LUCKY #7 STRATEGY daily screenshots

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LUCKY #7 STRATEGY daily screenshots

Postby GMMA-Trader » Fri Sep 05, 2014 6:56 pm

Hello aspiring traders,
Starting Monday September 8 2014, I will start posting signals' screenshots generated by my custom indicators and expert advisor. You'll be able witness the performance of my own trading system called: THE LUCKY #7 strategy.

The aim of this strategy is to grab 7 pips per trade or 14 pips (7 + 7) per trade under specific rules.

Here's the idea behind my LUCKY #7 strategy. First of all, it is a counter-trend trading method. When price trends; it cannot and will not trend forever. At some point, price will hit some support/resistance level (S&R for short). At that critical S&R level, a battle will break out between the Bulls and the Bears of the market; and whoever wins that fight will decide where price will go next.
I use an expert advisor (EA for short) to scan the market and find the currency pairs where price is at strong S&R levels. We all know that, not all support & resistance levels are created equal. So I work with only the strong levels. Once, the EA finds price reaching a strong S&R level, it will place a BUY order if price is at support; or a SELL order if price is at resistance.
Next I wait for two (2) distinct arrows to paint on the chart in the direction of reversal of price. Let's be clear that these arrows are not generated by some moving averages-cross indicator that you can download for free online. These arrows understand the concepts of market momentum, currency strength, and correlation. Screenshots will be provided on a almost daily basis, so you'll be able to see them in action.

Let me repeat myself...I don't use the EA to place real trades. I do that manually. I use the EA as an alert system to scan all the currency pairs (yes I trade all 28 pairs). It is run a demo account. Real trades are entered manually on a real account. Ok, i hope I made myself clear.

Ask any question you like. The strategy will become cleared to you once I start posting screenshots.

Happy trading!


GMMATrader
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Re: LUCKY #7 STRATEGY daily screenshots

Postby GMMA-Trader » Mon Sep 08, 2014 11:41 am

Hello traders,
Today's Monday Sept 08 2014. Like I promised you before, I'll be sharing with you screenshots of signals from the tools that I use to trade my LUCKY #7 trading strategy. The big question now is: "Will the strategy be worth taking a look at or will it crash and burn?" Well, let's see:

Timeframe: M5 (always)
Time format: (broker: IBFX server time)

Currency pair(s) for today: EURAUD

Picture 1: At 04:10, the EA places a BUY trade at 1.38077. This BUY order simply signals me that price have hit a strong support level. Now I need for the Bulls to take over this market before I can buy. I simply have to wait for two (2) UP arrows to paint on my charts.
At 06:00 (to be more specific, after the close of the 06:00 M5 bar), a green UP arrow shows up. (See picture 2)
At 08:40, a yellow UP arrow shows up. (See picture 1)
Now that I have my 2 UP arrows (yellow & green) on the chart, this means that the Bulls have fully taken over this market. A buy order should be entered at 1.3841.

LUCKY #7 MONEY MANAGEMENT RULES:
Emergency stoploss should be placed below support at 1.38009 level. Since the emergency stoploss is greater than 29 pips; a takeprofit of 14 pips (7+7) could be easily achieved. (See picture 3)

So far, this week's pip gain: 14 pips.


Side notes:
For the daytraders out there, of course you could have stayed in the trade and ride the UP move to gain more pips, or you could have reduced your stoploss to achieve a better risk/reward ratio. However at that point, you would not be trading the LUCKY #7 strategy.

Some people would have problem dealing with the Risk/Reward ratio with this EURAUD trade, I know. But you must be aware of the fact that that StopLoss is only an EMERGENCY STOPLOSS. When trading the LUCKY #7 strategy, you will find out that the emergency stoploss will rarely be touched.
However, here's how I deal with a draw-down when my emergency stoploss is more than 25 pips. I divide my stoploss in 3 or 4 parts, and I close 1/3 or 1/4 of my order size respectively.
Example: Let's say my emergency stoploss is 30 pips. I divide 30pips by 3= 10pips. When price goes against me by 10 pips, I close 1/3 of my order. If price goes 20 pips against me, I close a 2nd 1/3 of my remaining order; until I get completely stopped out. That way, I will not feel the burn from a complete 30 pip loss. I get to lose less.
Any question, feel free to ask.
Attachments
picture 1.png
picture 1
picture 2.png
picture 2
picture 3.png
picture 3
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Re: LUCKY #7 STRATEGY daily screenshots

Postby GMMA-Trader » Tue Sep 09, 2014 1:11 pm

Hello traders,
Today is Tuesday Sept 9 2014. If you don't know about "market volatility", check out the price action in the market today. How you perform during these wild crazy market conditions will dictate how good your trading strategy is. Let's see how my strategy LUCKY #7 did.

Timeframe: M5 (always)
Time format: (broker: IBFX server time)
Currency pair(s) for today: AUDUSD

Pic #1: At 0.92588 price level, a buy order is entered; it means a strong support is hit. Now we wait for 2 arrows (1 yellow, 1 green) to paint before we buy.
At 09:05, we have our 2 up arrows (See pic #1, and pic #2). Entry buy order is at: 0.92804. Price immediately went down. That gives us an opportunity to re-enter to get a better fill. If you do that, make sure you close your first order at breakeven once price moves in your direction. Emergency Stoploss is 27 pips. Takeprofit is 7 pips.
Price almost touches the TP level, goes back down, and goes back up again. Once we see price is near our TP level a 2nd time, we move Emergency SL to breakeven.
Trade result for AUDUSD: Breakeven.

Currency pair(s) for today: EURNZD
Pic #3: At 1.55747 price level, a buy order is entered; it means a strong support is hit. At 12:35, a green up arrow is painted (see pic #4). At 12:40, a yellow up arrow is painted (see pic #3). Entry buy order is at: 1.55925. Emergency SL is 28 pips. TP is 7 pips.
Trade result for EURNZD: +7 pips

Currency pair(s) for today: GBPCHF
Pic #5: The 1.50623 price level represents a strong support area. At 08:00, a green up arrow appears (see pic #6). At 08:20, a yellow arrow appears (see pic #5). Entry buy order is at: 1.50968. Emergency SL is 52 pips. TP is 14 pips. Remember the strategy is called LUCKY #7. Once you reach the 7 pip mark, move your emergency SL to breakeven.
Trade result for GBPCHF: Breakeven

Currency pair(s) for today: NZDCHF
Pic #7: The 0.77419 price level represents a strong resistance area. At 12:35, a red down arrow appears (see pic #7). At 12:40, a violet arrow appears (see pic #8). Entry sell order is at : 0.77300. Emergency SL is 14 pips. TP is 7 pips.
Trade result for NZDCHF: +7 pips

Currency pair(s) for today: NZDUSD
Pic #9: The 0.82518 price level represents a strong support area. At 10:05, a green arrow appears (see pic #10). At 10:30, a yellow arrow appears (see pic #9). Entry buy order is at: 0.82751. Emergency SL is 28 pips. TP is 7 pips.
Trade result for NZDUSD: +7 pips

Currency pair(s) for today: USDCHF
Pic #11: The 0.93768 price level represents a strong resistance area. At 09:05, a red arrow appears (see pic #11). At the same time 09:05, a violet arrow appears (see pic #12). Entry sell order is at: 0.93565. Emergency SL is 22 pips. TP is 7 pips.
Price moved around the entry price and came close to the TP level. As per the LUCKY #7 rules, we have to move the Emergency SL to breakeven.
Trade result for USDCHF: Breakeven.

Overall profit for today: 21 pips.
Attachments
pic #8.png
pic #8
pic #9.png
pic #9
pic #10.png
pic #10
pic #11.png
pic #11
pic #12.png
pic #12
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Re: LUCKY #7 STRATEGY daily screenshots

Postby GMMA-Trader » Tue Sep 09, 2014 1:14 pm

The rest of the files.
Attachments
pic #3.png
pic #3
pic #4.png
pic #4
pic #5.png
pic #5
pic #6.png
pic #6
pic #7.png
pic #7
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Re: LUCKY #7 STRATEGY daily screenshots

Postby GMMA-Trader » Tue Sep 09, 2014 1:15 pm

the rest of the pics
Attachments
pic #1.png
pic #1
pic #2.png
pic #2
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Re: LUCKY #7 STRATEGY daily screenshots

Postby GMMA-Trader » Wed Sep 10, 2014 11:12 am

Hello traders,
Today's Wednesday Sept 10 2014. It's that time again. Let's get some results in.

Timeframe: M5 (always)
Time format: (broker: IBFX server time)

Currency pair(s) for today: EURGBP

Picture 1: At 08:15:08, the EA places a SELL trade at 0.80293. This sell order simply signals me that price has hit a strong resistance level. Now I need for the Bears to take over this market before I can sell it. I simply have to wait for two (2) DOWN arrows to paint on my charts (1 RED arrow & 1 PURPLE/VIOLET arrow).
At 11:15 (to be more specific, after the close of the 11:15 M5 bar), a red down arrow shows up. (See picture 1)
At 12:35, a purple down arrow shows up. (See picture 2)
Now that I have my 2 DOWN arrows (RED & PURPLE) on the chart, this means I can sell. A sell order should be entered at 0.80072. Emergency SL is 58 pips. As per the LUCKY #7 strategy rules, if the emergency SL is more than 29 pips, the TP should be 14 pips (7 + 7). Therefore, TP = 14 pips.

Reminder: LUCKY #7 MONEY MANAGEMENT RULES: If TP is 14 pips, once the market moves 7 pips in your favor, move the emergency SL close to breaken level.

Trade result for EURGBP: +14 pips
Attachments
picture 1.png
picture 1
picture 2.png
picture 2
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Re: LUCKY #7 STRATEGY daily screenshots

Postby GMMA-Trader » Wed Sep 10, 2014 11:18 am

Hello again traders,
I had been working on upgrading my Bulls/Bears indicator (Up/Down arrows). Starting tomorrow, you'll be able to see all arrows appear on the same chart. Thanks.


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Re: LUCKY #7 STRATEGY daily screenshots

Postby GMMA-Trader » Thu Sep 11, 2014 12:28 pm

Hello traders,
It's that time again. Thursday, Sept 11 2014. I don't know about you, but I'm having a blast trading forex. I did announce yesterday that I'll be working from now on with the upgraded version of my Bulls/Bears indicator. You'll visually see and understand the potential of this tool. With my Bulls/Bears indicator (UP & DOWN arrows), you can trade with confidence too. If you're a day-trader, you will soon realize my Up & Down arrows will keep you on the right side of the market most of time. There's so much more you can do beyond the LUCKY #7 strategy. I think I'm going to start posting screenshots of my indicator in a new thread for the day-traders out there. In the mean time, here are today's signals of my LUCKY #7 strategy. Give me some feedback, if you're out there.

Timeframe: M5 (always)
Time format: (broker: IBFX server time)

Currency pair(s) for today: CADJPY
CADJPY Pic #1: EA opens a sell order at the 97.555 level, signaling me that price just hit a resistance level. Now once I see 2 down arrows of different colors, I will sell.
At 06:30, a red down arrow appears. At 07:05, a purple down arrow appears next to my red arrow. Now I can sell. Sell order is entered at 97.396. The emergency SL is at the swing high of the day (18 pips). The TP should be 7 pips as per the LUCKY #7 rules.
Trade result for CADJPY: +7 pips

Currency pair(s) for today: NZDCAD
NZDCAD Pic #1: EA opens a buy order at the 0.89782 price level meaning that price is at support. I wait for 2 UP arrows of different colors to appear to buy.
At 11:50, and at 12:30, I have my 2 UP arrows side by side. I place a buy order at 0.90133. Emergency SL is 57 pips. As per the LUCKY #7 rules, the TP should be 14 pips. Once price move 7 pips in my favor, I move Emergency SL to breakeven.
Trade result for NZDCAD: Breakeven.

That's it for today, guys. So far, I've gotten +56 pips in the bag. We'll see what tomorrow brings. Will I come up a winner, this week or will I give every profit back to the market? Stay tuned!


Side note: If you study the pictures I have posted carefully, you would realize that, if you're a day-trader, you could have stayed in the trades much longer and gain far beyond than +56 pips. The worst lost you could have suffered, would be: Breakeven.

Good night, everybody!


GMMA-Trader
Attachments
CADJPY Pic #1.png
CADJPY Pic #1
NZDCAD Pic #1.png
NZDCAD Pic #1
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Re: LUCKY #7 STRATEGY daily screenshots

Postby GMMA-Trader » Fri Sep 12, 2014 8:34 pm

Hello traders,
It's that time again. Let's get the results in.

CADJPY pic #1: A sell order is entered at 97.043, meaning price has hit a resistance level. A purple down arrow appears at 13:20 and a red arrow appears at 14:25. A sell order should be immediately entered at 96.898. Emergency SL is at 22 pips. TP should be 7 pips.
Result: 7 pips.

EURCHF pic #1: Based on what we see in the picture, a sell order should be entered at 1.20879. Emergency SL: 9 pips. TP: 7 pips.
Result: loss of 9 pips.

EURUSD pic #1: A buy order should be entered at 1.29336. Emergency SL: 19 pips. TP: 7 pips.
Result: 7 pips.

NZDCHF pic #1: A buy order should be entered at 0.76520. Emergency SL: 16 pips. TP: 7 pips. At 10:25, 2 down arrows appear, signaling that the Bears have taken over this market. The buy order should be closed immediately.
Result: loss of 9 pips.

USDCAD pic #1: A sell order should be entered at 1.10481. Emergency SL: 22 pips. TP: 7 pips.
Result: 7 pips.

Overall profit today: 3 pips.

Goodnight, everybody!
Attachments
CADJPY pic #1.png
CADJPY pic #1
EURCHF pic #1.png
EURCHF pic #1
EURUSD pic #1.png
EURUSD pic #1
NZDCHF pic #1.png
NZDCHF pic #1
USDCAD pic #1.png
USDCAD pic #1
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This week's profits

Postby GMMA-Trader » Fri Sep 12, 2014 8:43 pm

Hey Traders,
This week from Sept 8 to Sept 12, the LUCKY #7 strategy gained 59 pips overall. If you're a day-trader, and not a scalper, you could have easily pulled more profits by staying in the trades for longer. Just look at the pictures carefully.
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