A journal of my trades which are based on Jim Brown's books and videos:
MT4/MT5 & Trading View High Probability Forex Trading Method and
Trading Forex with Divergence on MT4/MT5 & TradingView
https://www.youtube.com/@JAGfx
https://www.jagfx.com/
When I say based I will actually try to emulate Jim's style as close as I can. Jim covers about a dozen Forex pairs in his updates so there is plenty to do without relying on him. I am trading the 28 Major/Minor pairs plus Gold and Silver.
Jim posts videos weekly and has been doing so for literally years. He also posts updates daily on various social media platforms.
He is based in the Far East and the daily candle open is at about 4 am his time. He gets up about 6:30 ish and therefore posts updates a couple of hours later than the candle open. However as it is the Asian session and he is trading daily candles the price is usually close to the open.
The method: At heart this is a 'Let your profits run and cut your losses short method'. However Jim will frequently close half of a position and let the other half run. Stops are generously wide which gives scope for closing early if the trade doesn't work out. This allows for losses smaller than the initial risk.
Although the system is described as a set of mechanical rules there is still a lot of discretion. Rather than rules I like to think of them as a set of tools.
It is indicator based but with support, resistance and trend lines taken into consideration. Divergence is also a big factor in the system.
It is mainly trading with the trend but counter trend trades are also allowed, risk can be adjusted depending on the setup. Both long and short trades could be open concurrently on the same pair.
I don't want to go too deep into the system as I would just be repeating what Jim has already done.
The tools:
Moving averages: 240 Linear Weighted Moving Average (Grey), 100 Exponential Moving Average (Purple), 50 EMA (Orange), 200 EMA (White) added by me. Used for trend direction and dynamic support and resistance. Also helps to determine how far price has moved away from the mean.
Indicators: MACD Platinum (a zero lag MACD can be substituted), QQE Advance V2, and the QMP Indicator (QQEMACDP just a script to combine the two indicators and put a dot on the screen) the script is available from Jim when you buy one of the two books above (including Kindle) but you don't have to as you can just eyeball the two indicators. They are also available for MT4/5.
The QMP dot is key to Jim's system and he won't take a trade without it (but not every trade is taken). Jim doesn't display the QQE ADV V2 (it works in the background) as the chart QMP dot gives him that information but he does display the MACD_P as it has other uses such as divergence.
Divergence: Using the MACD_P as mentioned above.
Support, Resistance and Trend lines: Give weight to trades especially if trading against the trend.
An added tool that I may use is the 68% (1 standard deviation) of the weekly ATR, more about this later.
My charts (Trading View) will look like Jim's but with a few modifications.
I will use Blue vertical dashed lines to signify the entry date. Blue thin solid line will be the entry price and thin blue dotted line will be the Stop Loss. Red for shorts.
Light blue lines, both dashed and solid, will signify support, resistance and trend lines. Sometimes a light blue outlined box will be used.
Thick red dotted lines will signify bearish divergence and thick green dotted for bullish.
I have added a 200 ema (in white) to the moving averages.
I may enter trades before the close just out of convenience, this will be before a QMP dot appears but the QQE should cross by then. The spreads at the open stay high for about an hour which would take it to past 11pm at current UK time.
My Trading View charts show OANDA data feed for FX pairs as that is what Jim uses for his charts, not necessarily to trade. I trade somewhere else. There may be some data differences from different brokers which could cause signals to appear on different candles but it is usually rare.
MT4/MT5 & Trading View High Probability Forex Trading Method and
Trading Forex with Divergence on MT4/MT5 & TradingView
https://www.youtube.com/@JAGfx
https://www.jagfx.com/
When I say based I will actually try to emulate Jim's style as close as I can. Jim covers about a dozen Forex pairs in his updates so there is plenty to do without relying on him. I am trading the 28 Major/Minor pairs plus Gold and Silver.
Jim posts videos weekly and has been doing so for literally years. He also posts updates daily on various social media platforms.
He is based in the Far East and the daily candle open is at about 4 am his time. He gets up about 6:30 ish and therefore posts updates a couple of hours later than the candle open. However as it is the Asian session and he is trading daily candles the price is usually close to the open.
The method: At heart this is a 'Let your profits run and cut your losses short method'. However Jim will frequently close half of a position and let the other half run. Stops are generously wide which gives scope for closing early if the trade doesn't work out. This allows for losses smaller than the initial risk.
Although the system is described as a set of mechanical rules there is still a lot of discretion. Rather than rules I like to think of them as a set of tools.
It is indicator based but with support, resistance and trend lines taken into consideration. Divergence is also a big factor in the system.
It is mainly trading with the trend but counter trend trades are also allowed, risk can be adjusted depending on the setup. Both long and short trades could be open concurrently on the same pair.
I don't want to go too deep into the system as I would just be repeating what Jim has already done.
The tools:
Moving averages: 240 Linear Weighted Moving Average (Grey), 100 Exponential Moving Average (Purple), 50 EMA (Orange), 200 EMA (White) added by me. Used for trend direction and dynamic support and resistance. Also helps to determine how far price has moved away from the mean.
Indicators: MACD Platinum (a zero lag MACD can be substituted), QQE Advance V2, and the QMP Indicator (QQEMACDP just a script to combine the two indicators and put a dot on the screen) the script is available from Jim when you buy one of the two books above (including Kindle) but you don't have to as you can just eyeball the two indicators. They are also available for MT4/5.
The QMP dot is key to Jim's system and he won't take a trade without it (but not every trade is taken). Jim doesn't display the QQE ADV V2 (it works in the background) as the chart QMP dot gives him that information but he does display the MACD_P as it has other uses such as divergence.
Divergence: Using the MACD_P as mentioned above.
Support, Resistance and Trend lines: Give weight to trades especially if trading against the trend.
An added tool that I may use is the 68% (1 standard deviation) of the weekly ATR, more about this later.
My charts (Trading View) will look like Jim's but with a few modifications.
I will use Blue vertical dashed lines to signify the entry date. Blue thin solid line will be the entry price and thin blue dotted line will be the Stop Loss. Red for shorts.
Light blue lines, both dashed and solid, will signify support, resistance and trend lines. Sometimes a light blue outlined box will be used.
Thick red dotted lines will signify bearish divergence and thick green dotted for bullish.
I have added a 200 ema (in white) to the moving averages.
I may enter trades before the close just out of convenience, this will be before a QMP dot appears but the QQE should cross by then. The spreads at the open stay high for about an hour which would take it to past 11pm at current UK time.
My Trading View charts show OANDA data feed for FX pairs as that is what Jim uses for his charts, not necessarily to trade. I trade somewhere else. There may be some data differences from different brokers which could cause signals to appear on different candles but it is usually rare.
