Ok today I am going to move away from traders and discuss more about robust trading methodology.or system. There are essentially (5) criteria needed of a system which is robust enough to ensure consistent success. 1) The RRR must have a minimum of 1:2 or more. (SL cannot exceed 30 pips for EU pairs and 60 pips for other majors pairs. Other crosses could be more but I personally don’t trade them so I will not discuss them.) 2) It must be clear, simple and concise and easily transmittable to any traders old and new in 5 simple steps. 3) It must immediately…
Alright I would want to continue where I last left off despite all the ridicules and naysayings from many. To stop is a to admit that those naysayers are right and also a misgiving to my trading method no matter how I feel about getting bashed by doing all this. There are a handful especially Hanover and Clemmo and few others who may somehow but not completely understand where I am coming from therefore i would want to carry on so it can at least benefit some who is willing to listen and spread the understandings more.
But I have asked admin to change the thread title to a more gentler heading to ”Sign of a successful trading method” instead of the original which may have sounded offensive to some from some of the responds I received. it’s never my intention to be so and if you are affected then I apologise for being insensitive and forceful in my endeavour.
Now that I have already mentioned my trading plans in my earlier posts I will now try to speak on how I execute my trade based on that plan.
1. I have an indicator in my method which clearly show when and where the topping or basing has occured or a reversal signal.
2. Then the same indicator will show the pullback area where I enter the trade with a hard 10-15 pips sl for a tp at a minimum of 30-45 pips or until the next reversal happen as indicated by the method with the same indicator. If time is not conducive when I need to rest then I might tp around the minimum RR levels especially in PA is shown to be ranging waiting for important news poised for either a breakout/breakdown. Sometimes PA can range for days or even weeks and that’s where my method can effectively pick up those rangey scalp trade of 30-45 pips a few times over.
It’s whole PA process is a simple daytrading method with a high success rate of over 70% and it is focus mainly on E/U pairs of which the full details I would not choose to disclose to everybody for obvious reasons.
What I can also do is to give my inputs on any trade setups which may need a second opinion of which I will gladly obliged if I am awake.
I will also make 10 live trade calls in the coming weeks based on the success criteria listed above to reinforce my point on what I posted. I truly hope other traders can join me in making those live calls to share our knowledge and hopefully sharpen our trading skills collectively. And I wish to reiterate that I am not a system vendor and never intend to be one and what I am sharing is absolutely free.
Happy trading to all