Finally, after a few journey years in the forex wilderness, I’ve decided to start my very first “trading systems" thread here at FF.
T.I.T.W.I.T is an acronym for the easily understandable “This Is The Way I Trade”
I’m NOT here to tell any other trader How/What/When/Where/Why to trade. I just hope to set up a space where I can explain how I approach the markets & share my trades. I also hope I can deepen my own trading knowledge in regards my system and possibly help other traders who visit this thread who might find something that they like and can add to their own methods.
May the markets forever be in your favour!
How I setup my Trading View chart:
Pair: EURUSD – 4 decimal chart
Timeframe: 5-minute
Trading View Indicators: 25 EMA / Traditional Daily Pivots / 50 pips Round Number
Vertical Axis has 20 pip spacing / Horizontal Axis spaced to show approx. last 8 hours of price action
STOP: 10 pips
TARGET: 20 pips (Asian Session 10 pips)
ENTRY: At Market Order on a 1 pip Break of the Set Up
The WAY (“This isthe my Way!” )
Obviously, when trading off of a 5 minute chart, all of these questions need to be able to be answered relatively quickly and as clearly as possible.
1. WHO?
T.I.T.W.I.T is an acronym for the easily understandable “This Is The Way I Trade”
I’m NOT here to tell any other trader How/What/When/Where/Why to trade. I just hope to set up a space where I can explain how I approach the markets & share my trades. I also hope I can deepen my own trading knowledge in regards my system and possibly help other traders who visit this thread who might find something that they like and can add to their own methods.
May the markets forever be in your favour!
How I setup my Trading View chart:
Pair: EURUSD – 4 decimal chart
Timeframe: 5-minute
Trading View Indicators: 25 EMA / Traditional Daily Pivots / 50 pips Round Number
Vertical Axis has 20 pip spacing / Horizontal Axis spaced to show approx. last 8 hours of price action
STOP: 10 pips
TARGET: 20 pips (Asian Session 10 pips)
ENTRY: At Market Order on a 1 pip Break of the Set Up
The WAY (“This is
Obviously, when trading off of a 5 minute chart, all of these questions need to be able to be answered relatively quickly and as clearly as possible.
1. WHO?
- Who is dominating the market right now?
- Answer: Price vs Slope of the 25 ema
2. WHAT?
- What is the current price action telling me?
- Answer: Look for the build-up, the false highs and lows and the double pressure
3. WHEN?
- When are "ALL" of the movers & shakers active?
- Answer: Monitor the Opens of the Tokyo, European, UK & NY markets in specific time windows that are tradeable for me.
4. WHERE?
- Where is price currently trading at?
- Answer: Check for the Double Zeros, the 50s, the Pivot Points and the 25 ema
5. WHY?
- Why should I enter the market now?
- Answer: The Set Up
More detail to address each of the answers to these questions will be provided both on the charts and in individual posts.
Empty your mind and let the market guide you