Trading based on Confluence

Hi all,
In this thread I will be posting my trades whether losers or winners . we can also share ideas . I'm a technical trader, and all my trades are based on confluence.I use Trend Line, Channel,Fibonacci, Divergence(MACD),Pin Bar, Support Resistance zone and Pattern.I try to maintain higher Reward Risk ratio rather than Win Loss ratio.My stop losses are very sharp to maintain higher Reward Risk ratio.

I trade all the pairs but mainly I try to find a trade on major pairs.My main time frame for trading is 4H, Daily, Weekly, Monthly but I take entry on 5-15 min chart when the trend is confirmed in higher Time frame to control the Stop Losses.

Normally who wants to trade with my entries is advised to shift the Stop Loss in Entry level when the Reward Risk ratio is 1:1 I mean when the Stop Loss is 30 pips and the pair is moved to your side by 30 pips take the Stop Loss to the entry level.

Personally it is advisable to take 0.50-1.00% risk per trade and not more than 2-3% at a time for the all the running trades.

Every month I shall calculate the Reward percentage we have gained through this way.

Best wishes for you and it is appreciated the help of yours in this trading approach.

I am keeping record of my trades in the following link:
https://www.myfxbook.com/portfolio/c...ormance/189958

Regards.

ENTRY:1.2960 level
Stop Loss:1.2930
Target Profit: when RR=1 BE=SL and unitl I say keep run it.
Risk not more then 1%

AUDNZD has hit the RR 1:1 who has taken this at 1.2960 level...Please remember that if the RR is 1:1 then keep the SL at Entry....And then run it....It is in channel of 4H so if it runs up to the half of the channel our RR will be 3+:1 at least....

Regards.

Wait for more signal from you..

I am planning a short in GBPUSD. It is in a daily channel and Bouncing back from there.But it has broken a MONTHLY PRICE PIVOT zone. I shall wait to break this SUPPORT ZONE.Otherwise it is not short confirmation.And even it is in a 4H strong channel.Let it break these two things-the MONTHLY PIVOT ZONE and the 4H channel. If I could get a confirmation from the DIVERGENCE I could make a trade. Here I am just getting two thing for confirmation , that is daily extended channel and a 4H small channel(turquoise color). I can't rely on that for a huge short trade.
I shall go for short when the price level will be in ARROW level.
Regards.

GOLD IS SHOWING SHORT.
ENTRY:1795 level
SL: 1818 level
Target Profit: NOT FIXED.
Details in the chart. Though it has chance to touch the channel upper range.

Oh.I am enjoying Reward Risk ratio at 1:1...I am going to place my SL at Entry Level.
Regards.

ENTRY level:.90900
Stop Loss:.91300
Target Profit:NOT FIXED still.
The reason of SHORTING:
It is bouncing from a channel top with divergence in 4H.

I am hit in Stop Loss in USDCHF.Bad luck.But my two other trading is okay with RR more than 1. Let them run for more RR.

I am here following simple money management.

My predefined Reward Risk ratio is 2:1. I risk 1$ to gain 2$ and I use confluence to win at least 60% of my trades.Normally I get 20-25 trades per month and at a time I don't risk more than 2% of my equity. In one trade I risk not more than 1%. That is simple. But for new traders I suggest to use 0.50% of your equity and at a time not more than 1% of your equity.

When my trades touch RR 1:1 I take my Stop Loss to the Entry level and when the trades touch RR 2:1 I close 90% of open positions of my trades and run the rest for higher RR.

It is very simple to use.I try to make my trades in simple way and I use only indicators to observe DIVERGENCE. I love divergence very much.

Regards.

Entry level:1765
SL:1776
TP: RR-2:1

Though in higher TF like in 4H gold is in uptrend in a Trend Line.But my position is taken on the basis of 30 min TF. Why I am denying here higher TF? I am denying here higher TF as I am not satisfied the correction in the gold in higher TF, according to Elliot Wave the correction should be upto 38.2% to meet the first wave....
My TP is 38.2% or 50% of the FIBO.
Wish me best of luck.

I am quiting from GOLD short.

EU:

ENTRY:1.34750
SL:1.35750
TP: more than 2 times of SL then the TP will be 1.32750 at least or run with entry at Break Even.

AU:

ENTRY:1.03450
SL: 1.02300
TP:TP: more than 2 times of SL then the TP will be 1.000 at least or run with entry at Break Even.

Here is the images I am trading.

USDCAD LONG:
ENTRY:1.01450
SL:1.00800

TP: RR will be more than 3-4 times if it hits to upward.....

1. NZDUSD short:
   ENTRY at :0.78
   STOP LOSS:.79300
   TP: will be more than 3-4 times I guess....Don't risk more than 1% per trade and overall opening should not be 3-4% at a time....
   
   
   
   
   
   

Just see my all positions are longing USD, so there is no use of taking huge risk in EU GU NU UCAD or bla bla...If my USDCAD is wrong then my EU will be also wrong...when you will use perfect Percentage Risk Model so be with one or two pair ....
I don't take risk more than 1% in one pair and at a time I don't risk my equity more than 3-4% so I can't open more than 4 pairs at a time....

This is an excellent thread.

Can you please post your trades and explanation of how you make your analisys in more detailse. Please

thank you for sharing your trading skills with us

Dear recently I was busy with some of my personal stuffs...So I could not post.. But here I did made some trades in Dukascopy trading contest..
http://www.dukascopy.com/traderconte...&trader=kawser

These trades are made also in my real account not using more than 2% risk per trade.... I shall update my trades in regular basis...
Thank you for your nice comments
Regards.