note: now streaming trade terminal and ddiscussing EURUSD in real time at www.twitch.tv/rag2richesfx
When really all you need is divergences and decent, that's right, only DECENT money management.
$1000 into $1,000,000 in 1 year is certainly possible. Not saying it is likely, but it is more than certainly feasible.
Risking no more than 1% per day, you can make 3% a day without breaking a sweat. 3% a day compounded for a year is 100,000% per year.
How you might ask?
I don't really post on the forums anymore because I'm too busy living life (finally, the hard work has paid off). I only have to trade for a few hours (well sometimes its 6-8 on bad days) a day with this system.
M5 chart (or m15 but use a wider stop)
RSI (3) or stochastic 3
Risk 10 pips on a hidden divergence (s/l = 10 or 11).
Lot size per $1000 = 0.10
If you win, risk 10 pips on any divergence (hidden to be more conservative, both to be more aggressive).
A loss of 10 pips = a loss of 1% of your account, $10.
The typical winning trade is anywhere from 1-3% (10 to 30 pips), depending on the strength of the continuation. Exit on a fixed amount of pips as you prefer, or wait for divergence to show so you can take your profit when the market is ready to turn. You can then proceed to go long if you are into doing counter trend. However, you should use half the position size on a divergence compared to what you would use on a hidden divergence.
Why? Chance of success is less AND pips the divergence will travel before running into hidden divergence is much smaller than a with trend trade. So if you want to do divergences I recommend half the lot size, or half the stop loss.
Is there anything else? No, not really. The chart below shows divergences and hidden, and the aqua lines are hidden or divergences that the market FRONT RUN. It means the chance of a new divergence was so high, that they did not even wait for one to be made. They may even be more powerful than an actual divergence. You will notice large breakout moves tend to happen after the aqua lines, what I call "Inevitable Divergence"
You can also do this with martingale and a stop loss of 3% and make ENORMOUS gains (10+% not unheard of once the trend continues), but I'll let you figure that one out for yourself riskier of course, but higher reward
I thought trading was always going to be a long days work, but now its easy, quick, and relatively stress free.
You're welcome and enjoy.
edit: fixed some typos
edit2: two weeks later, looking back at this first chart i posted, i missed a lot of hiddens...
i guess thats why they are called hidden. sometimes they truly do hide
When really all you need is divergences and decent, that's right, only DECENT money management.
$1000 into $1,000,000 in 1 year is certainly possible. Not saying it is likely, but it is more than certainly feasible.
Risking no more than 1% per day, you can make 3% a day without breaking a sweat. 3% a day compounded for a year is 100,000% per year.
How you might ask?
I don't really post on the forums anymore because I'm too busy living life (finally, the hard work has paid off). I only have to trade for a few hours (well sometimes its 6-8 on bad days) a day with this system.
M5 chart (or m15 but use a wider stop)
RSI (3) or stochastic 3
Risk 10 pips on a hidden divergence (s/l = 10 or 11).
Lot size per $1000 = 0.10
If you win, risk 10 pips on any divergence (hidden to be more conservative, both to be more aggressive).
A loss of 10 pips = a loss of 1% of your account, $10.
The typical winning trade is anywhere from 1-3% (10 to 30 pips), depending on the strength of the continuation. Exit on a fixed amount of pips as you prefer, or wait for divergence to show so you can take your profit when the market is ready to turn. You can then proceed to go long if you are into doing counter trend. However, you should use half the position size on a divergence compared to what you would use on a hidden divergence.
Why? Chance of success is less AND pips the divergence will travel before running into hidden divergence is much smaller than a with trend trade. So if you want to do divergences I recommend half the lot size, or half the stop loss.
Is there anything else? No, not really. The chart below shows divergences and hidden, and the aqua lines are hidden or divergences that the market FRONT RUN. It means the chance of a new divergence was so high, that they did not even wait for one to be made. They may even be more powerful than an actual divergence. You will notice large breakout moves tend to happen after the aqua lines, what I call "Inevitable Divergence"
You can also do this with martingale and a stop loss of 3% and make ENORMOUS gains (10+% not unheard of once the trend continues), but I'll let you figure that one out for yourself riskier of course, but higher reward
I thought trading was always going to be a long days work, but now its easy, quick, and relatively stress free.
You're welcome and enjoy.
edit: fixed some typos
edit2: two weeks later, looking back at this first chart i posted, i missed a lot of hiddens...
i guess thats why they are called hidden. sometimes they truly do hide
Be hopeful in a winning position, and fearful in a losing position.