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Originally Posted by newdigital
It is the same with me.
I am trading from 8 am till 4 pm Alpari time and not trading at night. Because I observed that correlation between market and the system is not good at night so it is much better to trade during the day time. But it is my experience only.
I want to say that it was big movement few days ago at night and in the morning and this system did right signals to enter and it was more than 150 p in profit for 3 pairs each (more than 400 p for 2 days in total for 3 pairs). I am using H1 timeframe as I said above and did not try H4. I think your experience with this system is important. As I understand you are not using any confirmation of the signals on M15 or M30 for example?
May be because of H4.
I think this system is more accurate on H4 than M15 and H1.
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I have attached a zip of my metatrader "profiles" folder this can be put in metatrader and used to show how I have my charts set up.
I have looked at lower and higher timeframes while trading on 4hr, but 4hr is the main view of the market I am using. 1hr and Daily are also useful.
The weird RSI (2) indicator was suggested in the brain trading manual for getting a better entry on a retrace after a braintrading signal.
To enter a trade both right and left 4hr charts have to agree.
The MACD is there simply to look for divergance.
The 55 SMA and fibo lines show if price is overbought over sold etc. So if Braitrading says buy GBPUSD when it is near the +377 fibo you know that it isn't going to be a long run up! Conversly if Braintrading says buy near the -233 fibo then a good move is more possible.
The fibos also make excellant take profit points. If price is at the 144 or 233 and the Braintrading bars go green, closing the trade might be a good move, (or just make the stop real tight). However if the bars are still blue then you could consider holding as price is likely to move through that fibo and on to the next one.