I am a newbie and came across someone here that posted about a Butterfly strategy. I had the good fortune to get in touch with him before he got banned from here something I found hard to understand.
In any case I got him to teach me his strategy for free and have been making money ever since.
Here is yesterday’s statement of my trading the Butterfly
Are you taking bullish butterfly’s at the bottom of a descending channel, as long as it is the second harmonic butterfly?
Then, taking bearish butterfly’s at the top of ascending channels, as long as it is the second harmonic butterfly?
Enhancers:
Strong angle leading into X
Maybe an indiciator like stochastic
Trading on the m5 or m1.
Am I in the vicinity?
I don’t have the time to pull up my chart to draw in the harmonics at the price you traded from. But will do so tomorrow b/c I’m curious.
I am trading the Butterfly Strategy. Don’t ask me to explain how it works because I don’t really know and it seems no one is willing to explain it. There is a lot of information on it on google though. I just wish I can understand it. I only know it works…and very well at that