Welcome Petefader,
you are absolutely right, this is the simplest method… you can read about the S/R everywhere, that’s why i don’t try to explain about my strategy. The S/R levels are so obvious, but a very few of traders can make money by them. You need a lot of experinece to use them. That’s why a post my charts, i hope everybody can make trading experience by my charts…
Time will come when new traders will understand how the S/R levels working…
So answer your question, yes, there is something else: THE EXPERIENCE!!!
Looking for short GBP/CHF 1.4840-1.4870…
SL ~30 pip
For best visualitation I marked the entry and exit by a blue triangle… Give us ~22 pips
Weekly report:
CHF/JPY long: +60 pip (SL:30pip)
USDJPY/ short: -20 pip (SL: 20 pip)
USD/CHF short: + 40 pip (SL: 20 pip)
AUD/JPY short + 22 pip (SL: 25 pip)
GBP/CHF short: + 60 pip (SL: 30 pip)
SUM: +162 pip
Very great week!!!
(just for fun, to calculate: if you risk on every trade 1% of your amount:
CHF/JPY long: +60 pip (SL:30pip-1%) WIN 2%
USDJPY/ short: -20 pip (SL: 20 pip) LOST 1%
USD/CHF short: + 40 pip (SL: 20 pip) WIN 2%
AUD/JPY short + 22 pip (SL: 25 pip) WIN 0.9%
GBP/CHF short: + 60 pip (SL: 30 pip) WIN 2 %
SUMMA: you won 5.9% in one week. DON’T FORGET, IT WAS A SUCCESSFUL WEEK, DON’T WAIT THIS RESULT IN EVERY WEEK, because you will disappoint!!!)
have a nice weekend!
I have calculated with the 2. target point… Of course, if you are better you can earn more money if you let your profit growing. I ask you please scroll back the forum and the charts, and visit the trades again and again… I always post the zones BEFORE THE PRICE GO THERE, where the highest probablity to make a winning trade… If you want to LEARN, train your brain!!!
Don’t get me wrong!! These not about the the pips, it’s about to recognize the opportunies!!!
You have to know thes was a lucky week!!! Not every week is so great, but we don’t need them. We don’t have to become rich in a month… we have to make money consequently.
Looking for short on EUR/GBP 0.8350-0.8360…
SL: ~10 pips
Looking for long on AUD/USD 0.9001-0.8981…
SL: ~20 pips
This ZONE has been inactivated…
Looking for long trade on USD/JPY 102.65-102.90…
SL: ~ 25 pips
Looking for long trade on AUD/CAD 0.9935-0.9965…
SL: ~30 pips
Hi traderprof!
Great thread,
I have some questions,
I see that you trade from the 15m timeframe,
From what timeframe do you draw the s/r zones?(i guess a higher tf?)
Btw how is the 15m chart trading time consuming? I mean do you spend much time in front of the screen or do you handle it in another way?
Also are you looking for a reversal pattern on these s/r? Or just wait for the price to get there
Cheers,
Yoel
It was a loosing trade…
(Chart: the green was the zone,
Blue line: i opened the position that price
Black triangel: opened the position based on that candle.)
NO TRADE!
In the marked zone there wasn’t opportunity to enter the trade. The blue lines means, i want to enter the trade that price level. The price didn’t were there, so i didn’t enter.
Weekly report (2014. 03. 10-2014. 03. 14) :
AUD/USD: NO TRADE.
AUD/CAD: +60pip (SL~ 30pips)
USD/JPY: -25 pip (SL~25 pips)
TOTAL: + 35 pips this week.
If you risk 1% of your capital in every trade:
AUD/CAD: +60pip (SL~ 30pips) => +2%
USD/JPY: -25 pip (SL~25 pips) => - 1%
TOTAL: +1 % on this week.
Have a nice weekend!
Lookin for long on AUD/USD 0.9015-0.9040…
SL: ~25 pips
Looking for long on NZD/USD 0.8505-0.8540…
SL: ~35 pips