Disliked{quote} I extracted only the above from your post. Are you serious???? Clearly, you have not even done trading 101 yet! You want to be a Master Chef but haven't even done your time learning basic cutting techniques, let alone actually cooking something! Why in the world would anyone explain to you the basics? There are thousands of resources for you to TAKE THE INITIATIVE and learn them as a PREREQUISITE. If you actually read the entire thread, then you already saw links given to some good learning resources. Anyway, the title is Trading Made Simple,...Ignored
It’s really easy to come up with such comment. All I said is that a strategy like the OP provided here is leaving out important lessons so especially „new“ traders like me are able to built a „working“ framework on.
I never said that’s there is anything wrong with that what the OP introduced but people here tend not to be able to read through the lines all the time.
You asked me for more details on my trading plan in order to help and I just gave it to you.
So if you can’t help with that just admit it and say I can’t help you and everything is fine.
I don’t expect to get spoon feeded. But if you ask 100 „traders“ here for a simple question you get like 300 different answers to that.
If there is no statistical evidence that any indicator, price action, chart pattern, trendline or what ever else hokus pokus is able to outperform the market or giving you that „edge“ I guess the only correct answer why 5% still win is because of experience and proper risk and money management.
Probably you could even end up profitable after 10 years trading with just taking random trade entries without even looking at a chart if you „manage“ those trades correctly, cut losers fast and let winners run a big longer.
Anyways this won’t help me one bit for the moment.
So again what instrument to trade on the lower time frames and what strategy where I could at least in theory achieve my goals which has been described in detail already.
Trading this strategy on a lower timeframe with a 5 pips stop loss is quiet unrealistic if you not even get a 50 win chance to reach at least the 10 pips profit target if only half of your entries are correct, right?
More like you get stopped out 8 of 10 times right away and the two winners will reverse just 2 pips before your fixed 10 TP profit target.
Wax On, Wax Off