A Super Simple Scalping Method w/ more setups then you can shake a stick at
My name is Futurestar and I have decided to share a trading system that I had stumble across that has tons of setups on a daily basis and if executed properly has a high win rate and should be extremely profitable. I will call it the JK Way to pay respect to the guy who taught this system to me.
Disclaimer: I have not gone live with this system yet!!! However, in the 6 months that I have been perfecting these methods. I have been extremely pleased with the results.
What I look to gain from this is through sharing and teaching I look to gain a better understanding of what I'm doing and in turn become a better trader.
With that being said, In the next day or so I will try to load a few charts with trades that I have taken over the past couple of day and explain the rules of the system as well as the setups that you should be looking for. I hope this is as fun for you as it will be for me.
Flaming of me or others of any kind will not tolerated!!!!! I will always encourage a healthy debate b/c through challenge we grow. But, I have a low tolerance for negativity and "hateration" as they call it. lol lol
Last edited by futurestar; August 6th, 2013 at 07:52 PM.
Reason: Added sentence
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Here are some of the primary things that should be known about the system.
Platform- I use Think or Swim but, it is not necessary for you to use this. Your current platform will work just fine
Instrument- I have been using this system with the ES & Yen. I have also heard it works will on the Dax, and other instruments. However the time frame (ticks) have to be adjusted to correlate with the volume candles
Timeframe- I will be using 533 tick chart over a 2 day time frame
Indicators- There is only one. Just standard Volume bars at the bottom of your screen
Tools- There are 2. I have a specially configured Fibonacci retracement tool & A Fibonacci extension tool
Other- The only other things that has been added to the chart are midpoints dots that are used to help me measure trades and recognize consolidation points.
So here is what your a plain chart should look like:
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Triggers- I use volume to help determine where I should enter. There are 3 thing to remember about high volume in consolidation is that signals either a market reversal, its a midpoint of a market run up, or the mid point for a market run down.
Entry- I enter the market when I have a high volume initiating or completion candle going into/coming out of a swing point.
Exit- Exits are executed based on target projected from the Fibonacci retracement/extension tool
You will become more familiar with the exits and entries as I start posting charts of my trades. But that's it!!!!
Trade Goal: My goal is to net about 3 - 5 pts a day
Last edited by futurestar; August 7th, 2013 at 12:22 PM.
Reason: Fixed picture
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