Hello,
I have been trading Forex and Indicies for around 2 years now, still consider myself a pup. However, I have recently attempted a position at a futures/options trading firm. The trial with the firm is ongoing and have been told many times that technical analysis doesn't work, and that it shouldn't be used for trading. "Only use the DOM".
This is difficult to change, having traded it for 2 years.
I don't expect to post too often on here and when I do, it will only be a demo account, at least until I'm comfortable enough with this strategy that it can be used for a live account.
Please, if you have any thoughts tell me what I'm doing wrong.
THE SYSTEM:
Keep in mind that this system will be to try and help me trade futures, seeing as it's a measure of volatility and helps to identify new levels.
The strategy is based on Heiken Ashi indicator and the 1 minute time frame. It is purely a case of one-click-trading. However, it did start with the ADX(7) to see when trends were coming to a reversal point. That's since been removed, because generally it shows in the HA candlesticks slowing down.
Indictators:
Heiken Ashi
100 EMA
12 EMA
BBands (perfect to see constriction and reversal)
Stop Loss: 3-5 pips
Take Profit: Let it run. Don't leave the market with less than 3 pips.
Long Entry:
-12 EMA above the 100 EMA
-Candlesticks are rubbing against the lower Bband.
-When Heiken Ashi candlesticks are coming to the end of a trend and beginning to show signs of slowing. I.e Unable to continue through a level, like a double bottom, or simply lack of volatility to the downside.
http://puu.sh/mDZDn/1501eb18ae.png
note: It is fairly dangerous if you do not stick to the Bollinger bands. Guesswork is generally what they call it.
-If you see this occurring, then go long on the first Up candle.
Short Position:
-12 EMA Below the 100 EMA
-Candlesticks are rubbing against the Upper Bband.
-When Heiken Ashi candlesticks are coming to the end of a trend and beginning to show signs of slowing. I.e Unable to continue through a level, like a double top, or simply lack of volatility to the upside.
http://puu.sh/mE0iZ/8697e11479.png
note: It is fairly dangerous if you do not stick to the Bollinger bands. Guesswork is generally what they call it.
Please remember I'm doing this to better my trading results and discipline.
I'll post on here my trades for each day, I manage to sit down and trade this method.
I have been trading Forex and Indicies for around 2 years now, still consider myself a pup. However, I have recently attempted a position at a futures/options trading firm. The trial with the firm is ongoing and have been told many times that technical analysis doesn't work, and that it shouldn't be used for trading. "Only use the DOM".
This is difficult to change, having traded it for 2 years.
I don't expect to post too often on here and when I do, it will only be a demo account, at least until I'm comfortable enough with this strategy that it can be used for a live account.
Please, if you have any thoughts tell me what I'm doing wrong.
THE SYSTEM:
Keep in mind that this system will be to try and help me trade futures, seeing as it's a measure of volatility and helps to identify new levels.
The strategy is based on Heiken Ashi indicator and the 1 minute time frame. It is purely a case of one-click-trading. However, it did start with the ADX(7) to see when trends were coming to a reversal point. That's since been removed, because generally it shows in the HA candlesticks slowing down.
Indictators:
Heiken Ashi
100 EMA
12 EMA
BBands (perfect to see constriction and reversal)
Stop Loss: 3-5 pips
Take Profit: Let it run. Don't leave the market with less than 3 pips.
Long Entry:
-12 EMA above the 100 EMA
-Candlesticks are rubbing against the lower Bband.
-When Heiken Ashi candlesticks are coming to the end of a trend and beginning to show signs of slowing. I.e Unable to continue through a level, like a double bottom, or simply lack of volatility to the downside.
http://puu.sh/mDZDn/1501eb18ae.png
note: It is fairly dangerous if you do not stick to the Bollinger bands. Guesswork is generally what they call it.
-If you see this occurring, then go long on the first Up candle.
Short Position:
-12 EMA Below the 100 EMA
-Candlesticks are rubbing against the Upper Bband.
-When Heiken Ashi candlesticks are coming to the end of a trend and beginning to show signs of slowing. I.e Unable to continue through a level, like a double top, or simply lack of volatility to the upside.
http://puu.sh/mE0iZ/8697e11479.png
note: It is fairly dangerous if you do not stick to the Bollinger bands. Guesswork is generally what they call it.
Please remember I'm doing this to better my trading results and discipline.
I'll post on here my trades for each day, I manage to sit down and trade this method.