TOTAL VISUAL UPDATE 25 AUG @ 20:00 GMT
I've removed the First Edition of my Machine. That can be UPDATE II
Please start the new .zip document to the current set up (screen shot of my installation connected)
Trading principles are the same. . .only thing that changed is supporting visual/confirmation indiors.
I added the Snake Meter because it gives real-time multi-time frame colour signals. . .For example. I just take trades when the 4H is the colour.
I added Waddah Attar Trend because it is MUCH better than the AO. . .when utilized as a Signal Arrow affirmation indy it will ELIMINATE false trades.
READ THE ATTACHED WORD DOCUMENT
Pairs: GBP/USD appropriate today. . .GBP/JPY in the future
Time Frame: 1H
UPDATE******* STOP LOSS IS NOW: The Fractal prior to the entrance candle, or in other words the amount you used to haul the Fib plot to*******
UPDATE: 25 AUG I've gotten rid of this AO and added the Waddah Attar Trend meter..very accurate and non-repainting.
Usage is as follows:
After inputting on the break of this sign candle confirm movement of trade with corresponding WAT colour bar
This really is:
1. A 1H breakout egy is a Price Action/Fibonacci based trading egy.
2. A simple, repeatable mechanical trading platform
3. A template which can be implemented via the trader to achieve a particular and defined profit
This really is NOT:
1. The Holy Grail
2. An indior laden, user intensive trading platform
3. A trading system with particular Pip targets (exit at 5, or 10 Pips)
Why I'm doing this:
I wish to enhance my trade execution order (see record) via a much better method to leaving a trade after the 161.8 level has been hit. (Trailing stop experimentation)
Everything you will get out of doing this:
You will get confidence in practicing, sparking a mechanical thought process and trade execution sequence. You will gain an comprehension of all trades are affected by Fibonacciyou will learn to control master and greed patience.
The easiest thing about my system:
It can be implemented using a simple checklist, allowing to get ZERO user enter...just execute the process steps in order.
The hardest thing about my system:
You will enter trades to get short/medium/long durations, all which are entirely out of your hands...that you MUST wait for your goal to be attained.
Oh yeah, and also the Stop Loss is 150 pips out of your entrance.
The most important point to consider:
Trust the transaction, and keep in until the goal is attained.
Concept:
by using the ScalperSignal alerts that are based on PA and MA correlation, the 1H Cubicle Breakout Strategy triggers trades that once the entrance criteria is fulfilled will take the transaction to a profit amount of 161.8, 80% of the time on GBP/USD. (More pairs in testing)
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The secret to this fib plots is in the doc, in addition to ALL settings, along with other info. Please get the .zip it will include everything. Adding my template.
I trust my explanation on both image/words will meet any readers queries. If you DO have a query, please post it HERE. . .DO NOT PM me!!!! Thank you.
-Darren
Probability Analysis:
Therefore, there's a 5% Chance we will just hit 138.2 Fib
A 80% Chance we will hit 161.8
A 45% Chance we will hit 261.8
A 15% Chance we won't hit any amount for example 138.2 (Total Failure)
I believe those are pretty good chances.
Largest drawdown before hitting 161.8 or 261.8 has been -150 pips.
I'd say on ANY trade you would need a prevent loss of 200 pips! I know, I know...crazy...but look at the odds.
There were just two Drawdowns over 100 pips prior to hitting 161.8/261.8...therefore it would be well worth the pain for a little while.
Just set the TP level and neglect.
The average Trade pip profit was @ 40 pips (LOW AVG)...so from May 1 09 to Today...that's a net profit of 5,400 pips...on ONE pair.
https://www.forexsoutheast.asia/atta...7627925399.pdf
https://www.forexsoutheast.asia/atta...3206120106.zip