Here it is folks I have one easy systems that helps me to 300-500 pips a week on average I use candles and 1 indicator to confirm over bought and sold. indicator simple Slow Stoch set at 14-3-3 look for reversal candle such as hammers shooting stars and doji’s some call them exhuastion candles at top or bottom of ranges on the hourly or 4 hour time frames I only use the indicator as a confirmation nothing else I don’t take buy or sell signals off it. I look to play the support and restance ranges on the majors and comdolls and make a great living at it… since Aug 23 I have been playing the EUR/USD range from 1.2600 to 1.2500 up and down looking for the reversal candle and placing stops at top of those candles and playing that range and making a mint. so far 6 trades 5 winners 1 loser when it reversed on me AUG 31 was loser as you can see on the 4 hour chart of EUR?USD. This system is basic and simple yet alot of full-time traders use it to build equity at a steady pace . Sometime you get luck and nial a big trend trade but markets only trend about 20-30% of time so expect the 50- 200 pip range trade on the 1 and 4 hour charts . some pairs more some pairs less but average trade will bank you 50- 200 pips per and most times you can bank 2-3 of those trades per week on each pair study pairs and learn them well and study candle patterns and you bank
I currently have a short at 1.2618 on EUR/USD look at the Hourly and 4 Hour charts and tell me why after you study the charts a hint may be supply zone.
Hi whyme250
What kind of RR ratio do you go for?
Cheers
Hello,
I agree with you although i usually play with the swing trade in catching the trend. I realized that only 30% in forex are the trend. Thanks for your strategy i will test it. Really helpfull bro.
Regards,
Willy
I risk the trigger candle and play the ranges the trades are usually 50-200 pips on the 4 hour charts and I place stop at top of trigger candle this position im in I have a stop at the top of the AUG 31st exhuastion candle which is a hammer at 1.2639-40 and have exit at the 1.2500 so this one is 3-1
I also watch it as im a fulltime trader so if it breaksout and runs my way and i’m still awake then i let profits run to i see a bottoming canle pattern that’s why i tell people to learn and memorize candle sticks and candle patterns we just play the reversal patterns at top and bottom of support and resistence.
very nice indeed, I will check it out thanks
out of curiosity whats your win % ? thanks
ps what time zone you in?
[I have a hit rate of just above 70% and I don’t take just any signal I wait till price stalls at support or resistence then look for a confirming candle and look for my slow Stoch to confirm what i see but you must wait for the exhuastion candles at the end of moves and zoom out to confirm support or resiance areas as well. I trade just like Mr Jon Fox whom started a price action page I didn’t see I think I’ll be posting to that page since his style of trade is alot like minestQUOTE=tsrun;393831]out of curiosity whats your win % ? thanks
ps what time zone you in?[/QUOTE]
I will be shuting this thread down and refering people to mr. Jon Fox’s thread under title Priice action Trading he trades just like I do I just use the Slow Stoch to confirm.