This is simply to discuss a trading experiment I am taking a look at.
I will not be following the rules of MM (S/Ls, BE, trailing stops, win/lose ratios etc). In some ways I'll just be winging it and seeing if its potential to be successful purely from experience and probability, just using PA and quantity.
I've tried all of the rules over the years and failed, end up with a easy scalping technique that, thus far, has been shown to be successful.
I started another thread with this https://www.forexforum.co.za/trading...m-20-pips.html
Because its purely an experiment, I don't need to risk a lot of cash but I think for a lot of reasons, that real results just come from live accounts so I've stuck 300 bucks into a sub account along with the TE is connected
It is very straightforward and will entail Daily support and resistance with entries according to H1;
I will not be using any stop losses, and I imagine that there might be considerable drawdown on certain transactions. In the event the S or R becomes broken I'll just look for a chance to ditch the commerce and it might possibly provide an opportunity from the opposite direction.I will be keeping my own MM version to compensate for this.
I'll use a bare chart together with the sole indior being a cumulative volume based one called Weis Wave.
This is the current AUD/USD daily chart. Https://www.forexforum.co.za/attachm...1407557365.jpg
You can see I added a line marking the daily resistance. The line is placed at the point where price dropped away without being revisited.
You can see large buying volume approaching the line indiing unloading of long transactions.
If we change to H1 we see the same thing accompanied by bearish price action. Https://www.forexforum.co.za/attachm...1704184943.jpg
The entrance point would be at a stage back close to the line on a re evaluation pending or market.
My TP is where the Weis quantity indies on the daily chart.
I shall re input the same way on H1 until the daily shows reversal
My MM will be no more vulnerability than 1 micro lot for each $50 or as many as will allow me to stay over 1000% margin.
In this case I will need to ditch as many transactions as is needed to maintain it all there.
It can just be true that the account becomes blown with a big move like the chf occasion or other but I am just going to see how valid it turns out to be trading in the very simplest way.
Don't hesitate to contribute any thoughts or experiences like this.
I am on no account attempting to promote this method of trading, simply sticking out it and seeing if we can make it work.
For my trading I prefer to follow my scalping.
https://www.forexforum.co.za/attachm...7934977857.ex4
