As the title reflects I'm currently entring the 4th year in the analysis of charts and accepting trades based on that charting.1 year live and with clients money who as I mentioned in the title is happy naturally so am i.
I drama Daily bars, mostly on trend and I look for confluance on higher time frames.I use a customized indior to assist identify support/resistance and pivot points.Max risk is 2.5% with a maximum of 9% in the order book.The system enjoys an 80% win rate plus make 75 percent more profit than loss which makes a fantastic yeild curve.I handle the trades on the four hr mainly but monitor the 1 and 15 mins as needed.I define targets for profit and divide my order 3 so I could A.Take profit B.Go even C.Let run.All in almost any combo.The foundation of all of the above is PRICE ACTION and WAITING until im really happy with the setup. I keep out on almost any NFP or rate change day.Sometimes I miss them go break even to soon or take profit to soon or get stopped out to the spread and goes to larger profit on that portion of the order thats just apart of this biz im afraid but all my choices have been predied on price action.I prefer to have the ability to look back on most of my trades and see all of the motives in price action why I did what I did thats my anchor in these wild seas and why my client has great faith in me.Consistant in, consistant management,consistant out as my mentor said fx is a marathon not a sprint. % returns I hear some of you say well if I could get approx 75 percent of any movement based on daily price action im happy the % return takes care of itself.Thats all I guess feel free to post me anything as I attempt to give a little back to this forum which has given me a lot through the years.