Hi Traders,
Some words about me: I started my forex activity approx. 8 years ago .. blah blah .. and blah
OK! Let's start!
In this thread I'm going to show you one of the simplest, but powerful trading methods.
Simplest does not necessarily mean that easiest. But, if you are willing to learn and practice, this may bring you huge profit.
This method is not my invention, this is a pretty basic system used by many.
The difference from others: I mostly use 12 seconds chart.
The essence:
Firstly, I try to make a bias based on a higher TF (preferred time frame is M30). Bias is good, but not necessary.
Searching for significant levels, which are determined primarily from tops/bottoms, S/R, round numbers, daily high/low.
I react to the price action at these significant levels.
What are these price actions? Break outs, rebounds. Very simple.
Also, stop and profit target are at levels.
I don't wanna speak a lot, but make many pictures instead. These pictures will speak for itselves.
My trading platform is Metatrader4.
I use a special tool called ScalperChart, it is able to make special charts what I need for. (Of course, you can use your favourite tool.)
Mostly I use 12 seconds chart with Heiken Ashi candles.
Why don't I use 1 minute charts? Because 12 sec chart gives a much more transparency of price action, I can feel the pulse of the instrument.
It gives a much clearer map of the movements.
Why 12? Just. No special reason, it is pretty comfortable. Well-tried.
Are you afraid of 12 seconds? Do you think it is too quick? The answer: NO!
Typical trades last approx. 10-30 minutes, so you have a long time to manage your trades. Really comfortable.
(Important: my English is pretty pale, so be merciful with me.)
In this thread there are many trade examples. I open this new thread because the old thread's title doesn't cover my style.
In the next posts, foretaste I show you some of my previous trades.
Some words about me: I started my forex activity approx. 8 years ago .. blah blah .. and blah
OK! Let's start!
In this thread I'm going to show you one of the simplest, but powerful trading methods.
Simplest does not necessarily mean that easiest. But, if you are willing to learn and practice, this may bring you huge profit.
This method is not my invention, this is a pretty basic system used by many.
The difference from others: I mostly use 12 seconds chart.
The essence:
Firstly, I try to make a bias based on a higher TF (preferred time frame is M30). Bias is good, but not necessary.
Searching for significant levels, which are determined primarily from tops/bottoms, S/R, round numbers, daily high/low.
I react to the price action at these significant levels.
What are these price actions? Break outs, rebounds. Very simple.
Also, stop and profit target are at levels.
I don't wanna speak a lot, but make many pictures instead. These pictures will speak for itselves.
My trading platform is Metatrader4.
I use a special tool called ScalperChart, it is able to make special charts what I need for. (Of course, you can use your favourite tool.)
Mostly I use 12 seconds chart with Heiken Ashi candles.
Why don't I use 1 minute charts? Because 12 sec chart gives a much more transparency of price action, I can feel the pulse of the instrument.
It gives a much clearer map of the movements.
Why 12? Just. No special reason, it is pretty comfortable. Well-tried.
Are you afraid of 12 seconds? Do you think it is too quick? The answer: NO!
Typical trades last approx. 10-30 minutes, so you have a long time to manage your trades. Really comfortable.
(Important: my English is pretty pale, so be merciful with me.)
In this thread there are many trade examples. I open this new thread because the old thread's title doesn't cover my style.
In the next posts, foretaste I show you some of my previous trades.
