Alfredo & Jesus System (AJ)
This Trading Journal is another attemp from us (Alfredo & Jesus) to become profitable: creating a Journal where we will put our trades following specific rules which we believe that, once we get used to them, will start making us profitable!
Our faith on the these rules was inspired by the Nobrainertrades thread and blog, and also by its more experienced members whom we will start thanking on our posts.
Thus, the rules that will determine the course of our lives in the next weeks, are:
Tools:
1.- S/R
2.- Fibonacci
3.- Obvius Trendlines
4.- Patterns NBT QM, 123 Breakout, SBP
5.- Pivot points (Daily) GMT’s midnight.
General Rules:
1.- Keep this system and our own research in separate charts!
2.- Do not mix the entries of this system with the entries or analysis of our research.
3.- After the beginning of each Japanese session, Jesus will send Alfredo an update of the analysis of the pairs where he thinks there might be a change. Alfredo might do the same in the lunch of each London session (or when market gets slower).
Rules for entering trades:
1.- We look for S/R zones (RC says that in 4H they are zones) in 4H chart and up and analyze Price Action in other TF (like 1H).
2.- We draw Fibo levels in 4H charts and up.
3.- We draw obvius TL in 4H and up.
4.- We put the pivots indicator in the charts.
5.- We look for clean trades: the more convergence of tools we have in a region, the more cleaner the trade is if price action favors it (if trend is in our favour, momentum, news coming out, etc).
Money Management:
1.- First TP will be for about 20 pips (countertrend) to 40 pips (with the trend) and SL of the rest of the lots (if there are any open more) will be move to BE.
2.- Stoploss: it shall be (for RC recommendation), at least 25 pips and, generally, of about 35/40 pips (depending of the pair) to close all the lots.
3.- Don´t let a wining trade transform in a losing trade.
4.- No overtrading: just taking the high probability trades.
Future developments:
1-. Experience and backtest in every pair will tell us which tools each pair more respects and how many pips it will usually bounce, and with what probability.
2.- Once we feel comfortable with this system, we will then include, if we think it would make that better, some modifications according to the results of our research of ABCD pattern, Andrew’s Pitchfork and HH,HL,LL,LH points.
Let's become profitable!! (by Alfredo)
This Trading Journal is another attemp from us (Alfredo & Jesus) to become profitable: creating a Journal where we will put our trades following specific rules which we believe that, once we get used to them, will start making us profitable!
Our faith on the these rules was inspired by the Nobrainertrades thread and blog, and also by its more experienced members whom we will start thanking on our posts.
Thus, the rules that will determine the course of our lives in the next weeks, are:
Tools:
1.- S/R
2.- Fibonacci
3.- Obvius Trendlines
4.- Patterns NBT QM, 123 Breakout, SBP
5.- Pivot points (Daily) GMT’s midnight.
General Rules:
1.- Keep this system and our own research in separate charts!
2.- Do not mix the entries of this system with the entries or analysis of our research.
3.- After the beginning of each Japanese session, Jesus will send Alfredo an update of the analysis of the pairs where he thinks there might be a change. Alfredo might do the same in the lunch of each London session (or when market gets slower).
Rules for entering trades:
1.- We look for S/R zones (RC says that in 4H they are zones) in 4H chart and up and analyze Price Action in other TF (like 1H).
2.- We draw Fibo levels in 4H charts and up.
3.- We draw obvius TL in 4H and up.
4.- We put the pivots indicator in the charts.
5.- We look for clean trades: the more convergence of tools we have in a region, the more cleaner the trade is if price action favors it (if trend is in our favour, momentum, news coming out, etc).
Money Management:
1.- First TP will be for about 20 pips (countertrend) to 40 pips (with the trend) and SL of the rest of the lots (if there are any open more) will be move to BE.
2.- Stoploss: it shall be (for RC recommendation), at least 25 pips and, generally, of about 35/40 pips (depending of the pair) to close all the lots.
3.- Don´t let a wining trade transform in a losing trade.
4.- No overtrading: just taking the high probability trades.
Future developments:
1-. Experience and backtest in every pair will tell us which tools each pair more respects and how many pips it will usually bounce, and with what probability.
2.- Once we feel comfortable with this system, we will then include, if we think it would make that better, some modifications according to the results of our research of ABCD pattern, Andrew’s Pitchfork and HH,HL,LL,LH points.
Let's become profitable!! (by Alfredo)