MONEY MAKING manual trading system - page 42
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Saiman, your system has something to do with that darkonix? thanks
OK. Here is a very sound strategy. DON'T try to change it. DON'T add anything to it. DON'T take anything away from it.
Forget EAs. They are for lazy people who can't be bothered to learn how to trade.
Forget backtesting.
Just forward test on demo, or even on paper. 30 trades with a decent strike rate would mean a strategy is worth putting real money behind it.
Here's how I trade it - VERY successfully.
Indicators etc exactly as Darkonix says. EURUSD only.
I start to look for entries at 7:00am UK time - when Frankfurt opens.
Trade 4 lots (or minis or micros).
NO STOP LOSS. This is controversial, but trust me, the professionals rarely place a stop in the market. But you need to be able to check your screen every 15 minutes.
Close 2 lots at +30 pips.
Close 1 lot at +60 pips.
Close final lot when nonlag changes colour.
Exit completely when nonlag changes colour if trade is a loser.
You will find the above money/trade management will provide you with consistent winners and your losers will generally be very small.
Don't think. Just trade.
Today's trade.
Entered long at start of 8:00am candle (UK time).
Got 30 pips on 2 lots.
60 pips on 1 lot.
8 pips on final lot at final exit when nonlag ma changed colour.
Don't overcomplicate stuff.................. this works...............................
Today's trade.
Entered long at start of 8:00am candle (UK time).
Got 30 pips on 2 lots.
60 pips on 1 lot.
8 pips on final lot at final exit when nonlag ma changed colour.
Don't overcomplicate stuff.................. this works...............................
[lang=es]realmente para que sirve el lector de noticias ?[/lang]
My Statment
My Statment of 5.08-26.8.2011
statement_4.rar
what did you do ?
how did you choose the timing and the pairs ?
A very good system
First of all, I would like to say "Thank You" to Darkonix for sharing this manual trading system.
It is a pity that Darkonix is no longer posting in this thread.
In my point of view, this is the best trading system that I have tried and it is profitable.
Just follow the rules as it is and there is nothing more to modify.
GT3RS - thanks for sharing your method of trading with 4 lots and taking profits at different levels.
Wish more people will post in this thread their "money/trade management" style. This manual trading system works well and does not need any more indicators or modification. The only thing left to be explored is the various types of money/trade management.
I use this strategy as well and it works wonderfully without major changes, all I add are Fibonacci Support/Resistance levels. For stops I usually trail them and put them on broken Fibonacci Support/Resistance levels after they are retested. I basically wait for the signal, enter my position then wait for it to break the support or resistance, I then wait for a retest of that level. If it holds I will put my stop there and continue to ride the wave. Each time it comes close to another support/resistance I will take some profit off the trade and let the remaining ride for the retest. I will continue doing this until all profit is taken from my lots, or, until the nonlag turns the opposite color. Hope this helps people. Thanks.
Background Color
Today's trade.
Entered long at start of 8:00am candle (UK time).
Got 30 pips on 2 lots. 60 pips on 1 lot. 8 pips on final lot at final exit when nonlag ma changed colour.
Don't overcomplicate stuff.................. this works...............................
Thanks for your clear explanation :-). Need your help to find the indicator that have color background (re-present the market time for each continent as your posted image). Sorry for my NG English>
Session color indicator
I agree with the above post, I would like to know the name of the indi so that I may have an easier time analyzing the charts!