HGI for beginners.

[nanningbob]

10-15 pip stop loss? Do you realize what that means in real money? Your trying to predict the market to a tenth of a penny. Imagine going to a stock broker and buying Shares of IBM at hundred dollars and telling him you want to close if price hits $99.9990. He'd laugh at you and wouldn't even take he trade. Problem is people come into Forex and don't even know what they are trading. Your trading hundredths and thousandths of a penny and you think anyone or indicator is gong to predict that?? Find yourself another field to trade. All your going to do is lose your money.

[mw108]

10-15 pip stop loss? Do you realize what that means in real money? Your trying to predict the market to a tenth of a penny.

Thank you for your answer, Bob. I mean 100-150 "Poins" (= 10-15 Pips) SL. 10-15 Points SL would be crazy, I agree.

But how do you guys trade this? Do you instantly get in when you get a signal? What signal? Only strong arrows or "any" signal? Or do you wait? Where do you put your SL? Or do you not use SL? Questions, questions ...

Thank you for any help!

[PJSantos100]

Hi All... I Have a doubt

Imagine that you are seeing the same pair in H1 and H4 (Eg: EURUSD)....

In H1 you see a big green arrow and in H4 you see a big red arrow.... What should we do?

Thanks in advance

[nanningbob]

Good question PJ. The four hour chart will give you the weekly Trend. There will be five trading days in a week. The red arrow is telling you that the weekly candle is probably in a downtrend. However of the five days three may be downtrend and two will be uptrend. Or it could be four days down trend and one day uptrend. The one hour as telling you perhaps this is the day it's going to be in an uptrend but overall you are looking at a downtrend for the week.

So the green arrow is a counter-trend move. So you probably will be trading against the overall trend for the week but it could still be a profitable trade just not as big. It depends what kind of trader you want to be.

[ronwarshawsky]

First of all, Dear Bob – Thank you very much for pointing me towards the “CSS WITH HGI” and for your great guidance there. It was very helpful and 100% must read for newcomers.

Gentleman, below is what I have learned there about rules for optimizing the trade entries. Please feel free to add and correct me. If you can share more guidance and your experience trading ranges with HGI, it would be very helpful.

1) To trade in a major trend direction Bob is checking daily values of the CSS indicator (available on a “CSS WITH HGI” forum). This check is done once a day to see which currencies are in an up tend (over +0.20) and which ones are in a down trend (under -0.20).

Per Bob:

“I use CSS to tell me where to look and HGI to tell me when to enter and exit.”

“Daily CSS involves a currency being on top or bottom for weeks or months at a time. So you trade that one direction until is goes back to center.”

2) Per Bob, trading around session opens is preferable:

“I like to trade session opens. JPY session for 3-4 hours, EURO session 2-3 hours, and USA session for 3 hours and quit...”
“When a currency moves at the beginning or just before a session and HGI sends 3 or more as a buy or a sell. Its moving baby so jump on board.”

3) Bob also considers trading using 4H CSS. In this case, there is a different interpretation of currencies behavior:

“The 4h CSS is a different animal and you read it different. Here a currency reaches the top or bottom for only a day or a couple of days and then changes. So instead of a currency being strong/ weak all month here it's a day or so. That leads me to read it different so the most important thing to know is: ta da...... Once a currency gets to the top or bottom the move is done and it's too late. So what is more important is the angle up or down and the crosses.

So simply put JPY and CHF angling up so look to buy from them. All others angling down so look to sell those except USD which is hiding in the middle. I would look for buy signals for JPY and CHF with JPY offering the strongest against AUD NZD GBP. CHF may have a days worth of steam left in it or it maybe done.”

4) Xxxx.00 lines and “after 3 hours into a session“ are recommended as S/R (support/resistance) and TP guidance:

“Mentally I watch the xxxx.00 lines. Price respects the 100 pip points on a chart and to me the most consistently S/R lines on a screen. It seems price either bounces here before it breaks through or is rejected. My second most favorite area to TP after 3 hours into a session.”

5) Overall approach:

“Once I get 2-4 signals I just enter 3-5 pairs of that group and let them run for 2-3 hours and close. Picked up 100-150 pips each time and they rarely sat in the negative for very long. I will play the 1 hour charts again this week and wait for multiple signals from a currency at the beginning of a session or just before a session and close them up 2-3 hours into the session. Maybe the easiest trading plan I have ever produced. Let HGI do all the work and buy or sell based on the signals coming in on the same currency group. Dont have to watch screens much and if signals dont come in at the beginning just turn it off until the next session”

6) Range trading – Use BB (Bollinger bands) on 1H with 40 as parameter

"Here is an example of how you can use BB to filter HGI in trend times on the 1H chart. I use 40 instead of 20 as my BB setting. I marked in white those areas where HGI and BB agreed to trade. Notice that GBP/CHF stayed in a 300 pip range all week and from the green line produced 4 nice trade on the gbp/chf for the week. I also marked two from the previous week. One trade would not have been that hot but most would have fit in the 50-150 pip runs. So here is an example of using BB to trade with HGI in Range trading on 1H chart."

Regards,

Ron Warshawsky

[PJSantos100]

Good question PJ. The four hour chart will give you the weekly Trend. There will be five trading days in a week. The red arrow is telling you that the weekly candle is probably in a downtrend. However of the five days three may be downtrend and two will be uptrend. Or it could be four days down trend and one day uptrend. The one hour as telling you perhaps this is the day it's going to be in an uptrend but overall you are looking at a downtrend for the week.

So the green arrow is a counter-trend move. So you probably will be trading against the overall trend for the week but it could still be a profitable trade just not as big. It depends what kind of trader you want to be.

Dear Bob ,

Thanks for the explanation i think i got it ....

I'm a intraday trader so i suppose that i should use the H1 chart , am i right?

Yesterday it was a good exercise with this conditions , and it was profitable in both ...

Thanks a lot for having such a forum with all of this great information...

Cheers

[nanningbob]

Your Welcome

[marty]

I have no RAD or Wavy Lines on my Chart.
The max bars in history is set to 250000

What is my mistake?

Best wishes from germany

[milanese]

I have no RAD or Wavy Lines on my Chart.
The max bars in history is set to 250000

What is my mistake?

Best wishes from germany

post a pic so we can see your problem..

[marty]

Thank you milanese

AUDCHFH4.png