4 hours and that’s the close time and, consequently, the opening time for the next 4hr candle …repeat until you’ve completed 24 hrs.
Be wary of Gold, for some reason it does not follow the same closing times as the rest of the currencies, at least on my setup.
1 Like
Hi Aboka,
I am on GMT+8 as well. If possible you need to check your candle 4 hourly, at 8am, 12noon, 4pm, 8pm, 12midnight, 4am. (8,12,4,8,12,4). Normally the most active session is between 8pm-4am which I normally would miss some of the opportunities during my sleep.
Cheers!
Jess
Hi guys, I live in the GMT+8 zone also, but my broker closes on 1, 5, 9… on the 4H TF, same as aboka.
Guess it all voices down to which platform you use and stick to that?
Jesdan which broker you with?
I am from Australia so I trade using AUD. I am using Forex.com. My MT4 platform is using GMT time.
Jess
Hey mate im from WA, using VantageFX platform, but their 4H TF closes as stated 1, 5, 9…
Long Position EURUSD - Entry 1.30084, stoploss is close under sma200 or supertrend or 100pips for now.
Hi Hennessy,
Great… same state.
Cheers!
I entered this trade right after the closing of the last candle @ 1.30147. Ilz’s MM is just a guideline for us to follow so I supposed the SL is still at the level where you are comfortable with. For me, there is no fix rule about where to place the SL. For this case, I placed my SL at the support level, 1.29433. Still, this trade is very close to 200SMA so I will monitor this closely. Once the candle goes against my direction and closes below the 200SMA, I will close my trade manually.
Cheers!
I’m breakeven +3 now on eurusd. There is some resistance above, will see how price reacts.