DislikedI know many traders would say to trade from smaller timeframe and look at bigger timeframe as reference would be difficult to trade. I have to agree on this thou because it makes me tired For my rules, the signals doesn't come often but if it does, its profitable. I'm looking for a higher tf strategy now. Maybe you can share something too?
1. Wait for ts/ks cross above/below kumo in M5
2. Check chikou above/below kumo, else wait for chikou above/below kumo & if price is distance away from TS then wait for pullback first.
3. SL < 30 pips
4....Ignored
i am sure that you will end up adding another rule to your above points which is FOLLOW THE TREND cause if you are not following the trend then you are not making money !!!
1.Check the direction of the 1hr and 4Hrs chart
2. Wait for ts/ks cross above/below kumo in M5
3. Check chikou above/below kumo, else wait for chikou above/below kumo & if price is distance away from TS then wait for pullback first.
4. SL < 30 pips
5. Check bigger TF for a few support/resistance as TP area
6. If TP < 30 pips = no trade
following the higher TFs is very easy , u can make a check list with all the pairs u have ( like the simple one i attached in here ) and when you wake up in the morning u check the 1hr and 4hrs charts and see if the price is above both or below both.
in your check list write in front of each pair if you gonna buy or sell or neutral and start trading the rules u stated above
am sure you will be amazed with the results and you will hardly lose ,cause you will not be fighting the market actually you will be floating in harmony with the market
we can say that these are our entry rules, still we didn't fill all our trading rules !!!
there is something for sure is missing in here cause trading is not only the entry
what other rules u think we shall add to the list !!!
Attached Image