After a 50 pip winning trade earlier on this week our script has just alerted us to this sell trade.
We all know this pair is well over bought this week but when was the time to enter that sell? When our script tells us too!
Trading our script is this simple. No excessive chart time analysing! Simply set the script to your style and trade when alerts present.
This can even be automated leaving you to get on with the rest of your day.
How can we trade with such confidence in what we do?
By the scripts built in strategy tester. We can back test a strategy as we are setting the way we want the script to trade.
The pair in question is a great example. I have the scrip set to just over a 1:2 risk reward, ROI is 309% from January 2020.
All the data can be found at the foot of this idea, Data is based on £500 starting capital risking 2% per trade.
Impressive stats and this gives our traders great confidence to go and enter the markets knowing they are trading with a proven edge.
What is the strategy based on ?
The strategy is a trend follow strategy and we trade what we see.
We have combined 5 individual strategies into one. The trade is only valid when all 5 confluences line up.
At this point a trade is presented on the charts. Alerts can be set for these trades and as already mentioned the strategy can be automated if you wish to do so.
Also with having an ATR based Stop Loss & Take Profit, you'll know where and how your closing your trade every time - without having to think about it.
All of the above is a perfect way to mechanically trade thus removing all subjectivity and doubt that can be associated with trading.
This way of trading helps you detach yourself from the fear trading creates. Sticking to the plan with a known proven edge helps control any negative emotions.
For information on the methods and strategy in use feel free to drop me a message.