My purpose of posting my strategy "Scorpion's Sting" is just to share what i think is worth share. It is my personal strategy and i think it has potential. I named it "Scorpion's Sting" coz Scorpio is my zodiac sign and this strat sting the market for useful trade
I dont exactly know what the ITM ratio is because it will base on your trading habits. I remember that day when i won 16 trades and just 1 loss but my trading habits are very aggressive so i am not as successful as i should be because i trade with anger in same way as im in my real life.
So sharing my strategy is just because i think it may work well for some traders who have patience. If it is not doing well for you its does not mean you started to criticize because i am not taking any money or any benefit for sharing. The profit would be all yours and of course loss too. Demo it for atleast one week and share your results.
Only one indicator is used for this strategy and no more garbage. You just need Retracement finder to install on your MT4 and lets have some tests.
You can see in retracement finder price value in negative or positive. You just have to see the price to approach atleast 180 value +/- that the time to place trace on opening of next candle.
For Call: Value should be at least -180 or more in negative, -200 or above has more chances to win
For Put: Value should be at least 180 or more in positive, 200 or above has more chances to win
If the price cross bolinger bands upper or lower border the chances are even more to win
1 Min Trade : 1 Min Exp
1 Min Trade : 2 Min Exp
5 Min Trade : 5 Min Exp
5 Min Trade : 15 Min Exp
I usually trade 1 Min Trade : 1 Min Exp (coz i could not wait) but some time 2 Min Exp look good, thats your choice. It also perform very weel on 5M Trade & 5 Min exp
One most important rule is the retracement finder candle should be very big as compare to previous one that has more winning chances and always avoid if the price value approach to 180 value by one by one candle of retracement that could be sign of trend. (You can see attachment for better understanding) English is not my native language, may be you could not understand what i mean. Also remember to avoid trade after retracement is found on indicator though you can trade on next candle if all other conditions are met.
Ofcourse you have to avoid trade near news time and on strong trend.
Any addition to this strategy for more success will be appreciated. Many genius people are here and im sure we will have some potential additions/suggestions to this strat which could further make this strategy successful.