PTG wrote:aliassmith wrote:PTG wrote:11 opportunities seen today, 2 cost trades (-1 R), 9 profitable (at least 1.5R), all on M5; all in, all out. Example below.
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Did you take those 11 trades?
Net about 11R is nice.
No I didn't. I was keeping an eye on several charts whilst doing other things to see if this fits what I do currently (planting veggies and taking care of other things).
Repeated it again today, a whopping 22 opportunities, 4 cost trades and 18 profitable. 4 maxed at 5R.
So now I've got 33 opportunities, 27 profitable and 6 cost trades, nets 36 R taking a mechanical 1.5R. About 80% profitable trades.
This is good, thanks for introducing this particular prancing horse
Time to dust off the old forex account now to trade this live. There will be less actual trades because I identified some of these opportunities after they triggered because I'm not stuck to the screen all the time (actually almost not). The important thing is that there seem to be so many opportunities that I can use where only a few will do to get the targeted daily amount of money, and if I come across a cost trade then there are enough opportunities to recoup and then some.
For those who wonder: say you have 10k funny money in your account, and you aim for -say- 300 units of funny money per day to make a living. You risk 1% per trade and get out at 1.5x your risk. That implies two trades are enough, and if you hit a cost trade (which you will) then you need another two profitable trades. Do this consistently and off you go.
So which pairs and timeframes are you working with?
Which market sessions?
I've used it on all sessions and most timeframes under 4H.
