My Trading Plan

Trading Systems
1

MMJ’s Forex Trading Plan v3.4
my current results using this trading plan -

fx-stat-summary-102720
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Find, Trade, and Exit for ‘Buy\ or Sell’ order(s):

  1. Find potential trade(s): scan Forex symbol(s) watch list via FX Scanner:MT4:D1
  2. Confirm potential trade(s)(1) with Ichimoku Cloud[0-Cloud-Check-Algo:MT4:D1 & H1
  3. Confirm potential trade(s)(2) with technical’s via MarketMilk:H1
  4. Confirm trade type 'buy or sell’ with 1-SR-Algro:MT4:H1 - *
  5. Open new buy or sell order via MT4, add SL & TP - ‘pos_size’ indicator
  6. Exit: monitor open position(s) for close position(s) with 2-Exit-Algo:MT4:M15
  7. Study close-out trade(s)
  8. Repeat

FX Scanner Notes: FYI - If both Pivots\MA are right, ADX can have any value

Buy:

  • ADX = ‘Weak Trend’
  • Pivots = ‘Above S1’
  • MA = ‘up’

Sell:

  • ADX = ‘‘Weak Trend’
  • Pivots = ‘Bellow R1’
  • MA = ‘down’

QQE Notes:

  • Go long when the blue line crosses the yellow line from below while both are below level 50;
  • Go short when the blue line crosses the yellow line from above while both are

above level 50.

Waddah Attar Explosion Notes:

  • Red histogram = downtrend
  • Green histogram = uptrend
  • Sienna line indicates the explosion in price up or down

Signal for ENTER_BUY: All the conditions below have to be met:

  • The green histogram is raising.
  • The green histogram is over the Explosion line.
  • Explosion line is rising.
  • Both the green histogram and Explosion line are over the Dead-Zone line.

Signal for ENTER_SELL: All the conditions below have to be met:

  • The red histogram is raising.
  • The red histogram is over the Explosion line.
  • Explosion line is rising.
  • Both red histogram and Explosion line are over the Dead-Zone line.

Signal for EXIT:

  • BUY: Exit when the green histogram goes under the Explosion line.
  • SELL: Exit when red histogram goes under the Explosion line.

Forex Trading Tips:

  • *Trade with retail traders: if price breaks ‘Support or Resistance’ level
  • *Trade with the 'banks’: if price is within ‘Support and Resistance’ level
  • Trading Hours: any open session
  • Trading Style: scalping, day trading, or swing
  • 5 max open trades = 3 [max intraday\scalping trades] + 2 [max swing trades]
  • Trend Finder Time Frame = mt4[d1]
  • Leverage: 50:1
  • Pairs to trade: see tha12.txt file
  • No ‘buy\sell’ position while in the cloud
  • 1.5 x ATR = Stop Loss
  • Risk only 2%\position
  • Stop trading when weekly profit = $3500
  • Trends are usually noted by “higher highs” and “higher lows” in an uptrend and “lower
  • highs” and “lower lows” in a downtrend.

MT4 Chart Indicators:

  • ATR from ‘pos_size’ indicator
  • Ichimoku Cloud
  • Waddah Attar Explosion
  • Support & Resistance
  • Qualitative Quantitative Estimation
  • Real-Time Price Action

FX Pairs on Watchlist:

  • AUDCHF
  • CADCHF
  • CADJPY
  • EURAUD
  • EURCAD
  • EURSGD
  • EURUSD
  • GBPJPY
  • GBPUSD
  • NZDCHF
  • SGDJPY
  • USDCHF
  • USDJPY
  • BTCUSD
  • GOLD
5 Likes
2

I’ll be watching with interest mate.

3

Very detailed post about your strategy! :blush: I wish you all the best! And I’ll also be visiting to cheer you on. :blush:

1 Like