Hello everyone, i am new here and new in general.
i have been demo trading for 2 months and started real 2 weeks ago.
Despite that i have developed a system "spike hunter" as i like to call it. it's success rate per trade is 85-90% BUT i do not trade per trade, i trade a system of intraday trades with a success rate of 100%
the simple explanation is: take at least 10 trades just before the 4h candle close and london opening (that is 11:00 GMT+2 ) and EXIT ALL TRADES at most 2hours before new york close.
i do not care how much i will win in each and every trade, i want +7% of total margin played. when i get that i am out (dont be gready, its enough guys).
well not always, today i got +25%
(if you monitor every trade you can get much more than 7% and you can also enter now, exit at the next candle if target is met and re-enter on different pairs that showed a potential before but not a clear signal witch they do now)
but that is not the reason the system was designed either . this system was designed to catch spikes, that is why i need the many open trades.
set TP way ahead of what you expect, SL should be above the previus 2 candles. so if SL is at 20 pips, put TP at 60-80 pips.
sometime i exit the trades at 1:1 RR if do not see clear movement, many times less. i told you, i only need 7% each day.
if you use 1:100 leverage and 2% risk you are able to take 12-14 trades
Rules.
1. use 4h TF for analysis
2. trade with the trend direction of the daily timeframe
3. volume must be at least 20 if not more (that is the baseline, no volume no trading, if there is volume we wait for the right moment to trade)
3.put a 50 line on the stocastic and leave it as it is
4. for shorts EMA of the stocastic must cross the stocastic line (not the signal line) downwards and just below the 50 line
5. for longs you will see an exmple in attached picture on rar file
6. absolute strenth histogram, set period to 14 and in the colors section set as "none" the first two colors, they are not needed. this is just a confirmation indicator
7. EMA 50 + EMA 100 act as trend confirmation indicators
8. EMA8 acts as exit signal if the next candle opening gets to far away. as exit can also be used the OB/OS conditions of the stocastix, the zero cross(50 line cross in this case) or the 2 other indicators on chart
9. ssl bands also act as confirmation indicators,se at period of 14. i do not use them that much anymore, they are just there beacause i'm used to them
10. waddah adar explosion, well, not really doing much BUT, if there is no volume and this indicator has 2-3 "explosions" thats enough for us to enter.
11. use 1h timeframe to find the right entry
12. gues there is no need to say, but please, RISK FU...N MANAGMENT, nothing more important than this in every system
remember to trade with the trend not against it. at least my results are killers.
i hope you will at least find something usefull. it is a real simple system if you understand and you can enter a trade at a glance, no need to further analyze.
oh and BTW, when i say 85-90% of trades are profitable, i mean at the time i close them i do not mean that each trade will give you 1:1 or 1:2 RR
as i told you, i only care about the total profit of my margin played ( i traded all of my balance). and 7% per day minimum means doubling your account every 2 weeks.
i do not need to prove anything, this is just a thank you to each and everyone trader out there who i may do not know but helped me to be profitable, and actually create a system that is AWESOME
words of gratidute for #mladen
YOU ARE THE BEST, i may not use anymore many of your indicators but i have learned so much from your work. respect man.