So, I'm sitting here looking at my wins and had the urge to share what I've accomplished in the last couple of months. I also have a different strategy that trades on full auto 24/5. I created this strategy to build a foundation of like minded traders by way of sharing it with them and me benefitting from there wins as well. This system uses golden ratio calculations, DC with a 170 bar look back period and inverted TZ calculations. This is the holy grail that seems like a pipe dream to most traders. I'm going to be making this same strategy available to a select few in the near future. I follow the daily trend and exit when the 2 dots on the bottom of the chart change color. The top dot changes color first and is used as an early warning system. A buy alert is triggered when RSI crosses 50, DC hits it's highest high within 170 bars and the histogram is above 0 on the scale, preferably above +3 on the scale. The result is a system that almost perfectly calls tops and bottoms. We always use the daily chart to manage our trade and with a 3/1 WL ratio. You should never lose money when trading this system if the conditions are followed, I've made it so that a brain dead monkey could follow this system flawlessly. The result... Let me know if you think this system is hard to follow.. Forgot the word "Guide" in the title, can't seem to change it..
What is important: What is the take Profit/stop loss Ratio... If it is not more than 2/1, then you would have to recheck your system. Profit factor etc. isn't as important, in my view. Edit: suppose you mean win/loss ratio, which is 3/1?! Then this is good.
I've been trading this system for almost 2 years off and on. The results are great and when I do trade manually I use this system exclusively. I execute orders using TradingView so anyone who knows that platform knows it doesn't give you the ability to track or keep a journal. I could do it manually but I don't but will be starting to do that next week. That's what I meant.. SL 50pips, TP 150pips and about 60% of the time when carrying my trades until Friday I see 150/500+ pip gains.
DC = Donchian Channels & TZ = Transient Zones Inverted is when you pay more attention to the HL/LH to locate possible tops and bottoms using a trends previous H/L within a pullback. Buy low, sell high..