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Old 25-01-2010, 09:20
Saruman Saruman is offline
Level II Lasers Member
 
Join Date: May 2009
Posts: 27
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Quote:
Originally Posted by Forex37 View Post
Hi Saruman,
You used to trade 4hr preferrably. Are there any differences between the different 4hr-cycles, i.e. candle start at NY (ldn) opening - vs- starting 1 hr after NY (Ldn) opening - vs starting 1 hr before .............. ? How do you decide WHICH cycle to use - or use just the one your broker offers? And how do you handle NEWS?

Thanks

Forex37
Hi Forex37,

I have switched to a trading strategy on Daily candlesticks, and it works fine for me, but you have to be VERY patient, which most traders aren't. :mad:

Anyway, if you'd like to trade the Super simple system, i think it also works very nice, and it works on ANY time scale.

When you let the 4 hr. candles start, is not so important.
Different settings will lead to different signals, but after a longer period of time, I think it will lead to the same overall results.
So I'd suggest you use the candlesticks that are the same as the time you are actually living in. So that 16h00 on your chart = 16h00 at home. It's the easiest way to do this.

How do I handle the news?
I don't trade the news.
It is very risky and it is almost gambling.
Of course, some news can move the market big time.
That's why you need to trade with a small leverage.
Small leverage is the key to survive, along with patience and discipline.
And if you think that today the market will get stirred up too much by the upcoming news (e.g. the first friday of the month), you can decide to stay out, and wait for the next day.

Saruman
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