after a long time of struggling following all kinds of indicator setups, i couldnt help thinking “what am i doing excatly?” of course all results wasnt nothing like i expected… none of them… really…
then i went back to the time i actually started off forex from my own perspectivie… and it used to bring me a way better results…
i just tried to see how all these indicators work since its so many out there with so many diffirent logics… someone has to have the right solution right?.. eeehh… wrong…
well i didnt go through bunch of em… but it was easy to realize and seemed clear to me that this isnt for me… isnt for my style of trading, my personality…
Im not against those indicators… im just saying it isnt for someone like me… im sure there are a lot of traders have felt the same way…
plus im still a newbie to forex… so what do i know huh? im sure there are some decent system based on indicators since there are millions out there…
im just done exploring on those…
i trade on pure price action… my chart doesnt include any indicators…not even fib,pivot… just a candlestick chart itself…and thats how i started off trading anyways…
i wouldnt say it was all waistin of time that i spent with indicators… it actually helped me to see markets more clearly now such thing as identifyin S/R.
I made about 10 positions since i came back from indicators and only lost one… good sign right?? most important thing is that now i feel comfortable trading and confident on each trade i make.
I trade on 1hr chart only, using break out and reversal setups(im very picky choosing my reversal spot… these setups have to look almost perfectly obvious.)
and i dont use certain risk and ratio cuz it doesnt just go along with my S/L, i only make S/L based on S/R… it could be 7pips or 30pips, good enough to bring the line down or up to my S/R and of course i look for tight stop, if S/L requires me like 100pips… then i wont even bother to look at it…
i cant say much about my trading system, there are still some stuff im working on making it more consolidated but i wanna say at least i got the basic system frame…
im thinking to give it a month or two and, if it brings me 70-80% winning percentage then i guess its time to finally step into the real game.
Hope this one goes really well and looking foward to share with you once it gets confirmed on live trading…
does anyone have about same strategy as mine???