Davit's BB Wave System - MT4/MT5 Resources
Disclaimer Trading involves risk and you are responsible for both losses and gains.
Hi everyone decided to share my trading method. There are very few things about me. I am a degenerate sports gambler who has been betting primarily on basketball, football, and baseball for five years. I would be up thousands one week and down thousands the next week. I had no real understanding of betting percentages versus account size until I lost all my money. Completely stopped. As I had hoped, I ended up trading Forex in some way. All rookie mistakes crashed several accounts and mine. I finally started making money in the third year.
Before I continue, I want to emphasize that knowledge and experience are important. Reading trading books can help address weak areas, especially psychological subjects such as inability to take a small loss and let it turn into a huge loss, inability to let profits run, trailing stops, etc. This is crucial because no system can make you money, regardless of profitability, without your own efforts, because you are not only facing the market, but your own demons
some books worth reading
1. ALL MARKET WIZARD BOOKS BY JACK D. SCHWAGER (This is to open your eyes to the possibilities in trading)
2. Memoirs of a Stock Operator (read it twice and gain more the second time)
3. Harmonic Trader by Scott Carney (anything by him)
4. Birding in Lion Country by Dirk du Toit (borrowing many of his ideas)
5. Trading within the area (trading psychology classic)
6. Van Tharp - Super Trader (even if you absorb 20% of this book, you will make huge improvements)
7.AJ Robert Pretchett Frost-Elliott Wave Theory (must read)
System indicators
System Details Most people know me as a typical over the counter trader and I'm pretty good at that, but not taking obvious trend-following trades is a hindrance in my opinion, so I designed the 2-in-1 Trend Following and CT System
Part One Trend Following <br> This is partly based on Raj Horner's 34 EMA (she has tons of videos on YouTube for further reading)
Simply a brilliant concept. Why 34? Well, in my opinion, it works best, Raghee thinks it's the Fibonacci numbers.
Trade when PA is above the wave green candle and below the wave red candle, the blue candle is neutral and best not to trade.
1 hour, 4 hours and daily must be in the tank
Part 2 Counterpart Trade Daily Chart
PA is within the 2nd and 3rd deviation
RSI 70/30 and above WR% Above -20 Below -80 These are the levels of fatigue
We will wait for the RSI and WR% to hook in opposite directions before entering the CT trade H4 Daily.
This is to ensure that the trend/wave is reversing . This is important because BB and oscillators can hold OB/OS for long periods of time.
When trading with the trend, be aware of the BB levels for exiting the trade. First TP BB Intermediate Second TP should PA further hinder development on the other side of the BB Second third
Your chart should look like this
Hi everyone decided to share my trading method. There are very few things about me. I am a degenerate sports gambler who has been betting primarily on basketball, football, and baseball for five years. I would be up thousands one week and down thousands the next week. I had no real understanding of betting percentages versus account size until I lost all my money. Completely stopped. As I had hoped, I ended up trading Forex in some way. All rookie mistakes crashed several accounts and mine. I finally started making money in the third year.
Before I continue, I want to emphasize that knowledge and experience are important. Reading trading books can help address weak areas, especially psychological subjects such as inability to take a small loss and let it turn into a huge loss, inability to let profits run, trailing stops, etc. This is crucial because no system can make you money, regardless of profitability, without your own efforts, because you are not only facing the market, but your own demons
some books worth reading
1. ALL MARKET WIZARD BOOKS BY JACK D. SCHWAGER (This is to open your eyes to the possibilities in trading)
2. Memoirs of a Stock Operator (read it twice and gain more the second time)
3. Harmonic Trader by Scott Carney (anything by him)
4. Birding in Lion Country by Dirk du Toit (borrowing many of his ideas)
5. Trading within the area (trading psychology classic)
6. Van Tharp - Super Trader (even if you absorb 20% of this book, you will make huge improvements)
7.AJ Robert Pretchett Frost-Elliott Wave Theory (must read)
System indicators
System Details Most people know me as a typical over the counter trader and I'm pretty good at that, but not taking obvious trend-following trades is a hindrance in my opinion, so I designed the 2-in-1 Trend Following and CT System
Part One Trend Following <br> This is partly based on Raj Horner's 34 EMA (she has tons of videos on YouTube for further reading)
Simply a brilliant concept. Why 34? Well, in my opinion, it works best, Raghee thinks it's the Fibonacci numbers.
Trade when PA is above the wave green candle and below the wave red candle, the blue candle is neutral and best not to trade.
1 hour, 4 hours and daily must be in the tank
Part 2 Counterpart Trade Daily Chart
PA is within the 2nd and 3rd deviation
RSI 70/30 and above WR% Above -20 Below -80 These are the levels of fatigue
We will wait for the RSI and WR% to hook in opposite directions before entering the CT trade H4 Daily.
This is to ensure that the trend/wave is reversing . This is important because BB and oscillators can hold OB/OS for long periods of time.
When trading with the trend, be aware of the BB levels for exiting the trade. First TP BB Intermediate Second TP should PA further hinder development on the other side of the BB Second third
Your chart should look like this
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