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  • #6736

    Steve Merricks
    Participant

    Hi all
    Just looking for some feedback on Steves new 4PM strategy for those that have tried it. Ive tried it out and had some success but it left me wondering if it was beginners luck as I’m not too sure if I was reading the ADX indicator correctly, especially how the yellow line fits in and all the planets aline to make the best signal. The markets looked to have a great deal of S&R when Steve did the videos so in some cases I was a little unsure. It would be good to see exactly the best conditions and the idea signal to strike a trade. Any advice or extra training would be appreciated as it looks a great strategy.
    Regards
    Steve

    #6739

    Nigel Walton
    Participant

    Hi Steve
    I am new and only traded a Demo account the last month and have been successful using only support and resistance with Stochastic.
    Trying the 4PM I initially lost trades but later improved, I found interpreting the ADX confusing and began also taking into account support and resistance which I think helped with winning trades.
    OK so allot of 4PM practice needed for a newcomer like me. I agree that some training in better trading condition (with longer candles) would be useful however, I think some further explanation of the 3 lines in the ADX and how to interpret their interaction with each other would be very helpful. For me it’s early days, I will be watching Steve’s training videos some more and practicing allot more to get the feel of the ADX from which I am sure how to interpret the signals will become clearer.
    Overall I am excited by this new strategy, like learning to drive a car it’s going to take practice.

    Nige

    #6741

    Steve Merricks
    Participant

    Thanks Nige. Yes I agree it looks a great new strategy. Further explanation would be great with better trading conditions though. Love to hear what anyone else out there thinks about this one too.

    #6772

    Tim Biermann
    Participant

    I agree that the ADX confuses me as well, I know roughly what the ADX does and what you need to look out for but not how to link the ADX to the other signals. Cant wait for the webinar!

    #6774

    Steve Jones
    Participant

    Well guys I am glad I am not the only one a bit in the dark on the yellow line etc. I was begining to think it was just me failing to get it or that I had missed something.

    yes the videos are ok but an article should accompany them with some more detail on each indicator and how the direction of each influences either a put or a call.

    i think that in the rush to get the strategy up on the website, the required written explanation and possible diagrams got left behind.

    I have watched the videos a couple of times but obviously need to watch them some more times and work out when he is making either a put or a call and why as he makes a trade.

    Just a suggestion, but Steve could make the indicators easier to spot on the videos too by thickening up the lines, esp with the harder to see colours like red for example.

    Looking forward to getting some more understanding on this one.

    All the very best
    Steve j

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    #6847

    Call Capital
    Participant

    Been looking at the Candle itself as indicator as the lagging indicators show what has just happened so have just missed entry not knowing which trade to select turbo or Binary to finish in next candle… first half binary and second half turbo
    and need a course on AXD

    #6910

    Steve Merricks
    Participant

    Any more feed back on the 4PM guys, Ive had a look through Steve’s recent webinar but again the market conditions were not ideal. Such is the unpredictability of the markets when you are trying to do a live webinar i guess. I am still a little confused as the ideal strong signal especially off the ADX. What ive gained is any 3 indicators in line seem to produce a good signal but the 4 in line are a strong signal, check the length of previous candles before placing the trade, look for the cross on the ADX for a reversal, ideally the parabolic sar with a bit of distance between the candle is good, look for the direction of fractual and check the direction of the RSI, yep get that.

    Let me know if I missed anything. What I dont get is the duration on the trade ie 2,3,4,5 mins etc or how long have you got left on the previous candle???

    Any advice would be good and feedback on this strategy.
    Thanks in advance
    Steve

    #6913

    Leonardo Zuñiga
    Participant

    I was using the 4PM today trades no more than $2.5 and got 17 ITM 4OTM (2 of this my fautl), I usually use 2 charts one with 10 minutes candles and the other with 5 minutes candles I wait to the 5 minutes candles closes and if the indicators are matching I put the 5 min trade, sorry if you can’t understandme very well.

    #7767

    Jim
    Participant

    Steve M – I hope I am understanding your query correctly and just stop reading if I am telling you something you already know 🙂

    To check how long you have left on a candle before a new one kicks off, if you are using 10 min candles, then new ones will spawn at on the hour, ten past, twenty past, half past etc. and so on. For 5 min candles: On the hour, five past, ten past, quarter past, twenty past etc. and so on, so just keep an eye on the time on the bottom right of the IQ screen.

    Regarding the duration of the trade – good question! When I was using 10 minute candles I was getting screwed all the time (placing 4 min trades when a 5 min one would have done the trick and vice versa), so I switched to 5 min candles and had a hell of a lot more success doing 1 min reversals and 1 – 2 min “classic”4pm signal based trades. choosing 1 or 2 min trades mostly comes down to my instincts after watching how the asset was moving for a while. I don’t jump around like a rabbit between 6 different assets looking for signals and tend to keep an eye on purely one at a time, which for me anyway, helps me to decide on the 1 or 2 min trade and also lets me see the beginning of a strong signal and getting in there early rather than flicking between assets, stumbling upon a good “all points matching” signal, but then have the issue of trying to decide if that boat has maybe been missed (having not seen the candle at the start of the movement) or if it still has more to offer – the joys of trading binary options eh 🙂

    The above works for me and would be interesting to know if anyone else has had more success with 5 min candles rather than 10

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