Trade with basic concepts
I have been trading for 4.5 years. Here I start my trading journal, and I will try to post every trade I take.
some basic concepts:
Trend:
Trend is permutation and combination of main and corrective waves.
There are four corrective waves: Simple, ABC, Triangle, 12345.
Setting of the chart:
8 EMA
21 EMA
34 EMA
89 SMA
200 SMA
ZigZag(6,5,3)
MACD H4-300(5,13,1)
myMACD(12,26,9)
I have see the chart with these indicators for several years, if I took all the indicators off the chart, it looks strange to me.
M15 chart: 34 EMA(close), 34 EMA(close), 34 EMA(close), and Zigzag (6, 5, 3).
How to trade:
determine trend on H4 or H1 Timeframe and wait corrective wave comes to end.
And take M15 break out in the direction of main waves.
If price goes to Fibo 261.8% level I will close 50% of the position and let the other 50% run. After that I will close the trade according to the price movement. Profits with RR ration > 1:1 is ok.
I trade EURUSD, GBPUSD, AUDUSD, XAUUSD, USDCAD and EURJPY.
Risk 1% of my balance for a single trade.
Sep: -2.63%
Oct: -2.37%
Dhalsim
I have been trading for 4.5 years. Here I start my trading journal, and I will try to post every trade I take.
some basic concepts:
Trend:
Trend is permutation and combination of main and corrective waves.
There are four corrective waves: Simple, ABC, Triangle, 12345.
Setting of the chart:
8 EMA
21 EMA
34 EMA
89 SMA
200 SMA
ZigZag(6,5,3)
MACD H4-300(5,13,1)
myMACD(12,26,9)
I have see the chart with these indicators for several years, if I took all the indicators off the chart, it looks strange to me.
M15 chart: 34 EMA(close), 34 EMA(close), 34 EMA(close), and Zigzag (6, 5, 3).
How to trade:
determine trend on H4 or H1 Timeframe and wait corrective wave comes to end.
And take M15 break out in the direction of main waves.
If price goes to Fibo 261.8% level I will close 50% of the position and let the other 50% run. After that I will close the trade according to the price movement. Profits with RR ration > 1:1 is ok.
I trade EURUSD, GBPUSD, AUDUSD, XAUUSD, USDCAD and EURJPY.
Risk 1% of my balance for a single trade.
Sep: -2.63%
Oct: -2.37%
Dhalsim
Attached Image
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