E/U M1 trading Yaed style (E/U M1 trading Yaed style)
Hello everyone
I don't really agree with the whole idea of a "trading system", I think there is only one system and that is the universe or something like that, and since I didn't invent the universe, I can't say I invented this way of trading.
Anyway, I'm posting it because I was asked to come here
http://www.forexfactory.com/showpost...&postcount=833
That's what I do because this place and its people have been generally good to me and I reciprocate with equal currency.
I would never lie to you, so I'm not going to tell you how much money you can make or anything ignorant like that, I don't know if you're going to win or lose, it's up to you. Sometimes I lose, sometimes I win, and that's the bottom line. I can give you some summary after three years if you want.
The first picture is what it looked like when I was trading today. Sometimes I'll change things and add another EMA, like 55, and sometimes I'll drop it. For some reason my trades were really good today so this picture is not representative, most of the time my trades are not that good. Green arrows are long, red arrows are short. When I use the script, the red arrow is also in the off position.
Thanks to forexsaint, the scripts can be found here.
http://www.forexfactory.com/showthread.php?t=193727
The second picture is an explanation of the M1 template, yesterday I was trading like a fool, just to show you that I am serious, I tell you that I don't lie.
When to enter <br> Now, as long as the S/R doesn't go directly into the envelope, focus on solving it.
Another idea is to enter on the envelope or when the price hits the envelope and you see some PA you like.
When to close a position for profit <br> You shouldn't try more than 15 pips or so, if you try more you might end up holding on to the trade after a slight sign of a reverse signal, which I wouldn't do, I would buy until the trade is done and then sell. My fixed price target is usually 10, but if profits stall I will close the position and if I see a big opportunity around 15 I will adjust the target slightly.
When to close a position due to loss <br> Most of the time I use a stop loss of 10+ pips and don't close it manually. I used to have the SL 3-6 and maybe I would use it sometimes, but not last week or this week.
I don't really agree with the whole idea of a "trading system", I think there is only one system and that is the universe or something like that, and since I didn't invent the universe, I can't say I invented this way of trading.
Anyway, I'm posting it because I was asked to come here
http://www.forexfactory.com/showpost...&postcount=833
That's what I do because this place and its people have been generally good to me and I reciprocate with equal currency.
I would never lie to you, so I'm not going to tell you how much money you can make or anything ignorant like that, I don't know if you're going to win or lose, it's up to you. Sometimes I lose, sometimes I win, and that's the bottom line. I can give you some summary after three years if you want.
The first picture is what it looked like when I was trading today. Sometimes I'll change things and add another EMA, like 55, and sometimes I'll drop it. For some reason my trades were really good today so this picture is not representative, most of the time my trades are not that good. Green arrows are long, red arrows are short. When I use the script, the red arrow is also in the off position.
Thanks to forexsaint, the scripts can be found here.
http://www.forexfactory.com/showthread.php?t=193727
The second picture is an explanation of the M1 template, yesterday I was trading like a fool, just to show you that I am serious, I tell you that I don't lie.
When to enter <br> Now, as long as the S/R doesn't go directly into the envelope, focus on solving it.
Another idea is to enter on the envelope or when the price hits the envelope and you see some PA you like.
When to close a position for profit <br> You shouldn't try more than 15 pips or so, if you try more you might end up holding on to the trade after a slight sign of a reverse signal, which I wouldn't do, I would buy until the trade is done and then sell. My fixed price target is usually 10, but if profits stall I will close the position and if I see a big opportunity around 15 I will adjust the target slightly.
When to close a position due to loss <br> Most of the time I use a stop loss of 10+ pips and don't close it manually. I used to have the SL 3-6 and maybe I would use it sometimes, but not last week or this week.
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