RossTyler

EURJPY STILL VALID FOR SELL ENTRY - BUS HASN'T LEFT YET !

Short
FX:EURJPY   Euro / Japanese Yen
EURJPY - still showing signs of bearish momentum (red candles), also multiple rejections of the EMA , still valid for entry if you haven't got on the bus yet !

OUR STRATEGY EXPLAINED:

The entry price, SL and multiple TPs are shown on the chart.

Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter.

What is our strategy?

Our strategy is a trend following strategy, can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term.

The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc.

This could be on your phone trading view app, or laptop of course.

The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy...

What does this mean?

It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management.

The strategy itself can be used as a live trading journal too - how cool is that? The strategy will confirm and support every open and closed position - so its quite easy to follow.

We just have to do what Percy does.

Please see our related ideas below for more information to explain what we do and how it can help you.
Comment: TP1 hit - keep holding and stick to the plan !
Comment: TP2 hit - keep holding - still running at about +100 PIPS !
Comment: TP3 hit - keep holding !
Comment: CLOSE THE SELL TRADE AND OPEN A BUY, IDEA POSTED ON MY PROFILE !

Comments

CLOSE THE SELL TRADE AND OPEN A BUY, IDEA POSTED ON MY PROFILE !
Reply
TP3 hit - keep holding !
Reply
TP2 hit - keep holding - still running at about +100 PIPS !
Reply
TP1 HIT - Keep holding and stick to the plan
Reply
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