67240141-Gambling With Trend (GBP,EUR Major And Cross pairs)
Indicators:None(Only Trend and Support/Resistance)
Pairs:GBP,EUR major and cross pairs (Essentially EUR/USD)
TimeFrame: Only H1 (Using 4H,Daily and Weekly timeframes for determining the trend)
Description:Trading With the major trend using Support/Resistance
Lot size:the maximum lot size(depend exponentially on balance size)
TP/SL: Depend on the daily volatility of the pair, so our trade won't be opened for too much time(avoiding lagging behind in the contest ).For example EUR/USD TP/SL would be ideally 50 pips.
Hello Guys, most of you now are feeling weird about the title of my thread ("Gambling!!).first of all you should know that professional gamblers did improve their ways of playing through time ( yes dear gamblers aren't playing randomly,in fact they relay on statistics and probabilities and the same thing i'll do here).
Don't get fooled by the trend and support/resistance terms because these technical materials will be used only to gain some advantage on probabilities.
Theorically each trade is independent from the other trades and each one has 50/50 chances to be in our favor, but this isn't true in reality(except the independence) because many factors are influencing the trade such as trend,chaos of market,News releases and of course traders pyschology , so sometimes even if your strategy gives you 60% win rate, in reality each trade have it's own probabilty relatively to the factors i mentioned, thus the trade may have 20/100 chances to be won and sometimes 80/100.....etc , and of course using the Trend and S/R is for the goal to maximize the chances to more than 50% (ideal gambling trade).
Our work here is to use Trend to determine the direction of our trade then use a support/resistance zone as an entry, and the risk/reward ratio would be 1:1 in order to keep probabilities in our advantage (using 1/2 risk:reward ratio would affect significantly and negatively our chances because probabilities for price to move 50 pips are much higher than to move 100pips ).
So in conclusion, my way of trading is that i should take each trade using Trend and S/R zones to maximize my chances to >=50%.
Below is an example of how this works (H1:EUR/USD):
Trading Summary: Number of trades: 0 Trades Won: 0 Trades Lost:0 (Daily updated)
Last edited by yazidzahrawi; 12-02-2016 at 03:31 PM.
Reason: Adding FTSE100
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