Hi guys, thanks for reading my posts. My first week has been quite profitable, out of 19 trades 13 were successful, that’s 68.4% success rate. Since I only trade “color options”, I get paid double or nothing on all my trades, taking this fact into account, you can see that I had a very profitable week. I hope this will continue into the next week :) Please follow, like and comment on my posts. Anyway, here is a new set-up that I am looking to trade.
Option 1: when resistance line is crossed by a green candle, I will wait for the first red candle to form and I will place bets that majority of the candles afterwards will be red. (I will trade maximum 10 candles in a row).
Option 2: When red candle penetrates and closes bellow support line. I wil place bets that majority of the candles afterwards will be red. (I will trade maximum 10 candles in a row)
Rules:
1.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
2.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
3.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
Option 1: when resistance line is crossed by a green candle, I will wait for the first red candle to form and I will place bets that majority of the candles afterwards will be red. (I will trade maximum 10 candles in a row).
Option 2: When red candle penetrates and closes bellow support line. I wil place bets that majority of the candles afterwards will be red. (I will trade maximum 10 candles in a row)
Rules:
1.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
2.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
3.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
Trade active
My criteria to open short possition has been met, red candle closed outside of the channel. Now I will place bets on 10 consecutive candles, each bet will be on a red candle. If you don't understand how "color options" work, please ask me in a comments section bellow.
Trade closed: stop reached
Unfortunately, my set-up did not evolve as planed. After entering short position (placing bets on red candles), out of 10 consecutive candles there were more green candles then red ones. So, I had to take my first loss in over a week.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.