Don't get me wrong. My Holy Grail is not a 100% right indicator. It's even less than 60% winning ratio. But I have full confidence that my Holy Grail will give me consistent profit in the long run. Here's the character of my Holy Grail:
1. Worked on every instrument. The indicator is not exclusive. It can be applied in futures, stocks, forex, or bonds.
2. Day Trading Indicator. Use it only for Day Trading
3. Price Action Method. No fundamental, or even technical analysis. Purely from Pure Action.
4. No Bias. Don't know, don't care where the market will go. As long as the indicator tell me to get in, I'm in.
5. EMA confirmation. Pure Action only will give me headache when market choppy. With EMA confirmation, I can filter and enter the strong signal only.
6. Price Breakout entry. Looking for price breakout. No fading, Not countertrend.
7. Very Tight Stop Loss. Between 4-10 ticks wide.
The advantage of my pattern is it had a very narrow stop loss, with unlimited profit potential. You may loss 5 times and still can profit with only a single winner. It's also reduce the false signal when market is choppy, volatile, or quiet. Rest assured the signal won't come out frequently on choppy market.
The disadvantage, I haven't figured out the Profit Taking Strategy. But hey, there's a lot of room to improve.
I also have a reliable counter trend pattern as I shared it on at my previous posts. But it's suitable for scalp profit only. Unfortunately I can't share the Holy Grail Pattern as it's consists lot of hard work, timeless backtesting, and dozens of trial error, also money. I must admit I bought the education package which consist the method. But it's already paid off. And I applied it in the raw form.
If you have the experience of finding the holy grail, please share the experience, I'd like to know the other's holy grail characteristic.
Have a good trade :)
No comments:
Post a Comment