I was hesistant to do this! I'm not gonna lie, I was hesitant. Some of you may question what I was hesitant about. I was hesitant about giving out a personal strategy of mine. I'm not big on trading strategies. Why? Because most fail. I have good strategies. I'm not gonna lie. But my fear is that someone may try it, it will fail once and then they bash it. That's a real fear because I know some traders don't have patience enough to give things a try.
It's kind of weird that I am giving you guys a personal strategy I developed early 2017. I used it and made good money. In 2018, I got away from it. That was the biggest mistake of my trading career. Now I had a good reason too. In 2018 I created SLFX and met you all. So, this is me showing you all my appreciation.
I'll tell you how I got started. This strategy was created on AUDUSD. I was analyzing the 1 hour time frame and I was in my 1st position. I notice price made a lower low so I drew out a box barrier. Price broke it and retested it on the 1 minute time frame. I entered another trade on the 1 minute timeframe and every time price pulled back, I kept compounding my position using fibonacci and then, viola! The Box Barrier Method was create. Although it is formally known as the 5 minute strategy, then the 15 minute strategy, the rules I found the rules fit no matter the time frame traded.
Here is a video showing how I trade SLFX Strategy: https://youtu.be/g_7teB4B_cY
No lie, my stop loss was anywhere between 3-5 pips max. I could catch anywhere from quick 20 pips or hold for 100s of pips. Kind of like what I do now. Late in 2017, I knew I wanted to do more swing
and intraday trading so I decided to dedicate the strategy to a higher time frame and found it worked. So, no matter the trading style, swing, intraday, day trading, or scalping, this strategy is the go to for me and I want it to be the go to for SLFX.
There is a catch. You must know trading basics in this order
3. Trend Lines
4. Support and resistance or supply and demand- while these levels are important I am going to say that #3 is optional
5. Are you a trend trader or counter trend trader
6. Your personal analyzing timeframe and entry time frame- this will vary amongst every trader. This dictates your trading style.
7.The rules we use to trade which are break and retest or rejection. In this method we are only looking for break and retest
Please understand that this is a simple strategy. It takes time to draw it out correctly, but here is what you can expect, you can expect minimum drawdown. Price will tell on itself if you are patient enough to wait for you entry. You can expect 2 entries back to back depending on your 1st position. Remember, I am all about compounding profits. The pips are endless when you obtain this knowledge the correct way.
Please remember, you need to know the basics I mentioned above. Some are optional, but what is not optional is understanding price action, trend, and your trading style.