INTRODUCTION
Finally, i have decided to honor the request of those who have asked me to start a thread in a bid to share my method of trading...
but firstly i must acknowledge that in my path to learning i have been helped by a lot of generous traders on this forum and i am actually doing this in respect and honor to such great persons, i didn't reinvent any wheel i just figured out some patterned behavior of the market after spending thousands of hours on chart viewing price charts and making this sacrifice is priceless but the discovery is worth it i must confess...
i actually had great dreams when i started trading (and funny enough i still do but just with more realistic expectations than when i started at first).the unrealistic expectations made my approach to the Forex market faulty from the onset...i had a bad psychology as my foundation and it made everything else faulty... such that, every trading system never worked and what worked only lasted for just a little period of time... the whole dream and fuss was to turn a three digit account to six digits account within a month or two .... and that the holy grail was there to make any noble desperate trader wealthy... and so my quest was never ending... but now i know better... that i was the holy grail all along and until i come to term of making myself right to the fundamental principles of the market nothing would ever work...
but today i know better... though not trading the six digit account yet but the daily progress and assurance of another winning day tomorrow has been my greatest joy of all time... and now its all a matter of time and letting the mystery of compound interest fulfill its course...
i am just a young Nigerian dude standing out to make a difference... and my entire goal is that many traders get to use the information from this thread to make their trading better and like i was helped by the information i gleaned from other forums... that they too might get a tip or two from here as well...
and before i get into the main details... there are some traders on ff that i would like to really meet someday loll... probably for a cup of coffee in honor of their impact on my trading knowledge .....they earned my respect!!!... i would slot in their names at appropriate points below on my trading heroes list...
Dkings Legend Swing Trading System
Note that the knowledge of trading is free but its understanding would cost you!... you have to pay a huge fee of attention to get understanding, this path every trader must embrace to become successful...
The fundamental concepts of the trading systems are
1) Price Action... chart patterns and Candle stick pattern (understanding market makers behavior)
2) support and resistance/demand and supply (whole numbers, half numbers and quarters)
3) volume analysis
4) strength gap analysis (using currency strength meter) together with currency slope
5) market structure understanding market cycle (accumulation phase, run up, re accumulation, run-up, distribution, mark- down, redistribution markdown... then repeat)
6) divergence and confluence of momentum and oscillating indicator signals
7) ranges of currency pairs (daily, weekly and monthly price ranges and pivot analysis...)
i would add to the list when there is a need to add... of all i learned this past years this concepts have proven to be pivotal in summing up credible decisions to either place buy or a sell order...
Indicators and template
indicators are great tools depending on the traders using them actually and you should note that traders make indicators indicators don't make traders... there is no one indicator out there that would make you a super trader... but when you become a good trader you can maximize any indicator to its full potential to get incredible results...
The indicators are all in the template i am going to share... ensure your setup looks like mine so that we can be on the same page.., volume indicator are the works of one of my great ff heroes 'traderathome' the starter of PVSRA (price volume support and resistance analysis) thread and other great contributors of that thread.... you can go there and get a good understanding of a bulk of things we would be applying in our analysis here just to safe us the stress of explanation..(though you have a lot of reading to do though
).
another great indicator would be the currency strength meter of one good generous programmer here on ff 'Swingman' such a great indicator i must say! other indicators were gotten from some forums here on ff...
rules of the game are quite simple and very pivotal...
first rule and most important rule is the Money Management ....trust me no swing trader survives without a discreet rule for money management...
and i devised a very safe stress-less and risk free means of trading my account and growing my account patiently ....risking so little that the market cant take me out no matter how far it decides to go against me... and keeping my draw-downs low... i don't subscribe to stop losses... they bleed your accounts to death eventually...
i use 0.01 lot-size for every 500 dollars and i increase my lot-size by 0.01 when its doubled... that means 0.02 for 1000 dollars... too tiny
? not so small if you engage our level entry method of buying and selling...
Timeframe
our major time frame would be 1 hour tf
buy rules
use currency strength to buy the weakest currency.... that have maxed out to 1-0 level
place 3-5 pending buy limits 25(50pips for GBP pairs) pips away from entry points and 50 pips distance for GBP pairs... allow trades to run... minimum target 50 pips... or weekly range high
sell rules
use currency strength to sell the strongest pair... that have maxed out the 8-9 limits
place 3-5 pending sell limits 25(50 pips for GBP pairs) pips away from point of entry....
the rule of conduct in this thread...
mutual respect ...no trolling... no insults... (its one trait i detest about some ff members).. just walk away if you don't like what you re seeing...
and please don't post irrelevant systems here... just go open a thread for that....
just try to stick to what we have here.
healthy constructive criticism is welcome... i love seeing things from other perspectives too but only do so if you surely know better...
please try to ask questions related to what we have here...
and sure everyone is welcome
In Conclusion,
i know one thing for sure, you would become a legend swing trader when you follow this trading system diligently...
.
and also from time to time i would always update this first post with latest informations as they come... and for lazy traders who want to have it all served in one page... some informations would be intentionally littered inside of posts within this thread... don't think anyone would spoon feed you... do your due diligence to search through...
Disclaimer please ... I do not take any responsibility for your profits or loss ... So whatever you do with informations from this thread are solely your responsibility!
Finally, i have decided to honor the request of those who have asked me to start a thread in a bid to share my method of trading...
but firstly i must acknowledge that in my path to learning i have been helped by a lot of generous traders on this forum and i am actually doing this in respect and honor to such great persons, i didn't reinvent any wheel i just figured out some patterned behavior of the market after spending thousands of hours on chart viewing price charts and making this sacrifice is priceless but the discovery is worth it i must confess...
i actually had great dreams when i started trading (and funny enough i still do but just with more realistic expectations than when i started at first).the unrealistic expectations made my approach to the Forex market faulty from the onset...i had a bad psychology as my foundation and it made everything else faulty... such that, every trading system never worked and what worked only lasted for just a little period of time... the whole dream and fuss was to turn a three digit account to six digits account within a month or two .... and that the holy grail was there to make any noble desperate trader wealthy... and so my quest was never ending... but now i know better... that i was the holy grail all along and until i come to term of making myself right to the fundamental principles of the market nothing would ever work...
but today i know better... though not trading the six digit account yet but the daily progress and assurance of another winning day tomorrow has been my greatest joy of all time... and now its all a matter of time and letting the mystery of compound interest fulfill its course...
i am just a young Nigerian dude standing out to make a difference... and my entire goal is that many traders get to use the information from this thread to make their trading better and like i was helped by the information i gleaned from other forums... that they too might get a tip or two from here as well...
and before i get into the main details... there are some traders on ff that i would like to really meet someday loll... probably for a cup of coffee in honor of their impact on my trading knowledge .....they earned my respect!!!... i would slot in their names at appropriate points below on my trading heroes list...
Dkings Legend Swing Trading System
Note that the knowledge of trading is free but its understanding would cost you!... you have to pay a huge fee of attention to get understanding, this path every trader must embrace to become successful...
The fundamental concepts of the trading systems are
1) Price Action... chart patterns and Candle stick pattern (understanding market makers behavior)
2) support and resistance/demand and supply (whole numbers, half numbers and quarters)
3) volume analysis
4) strength gap analysis (using currency strength meter) together with currency slope
5) market structure understanding market cycle (accumulation phase, run up, re accumulation, run-up, distribution, mark- down, redistribution markdown... then repeat)
6) divergence and confluence of momentum and oscillating indicator signals
7) ranges of currency pairs (daily, weekly and monthly price ranges and pivot analysis...)
i would add to the list when there is a need to add... of all i learned this past years this concepts have proven to be pivotal in summing up credible decisions to either place buy or a sell order...
Indicators and template
indicators are great tools depending on the traders using them actually and you should note that traders make indicators indicators don't make traders... there is no one indicator out there that would make you a super trader... but when you become a good trader you can maximize any indicator to its full potential to get incredible results...
The indicators are all in the template i am going to share... ensure your setup looks like mine so that we can be on the same page.., volume indicator are the works of one of my great ff heroes 'traderathome' the starter of PVSRA (price volume support and resistance analysis) thread and other great contributors of that thread.... you can go there and get a good understanding of a bulk of things we would be applying in our analysis here just to safe us the stress of explanation..(though you have a lot of reading to do though
).another great indicator would be the currency strength meter of one good generous programmer here on ff 'Swingman' such a great indicator i must say! other indicators were gotten from some forums here on ff...
rules of the game are quite simple and very pivotal...
first rule and most important rule is the Money Management ....trust me no swing trader survives without a discreet rule for money management...
and i devised a very safe stress-less and risk free means of trading my account and growing my account patiently ....risking so little that the market cant take me out no matter how far it decides to go against me... and keeping my draw-downs low... i don't subscribe to stop losses... they bleed your accounts to death eventually...
i use 0.01 lot-size for every 500 dollars and i increase my lot-size by 0.01 when its doubled... that means 0.02 for 1000 dollars... too tiny
? not so small if you engage our level entry method of buying and selling...Timeframe
our major time frame would be 1 hour tf
buy rules
use currency strength to buy the weakest currency.... that have maxed out to 1-0 level
place 3-5 pending buy limits 25(50pips for GBP pairs) pips away from entry points and 50 pips distance for GBP pairs... allow trades to run... minimum target 50 pips... or weekly range high
sell rules
use currency strength to sell the strongest pair... that have maxed out the 8-9 limits
place 3-5 pending sell limits 25(50 pips for GBP pairs) pips away from point of entry....
the rule of conduct in this thread...
mutual respect ...no trolling... no insults... (its one trait i detest about some ff members).. just walk away if you don't like what you re seeing...
and please don't post irrelevant systems here... just go open a thread for that....
just try to stick to what we have here.
healthy constructive criticism is welcome... i love seeing things from other perspectives too but only do so if you surely know better...
please try to ask questions related to what we have here...
and sure everyone is welcome
In Conclusion,
i know one thing for sure, you would become a legend swing trader when you follow this trading system diligently...
.and also from time to time i would always update this first post with latest informations as they come... and for lazy traders who want to have it all served in one page... some informations would be intentionally littered inside of posts within this thread... don't think anyone would spoon feed you... do your due diligence to search through...
Disclaimer please ... I do not take any responsibility for your profits or loss ... So whatever you do with informations from this thread are solely your responsibility!
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips:
3,675
must be very rare...
... i was actually referring to the correlating pairs ... 'basket trading' as some would like to call it.. buying a currency ...means buying its base and selling it when it is at the counter side of the pair... usd/x and x/usd.... if you are to buy usd... you buy usd/x and sell x/usd...
