Start of My Trading Journey: 1-minute Scalping of GBP/USD (only "W" pattern)


Today is the 1st of April 2021 and I've decided to start something special. The reason is that after over a 1.5 years of trading with demo accounts, in crypto and forex worlds, even programing trading bots, I still haven't found MY STRATEGY, which I would be satisfied with and follow 100%.

That was until now. I've tried all the time frames and all strategies, read a million stuff on trading and realized that the most suitable strategy for me has to be something simple and that I can control the most. I also realized that I really need to know if my strategy is profitable the same day, not in weeks or months. That's why I actually always just trained on 1m timeframes as you get to see the widest variety of scenarios. I actually started to believe that a trader who trades only on 1h timeframes can lose years of training time to understand the charts in comparison to 1m-slpers.

I'm pretty a maniac when I put my focus to something - I've been literarily 1m scalping GBP/USD all day, everyday over a year now on a demo account.

After seseeing all the scenarios I can see that there are certain patterns with an extremely high win rate. I chose my most favorite one and that is "W" pattern. After trading over 20 trading pairs every day, I also realized that the secret of "FOCUS ON ONE THING" really applies to trading as well when it comes to the QUICKEST path to mastering. That's why I reduced also the amount of trading pairs I trade - actually I just trade 1 and that is GBP/USD. I chose this one because it has a nice price action from many aspects such as volatility, candle lengths, etc.

And what is the reason I started this steemit account? Well it's pretty simple. I realized that the second most important thing after the maximum FOCUS on a simple strategy, is the ability to actually REALLY follow the plan like a robot. A smallest deviation makes a huge difference in the profit/loss ratio. It's actually the hardest part of my trading so I figured that if I had to public all my everyday trades, I would be somehow fced not to try "this-and-that" trarade out of my trading plan. I would actually really need to enter a trade only thin my strict rules ththat sum up at the end again. .

I don't know if anybody will actually even see my posts here but if you do and you see a trade of mine that didn't follow the following rules, pls feel free to scole.
NOTE: ma20 is a simple moving average 20 As I mentioned, even after over a year of "all-day-every-day scalping", I'm still such a noob that I cannot even breakeven. My dream is to one day be at least slightly profitable at the end of every week - simply be on the positive side of the balance sheet..
My Strategy:

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That's it. Simple as that. You're welcome to follow me on my journey. I'll try to post every day.

DISCLAIMER: I'm not a financial adviser and this is not a financial advise. Remember, most traders lose money.

Wishing you a great trading day,
Magnus Bestest


Comments 1


First, educate yourself about trading, do enough practice on trading and avoid scams; check it here https://scambrokersreviews.com/forex-scams/eurotrader-little-transparency-from-this-offshore-broker/ . Don’t invest all your money in the first trade. Review the daily and weekly charts and find a style that seems well supported and get in. Finally, control your emotions on trading time.

08.07.2021 08:50
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