Since we are using the same strategy throughout the whole worksheet base on the active T session (7:30am to 2:30pm), Money Management remain constant. Every trades are using 3 standard lots.
Risk Management: Candles signal as Stop Loss. Any candlestick signal that is 10 tics or more on risk, our entry are on 50% retracement.
Do you still remember the simple PAPLines-Seasons trading rules? Buy Spring, Sell autumn except Summer SS, HgM & Winter HM & Broom.
Day 1 (7 Dec), price was below previous day S3, HM appeared on opening, your immediate action is to "Buy". When price climb up to R1, it went through and supported, a NT2 signal supported nicely at level.
Day 2 (8 Dec), price opened above previous day R3 on opening, no opportunity to short. The signal came at the later part of the day which stop out.
Day 3 (11 Dec), an autumn SS happened at S1, followed by another spring buy signal at S2. A perfect day.
Day 4, by now, you should be able to see from the chart for all the setups without too much explanation.
Day 5 (13 Dec), after the 4 trades, you take nothing home today.
Day 6 (14 Dec), no trade opportunity for this day.
Day 7 (15 Dec), lots of trades for today. A busy day throughout.
Day 8 (18 Dec), traders pay-back cycle. Too bad, this is part and parcel of a trader's life.
Day 9 (19 Dec), if you are still licking your wound from yesterday, and cannot bring yourself back to the fighting zone, you'll lose out for today. Let go of yesterday (whether win or lose), carry on with your duties as a professional traders, put on your Armour and move on.
Day 10, you can see from the 2 circles that the 2 belongs to PAPLines trade.
Summary: At the end of the 10 trading days, with that 1 big losing day, our trading account is still "POSITIVE" with a gain of US$6,930. Isn't that the most important for a trader?
Simplicity significantly increases the probability of trading success
If there is one dominant factor to increasing the probability of making money consistently in the market, it would be to simplify every aspect of your trading as much as possible.
Trading, perhaps more so than any other field, causes people to over-complicate it. People do all kinds of crazy things when they start trading with their hard-earned money, if they could just slowed down and took a minimalist approach to trading, they would be much better off, both financially and mentally.
If you haven’t truly mastered an effective trading strategy that you can easily explain to someone who doesn’t know anything about trading, you probably don’t have a solid strategy or trading routine worth mentioning.