'erebus' quick is best way to get rich, trades

[erebus]

Hey are u still using box breakout

Sorry, I didn't check here for a few days, no, I'm back to Daily candles

Just watching for major patterns and then try to find a signal candle by candle

Way too much volatility right now to find a lasting trend.........

 

[Rico]

But are you rich, yet?

 

[erebus]

Now here is a plan to get rich

Don't trade Monday

Don't trade Tuesday

Wednesday = Using Fibonacci Tool with custom settings, plot the range from the higher high to the lower low of those 2 days

Enter at an arbitrary percentage above or below this range, I use 25%. Trade management as per your own risk profile.

Picture is worth 1,000 words

Any questions, I'm working from mobile phone only, so no hard stuff

 

[erebus]

I didn't dream this up, check over on ForexFactory under Trading Systems, Simple Monday and Tuesday method

I posted a few charts there and they have EA for back testing

Check the beautiful price action here, lazy pullback to 50% on Wednesday while waiting for the BoE news

 

[erebus]

 

[erebus]

Summary of research for the week ending January 31, 2020. Looking at the 25% line to trigger a trade entry.

On the 7 majors and 21 minors there were:

4 pairs, no entry, EURCHF, EURGBP, EURJPY, GBPCHF

2 pairs, total stop outs, CHFJPY, USDCHF (gave opposite entry)

1 pair, AUDNZD touched the upper line, but seriously, they were the weakest currencies & I hardly ever trade this pair.

Some fantastic pips to be had on EURNZD & GBPNZD. I didn't add up all the pairs but it would be heaps, I'm only on phone so if anyone wants to check it out, go for it.

Probably next week will be consolidating, whipsawing and horrible ranging price action now I have given the kiss of death.

 

[Woodyz]

erebus With yr Mon Tues Strat are you only looking at trades being filled from the London open. Also do you setup both Bull & Bear trades or just setting up for trades following the major trend

 

[erebus]

erebus With yr Mon Tues Strat are you only looking at trades being filled from the London open. Also do you setup both Bull & Bear trades or just setting up for trades following the major trend

Yes, look both ways, method will signal with the current trend entry and also counter trend.

Not time sensitive, only by price. Be sure to read the thread on ForexFactory, they will show the pairs this week.

After last week's spectacular moves, as expected, this week is a bit slow, maybe trend changes, be careful.

 

[erebus]

erebus With yr Mon Tues Strat are you only looking at trades being filled from the London open. Also do you setup both Bull & Bear trades or just setting up for trades following the major trend

The other thing, look at the buffer zone to the trade entry level. I intend to use 25% of the Monday / Tuesday, high to low range, so that will be some pips away. See this chart below, plenty of room and time to place pending orders, and when those explosive moves happen, you're in and not sitting there missing out again.

 

[erebus]

Didn't think Wednesday was going to be so good, things are moving

 

[Woodyz]

Mate had a prob with the computer. Anyway back now and thanks for the prompt feedback. But I did manage to setup the EUR & GBP pairs using this system before the prob so caught the EURAUD trade.
I believe if monitored properly using price action minimizing the bad trades this system could work well. Keep u up dated

 

[erebus]

Works on the DOW too, Mr Donald Trump got off

 

[erebus]

New thread in the member section