Here I will try to give a detailed description of the trading system KingEURUSD, so that you understand how it works.
The trading system is without indicators and without using a * trend *. It doesn't matter what the * trend * is now. Rules and tools are gathered in a single algorithm, which never changes. The system remains constant without any changes. The basis: pattern for buying and selling, zones for buying and selling, trading cycles, filters of losing deals...A pattern is a certain accumulation and arrangement of candles in the place I need on the chart (a pattern outside the zone has no value). The zone of buying and selling is the place where I meet the price to complete my transactions, if all the conditions for the transaction are met. A trading cycle - determines the systematic price movement, filtering out false price provocations (the end and the beginning of the cycle occurs in my buying and selling areas).
All rules and tools are based on lengthy manual research and detailed statistics. The best results are on the EURUSD currency pair, however this works on all currencies. A trading system is a single interconnected algorithm. At the initial stage, I recommend using only EURUSD to trade ideal patterns and quickly feel real money. Trading within the day, you can trade on any day and in any session, when you have the desire. At the end of the trade, all transactions are closed, there are no long-term transactions, the trader is left without excitement and has a good sleep. The average transaction duration is from several minutes to several hours. The average SL is 7–13 points, in about 20% of cases the SL is 3-4 points. Profit is fixed upon the fact of price movement and depends on the duration of the cycles, the location of the zones and price activity. The main timeframes for transactions M1, H1 additional M5, M15, M30. This is not scalping! The duration of the transaction is from several minutes to several hours.
Example: a purchase transaction has an SL (stop-loss) of 10 points, the range of price movement upward by 50 points on that day, as a result of this movement gave a profit of 40 points. For safety and unexpected price behavior, profit should be fixed in parts (for this purpose I use a special algorithm). In order to open a risk-free transaction from the SL of 3-4 points, it is necessary to obtain a number of conditions that will make it possible to make the most profitable risk / profit ratio.
How does my trade start any day?
- Open the currency chart and the news calendar (news that has 3 categories of importance should be noted on the chart).
- Find the nearest H1 buying or selling zone.
- Draw the line M1, according to certain rules, which gives accuracy to this zone.
- Set up the H1 trading cycle and make sure that it has ended in my buying or selling zone.
- If everything is in order, and the price touched or crossed my line, I open M1.
- The next step: you need to find a pattern on the M1 timeframe, in accordance with all the rules (the rules are the same for all patterns). It is with patterns that all price movements begin.
- Open a deal, set the SL (at the edge of the pattern), define the TP (take-profit) using a special algorithm.
- Transaction support using trading cycles, zones and timeframes M30, H1.
- Closing of a deal in several stages (if necessary). There are many ways to close deals safely and systematically.