High Probability Trading

[raging bull]

For those of you still searching for the holy grail keep looking because there is no such thing. For the rest of you just looking for consistent wins then you may be in the right place. In this system I just so happend to stumble upon I did not create it, 4x made easy has this system as well, just a disclaimer as well you trade at your own risk.

well that out of the way lets start:

I trade gbp/jpy on vt trader because I like the volatility of the pair

two charts at the same time 4hr and 30min

1) identify the trend
2) check the eco. calender for any major events
3) identify support and resistance
4) use indicators for entry
5) buy at dip bottoms (uptrend) and rally tops (down trend)
6) utilze stop losses or trailing stops and use profit targets

now personally I like to use the heikin-ashi candle sticks to help smooth out the price action for visual purposes

I like to use the 3 indicators only for confirmation of the trend:

stoch (full, default) = leading indicator
macd(default) = lagging indicator
psar (default) =lagging indicator and good for reversal confirmation

I draw my trend lines from right to left to identify tops and bottoms

voila!!! thats it, pretty simple and its consistent you can back test this strategy if youd like its pretty consistent as you will see...

p.s. when in doubt stay out, if the indicators dont line up right then you got yourself a situation where the current trend is counter to underlying trend, remember the trend is your friend and trust the 4hr candlestick trade with the direction of the candlestick not against it.

good luck, and I'd love some feedback on this!!!

[aegis]

This is a system?

A bit too much is left open for interpretation, don't you think?

Here's mine, and it's even simpler: Buy Low, Sell High

We'll make a billion dollars.

[raging bull]

what do you feel is left open to interpretation??? how can I narrow it down for you??? just trade with the trend.....

[eight10]

Really? all we have to do is trade the trend?


Well if I would have known you could water it down and oversimplify it that much I would be a billionaire already.

Thanks for your valuable advice. I will try this trend trading thing and report back my results.

[raging bull]

well would you like to make it more complicated than what it really is? its easier said than done most people tend to have paralysis by analysis and incorrrectly identify the trend. You could just easily use the 4hr candlestick to trade in that direction and use no indicators at all!!! which I have also done with good success

[raging bull]

so far this week im up over 500 pips this week alone.....

[eight10]

Well im up a million pips!

[raging bull]

great, than you should be on a permanent vacation no???

[eight10]

My point was you making the claim to be up 500 pips in one week doesnt prove anything at all.

Your system is also vague to the point of "When the price goes up, buy, and when its going down sell". If it really truley was that simple we would all be rich, and that simply cannot happen.

[raging bull]

my point simply is to trade off the price action, it is very simple indeed and has brought me a lot of success keeping it simple and I wanted to share my thoughts and experience with others still searching for their own style. Forgive me for the response but your criticism came off a little harsh