Project Spio Trading system & Journal -Deadly accurate
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Once you see the price converges at the extreme levels, heads to the mid line, the -60 or -40 line, then it comes back down/up to the extreme levels, then you have a defnite signal to buy/sell.
You then place a buy/sell order right at the fibopivot.
No need to wait for Price action.
No need to wait for candlestick to close.
To add on, the only thing you have to look out for are the squigly lines converging together or goes into the extreme levels.
Ignore the squigly lines.
These indicates noise in the market, therefore, you will not accidentally place a bad trade based on noise because now you know, from the indicator, they are noise.
1. How long have you been trading this exact method?
2. Are you trading cash or sim?
3. If cash, how many cash trades have you taken?
4. If cash, what is the win/loss ratio of those cash trades?
5. If cash, what is your MFE and MAE?
6. If cash, what is your win/loss dollar ratio?
Mike
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.
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1. This method has been used for 3 months. I became consistenly profitable since.
2. Cash - Started with $500 only.
3. Win/loss - Trying to be as conservative as possible, I'll just say, 15% of trades are losses, but at the same time, i'm not sure whether they should be losses cause its like -1 pip loss to quickly exit with when a signal comes wth multiwave- X. I'll touch on that later.
4. I have no idea MFE and MAE stands for. recent trades, on the eur/usd for example, stop loss was about 15 pips, TP 1 was 240 pips, TP 2 was 160 pips. I'm serious.
5. Win/loss dollar ratio, I think that was given in the previous line.
I'm still investigating this system now, I've been sticking to it for 3months, and am still trying to find any flaws to it.
This should be interesting.....I will not be surprised if you don't end up trying to sell something (this looks to professional). That being said I am familiar with a similar methodology and if you are not tossed in the recycle bin by Big Mike I will participate in this disscussion after you fully lay everything out and are vetted.
Kbit
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.
It took much blood, sweat and tears, + some amt of money attending courses
To create the system today through much trial and error where I would find myself spend spending nights studying charts without sleeping.
Last edited by Nasdin94; October 20th, 2011 at 12:12 PM.
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