Explained Trading Strategy

Hello to all forum users. First I want to apologize for my English, I am using the Google translator to write and read, but I promise that one day I will strive to learn the language well. In this thread I want to open a discussion space where everyone can participate and share ideas about my investment method. I do not use any indicator in graphics, so for beginners who feel more comfortable with oscillators, this strategy may seem more complicated to them. These are the rules that I follow in my trading: Clean chart without any type of indicator. Trendlines, supports and resistances. Sometimes I operate in breaks and other times in rebounds, later I will explain how I decide each case. I plot the levels of support and resistance first in weekly graph, then daily and finally in minor time frames. Depending on the day, I look for long-term operations in D1 or W1 (almost never in case.

Okay... I'm interested. And how do I move on? What should I do to make myself profitable with this system? Thank you, brother.

USD/CHF, attentive to the rupture of the support or resistance.

EURGBP: support break.

Situation in EURJPY.

Attention tomorrow to the pairs USD, GBP and CAD. There will be news that could change some analyses: 09:30 GBP Average Earnings Index +Bonus 09:30 GBP Change in Unemployment Requests 09:30 GBP Unemployment Rate 13:30 USD Construction Permits 13:30 USD Homes Homes 15:00 CAD BoC Monetary Policy Report 15:00 CAD Interest Rate Decision 15:30 USD Crude Inventories 16:15 CAD Governor Poloz's Speech

Citing EURGBP support break I am short now, taking advantage of this break.

Today was a day of missed opportunities... the analysis was correct but because I wasn't in front of the computer I couldn't take advantage of them.

In this operation I've already put the risk at zero, so I can focus on other things while waiting for the operation to bear fruit.

Good.

Well, it's a pretty basic approach.

Sometimes the basics are the most profitable.

Citing EURGBP support break After the end, before the entry.

So basically, you're straight in when the candle breaks the trend line?

Exactly. If the candle closes below (or above)

And you don't use any additional filters because those fake breaks are everywhere.

Of course it is, but that's where the experience and context analysis comes in. It's not just about the line, it's also about the volume, the news of the day and the strength of the previous movement.

It seems easy to say... until you apply it in real.

Totally. That's why I recommend practicing quite a bit in demo before putting real money.

I tried it for a month in demo and it was going well. I went real and I melted in two weeks.

Psychology is 80% of this. Strategy is simple; emotional control is the real challenge.

In what temporality do you think this system is most effective?

For swings I prefer H4 and D1, for scalping it works well in M15. It all depends on how much time you can spend.

And if you combine this with a volume indicator, would it improve accuracy?

Yes, adding volume can help you validate breakage, especially when there is volume increase in breakage.

It sounds more like throwing the coin and waiting for me.

If you only see lines, it does seem simple. But when you study the supply/demand zones well behind those lines, the game changes.

Do you use candle patterns as confirmation?

Exactly, especially in the important supports and resistances. Reversal candles are very useful.

I'm more than waiting for the pullback after the breakup, so I filter a lot of fakes.

It's a very valid option. In fact, sometimes I apply it. It depends on the breakout strength.

A system without indicators... seems easier than it is.The problem is to define those lines well.

There is art. Drawing supports and resistances is subjective at first, but with practice you sharpen the eye.

Do you use diagonal lines (trends)

Both. Horizontal ones are fundamental, but trend ones give me very good entries in prolonged movements.

I'm liking the focus. Do you have a more or less calculated percentage of correctness?

In my records, I maintain a ratio of 60%-65% correct, with a minimum risk/benefit of 1:3.

That sounds nice, but when the market goes crazy with the news... what do you do?

When there are important fundamentals, I close positions or do not open new ones. It is not worth fighting with the volatility without control.

The problem is that right on the news is where the big moves are...