Revisit your previous success

I thought it might be a good time to actually bring up some of my posts from the past.  For the first time, I started reading some from last year.  I want to start to repost some in an effort to capture the hope and success of past.

From January, 2006:

This week was my most profitable since I started "the project" 5
weeks ago.  I profited 289 pips for a total of $2450.  This was a 22%
increase of capital. 

By week, here are my profit % of balance:

week 1    +6.5%
week 2    +7.0%
week 3    -0.5%
week 4    -2.0%
week 5    +22.0% 

I
made a lot of my trades this week using the 30, 60 and 240 minute
charts of 5 currency pairs: EUR/USD, USD/JPY, USD/CHF, GBP/USD, and
GBP/JPY.

I relied on making trades near or at support or
resistance mostly using CCI, RSI, and momentum as confirmation along
with a couple of other indicators.  I don't know if you would call this
a trading system but nevertheless, this has worked for me over the
weeks.

1.   Identify support/resistance on 240 minute or daily chart
2.   Draw upper/lower trendlines on RSI and CCI indicators of 30/60/240 minute charts.  
3.   If bounce off CCI trendline, take the trade direction of bounce
4.   Confirm furthur with RSI and momentum
5.   Place stop (1 pip + pip spread) above resistance.  If the stop is
at a round number move the stop another pip; same process for support
6.   Use fibonacci or 8/21/50/100/200 EMA's to set target price for exit

This method is nothing new or exciting.  I'm applying very common principles here.

I hope everyone had a great trading week.  Let's do it again on Monday.  Have a good weekend.

http://www.forexproject.com/Blog/Investing_and_Trading/Week_5_Performance/

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