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.
TabiusLee
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.
You say from your words that your business strategy is directional trading, not a reversal even if it is overbought or sold
I hope this answers your question my whole Strategy is trading on the Directional Strength Combined of Daily/Weekly and Even Monthly Chart if they are all going in same direction.
Every pair is going to get oversold and change direction however just make sure you IF you take Your Pips and change direction do it at the right entry point,
This a Day chart Trending Long. Notice a couple a few it changes direction meaning the lower times frames were Oversold like you mentioned.
Last Year on One account I just trades EUROUSD on Day Chart and bought and sold Long and Short but I like my Strategy I use better now.
Here are My Trades For July 2020
Tabiuslee
My Proof Profit Strategy
Hi Tabiuslee,
You mentioned USDCHF is LONG both on Weekly and Daily. Did you mean SHORT? I’m trying to understand what you see when you say a pair is trending up or down.
To Answer your Question there are better charts out there Color Coded that lets you know Change of Direction you can them Free on Metatrader 4 for free I believe Color Fibonacci Retracement . I paid version from a company that when I was new I paid $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
which I did not know better at the time. Stupid . I did not know about Babypips and their Awesome education.
!
If you notice on the chart the DOT is called a (Color Fibonacci Retracement) change of Chart Direction. The Arrows on this particular Indicators lets say for example on Day Chart Trends UP then reversals down.
Its hard to tell on what you sent me but that is exactly what the Pair is doing just Hard to read.
Tabiuslee
My Proof Profit Strategy
10 trades for a beginner is a lot. I think 10 trades at a time is for experienced traders. Perhaps, for me it’s best to start with just two trades, get comfortable managing that, then slowly start increasing the # of trades.
Especially if you don’t have TP. For me, it would be a disaster.
Just open a Demo account $500 using No Stop Loss.After erase it from your mind and check on it in September or October. You will be shocked !!!
These Pairs I have set up are Mostly Trending Daily,Weekly and Monthly Chart.
In August though it will be up by least $200 if not more.
TabiuLee
My Proof Profit Strategy
Hi @tabiuslee
Hope you’re doing great this weekend.
Please can you throw more light on the highlighted reply?
Thanks!
Joseph.
Notice this chart
This Chart has all three Indicators 14/7 red and Yellow MA entry 2nd candle below cross, 50 Blue MA which also puts it below the the 2nd candle and the Tipu MACD( free indicator on metatrader 4 platform has the Entry Arrow)
I can’t explain it better than that. As far as Exit.
Exit:
You can either Exit early and take your Pips and if you hit your daily or Weekly Goal or ride it down when it starts to reverse.
Now you know . All Three of those Entry points don’t happen all the time but at least follow the 14/7 rule and look for the others.
Look for my Demo Thread and you can follow those trades all month long these are what I am strictly following this month.
TabiusLee
My Proof Profit Strategy
This is pretty much the opposite of what you stated in the original post. If we are following the trend, shouldn’t that be a sell trade ??
You also mentioned USDCHF in a previous example and everything on the chart points to a downward trend on the Weekly and Daily yet you stated Buy. Can you explain please.
The Daily/Weekly Chart Buy at the time you look at it may be in a reversal. The Colored chart you see is called a Fibananchicoloring Indicator Chart.
Not going to lie I can’t really understand all those colors it hurts my eyes. I’m guessing the entry is given to you by the arrow.
It seems simple since it’s an MA but just like any other indicator it’ll never work 100% of the time. What do you do when a trade goes against you since you don’t use SL? That’s all fine and dandy until you run into a Brexit like situation where a pair drops 1,000. The good thing is you’re only going for 0.01 lot so even at that you’d be only losing $100. This strategy relies on the position size being small enough where it’ll generate pips over the month and if it goes against you it won’t be catastrophic as well. It’s a balancing act it seems.
As long as it works for you I can’t really say anything honestly.
Trading Direction Monthly/Weekly/Daily this Month after doing demo’s for a year. As far a Brex well nothing is 100%
Tabius Lee
My Almost Proof Profit Stategy
Thank you for your reply.
@tabiuslee thank you so much for the reply I truly appreciate.
I now understand how the 7/14 cross works with the MACD.
Still not well clear with how the 50 MA contributed.
Joseph
It’s just a extra indicator I use. You don’t need it. I just use all three to see where each are lining up. Some days the market is all screwy and I just want to see if everything is lining up in place. Does not have to perfect.
TabiusLee
My Proof Profit Strategy
On My Own Weekly/Day Trending Account 7/7/2020 (LIVE ACCOUNT) No Stop Loss
The Account I hold Trades and just trade Daily Chart
Account $509.59
Equity $329.40
Free Margin 276.40
Margin Level 620.40 %
1:200 Leverage FX Choice Classic
Have a Trading Plan, Be Patient, and Stick too to it.
I trade with confidence because I started out Live trading with $100 and have continued to do Demo’s for the Last 3 Year’s.
NOTE: on other 2 Accounts I did Close the Day with 163 Pips and Grow Forex Accounts Overall by 4%
I showed the one Account today because as a New Trader you can be so Impatient for Profit, so Upset because Account is in Drawdown , when trading the Trend and finding a Broker with decent leverage allows you Breathing Room and less stress.
TabiusLee
My Proof Profit Strategy
trading daily chart
