Hello traders of Forexfacotry,
I'd like to use this forum to record all possible and reasonable entries of the High-probability Intraday Trading System.
I've been learning and practicing this system and many others for about five years, and in my opinion, it is currently the most suitable one for full-time independent traders like me. About one year ago I have published a brief to this system (http://www.forexfactory.com/showthread.php?t=553086), but I hadn't kept updating it as I felt meaningless to copy and paste outdated analyses from my Tradingview to here, and those analyses were not very helpful for traders. Now I have established my website (www.spes-fin.co.uk) to share all those ideas in details with a clear structure (I haven't finished editing them, I'll update them part by part), and they are completely free. In my opinion, selling trading materials is an irresponsible behaviour as articles are not enough for newbies to become successful traders. Traders have to practice a lot with themselves to achieve profitability. Moreover, I've opened my own PAMM account and I believe that, as a trader, it is more persuasive to make money by trading, rather than selling educational articles. You can monitor it by trade explorers here or find out more information on the website.
I suppose everybody wishes to know if this system really works before studying it, and I have done some work on it. It is not only done for advertising but more important, for improvement of my confidence. I picked up all trades I did by using this system since Sep 2015, and it is 115 out of 283 trades (I also traded with other systems before), and the result sacred me. I am sure that the result could be better if I only did 115 trades instead of 283.
I deleted data of lot size and profit/loss, and gave each trade 2% risk of total balance. With the real reward:risk ratio I did with 115 trades (calculated by profit/loss pips divided initial stop loss), I achieved a growth chart like this. You can check the detailed trading history here.
It is quite impressive, isn't it? The trades I did could achieve 157% growth with only 2% risk in 9 months. I'm a risk averter, and I never believe that trading with unreasonable risk to double my account in a week or a month is the right way. 2% risk per trade ($200 stop loss for $10,000 balance) is acceptable, and I'm very satisfied with this result. However, during the process of the check, I was unsatisfied with the trade management. Though my entries were within the discipline, but my closings weren't. Sometimes I left too early for fear, sometimes I left too late. Sometimes the result of running out of the discipline is better but most times it is worse. So I checked all trades again and gave each trade an ideal closing price with certain closing rules, and the result scared me again.
As can be seen, I believe that this system has much more potentials. It is impossible for me to achieve the ideal result, but it should be much better than it was. So I do hope keeping this trading note could help me stay with the discipline and improve my trade management.
Contents, rules and wishes of this forum:
1. I will try my best to update all reasonable entries of this system, no matter it is a trade with profit or loss, no matter I enter this trade or not.
2. I will use charts from high time-frame to low time-frame to explain a trade if I have time, or I may only upload day/M15 charts if I don't.
3. For pairs of a single currency with a similar pattern, I will choose the one with the most typical features. (For example, if there are similar entries on EURJPY, GBPJPY, USDJPY, CHFJPY, etc., I will only choose one to update.)
4. If you can't understand the pictures here, try to read my previous post or articles on my website first.
5. Everybody feels free to ask any questions about this system here, I will try to answer them all. If you have any suggestions, do not hesitate to share.
6. It is most welcome if you can ask a detailed question with charts.
I'd like to use this forum to record all possible and reasonable entries of the High-probability Intraday Trading System.
I've been learning and practicing this system and many others for about five years, and in my opinion, it is currently the most suitable one for full-time independent traders like me. About one year ago I have published a brief to this system (http://www.forexfactory.com/showthread.php?t=553086), but I hadn't kept updating it as I felt meaningless to copy and paste outdated analyses from my Tradingview to here, and those analyses were not very helpful for traders. Now I have established my website (www.spes-fin.co.uk) to share all those ideas in details with a clear structure (I haven't finished editing them, I'll update them part by part), and they are completely free. In my opinion, selling trading materials is an irresponsible behaviour as articles are not enough for newbies to become successful traders. Traders have to practice a lot with themselves to achieve profitability. Moreover, I've opened my own PAMM account and I believe that, as a trader, it is more persuasive to make money by trading, rather than selling educational articles. You can monitor it by trade explorers here or find out more information on the website.
I suppose everybody wishes to know if this system really works before studying it, and I have done some work on it. It is not only done for advertising but more important, for improvement of my confidence. I picked up all trades I did by using this system since Sep 2015, and it is 115 out of 283 trades (I also traded with other systems before), and the result sacred me. I am sure that the result could be better if I only did 115 trades instead of 283.
I deleted data of lot size and profit/loss, and gave each trade 2% risk of total balance. With the real reward:risk ratio I did with 115 trades (calculated by profit/loss pips divided initial stop loss), I achieved a growth chart like this. You can check the detailed trading history here.
It is quite impressive, isn't it? The trades I did could achieve 157% growth with only 2% risk in 9 months. I'm a risk averter, and I never believe that trading with unreasonable risk to double my account in a week or a month is the right way. 2% risk per trade ($200 stop loss for $10,000 balance) is acceptable, and I'm very satisfied with this result. However, during the process of the check, I was unsatisfied with the trade management. Though my entries were within the discipline, but my closings weren't. Sometimes I left too early for fear, sometimes I left too late. Sometimes the result of running out of the discipline is better but most times it is worse. So I checked all trades again and gave each trade an ideal closing price with certain closing rules, and the result scared me again.
As can be seen, I believe that this system has much more potentials. It is impossible for me to achieve the ideal result, but it should be much better than it was. So I do hope keeping this trading note could help me stay with the discipline and improve my trade management.
Contents, rules and wishes of this forum:
1. I will try my best to update all reasonable entries of this system, no matter it is a trade with profit or loss, no matter I enter this trade or not.
2. I will use charts from high time-frame to low time-frame to explain a trade if I have time, or I may only upload day/M15 charts if I don't.
3. For pairs of a single currency with a similar pattern, I will choose the one with the most typical features. (For example, if there are similar entries on EURJPY, GBPJPY, USDJPY, CHFJPY, etc., I will only choose one to update.)
4. If you can't understand the pictures here, try to read my previous post or articles on my website first.
5. Everybody feels free to ask any questions about this system here, I will try to answer them all. If you have any suggestions, do not hesitate to share.
6. It is most welcome if you can ask a detailed question with charts.