Price Action Only

Hello traders,
My name is Edwin and I’m a trader from Belgium. I’ve been trading for about 3 years now, the last of which has been quite profitable.
In my first two years of trading I’ve tried almost every strategy and technical indicator known to humankind and I still failed to achieve success. But that all changed when an experienced trader and a good friend of mine told me that I needed to find the trader in me before developing the strategy that suits me.

Before I continue I would like to point out that just because I’ve been successful for a whole year doesn’t mean I’ll be profitable for the rest of my life no matter what. If there’s one thing that I’ve learned in my three years of trading is markets are changing constantly. And those who survive in the long run are the ones who easily adopt to the new conditions. The key to success in this business is discipline, flexibility and good money management skils. The trading system itself comes second. No wonder you’ll hear people say give the world’s best trader the world’s worst trading system and he’ll still be profitable. Give the world’s worst trader the world’s best trading system and he still won’t be able to make money. So it’s not about the system we use, it’s about how we use it.
The reason why I’m starting this thread is because of a project I’m working on currently.
I won’t be discussing any trading strategies here (at least not in depth and not yet) but I will share my trades with you for the coming months.

About my trading strategy. It’s designed with 2 things in mind:

– It’s a low maintenance, “set and forget” type of swing strategy. It literally requires only 2 minutes of your time each day.

– It doesn’t use any lagging indicators. The only indicator this system uses is price action.

The risk/reward ratio is never less than 1/2. There will be times when it’s as high as 1/7. So it’s a high reward low risk strategy. Average risk in terms of “pips” will vary from time to time (different market conditions at different times) but it will usually be within 50-150 range. The win/loss ratio is about 40%. The system generates about 4 trades a month on average.

We’ll only be trading 15 pairs. Those pairs are:

I’ll be posting my trades once a day at 23:10 CET. The entry level, the stop and the target will clearly be indicated in my post.
The entries should be done with limit orders. That way you don’t have to be there when the price is at that level.
The updates associated with a working trade (such as the trailed stop loss and everything else) will be posted a day later at the exact same time.

I suggest everyone who would like to follow the trade ideas posted by me to trade on a demo account for at least 3 month.
Because this is a swing strategy we won’t be having trades each and every day. And because we can’t judge a system based on a few trades, we need to focus on quarterly results.

That’s pretty much it for now. I wish profitable trading to all of you.

Re:This should be an interesting thread to follow as its almost the complete opposite to the way in which I trade.

1. I trade daily trades, each day
2. Only one currency pair every time
3. Same time session each and every day
4. Same stop loss and profit limit ratio (not to be confused with same pip amount)
5. Same trading approach each and every time, and have done for the past 24 months or so
6. Same risk reward ratio

Good luck

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