Hi Bashir,
Can you please copy and paste your latest rule for trading this system? For some reason I cannot see any picture and attachment since the forum went down yesterday.
Thanks
Hi thepoint, i recomment u not spend any time on the last method, the lastes method what i have posted with video is the best , and more suited to new traders and have a very good risk to reward ratio, and i dont see any more benefits in using those 2 first methods.
There where a few flaws in those methods, and those have been sorted out with new method.
But here are the rules for the OLD OLD OLD method, no people dont get confussed here:
Bashir Naimy's method
This is a modifed method of my original method, this one works better
and will have higher hit rate,thats from my own experience.You can combine this
with my first method that i posted, so u basicly have 2 methods in one.
For this method you need 6 charts:
The 5 most importent charts are:
1min chart with slow stochastics and 89exponentiol moving average and a 15exponentioal moving average.
3min chart with 20simple moving average .
10min chart with slow stochastics and 20simplemoving average.
30min chart with slow stochastics and 20simle moving average.
144tick chart with 89exponentiol moving average
There are a few cardinal rules that you MUST never go against.
1:Never trade against the 10min stochastics,NEVER EVER
and especially if 30min stochastics are also going lower.
ALWAYS trade with the 10min stochastics
2:When only 10min stochastics is on your side and not the 30min, then use fewer
contracts and go light,and consider taking profits sooner, dont hold for homeruns.
3:Never go long if the price is below the 1min 89expon ma, and never go short
when price is above the 89expon moving average.
4:never go long when 1min charts slow stochastics is overbough and never
go short when 1min chart slow stochastics is oversold.when i mean oversold, when stochastics is
below 20 or above 80.
Before i tell you when to trade i want to tell when not to trade, cause those times when u are not supposed
to trade u will loose money.
You must all be wondering why i have 20simple ma on the 1+10+30min charts.The reason is a follows,the 20simple
ma on the different timeframes works as very good support and resisance points and they are very strong.
You dont want to trade when price is trapped betwen the different timeframe's 20simple ma,let me explain.
If the price is at 10000 and above the 1mincharts 89expon ma, but the 3minchart 20simple ma is at 10030 and
10min chart 20simple ma is at 10060 and 30minchart 20simple ma is at 9950 then u know that u must NOT trade.
Cause price is now trapped betwen those moving averages , and everything inbetwen is just chopp and will kill you.
When price is ABOVE ALL RESISTANCE then u can start look for long buys
when price is BELOW ALL SUPPORT then u can start look for short sells.
what i mean with resistance and support is the 20simple moving averages on the different timeframes, u never want to be inbetwen
those moving averages, it will just kill you.
So lets imagine that price just moved above all resistance and is rallying, u first want to see the price above the 1minchart 89expon ma,
then u want to wait for price to go down allitle, u want to price to be close to a support area,either the 1minchart 89expon ma or
144tick chart 89expon or the first 20simple ma that was a former ressitance that now is acting as support.
U then wait for price to reach on of those levels, and then make sure that the 1minchart slow stocashics is oversold, then go long.
If only 10min is on ur side, then go light, if both 10 and 3min is with you then go heavy.meaning do more contracts.
And the same method works for shorts.
Here is how i take profit when trading:
When going long and both 10min and 30min is on my side, i do 3 contracts and my stop is always 30 ticks, i sell first contract at +15 and then
i move my stop to -12 behind entry, that way i cant loose any money at all, no matter what happens, now i have a calm mind, the last contact i
sell at +45 or if the stochastics are looking toppy.
when going long and only 10min is on myside i do 2 contracts, and sell at +10 + 35,whenfirst target is hit i move my stop to -8 and then i cant
any money and dont worrie to much about the trade.
Its a good way of doing it,and since the method have a high hit rate, its more then enough.
U should not trade more the 1 contract pr 5000usd in your account, just good moneymanagment otherwise losses will make u chase and
revenege trade.
I hope this is a good enough explenation.
Stick to these rules and u will do great, if u dont follow the rules u will loose all ur money, thats how easy it is, if u get borred then go
out and get some fresh air, dont start looking for trades when there arent any.
With kind regards
Bashir Naimy
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WIth regard
Bashir naimy
