This is a compilation of a few threads and countless of hours of programing by many other individuals. Especially Cobras THV thread. The other thread is Flag Trading the Trend by Divergence. I've combined the aspects of these two threads with a Doda Donchian Channel. This will not be an ongoing thread. It's simply my trading sytem and style and wanted to share. I dont have time to answer alot of questions. Will there be losers yes but there will be many more winners. Trade consistently with lot size and follow rules. Sound money management is a must. For you to win someone else must lose money.
In no way am I trying to take credit for anyone else's hard work. I Have been studying and listening and winning and losing money. These are my best odds of winning in forex. Due to time constraints i'm on the 1 minute chart. Trade times US 8-11:30 EST and London 3-6 am EST. I set Buy and Sell stop orders with entry off the Donchian Channels, my Stop loss determines my Take Profit with a 1 to 1 Reward risk ratio.
I let the market enter my trade and let it determine my outcome. When I get involved my emotions, feelings, intuition screw me up.
To learn more about the indicators go to Cobras THV Thread. I also suggest reading Flag Trading the Trend thread also.
I've posted 3 trades from today with rules. I was in the market for a total of 9 minutes for 30 pips today. I have an alert that calls me when conditions are right and I head to my pc. Tired of staring at candles for 12 hours a day. But I think of it as going through boot camp for the last 2 years. Lost plenty of money in beginning but slowly gained it back. One thing I learned when in profit stay in profit. Break even is better then a loss and another trade will come along.
1. Trend change
2. Unity 5,15,30,60 Min TF
3. Retrace or Flag from Donchian Channel
4. Set Order at Upper or Lower Channel
5. Set SL at high or low of retrace
6. Optional Set TP at 1 to 1 reward to risk ratio minus spread or TP at first Candle color change
Everything in zip file in Appropriate folders
2 original and new early entry template
Please read up on woodie CCI and patterns for entries.
The original system is still good if not better then early entry. Use caution on early entries.