Hi everybody,
I create this thread because some Simpletrader.net subscribers ask me to do it. As I have to deal with a lot of regular questions and emails now (it's not a problem, I'm sincerely always pleased to answer), I chose to create this thread for the current subscribers to my signal (with Dom's approval).
Don't see this thread as an advertising, I don't want to convince you to take my signal. What I want is just to reply collectively to my subscribers if they have questions, it could be more handy for everybody.
---=== Trading system information ===---
I'm a naked trader (I trade without indicators). I use the only reliable information on Forex : the Price Action.
I trade only the Weekly, Daily and H4 charts focusing on very high-probability setups depending on price patterns (pinbar and engulfing bar) found around significant S/R levels.
It's a swing manual trading discretionary system. I don't take a lot of trades (average of 4 trades per month) but it's always high-probability setups in order to earn money consistently. I trade this system successfully since 3-4 years now.
Be aware that my system is a swing trading system, so I can take only few trades depending on the Market state. If there are a lot of consolidation/ranging periods, it's not a problem for me to not take any trade during 1 or 2 weeks for example.
I prefer to trade less and better than overtrade to lose money. Not trading in bad Market conditions is making money too. But be sure that every trade I take is a high-probability setup with high winratio (around 80%).
Of course, stoplosses are systematically used for every trade.
This system relies only on technical information, I don't care about the news event (except for major news like NFP or currency rates modification). The fundamentals are in the charts. It's the key precept of the technical analysis theory. All is in the charts.
My system doesn't change over the time because it uses deep price action properties which never change despite of the market conditions.
All technical details of my trading system are available on my website : http://www.beta-trader.com/heavy-tra...m-description/
---=== Money management ===---
I never risk more than 2% per trade. The lot size is always calculated relating to the stoploss position to never risk more than 2% per trade : the money management and the risk involved are constant.
In order to use proper and efficient money management on the Forex, I use constant risk exposure for every trade. As nobody is able to know in advance if a trade will be a loser or a winner, it's normal to treat every trades with the same risk in order to earn money consistently over the long run.
I can have a maximum of 4-5 trades opened at the same time but it's very rare.
It is recommended to have a minimum account of $3000. Since I can take weekly trades sometimes (with potential wide stops of 400-500 pips), to be able to set the risk to maximum 2%, your account has to be minimum of about $3000 with a broker trading the micro-lots (0.01 lots). The risk of using an account a lower account is that you could miss some of my trades (mainly the weekly) or take trades with a risk higher than 2% depending on the copier configuration.
---=== Drawdowns ===---
My theoretical maximum drawdown can be around 10%. But I never did more than 6-8% in practice (3-4 consecutive loser trades as you can see on my Historical Myfxbook account).
---=== Assets ===---
I trade these pairs : EURUSD, EURJPY, EURGBP, EURCAD, EURAUD, EURNZD, GBPUSD, GBPJPY, GBPCHF, GBPCAD, GBPAUD, GBPNZD, AUDUSD, AUDJPY, AUDNZD, AUDCAD, AUDCHF, USDJPY, USDCAD, USDCHF, NZDUSD, NZDJPY, NZDCAD, NZDCHF, CADJPY, CADCHF, CHFJPY
I can trade these too but it's really rare :
SILVER, GOLD, USDSGD, SGDJPY, AUDSGD, EURSGD
---=== Risk multiplier ===---
I have regular questions about the risk multiplier in my mailbox :-)
My advice is that it's better to use only 1x risk in my point of view. However, it depends on your drawdown endurance. I wrote an article about it here : http://www.beta-trader.com/how-much-...an-you-endure/.
If you are able to endure a max theoretical drawdown of around 20% (historically never below 12-16% as I never gone below 6-8%), you could use a 2x multiplier but you must assume this big risk exposure.
I strictly discourage using my signal with a risk multiplier of 3x. For me, a trading system with more than 25-30% of drawdowns is a loser one.
---=== Extra info ===---
My historical account (USD) : http://www.myfxbook.com/members/beta...orical/1182264
My master account (EUR) : http://www.myfxbook.com/members/beta...ly--h4/1182199
My Twitter : https://twitter.com/Beta_Trader (@beta_trader)
---=== IMPORTANT NOTICE TO READ ===---
My trading system is no more in progress since few years, it's fully completed. I don't need trading advices. I spent so much time in front of my charts, live trading and backtesting, I don't care at all what people can think about me and my trading style. It's called the confidence.
Concerning the eventual worries about one particular trade, when you see a single trade, I see one trade belonging to a larger trades set. When I take a trade, I don't care if it's a loser or a winner. What is important is knowing if the current trade fits my system criteria. After, the probabilities do the rest...
I'm sorry if you think I'm rude, but I prefer to be honest from the start.
Don't hesitate if you have any question,
Betatrader
I create this thread because some Simpletrader.net subscribers ask me to do it. As I have to deal with a lot of regular questions and emails now (it's not a problem, I'm sincerely always pleased to answer), I chose to create this thread for the current subscribers to my signal (with Dom's approval).
Don't see this thread as an advertising, I don't want to convince you to take my signal. What I want is just to reply collectively to my subscribers if they have questions, it could be more handy for everybody.
---=== Trading system information ===---
I'm a naked trader (I trade without indicators). I use the only reliable information on Forex : the Price Action.
I trade only the Weekly, Daily and H4 charts focusing on very high-probability setups depending on price patterns (pinbar and engulfing bar) found around significant S/R levels.
It's a swing manual trading discretionary system. I don't take a lot of trades (average of 4 trades per month) but it's always high-probability setups in order to earn money consistently. I trade this system successfully since 3-4 years now.
Be aware that my system is a swing trading system, so I can take only few trades depending on the Market state. If there are a lot of consolidation/ranging periods, it's not a problem for me to not take any trade during 1 or 2 weeks for example.
I prefer to trade less and better than overtrade to lose money. Not trading in bad Market conditions is making money too. But be sure that every trade I take is a high-probability setup with high winratio (around 80%).
Of course, stoplosses are systematically used for every trade.
This system relies only on technical information, I don't care about the news event (except for major news like NFP or currency rates modification). The fundamentals are in the charts. It's the key precept of the technical analysis theory. All is in the charts.
My system doesn't change over the time because it uses deep price action properties which never change despite of the market conditions.
All technical details of my trading system are available on my website : http://www.beta-trader.com/heavy-tra...m-description/
---=== Money management ===---
I never risk more than 2% per trade. The lot size is always calculated relating to the stoploss position to never risk more than 2% per trade : the money management and the risk involved are constant.
In order to use proper and efficient money management on the Forex, I use constant risk exposure for every trade. As nobody is able to know in advance if a trade will be a loser or a winner, it's normal to treat every trades with the same risk in order to earn money consistently over the long run.
I can have a maximum of 4-5 trades opened at the same time but it's very rare.
It is recommended to have a minimum account of $3000. Since I can take weekly trades sometimes (with potential wide stops of 400-500 pips), to be able to set the risk to maximum 2%, your account has to be minimum of about $3000 with a broker trading the micro-lots (0.01 lots). The risk of using an account a lower account is that you could miss some of my trades (mainly the weekly) or take trades with a risk higher than 2% depending on the copier configuration.
---=== Drawdowns ===---
My theoretical maximum drawdown can be around 10%. But I never did more than 6-8% in practice (3-4 consecutive loser trades as you can see on my Historical Myfxbook account).
---=== Assets ===---
I trade these pairs : EURUSD, EURJPY, EURGBP, EURCAD, EURAUD, EURNZD, GBPUSD, GBPJPY, GBPCHF, GBPCAD, GBPAUD, GBPNZD, AUDUSD, AUDJPY, AUDNZD, AUDCAD, AUDCHF, USDJPY, USDCAD, USDCHF, NZDUSD, NZDJPY, NZDCAD, NZDCHF, CADJPY, CADCHF, CHFJPY
I can trade these too but it's really rare :
SILVER, GOLD, USDSGD, SGDJPY, AUDSGD, EURSGD
---=== Risk multiplier ===---
I have regular questions about the risk multiplier in my mailbox :-)
My advice is that it's better to use only 1x risk in my point of view. However, it depends on your drawdown endurance. I wrote an article about it here : http://www.beta-trader.com/how-much-...an-you-endure/.
If you are able to endure a max theoretical drawdown of around 20% (historically never below 12-16% as I never gone below 6-8%), you could use a 2x multiplier but you must assume this big risk exposure.
I strictly discourage using my signal with a risk multiplier of 3x. For me, a trading system with more than 25-30% of drawdowns is a loser one.
---=== Extra info ===---
My historical account (USD) : http://www.myfxbook.com/members/beta...orical/1182264
My master account (EUR) : http://www.myfxbook.com/members/beta...ly--h4/1182199
My Twitter : https://twitter.com/Beta_Trader (@beta_trader)
---=== IMPORTANT NOTICE TO READ ===---
- As a subscriber to this signal, you have to systematically copy the values of the Stoploss and the TakeProfit. This is mandatory. Not using Stoplosses on the Markets is insane from a risk management perspective. If you don't do it, you have to assume your responsabilities.
- I'm a swing trader and I like high-probability setups. This means, I don't take a lot of trades during the year. You have to be aware of that to avoid asking me : "have you stopped trading ?", "when will be the next trade ?", ... You have to understand that nobody is able on the Market to tell in advance when the setups will print. And keep in mind that I'm always trading, always looking at my charts. If I don't enter the Market, it's because I don't like his mood and prefer to wait good setups. If one day, I will stop trading, you will be noticed.
- Think again before subscribing to this signal. It is not necessarily designed for small acounts like $5000 (even if technically it's not a problem). To be sure that it's interesting for you, you have to calculate the potential income related to the signal fee. For example, in 2016, if you had a $5000 account, it was not worthy because I did 13%, so you gained $650 but the signal fee was $1000 for the year. It was not profitable in this example. However, it becomes profitable for an account of $10000 for example. For these little accounts, a MAM/PAMM solution will come this year.
- If you want to reach me quickly for some reason, to ask me something or to insult me, please use my direct email address (available on my website). I try to come here regularly but I have other stuff to do, so I will not be able to be very reactive in every case to read your messages.
My trading system is no more in progress since few years, it's fully completed. I don't need trading advices. I spent so much time in front of my charts, live trading and backtesting, I don't care at all what people can think about me and my trading style. It's called the confidence.
Concerning the eventual worries about one particular trade, when you see a single trade, I see one trade belonging to a larger trades set. When I take a trade, I don't care if it's a loser or a winner. What is important is knowing if the current trade fits my system criteria. After, the probabilities do the rest...
I'm sorry if you think I'm rude, but I prefer to be honest from the start.
Don't hesitate if you have any question,
Betatrader
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