davewooldridge
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is that s/r indicator superior to the one in fpm already?
I've been trading the 4 hour mechanically (Testing) but had a hard time keeping up due to travel with my day job and I'm going to start trading the daily on the next signal.
This system works and has already proven it self. The daily's may have had a bad year in 2009 (exiting with the trend that is) but you still came out ahead. Jim has been posting his results on the 4 hour for years and holds back nothing. He loses some months and doesn't try and hide it. In the end he comes out way ahead!!
Almost any one can trade the 4 hour with out losing sleep every night, it just takes a little planning. The heart of the system is the Fast and Slow trend. When they cross you trade. Before they cross you get and arrow and numerous warnings Before you go to bed just check your charts, if you don't have a warning or an obvious cross coming then go to sleep and check the next day. If you miss one then get in late. This is a trend catching system, not day trading, getting in a little late should not be a problem.
Jim seems like a great guy and gives great customer service. I've seen a few people mention that he should be on the boards answering questions. I say good for him that he isn't, his system works and if he came on the forums every so called expert trader would come out of the closet and start challenging him. If he was a marketer he would be here selling, but he's not, he's a trader and he's trading.
It certainly looks as though the Parabolic will serve to complement an exit - that was the idea so excellent work - well done! I have a question though - what helped you decide that at no.2 position you moved your stop (as opposed to to say the candle or two before)? Or I presume you were gradually moving it until the Parabolic signalled an opposite move. It was certainly fortunate that at no.3 the stop would have been hit - and wasn't. And as is evident, the white arrow comes way too late. I really like the clean look of your screen/view. I have very positive feelings regarding this route in finding exit points. Many thanks and hope others agree!
Hi fxtrader85 - what settings do you have for the Parabolic? Try...
Step 0.01
Maximum 0.094
Trend Minimum 5
these are settings utilised for M15 and M30 but may work faster for the 4H charts too!!
Folks can I ask whether you keep positions open during the weekend when trading on the 4hr or daily timeframe. Jim doesn't really state anything on this in the manual
Thanks
Definitely yes. When you look how long Jim´s runs are, he must leave positions open during the couple of weekends.
Pedrosek, thanks for your input. I have asked Jim to confirm but not got a response yet. In fact he hasn't replied to any of my last 3 emails