Learn a successful trading strategy that gives a high win rate of 60-80% every time, including supply and demand, support/resistance, and drawing trend lines. Stick to one timeframe and focus on 1-4 charts, determine market trends and stick to the rules to succeed.
Maximizing Your Winning Rate in Trading: A Step-by-Step Guide
Introduction: The Importance of Strategy in Trading
One of the biggest challenges in trading is consistently generating profits from the markets. To do this, traders must develop a sound strategy that can help them identify profitable opportunities. In this article, we will share with you an exact trading strategy that has been giving us a 60 to 80% win rate every single time we use it. We will also provide you with step-by-step instructions on how to set up your trading chart and implement the strategy effectively.
Getting Started: Setting Up Your Trading Chart
To begin using our trading strategy, you will need to ensure that the settings on your trading chart match ours perfectly. This includes setting your candles to the hikingashi type and adding the same indicators and scripts that we use. We will walk you through each of these steps in detail below.
Making the Right Settings
Before we can start trading, we need to ensure that the settings on our chart are set up correctly. Here are the steps you need to follow:
1. Set your chart to haken ashley mode by clicking on the bar style icon and selecting hiking ashley from the dropdown menu.
2. Remove all existing indicators on your chart by right-clicking anywhere on the chart and selecting “Remove Indicators.”
3. Add two versions of ATR Allstars and one version of Elite Oscillator version 5 from the Invite Only Scripts section under Indicators and Strategies.
4. Move the oscillator panel to the top of the chart and enable Elite TVR.
5. Adjust the sensitivity of the ili algo to 1.4 or 1.2, depending on your preference.
6. Turn on take profit and stop loss areas, uncheck tp2 and tp3, and set tp1 to 1.5.
Implementing the Rules
Now that your chart is set up correctly, you need to follow specific rules to ensure that the strategy works effectively.
1. Pick a time frame, such as the one-hour or four-hour if you are a beginner trader, the 15-minute time frame if you are an intraday trader, or the five-minute time frame if you are a scalper. Stick to your chosen time frame and do not change it.
2. Focus on only one to four charts at a time to learn the markets’ tendencies and trading patterns.
3. Analyze the market to determine whether it is in an uptrend, downtrend, or consolidation phase. This is a critical step that can make or break the strategy’s success.
The Trading Strategy: Applying Supply and Demand, Support and Resistance, and Trend Lines
Now that you have your chart set up, and you understand the rules of the strategy, it’s time to focus on the actual trading technique.
The first thing to consider is supply and demand. This concept is simple: when there is more demand for a currency, the price goes up, and when there is more supply, the price goes down. You can apply this concept to your trading by identifying key supply and demand levels on your chart.
Next, you need to identify support and resistance levels. Support levels are prices at which buyers are likely to enter the market, while resistance levels are prices at which sellers are likely to enter the market. You can identify these levels by drawing horizontal lines on your chart.
Finally, you can use trend lines to identify the overall trend of the market. A trend line is a diagonal line that connects two or more price points and acts as a visual representation of the trend.
Combining these three concepts, you can identify potential trading opportunities. For example, if you see that a currency is in an uptrend and has reached a key support level, you could enter a long position with a stop loss placed below the support level.
Additional Strategies: Trend Scalping and Toggle Order Block
In addition to the primary strategy outlined above, there are two additional strategies that you can use to increase your winning rate. These are trend scalping and toggle order block.
Trend scalping involves taking numerous small trades in the direction of the trend using the sensitivity feature of the ili algo. This strategy can be useful for scalpers or intraday traders.
Toggle order block is a feature that allows you to visualize supply and demand zones on your chart. You can use this feature to identify potential areas where buyers or sellers are likely to enter the market.
Conclusion: Sticking to the Strategy and Being Patient
To be successful in trading, you need to be patient and stick to a well-defined strategy. By following the steps outlined in this article, you can set up your chart and implement a winning trading strategy effectively.
Remember to apply the rules, consider the supply and demand, support and resistance, and trend lines, and be open to other strategies such as trend scalping and toggle order block. With practice, you can improve your trading skills and increase your winning rate significantly.