**EDITED**
I'll not be TEACHING any new strategy here FF is already littered with great Idea's, NOR will I be SELLING anything here.
This is my journal made to document all my trades & my trading system, behavior, patterns & general trading style. The Aim at the title of this page still remains valid, for me.
The markets have humbled me as it has all of us at one point in time, as usual I choose to start small the premise being if I can't make profit with a small amount I can't handle a bigger account size. I would prefer posters keep their advice to themselves [unless it's very constructive].
I am through learning the art of trading, read through countless trading systems, methods and books, there's nothing more to learn from others, all that's left is to develop my own way, again, the way I choose to trade here is MY WAY. If you think its absurd, it'll fail, it makes no sense, you are right, but it's still mine.
A fellow on FF called CrucialPoint, said something on one of his threads, he said "The Majors daily range average from 100 to 250 points... Give me one good reason WHY you are unable to take 10 points from it everyday?" simply put if you can't do this, "You Don't Know how to trade". This has stuck with me.
THE PLAN: Attached is the guide I will be using in calculating lot-size and profit target, it is not set in stone, generally my target is 50pips/week if I cannot do this I do not yet know how to trade, the plan is very high risk, to simplify it, a deviation from my price by 100 points blows the account.
THE SYSTEM: The system is based on the Sonic.R/PVSRA thread rules. But I apply my discretion, see attached screenshot. Indicators I use is shown in the attached picture. Time frame M15. Line chart is preferred its easier to view price movement for me. There are 96, M15 candles in a day therefore I chose the 96EMA.
Best Buy Setup:
- Price cross above 96ema trend band (best after A,B,C,D pattern)
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- GMMA Long band is wide. [added]
- Price around whole number.
- No news/after news.
Note:
- GMMA Long, helps me define consolidation (if band is tight -range-) [added]
- Colored candles show area's of high activity.
- Stop Loss I put arbitrarily (prefer to nurse the trade till it moves a decent no. of pips before locking the trade with an S.L),
- Take Profit will vary. The rest is self explanatory.
P.S: Do not ask me for the indicators/templates, look at the screen shot and google it, you'll find it.
-UPDATE: Removed, MADash, replaced with GMMA Long.
Removed, PBF_OSOB, it gets out of sync with price to frequently.