Hello guys, my nickname is Maker$ and I’ve decide to share with you my way for profitable trading and of course one of my intraday strategies which I built like a month ago. Something about me: I’m 25 years old. I’ve been trade for couple of years. My strategies are based on technical analysis. What will I do?: I will post my trades with comments Why am I doing this?: I’ll be glad if it helps someone or maybe inspire and it would be really great if someone join me on my way for profitable trading Basic info about my strategy: Instrument: DAX Trading session: 14:30 – 18:00 (UTC +2) Tools: MetaTrader4 Market profile Pivot points Superwoodiescci 50 and 14 Time zones This is how my strategy looks like: How my strategy works I will explain on the first trade.
There are a boat load who initially like Woodie till they find ABOUT woodie and then they find out it is an anchor, straight to the bottom.
Here is my first trade from yesterday. Its badly visible where was the entrace to position so as you can see I put there lines where was stop loss and take profit and on wich price bar I open position. It looks pretty shitty I know but after I gain more experience of posting its gonna be better. For more information about the trades I made I’ve decide to setup myfxbook account where you can see how my strategy is going on. (you can see there trades from last days) https://www.myfxbook.com/members/TastyPortfolio/maker/2082943 Entry rules: Superwoodie creates 6th bar in the way of trend. This bar was between 0 – 200 levels on superwoodie. It gave me information there is a trend in the market which has potential to continue. Stop loss: Stop loss I put behind nearest point where traders accept the price (POC) Take profit: First potential take profit is on the nearest POC. If there isnt nearest POC then I put TP to nearest resistence what is showing me Pivot indicator RRR I had 1:1 How time will go I will improve my posts I swear. Anyway If you have any idea how could I get better my posts let me know Thank you
So your intent is to buy into resistance? It is harder to see with black background and in time drains one's eyes. I am 60yo and most of 30 years using computer was black background, had to swing to white or teal. What you using for trend? Nice trade.
Not always. It depends when Superwoodies creates 6th bar between 0 - 200 levels. For next trade I will switch it to white especialy for you Well about a trend. You can see moving avarages in price chart but I dont use them. 6th bar on Superwoodie is telling me what kind of trend is probably going on. So classicly if Superwoodie is above 0 line then there is Bullish trend and under 0 line Bearish.
Here are trades from Friday 04/21 1. Trade 6th bar on Superwoodiecci went in the way of the trend and was between 0 - -200 levels. Stop loss Pivot – Resistance level Take profit When the price was in RRR 1:1 I behave reactive and get scared little a bit. Fear got me. So I closed that trade. As you can see market went right to my planned TP to POC. 2. Trade As first there is neccesary to say that I increased % risk on trade from 1% to 2.5% coz I have good % succeed rate on trade. Stop loss Behind nearest POC Také profit Nearest Pivot – Resistance level
We all have our ways to trade, "taking the 6th bar" is one I personally never trade as it doesn't have a sound chart basis, but so long as you are happy with end results, all that counts. I been trading 39 years and on my 31st year of day trading, so I have some experience. I don't do signals where structure wise does not make sense. What I have learned is indicators are to make trading easier than using just charts, but all my entries can be done without indicators. Most people get the use of most indicators wrong, they are to indicator something can possibly happen based on usually charting patterns. There are some indicators that are not based on charting like Market Profile and some of HFT formulations based on market speed and volume, and market breadth. Let me ask you this, if you didn't have CCI, can you trade?