Comments on my system
Did few modifications to my method, just for the sake of simplicity and increase volume of transactions / turnover for quick results.
1. Trade each pair that shows any potential of gain.
2. Discontinued using 1H and 3H charts. Now all trades are based on Daily chart. However, do consider 1H and 15M chart for finding better entries.
4. Risk reward ratio increased from 1:1. Now r/r ranges from 1:1.5 to 1:5, depending upon support and resistances. This idea comes from a card game called Flash, if you are familiar with it. The person who leaves money on the table usually wins.
5. Not a very good idea, but rely much on trend line break
6. Trend direction is no more important because of built in safety with higher r/r.
7. Take discretionery high return low risk trade with huge positions using hairline stop loss. Once decide a direction, keep on trying a killing in the same direction, maybe several times. If PA hits my hairline stoploss, let it go and start again when it changes its direction. Do not wait for it to come back to where I was stopped out, start right from where it changes direction to my bias. My bias is based on daily chart reading.
8. Have simplified posting trades and results as it is very difficult to post all instruments, entry prices, close price, sl and tp and exact time of entry and exit. It is a matter of how much you trust me. I cannot think of a reason or benefit for posting incorrect trades and results anyway.
Did few modifications to my method, just for the sake of simplicity and increase volume of transactions / turnover for quick results.
1. Trade each pair that shows any potential of gain.
2. Discontinued using 1H and 3H charts. Now all trades are based on Daily chart. However, do consider 1H and 15M chart for finding better entries.
4. Risk reward ratio increased from 1:1. Now r/r ranges from 1:1.5 to 1:5, depending upon support and resistances. This idea comes from a card game called Flash, if you are familiar with it. The person who leaves money on the table usually wins.
5. Not a very good idea, but rely much on trend line break
6. Trend direction is no more important because of built in safety with higher r/r.
7. Take discretionery high return low risk trade with huge positions using hairline stop loss. Once decide a direction, keep on trying a killing in the same direction, maybe several times. If PA hits my hairline stoploss, let it go and start again when it changes its direction. Do not wait for it to come back to where I was stopped out, start right from where it changes direction to my bias. My bias is based on daily chart reading.
8. Have simplified posting trades and results as it is very difficult to post all instruments, entry prices, close price, sl and tp and exact time of entry and exit. It is a matter of how much you trust me. I cannot think of a reason or benefit for posting incorrect trades and results anyway.
The Thief of Wall Street