congibb

EURUSD at a 4% GAIN

FX:EURUSD   Euro / U.S. Dollar
AGAIN... Another trade where most of you using technical analysis would have placed a BUY on this expecting price to reject from both our Support & resistance zone aswell as the large ascending trendline which was in play.
while you was doing that, i was in the bath reading a book 😂🤣

What is our strategy?

Our strategy is a trend following strategy - that is coded in pine script to use with the trading view platform - the entries are shown automatically! NOTHING is done manually, it 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!

Comments

it's a good thing I placed a buy on my demo account.
lost by 30 pips. risked 2% 😅
better luck next time for me then
+1 Reply
congibb rognema
@rognema, What led you into placing a BUY here bud?
try bringing your risk down to 1% per trade and keep it at 1% to stay consistent, huge factor into trading successfully is not only the strategy you use but also your trading plan and your attitude to risk management
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Nice pal
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