System Messages

This forum is for members of the Apiary Investment Fund. To learn more about how to get involved,
sign up now for a 14 day free trial or fill out the form below and preview the training right now!

I guess i trade like this

 
Back to Forums
 
 
jan.steyn

I guess i trade like this

Im trading about 3-4 years now and i guess im getting close to something that i can call a Strategy

I got to a point where i understand why i get confused so easily and almost all the time. Till now I got trained to read price action but i never knew that, that is what im learning. I dont use any indicators to tell me anything, the only something that tells me anything is what the Japanese Candle Sticks tell me.

Why im saying this is because my strategy is boring for someone looking for stuff on the chart BUT awesome for someone that might get confused about the stuff on the chart

What do you need?

A Japanese Candlestick chart. Draw Weakly, Daily and Hourly Support or Resistance levels EACH with its own selected color. Time does not matter, what ever you want, just make sure you use 3/4 diverent time frames to make a trade. Some Sunday Football and take time inbetween the useless time where nothing is happening to draw all the time frame lines on the chart/s you find interesting and might use for the up and coming week.

  1. I look at what the 'Big money' is doing on the Weakly/daily charts (up, down or consolidation). On a daily basis I pay attention to when/what the news is and what it could do to price
  2. Does the Weekly, daily and 4H chart reflect to the current news/events?
  3. IS there some major (Weekly, ex. Gold color line), Medium (Daily, ex. Majenta color line), Minor (Hourly, ex. Yellow color line) Support or Resistance close by to the current price?
  4. Is there some kind of classical pattern that might tell a story about why the price might keep moving or turn around?
  5. Does the momentum of the highs and/or lows slow down or speed up as it gets close to the pattern/S&R line?
  6. What is the relative strenth about the pair im looking at? Is this pair stronger or weaker compared to other major pairs?
  7. You can add the SSR stratigy in here to confirm your bias
  8. Do they all line up and i have atleast a 4 to 5 times a profit target compared to my stop loss?
  9. What you might have as a stop loss is somewhere on top of Resistance or below Support at best 1 and a half time the ATR of the chart you deside on to enter the trade at. I just take it close'ish to the nearest SorR
  10. Take the trade and....
  11. Do not forget to take that profit that you are suppost to take and earned, do not get greedy about taking the profit (My issue i am working on at this time)

 

Have fun and keep trading, the good trades happen + trust your instinkt and stick to it unless some bigger time frame chart proves you wrong!

 

Steyn

Wed, 09/18/2019 - 3:44pm