FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Simplified harmonic trading,

Here's the shark pattern .

Step#1 Identify a harmonic pattern placing D at the XA retracement/extension level of the PRZ.
Step#2 Draw the target levels stretcing fibs from the A to the D and enable -0.382 level to calculate the equal distance between the D and target#1 and the D and stop level.
Step#3 Draw the blue rectangle between the D and Stop level.
Step#4 Entry technique: Wait for one of the following candlestick reversal patterns to appear inside of the blue rectangle: a) hammer/shooting star b) pin bar c) bearish/bullish engulfing d) dark cloud cover/piercing patterns. They should appear on the top of a peak or at the bottom of a valley. Avoid the formations within sideways movements. Only enter if the candlestick pattern closes inside of the rectangle . If it goes below it then wait for price to come back inside of the rectangle and form another candlestick pattern. As the initial distance from the D to the target 1 equals to the D to the stop level and you enter only beyond the D thus you will ALWAYS have a positive reward to risk ratio.
Step#5 Trade management: Unlike advanced             patterns in this strategy no target adjustment is needed. When target one is attained then close half of your position and place the stop of remaining half to the D. Thus you will garantee some profits because your entry was beyond the D.
Step#6 Exit technique: Simply wait for priceaction to hit one of your levels: either stop or target

The strategy is 49,6% accurate this means that small losses will appear pretty often. But when targets are attained they are great thus the equity curve recovers the drawdown pretty fast. To tell the truth none of my strategies gives the same smooth movement of the equity curve.

I entered at the engulfing close. Risk/Reward= 1.2

Best Regards,
Alexander Nikitin, a professional trader and a programmer.
NZDCAD

snapshot


Phản hồi
Hello and thank you for sharing your ideas.
I would like to know wich is the profitability per% that you saw with this type of tranding (harmonic patterns) in a long period.
Thanks!
Phản hồi
Alexander_Nikitin TOP DimitriosKazantzidis
@DimitriosKazantzidis, You might be a newbie who doesn't know that the profitability depends on a position size.
Phản hồi
DimitriosKazantzidis Alexander_Nikitin
@Alexander_Nikitin, Sorry i would like to tell wich is the ammount of wiining-losing trades with this kind of trading system.
Yes i am newbie trying to find a way to trade ...
Thanks again
Phản hồi
Alexander_Nikitin TOP DimitriosKazantzidis
@DimitriosKazantzidis, read the description of the idea. it is written there...
+1 Phản hồi
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