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What’s the type of the strategy: scalping, intraday trading, long term trading, etc?
This is an intraday strategy that feeds off of price action signals. From time to time trades might be kept for a couple of days or a week.

What’s the probable risk of the system and the signals, given by it?
As with every forex strategy there is risk involved and nothing is 100% no matter what they tell you. I try to reduce the risks by only selecting the A++ setups, where all the conditions are met.

If you open positions with more than 1 lot, explain the reason for that. Describe, when you open positions with one lot, when with 2 lots and so on. Notice, that describing of using number of lots is obligatory.
I will not be opening positions with more than 1 lot, but as a general rule I never risk more than 2-3% of my account per trade. For example: If my stop loss is going to be 50pips and I trade $1/pip, that would mean that I am risking $50 on this trade +- broker's spread. On a $2000 account that is 2.5% risk, which according to my rules is acceptable. Money management is crucial part trading forex and this must be taken into account by every trader. There will be losing trades, there is no way to avoid, its just that kind of market but we can minimize our risk and make sure we live to trade another day by ensuring we never risk more than 2-3% per trade.

What kind of system do you provide: trending, countertrending, breakout, trading range, hedging etc.?
This is a trading system that mostly provides countertrending and range trading signals around supports/resistance and new highs and lows. There will be some breakout trades from time to time if a long term support/resistance is broken.

Do you use channels or Fibonacci retracement, etc.?
I do use Fibonacci retracements with price action signals. If a pin bar is created at a Fibonacci retracements level AND its a previous support/resistance with space to run - that is a A++ setup.

When do you usually give signals?
There is no one time that signals will be sent out, but since I mostly trade the daily setups, most of the signals will probably come around 10pm-11:30pm EST.

How often do you give signals?
No limit on this either, whenever the great setups presents themselves.

Do you usually open market orders or pending ones, or both?
I usually do not. I usually wait for the price action set up AND wait for it to go in the desired direction before entering a trade.

What methods do use while analyzing the market? How do you use fundamental and technical analysis?
All of the analysis I do is chart work. Trendlines, support/resistance levels, fibonacci retracements and MACD divergence.

How do you react on the news? Do you work when important news comes out?
I usually try to avoid trading around news time.

What is the average term of your trades?
Some of them can last from a couple of hours, depending on what happens, while others can last a few days.

What periods of time you use for analysis of the market?
Since I trade the daily bars, I do my analysis at the end of the EST time (5-6pm)

What tools and indicators do you use for analysis? How do they help you?
No indicators. Price action is the exact opposite of lagging indicators. I do not like indicators as I seem them as telling a story that has already past.

Due to what rules do you open positions? (How do you enter the market?)
Wait for price action signal(pinbar, inside or outside bars) and have it:

1. Off of a trendline
2. Off of a support or resistance
3. Fib confluence
4. MACD divergence

In order to enter a trade we need to have price action signal off of #1 or #2 PLUS one of #3 or #4 to confirm the high probability of the trade.

What rules do you follow for closing positions?
Closing positions depends and is analyzed on a trade to trade basis. If there is a strong support/resistance or trendline I might exit at it, but usually I try to let my trades run.

How do you determine the levels of Take-profit and Stop-loss?
Stop loss is determined by the pinbars, it should be place right under the nose of the pinbar. Take profit see above.

How do you do money management? What’s the risk of every trade?
As I mentioned earlier, never risk more than 2-3% of the total account per trade. This is vital to any trading strategy not just this one.

Do you change your strategy in some way due to the moving of the market? If yes, what were the last changes?
No I dont change my strategy. If the market is acting weird, which happens from to time, for example with the problems in Europe regarding Greece I usually try to avoid the taking trades.

Who can use your signals and who cannot?
Everyone can use these signals, they are very straight forward and I hope that as you take them, you are familiar with the system I am using and you look at the charts and understand why I am taking these trades.

What should be also taken into consideration, while working with your signals?
The most important thing for me is for my clients to understand why and when I am taking these trades as they need to be on board psychologically and not worry about the trades. There should be no emotions involved when placing a trade. The markets are made to feed off of our emotions and take our money. Its us against them.

What other advantages of your trading strategy can you admit?
I trully believe that price action is the best strategy out there, it shows you what the market is doing in real time and that is why I trade it.

Strategy

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2011 +12%     -
Get access to forex trading strategy
function drawChartD() { data.addColumn('date', 'Date'); data.addColumn('number', '$'); data.addColumn('string', 'title1'); data.addColumn('string', 'text1'); data.addRows([[new Date(, ,), , undefined, undefined]]); chart.draw(data, {displayAnnotations:true,allValuesSuffix:' $'}); }
Pips $
Get access to forex trading strategy
Strategy Name ThermoPips
Date Started 2011-07-11
Number of weeks 15
Max concurrent lots 2
Max drawdown for 1 lot 100 (pips)
Min account amount $ 2000
Max drawdown for full amount 25 % OK
Trading currencies EUR/USD, USD/JPY, GBP/USD, USD/CHF, EUR/CHF, AUD/USD, USD/CAD, NZD/USD, EUR/GBP, EUR/JPY, GBP/JPY, GBP/CHF
Pips $
Total +221 pips +$241.3
Total profitability +12.07 %
Trades 5
Profitable Trades 3
Loss Trades 2
Win ratio 60 %
Maximum account level +266 pips +$2288.1
Minimum account level -30 pips +$1969.1
Max loss -45 pips -$46.8
Max loss (%) 2.30%
since 2011-07-29 to 2011-07-30
 
 
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