Naked Chart Based Trading PRM style "LESS IS MORE"

Alot to learn and i see you trade now alot other assests than the 6 of the first videos.

So its possible to trade everything? or do i get something wrong?

i only did watched the first 3 videos. Will you explain if you use multitimeframe?

I really like your strategy and hope to get the clue here^^

 

You could trade levels of any instruments, what you need to keep in mind is to only trade the ones that are very liquid.

I don't look at multiframes any longer. I do look at various frames, just don't cross reference them. I could see something I like on EURUSD Daily chart & another setup will look good on hourly frame chart in SPX.

I can't say this enough - retail edge is mostly derived from risk management. Say you found a level to trade, a support and price is nearing it so you get ready to buy. I then look where the stop is in relation to a realistic target and that ratio I would want to be around 3:1 (reward:risk). Sometimes you would have a bad run, other times you would have a run of winners, average would probably be around 50% hit rate or even below. That is why you really have to concentrate on the rate of return vs loss in conjunction with r:r ratio.

 

Are you buying support on first touch or waiting for price action / momentum confirmation?

 

I prefer second touch . I used to wait for confirmation, but changed my strategy, the lower you buy the better the r:r ratio opportunities.

 

No guts, no glory

 

Some would say "wait for confirmation", yet confirmation provides false sense of security, price oscillates continuously and unexpectedly more often than what we would have liked, so entering when trend has been established or bounce has become an obvious outcome seems somehow more valid, but it isn't.

 

I'm not anti-trend, the above is about risk management, I always have risk outside current 'floor' level (when betting on upside,) if I was to go in after a bounce has been confirmed I'd have to adjust position size so that my stop loss remains consistent (%), but now as risk in point value has been increased (say from 10 to 50) my reward would also have to be increased proportionally, if reward was 30 it would now have to be 150.

 

One goal short, @14/1 a close call.

 

-1

 

I hope your trading goes well! Will you upload new trading videos?

And i want to try the blackjack compounding it makes sense to me but i think without a perfekt play it doesnt work^^