To be very frank and truthful, I do not understand at all how the strategy works. I only know it works and I follow exactly what I am supposed to do.
You can google Butterfly Strategy and there are many explanations there. I have read it all and I am still totally confused.
I am sure there are senior members here that understand it very well, maybe they can shed some light.
This is the results so far for today. I have booked already a profit of $13. Understand though that my account is just $70.
I was told that I am mad to try and trade forex with just $70 but that was what I was willing to risk
Sam153
March 27, 2014, 5:53am
8
hmmm, care to shaee thev’butterfly strategy’ ?
Took a quick profit here so I can go off for the weekend.
This makes it a 5 day winning streak.
We have had constant winners everyday of the week…
Will this continue indefinitely… watching the Butterfly work I would say very likely YES
First trade taken for the day…first profit for the week
Can I guess - ?
Are you taking bullish butterfly’s at the bottom of a descending channel, as long as it is the second harmonic butterfly?
Enhancers:
Trading on the m5 or m1.
Am I in the vicinity?
I don’t have the time to pull up my chart to draw in the harmonics at the price you traded from. But will do so tomorrow b/c I’m curious.
Wow…that is extremely complicated and totally out of my league.
You are the one that can explain how it all gets done.
Me I just follow the instructions and take profits when told to do so
When you use the term Butterfly, you are referring to harmonic butterfly’s - right?
If ascending and descending channels are “out of your league”…I think I already know the answer to my question lol.
No I am not referring to harmonic butterfly.
I have no idea what that is.
Just do a google search for butterfly strategy and you will find lots of information on it.
Good that you know exactly what it is…maybe you can explain it in a manner I can understand then
I just had a look at google for harmonic butterfly and had an interesting read.
We are obviously talking about a completely different method of trading.
The Butterfly Strategy being used here does not make use of any charts nor the use of any indicators.
It is just a mathematical mechanical method. Simple arithmetics. Effective money and profit generator but simple arithmetics anyway.
Another trade. Another profit
Burn92
March 30, 2014, 11:33pm
20
Bro, mind sharing with us how you trading these profitable trades?
I am trading the Butterfly Strategy. Don’t ask me to explain how it works because I don’t really know and it seems no one is willing to explain it. There is a lot of information on it on google though. I just wish I can understand it. I only know it works…and very well at that
There is another trade setting up. Once I can get to set it up I will trade it and when the profits comes I will book it then I will post it
Ok…had the set up…Traded it…Booked the profit…now I post.
I trade…I book…I post !!!
Another trade…another profit.
I trade… I book…I post
Another trade yet another profit. $12
I trade…I book…I post
Another trip and another profit…this time $2 and the day has not ended yet.
I trade…I book…I post
Another trade…another profit… $24 or 24 pips
I trade…I book…I post.
Another trade…another win 3 pips…$3
I trade…I win…I post
How are you making trades if you don’t know “how” the method works?
Butterfly spreads is an options trading tactic which is quite involved and not suited for a newer trader.
