1% Trading System - Continued

Ok It worked
I think it has now broken 1.3450 or 1.3380
This time 2 positions will be required both having sl below 1.3360

Count your sl from the broken level and not from your entry. Wait for confirmation of exact level

My buy entry for FOMC at 1.3361 did not trigger

Current short is based on method #1 and risky if broken level proves to be 1.3500

I just learned that there is something called Subscription to a member. I yet have to check what it exactly means and how it works, but what I understand is that a member can follow posts of some other member. I find that chilling, because it places great responsibility on myself for those who follow my posts. Therefore from this point onward I will be wrting only two types of posts:

1. Trading related posts that are very very responsible
2. Stress releaving funny comments

I am now debating whether to continue taking wild trades on my demo account here or strictly follow what is right. The logical answer that comes to my mind is to take trades based only on my method and within the risk tolerence it permits. The only concern I have is that it will deprive me of the thrill that I get from this demo account because I cannot afford using my real accounts just for thrill. But, a responsibility is a responsibility and therefore I have to keep the thrill out of it. I will now use this demo account the way I use my real ones. Trading will be little less thrilling, but rmaybe it helps me transfer whatever little I have learned and gain some more from you.

Coming back to current pa, I am not sure if it has broken 1.3380, 1.3450 or 1.3500. It is too early to say anything as yet because pa has not established any new line of least resistance. The market had only one and a half day after FOMC, that too when most expect some profit taking. The pa is currently at a logical level, that is 25 pips past a round number. Many a times, pa stays in between 00 and 50 (i.e. at 25) before direction becomes clear. Based on my experience with this kind of moves that do not show immediate correction, pa continues moving and shows a decent retrace only after it has traveled very far. What it means? It means if pa does not show a retrace from this level to form a new line of least resistance at a lower level, this move is not complete yet. During this time of the year, it is possible that it may not show a decent retrace until going further several hundred pips.

Based on method #2, one should remain on sidelines until pa retraces and clearly establishes a new line of least resistance. Please do remember that establishing a new line of least resistance is not the end, these lines can also break as soon as they are established because we live in an ever changing world. If it goes higher without showing a retrace, we will only miss an opportunity. No, let me correct myself, we won't miss anything because there is no opportunity under method #2 until pa retraces and forms a new line of least resistance.

Based on the above post, I am now closing my position and will take only those positions that conform to my method and the risk.

Closed 90% of the position. Will now follow my methods

Long based on method 2. Think it broke 1.3525. This is a scalp

Stopped out before reaching 1:2 r:r to book profit equal to risk taken.

Here is the detail how I book partial profit. For example, in the last trade, I bought 60,000 units with a stoploss of 7 pips. If it reaches profit of 2 x 7 = 14 pips, I close 50% of the position, that is 30,000 units. Now let the 50% go until either it hits my sl or I think it is time to close that trade. This way I book 14 pip profit on 1/2 the position and 7 pip loss on the other half. If it never gives me a chance of booking partial profit, my risk is 7 pips on a full position, equal to 14 pips on 1/2 th position. This trade is complete and now I don't think about it. It doesn't matter where I bought or sold or how much profit/loss was made on that trade.

I am now again long for the same reason, ie. I think 1.3525 has been broken. Any pa movement below this level to me is just a noise. There is good chance that I am wrong. This time I bought around 1.3520 with sl of 8 pips. My partial take profit (50% close) is at 1.3536 which is 2 x 8 = 16 pips. Let's see what happens here.

Partial profit order triggered at 1.3536. My sl is at 1.3513 but the explorer incorrectly shows it as 1.3313. Maybe because at the time of opening this trade, I mistakenly set it at 1.3313 and then immediately corrected it to 1.3513. I think explorer did not copy that change. Many times explorer does strange things.

..... also I have no tp. Will close at next line of least resistance.

Here are the correct sl and tp details

Long at 1.3530, TP 1.3550, sl 5 pips. Based on method 1

Booked partial profits.

Chicky's Trade Explorer All Time Return: -77.3%


100% bullshit trading system.


You should not trade

You saw demonstration of both the systems on a very short-term timeframe. There are so many disadvantages of using such methods on a smaller timeframe. For example, just prior to London open (2 or 3 minutes before), spread went up to 9.5 pips. Please do remember that spread do not widen equally in both the directions. They widen more on one side than other, taking out positions open in the direction pa is expected to leap. Luckily, they did not touch my sl. However, Daily timeframe is best to use these methods.

Most of us cannot afford much screen time. Smaller timeframe need a lot of screen time and r:r is not so great because of the high proportion of spread to lenght of a trade in terms of pips.

Stoped out. Long again using method 1

maybe you should think before you type....

Again stopped out. It is now testing 1.3525. If its broken, we have 1.3500, 1.3450 and 1.3380 to see if line of least resistance establishes at any of these levels. 1.3525 is not broken yet.

I think 1.3525 is broken, but taking a last long scalp before confirmation of this break.

momentum is down, could very well be a down day.....