I started a thread in Journal Forum to share about this strategy as I am still testing. The results are promising so I decided to share here.
Do note I only started it for 1 month and the results not enough to conclude anything. Some have tried and so positive results too. Visit here to rea din details: https://www.forexfactory.com/showthr...7#post11550457
Too many trader focus on reward to risk (RR). However that is their hypothesis if the price action (PA) reach to the level they want. However, often then not the PA do not reach to the level they want and hit SL
I asked myself how to become a consistent profitable trader? So i concluded that the win to loss ratio is more important. Definitely money management is the basis.
All you need for this strategy is your phone. I only trade on all USD, EUR, GBP and JPY pairs
***Background***
I spent abt 10k learning forex last year June from someone once i reckon as “mentor” whereby later i know i can get the same knowledge for free on babypips.
Lost another 10k using what he taught me and strategy hopping on FF. He has decades of Fx trading experience and within the same year he lost 40k out of 50k of my mum’s fund. That shows he is just some incapable trader(scammer).
However, I’m not someone who give up easily. So based of these lesson learnt and my knowledge, i came out with this. No point blaming others and be a cry baby. The money wont be back.
Not completely my strategy but I hope it does work so i can repay my mum’s fund. If you interested feel free to try, if it doesnt suit your style, you can skip the thread. No one will force you to try, so dont type unnessary comment.
**********UPDATES***********
Sep 18: +26%
Oct 18: +15%
Nov 18: -3% [TP at 150]
Dec 18: +11%
Jan 19: +14.7%
Do note I only started it for 1 month and the results not enough to conclude anything. Some have tried and so positive results too. Visit here to rea din details: https://www.forexfactory.com/showthr...7#post11550457
Too many trader focus on reward to risk (RR). However that is their hypothesis if the price action (PA) reach to the level they want. However, often then not the PA do not reach to the level they want and hit SL
I asked myself how to become a consistent profitable trader? So i concluded that the win to loss ratio is more important. Definitely money management is the basis.
All you need for this strategy is your phone. I only trade on all USD, EUR, GBP and JPY pairs
***Background***
I spent abt 10k learning forex last year June from someone once i reckon as “mentor” whereby later i know i can get the same knowledge for free on babypips.
Lost another 10k using what he taught me and strategy hopping on FF. He has decades of Fx trading experience and within the same year he lost 40k out of 50k of my mum’s fund. That shows he is just some incapable trader(scammer).
However, I’m not someone who give up easily. So based of these lesson learnt and my knowledge, i came out with this. No point blaming others and be a cry baby. The money wont be back.
Not completely my strategy but I hope it does work so i can repay my mum’s fund. If you interested feel free to try, if it doesnt suit your style, you can skip the thread. No one will force you to try, so dont type unnessary comment.
**********UPDATES***********
Sep 18: +26%
Oct 18: +15%
Nov 18: -3% [TP at 150]
Dec 18: +11%
Jan 19: +14.7%
, things got interesting right there for me. I would do opposite colours only. Like if I am taking a sell the previous bar that is being engulf would have to be bullish and the ENGULFING bar is bearish. That would be my main rule apart from the obvious ema 30. The Bollinger band could show exhaustion?
