How I Have Achieved 100% Winning Trades For > 1 Yr So Far,Part 2
What is the strategy?
- Keep it SIMPLE. I repeat, keep it SIMPLE
- Even looking at my published trade ideas you will see that it is very plain and straight forward.
- Forex markets moves on central bank rate expectations. Period.
- No use of any indicator. I use moving averages and fib levels just for reference but don't hang my hat on that.
- Finding the solid technical spots for the entry, mainly in the direction of fundamental argument
- No trade if entry advantage is lost
- No rigid stop loss or profit targets. ( That doesn't mean to keep on adding in losing trade. Nope, averaging loser is not a strategy ) If things change, trade entry and expectation changes. Yes, even within seconds !
- In a nutshell, the strategy is purely based on good "Understanding of Price Action". Now if you ask me, what does that really mean then only thing I could say is that looking at the tape one must FEEL the relative strength and weakness of the price. There is no trick in this. One must spend enough time with the market to have this feeling. Same as understanding a person ! The more time you spend, the more you will understand. There is no definite time period to achieve the proficiency. Some are quick learners, some are slow and some never will. That's reality of life.
Achieving excellence in Trading is like "Nirvan". The journey is done alone. One needs to find one's own technique. Borrowed tricks will not work in most cases. Yes one can gain knowledge by looking how others trade but eventually it will be your own ability which will carry your further.
I guess it is enough for now and will share things in future if I find it worth sharing.
"A person has to lift himself up, using his mind and should not let himself fall. This mind, is the friend as well as the foe of person's life"
Bhagvad Gita, Chapter - 6, Verse 5
- Keep it SIMPLE. I repeat, keep it SIMPLE
- Even looking at my published trade ideas you will see that it is very plain and straight forward.
- Forex markets moves on central bank rate expectations. Period.
- No use of any indicator. I use moving averages and fib levels just for reference but don't hang my hat on that.
- Finding the solid technical spots for the entry, mainly in the direction of fundamental argument
- No trade if entry advantage is lost
- No rigid stop loss or profit targets. ( That doesn't mean to keep on adding in losing trade. Nope, averaging loser is not a strategy ) If things change, trade entry and expectation changes. Yes, even within seconds !
- In a nutshell, the strategy is purely based on good "Understanding of Price Action". Now if you ask me, what does that really mean then only thing I could say is that looking at the tape one must FEEL the relative strength and weakness of the price. There is no trick in this. One must spend enough time with the market to have this feeling. Same as understanding a person ! The more time you spend, the more you will understand. There is no definite time period to achieve the proficiency. Some are quick learners, some are slow and some never will. That's reality of life.
Achieving excellence in Trading is like "Nirvan". The journey is done alone. One needs to find one's own technique. Borrowed tricks will not work in most cases. Yes one can gain knowledge by looking how others trade but eventually it will be your own ability which will carry your further.
I guess it is enough for now and will share things in future if I find it worth sharing.
"A person has to lift himself up, using his mind and should not let himself fall. This mind, is the friend as well as the foe of person's life"
Bhagvad Gita, Chapter - 6, Verse 5
