SAR Method on 4hr Charts - MT4/MT5 Resources
Hey guys,
You may or may not have seen me post something similar before. This is a new version of anything you've seen before, and promises to be improved. Check out the video for a clearer idea of the method. The video can be viewed at the following URL Best to watch HD version.
Basically it is a breakout based system that does not use any technical indicators at all. There are only prices and a few horizontal lines on the chart. I was part of a trading team that used to only trade three pairs, these were all on the 1 hour chart, we had a weekly profit target and then we quit. Although successful, it was very physically draining due to the need to check the charts at the top of each hour. Then the team had some other issues, so we quit.
A while ago I was demonstrating on multiple currency pairs on the 4 hour chart and had some very successful months followed by some very lackluster months. I made some changes to the rules and was very aggressive in reducing risk as quickly as possible, which resulted in many more trades than necessary. But I can see its potential.
I decided to revisit the idea, go back to the original rules, and make some other adjustments. I already have a pretty good framework on where to start, but I'd like some feedback on how to really improve it. I did discuss some ideas in the video where I talked about closing half the position at +200 pips and then moving the second half to a position no worse than breakeven. If the SAR is on the wrong side of the entry then I would use a hard stop but still hold the SAR in place for a new reversal trade anyway. It would be better if the SAR is on the favorable side of the entry point so the trade will proceed normally. Another thing I'm considering is whether it's possible to consider a larger position size after a losing trade. Not a martingale, which is limited to one or two trades. Similar to once you've recovered your previous losses, flatten out half to cover the losses, and then let the remaining half continue as usual. Something I had to play with.
Also not sure if there is any chance to turn it into an EA, or at least a semi-automatic EA. I've talked to my programmer about this in the past and she's pretty confident she can figure something out. Setting up orders manually can be a bit confusing, you have to double check everything and make sure you cancel old orders etc. Remember, you will only modify your order when your SAR moves, because other times you will just move the yellow line around the chart.
Looking forward to what other traders think about this, good or bad.
You may or may not have seen me post something similar before. This is a new version of anything you've seen before, and promises to be improved. Check out the video for a clearer idea of the method. The video can be viewed at the following URL
Insert video
Basically it is a breakout based system that does not use any technical indicators at all. There are only prices and a few horizontal lines on the chart. I was part of a trading team that used to only trade three pairs, these were all on the 1 hour chart, we had a weekly profit target and then we quit. Although successful, it was very physically draining due to the need to check the charts at the top of each hour. Then the team had some other issues, so we quit.
A while ago I was demonstrating on multiple currency pairs on the 4 hour chart and had some very successful months followed by some very lackluster months. I made some changes to the rules and was very aggressive in reducing risk as quickly as possible, which resulted in many more trades than necessary. But I can see its potential.
I decided to revisit the idea, go back to the original rules, and make some other adjustments. I already have a pretty good framework on where to start, but I'd like some feedback on how to really improve it. I did discuss some ideas in the video where I talked about closing half the position at +200 pips and then moving the second half to a position no worse than breakeven. If the SAR is on the wrong side of the entry then I would use a hard stop but still hold the SAR in place for a new reversal trade anyway. It would be better if the SAR is on the favorable side of the entry point so the trade will proceed normally. Another thing I'm considering is whether it's possible to consider a larger position size after a losing trade. Not a martingale, which is limited to one or two trades. Similar to once you've recovered your previous losses, flatten out half to cover the losses, and then let the remaining half continue as usual. Something I had to play with.
Also not sure if there is any chance to turn it into an EA, or at least a semi-automatic EA. I've talked to my programmer about this in the past and she's pretty confident she can figure something out. Setting up orders manually can be a bit confusing, you have to double check everything and make sure you cancel old orders etc. Remember, you will only modify your order when your SAR moves, because other times you will just move the yellow line around the chart.
Looking forward to what other traders think about this, good or bad.
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