Wave Support and Resistance 1
Minimum Balance: $1000 USD
Strategy Description: My Strategy takes BOTH Buy and Sell trades ONLY at every mathematical Key level. So, there will always be trades holding. It takes profit at the next key level and when it reaches, it takes another Buy and another Sell trade.
A given example: 1st key level, 2 buy and sell trades execute. If price continues to go higher to next key level, the 1st buy will hit take profit, and 1st sell will continue holding in negative. Then I will take a 2nd Buy and 2nd Sell, this point, there will be 1 buy trade and 2 sell trades.
If Chart rejects 2nd key level, and reverses back down to the 1st key level, trades will continue holding the 2 sell trades until it’s pre-determined Take profit level (this is to prevent fake breakouts and taking profits too early). Then when it reaches 3rd key level, System E will close the previous 2 sell trades and open 3rd buy and sell trade. So on and so forth.
Wave Support and Resistance 1 takes all trades based on H4 time frame, which means:
- More stable drawdown period
- Lesser trades
- Lesser risks
- Lesser profits
Trading Account Requirements:
- Raw Spread / True ECN account
- Leverage 1:500
NOTE: My strategy uses the same lot size for ALL trades and i do not use very dangerous methods. This strategy works for USD $1000 accounts thus it will definitely work for bigger accounts.