All we have specific trading indicators that we use to bring profit but there is no indicator which works 100%. How many pips you can earn by your trading indicators it competently depends on your money managing approach. So, try to ensure 100% money management approach.
Thank you very much. Very good and simple example. I can understand very easily.
In a nutshell, I look at the weekly chart, I place support and resistance on the weekly chart, switch to the daily and plot any that stare out at me, I don’t look for them. These will be the highest probability for reversal or trend continuation. Then when I see one of those levels being hit, I will then place my stop loss above/below that candle, and put in a pending order at the level that gives enough profit. I risk the same amount on each trade, so my lot size will be double what it is when it’s 10 pips away from stop compared to 20.
That’s it really, I will split the trade, and close half when I’ve got some profit. Targets are the support and resistance lines.
Sometimes I have no idea if the market will go in my direction or not, but what I know is that if it does I aiming for over 3 to 1 profit or more.
I made 50% profit on my account this week, it’s a small amount, and I don’t claim to be a mega trader or anything, but it does prove that it’s possible to make a lot of money using the longer timeframe charts, and you can get tight stops that allow that.
Most of all it’s easy, I’m pretty sure it will work long term, I don’t see why not, the whole thing is designed to keep the most undisciplined trader like me out of those undisciplined trades.
To me 50% in a week sounds a huge amount.
Please keep posting: we can all learn a lot from you.
Thanks, Corbie. If you made 50% profit in a week, then your strategy is definitely one you should stick with and keep implementing with your trades.
Pigs bum. 50% in one week at this level means over use of leverage and or over trading. Both will blow up your account sooner rather than later. Go back to the junior league son, when you grow up you can come play with the big boys.
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50% is a huge percentage, unfortunately a small amount of money though 
It’s off of one trade, and my stake was 10%, so a ‘bit’ on the high side for ‘real trading’.
This is the trade…
AUDUSD, weekly support and resistance chart.
You can clearly see it’s a significant level.
Then on the daily chart you can see that you can get in close to that level with tight stops.
Sometimes the market doesn’t come back close to the level, in which case I’m not bothered, I can’t put enough lots on to make a decent profit, better to wait for another. When it does, then great, you need big profits on your winning trades, and using only the levels on your weekly chart keeps you out of more losers.
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I think I need more workout in understanding the chart. And about the market direction, it’s really tough.
It is very true that finding the right or perfect broker here is the very tough task to do. But I think you should mention what kind of trading platform and tools, spreads, the leverage you expect from the broker. Also, what you have to deposit!
Yes, I also like moving average! It shows dynamic S/R levels.
What nonsense.
S/R levels are formed by (and clearly shown by) price movements, not by indicator movements.
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Indeed, but it’s staggering how many people seem to have difficulty grasping (or accepting) this fundamental truth.
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Lol
I think they’ve invented the term “dynamic S/R levels” to try to justify their twisted beliefs, too! 
Yes I know price movements are the key, but EMA20 helps me to purify the market trend with the horizontal lines in my D1 trading chart.
Thanks, for the clarification. S/R levels are formed by price movements, not by indicator movements.
There are so many truths revealing one by one when we ask questions here.
In order to me, traders should choose the broker which is more appropriate to the concept of trading that will be used , if you love doing scalping of course should choose the broker which allows trading concept such as this. otherwise trading life could fall a great trouble.
But I heard that regulated broker do not allow scalping. But, this is true that scalping is best for the novice trader to earn a profit. All the things here are contradictory.
Actually, scalping is the worst possible way for a novice to earn a profit.
Scalping requires all the same skills as other forms of trading, but requires that you execute those skills in a compressed time-frame. In addition, your transaction costs are higher (more trades, smaller movements), so you need to be even better at scalping than you would need to be in another form of trading in order to be equally as profitable.
The only reason to scalp is because it is most suited to your personal circumstances or your psychology. And neither of those things changes the fact that you will have to outperform other traders for the same profit.
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