Trading without indicators
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Its a nightmare m8 its a laptop I’m using and you should hear the whine of the fans if i go to do 2 things at once, I will be upgrading the computer to a good one soon as I make the money for it off of my trades, I want a really good 1 I don’t have to replace for a while so I was going to get 1 about £4000 that should do everything I need and also I want 4 screens (big ones) my eyes arnt as good as they used to be!
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Here is a system i have had some success with for a time, its not automated as i’m not a programmer and wouldnt know were to start. Mostly everything is self explainitory on the image however whats not is what I do if my stop gets hit shortly after i enter the trade. If my stop gets hit soon after entry I place an opposite trade (if i was selling and stop gets hit, as soon as it does I go long and most of the time I get a break even trade or very close.) I trade us30, your welcome to check it out on that chart on a 5 min timeframe, if you can test it please let me know the results. I usually only go for the break once no more, then if unsuccessful I will either get a break even trade and then scalp later on for some profits. The best thing about my system is that you will be going for twice the risk on the trade 2-1 and if thats not enough for some then you also have the benefit of a break even trade so low risk with good reward. so, you either double your what your risking, your stop gets hit and you get break even, or on a rare occasion loss the 2 trades and you can still go for the break of the range either side for a second chance. this is a good trading method. check it out on the charts!
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Lets just think this through, say just as an example the breakouts happend 50/50 so break 50% of the time and consolodate 50% of the time, however at market open its more likely to break the consolodation as more particapants enter the market. Now we would have to win 50% of the time to break even (if we had no spread) but as we are aware spreads can kill any good trading strategy over time just like the zero on a rulette wheel. So without the trade recovery plan just say were 50/50 but also keep in mind as well as the recovery if stop loss gets hit eliminates a lot of the bad trades by getting our loss back. now take into consideration we are only risking half of what were going for so all in all I think we have an edge that will grow the account over time quite nicelly. Even worse case senario if our 2 trades get hit and we loss on both of them its just like winning 1 trade and we have the loss back on the next trade. For me this makes a lot of sense, i will take losses but over time the account will grow with this system.
Have a really nice christmas and make the most of the market holidays (a nice wee break away from the charts)!
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Another nice wee trade today for 84 points!
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Managed to record todays trade here: https://youtu.be/Nql2s5jhzYs
another good trade, this time i cut the trade in half soon as first level reached. Price did come close to the stop loss but then turned back!
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here is another 2 snips, last one is today its not played out as yet
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