Trading Efficiently – The 2 to 3 Hour Trader

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4 hour trading entry and exit almost to the pip

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  • Post # 1
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  • First Post : Feb 2, 2020 8:00am Feb 2, 2020 8:00am

So, ever wondered what support does hold and what not? Would it be possible to set an entry and forget?

Here is my first thread I am starting and I am about to show you what to do and what NOT to do.
remember, there is no holy grail. All I can do is showing you my simple way of trading. All you need is patience and good money managment.
So here we go.

1) First of all, I want to tell you all that I don’t care about news! Even if it is NFP or GDP or whatever. Price will always move with a reason what has been determined before the news comes out. Don’t believe me? Ok check where the Euro is currently, or where the US$ is with all the money printing. See, it doesn’t matter anymore. News is just an event that can speed up the price movement to the determined levels with shaking out as much as possible! Remember this.

2) It doesn’t matter neither that it is asia trading so it is irrelevant because London didn’t opened yet. Also another thing to debunk right now. I have seen big moves before during asian session. Remember, market NEVER sleeps! Not even in the weekend! FX is 24/7. Just for the public it is 24/5. But yes, market is ALWAYS moving.

Now, lets get going. I don’t use any indicators, no volume no MA’s. Simply a 4 hour chart and that’s it! If you want to add Moving averages or whatever indicator just go ahead. I am just going to show you how to determin good entry points and exits.

Patience is really important. If you’re a day trader then this system is probably nothing for you because we’re trading off the four hour chart.
First of all I am going to show you a four hour chart of my EUR/USD as it is right now. I have drawn my support in it. There is no 100% winning system. You will fail once in a while but if you’re determined and have patience, you will make much more with the winnings.

  • Post # 2
  • Quote
  • Feb 2, 2020 8:13am Feb 2, 2020 8:13am

So those are my levels I watch currently with EUR/USD.

Now let’s get to the important question. HOW TO DETERMIN ENTRY POINTS?

It is really just looking at the chart. If you look very good, you will see that I am setting my lines on the opens and close of the 4 hour candle. This is all you really need to know! Remember, Open and close!

EU is trending right now what is very good. Remember, it really needs big forces to change a trend. All you need now is to have good entry points.
When price is trending up in this example the white candles are the bull candles and the red candles are bear candles, we will always see a moment of pull back.
That’s where you have to focus on. those pullbacks are important. No matter of the volume, if it is during news or during Asian sessions. Those pullbacks are the key for the right entry. I wouldn’t buy Euro this high but would rather wait for the pull backs right on those green dotted lines. This is what you have to look for. The latest pull backs. So the close of the bull candle and the open of the bear candle. Just put a line there and see. In this example we can clearly see that Euro didn’t even retested it. This means at in the future, these levels will be seen. The longer it takes the better it is as we would have some good targets in a bear market. So these 2 lines havn’t been retested yet.

Советники: News Trading v.3.6 – страница 3

Evgeniy Serov :
В журнале должно быть сообщение с номером ошибки, вот там и смотрите. что не так. Print ( “Торговля остановлена . Ошибка # ” ,err)

Подскажите где этот журнал находится.

Спасибо, за обнов ление .

This morning i have had 3 news important. So that EA should have taken decisions to place trades.

But nothing happened, no error logged, dll activated.

Moscow is 12:43, and my local is 11:43 (Paris), broker(fxpro) 12:43 http://www.timeanddate.com/worldclock/

so there is something wrong with ‘time’ maybe summer / winter switch

Здравствуйте, Евгений Серов!

Спасибо за ваш труд, особенно как новостной советник , версии 3.6.

Есть проблема. Не корректно отображает время выхода новостей. Т.к. на прошлой неделе, работал корректно, замечаний не было. А на этой неделе, начина с понедельника, 11.04.2020 и по сей день появился глюк.

Trading Efficiently – The 2 to 3 Hour Trader

) fame (This is an approximation)

  • You need Trade Level to be able to use a better Ship or better Equipment, or to do certain quests.
  • Trade level will increase when you earn a certain amount of experience.
  • You get experience selling goods.
  • If you sell ordinary goods: EXP = func(PROFIT)
  • If you sell Local Product: EXP = func(PROFIT) + localProductBonus(QTY, DISTANCE)
  • This was on SNES. I still think its a great game, but when you play this? Its so relaxing and the game somehow manages to make trading fun in various ways. Even doing tradeskills and selling in market makes it rewarding. Can choose 1 of 3 classes but you can learn skills in each class to combine your own unique character, cant do 33% because youll miss out on certain quests, but can be lets say, TRADER 70% 30% MARITIME(Battle/Pirate).

    Only slightly stressful feature is the tutorial. As you do it and progress you end up learning that it is very much needed to do this to get to know how the game works. But youll appreciate you did. On the brightside you dont have to finish it either, if you think you know enough then you move on., you always have the option of continuing. I will dedicate the next years on this as my main MMO. Im sorry that i didnt get to play it earlier.

    The Other Trader (2)

    As price moves into my setup areas, “the other trader” is always at the forefront of my mind.

    Who created this recent move against market bias? Are they trapped? Are they feeling stress? Where is the point of extreme stress at which they’ll bail out of their position?

    If I can’t feel someone on the other side of the market getting it really wrong, there is no trade.

    In recent weeks we’ve looked at some examples which include a break of a key level, which then stalls and fails.

    You can see these recent articles here:

    These type of trap scenarios provide some of my favourite trade entries.

    But we don’t always need a break of a level in order to find trade opportunity.

    What we’re looking for is a move, against market bias, into a REALLY LOW PROBABILITY place to trade.

    Like this, for example:

    Reality is never as nice as these “text book” line diagrams though.

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    So let’s look at a real-world example.

    There is no way I’m going to immediately fade such a move. It’s not my style to step in front of any strength like this. Maybe these late buyers know something I don’t know. Maybe the momentum will continue right through the High of Day.

    But… what if it doesn’t?

    What if price does stall? What if the late buyer is placed under extreme stress?

    This could perhaps offer us entry short, for a snap back towards recent lows.

    So let’s zoom in to the lower timeframe chart to see what happens.

    Place yourself in the mindset of anyone who entered late in the initial rally. Perhaps someone who jumped on board the massive spike of momentum as price accelerated into the highs.

    How would they feel during this stall?

    Perhaps a little concerned, I guess. But certainly I don’t imagine they’d be giving up yet. It still “looks” like price wants to rally.

    Well… at least it did until this happened…

    If you’re not achieving the results you wish to achieve, consider placing more thought towards who is on the other side of your trade.

    It may be the paradigm shift you’re seeking to take your trading to new levels.

    Written by Lance Beggs

    View all posts by: Lance Beggs

    9 Comments to “The Other Trader (2)”

    Hi Lance,
    Great article, I found great to read not just about technicals but also process of preparing and taking the trade. Real time trading. Its really big value of your work.
    And I got a question: 2nd target was pretty obvious but the 1st, for me its just a one-bar pullback from this pretty strong leg up. Could you write sth about it?

    Thanks. I’m glad you’re getting value out of my articles. ��

    If you look to the 1 minute chart at 10:00 you’ll see a long-legged doji (very wide bar with long upper and lower tails). This was a news release that caused a sudden spike in volatility.

    You can see it on the 15 second lower timeframe chart as well, as an initial spike up and then down.

    The first target was the small area of congestion where price broke the highs of this news spike. There was potential for some reaction at this point so I was happy to take partial profits. Hindsight showed that it wasn’t necessary to exit at all. So be it. I trade very defensively and my initial exit quite often underperforms.

    All the best with your trading,
    Lance.

    Great article! An essential reminder to always do our homework (as amply elborated in the course) before jumping to conclusions.
    Cheers.

    Lance, I really like the way you show your thought processes with screenshots of the chart to illustrate the points in time. No one else does this, it’s like a trader’s comic book! I’m learning a lot this way. I’m reading your lost blog posts from 2020 on (slogging through the bogs), and reading the recent ones going backwards. The things you talk about with traps etc are all good techniques for price action trader, and people need to realize it’s gold. I’ve been following Mack at P.A.T and your studies are complementing what I’ve been trying to do perfectly. You tell it like it is, there is no shortcuts, there is hard work, price action is the way to go. (Enjoyed your Chat with Trader as well). Keep up the good work, I appreciate it. Thanks.

    tcat92, Thank you so much for your kind words.
    You have MADE MY DAY. ��
    All the best with your trading,
    Lance.

    the market stopped dead, because we tested the highest bull C of the opening bull move, b12 C
    scale in bull get out after deep PB

    also the apex of that triangle is a good place to S

    Agreed. The apex of the triangle is a great place for a short. If I recall right it dropped too quickly for me to take action.

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