3X power trade

The theory

There are 3 ways I know of you can make money trading (I know there are more, but they do not relate to what I do):

1- Find a trend, wait for a pull back to enter with the trend
2- Find a trend and trade the breakout with the trend
3- Trade against the trend when the market is extremely over bought or over sold.

I personally trade two styles of #1, and one style of #3 (but more on that later).

Things your system must have:

1-You must find a very specific entry pattern/ signal where you have a very tight Stop loss, and there is no guessing on when to enter or when to exit.
2- You want to make sure your reward is higher than your risk.... you R:R is greater than 1

Things you must do

1- become the expert at your system.
2- trade your same setup over and over and over (you must be disciplined to do this).
3- know that your system gives you an edge, and trade the edge. You are the casino.
4- Follow a good money management system.

The charts

I look at three charts on two different platforms.

chart 1
chart1 is used for precise entry and exit. This chart ia an 8 range chart using a mbt fractional feed on Ninja trader. If you don't know what that means, it is a 0.8 pip range chart.

On the chart 1 have a price line, and two delayed price lines (just for look), two tma's(14, and 21) for entry, and a 156 wma

Chart 2
Chart 2 is a 5 min chart on Metatrader (I use a live interbankfx feed). I have the #spudfibo indicator, a pivot indicator, a 50 moving average, a 21 moving average and a 10 moving average.

Chart3
Chart3 is a 15 min chart on Metatrader with a 200,100,50,21,and 10 moving average.

Theory into practice

I take two setups trading a pullback with the trend, and one setup that is a counter trend. I call these setups:

1- 5 min continuation trade
2- momentum continuation trade
3- counter trend reversal trade

The entry

The entry for all trades are based off the 8 range (0.8 pip range) chart from Ninjatrader. And it is based on price breaking the two tma's and then pulling back a little, but not breaking the tma's. Also, the tma's should cross each other. (this will make more sense when you see the charts.

5 min continuation trade

For this trade I watch the 5 min chart and wait for a trend (price above or below the 50 ma, with the 50ma sloping that direction). Then I wait for a pullback to at least the 10 ma, and a price level. Once I have this, I wait for an entry on my 8 range chart. I also use the 15 min to confirm trend and give levels of support/resistance

2- momentum continuation trade

For this trade I wait for a strong move on the 5 min. Then I wait for a small pullback to around the 156 wma on my 8 range chart. Then wait for an entry signal on the 8 range chart.

counter trend reversal trade

For this trade I wait until the market is extremely over sold or over bought. I also like my 5 min chart to be at a s/r level. Then I wait for an entry signal on my 8 range.

The Stop Loss

my Stop Loss is the prev high/low +/- 1 pip. And is usually 2-4 pips. I do not take the trade if the SL is more than 5.

The Profit Exit

Since I want a R:R more than 1 I do not exit unless I am up at least 6 pips. Then I wait for a stall, or a break of my closest tma.

I have attached the mt4 indicators and templates, and the NT template I use. The power.xml is the NT template.

I normally don't trade the London session because I am asleep. But I was awake, so I took this nice 5 min continuation trade.

See how the trend was up, and we had a pullback all the way to the 50 ma. Also the 15 min was at the 21 ma, and it also showed the trend was up.

I was actually up 6 pips at the white dot, but did not exit quick enough. Since news was coming out soon, I exited with only 5 pips. I could have got my 6 pips, but would have had to held through news which I don't do.

I just got a nice momentum continuation trade.

And now that the market was over sold I look for a reversal like this...

I missed this one, I was not paying attention. But I will post the setup so everyone can see what I am looking for.

I forgot to attach the picture...

I guess I should have held a little longer, but it stalled and I was up 7 pips. And I may not put on many trades today because I have a cold or something.

I didn't really like this one, but I got my 6 pips. It stopped at 10 for a while that is why I entered there even though you can't really see it on the chart.

I took two counter trend reversal trades. As you can see the first one lost (about 5 pips after spread and comm), then you can not really see my entry on the second because my mbt feed went down for a min. I had to enter off my 5 min chart at the fib level.

got six pips and out on that one.

I got out of that first one a little early it seems. So I got back in at the next signal, and still ended ++

Not the best trading today, had a couple losses, but that happens. I kept them small, and kept my winners bigger so I am happy.

Two trades, one loss and one nice win... That last one took forever, but finally paid off. My stop loss was one pip above that last high, and my take profit a stall after I am up at least 6 pips. My first trade I lost 5 pips after spread and comm... the second one I made 11 pips after spread and comm... so I am up 5 pips after the two trades.

P.S. Comments are welcome

I took 3 counter trend trades here... I feel like I got a little lucky on the first two. But the last one really took off, and I could have gotten much more out of it. but with the counter trend trades, I get out quick. I don't even need 6 pips.

by the way, I was only taking counter trend trades here, because the market was extremely over sold.

ok, I am done for the week... everyone have a great weekend

Just took this before going to bed... Not my normal hours, so I took it on demo, so I guess it doesn't really count.

Not much of a trend, so I took this counter trend trade off the pivot.

Not an ideal setup, so I got out at the first stall when I was up 6 pips.

This one lasted forever, and almost hit my sl. I exited as soon at I hat 6 pips....

Same as the last trade, but quicker results.

Ok, I am done for the day. Only 1 kind of stressful trade, but it ended up being a very nice day.