I admit I didn’t do a good job at documenting specific numbers such as spread, so there are some estimates
Win rate is 48.28%
Average RR for all trades is 3.04
Average RR for only winning trades is 2.45
Accumulated RR before spread is 19.8, so if I had risked 1% per trade, I’d have roughly a 19.8% gain
My circumstances unfortunately make Asia the only time of day I can consistently hit the charts, which is infamously slow, so I trade YEN pairs (GBP/JPY and USD/JPY) to have at least some more action, plus take advantage of ICT’s concept the Asian Judas Swing. I hope to trade London or NY once I get into college.
So I’ve returned about 3% a month with this trading system.
I know that’s a lot, and I’m hoping to do prop firms soon, but 3% is kinda slow for that, even though I’ve really developed my patience. I am fine with waiting though.
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Now for my system:
- Psychology
- Only watch 1-2 pairs at the same time
- No more than 1% risk (though this may be problematic considering my account size)
- Ask myself if I’m emotionally sober enough to trade before I even open up the charts
- Not every analysis equates to a trade
- I need patience to wait for high probability POIs and for confirmations
- Embrace a probabilistic mindset
- Accept that any trade may be a loss before I even place it
- Use my criteria, and DO NOT deviate from my system
- I don’t need to catch every move
- I’m here to compete, not to win or lose
- 2 losses or 2 wins per day max
- Analysis | Delineate everything below MTF: (1H to 15m) Structure via ment blocks, supply/demand zones nested within structure, clean levels, most notably the Asian liquidity pool and highs/lows of the past 3 days, plus the open daily line for PO3 LTF: (5m to 3m) Refine supply/demand zones for precision, with LTF analysis or the 50% rule. Use either DMB or SMR for confirmation, with DMB based in Wyckoff, and SMR preferably not on 1 minute timeframe.
- HTF analysis is incorporated in the MTF, there’s not much of a difference
- Trade the trend, don’t try to predict HTF reversals, instead just wait for a reaction and confirm the reversal then
- Set alerts at the POIs then wait for them to go off, then wait for confirmation, don’t just stare at the charts constantly
- Trades should be entered in Judas swings on the side of the open daily line that opposes the trend (PO3)
- Description This cookie cutter setup is described as a supply/demand zone on the side of structure, only taking structure that supports the trend, making sure each supply/demand zone has a liquidity pool, and refining that supply/demand zone via the 50% rule or on a LTF. Confirm setups, get entries, and tighten SLs on the LTFs as well. Finally, the entries should be on the side of the open daily line that is opposite of the overall trend. The open daily line confluence is only necessary for Asia and London, not NY
- Exits
- SL can based on LTF confirmation or MTF POI
- You may get stopped out in a confirmation while the zone as a whole holds, but that’s fine
- This edge is meant to be high win rate, low RR; so aim for the highest probability profits targets (internal to external liquidity, liquidity pools, draw on liquidity, FVGs, etc..) that should be taken out by the trend, not necessarily the most ambitious ones
- Accept nothing less than 2.5 RR
- Management
- No matter how good the setup, don’t trade shortly before red events, wait until after to confirm a setup on a LTF during displacement
- Trail SL (no more than BE) and take partials when price hits alternative POIs that may send price back toward your SL
- Always adjust the TP, SL, and entry to account for spread
- Journaling
- SS both the MTF and LTF (if applicable) of every analysis, even if you don’t take a trade
- Paste into discord trading journal
- Include thought process and reasoning
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This was really just to help journal my thoughts, share my experiences with this community that’s really helped in the past, and I’d just like to hear advice from other traders who may have been in similar circumstances in the past. Thanks!
submitted by /u/Environmental-Bus9 to r/Forex
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