Years ago when I retired I was looking for something to do. I attended a free local presentation about trading FX. My mind said “We can do that and make money too… from the recliner”… so the torture began as happens to all newbies…
I bought one sure fire program for $2,300… saving $1,700 off the normal $4,000 price. Man… I’m on my way I thought. It was so difficult to understand and trade that I never made a dime… in fact I lost most of the time. When I called the company it was all Greek to me… I thought a lot of good that 19 years of education is doing.
I said this is BS and went on to other systems. I switched to Demo trading for several years while studying old charts. What made them tick? Every method had quite a few rules, indicators…on & on.
I finally got fed up with them all… remembering the thoughts years before of “I can do this”. Then why was I getting my butt kicked on a regular basis… so frustrating.
I wanted a method that was simple, worked on all timeframes, simple rules, few indicators… that when looking at my simple chart it just shouted out what I needed to do and developed a method that is 70-80%+ wins for me on a regular basis. It took over 2 years to develop this method. I worked hard… late nights and weekends, too. I was so hungry for success.
I hate trading 5min-15min-30min charts. Why? You have to monitor each trade from beginning to end and hope and pray you made a correct entry. I only trade 1hr charts during the 1st 3 hours of the USA OPEN and 4hr trades at night. I check for set ups at 10pm Pacific (7am), 2am (11am) and close all 4 hour trades by 6am (3pm) Pacific… You ever woke in the morning popping on your pc and find you made 150 pips while you slept… guaranteed to put a smile on your face and a skip in your step.
I post a lot of training charts to drive it into your brains what to look for and how easy it can be… Just open your eyes, brain and pay attention and you’ll be making pips soon…
You’ll learn down the road that most of the stuff you have learned in the past is crap. I did. The list of rules in most methods will keep most dizzy… never building confidence… without confidence in your entries and exits you have nothing worthwhile.
The key to this method is the Traders Dynamic Index indicator for entries and exits. I also use a Stochastics (8,3,3) indicator. It is ONLY used to confirm direction. Nothing else.
We only use Heiken Ashi candles… that’s important.
Entries and exits…
We Enter a trade when green crosses red on the TDI at the beginning of that candle… If it’s candle 3 or more don’t enter… find another trade set up. The only exception is if green bounces off red and continues… it’s ok to re-enter on the bounce…
Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal.
If you add other things it will influence your decisions… usually to your detriment. Don’t try to complicate it thinking it can’t be this easy.
The key to building confidence is to study old charts… look at the TDI moves and how it looks on PA so every time you see that same set up you will know your odds for success are high.
Here is a training chart… yes, yes, yes there are many trades on it but look at the TDI Blue boxes.
A Normal entry is when green crosses red on the TDI (and you can actually see the green on the other side).
A bounce trade is when green gets close to red but bounces away and the original trade continues are good entries generally.
I always look to the left for a possible res/sup level being near. If it’s close I pass on the trade and go find another…
