The First trade ended at +1 I am very happy with that because I followed the rules exactly. I cant stress enough how important it is to follow your rules during this challenge or else it is not going to help you. It is also important to follow me on twitter because that is the only way to get the entries in right away. Also please if this challenge is valuable to you make sure you RT the post as well.
In my last post I asked if you wanted me to make my strategy available and no one responded in the comments. So by your silence I am not sure what you want?
Question: do you want my strategy? Please respond below and if I get enough comments I will make it available to you all. Thanks
Last trade results
I will be posting each trade as I make it. So keep up with me on your own trade tracking. It is an important part of the process. Make sure you guys are keeping us posted on your status of following the rules and your trades that is a big part of this the community working together on this. Thanks
1. Identify the trend and Trade with the trend and not against(there are some circumstances where I will do counter trend) but I am not going to cover that here because for the sake of the challenge I want to keep it simple and make the most pips that I can.
2. When I find a trend I will wait until the price pulls back into support or resistance before making another trade in the direction of the trend.
3. Wait until there is a clear candle stick entry signal before taking the trade.
4. Make sure that I have a 2 to 1 risk to reward ratio on each trade I make.
5. Use conservative risk level at 1% of account balance.
6. Put Stop Loss and Take Profit orders in.
7. Move Stop to +1 when you are at +25 pips.
Look at the chart below.
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Winner’s Edge Trading, as seen on: