The Lattu System (Irony)
As you see I trade the chart with Plain Price Actions and Reversal and Bracket Breakouts. We will name it in short sentence as PPA/123, REV and BB. These are our name of trade entries we will call.
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Okay let me hear you guys comments... I will be back...
Okay I hope you guys got how to enter a trade, but the most important part in our trading is minimize our losses and catch a runner, a trend will become a runner if it goes 50 or more pips in our favor.
We have got 2 kind of stop losses named k7- and B2- stop losses.
I will show you how to use these stops to minimize the risk and let the runner go 100+ pips
The K7- refer to minimize the risk under 5 10 pips and B2- refer to an lock in position in a runner such as if we got a runner of 60 65 pips we will play B2- to lock our position from unwanted spikes around 25 40 pips.
Okay so let's pull up a EUR/USD 5 minutes yesterday chart.
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Okay now you got confused that why didn't I close my position playing k7- at at first spike, but I closed my position after that? That's because it's Irony thread no b/s or christmas tree like charts. I also pay attention to the level lines which we will call them here as LV. We will never close a trade until it test our LV line and break it for 5,8 or more pips and I'm going to show you what happened here.
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The price only broke 1 pip of the level line and retraced, but it was not a powerful retrace, so I decided to preserve at best possible price. I hope you guys got me and your confusion is gone by now.
Peace.
I just want to point out that I trade this method on 5 min EUR/USD chart and my trading day start from one and a half hour before London open till one hour late London close. I trade 10 hours per day it's pretty boring.
Okay so be trading this way you how how many pips I collected on Friday?
take a look at my chart.
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Okay so now you got a question that why did I choose to exit at next REV entry price? The answer is I do not hold a position when a valid REV is broken. Pretty simple eh!
I didn't reenter at the exit price because EU was already moved a lot all day and it was a low liquidity time and I was about to close my trading day.
Peace.
What is the profit with your system?
Well eacreator, your question is already answered in post #5.
I don't hold a position if a valid REV is broken and I also see the speed of the bar at same time too like a hawk. if price is going straight up without a retrace, I don't have any reason to hold that position.
If that REV happened few hours before, I would have exited and opened a long position at same time, but as I said it was low liquidity time and price was going down for so long I decided to preserve after a valid REV got broken.
I also pay attention to level line too but this time I didn't. The LV line testing get 5th seat in a runner and REV is also in 2nd seat. I play at as I see it accordingly.
For example, if price goes in your favor for 15 25 pips and retrace, you need to see the speed if it's too fast, yes I said too fast move you should preserve as quick as possible, and if there's a LV line near your entry, you should not close your position at b/e because we have to let the market test our LV line. if the LV line is also broken for good 5,7 pips, you have to accept the loss and move ahead. just like Wash Rinse and Repeat.
Peace.
Okay talking about B2-, this is our protective stop of sudden spike or power or network failure, and you should never let it hit no more than 5/100, your goal is to test the market and survive from fakeouts. Trust me you will have to test the market 100 times to get a few runners. This market is vast and you never know what will happen next. B2- Should be put immediately after entering a trade, and it should be away from dust.
The K7- is our mental stop. For example, if you see price is going in your favor slowly and then suddenly a one long bar forming with fast speed you should play K7- and close the position as fast as possible and preserve. There's many ways to play K7- and this stop got 5th seat in runners and 2nd seat in testing the market.
Please see the chart, a picture is worth a thousand words.
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And guys don't go after win low ratio, trust me I have a bad win ration but I'm profitable trading this way. I test the market to see if there's going to be a runner or not, if it's a fakeout no problem play k7- and survive at minimal loss. for exaple you test the market 4,6 times in one day and there's no runner happened that day it's okay you lost about 30 40 pips because you played K7- and minimized your losses. But next day you got a runner your loss is wiped with extra 30 50 pips in just one trade. Pretty good eh?
You should never compare a one day trading with a one month of trading statement. One day trading doesn't give you anything but it will tell you that this system doesn't work let's go looking for Christmas tree like trading system. Trust me you will go nowhere if you trade like that if you think you lost 3 days in a row and didn't made a penny in these days. You have to trade this one month and see the monthly statement growing and growing These days and weeks doesn't tell you compare it with monthly trade statement and you will notice that you made 100 trades and there were only 18 runners and all other were fakeouts semi fakeouts losses and 5,10 pips of winners. But you will be amazed that those 18 runners made a killer grow in your trading account. So 18% hit ratio and still profitable, pretty amazing eh!
I will be back...
Peace.
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Hi traders, I'm going to show you a way to trade profitably.
I hope you have seen many snake moving and stylish charts, but my trading method is a little different and it also includes irony because there will be losing days too but there is a plan that you must adopt and stick with it in order to be profitable. Okay so let's pull up a chart.
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