Hello everybody,
I have one idea that works for now, but I'm not relax because is without SL. I always trade with SL i good R:R, but I'm angry when trade hit my SL for only several pips and then go in my direction.
I use classic chart and renko chart. For this idea I use renko 4 pips box. You will see on the picture that there is a TMA+CG (2 Tma with 2.5 and 3.5 settings), ZZ semafor and stochastic. I always draw a trendline, connecting number "3", try to find the price to enter the trade.
The logic is that I made excel table where you enter price and you get calculated TP, and every pending order. There is no SL. Instead of SL there is pending order, and so on. You will see in table. The goal is to get 0,5% per trade (waiting for 1-2 ideal position per day). When you have 5 active trades, you need to change TP for all of them. When price retrace, you will get you 0,5%.
The problem is in drawdown. For now my max DD was 6%, but it can be bigger, and you can loose al your money. What if there was some momentum and price went against me, activate several my pending orders and don't retrace. It is stupid to work all week or month, and then loose all in one trade.
This is only idea and maybe someone have idea how to get it better, how to protect DD, maybe how to find better entery point.
I'm looking the way to control the risk.
Here is picture, indicator and table.
Sorry for my english ;-)
I have one idea that works for now, but I'm not relax because is without SL. I always trade with SL i good R:R, but I'm angry when trade hit my SL for only several pips and then go in my direction.
I use classic chart and renko chart. For this idea I use renko 4 pips box. You will see on the picture that there is a TMA+CG (2 Tma with 2.5 and 3.5 settings), ZZ semafor and stochastic. I always draw a trendline, connecting number "3", try to find the price to enter the trade.
The logic is that I made excel table where you enter price and you get calculated TP, and every pending order. There is no SL. Instead of SL there is pending order, and so on. You will see in table. The goal is to get 0,5% per trade (waiting for 1-2 ideal position per day). When you have 5 active trades, you need to change TP for all of them. When price retrace, you will get you 0,5%.
The problem is in drawdown. For now my max DD was 6%, but it can be bigger, and you can loose al your money. What if there was some momentum and price went against me, activate several my pending orders and don't retrace. It is stupid to work all week or month, and then loose all in one trade.
This is only idea and maybe someone have idea how to get it better, how to protect DD, maybe how to find better entery point.
I'm looking the way to control the risk.
Here is picture, indicator and table.
Sorry for my english ;-)
