lbranjord
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Hi everyone. My name is Logan Branjord I am a 24 year old musician living in the midwest and touring constanly. Since I will be travelling my posts will be inconsistent, and some trades I am not able to monitor properly due to poor hotel WiFi and time constraints. I will show my current system. Following this weekend I will summarize each day I trade with a post. Here is my journal!
System 3 ducks and a slow stochastic for confidence :smart:
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SMA 60 - candles must be above or below on all three charts
3 hour (oanda does not offer 4 hour, so i look for a strong 3 hour)
1 hour
5 minute
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Entry/Exit :?:
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Enter when 5 minute candle crosses SMA, and breaks through latest support or resistance.
Exit when I see fit. Usually when candle breaks through the SMA for second time, or breaks through previous 5 minute support or resistance
Stop Loss/Target Profit :clover:
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Stop loss is set first, on previous 5 minute support/resistance (Just outside of it so that a candle can bounce off line without setting off my stop loss.) When trade is going well I will move my stop loss to next support or resistance to lock in profits.
Target profit initially is always twice the pips of the stop loss. In strong trends it is more. And if I am monitoring the trade and I see it continuing I reset my target further to let the trade run.
Indicators :!:
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I use a slow stochastic, Bollinger bands, candlestick analysis, and many other things to gain confidence or keep my guard up. I am very loyal to my trading system though and these will rarely cause me to make a decision against it.
WISH ME LUCK! OPEN TO ALL SUGGESTION! :innocent:
System 3 ducks and a slow stochastic for confidence :smart:
-----------------
SMA 60 - candles must be above or below on all three charts
3 hour (oanda does not offer 4 hour, so i look for a strong 3 hour)
1 hour
5 minute
-----------------
Entry/Exit :?:
-----------------
Enter when 5 minute candle crosses SMA, and breaks through latest support or resistance.
Exit when I see fit. Usually when candle breaks through the SMA for second time, or breaks through previous 5 minute support or resistance
Stop Loss/Target Profit :clover:
------------------
Stop loss is set first, on previous 5 minute support/resistance (Just outside of it so that a candle can bounce off line without setting off my stop loss.) When trade is going well I will move my stop loss to next support or resistance to lock in profits.
Target profit initially is always twice the pips of the stop loss. In strong trends it is more. And if I am monitoring the trade and I see it continuing I reset my target further to let the trade run.
Indicators :!:
------------------
I use a slow stochastic, Bollinger bands, candlestick analysis, and many other things to gain confidence or keep my guard up. I am very loyal to my trading system though and these will rarely cause me to make a decision against it.
WISH ME LUCK! OPEN TO ALL SUGGESTION! :innocent: