

	**I trade mostly the NY open say starting 8am EST till 11am. I trade 3 says a week Tues-Thurs. I trade 1-5 lots depending on my mood.**




Template as follows:

15 minute candles (He's been using M5 for more trades, more action)

Williams %r With only 50 median line

SAR X-overs

Buy when you get a bullish arrow and Williams %R is above 50(Some times you will get arrows when price is consolidating wait for price to break resistance/support. )

Sell when you get a bearish arrow and Williams%R is below 50(same applies with consolidations)

I set stops a few pips above/below previous swing high/lows don't set specific TP's just keep moving stops as trades goes my way.




You are looking for Sar to flip from Either above to below or below to above for possible entry confirmed by Williams %r crossing below 50 for short
or above 50 for long. Do not use them for stop losses, though I guess you could I use swing hi/lows.


  

1. SAR is below price bar
2. Wiliams %R crossed above 50
3. Go long





For last few weeks you are able to find good trades focusing on USD, CHF, EUR, GBP AND JPY these are always weakest and/or strongest due to corona virus crisis.




There are no downloads, these are pretty standard indicators which should be available on most platforms.

They are Parabolic SAR Cross overs standard settings(if you don't have this, you should have Parabolic SAR).
Williams %R settings changed to make over sold/over bought same at 50, length changed from 10 to 16.
  




If you are using mt4 or 5 platforms they have Parabolic SAR Indicator free. This will print dots above or below price, so instead of an arrow you will see a series of dots.
So you would be looking for when the dot switches sides from upper to lower or vice versa.





Q: what period is the willams %r?
  
A: 16 with ob/os set at 50 Williams%R, SAR X-over 5 or 15 minute candles



I do love playing with a new system. Honestly might have ti change title since I'm mostly trading 5 min. candles. 
Finding 15 min a little slow for me, plus I never liked larger stop losses. But that's a very important part of trading figuring out your psychological quirks that let you be 
comfortable with what you are doing. For me I like a little speed, I don't mind hitting a bunch of singles/doubles because I like to be right. 
Anyway 4 trades done in an hour, time for bed.




Mainly look at E/J, E/U, G/U, U/CHF, & U/J. On Days when Eur, Jpy or Usd are trending strongly might expand into a/j, a/u. e/g, g/j, g/a and u/c.
But I start every day with the first 5.




Q: When you are in the trade and see opposite signal, do you take the opposite signal or seat in the first trade if it did not stop you out?

Q: Is market entries below based on Williams R above/below 50 and breakout of parabolics? Why would you take some and not take other trades?


A: I'll usually stay in trade if my s/l has been moved to B/E or small profit. 
Honestly sometimes just by feel or what time it is. I don't like to spend at most 3 hours trading and id I'm happy with things even less. 
Spending more time now but thats due to fact beaches here are closed along with most everything else. 
As far as your chart usually price structure is not broken or price just appear to be consolidating. 
Don't look at consolidation as a line but as an area. Also always better to stay with trend if its an obvious one.





You are looking for Sar to flip from Either above to below or below to above for possible entry confirmed by Williams %r crossing below 50 for short or above 50 for long.





NY open should be interesting with non farm payroll numbers coming out but I'll wait for the dust to settle before trying to trade.





4 hour reading will often let you see best how strong/weak a currency is trading, which in turn tells me trade with trend forget about reversals.
Often the best trading days are when 1 currency is very strong/weak and all the others are soso. Espeially when its usd, eur, gbp or jpy.
  




My first stop loss is placed at Previous swing high/low.(never larger than 20 pips) Once i'm at 10 pips profit move stop up 5 pips at 20 pips move to B/E at that point it becomes how does market feel, completely discretionary.
  




One of the most important parts of day trading is managing risk. Part of that is not getting greedy on waiting to take profits. 
Hey if you make 10 pips and you've been in a trade for an hour watching it wander around get out and take the 10 pips. 
Will you miss out on some trades that take off a bit yes but more often you'll avoid a small loss or B/E trade. 
Don't dwell on what you missed be happy the trade was a winner. As for Stops my primary concern with that is don't take the full hit, 
80% of my trades that are losers my loss will be in 5-8 pip range, again doing this sometimes you miss out but i'm think 60-70-% you avoid taking a bigger loss.






One other small change switched from just 20 ema to 10 and 20 ema







NY open should be interesting with non farm payroll numbers coming out but I'll wait for the dust to settle before trying to trade.






1)no I do not take every entry after consolidation. I usually try to keep my trades to the weakest/strongest currencies. Use a currency strength meter tons of apps 
available for android. I'm not a phone guy, so I use fx power indicator at trading strategy guide,co under free tools tab. I check 4hr, 1hr and 15min readings.

2)Ranging markets, you need to be ruthless. Tighter stops and tighter take profits.






4 hour reading will often let you see best how strong/weak a currency is trading, which in turn tells me trade with trend forget about reversals.
Often the best trading days are when 1 currency is very strong/weak and all the others are soso. Espeially when its usd, eur, gbp or jpy.
  




My first stop loss is placed at Previous swing high/low.(never larger than 20 pips) Once i'm at 10 pips profit move stop up 5 pips at 20 pips move to B/E at that point it becomes how does market feel, completely discretionary.
  



One of the most important parts of day trading is managing risk. Part of that is not getting greedy on waiting to take profits. 
Hey if you make 10 pips and you've been in a trade for an hour watching it wander around get out and take the 10 pips. 
Will you miss out on some trades that take off a bit yes but more often you'll avoid a small loss or B/E trade. 
Don't dwell on what you missed be happy the trade was a winner. As for Stops my primary concern with that is don't take the full hit, 
80% of my trades that are losers my loss will be in 5-8 pip range, again doing this sometimes you miss out but i'm think 60-70-% you avoid taking a bigger loss.






Both aud trades and gbp trade the winners I got out because of bearish/bullish canbdles with big wicks forming.






I started trading at 6:45 my time and was done early. Generally I'll start to trade at night I'll start anywhere from 11 to 12, mornings anywhere from 5:30-7.
  





Q.....Could you PLease explain how you use the 10 and 20 ema? Open? Close?

A.....long the 10 crossed above 20, short the 10 crossed below 20. 20 ema can be used as support/resistance while in a trade. 
Say you a re long on eur/usd trade has moved in your direction as it does 10 and 20 ema's will separate a bit. 
Then price moves against you for 2 candles but hits 20ema and closes at it. 
That can be a sign that 20 ema is acting as support and price might bounce up an continue in your direction.






Q......Rocky, do you place SL, right away? For long under MA 20? Do you ever trail? Can you talk about your MM a bit...as you enter a trade?

A......Yes I place stops at entry, I have a trade template that automatically places a 20 pip stop I can then drag stop on the chart to actual desired spot.

No I don't use trailing stops, personal preference nothing wrong with them.
  





Q.......What is your average stop loss in pips, when stopped out

A.......6-8 pips get a fair amount of b/e's
  





Q.......With your UJ trade.......did you enter on an "open" candle when price crossed over the 50 or did you wait for that candle to close before you entered? 
It looks like if you entered on the candle that you highlighted you would have entered on a "open" candle. If you would have waited for the M5 candle to close 
you would have actually entered on the next candle.

A.......Probably entered at little past 4 min mark.






Q........Is there an amount of time you would consider waiting and then canceling the signal if both indicators don't line up? 
I notice that normally one of the indicators will be in position first and then you have to wait on the second. 
I wasn't sure if there was an amount of time that you would wait before you change your mind on the trade?
  


A........Kind of depends on Price action if its popping up and down better of with quick confirmation 3-4 candles you can be move patient if price is in a 
tight range consolidating(squeeze on a BB) patience there can provide some very nice trades.
  





Q.......Do you wait for the candle to close once the arrow shows up? I have noticed the arrow may trigger alert mid way through a candle. Thanks
  
A.......Yes I wait for candle to close because as it appears early it can also disappear






the s/l's yes that is what I do. The Williams%R at 50 I'm not sure what you mean Yes I might exit a trade I'm in because W%R reversed against me, 
but mostly use that for 1 of triggers/confirmations for entry. Truthfully my exits are mostly how I'm feeling about price movement, 
or I'm just done trading. Hope that helps
 1 




Q........What percentage of your risk account do you put on the line for each trade and are all trades - same position amount?

A........Max risk 1%. No I trade different lot sizes, anywhere from 1 to 5. large majority 1. If I trade a 5 that will be my only open trade.






I don't even
sit watching the charts when I'm trading. If I'm using 5min. I check every 5 min., 15 min then every 15min. 
So I started trading at 11pm 10-15 mins, later these candles pop on Aud pairs The latest arrow are in my direction the Williams is on the right side, 
Price has Broken out of Consolidation so I take trades.




Don't trade Monday or Friday.






Q.......Would you cut your loss if candle closed above 20EMA?
  
A.......In all probability yes






My trades open with 20 pip S/L which I then either leave or adjust the A/J was moved slightly up to 17 pips, and at 5:25 to 5 pips, 5:55 to B/E. The E/J entry was on 
a large candle so S/L stayed at 20 5:55 to 5 pips, 6:05 to B/E. 






"My first stop loss is placed at Previous swing high/low.(never larger than 20 pips) Once i'm at 10 pips profit move stop up 5 pips at 20 pips move to B/E at that 
point it becomes how does market feel, completely discretionary."







Q........Rocky, when you look at 1Hr or 15 min strength for the pair and you see that EURJPY is a Buy, it means that it is already been going up for awhile and we 
can see it on the 5 min chart......so do you wait for pullback to enter the same strength direction or you look to trade the reversal of that direction?
  


A........If the trend has been lengthy say at least 2-3 hours I look to trade with the trend, Shorter will go either way look for divergences.
  






You have 3 no actually 4 components to system PSAR, EMA, W%R and the most important price action. The first three could start you looking for a trade doesn'rt matter 
what order they trigger in just that all of them point toward possible trade, Price action confirms the trade entry. You need to sort the signals out which is done by 
price action, if you just used the indicators and took every trade, system is a loser.


Now as far a W%R crossing the -50 line is the simple part, there is other information available to you..... 

1) Divergences, example all the indicators point toward Bullish entry, but WPR gives you Bearish divergence do you enter or wait to see if price than reverses, 
then returns to the trend. 

2)You are in a trade with some decent profit And a Divergence pops up Do you look for an exit or not? 

3) Price has stayed below -50 line for last 2 hour Now you get a Bullish signal as WPR peaks above -50 whats your choice take signal or not? 
All the indicators have their subleties, Its not just price is above ema, WPR crossed -50 ,PSAR flipped, plus candles are more than just OHLC. 
There is size, wicks indivdually tell you something, their patterns tell you something, Do you enter on a Bearish pin bar? 
All 4 components offer you an edge if you learn to interpret the information correctly.






Q..........Do I need to choose the strong and weakest currencies based in the perticular timeframe I am traiding in my chart or need to consider higher 
timeframes as well?

A..........I look at 4hr, 1hr and 15 min......I trade mainly M5, sometimes M15.


  


Q..........Since you trade such a short TF, when big news releases come out do you wait a certain number of candles before entering in case of a directional fake out? 
Do you wait a specific amount of time to make sure you get in on the direction?

A..........I generally wait for 20-30 minutes if news causes big candles to form.
  

  






















































































































































































