Dkings Legend Swing trading system... (Dkings Legend Swing trading system...)
Introduction
Finally , I decided to respect the requests of those who asked me to create a thread to share my trading methods...
But first I have to admit that on my learning path I have been helped by many generous traders on this forum and I actually do this out of honor and respect for these great people and I am not reinventing the wheel of anything I just discovered some patterned behavior of the market after spending thousands of hours looking at price charts and making that sacrifice is priceless but I have to admit that the discovery is worth it...
When I started trading, I actually had big dreams (funny, I still do, but just with more realistic expectations than when I first started trading). Unrealistic expectations made my attitude towards the Forex market wrong from the beginning... I had a bad psychological foundation, which made everything else go wrong... As a result, every trading system never worked, and the ones that worked only lasted for a short time... The whole dream and fuss was about turning a three-digit account into a six-digit account within a month or two... and the Holy Grail Is it to make any noble desperate businessman rich...so my quest is never ending...but now I know better... I have always been the holy grail and nothing will work until I understand that I have to obey the basic principles of the market ...
But today I know better... Although I don't have a six-figure trading account yet , the daily progress and the assurance that tomorrow will be another winning day has been the greatest joy of my life. ..Now it’s just a matter of time for the secret of compound interest to be realized. ..
I'm just a young Nigerian guy making a difference ... My whole goal is that many traders can use the information in this thread to make their trading better, just like the information I've collected from other forums has helped... They might also get a tip or two from here...
Before I get into the main details...there are a few traders that I would love to actually meet one day, haha...maybe for a cup of coffee to commemorate their impact on my trading knowledge... they have earned my respect! ...I'll put their names in the appropriate places below my trading heroes list...
Dkings Legend Swing Trading System
Things to note Think trading knowledge is free but its understanding will cost you ! ...you have to pay a huge price of attention to be understood , and this path is the path to success that every trader must take...
The basic concept of a trading system is
1) Price Action...Chart Patterns and Candlestick Patterns (Understanding Market Maker Behavior)
2) Support and resistance levels/demand and supply (whole, half and quarterly)
3) Volume analysis
4) Strength gap analysis (using currency strength meter) and currency slope
5) Market Structure Understand the market cycles (accumulation phase, rise, re-accumulation, rise, distribution, markdown, reallocation markdown...and repeat)
6) Divergence and Convergence of Momentum and Oscillator Signals
7) Currency pair ranges (daily, weekly and monthly price ranges and pivot analysis...)
I'll add to the list as it needs to be added... Of all the things I've learned over the past few years, this concept has proven to be crucial in summarizing a credible decision to place a buy or sell order...
Indicators and Templates <br>Indicators are great tools, it depends on the trader actually using them, you should note that traders create indicators indicators do not create traders... No single indicator can make you a super trader... but when you become a good trader, you can maximize the full potential of any indicator to get incredible results...
These indicators are all in the template I'm going to share... make sure your setup is similar to mine so we can be on the same page.. , the volume indicator is the work of one of my great heroes "tradeathome" the starter of the PVSRA (Price Volume Support and Resistance Analysis) thread and other great contributors to this thread... You can go there and fully understand a lot of what we will be applying in the analysis here, just to take the stress off of explaining it for us... (although you have a lot of reading to do).
Another good indicator is the currency strength chart from a generous programmer on ff. Swingman' I must say that's a great indicator! Other indicators are obtained from some forums on ff...
The rules of the game are very simple but very crucial...
The first and most important rule is money management ....trust me, no swing trader can survive without careful money management rules...
I devised a very safe, stress-free, risk-free way to trade my account and patiently grow my account... with so little risk that the market couldn't take me out no matter what it decided against me... and keep my withdrawals low... I don't agree with stop losses ... they bleed your account to death eventually...
I use 0.01 lot size for every 500$ and when it doubles I increase the lot size by 0.01...that means for 1000$ I use 0.02...too small? Not so small if you follow our buy and sell level entry method…
time range
Our main timeframe is 1 hour tf
Buying Rules <br> Use currency strength to buy the weakest currency....1-0 level has been reached Set 3-5 pending buy limits 25 pips from entry (50 pips for GBP pair, 50 pips for GBP pair...allow trade to run...minimum target 50 pips...or weekly range high
Selling Rules <br> Use currency strength to sell the strongest pairs... Limits of 8-9 have been exceeded Place 3-5 pending sell limits 25 pips from entry (50 pips for GBP pairs)...
Rules of conduct in this thread...
Mutual respect ...no trolling...no insults...(this is a trait I hate about some FF members)..if you don't like what you see, just walk away...
And please don't post irrelevant system related stuff here...just open a thread for that...
Just trying to stick with what we have here.
Healthy constructive criticism is welcome...I also like to see things from other perspectives, but only do so if you truly know better...
Please try asking questions related to the content we have here...
and of course everyone is welcome
In short,
One thing I am sure of, when you follow this trading system diligently, you will become a legendary swing trader….
And from time to time, I always update the first post when the latest information comes out... For those lazy traders who want to have everything in one page... some information is deliberately scattered among the posts within this thread... Don't think someone is going to spoon feed you... Search diligently...
Please disclaimer ...I am not responsible for your profits or losses...so whatever you do with the information in this thread is entirely your responsibility!
Finally , I decided to respect the requests of those who asked me to create a thread to share my trading methods...
But first I have to admit that on my learning path I have been helped by many generous traders on this forum and I actually do this out of honor and respect for these great people and I am not reinventing the wheel of anything I just discovered some patterned behavior of the market after spending thousands of hours looking at price charts and making that sacrifice is priceless but I have to admit that the discovery is worth it...
When I started trading, I actually had big dreams (funny, I still do, but just with more realistic expectations than when I first started trading). Unrealistic expectations made my attitude towards the Forex market wrong from the beginning... I had a bad psychological foundation, which made everything else go wrong... As a result, every trading system never worked, and the ones that worked only lasted for a short time... The whole dream and fuss was about turning a three-digit account into a six-digit account within a month or two... and the Holy Grail Is it to make any noble desperate businessman rich...so my quest is never ending...but now I know better... I have always been the holy grail and nothing will work until I understand that I have to obey the basic principles of the market ...
But today I know better... Although I don't have a six-figure trading account yet , the daily progress and the assurance that tomorrow will be another winning day has been the greatest joy of my life. ..Now it’s just a matter of time for the secret of compound interest to be realized. ..
I'm just a young Nigerian guy making a difference ... My whole goal is that many traders can use the information in this thread to make their trading better, just like the information I've collected from other forums has helped... They might also get a tip or two from here...
Before I get into the main details...there are a few traders that I would love to actually meet one day, haha...maybe for a cup of coffee to commemorate their impact on my trading knowledge... they have earned my respect! ...I'll put their names in the appropriate places below my trading heroes list...
Dkings Legend Swing Trading System
Things to note Think trading knowledge is free but its understanding will cost you ! ...you have to pay a huge price of attention to be understood , and this path is the path to success that every trader must take...
The basic concept of a trading system is
1) Price Action...Chart Patterns and Candlestick Patterns (Understanding Market Maker Behavior)
2) Support and resistance levels/demand and supply (whole, half and quarterly)
3) Volume analysis
4) Strength gap analysis (using currency strength meter) and currency slope
5) Market Structure Understand the market cycles (accumulation phase, rise, re-accumulation, rise, distribution, markdown, reallocation markdown...and repeat)
6) Divergence and Convergence of Momentum and Oscillator Signals
7) Currency pair ranges (daily, weekly and monthly price ranges and pivot analysis...)
I'll add to the list as it needs to be added... Of all the things I've learned over the past few years, this concept has proven to be crucial in summarizing a credible decision to place a buy or sell order...
Indicators and Templates <br>Indicators are great tools, it depends on the trader actually using them, you should note that traders create indicators indicators do not create traders... No single indicator can make you a super trader... but when you become a good trader, you can maximize the full potential of any indicator to get incredible results...
These indicators are all in the template I'm going to share... make sure your setup is similar to mine so we can be on the same page.. , the volume indicator is the work of one of my great heroes "tradeathome" the starter of the PVSRA (Price Volume Support and Resistance Analysis) thread and other great contributors to this thread... You can go there and fully understand a lot of what we will be applying in the analysis here, just to take the stress off of explaining it for us... (although you have a lot of reading to do).
Another good indicator is the currency strength chart from a generous programmer on ff. Swingman' I must say that's a great indicator! Other indicators are obtained from some forums on ff...
The rules of the game are very simple but very crucial...
The first and most important rule is money management ....trust me, no swing trader can survive without careful money management rules...
I devised a very safe, stress-free, risk-free way to trade my account and patiently grow my account... with so little risk that the market couldn't take me out no matter what it decided against me... and keep my withdrawals low... I don't agree with stop losses ... they bleed your account to death eventually...
I use 0.01 lot size for every 500$ and when it doubles I increase the lot size by 0.01...that means for 1000$ I use 0.02...too small? Not so small if you follow our buy and sell level entry method…
time range
Our main timeframe is 1 hour tf
Buying Rules <br> Use currency strength to buy the weakest currency....1-0 level has been reached Set 3-5 pending buy limits 25 pips from entry (50 pips for GBP pair, 50 pips for GBP pair...allow trade to run...minimum target 50 pips...or weekly range high
Selling Rules <br> Use currency strength to sell the strongest pairs... Limits of 8-9 have been exceeded Place 3-5 pending sell limits 25 pips from entry (50 pips for GBP pairs)...
Rules of conduct in this thread...
Mutual respect ...no trolling...no insults...(this is a trait I hate about some FF members)..if you don't like what you see, just walk away...
And please don't post irrelevant system related stuff here...just open a thread for that...
Just trying to stick with what we have here.
Healthy constructive criticism is welcome...I also like to see things from other perspectives, but only do so if you truly know better...
Please try asking questions related to the content we have here...
and of course everyone is welcome
In short,
One thing I am sure of, when you follow this trading system diligently, you will become a legendary swing trader….
And from time to time, I always update the first post when the latest information comes out... For those lazy traders who want to have everything in one page... some information is deliberately scattered among the posts within this thread... Don't think someone is going to spoon feed you... Search diligently...
Please disclaimer ...I am not responsible for your profits or losses...so whatever you do with the information in this thread is entirely your responsibility!
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