Hello and welcome to my thread. I am sharing my trading style that has been profitable for me for many years. It's simple, two lines where defines levels at Peaks and Valleys on H4 TF. The name of the thread says it all... I get in and out at these levels and here we go.
Sharing and trading alongside you all wonderful traders is the goal and pleasure of this thread.
Without further ado in all Plain chart:
* Level: Valleys and Peaks. (Draw the LV lines only from H4 TF)
* TF: H4.
* Stops: 30pips hard one. (30-40 pips trail for one-time to Breakeven)
* Orders: Limit only.
* Target: Opposite level, works for 3R+ most times.
I have learned sticking to a trading plan with discipline outweighs any of my market wisdom by interference, predictions, gut feel and etc... and that is the main challenge you will face with this system or any other system to be honest. There will be times when price runs through your limit order for a quick cold stop hit, Ouch!! but you atta be okey with that. There will be times you exit a trade for profit and get in on opposite way, but the run continues without you in it after stinging you for 30 on top, painful Ouch... but you gotta be okey with that too. You tolerate all that without stirring away from main pathway because you got your eyes on the big picture the weekly, monthly goal and not whale hunting... you know in the long run you will come out ahead. All that because you know market sideways and chops more than it trends. Don't Stire away, stay on path, Stick to The Plan... it's your only edge in the market. We as retail traders is served with pleasure of secondhand info... won't know until it's done!! whereas it will go up down or in circles.
I am sure there will be more details to be explained along the way which I will address on some live trades. I will post up my trades with chart displays as much as I could in timely manner. I am way out in the southern California with brutal time difference with most of the world.
What to expect is couple to a few trades per week and to average about 100 positive pips per week even if you net loss couple weeks in row, other weeks will make up for it.
Risk Management is the key here, 1%-2% at 30 pips hard stop.
I keep the same trade size for the whole week and set a new one for the upcoming weeks based on my available equity.
On the chart below its clear to see the levels and the small square boxes are entries.
Explanation about levels. Peaks and Valleys are simple to spot and most effective. Aggressive mid-range or mediocre levels may be less effective, visible on my chart, but massive profits do arise from these levels as well. I personally take them all but may not exit on all those because I like to make 3Rs minimum on each trade since they tend to be more jammed.
Also, another super important note on levels: effectiveness of any levels to me is no more than two weeks, period. I don't care how strong it was, after two weeks with No Reaction at it, is dead to me.
When to draw the LV line please draw it for two weeks' time... if there is a visit and a bounce you extend it for another 2 weeks from that point on.
I look for recent action on these levels.
Bottomline, there is no secret here, it's a simple straight forward one by trading the Levels anyone can see and spot, together with some discipline rules built around it. Your do diligent to the rules, plan and risk management will dictate your profitability, which is true for any system or style of trading in that sense.
Good news is this does not occupy much of your time, only a few hours a week is all necessary. I personally check the chart every 4hrs except the one time mid my sleep time, which is the important one on London session, Ouch lol... but it is what it is, I either wake up to a pleasant surprise or an unpleasant one... either way, the risk is well within means and it all averages out in the end.
Remember you trade to live and not live to trade.
All I ask is courtesy, etiquette, overall respect for a peaceful place to share and trade.
Best of luck.
ps) The nitty-gritty posts to read;
Posts: # 1 (must)... 4-7-20-39-40-43-62-66-68-74-84-96-102-232-244 (must)-276
Sharing and trading alongside you all wonderful traders is the goal and pleasure of this thread.
Without further ado in all Plain chart:
* Level: Valleys and Peaks. (Draw the LV lines only from H4 TF)
* TF: H4.
* Stops: 30pips hard one. (30-40 pips trail for one-time to Breakeven)
* Orders: Limit only.
* Target: Opposite level, works for 3R+ most times.
I have learned sticking to a trading plan with discipline outweighs any of my market wisdom by interference, predictions, gut feel and etc... and that is the main challenge you will face with this system or any other system to be honest. There will be times when price runs through your limit order for a quick cold stop hit, Ouch!! but you atta be okey with that. There will be times you exit a trade for profit and get in on opposite way, but the run continues without you in it after stinging you for 30 on top, painful Ouch... but you gotta be okey with that too. You tolerate all that without stirring away from main pathway because you got your eyes on the big picture the weekly, monthly goal and not whale hunting... you know in the long run you will come out ahead. All that because you know market sideways and chops more than it trends. Don't Stire away, stay on path, Stick to The Plan... it's your only edge in the market. We as retail traders is served with pleasure of secondhand info... won't know until it's done!! whereas it will go up down or in circles.
I am sure there will be more details to be explained along the way which I will address on some live trades. I will post up my trades with chart displays as much as I could in timely manner. I am way out in the southern California with brutal time difference with most of the world.
What to expect is couple to a few trades per week and to average about 100 positive pips per week even if you net loss couple weeks in row, other weeks will make up for it.
Risk Management is the key here, 1%-2% at 30 pips hard stop.
I keep the same trade size for the whole week and set a new one for the upcoming weeks based on my available equity.
On the chart below its clear to see the levels and the small square boxes are entries.
Explanation about levels. Peaks and Valleys are simple to spot and most effective. Aggressive mid-range or mediocre levels may be less effective, visible on my chart, but massive profits do arise from these levels as well. I personally take them all but may not exit on all those because I like to make 3Rs minimum on each trade since they tend to be more jammed.
Also, another super important note on levels: effectiveness of any levels to me is no more than two weeks, period. I don't care how strong it was, after two weeks with No Reaction at it, is dead to me.
When to draw the LV line please draw it for two weeks' time... if there is a visit and a bounce you extend it for another 2 weeks from that point on.
I look for recent action on these levels.
Bottomline, there is no secret here, it's a simple straight forward one by trading the Levels anyone can see and spot, together with some discipline rules built around it. Your do diligent to the rules, plan and risk management will dictate your profitability, which is true for any system or style of trading in that sense.
Good news is this does not occupy much of your time, only a few hours a week is all necessary. I personally check the chart every 4hrs except the one time mid my sleep time, which is the important one on London session, Ouch lol... but it is what it is, I either wake up to a pleasant surprise or an unpleasant one... either way, the risk is well within means and it all averages out in the end.
Remember you trade to live and not live to trade.
All I ask is courtesy, etiquette, overall respect for a peaceful place to share and trade.
Best of luck.
ps) The nitty-gritty posts to read;
Posts: # 1 (must)... 4-7-20-39-40-43-62-66-68-74-84-96-102-232-244 (must)-276
Stay the Course