I already said hi here but a quick introduction might be good.
I’m a full-time trader, trading from home for the past 5 years now.
I have developed my own trading strategy that I call DragonShot. The name comes from the “Dragon” moving average band that forms the core of the system.
It’s one of the most successful trend-following systems I know of. It’s based on statistical analysis, identifying only the highest probability continuation patterns in trending markets. I use a multi-timeframe approach, identifying trend and momentum on higher timeframes and finding the perfect place on lower timeframes to join the ride.
With it being a trend-following system I use it to identify 3 types of trades:
- Big target trend trades
- Small target trend trades
- Range trades
Range trades?! That’s right. I actually use it in all market conditions because it adapts dynamically to whatever is going on in the market in any given moment. Therefore I know when to expect ranging days and I trade it appropriately. I’ll expand more on this with examples later.
For all data I’ll ever present here, know that I use a rolling 2-year data set. That simply means I have a trading journal with thousands of trades logged over many years. And when I mention a specific statistic it is based on the past 2 years of data from the time of writing, therefore rolling 2-year period.
By the way, this also helps me stay on top of changing markets. Sometimes the results of the 3 setups change where the edge goes a little up or down depending on fundamental changes in market participation, volatility and predictability - the current Coronavirus epidemic being a prime example. This helps me to immediately see when I should adjust my risk on one or more of the types of trades. In volatile markets I increase my risk on the trending trades, while I decrease risk on them during non-volatile and indecisive markets and then increase my risk on the ranging trades.
Here are some of DragonShot’s statistics for number 1, the big target trades, if your a stats geek like me
Win rate: 84.21%
Profit factor: 7.33
Average trades per month: 8
I think that’s it for introductions. Let me show you the trades we took this past week.
- YES, I have a paid for trade signaling service. If that’s something that interests you, contact me via my website or TradingView but please keep it off of this site. Babypips is not the place for commercial content, so let’s not bring it up again please.
- NO, I don’t plan on explaining my system or selling my system anytime in the near future.
Rather, I provide:
- For you to look over my shoulder while I trade.
- Insights into the way I look and think about the market and trading in general.
- Risk and money management.
- Active trade management.
- Transparency for all my trades, including profits and losses.
- Alerts of myself entering trades that you can use as confirmation for the same kind of trade you were thinking of taking.
If that doesn’t interest you, you shouldn’t read any further.
If it does, it’s because you are serious about trading and understand that the system is only part of greater success. The holy grail is YOU, not your system.