Hello all.
I trade on D1 mostly, since I have neither a patience nor a desire to spend my time in front of charts.
I use quite simple entries:
PB - Reversal Bar (widely known here as Pin Bar)
IN4 - Inside & Narrowest of 4
NB - Neutral Bar or Doji.
These triggers must occur at setups located in specific zones - SR (Support/Resiatnce) levels defined by
horizontal lines (PZ- Price Zones and RN - Round Numbers),
diagonal lines (TL - Trendlines and AP - Andews' Pitchforks),
and most preferably specific moving averages (EMA/SMA) as Floating SR.
Nothing new. I think the secret here is to be consistent.
I trade EURUSD, GBPJPY, USDCAD, EURCAD, EURAUD, XAUUSD (but now I don't since US broker laverage is 1:1 and I need bigger for Gold, so maybe I will have to open another account, I'm thinking of Alpari?).
My journal will not be updated exactly when I enter the trades, I'm sorry I just don't have the time or discipline. I know anyone can say "I went long here, short here", but I don't care. This journal is mostly for me. I will be happy if it will be helpful to newbies and other traders.
I will not go into details about my strategies. Sorry, I've done in in the past on other forums and it's always mostly negative feedback. I don't know, are people jealous or something? I mean no matter what system one would suggest there will always be people who highly doubt and already know that it will not work in future.
I am a doubter myself, and it was very difficult for me to "convince" myself to actually trust and trade the setups. What I have done I went back in a history of charts to 1970's, 80's, 90's, and from 2000 until now. I found it working in the past as it does now. I remember testing EURUSD I think 2006 or 07 - was unprofitable, backtest actually ended at gain=0, but at the same time other markets were in positive gains using the same strategy.
I used Fixed Fractional % Risk, but I stopped, and use now fixed $ amount risk per trade. Yes, after a loss I trade bigger, but it is very marginal increase. I found it works better and DDs are recovered faster.
My setups are graded A,B,C,D - this is another way I control risk.
Also, not all pairs I trade with the same $ risk. EURUSD, GBPJPY are the biggest trades, Gold, USDJPY and USDCHF are the smallest trades.
RR is usually 1:2.
I USE 3 METHODS DESCRIBED IN POSTS BELOW
Strategy 1: Post 20
Strategy 2: Post 21
Strategy 3: Post 22
More about myself in the next post.
I trade on D1 mostly, since I have neither a patience nor a desire to spend my time in front of charts.
I use quite simple entries:
PB - Reversal Bar (widely known here as Pin Bar)
IN4 - Inside & Narrowest of 4
NB - Neutral Bar or Doji.
These triggers must occur at setups located in specific zones - SR (Support/Resiatnce) levels defined by
horizontal lines (PZ- Price Zones and RN - Round Numbers),
diagonal lines (TL - Trendlines and AP - Andews' Pitchforks),
and most preferably specific moving averages (EMA/SMA) as Floating SR.
Nothing new. I think the secret here is to be consistent.
I trade EURUSD, GBPJPY, USDCAD, EURCAD, EURAUD, XAUUSD (but now I don't since US broker laverage is 1:1 and I need bigger for Gold, so maybe I will have to open another account, I'm thinking of Alpari?).
My journal will not be updated exactly when I enter the trades, I'm sorry I just don't have the time or discipline. I know anyone can say "I went long here, short here", but I don't care. This journal is mostly for me. I will be happy if it will be helpful to newbies and other traders.
I will not go into details about my strategies. Sorry, I've done in in the past on other forums and it's always mostly negative feedback. I don't know, are people jealous or something? I mean no matter what system one would suggest there will always be people who highly doubt and already know that it will not work in future.
I am a doubter myself, and it was very difficult for me to "convince" myself to actually trust and trade the setups. What I have done I went back in a history of charts to 1970's, 80's, 90's, and from 2000 until now. I found it working in the past as it does now. I remember testing EURUSD I think 2006 or 07 - was unprofitable, backtest actually ended at gain=0, but at the same time other markets were in positive gains using the same strategy.
I used Fixed Fractional % Risk, but I stopped, and use now fixed $ amount risk per trade. Yes, after a loss I trade bigger, but it is very marginal increase. I found it works better and DDs are recovered faster.
My setups are graded A,B,C,D - this is another way I control risk.
Also, not all pairs I trade with the same $ risk. EURUSD, GBPJPY are the biggest trades, Gold, USDJPY and USDCHF are the smallest trades.
RR is usually 1:2.
I USE 3 METHODS DESCRIBED IN POSTS BELOW
Strategy 1: Post 20
Strategy 2: Post 21
Strategy 3: Post 22
More about myself in the next post.
Paul W