A few months ago, all I was really looking to do was transfer my current AUD/USD method over into other pairs because I was getting a little bored. But being completely honest, it wasn’t as easy as I thought it would be and during that process I made an interesting little discovery.
I wanted to see if this new interesting discovery was constant across the majors (not just a one pair wonder) and I wanted to see if I actually had the patience/discipline/confidence to trade this style with real money and in real time — so I decided to take every single trade setup this method generated over the past month and I got some very interesting results:
10 trade setups were generated over the past month (completely technical & still fits with my ‘minimalist’ approach to trading – I use ONE indicator).
6 of those trades were closed profitable (in screenshot above) (Seeking 1-4R).
I have 3 open positions at the moment.
1 missed setup.
There is still so much that I need to work on with this method – risk wise (position sizing/swap/drawdown), with crosses and with myself. For all I know a bunch of perfectly normal losing trades could bring on a meltdown .
But it’s a good thing I really got out of my comfort zone hey? Otherwise I would’ve had no idea whatsoever that I was capable of pulling trades like this off.
Thoughts: There is no need for any fancy indicators or holy grail, proper risk management and exit technique can get you very far. The entire market (bonds, stocks, commodities, fx) is one big matrix. Some instruments signal major changes in sentiment while other lag. when you realise how it works your first thought will be: ‘damn, its manipulated’.. and you walk out to the garden you see the nature around you… but you don’t think its manipulated… does anyone manipulates seasons or rain or stars… well. the answer both a yes and a no.
Keep learning, keep trading and cut your losses quicky and mercilessly – and never stop thinking 🙂