+366% PROFIT in 6 Months – Golden Pocket Trading Strategy @Chart Champions TESTED

Trading is easy, however, consistently profitable trading is where the difficulty lies. Traders since the beginning of time have tried to come up with a strategy that they could use in order to increase their win rates while minimizing their risk. In this article, we go over one of the ways in which you could do so. We discuss the different indicators, the settings used, and also go over the results. Read on to find out more. 

Indicator Explained 

There was only 1 main indicator used in this trading setup, and it has been explained below in detail. 

Fibonacci Retracement 

The Fibonacci Retracement levels are lines that are drawn on a particular chart so as to try and predict where the support and resistance levels are likely to occur. The levels are based on the Fibonacci sequence and can be used to identify entry and exit points for a trade. There are several Fibonacci levels that are used, but for the purposes of this strategy, we shall mainly be focussing on the 0.618 level, which is the 61.8% level of the lines.

Settings

For this particular trading setup, the default setting was used on the indicator. 

A long was initiated whenever the price tested a support level and began to move back upwards within the support and resistance levels. The stop-loss level was set using the Fibonacci retracement indicators.  

A short was initiated whenever the price tested a resistance level and began to move back downwards within the support and resistance levels. The stop-loss level was set using the Fibonacci retracement indicators.  

The risk-reward ratio was fixed at 1:2. 

Results and Adjustments 

Initial Results 

After a scalping session over past data using 25x leverage, the overall results were: 

Profitability: 366.99% net profit 

Number of Trades: 86

% of trades profitable: 59.3% 

Profit factor: 1.972

Drawdown: 23.16%

Adjustments 

Some additional indicators and settings that could be added in order to increase the win rate and reduce the risk employed are: 

  1. Different levels of leverage could be employed to boost the profitability and/or the win-rate associated with the strategy. 
  2. The take-profit and stop-loss levels could be tweaked to further affect the percentages of trades that were profitable. 
  3. Multiple take-profits or stop-losses could be added to change the profitability or the win rate. 

Conclusion

There are several highly profitable trading strategies that you can use in order to trade the markets and profit, but there are few that are as highly effective as the one discussed above. By implementing it even in its current form, you can make significant profits. You can also tweak the settings and alter the parameters on your own, resulting in a higher win rate and/or profitability. 

Resources: 

  1. +366% PROFIT in 6 Months – Golden Pocket Trading Strategy @Chart Champions TESTED – YouTube 
  2. TradingView Indicator 
  3. Fibonacci Retracement – Investopedia

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