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My system is based on the use of technical analysis and intermarket analysis. And to those of you that don't know the meaning of both technical analysis and intermarket analysis, Technical analysis is the study of price action ( currency movement) through the use of charts and other indicators that are derived from the price action ( exchange rate). Intermarket analysis is the use of asset classes to find truth in the market's. Example using the crude oil chart to confirm a move in the usd/cad pair. I also use bond's, stock's, commodities, to know what market environment we are in and what to trade at the time. I am a trend trader and I use 8 hour, daily, and weekly charts. I also use Bollinger bands, Stochastics and commodity channel index these
are my main tools. And wave patterns mainly a 123 wave pattern that I use to define a market turn. And a wave pattern that I call 123 c which stands for a continuation wave pattern and this is not Elliot wave never worked for me. My risk and lot size is based on the distance from where the chart says I have to place my stop and when I say the chart says I mean there is a technical level or area on the chart that says if this price is breached the market is going the other way but if this level exceeds 300 pips the trade will not be taken. And I just don't place a 300 pip stop. Example if I'm getting into a trade Eur/usd and my entry is 1.4567 and support or the support that I use based on market conditions is 1.4390 that is where my stop is placed but it will not exceed 300 pips. My lot size is based on how far my stop has to be placed away from entry and the most we are willing to risk is 20% so we decide how much we can risk based on our risk and that is 20%. So the closer our stop is to our entry price the more lots we can purchase but never to exceed 3 lots. My system may give a signal at the most three times a week but these are high probability trades and also captures large price moves. And I dont use market orders we get in at our price. Take profit levels are determined by price action I am a firm believer in letting profits run and cutting losses short. And I will send a alert if anything changes after trade is open.
Trades can last from days to weeks. We are trend traders.
I have been a active trader for the last 9 years and I am very disciplined when it comes to sticking to my trading rules. That is the most important ingredient.
RLSTRADING LLC :HEAD TRADER: ROD SMITH
[email protected]

Strategy

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2011 +0.4% +1.9%   +14% -
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Pips $
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Trial (7 days): $15 Month: $99
Strategy Name Rlstrading79
Date Started 2011-06-27
Number of weeks 17
Max concurrent lots 3
Max drawdown for 1 lot 300 (pips)
Min account amount $ 5000
Max drawdown for full amount 25 % OK
Trading currencies EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD, NZD/USD, EUR/JPY
Pips $
Total +610 pips +$610.33
Total profitability +12.21 %
Trades 34
Profitable Trades 28
Loss Trades 6
Win ratio 82 %
Maximum account level +610 pips +$5610.33
Minimum account level -116 pips +$4884
Max loss -237 pips -$237
Max loss (%) 4.70%
since 2011-08-01 to 2011-09-08
 
 
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