As a member of IMarketsLive, the Ninja team (1400+ members) goes above & beyond to provide support & content to its members.
Coming soon, a Trading Boot-camp will be taking place to help Ninja members decide what style of trading is for them. I have been asked to be one of the ‘Master Traders’ for this project, of course I have no problem with this. Ultimately the target is to provide evidence and confidence to the community that Financial Freedom can be obtained, knowledge is power and knowing how the markets move overall will give you the skills for life!
My trading style has grown as a hybrid method of IMarketsLive TV Educators Christopher Derrick & Stevenson Lindor with my own twist of other methods of Resistance & Support.
There will be no teaching within the blog journals purely an overview of what I like or don’t like with reasoning. Teaching will be done within the Ninja group on IMarketsLive and in my personal private group ‘PardoFX – Analysing Success.’
What will be following is a 3 Month Journal following my trading methods, which I call the BLASH method. It is a simple philosophy dictated by common sense. The strategy overall is simple, ‘Buy Low & Sell High’ but it comes with more stringent confirmations that I should receive before I take a trade. This methodology is applicable across all time-frames. It is purely a Support & Resistance strategy which is more along the lines of traditional or ‘Old-Paradigm’ trading but it is generally Naked without Indicators. My tools of choice are lines and patterns. The point I am trying to get across by doing this is showing that knowledge is power and knowing how the markets move overall will give you skills for life!
Risk management is key in this methodology. I will not risk more than 4% on any trade and generally never more than 2% but please understand if a trade has multiple confirmations I allow myself to increase my risk to no more than 4%.
I will be using a Live account with a starting amount of £1500. Using compounding I would expect a growth of 10% per month but I will be hoping more for 5-8% per week. Using the 10% per month method, month one would finish with a balance of £1650, month two would finish with £1815, month Three would finish with £1996.50. After 6 years at a conservative 10% per month your account would be at £1,443,390. I will set up an Fxbook account linked to my blogged trades.
- Risk to Reward Ratio within 1st Range must be at least 1.75:1.
- At least 5 Confirmations must be seen before a trade is entered.
- Confirmations should be confirmed on a higher time-frame where possible.
- Price must be at the top or the bottom of a range (2 areas of Solid Support or Resistance).
- No more than 2 trades per currency pair with risk involved.
- Ranges must provide solid movement (Supply, Demand, or PRA) in each area.
- I must Only trade in the direction of the trend on the larger timescale.
- Display the core values at all times, Patience, Discipline & Positivity.
Watch out for updates!