Money Management
I selected the aggressive entry approach to take a risk on the Weekly H (2) on my personal account. I will utilize the SEC UNC MS as the TT level under the condition that price will directly retrace the Weekly H (2)
See in detail the parameters of the trade on the position size calculation below
I identified as FCL the cluster of UNC MR and UNC WR at 10.2900ish
The exit plan will be based on DE0P due to the adequate initial reward to risk ratio of 0.86 which is higher than my expectancy ratio of 0.74
Since I will trade aggressively an unconfirmed PA setup, I have also determined as aggressive stop loss the 9.9800 level. I will manually trigger the aggressive stop loss according to the price action on the Daily time-frame around the TT level and the VBRN 10.0000 (see the second chart below)
Trades Results of 2013
Total Trades: 14
Win trades: 8
Break-even trades: 5
Lost trades: 1
Net profit: 1906 euros
Weekly SS (2) is the controlling candle. We marked the confluence of MML and BRN 1.35 to monitor price action.
Do your homework on this pair using all SPA trading tools. Pay attention to the evaluation of the Monthly resistance levels above in comparison with the Monthly support levels below. Watch price action at the range marked in green.
SPA and Evolutionary Critical Thinking
When the time comes to go live, we will always cheer those SPA traders that have been skeptical enough to question some of the concepts being taught. We admit that teaching SPA (or teaching anything, in general) is almost like brainwashing, simply because the approach used employs well documented brainwashing techniques and also because students generally trust the educator. Schools do the same.
The essential difference between what most of the online trading forums usually do compared to what we want to offer in this online trading community is that we are always trying to accompany our “teachings” with tangible results. This is a vital difference to the general “brainwashing” purpose which is to form beliefs with no support by evidence.
We appeal to evidence that supports our method. We will only introduce arguments or evidence that support the currently accepted SPA concepts, while carefully examining any evidence to the contrary. We might shortly mention alternative methods; introducing them only in order to promptly demolish them, again by appealing to evidence.
Of course we do all this with the best of intentions and complete sincerity, simply because it is accompanied with tangible results which are reflected in our track record. We prefer to create critical thinkers that know how to tell the difference between pointless belief forming propaganda Vs evidence based learning. The best we can hope for is to enable SPA traders to be in a position to detect for themselves whether a trading system or methodology actually works or whether it is part of intellectual coercion and scams.
I can’t see your pics , Mike. Any chance of uploading them to photobucket or similar site?
Can you explain me how…
Just get an account at imgur or photobucket and upload pictures there and then drop their links here. cheers
