I have. I’ve now set up an alarm for every H4 candle (except the two candles in the middle of the night) on my Android phone so that I don’t forget. Actually it’s set for 15 minutes before so that I can get to the computer and prepare for the candle close and make some mental preparations ready for candle close.
UPDATE
This is what my alarms look like on my HTC Desire phone. I just click on the time on the home screen, then on alarms and I see this.
My HTC Desire Alarms screen
I am now using Oanda’s new MT4 platform for my demo trading, the times are different to what I’m used to, so will need to practise for a couple of weeks to get into it. Oanda is set to NY time I believe, and I’m used to GMT (UTC). I am monitoring GU, EU, GJ, EJ, GC, AJ pairs and will aim to increase slowly the number of pairs I’m monitoring.
Candle close times in my time zone are 05:00, 09:00, 13:00, 17:00, 21:00. 01:00. This means I will not be monitoring the 01:00 and 05:00 candles. I will manage any open trades with an appropriate stop loss at these times. My extensive testing has shown that the Asian session on most currency pairs is relatively quiet. This is not always the case though, hence the use of a stop.
My new trading room has been built (I’m sitting in it now), and there’s some snagging to do to finish it off but I’m well pleased. I’m sorry but I couldn’t resist showing it off:
Moo Trading Room
I’ll do some internal shots later. Good trading to all!
I thought I’d give an update as to how my research is going. I have decided with the advice of the MAX instructors (yes, they still give advice even though the course has finished) to learn the MAX rules by scrolling lots of charts instead of using the strategy tester. I am going to scroll through five years of the H4 chart on the following pairs:
Each pair generates about two MAX trades per month on average, so with ten pairs I get the possibility of about twenty trades per month on the H4. That’s plenty for me. What I am starting to notice after having recorded about 200 trades into my spreadsheet (I’m not using MooDB for this exercise) is that I am starting to get to know the price action well. One of the MAX exits uses price action and indicators to confirm. But I am often finding that I have a pretty good idea what the indicators are doing without even looking at them. It seems as if the formulas for the indicators have been learned by my subconscious mind and it’s doing the calculations for me. I still do check the indicators because sometimes I’m wrong, but most of the time I can trade the chart just by looking at the price action and the MAs. I found that quite interesting because it required no mental effort on my part, my brain just learned it by itself without any conscious direction.
I will still use the indicators because I am still a novice trader and I want to be sure, however it’s very interesting to me that 90% of the time I can predict what the indicators are doing before looking at them. Has anyone else found this?