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My Trading Rule
EGI
MY TRADING STRATEGY
PROPHET INDICATOR
Trading Rule
Mindset (IMHO)
The moment you place a trade your already a break even trader what I mean
50/50 the market only does three things up down and sideways so the trick is to
become a 70-80% trader
1. RSI (relative strength index) with means over sold over bought, the RSI is just
another indication you want to make sure you buying the contract bounce
2. Major Support and resistance, (trend line) basically naked charts, use D1 to
set solid trend line
3. Yes I run for the middle BB don’t care about top or bottom – to set TP
Now what I will do, I set an alert in my phone for two pairs when they cross the
70 or 30 on a 1 hour I trade the 1 hour when this alert goes off I switch to the 1
day and find a major support or resistance,
Now anything above the 70 I find resistance on the 1 day and place a sell order 2
pips below that I switch over to the 1 hour and find the last swing high and set a
TP 2 pips above
Now under 30 RSI I switch over to the 1 day I find major support I set buy order 2
pips above I switch back to the 1 hour find the last swing low and I set a TP 2 pips
below,
NOTE :
Happens every day at 3 - 6 pm MST ( 5 to 8 am WIB ) it’s Consolidation period in
the market they jack up the spread so that people won’t enter the market while
the banks discuss market movements [ DON’T TRADE AT THIS TIME ]
In New York Session, at 21.30 the market typically goes boom remember the
trend I have seen is that it pushes hard same candle direction on the 1 hour not
always the case but more times then not.
MST (Mountain Standard Time, 14 hours behind WIB) – Canada & middle US time.
@ 7:30 MST is the New York gap a trend I have noticed is that the market will
Typically not always buy 80% of the time it will push in the same direction it
was going hard until 8:30 I post so you guys will start nothing trends and gaps
Not every session but typically 3 am MST you will see the market flip so if your
in a bad trade 2:30 I’ve seen it flip many times at 3:00 am
Those two pairs how the power to shift the entire market