I've been trading profitably for three years, doing it for a living for two. I've developed a trading system that brings in some pretty nice profits however it's "slower" than what many of you are used to. I might place a trade a month and I might hold a trade for 6 months ... a year isn't terribly uncommon.
However I very rarely have losing trades, my risk/reward is almost a joke it's so tilted towards the "reward" side ... and I really don't need indicators or anything else.
The basics of the system are as follows:
1) Use the 1 month chart to find a pair that is trending ... any pair, I even look at the exotics. Don't get fancy, just use your eyeballs.
2) Use the 1D chart and wait until you can see consolidation against the trend (4 candles minimum opposite the trend direction) then wait until you see the trend resume, now place your trade.
3) Opening the position should be a maximum of 1% of your account value, set a stop loss for 5%
4) Figure out where the support/resistance point for the trend is using the one month chart ... place a take profit stop on the position at 100 to 200 pips before that point is hit
5) get away from your computer and go enjoy your life
This is an ENORMOUSLY profitable system. It does take some time to have a few trades in the pipeline so to speak making you trading profits, but once you get there you can really make A LOT ... past performance no indicator of future results and all that but I make more doing this than any lawyer or surgeon and my trading takes me an hour or two at most two or three days a week.
i have a PDF that describes the full system and the mentality behind it and everything else. Check it out and let me know what you think.
However I very rarely have losing trades, my risk/reward is almost a joke it's so tilted towards the "reward" side ... and I really don't need indicators or anything else.
The basics of the system are as follows:
1) Use the 1 month chart to find a pair that is trending ... any pair, I even look at the exotics. Don't get fancy, just use your eyeballs.
2) Use the 1D chart and wait until you can see consolidation against the trend (4 candles minimum opposite the trend direction) then wait until you see the trend resume, now place your trade.
3) Opening the position should be a maximum of 1% of your account value, set a stop loss for 5%
4) Figure out where the support/resistance point for the trend is using the one month chart ... place a take profit stop on the position at 100 to 200 pips before that point is hit
5) get away from your computer and go enjoy your life
This is an ENORMOUSLY profitable system. It does take some time to have a few trades in the pipeline so to speak making you trading profits, but once you get there you can really make A LOT ... past performance no indicator of future results and all that but I make more doing this than any lawyer or surgeon and my trading takes me an hour or two at most two or three days a week.
i have a PDF that describes the full system and the mentality behind it and everything else. Check it out and let me know what you think.
