I think this many of us rookies have this problem without realising it.
Hi i am going to give this a try, thanks for the Share. Is it a EMA OR SMA you are using ?
looks very interesting. thank you and much appreciate the reply. will give it a try although I prefer the 50 MA to the combined use of the 14 and 7 MAs. personality in expression. happy weekend.
I understand. I tend to to have a set of trading rules I am still working on. Those 2 are just several decision makers. Have a Great Week and be safe.
Last week I took 3 accounts
averaging $250 and took them to $650 to $700 in 3 days. I cash out
when the accounts are in profit over $100 and then just open same trades over againstrong text
I wanted to update how my accounts were doing. After making $1180 in 3 days with my accounts starting in June and then opening them again in same place was a Mistake. I have had a deep draw drawn.
What I have learned is to use my Indicators. The 14/7 MA crossover, MACD, 50 Moving Average. Only close out the trades I need to. Stick to a Daily PIP Goal. Use the 2% compounding UOP chart which can be found on Youtube.
By taking my time and closing and opening trades slowly I am Averaging 200 Pips a Day. With my Proof Profit Strategy trading same direction as Weekly, Daily & 4 Hour Charts with multiple pairs no SL open .01 you can take Pips daily. As always DEMO first. Try with at $400 account with 15-20 pairs open no stop loss . Do not use exotic’s , metals, indices , or energy.
Update On statistics on my accounts on last few days. The 3 three accounts are growing nicely. 6/25 145 pips 6/26 381 pips and today 6/29/2020 145 pips. I continue to trade in the direction of Weekly and Daily Trend with Multiple pairs trading. I closing at or above 50 pips per account and opening other trades as opportunities present themselves. Lot size .01 using no stop losses average draw draw down per account about 1200. As of today average 3 account sizes $450.
Am I crazy or a Geniuses
That’s Why It’s called My Proof Profit Strategy
… As Always Demo First…
…I STILL DO !!!
UPDATE: My Accountability Partner/Coach has strongly advised to start using S/l and T/P which I started doing. I started to modify each trade today.
Took bigger profit but closed out less trades than I wanted. Supposed to be Trend trading on Weekly and Day Chart Anyway. Hard to be patient but just on one trade you can close out 1000 pips. He Who Controls the Mind Can Control His Account.
Hi Tabuislee, thank you for this thread. It all seems very positive and I am keen to learn more from this. I have been trying to look for it in this thread where you actually explain how you would enter a trade but I can’t really seem to be albe to find it? Would you mind please pointing me in the right direction and/or let me in on a bit more details on how you actually trade. Thank you.
Wow, I can see the results already. But I need more details.
Here is the thread
The main thing to know is most everyone and I mean everyone including me Over leave-rages their account. The safest way to trade is use .01 lot size and trade direction Weekly/Day Trend.
That’s why I put a screen shot of a $250 demo account that profited over $450 in less than a month on just .01 leverage.
I have and continue to run on different brokers ( just demo’s) 100’s of demo’s going to spam email address’s that I continue to study.
They are coming I am refining my strategy as I go along. There is a Kindle Book called Trading The Trends by Fred McAllen that has a Chart that really explains one of the reasons I trade the Weekly/Day Chart same direction.
I always put these two together because after looking at all my demo’s after awhile I found that these did the best. When I was a new trader I did not understand why trades would go deep in drawdown and I would close them out. Now I just know it’s a process. With my Strategy I have my Accounts grow daily, I am worry free for the first time and I finally found something that’s working.
That’s why I finally decided to share here on Babypips
My Proof Profit Strategy
Like to say I no longer take out all my daily Profit it caused to much of a draw down. As a long time trader. The hardest thing is having patience.
Just try to grow your account slowly 2% compounded starting with a $500 account is over $1 Million in a Year. Go slow , start with the .01 size. Do not watch want others are doing with those big leverages. Have a daily pip goal and use the 2% compounding Exel sheet daily found on Youtube. Any questions ask me. Only open trades going in same direction as Weekly/Daily direction. Then you you can trade the 1 hour chart. If they reverse on you so what
So far this week I have managed 222 Pips and have Grown my Accounts my 3%. I keep a daily written journal of my Goals for the day as far as how I want to trade, where I want to enter a trade and where to exit. Enjoy the Process.
… You are Trading The Trend
My Proof Profit Strategy
What do you do when the weekly trend is down but the daily is up; or vice versa? Do you wait out the week for that pair until they align again? An example might be USD/CAD.
If your just starting out I would suggest going with the pairs that are Trending same direction for example if you look USDCHF are Both a Buy.
The Weekly and Daily Chart have both pairs currently Shorting.
Now here is the entire KEY too the Whole Strategy WAIT (be patient for the H1 chart to Cross Over into a Sell on the 14/7 Moving Average and Your Golden. Even if their is a pull back 1) Your Trading the direction of the Trend 2) You have H4 Chart and still Day chart and the weekly Chart.
As long as you use .01 leverage, start your trade toward the beginning of the trend and not the end your Golden.
On a $500 account … .01 I have had 25 trades going at a time. With this strategy you should have around 10 trades going at a times. Opening and closing a few trades a week and making at least 500 pips a week.
I am going to start next week a Demo called PPS-BABYPIPS you can follow.
My Proof Profit Strategy
Hey Tabiuslee, thank you for your kind response.
I’m still a bit hazy in terms of how do you pull the trigger to enter a trade? I am clear that you are using the MA of 50, 7 and 14 and only trade those pairs that are moving in the same direction in both the DAILY and the WEEKLY timeframe.
But how and when do you enter and exit a trade? I notice you don’t use SL, that’s fair enough, each to their own. But how about TP?
Appreciate your reply to this and thank you.
Hello, do you trade the reversal if they are at the level of overbought or selling on the daily and weekly timeframe, or do you go with them in the same direction for example, enter a purchase and if the spouses are in overbought, for example, I hope for a reply and thank you!
My Proof Profit Strategy is Trading in same direction as weekly/daily charts.
Lets say for example Your trading GBPCHF which as of 7/1/2020 the Weekly
and Daily are going same Direction Bullish. The 4 Hour 14/7 MA Cross gives you your Entry you can Draw your Entry Line There, your Stop Loss
accordingly and Take Profit.
Now the other Chart gives you your Perfect Entry if you have even more patience. According to the rules of the 50 Moving Average line either trade above (bullish) or below (Bearish) and Notice using the (((Free Tipu MACD indicator one of the number 5 top free indicator downloads for June last month)))) we had a UP Arrow For BUY and also the other Free Indicator on Metatrader4 Ipanel Trend we had Strong Buy Indicator.
So with Trading with the direction of the trend, using Directional Indicators and a little bit of patience you can catch pips most days.
As far as No Stop Loss… I have a Accountability Partner/Coach and
I have started using S/L and T/P
On the Chart I drew the Entry line and the TP line for you. It’s better to either draw another line for TP 2 further above 50 or make that your TP 1
as always DEMO first.
Hope this helps play around with it on a Demo any more Questions feel free to ask,
My Proof Profit Strategy
Thank you so much for this. I might look into this a bit further. All looks very interesting and yes, the trend is your friend so your approach here definitely is something with massive potential.
Any recommendation in terms of where to put SL and potential target TP?
I think I know what you are asking and the answer is yes. For Example USDCHF Weekly and Daily Charts are Both LONG. Currently though both Weekly/Daily are both in a reversal (SHORT). Therefore I trade only charts opportunities where 2 charts in a Row are Short. I perfer myself H1 and H4 but the M30 and H1 will suffice. Currently right now only H1 is trending down. The reason on my system I wont take this trade is ,it’s too risky.
If I miss it for some reason I am going against the Trend, remember, even though the weekly/Daily are shorting We are still going with the Trend which is Long. We don’t want to get stuck with a trade or getting stopped out if we don’t have too.
H1 is Short and H4 is Long and Trades dont always go the way you want them too.
The Trend Will Always be Your Friend. Double That Trading The daily Weekly Trend.
The Proof Profit Strategy
I really like the way to start working on trading before you actually get into it. The data you shared is really impressive. Will look forward for more updates.