ElonMusksTradingBot

Elons Tesla Strategy

Éducation
FX:EURUSD   Euro / Dollar Américain
Hey there,

After a few requests I have decided to post a tutorial to my strategy and how I trade - along with some mistakes you can try and avoid!

Q: What Indicators do you use to Trade?
I use RSI (not for oversold and overbought conditions) - Instead I look at the divergence or convergence of the signal. This can be performed by drawing a trendline from the highs and then from the lows. Divergence generally means short entries and convergence the opposite. However this is not a signal - but instead a confirmation - This is what all Indicators should be used for, Confirmation ONLY!

I also use the MARSI - this is another great confirmation indicator and helps a lot with making the perfect entries.

Finally using the Visible Range Volume Profile is a really handy tool to figure out the point of control, this is generally considered the pivot point of a trend or trend change.

Q: So how do you make your entries?

First of all, scrap the 1 Minute, 5 Minute, and even 15 minute. 30 Minute is the absolute minimum timeframe to reduce signal noise - I personally love the 4hrly with the 1hrly for my entries.
I also only enter trades when a 4hrly trendline is being touched. If using a xxxUSD pair - I consult DXY to find the general direction, and consider a bounce. If a bounce does not look viable and my MARSI gives me a sell, as soon as the trendline is broken and CLOSED (this is important to minimise fakeouts) - I will take my entry.

Q: How do you manage your risk?

By trading at trendlines, it allows for stops to be tighter minimising the risk of each trade. I only trade a single Major pair at a given time also incase a freak event happens. Only trade pairs at a 4hr trendline, even if you believe confluence will pull the pair of choice in the chosen direction.

Q: Any Other Tips?

Take a look at EXY, AXY, ZXY ect if entering a pair of that type - its so useful! Also, if you miss an opportunity - theres normally always a retest, just be patient

I hope you find this strategy useful!

Elon <3
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.