Hi Everyone,
I have been trying for the last 4-5 years to find the perfect system.
That is the perfect system for me - every trader has his/her own special way of trading or analysing the same peice of information.
I want to trade on 1 hr charts as I work from home and I want to be able to decide whether to excute a trade quickly.
I can do this with this system in about a minute befroe the new candle opens.
I have tried using just price action and also every indicator ever coded but there are two indicators that I keep coming back to.
I have gone back over the last year on G/J and I have an 80% success rate.
I have concluded on average that in a normal week there will be 5 trades - 4 will win or break even and one will be an outright loser.
The avergae loser will be 50 to 60 pips.
This means as long as I lock in 60 pips per week I should not have negative week on average.
Indicators will follow.
This is a screen shot of the places where I executed trades for the week.
The buy and sell happened at the close of these candles.
I do not have a solid exit as yet - I simply use the average approach - so any comments are welcome for this.
In the chart 6 trades I made ended up making a profit (or breaking even) whilst one was a simple loser.
Can anyone guess which 2 indicators I used?
I will post them if anyone shows and interest.
I look forward to peoples thoughts.
Al
I have been trying for the last 4-5 years to find the perfect system.
That is the perfect system for me - every trader has his/her own special way of trading or analysing the same peice of information.
I want to trade on 1 hr charts as I work from home and I want to be able to decide whether to excute a trade quickly.
I can do this with this system in about a minute befroe the new candle opens.
I have tried using just price action and also every indicator ever coded but there are two indicators that I keep coming back to.
I have gone back over the last year on G/J and I have an 80% success rate.
I have concluded on average that in a normal week there will be 5 trades - 4 will win or break even and one will be an outright loser.
The avergae loser will be 50 to 60 pips.
This means as long as I lock in 60 pips per week I should not have negative week on average.
Indicators will follow.
This is a screen shot of the places where I executed trades for the week.
The buy and sell happened at the close of these candles.
I do not have a solid exit as yet - I simply use the average approach - so any comments are welcome for this.
In the chart 6 trades I made ended up making a profit (or breaking even) whilst one was a simple loser.
Can anyone guess which 2 indicators I used?
I will post them if anyone shows and interest.
I look forward to peoples thoughts.
Al