High Level Accuracy Method With Little To NO Draw-down

Advice on timeframe entries

So, I have a set up on the 30 min chart below:



I have placed where the initial 30 min pending line would be...

then dropped down to the 5 min



The entry moves slightly which is where I have placed my 'actual' entries.

So, in this example, I have lowered my drawdown (no fixed percentage stuff, which I have never really subscribed too...), but a couple of questions arise.

1) Do we need to amend the TP here? Do we follow the 5 min, or the 30 min charts? I have kept them at the 30 min, as fundamentally the set up I have 'entered on' is the 30 min, and to my mind the 5 min entry has happened...

2) Do we want to amend the SL here? I suppose technically we are still going from the 30 min, but in terms of the 'giving the trade room to breathe', bearing in mind we have a little bit of confluence between the two, are we better to use the 5 min SL? I am happy with the 30 min stop loss.

Just as an aside... I have 3 obvious (to me) TP levels, my trade management is such that once it hits TP, 2 go to break even, one is closed, and we are free wheeling it here. second TP gets hit, we have one position left with a guaranteed profit at the TP1 level...

@wealthpro Hi,

Thanks for your submission... btw, its FXCyborg, not Cyborg.

One may ask what's the difference, it still close, right? No, its about having eye for deal and paying attention. It's about being lazy, then don't please, all these little things where ppl try to cut corners in learning, or in life, will have an adverse affect overall. Let's pay more close attention. One will find that the learning process will be so much easier and the information will be absorbed faster.

First, that is a Bearish Dark Cloud Cover, not a Bearish Engulfing pattern. I don't recall saying to find Dark Cloud Cover setups in our 3 bar formation?

Secondly, reconfigure your icons at the top so your menu is all on the same level.
3rd, never zoom in like that,it hinders your ability to see what is really going on with previous candle structure.
4th, remove the buy/sell order box crutch, not needed, just use the NEW Order button.
5th, Close down your market watch window, there is no reason to keep it open, again, you are removing the essential visibility of the chart
6th, close down the terminal window, its not needed to have open if you have no trades open and if do have trades open, resize it so there is no extra white space.
7th, use better resolution on your computer.

ATB

Hi Fxcborg.

Thank you for this breliant naked trading strategy .

I took this trade on U/C. I know the entry is a bit late.

I just realised, I might have been too quick with my trade, didn't see the doiji between the 1 and 2 bear candle.

@mwasim, Hi Welcome, thanks for your submission.

Kindly note the edited image with my blue labels noted from 1 to 5

1) that is not your SL, that is your breach line... SL goes below that
2) Well done. that's our entry on a revisit - which it does, to the POINT!
3) No, that is not our first immediate/most recent Structure High.
4) Is our structure high for TP
5) Is our SL level - approximately.

I trust this helps?

ATB

Hello FXCyborg. Here is a live chart
XAU/USD 15m.

Am i onto something?

Edit.... (See picture 2) would have stopped me out with minimal loss. Either I've done something wrong or its a case of you lose some, it happens. Quite possibly Gold is a beast and nothing can tame it

@9jatrader

hehehe, yay! Top 1% Not bad in 3 days?

Is there another Top 1%'ters forum we can view? Or is there a top 0.01%'ters flag we can see?

ATB

Juan hit me up in a private message I might have something you can use

Just took this set up on the Hourly TF CADJPY.
Any feedback appreciated.

Just my view using H1 initially and M5 to drill down...

i had this level too but i discarded it was kinda tested to me now.

good info..thanx for sharing

Trying some.
hope it’s valid

@garados Hi,

Thanks for your question, and a good one too

Because that's the "Build Up Phase" so to speak... we wait for the market to pull away from there then revisit. When you go back to the other examples you will see this clearly now

ATB

@Tomasz84 Hi

Thanks for your submission

Kindly show the setup correctly then we will go from there... mimic exactly what I do in my images, and don't deviate from them. As to all of you who is keeping up with this thread - draw / snapshot your setups properly... some are still overlooking the exact way I draw mine out.

Thanks

BTW, it's FXCyborg, not Cyborg (Attention to detail is paramount - in life and more so in Trading.)

ATB

I have taken 2 trades on E/U 5M.

First trade long hit tp, and reversed it with a short setup.

Lets see how it'll pans out.