Trading plan & MMTS

Its been a while since my lost post. Been studying forex real hard.. Below some more good tips Ive learnt through out the weeks.

TRADING PLAN TRADING SENARIOS

1. SET-UP PROCEDURES:

• Review the daily, hourly, and 15 minute charts for market analysis, and to determine trend direction.
• Execute all trades off the 5 minute chart, to get a good entry, with limited risk.
• Tade in the direction of the hourly trend, using the 15 minute chart.
• Monitor all chart time-frames on a frequent basis, to help determine required action.
• Wait for a confluence of events. Give trades a higher probability of success, by executing upon a trendline break and/or pivot point breach, confirmed by other indicators, or candle/chart formations.

2. Trading Scenarios:

• EXECUTE A TRADE, UPON BREACH OF A PIVOT POINT, AFTER THREE CLOSES ON THE 5 MINUTE CHART, CONFIRMED BY AN INDICATOR.
• EXECUTE A TRADE, UPON A TRENDLINE BREAK, WHEN YOU SEE MACD DIVERGENCE,DURING ANY TIME-FRAME.
• EXECUTE A TRADE, UPON A TRENDLINE BREAK, WHEN YOU SEE A 1-2-3 M-TOP FORMATION, CONFIRMED BY AN INDICATOR.
• EXECUTE A TRADE, UPON A TRENDLINE BREAK, WHEN YOU SEE A 1-2-3 W-BOTTOM FORMATION, CON FIRMED BY AN INDICATOR.
• EXECUTE A TRADE, UPON A TREN DLINE/NECKLINE BREAK, WHEN YOU SEE A HEADS SHOULDERS TOP FORMATION.
• EXECUTE A TRADE, UPON A TREN DLINE/NECKLINE BREAK, WHEN YOU SEE A HEADS SHOULDERS BOTTOM FORMATION.
• EXECUTE A TRADE, UPON A TREN DLINE BREAK, WHEN YOU SEE A DOUBLETOP FORMATION, WITH STOCHASTICS OVERBOUGHT.
• EXECUTE A TRADE, UPON A TRENDLINE BREAK, WHEN YOU SEE A DOUBLE BOTTOM FORMATION, WITH STOCHASTICS OVERSOLD.
• EXECUTE A TRADE, UPON A TRENDLINE BREAK, WHEN A PIVOT POINT IS BREACHED, VALIDATED BY A TREND INDICATOR.
• EXECUTE A TRADE, UPON A TRENDLINE BREAK, WHEN YOU SEE MACD NEUTRALIZATION, AFTER A BIG RUN-DOWN, OR RUN-UP IN PRICE.
• EXECUTE A TRADE, PREFERABLY AFTER A TRENDLINE BREAK, WHEN RAILWAY TRACKS ARE FORMED, AFTER A BIG RUN-DOWN, OR RUN-UP IN PRICE.
• EXECUTE A TRADE, PREFERABLY AFTER A TRENDLINE BREAK, WHEN A HAMMER IS FORMED, AFTER A BIG RUN-DOWN, OR RUN-UP IN PRICE.

MMTS - Monika Momentum Trading System:
Works best with the GBP/USD pair.

• Use the 15 min chart for a currency of your choice.
• Find out the high and the low for the 8:30-9:00 time frame.
• Then buy when price goes 4 pips above the high, or sell when price goes 4 pips below
• Do only one trade.
• Do not buy and sell.
• Buy OR sell, whichever comes first
• Do not trade this system, if one of the bars in the specified timeframe is over 50 pips.The market usually breaks after 9 am in the direction in which it will trade most of the day. If it breaks to the high side, expect a day of buying; if it breaks to the low side, expect a day of selling.You can usually grab 20-50 pips by trading this way. Use exit strategies taught in this course. This rule works great on its own but, if you combine other factors such as: reversal candles, trendline break, MACD, you can have a winning trade 95% of the time. I back-tested this rule for every single day of this year, and I trade this system successfully.