Simple and profitable trading style

Summary: After adding SMA it becomes: Weekly middle band/SMA and daily upper band ( For uptrend); weekly middle band/SMA and daily lower band ( For down trend ). Daily middle band/SMA and 4hr upper band ( For uptrend ); Daily middle band/SMA and 4hr lower band ( For down trend ).
When account is small we need the lower tf for entry, daily and 4hr.

I said instead of having multiple threads, I decided to add other sub-strategies here, though I have Stochastic-based strategy.

They are as follows: For long Positions
1.Bullish Engulfing above strong and visible support or supported by Bollinger Lower band breakout. 2. Strong Pin Bar above strong support or supported by lower band breakout. 3. Strong hammer above support or with bollinger lower band breakout ( specially with bullish body ). 4. Strong Pin Bar on support or with lower band breakout.
For short positions:
1. Bearish Engulfing below strong and visible resistance or supported by strong upper band breakout. 2. Strong Gravestone Doji. 3. Strong Shooting Star below resistance or supported by bollinger upper band breakout.

These days I focus more on daily and hr, because of smaller stop loss. I WILL NEVER TRY WEEKLY IN MY LIVE ACCOUNT

The next focus now is the Fibonacci- How to use Fibonacci to join the trend or reversal in combination with all the strategies here. I will be sharing the charts until we get what I mean. Trade safe and stay out of OVERTRADING- IT KILLS ACCOUNTS

AUDCHF long Pending Order had been triggered- it was based on Fibonacci. I hope to include the chart on the on the list I have been backtesting and that I promised to share.

USDCAD had broken out of sideways. I received great bullet on my short. I decided to join the bulls. Resistance/Fibo 61.8% breakout

Soon it would reverse as the pair would not trend forever. One of the things I have wanted to share on Fibo is that price most times reverse from between Fibo 60.8 %and 100%

Strong Pin Bar and Hammer ( Weekly chart ) formed long ago on GBPJPY is gradually taking shape. I entered long yesterday when the bullish candle closed on Bollinger Upper Band

It also fulfilled the weekly middle band and daily upper bandour main strategy here.

I will be "ditching" out the Fibonacci related information on the chart, bit by bit.

EURJPY long- weekly middle band and daily upper band being formed

CADCHF long. 4hr has been, for so long, been rejecting upper band. It's great opportunity for me now as the bulls are already above the daily SMA and middle band. I have used pending order few days ago and failed to triggered and so had to delete it.

CADCHF is the pair being used for Fibonacci backtest, so that I have current price movement/setup when I share the chart. The confidence is the fact that though it was based on daily middle band and 4hr upper band, it was already trading from Fibonacci level, between Fibo 61.8% and 100%, where I said earlier that most often retracement takes.

Hammer is being formed- closing above Bollinger Upper Band on GBPCHF. The great thing is the fact that it's closing above the Upper Band with Bullish body

EURCHF formed same setup as GBPCHF. Since the Swiss Franc Tsunamis many, including me had been scared of the pair. I hope to jump in now and test the strategy, not on live account anyway.

Hello friends, I have this one here on EURUSD: https://www.forexfactory.com/showthr...0#post11263320

I just received this from Tradeview:

Dear Trader,

The European Securities Markets Authority (ESMA) recently decided to drastically reduce the leverage that brokers are allowed to offer their clients Read the Finance Magnates article here
In short, here are the following changes that may affect your trading account with a European broker:

 

1. Forex and CFD leverage will be limited to 30:1, for major currency pairs. Lower leverage will be enforced on non-major currency pairs, gold, indices, and other commodities and cryptocurrencies

1. Margin close out rule on a per account basis
2. WIll require you to be a professional client, 90% of the traders don't have the requirements for this.

Tradeview won't be affected by these regulations as we are an American company regulated by CIMA (Cayman Islands Monetary authority). TView has a 16-year track record in the industry and we stablished ourselves as one of the fastest growing brokerage houses around the globe. We will continue to offer up to 1:400 leverage on FX and CFDs for all our clients.

To find out more about us or to view our tight spreads please do not hesitate to reach out to me.

I look forward to hearing from you.

Kind regards,

Fibonacci.

For those interested in Fibonacci trading we can start here so that when I upload it would not just be strange to us and would make the explanation easier.

Now that you know about the basic Japanese candlestick patterns, why not take it to the next level and learn about the Fibonacci retracement tool?

1. Fibonacci TradingNo, Fibonacci is not some type of pasta. Learn all about the man behind the concept and what it actually means.
2. How to Use Fibonacci Retracement to Enter a TradeThe first thing you should know about the Fibonacci retracement tool is that it works best when the market is trending.
3. Fibonacci Retracements are NOT FoolproofWhat happens when Fibonacci fails? Could it be because of your swing highs and lows, or are markets just not responding to it?
4. How to Use Fibonacci Retracement with Support and ResistanceIn this lesson, we’ll show you how to combine the Fibonacci tool with support and resistance levels.
5. How to Use Fibonacci Retracement with Trend LinesWhat’s another way to tilt Fibonacci levels in your favor? Combining it with trend lines, of course!
6. How to Use Fibonacci Retracement with Japanese CandlesticksCheck out how combining candlestick patterns with Fibonacci levels can improve your trading odds.
7. How to Use Fibonacci Extensions to Know When to Take ProfitFibonacci levels aren’t only used to spot entry areas – they’re also good places to take profit!
8. How to Use Fibonacci to Place Your Stop so You Lose Less MoneyIf you can take profit at Fib levels, then you can definitely place stop losses there too!

New ESMA Leverage Limits
View this email in your browser
https://ci5.googleusercontent.com/pr...ca058b3efb.png
Dear Trader,

The European Securities and Markets Authority (ESMA) new leverage limits for Retail clients will come into effect on 1st August 2018. The new limits apply to every broker regulated in the European Union and have a direct impact on the amount of money you need to place a trade. FXOpen UK is going to implement these changes on Saturday 28th July. The new leverage limits will apply to open positions as well as new positions, so please ensure you have sufficient funds on your account to meet the new margin requirements on open positions before Saturday 28th July. If you do not have sufficient funds to cover the new margin requirements, you will be automatically closed out when the market opens.

What are the Changes?

The full ESMA document can be read here but below is a summary of the main changes to your account.

Maximum Leverage:
https://ci4.googleusercontent.com/pr...1e49211a1a.png
Negative Balance Protection: Your account as a whole will no longer be able to lose more than the funds on deposit.

50% Margin Stop Out: This is currently already in place for ECN accounts but it will now also apply to STP and Crypto Accounts which are currently 30% and 15% respectively.
Who is affected by the changes?

The new leverage limits and negative balance protection rules only apply to Retail clients. Professional clients are not affected by the new changes.

Currently you are classified as a retail client, however if you meet 2 of the following 3 criteria you may be eligible to opt up to become a Professional client.

1. You have traded an average of 10 times in each of the last four quarters on CFDs, spread bets or forex in significant size (with FXOpen UK and other providers)
2. You hold an investment portfolio (including cash savings and financial instruments) exceeding €500,000 (with FXOpen UK and other providers)
3. You have worked for at least one year in the financial sector, in a position that has given you knowledge of Forex, CFD, or spread betting trading

If you meet the requirements and want to enquire about opting up to a professional client status, you can reply to this email or contact [email protected].

If you have any questions regarding these changes, please do not hesitate to contact us.

Kind regards,
The FXOpen UK Team

[email protected] +44 (0) 203 519 1224 Live Chat
80 Coleman Street, London, EC2R 5BJ, UK
FXOpen UK is a trading name of FXOpen Ltd. FXOpen Ltd is registered in England and Wales under company number 07273392 and is authorised and regulated by the Financial Conduct Authority under FCA firm reference number 579202.

Trading on Forex market involves substantial risks including total loss of your trading capital and may not be suitable for all investors. Investors should make an independent judgment as to whether trading is appropriate for them in light of their financial condition, investment experience, risk tolerance and other factors. General information and market analysis on this site is not to be considered a solicitation to trade or construed as investment advice and products available may not be suitable for your personal financial position.
Before performing any transaction with FXOpen UK, please read the 'Terms and Conditions' and 'Disclaimers and Risk Warning' which may be downloaded from this site or obtained in hard copy by contacting our office.

Watch out!!! your open positions will be closed till you meet new leverage restrictions. Your account can end up really weak. I have alreadey experienced it on a demo where these regulations started this last monday. I closed my real account just in case.