Strategy Playbook

Beginner Questions
1

I was wondering if anyone out there could make suggestions for a strategy playbook that I could trade with.

Currently, I trade using supply and demand techniques. I find a probable zone, I like there to be a gap in the impulsive move and a break of structure, I only trade with the trend and so if there is a change of character I do not take the setup. This has been good for finding 1:1 trades, but I seldom find anything higher than that.

I also use a break and retest technique where I draw higher timeframe support and resistance zones, then I draw lower timeframe minor support and resistance zones, then wait for a break and retest of these and trade until the next zone. I have had less success with this strategy, most of the time my stoploss is very large because I have been stopped out many times when there was a retest that kept coming back into the range.

I would like to continue to work on these strategies until I perfect them, is there another strategy someone can suggest I add to my playbook that has a high success rate and achieves high risk to reward. I would like to be trading with 3-4 setups in my playbook.

Thank you!

2

I think you’ve summed up the pros and cons of trend-following and break-out trading quite correctly - trend-following has a high win rate but low r:r and break-outs have a high r:r but low win rate.

On the macro scale, I’m not sure there are other set-ups which are sufficiently different to these to get you an additional edge. Maybe the extra advantage will come from selection of the most favourable target market, or from refinement of exit tactics - I’d recommend combining this with pyramiding.