Thanks for the question, I am using a combination of vwap+SD's and Ichimoku tick charts for the entry setup, and my usual range charts with S&R for the trade management, I do scale in on support or resistance levels with a limited number of contracts (3-5), stops are tighter. As I am really busy in those days I haven't had time to fine tune the method. The idea is to use the italian job method for the UK session and the trend following for the US one. I will soon start posting some Sim trades with relative comments.
The following user says Thank You to redratsal for this post:
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following 4 users say Thank You to Big Mike for this post:
In order to decrease the risk, instead of scaling in every 10 ticks I will place my orders on the next support line for long entries and on the next resistance line for short entries as indicated by the Fibonaccizones indicator(distance from last entry must be >= 10 ticks). The entries nearby S&R should increase the possibilities of a price reversal in the direction of the trade. The first entry will be as usual on the vwap 2SD. A maximum of 5 contracts should be used.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).