As the title reflects i am now entring the 4th year in the study of charts and taking trades based on that charting.1 year live and with clients money who as i said in the title is happy needless to say so am i.
I play Daily bars, mostly on trend and i look for confluance on higher time frames.I use a custom indicator to help define support/resistance and pivot points.Max risk is 2.5% with a max of 9% in the order book.The system enjoys an 80% win rate and i make 75% more profit than loss which makes a great yeild curve.I manage the trades on the 4 hr mainly but i monitor the 1 and 15 mins as needed.I define targets for profit and divide my order in 3 so i can A.Take profit B.Go even C.Let run.All in any combo.The foundation of all the above is "PRICE ACTION" and WAITING till im really happy with the set up. I stay out on any NFP or rate change day.Sometimes i miss them or go break even to soon or take profit to soon or get stopped out for the spread and she goes to greater profit on that portion of the order thats just apart of the biz im afraid but all my choices are based on price action.I like to be able to look back on all my trades and see all the reasons in price action why i did what i did thats my anchor in these wild seas and why my client has great faith in me.Consistant in, consistant management,consistant out as my mentor said "fx is a marathon not a sprint".% returns i hear some of you say well if i can get approx 75% of any movement based on daily price action im happy the % return takes care of itself.Thats all i guess feel free to post me anything as i attempt to give a little back to this forum which has given me so much over the years.
I play Daily bars, mostly on trend and i look for confluance on higher time frames.I use a custom indicator to help define support/resistance and pivot points.Max risk is 2.5% with a max of 9% in the order book.The system enjoys an 80% win rate and i make 75% more profit than loss which makes a great yeild curve.I manage the trades on the 4 hr mainly but i monitor the 1 and 15 mins as needed.I define targets for profit and divide my order in 3 so i can A.Take profit B.Go even C.Let run.All in any combo.The foundation of all the above is "PRICE ACTION" and WAITING till im really happy with the set up. I stay out on any NFP or rate change day.Sometimes i miss them or go break even to soon or take profit to soon or get stopped out for the spread and she goes to greater profit on that portion of the order thats just apart of the biz im afraid but all my choices are based on price action.I like to be able to look back on all my trades and see all the reasons in price action why i did what i did thats my anchor in these wild seas and why my client has great faith in me.Consistant in, consistant management,consistant out as my mentor said "fx is a marathon not a sprint".% returns i hear some of you say well if i can get approx 75% of any movement based on daily price action im happy the % return takes care of itself.Thats all i guess feel free to post me anything as i attempt to give a little back to this forum which has given me so much over the years.