After Testing many different ways to try and trade this I have moved out to the 1 hour charts for more of a longer term scalp. I have began to shoot for much greater R:R Ratios, preferably 3:1 or larger. I am also looking to only trade when the conditions are perfect. My current Entry Rules are set up so I should only enter the market once the perfect set ups form. That being said it does take longer for a set up to form but I believe the quality of the set ups out weighs the quantity of them. As long as I can practice Patience, Focus, and Discipline I will be taking only the best trades. I am still using the same money management principal and I am attaching a trade explorer to this thread to track my growth a little better and to see my trade results in real time.
Please feel free to comment, ask questions and Discuss the strategy. That being said please don't try and add 100 indicators to it. KEEP IT SIMPLE.
PLEASE NOTE THIS STRATEGY IS IN DEVELOPMENT...THIS IS WHY I HAVE POSTED IN THE JOURNAL SECTION.
I WILL BE TESTING/DEVELOPING THIS STRATEGY ON A LIVE ACCOUNT & I WILL BE POSTING RESULTS AS THEY COME IN VIA TRADE EXPLORER AND THIS JOURNAL
*REVAMPED RULES*
**I have begun to only use Ichimoku and have removed my "Secret Sauce"**
Indicators:
Ichimoku(Default Settings)
SUMMARY TRADING RULES:
WUKAR - WAKE UP, KISS ASS, REPEAT!!!
1. All trades will be placed on the 1 hour chart.
2. For Long Entry: Price Must Be Above The Cloud.
------------------------------Future Cloud Must Be Bullish.
------------------------------Chiko Span Must Be Above Price.
------------------------------Secret Sauce Must Be Applied While All Conditions Are Met(The Sauce is now in the cloud).
3. For Short Entry: Price Must Be Below The Cloud.
-------------------------------Future Cloud Must Be Bearish.
-------------------------------Chiko Span Must Be Below Price.
-------------------------------Secret Sauce Must Be Applied While All The Above Conditions Are Met(The Sauce is now in the cloud).
4. Stop Loss Will Be Placed @ The Low of the Signal Candle, The Last Swing Low, or Under The Cloud. Whichever looks the best.
5. Take Profit is always at least 3:1 R:R Ratio or You May Exit When The MACD Crosses Again.
6. Never Risk More Than 3% Per Trade.
7. No Full Lot Trades Will Be Placed On Fridays.
8. Do Not Hold Trades Over The Weekend Unless They Are At Break Even.
9. Always Practice Patience, Focus and Discipline.
10. A Mistake is 10 Burpees.
TESTING WILL RUN UNTIL OCTOBER 22: 62 Days (WooHoo! We are already 30% done!)
End Of Week One(+10.3%)
End Of Week Two(+16.1%)
End Of Week Three(+10.4%)
End of Week Four(+.02%)
See yourself as the CEO of your private trading company and ask yourself, is my company healthy or am I going straight for bankruptcy?
The reasons why fores is the best business in the world:
1. no rent of offices
2. no staff
3. no inventory or stock to buy
4. no boss, no colleagues in fact no people involved at all - just you
5. no customers
6. no coldcalling
7. no age requirements / limits
8. low investment to start
9. recession and depression proof
10. possible to add to your investment in time
11. does not involve physical labor
12. easy to start part-time
13. you can borrow as much as you want
14. you can close the business in a moment
15. you can "scale" the business to whatever size you want
16. very low overheads
17. profit potential with controlled risk
18. absolutely minimal paperwork
19. location - totally flexible - with internet you can trade from anywhere in the world
20. you can run a million dollar business from a laptop
21. time - totally flexible - you can work whenever you want
22. You can start trading for others for a 20 % commission, but then it is just like a job ?
23. something you must educate your children
24. it is exiting and fun
25. all the features and benefits of a true dream business
Plan For Building A Passive Income Stream:
PAY YOURSELF FIRST!!!!!
Save 5% of Weekly Income Each Week Into Separate Account(Money Market or Regular Savings).
Once You Have At least $1,000.00 start investing in safe long term mutual funds and continue to add 5% of everything you make every week or month(depending on how you pay your self) and watch it grow.
Things Iv Found Useful From The Forum
Please feel free to comment, ask questions and Discuss the strategy. That being said please don't try and add 100 indicators to it. KEEP IT SIMPLE.
PLEASE NOTE THIS STRATEGY IS IN DEVELOPMENT...THIS IS WHY I HAVE POSTED IN THE JOURNAL SECTION.
I WILL BE TESTING/DEVELOPING THIS STRATEGY ON A LIVE ACCOUNT & I WILL BE POSTING RESULTS AS THEY COME IN VIA TRADE EXPLORER AND THIS JOURNAL
*REVAMPED RULES*
**I have begun to only use Ichimoku and have removed my "Secret Sauce"**
Indicators:
Ichimoku(Default Settings)
SUMMARY TRADING RULES:
WUKAR - WAKE UP, KISS ASS, REPEAT!!!
1. All trades will be placed on the 1 hour chart.
2. For Long Entry: Price Must Be Above The Cloud.
------------------------------Future Cloud Must Be Bullish.
------------------------------Chiko Span Must Be Above Price.
------------------------------Secret Sauce Must Be Applied While All Conditions Are Met(The Sauce is now in the cloud).
3. For Short Entry: Price Must Be Below The Cloud.
-------------------------------Future Cloud Must Be Bearish.
-------------------------------Chiko Span Must Be Below Price.
-------------------------------Secret Sauce Must Be Applied While All The Above Conditions Are Met(The Sauce is now in the cloud).
4. Stop Loss Will Be Placed @ The Low of the Signal Candle, The Last Swing Low, or Under The Cloud. Whichever looks the best.
5. Take Profit is always at least 3:1 R:R Ratio or You May Exit When The MACD Crosses Again.
6. Never Risk More Than 3% Per Trade.
7. No Full Lot Trades Will Be Placed On Fridays.
8. Do Not Hold Trades Over The Weekend Unless They Are At Break Even.
9. Always Practice Patience, Focus and Discipline.
10. A Mistake is 10 Burpees.
TESTING WILL RUN UNTIL OCTOBER 22: 62 Days (WooHoo! We are already 30% done!)
End Of Week One(+10.3%)
End Of Week Two(+16.1%)
End Of Week Three(+10.4%)
End of Week Four(+.02%)
See yourself as the CEO of your private trading company and ask yourself, is my company healthy or am I going straight for bankruptcy?
The reasons why fores is the best business in the world:
1. no rent of offices
2. no staff
3. no inventory or stock to buy
4. no boss, no colleagues in fact no people involved at all - just you
5. no customers
6. no coldcalling
7. no age requirements / limits
8. low investment to start
9. recession and depression proof
10. possible to add to your investment in time
11. does not involve physical labor
12. easy to start part-time
13. you can borrow as much as you want
14. you can close the business in a moment
15. you can "scale" the business to whatever size you want
16. very low overheads
17. profit potential with controlled risk
18. absolutely minimal paperwork
19. location - totally flexible - with internet you can trade from anywhere in the world
20. you can run a million dollar business from a laptop
21. time - totally flexible - you can work whenever you want
22. You can start trading for others for a 20 % commission, but then it is just like a job ?
23. something you must educate your children
24. it is exiting and fun
25. all the features and benefits of a true dream business
Plan For Building A Passive Income Stream:
PAY YOURSELF FIRST!!!!!
Save 5% of Weekly Income Each Week Into Separate Account(Money Market or Regular Savings).
Once You Have At least $1,000.00 start investing in safe long term mutual funds and continue to add 5% of everything you make every week or month(depending on how you pay your self) and watch it grow.
Things Iv Found Useful From The Forum
Luck is what happens when preparation meets opportunity
time for 
