Pyramid trading system
Justin Bennett is a Forex trader, coach and founder of Daily Price Action. He began trading equities and ETFs in and pyramid transitioned to Forex in His "aha" moment came in when he discovered the simple yet profitable technical patterns he teaches today. Justin has now taught more than 1, students from 53 countries in the Daily Price Action course and community. Follow JustinBennettFX Recent Articles. The System pyramid trading strategy is the most lucrative strategy that I have come across thus far in my trading career. The pyramid strategy allows you to do exactly that. Showing you how to do it is one thing. Showing you an example of how I executed the strategy is another system. This will allow you to better understand the concepts and methods once we get to the case study below. The following is a crash course on how to pyramid. As the name implies, pyramiding trading strategically adding to an existing position as a trade begins to move in your favor. Each buy order you see above is for an equal amount. So if you buy 40, units on the initial buy order, you would buy an additional 40, units on buy orders two and three. In order to limit risk you want to move your stop loss up each system the market breaches another key resistance level. But be sure to read the full lesson if anything mentioned above is unclear. The following is an actual trade that I took on AUDJPY. In order for the case study to make sense, we will take a look at each individual level and formation that led to the initial setup. The first and most prominent level on AUDJPY at the time was weekly trend line support as shown below. Notice that we have three well-defined touches off of this support level. Take special note trading this system line as it will play an important role later on. Next up is trend line resistance that is best viewed on the 4 hour time frame. This level will also become an important factor in the next few charts, so be sure to take note of it. System chart above introduces two new factors. The first being the false break of trend line resistance and the second being the short-term trend line support. Like most false breaks, the one that occurred above resulted in a swing in the system direction. In the case of AUDJPY that meant a move lower over the trading few sessions. The chart above illustrates the exact setup and key levels I was viewing at the time it unfolded. Trading retesting this level as new resistance the pair pyramid yet another bearish pin bar. Approximately 24 hours later the market managed a close below the next key level of support. Trading we know, old system becomes pyramid resistance. The chart below shows how I went about entering at various stages of the downtrend. Notice trading I trailed my stop loss as the trade began moving into profit. This gave me a potential 4. As soon as the next 4 hour system closed below support I knew I had an opportunity to pyramid. The second bearish pin bar sell order 2 gave me a great entry point. Because of my initial short position, which was now in profit, my worst case pyramid was a 2R profit. So as you can see I was already in a risk-free position. Soon after the market moved down and took system the next key level of support. Why risk a blind entry, you ask? Because the worst case pyramid at this point was a profit of Remember the weekly trend line support from earlier? This was my final profit pyramid where I closed out all three positions for profit. The final numbers were as follows:. The grand total was pips from all three positions or more importantly, Not bad for a sequence that took just two days from start to finish. As you can see, the Forex pyramid strategy can be extremely powerful if properly executed. The idea that you can achieve unlimited profit potential without the increased risk is what makes this trading strategy appealing to so many traders, myself included. In fact opportunities such as the one discussed above only come around once every few months. Any Advice or information on this website is General Advice Only - It does not take into account your personal pyramid, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this trading general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Daily Price Action, its system, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential trading. You must be aware of the risks and be willing to accept them in order to invest system the futures and options markets. Don't trade with money you can't afford to lose. No representation is being made that any account will or is likely to trading profits or losses similar to those discussed in any material system this website. The past performance of any trading system or methodology is not necessarily indicative of future results. Forex, Futures, and Options pyramid has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results. Private Trading Community Login Sign up for a lifetime membership. Learn to Love Cash: Mastering the Art of Patience. The 5-Step Blueprint for Trading the Forex Market Successfully. Why is pyramid so powerful, you ask? Pyramiding Crash Course The following is pyramid crash course on how to pyramid. The trading illustration shows a pyramided long position. Case Study The following pyramid an actual trade that I took on AUDJPY. The final numbers were as follows: Final Words As you can see, the Forex pyramid strategy can be extremely powerful if properly executed. Your Turn Have you pyramided any trades lately? Share your results or ask a pyramid in the comments section below. Copyright by Daily Price Action, LLC.
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