Try again now
Ok got it.Once again many Thanks.
Great post! I am interested in learning about the currency pairs that you have been trading.
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Thank you for your excellent posts. Your a kind man. I came here from your London strategy post.
I personally have lost my account and am completely demoralized, but reading your post makes me see the light again 
Can I ask you few questions plz if you dont mind ?
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As your trading daily timeframe, wouldnt the TP and SL also be very high ? Especially those of us who have lost alot, and want to start again with very little of what we have left. Will the daily time frame be good for me ?
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Do you have a telegram or any social media in which you can share some alert of your trades your entering in ? it will be alot of help to us beginners.
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Hi cloudninee,
I hope youāre well. Just getting in touch to see if you could kindly send me the pairs you trade?
Also I would like to know what your approach is to correlating pairs. For example If you had a signal on aud/usd and eur/usd at the same time would you take both?
Thanks
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I have direct messaged you. Thanks.
Hi, thank you for your comment.
It really saddens me to see so many traders out there losing money and their account. Trading is easy and simple but only if you have the right mindset and a strategy/way to trade that suits you best.
I do hope you will be able to get back to it in due course.
Here are my answers to your questions:
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Regarding SL, you have a point however, if you have a much smaller account size, you can sign up for a cent account or something of a similar nature. This means you will be able to trade the bigger timeframe with bigger SL. Keeping in mind with this strategy, the SL sizes are already much smaller compared to many others (as you can see in my examples, SL are often at the high/low or open price of the previous candle). If you are trading $50-$100 risk trade each time, you are fine to use a regular/standard account even. When you are risking a $50 trade on the 5M timeframe and $50 trade on the daily timeframe, there is no difference if you are calculating your lot size properly.
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Unfortunately not, Iām only here to share what I know and Iām not looking to sell anything. Also, my fulltime work and trading keeps me busy enough so unfortunately with a group chat, I wonāt be able to manage it and it will only be a matter of time before gets abandoned.
Hi, thank you for your comment.
As mentioned in my original post, I tend to try to trade the clearest and strongest signals possible based on price action. So if I see an opportunity, Iām taking it. Also if you pick and choose, your strategy may fall apart and you might miss out on some great trades. While trading the 1D timeframe, you donāt really want to be missing out on potential trades as they donāt come around too often.
I will direct message you the pairs I trade. They have been updated now to include a few more.
Hi everyone, I hope you are all well and wishing you all a very Merry Christmas and Happy New Year.
As I have not updated this post for a while, I am doing one now as I have made some recent changes to my strategy.
Also, I have provided below a list of trades I took on the AUDUSD in recent time just as further examples as I notice a few people would like to see how I actually trade with this strategy. I have also upped my trades to $500 risk per trade, this is so to put in perspective for you of what I do and how much I earn every time I win/lose a trade.
Here are a few changes I have made to my strategy in recent times:
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ATR (10) is now being used to calculate/consider when setting SL. My SL will still be either be the high/low or the open price of the previous/signal candlestick UNLESS the ATR is showing a smaller figure, then I will go with the 1 x ATR as my SL.
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Only one position is now opened per trade and TP is trailed according to every one RR. Meaning if a trade gets to 1:1 RR, SL is at breakeven (the trade is now risk-free), if the price gets to 2:1 RR, TP is at 1:1 RR, if the price then gets to 3:1 RR, TP is at 2:1 and so on.
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Trades are now opened at market price instead of a pending order.
Here are the trades I took on the AUDUSD recently:
3rd September 2020 - SELL - 2:1 RR = $1,000 profits
22nd September 2020 - SELL - 1:1 RR = $500 profits
29th September 2020 - BUY - 2:1 RR = $1,000 profits
7th October 2020 - SELL - SL Hit = -$500 loss
29th October 2020 - SELL - SL Hit = -$500 loss
3rd November 2020 - BUY - 7:1 RR = $3,500 profits
OVERALL: 4/6 trades won (66%)
TOTAL P&L: +$5,000 profits
As you can see, I only took 6 trades off the one currency pair in the last 3 months but, I still have managed to make $5,000 in profits from risking $500 per trade. This will put into perspective for you of the earning potential compared to how much to risk while using this strategy.
Of course, I have many other pairs that I also trade using this strategy, but this is just the one pair to show some more examples of my trades that I took.
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Thank you sir for your kind reply.
Can you please explain what was the reason yoj entered these trades and you left other days ?Isnt it supposed to enter everyday ?
Would love if you can also share with me the Currencies pairs you trade with.
Thanks alot for your motivation, am slowly slowly started to learn from you and God willing Iāll restart again.
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Hi,
I mainly trade 2 ways:
- Engulfing pattern on reversal trades when the price reaches the outer bands
- Rejection of the middle of the Bollinger band for a continuation trade
You definitely would not be wanting to enter every day, thatās a big no no. Only trade when an opportunity arise.
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Thanks for the reply. Itās much appreciated. System looks really good and only checking the charts once a day sounds like a dream. Definitely prefer this way of trading. Iām just curious what your criteria for an engulfing candle are? I know this can be pretty subjective but just looking at the last screenshot you shared its not something i would consider engulfing. The doji before was what i would consider a bearish doji and then the engulfing candle didnt close above the high (which is what i would like to see). Just interested to know what you would look for because clearly i would have missed that trade which turned out to be a massive winner for you. Any insight on this would be appreciated. Thanks again for all the effort youāve put in to this!
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Hello Cloud,
Just a couple of questions when you get a chance.
22nd Sept Sell - what was your SL based on? or do you use the mid point band as your SL reference sometimes?
3rd Nov Buy - If you were using 1:1 RR and moving your SL to BE would you have not been taken out a few times before reaching 7:1 RR?
Cheers John
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Can you make a simple video explaining how to enter a trade ?
Hi, thanks for your comment.
You can simply search online for criteria for an engulfing pattern candle, and you are right, there are many things to consider and it can be quite subjective depending on the trader him/herself.
For me personally, every doji candle needs to have a confirmation candle to follow it in the direction of my trade before I place my position. After the doji, the next candle shows long wicks to the downside showing rejection of the bears and it closes strongly (no upper wick). While itād be nice to have a stronger push to the upside, this was enough of an indication for me PERSONALLY to enter this trade, but it might not be for others.
This is how I interpret the market and itās also why I love and use the daily chart. Because the one candle shows the WHOLE marketās trading psychology the previous day.
Regardless, if you missed that opportunity, you can clearly see the trend to the upside is very strong (clear pullpacks towards the middle of the bands and strong push to the upside each time), youād have had 2-3 other chances to get in and still have a nice profitable trade.
I hope that explains it for you 
Hey John,
As per my update post, I now use an ATR (10) to determine/consider when placing my SL. So that trade would have been placed based on the ATRās figure. Thinking back on it it could have been placed a bit tighter for a nicer RR but I guess, would have, should have, could have 
You are right on the trade on 3rd Nov, funnily enough, when it got to 1:1 RR I did not pull my SL up to BE (not overly sure why I think I was away and did not check the trade) and hence I was able to catch the whole trend. Also, when I see clear trends like that (clear higher highs and higher lows, I usually trail my TP based on the tail of the pullbacks.
Regardless, if I was taken out of my position, based on how strong the trend was, Iād have reentered each time the pullback trendline is broken. In fact, I should have added to my positions each time but again, would have, should have could have - haha.
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No Iām sorry, I trade on the daily because I already donāt have enough time to sit in front of the computer all day.
If you have any questions though, I am more than happy to answer them.
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I just wanted to pop in here to say this is an excellent thread and trading strategy.
Many traders assume using a daily chart means long term trades with wide stops that doesnāt suit their limited account equity. But I think most traders would also agree that the daily chart is far more reliable than intraday timeframes.
This strategy not only creates opportunities on an intraday basis with reasonably light, but sensible stops, but is also based on the stronger TA available from daily charts.
In addition, the strategy is not just another brainless mechanical āif this, then thatā robotic trading formula. It requires sensible and knowledgeable input from the trader themselves.
One of the weaknesses with most strategies is that they only work well in the circumstances for which they are designed and then under-perform or even fail in other situations. But the fact that this approach requires reading and interpreting the market action during the entire previous day(s) means that it suits virtually any market whenever it happens to be doing something significant.
This is an approach based on real concrete current market action and demands a skill from the trader in reading it appropriately. Both of these are essential and worthwhile aspects of becoming a trading professional.
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Yes mate that explains it thanks. Its always good to get a different perspective. Thanks a lot
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Hi, thanks for such a nice comment on the thread. Merry Christmas.
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