CallMeRooster
Newbie
- Oct 10, 2020
- 16
- 5
Hi there fellow bhw members. I thought I'd share another way I make a little money online because you just can never have enough. Also I'm not so good with tech or IM so I don't know if you guys would be interested in knowing what I do and how I do it.
My name is R but you can call me Rooster. u/SupplyAndDemandGuy . I'm a swing trader following basic supply and demand rules.
I thought I'd share my trading journey on this small account I opened in the week so you can get some insight about my thought process, picking setups, how to analyse and how to eliminate invalid setups to trade.
I'll share my analysis of every trade before taking it. This isn't my bills or day to day expenses account so I won't fall under the pressure of taking low quality trades and not a lot of emotion would be attached to it in terms of turning certain targets on a monthly basis.
My trading strategy follows Supply and Demand but a little advanced. I use the Quasimodo(QML) as well with Price Action as the deciding factor. My risk to reward ratio is Risk(1): Reward (3/more). This is to maintain very low drawdown for high rewards in order to remain profitable over a longer period.
For example out of 10 trades,lot size 0.10 if I lose 6 of them with a 30 pip drawdown, it would mean that I've lost -$180 but my profit margin would be up because on 4 trades I'd have made $360. So net profit would be $180.
Starting tomorrow, I'll be posting my full analysis of the pairs I'm interested in trading and I'll share which setups I'll trade if they would still be validated according to my trading rules.
It's nothing fancy or anything like that and I will try to keep things as simple as possible. I am open to questions and of course corrections from traders ahead of me
My name is R but you can call me Rooster. u/SupplyAndDemandGuy . I'm a swing trader following basic supply and demand rules.
I thought I'd share my trading journey on this small account I opened in the week so you can get some insight about my thought process, picking setups, how to analyse and how to eliminate invalid setups to trade.
I'll share my analysis of every trade before taking it. This isn't my bills or day to day expenses account so I won't fall under the pressure of taking low quality trades and not a lot of emotion would be attached to it in terms of turning certain targets on a monthly basis.
My trading strategy follows Supply and Demand but a little advanced. I use the Quasimodo(QML) as well with Price Action as the deciding factor. My risk to reward ratio is Risk(1): Reward (3/more). This is to maintain very low drawdown for high rewards in order to remain profitable over a longer period.
For example out of 10 trades,lot size 0.10 if I lose 6 of them with a 30 pip drawdown, it would mean that I've lost -$180 but my profit margin would be up because on 4 trades I'd have made $360. So net profit would be $180.
Starting tomorrow, I'll be posting my full analysis of the pairs I'm interested in trading and I'll share which setups I'll trade if they would still be validated according to my trading rules.
It's nothing fancy or anything like that and I will try to keep things as simple as possible. I am open to questions and of course corrections from traders ahead of me
Actually, it's the standard modus operandi in this niche. Screenshots are no proof for anything. Stay alert, folks.