The strategies used to call trades in the room are sequential, repetitive and tested. We use the same set of criteria in each strategy so we can reliably perform and not trade in unchartered territory.
All our trading signals and calls come with an entry, profit target and stop-loss. Without any of these three elements it cannot be called a strategy.
We trade for a living and we execute our own trading signals in our live accounts.
I am primarily a technical trader. I believe successful trading is about having a reliable set of expectations for market movement at specific price and time intervals. This creates actionable opportunities to enter into the market.
There are four organizing principles to my trade plan. Firstly, my analysis begins with the underlying strategy which is Elliott Wave and market geometry. Secondly, I look at collaborating levels across multiple time frames. Thirdly, I have specific candlestick patterns that trigger me into a trade. And lastly, it’s all about risk control. Every trade I place has a stop-loss and initial target or take profit. I only enter trades that have the potential of a positive risk/reward. And in my own account, I always control the percentage of the account that is at risk with each trade.
My trade plan aims to narrow down the possibilities of market movements and when my criteria are met I am prepared to participate in the move.
For the Live Room with SimplyProfit, I trade the USD/JPY futures (or 6J), E-mini S&P (ES) and E-mini Dow (YM).
When you’re logged into the room, you’ll hear my commentary about my method and you can ask as many questions as I have time to answer!
More to come…