Less Stress Hourly Trades - MT4/MT5 Resources

I spent the last month of 2011 and the first month of 2012 in a state of fragmentation. I started to find my groove again in trading 5 bar range charts in February when I had the opportunity to talk to an old trader friend who tried his best to convince me that smaller time frames would be too stressful as I get older. I didn't want to hear it, partly because I thought it was true, but I listened politely to his speech. Me being me, I took what he said and started trying to make it my own, not by coming up with anything original, but by adding a ready-made recycling filter and discussing it on forums like this one.

I've figured out a super easy, less stressful way to trade on any market. I haven't tried every market, just GBP USD, EUR JPY and Oil. But if it works for all three, it should work for anything.

The principles of this system can be summarized by the following quote from Jessie Livermore:

When I go bearish and sell a stock, each sale must be at a price lower than the previous sale. When I purchased, it was the opposite. I had to upsize my purchases. I don't buy long stocks when they're going down, I'm going to buy them when they're going up.

So, to identify those lower/higher levels, I added an indicator to visually point out higher highs/lower lows.

I use the T3 Trend Magic indicator to filter trades when price breaks through one of these levels. If the color is bearish and it breaks lower lows - this is a good trade. If the filter is green and a lower low is broken - pass. The opposite is true for bulls, we need to break the existing high with the green line to go long.

That's it. I know this seems a little too simple, but that's it. If you want to make it a little more complicated (not too much), look for the inside bar before the breakout. Search this forum for DIBBS or PETER CROWNS to learn more about the in-house bar.