I've been trading for 4 years and have been finding some success this year and now starting to get comfortable with the setups I look for. I started with FX and later added a variety of CFDs for spx, metals, commodities and bonds. Not here to tell you guys how to trade nor am I looking for critique on my strategy. I posted this on my profile but figured I'd share my story here as it might be interesting for new traders. You can follow my live trading results [here on myfxbook](https://www.myfxbook.com/members/WP-FX/wpfx-oanda-2/3176058), the gain is skewed because of all the deposits and withdrawals but I'm currently sitting around 160%. I got myself into some trouble by shorting bonds too early but got out in the green yesterday. The win rate was 95% before today which was insane and I didn't have a losing trade in months but account preservation trumps fancy stats and holding on for gains that may or may not come. A trading strategy is ever evolving and never finished, especially if you can surround yourself with other like minded traders and you collectively try to get better. I went from basic MA crosses on the 15 and 30min to high probability setups on the weekly and monthly. **My Nr.1 Indicator** The Bollinger Bands got me excited right off the bat when I started backtesting them. My strategy is to look for candles that greatly overextend outside of the upper or lower band and then counter the move as they will often shoot back in like an elastic band as candles like to stay within the bands. I look for these setups on the weekly and monthly chart as the shorter TF's give a lot of poor signals. An overextension on the 1 hour will only need a bit of consolidation and maybe a minor pullback before it can easily continue its trend. It's always hard to say how far an overextension will go (look at the NG rogue wave!) and how long it will take before it pulls back in. To tackle this challenge I scale in with one small position at a time and trading the CFD makes this very easy as you can trade a really small size when needed. I jump in too early almost every single time as I don't want to miss the move but that's fine as the positions are small with wide stops. **Pullback or Reversal** You can't just blindly trade every setup of course but by following these moves on the higher TF's there's ample time to research fundamentals and such to determine where price might go and if we're trading a pullback or reversal. I treat every trade initially as just a temporary pullback, then later on if it's starting to look like a possible reversal I might set some positions at BE to let those ride. **Other tools I use** Another trusted indicator is the MACD-RSI crossover. These are highly lagging but plotting them on the daily and weekly gives me a pretty good sense of whether the directional pressure is up or down. I also use MA's, historical S&R price levels and round numbers that help with the entries and exits. Like all indicators these aren't generating guaranteed setups. It's just another piece of the puzzle but if enough pieces fit together the setups can get a very high probability. **Examples of the Signals or Setups I look for** Here is an [NZD-CAD weekly chart](https://imgur.com/a/6JG66AW) where I marked the MACD-RSI crossovers. The actual cross precedes the reversal and I don't act on that but once the MACD line (red) exits the histogram (grey bars) the reversal happens or is already underway. Since we're looking at a weekly chart we're also working with large moves that can go on for weeks. What I then do is only trade the direction the indicator gives me and keep scaling in and out with small positions and wide stops until the signal becomes weak or risky. This chart is obviously a great hindsight example and not every cross signals a reversal but whenever this setup occurs the bells start ringing and I do my DD. Silver just had a great bollinger setup. Overextended on the [weekly](https://imgur.com/uKGjDbm) and floating outside of the bands on the [monthly](https://imgur.com/ymaPRcc). Still felt a little risky due to my lack of experience with Silver but I scaled in 3 times and caught a large part of that retracement. The challenging bond shorts I started too early and cut yesterday are in hindsight just another monthly bollinger overextension that snapped right back down looking at [Gilt](https://imgur.com/BHuGiQ0) and [Bund](https://imgur.com/JExgS4F). I mostly trade these bollinger setups on the weekly and monthly so they don't occur that often which is why I follow a lot of instruments. I also try to trade with more conviction if I see a good setup.*"There is no point in being confident and have a small position" - Soros* **CFD and Swap** My trading fees are the spread and overnight interest (swap). I have more than 30 instruments open at any given time and a number of them have a positive swap if you trade them in a specific direction. I make an effort to only trade the direction that earns me interest as I hate holding onto positions that eat into my profit every day. I will only trade the other direction if the setup is good enough or if the overall interest on all open positions is positive. **Trading Platform and Hardware** I use MT4 with a regular FX broker which gives me a wealth of pairs to choose from and a CFD for anything else I'm interested in. I follow 12 FX pairs, Ag, Metals, Bonds, SPX, Oil and NG. I have all of those up on a 6 monitor setup just like you see with those pro traders haha. This is my work and hobby so I might as well make myself as comfortable as possible! [Here's a pic](https://imgur.com/IBUpOK6) for the trading rig nerds ;) **Things to improve** Taking profit can be a struggle and is often done too early. I heavily shorted the NG rogue wave from the very top and more recently Corn and Silver. Seeing where they went is sometimes hard to stomach especially since they had a positive swap and there was no need to close the entire baskets. I always tell myself to leave a few with a stop at BE in case the move continues but I often have this overwhelming feeling of being satisfied and drained from the trade after holding for weeks that I just say fuck it and close the whole thing to be done with it and celebrate. The next one probably applies to more of you, I have to watch for getting caught up in the excitement when things are volatile and overtrade SPX which is my favorite daytrade/scalping instrument. My stats show that 25% of this years profit is from trading SPX so it's been successful but it's hard to stop trading when the volatility is there. I have to learn when to shut it down and take a break. **Where to go from here** I'm not a big player so there is ample room to grow and I have been scaling things up lately. I have 2 full days a week behind the charts to trade which will turn into full time in a couple years if I can maintain the consistency. It's already a decent income considering the time I have to trade but as we all know "the sky is the limit" in this exciting industry.