Well, after trying to be the smart guy and beat the markets for many years (and blowing a few accounts) I painfully realized that I am simply not capable finding highs and lows. I needed to change my thinking and go with the markets and not try to hit the highs and lows. That was a huge mental undertaking for me, since I am a “contrarian” by nature.
It took me a good 3-4 years to find a strategy that both suited my trading style but also a strategy that I could translate into absolute rules. I don’t use EAs or other automated trading, but I needed a set of rules that I could follow that would remove my own “biases” and discretionary way of trading. Simply put, I was losing all faith in my own abilities as a trader and I had to find a set of rules that would remove my “own stupid self”. Since then I haven’t really looked back. I am actually stunned by the simplicity and at first I couldn’t believe how well this works. It is actually a matter of “leaving your brain” at the door. If I only had done this exercise 20 years ago…
My strategy; I trade price trends on the weekly timeframe, with the 4HR for entry/exit, SMA100 is my reference and entry of long/short. I have the weekly pivots plotted. Pivots serve as moving SL when price moves too far away from the SMA100, and also as Support/Resistance for new/multiple positions in the same (weekly) wave. Initial SL 2 x ATR, no TP. Position size is 2% of free equity. I trade FX, Indices and Equities, all CFDs.
I am originally from Norway, but I moved to a warmer and better suited place three years ago. I trade full time.
Thanks for the feedback, but I would exit the day trading. Day trading as a trend follower? Not seen that evidence.