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Project Spio Trading system & Journal -Deadly accurate
I opened a trade today based on the multiwave - W indication pattern and I placed a buy order at the price pivot?
Guess what? You guess it, I entered the move right at the wick of the move
No need to wait for price action to react or I would have missed 30 pips into the trade and would have also used a bigger stop loss, which is at the wick.
Currently in the picture, you can't see my stop loss, I moved it to the fibo pivot line, which is about 3 pips stop loss.
my TP is at 1.38683 ( 180 pips profit)
It is located at the fibopivot R3 line
Currently trade is at 48 pips profit.
EUR AUD TRADE:
Hmm, price missed my sell limit which I placed. It was just 5 pips away but did not hit and therefore did not trigger.
Could have made 50 pips by now though,
Nevermind, I shall wait for a second entry.
Can you help answer these questions from other members on NexusFi?
Now trade is in GREAT Profit. As usual.
But we both know, where the price will stop at. Hehe.
Huh? Where? Use the SPIO fibonacci drawing method to find out, the price will stop at the level which confluenced with the fibopivot.
I have not moved my stop loss yet, I should better move my stop loss to the 1.3805 line now - 15 pips.
Which is 1.3790
EDIT:
I was "Profitted out" with a 120 pips profit.
However, this is good, because I know, that I had exited the trade just before the retracement develops.
At the same time, I know that this is a retracement, despite the price action being formed currently, the indicator has yet to make a SITG pattern and is not in the Extreme levels yet therefore, the bullish move has not ended yet.
So, I'm looking foward to re-entering the trend, using the Multiwave-x indicator and SPIO's fibonacci method as the price has yet to hit the 261.8 level therefore it is probably moving down first so that it can recuperate its strength so that it can go higher till the 261.8 level
Hmm. The euraud trade that I missed when on to became a 100 pips profit trade.
Unfortunately, price nearly hit(but missed) my sell order.
I shall learn from this and place my sell order a bit lenier.
At the same time, this means that I need to widen my stop loss to 20 pips.
New trade currently: I am in the GBP CAd since 1.5990.
YEP, If you checked the charts, its right at the wick of a price action bar.
And I didn't evem waited for PA to form, just placed a buy order at the fibo pivot point.
SKipping candlestick close means that I earn an extra 15 pips.
Trade currently doing well, at 74 pips. However, I see a retracement coming soon.
TP is at next FP, which is R1 @ 1.6080.
Too lazy to post a picture, I need to go to sleep ASAP. You can check out what i'm talking about by dling the indicator and attaching them to the GBPCAD H1 chart.
EDIT: I exited the GBPCAD H1 trade, with 66 pips profit, mainly because I found a better trade on the EUR USD and that I have already seen that this GBPcad trade will reverse soon, so its better to TP now instead of waiting cause I need to go to sleep and I might miss it.
Lets wait for SITG pattern to form in the EUR/USD XD
Entry was placed at the fibopivot line in confluence with the Multiwave W
And multiwave X indicating exhaustion of bearishness
Stop loss : 15 pips]
Current profit 25.
TP : 55 pips ( Long term bearish trend present, so this is probably a retracement on the higher TF.) Fibo S1 line in confluence with SPIO specialf fib plotting method.
RR: 1: 3.6
Note: This trade is a very reckless trade.
I have moved the SL to breakeven.
I know that this is a retracement yet I entered on it.
SITG formation did not form completely.
Reason being: I just wanna place dem trades and go to sleep.
Ciao!
P.S I just increased my capital by 44% in just 3 days.
Since I have an MM of 2% and that my stop loss are measly 10-25 pips.
My average RR per trade is then about 1:5 - 1:12
meaning, for every trade, my account explodes by 10- 24% increment.
woot
EDIT: My trade has hit take profit while I slept of 58 pips, but I realized it could have been 110 pips profits if I had set my take profit higher, more things for me to learn here
Cancelled sharing, I have received numerous complains and voice outs from the other Spio investors, and my father, that I should not be sharing much of my method here.
Therefore, the thread will cease posting tutorials and methods
However, It will still continue to as a journal
On the contrary, I will not be removing the current methods which have already been shared so far, so they are still available. But, this places an end to the tutorials of my system.
No offense but don't think just because we play around with various indicators and other methodologies doesn't automatically mean we base trade decisions on them. I can't speak for Mike but I can say I am a PASR trader at the core but I like to see what others use and do to perhaps compliment what I do or maybe give a slight edge. Be careful ASSUMING things ....you know the saying don't you ?
P.S. how did you learn your methodology....didn't you do a little experimenting yourself ?
No clue why are you directing this at me.... I've been screaming at the top of my lungs for years to stop all the indicator craziness. I am only in this thread because it looked like a scam. I am here in moderator capacity. I have zero interest in the method.
Oh dude I always have an indicator or two on my charts, and I've played around with my methodologies more than I could possibly count. What I'm saying is that as traders we can't ignore price action or what the market is doing, indicators are fine and dandy but just don't trade them!
