4xRider DAILY Trade Picks

[FXCatty]

Hey, so I've devolped my own Trading System which gives auto buy/sell/continuation signals. I will be placing my trades on the Daily Charts around 17:00 EST.

I would like to first cover benefits of my system.

1. Daily Charts so moves are bigger.
2. Don't need to sit in front of computer to make $.
3. When open positions are in our favor we receive and follow the continuation signals.
4. Ride LARGE trend moves.

So now I want to quickly go over my chart so you know what your looking at when I make a trade recommendation and post screen shots.



Okay, so Green/Red arrows are signals given when "indicators all align up." I do not take all the trades, I have a certain filter I use which I just can not get it to work on a "preset" filter so I have to manually trade the system.

When we are in "good" trades each DOT is continuation entries. So green dot would be long and vice versa for short. The other frames are useless for you since I'm going to be posting trade recommendations.

Why follow 4xRider picks.

When I began my trading quest I wanted to be able to easily capture a large amount of pips each day. (Everyones goal) So I worked on a system that doesn't just have 1 lot when a trade goes in our favor. The easiest way imo of doing that was larger time frame as the Trend moves can easily go for weeks covering large amount of pips. So, I ADD another lot each day trade is going my way. So a 500 pip move over 9 trading days, I'd have approx 6 or 7 positions total. Which quickly compiles to large wins.

So heres the harder part, Since using daily charts your drawdown can sometimes easily run 100 pips vs us.. So I recommend using previous days high +10 pips or soo as a stop exit. When the trade goes bad after day one, we dont add any lots!

Soo, good luck to us and lets see how this goes. ALL I ask is show some intrest on this forum so I keep motivated on keeping it going!

[popoola]

Hi 4xRider

Good luck with your indicator. I agree with you that intraday trading is quite difficult and that trading off the daily chart can catch a lot of pips if the trade is in your favour. Just look at the chart of the euro over the last few weeks. My problem with your system is the way you add to your trades. If the market move in your favour 80 pips and the next day you add another you only need 41 pips and the trade is against you. I would suggest that start multiple contracts at the beginning and take them off as you move in profit. The only way the trade will work for you is if you are moving your stop as well to breakeven. You would hate to be up 800pips from multiple contracts and in one day we get a 100 pip move down and you loose everything. If I got you wrong please clarify

[FXCatty]

Hey, thanks for showing some interest. The way I "add" continuation is so that we have multiple lots riding a trade. I attached some screen shots of recent activity and it will prob show more sense on why I add each day. My signals show at start of new daily bar. (hindsight purposes wanted to share that)



Please note, not all signals taking, a lot depends on the bottom frame and where that indicator is positioned in relivance to signal.



I hope that shows why I add the signals on to it..

As of right now, there are no new trades to post. I need to wait for indicators to come back into correct placement for "maximum profitability" The only downfall to dailys is that I have too much spare time!


I have a few set rules which filter the nonsense trades or continuation which are doubtfull to go anywheree. I just don't see the point in sharing those rules because I'm just giving signals I am taking..