Horizontal Line Psycho Trades
Posted: Tue Feb 03, 2009 9:14 pm
It took me a month to pick this one trading plan. There are so many great methods to choose from here it is easy to get distracted.
I get easily confused, so I decided to focus on only one method.
Trading at 00-25-50-75 horizontal lines with the H1 candle color
You only need one trading plan that works for you.
I started Feb 02 2009 and I am focusing on only this method only on 3 pairs: EUR/JPY EUR/USD and GBP/USD
At the top of the hour I pick the best opportunity of the three pairs and trade with the candle color as it crosses the nearest horizontal psycological line.
Results are amazing!!
I log each trade, time, pair and price entry and exit in a notebook.
I do not care if the trade is profitable at this point. I am just focused on acting on the trades as I see them happen. Getting in at the right time and price and exiting based on what the price is doing.
I enter at the line cross and exit when momentum appears to have dried up or the candle color changes on me.
My first day, +77 pips - 7 total trades, 6 wins:1 loss
2nd day +88 pips - 11 total trades 10 wins : 1 loss
Thanks TRO for making it so simple.
--Gary
Here are a few screen shots:
I get easily confused, so I decided to focus on only one method.
Trading at 00-25-50-75 horizontal lines with the H1 candle color
You only need one trading plan that works for you.
I started Feb 02 2009 and I am focusing on only this method only on 3 pairs: EUR/JPY EUR/USD and GBP/USD
At the top of the hour I pick the best opportunity of the three pairs and trade with the candle color as it crosses the nearest horizontal psycological line.
Results are amazing!!
I log each trade, time, pair and price entry and exit in a notebook.
I do not care if the trade is profitable at this point. I am just focused on acting on the trades as I see them happen. Getting in at the right time and price and exiting based on what the price is doing.
I enter at the line cross and exit when momentum appears to have dried up or the candle color changes on me.
My first day, +77 pips - 7 total trades, 6 wins:1 loss
2nd day +88 pips - 11 total trades 10 wins : 1 loss
Thanks TRO for making it so simple.
--Gary
Here are a few screen shots: