I have started this thread mostly for my own gain as I tend to be more decisive with my trading when I broadcast my trades and my methods.
I'm sure I will get lots of criticism but this it something that I have allocated a small portion of my trading account to, and see if I can complete my 1:10 risk reward trades.
I will use a demo account to show my trades and my reasons behind them and to show the progress of the account.
The method is based on a different type of money management where I will risk a small amount, normally around 6 - 10% of the capital to gain 100% of capital. It is a 3 point entry scaling in method and once you have entered your second position then the trade becomes a risk free trade. This method will not work in choppy conditions so there are quite a few break even trades and I think this is where I will get the criticism as I leave a lot of profit in the market and a lot of people will say that I should take some profit. Once the last position has been placed then it becomes a set and forget trade where you either get the full 100% profit or nothing.
I use volume, S & R levels, market profile and price action as my method of analysis and entry levels. I use 1H and 15M charts for my analysis and 1M for my entry methods. I generally only trade the GBPUSD and EURJPY
Well that's basically it, if I can think of anything else to add then I'll add it at a later stage.
I'm sure I will get lots of criticism but this it something that I have allocated a small portion of my trading account to, and see if I can complete my 1:10 risk reward trades.
I will use a demo account to show my trades and my reasons behind them and to show the progress of the account.
The method is based on a different type of money management where I will risk a small amount, normally around 6 - 10% of the capital to gain 100% of capital. It is a 3 point entry scaling in method and once you have entered your second position then the trade becomes a risk free trade. This method will not work in choppy conditions so there are quite a few break even trades and I think this is where I will get the criticism as I leave a lot of profit in the market and a lot of people will say that I should take some profit. Once the last position has been placed then it becomes a set and forget trade where you either get the full 100% profit or nothing.
I use volume, S & R levels, market profile and price action as my method of analysis and entry levels. I use 1H and 15M charts for my analysis and 1M for my entry methods. I generally only trade the GBPUSD and EURJPY
Well that's basically it, if I can think of anything else to add then I'll add it at a later stage.
Just my 2 cents worth