Originally posted by Michael Hodges. Click here
for the full review.
This strategy is an ultra-short term trading system that comes close to scalping. It is a disciplined approach to short term trading and one that I think has real potential for significant gains. It is based on a 3 time frame view of the markets and attempts to capitalize on short term market reversals. Traders are instructed to use charts of 1 hour closing bars to determine trend and then narrow their focus down from there. The next step narrows down to charts of 15 minute bars. This step is called the confirmation but I think that is a misnomer. The first chart is for trend and the second chart is projecting the next support/resistance and potential areas for price reversal. The last charts are 5 minute bars and this is the chart where entries and exits are determined.
My Last Word On The Raphael Simple Strategy
Once decoded the Raphael Simple Strategy is one that works. The only negative is that you have to be well versed in trading to decipher the text. Once a trader knows enough about trading to understand what Raphael is saying it won’t matter, they will be able to devise this strategy on their own.