This is just to share a trading experiment I'm looking at.
I won't be following the normal "rules" of MM (S/Ls, BE, trailing stops, win/lose ratios etc etc). In some ways I'll just be winging it and seeing if its possible to be successful purely from experience and probability, only using PA and volume.
I've tried all the "advised" rules over the years and failed, ending up with a simple scalping technique which, so far, has proved to be successful.
I started another thread on this https://www.forexfactory.com/showthread.php?t=698542
As its purely an experiment, I don't want to risk a lot of money but I believe for a number of reasons, that real results only come from live accounts so I've stuck 300 bucks into a sub account and the TE is attached
It's very simple and will involve Daily support and resistance with entries based on H1;
I won't be using any stop losses, and I imagine that there may be substantial drawdown on some trades. If the S or R gets broken I'll just look for an opportunity to ditch the trade and it may possibly provide an opportunity in the opposite direction.I will be maintaining my own MM model to compensate for this.
I'll use a bare chart with the only indicator being a cumulative volume based one called Weis Wave.
Here is the current AUD/USD daily chart. 
You can see I inserted a line marking the daily resistance. The line is placed at the point where price dropped away without being revisited.
You can see large buying volume approaching the line indicating unloading of long trades.
If we switch to H1 we see the same thing accompanied by bearish price action. 
The entry point would be at a point back near the line on a re test pending or market.
My TP will be where the Weis volume indicates on the daily chart.
I will re enter in the same direction on H1 until the daily shows reversal
My MM will be no more exposure than 1 micro lot for every $50 or as many as will allow me to remain above 1000% margin.
In this case I will need to ditch as many trades as is required to keep it there.
It may very well be the case that the account gets blown by a big move such as the chf event or other but I'm just going to see how valid it turns out to be trading in the very simplest way.
Feel free to contribute any thoughts or experiences like this.
I'm in no way trying to promote this method of trading, just sticking it out there and seeing if we can make it work.
For my serious trading I prefer to stick to my scalping.
I won't be following the normal "rules" of MM (S/Ls, BE, trailing stops, win/lose ratios etc etc). In some ways I'll just be winging it and seeing if its possible to be successful purely from experience and probability, only using PA and volume.
I've tried all the "advised" rules over the years and failed, ending up with a simple scalping technique which, so far, has proved to be successful.
I started another thread on this https://www.forexfactory.com/showthread.php?t=698542
As its purely an experiment, I don't want to risk a lot of money but I believe for a number of reasons, that real results only come from live accounts so I've stuck 300 bucks into a sub account and the TE is attached
It's very simple and will involve Daily support and resistance with entries based on H1;
I won't be using any stop losses, and I imagine that there may be substantial drawdown on some trades. If the S or R gets broken I'll just look for an opportunity to ditch the trade and it may possibly provide an opportunity in the opposite direction.I will be maintaining my own MM model to compensate for this.
I'll use a bare chart with the only indicator being a cumulative volume based one called Weis Wave.
Here is the current AUD/USD daily chart.
You can see I inserted a line marking the daily resistance. The line is placed at the point where price dropped away without being revisited.
You can see large buying volume approaching the line indicating unloading of long trades.
If we switch to H1 we see the same thing accompanied by bearish price action.
The entry point would be at a point back near the line on a re test pending or market.
My TP will be where the Weis volume indicates on the daily chart.
I will re enter in the same direction on H1 until the daily shows reversal
My MM will be no more exposure than 1 micro lot for every $50 or as many as will allow me to remain above 1000% margin.
In this case I will need to ditch as many trades as is required to keep it there.
It may very well be the case that the account gets blown by a big move such as the chf event or other but I'm just going to see how valid it turns out to be trading in the very simplest way.
Feel free to contribute any thoughts or experiences like this.
I'm in no way trying to promote this method of trading, just sticking it out there and seeing if we can make it work.
For my serious trading I prefer to stick to my scalping.
Where price is now, it has been before, and will be again.
