Managing a Forex Business

March 30th, 2012, 10:51 PM

Wanted to start a discussion on the practical aspects of trading higher time frames with the Forex market. I am most interested in trading a 1 hour time frame and have had some early success just using price action. The problem is I live in the mountain time zone in the US, and need to sleep sometimes, so I can easily miss the action that takes place during the European session. This is less of a problem for futures traders who trade a 5 or 15 minute chart, but if you want to use a 1hr, when do you sleep. It isn't much better if you go to 4 hour bars. I guess you can get up at the bar close, but it still means you miss a ton of the action.

I have been thinking about maybe looking for an alert service or something that would notify me if a key area is breached, but thought that maybe the forum would have some ideas.

Look forward to some ideas on how to manage the practical side of the business. Thanks

May 8th, 2012, 10:02 PM

RambleDog

Wanted to start a discussion on the practical aspects of trading higher time frames with the Forex market. I am most interested in trading a 1 hour time frame and have had some early success just using price action. The problem is I live in the mountain time zone in the US,

I have been thinking about maybe looking for an alert service or something that would notify me if a key area is breached,

Came across your post because of your comment on Richard Weissmann webinar

Don't know if you found what you were looking for.
I happen to enjoy 1 hr and occasionally 4hr fx trading.
I live PST and Frankfurt London open ok for me as I am a night person. But any time
should be ok other than between NY close and 1st hr Tokyo

Trading 1 hour PA with candle formation alerts (engulf pin inside etc) can easily be set up
with Meta 4. You can trade with a different platform, use Meta4 for signals only.

Please adv if you are still interested; I can direct you to a discussion specifically about this
topic. If you are familiar with Meta4, alerts for various fx pairs can be set up in no time.
Not a pay service, just some people who like to come up with ideas and share them same as
here on futures.io (formerly BMT) forum.

C

May 8th, 2012, 10:25 PM

I would recommend trading the 4hr and daily charts......if your afraid of possible larger losses just trade smaller size.....the 1hr and smaller are less reliable.

Managing a Forex Business

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Managing a Forex Business