I have one more strategy, which is hugely profitable, ONLY IN THE LONG RUN. Every time, D candle closes above 10 EMA, I go Long. These trades don’t have any Limit / Targets (as I’m aiming real huge profits), will have ONLY Stops. Once the trade/s get into 50 pips profit, I move the Stop to BE and forget the trade. If the next D candle closes above 10 EMA and above previous D candle H, I again open 1 more trade, moving the Stop to BE at 50 pips. I keep moving the STOP at every 100-150 pip (depending on the pair) increment. Once the profit for a particular trade is 500 pips, I move SL only with increment of 250 pips.
At the same time, in the same pair, if the D candle closes below 10 EMA, I short and will do the reverse of what I did with my Long Trades. I’m just participating with my entries, allowing the market to dictate its own terms.
If you think a picture says better than words, watch this GJ chart. I still have open trades in this Big rally.
At the same time, in the same pair, if the D candle closes below 10 EMA, I short and will do the reverse of what I did with my Long Trades. I’m just participating with my entries, allowing the market to dictate its own terms.
If you think a picture says better than words, watch this GJ chart. I still have open trades in this Big rally.
As far as I'm concerned ...
TRADING IS ALL ABOUT "WHAT DO I SEE ... WHAT DOES IT MEAN ... WHAT DO I DO" ...
Its for nothing that I capitalize few words / sentences ...