【Casual Full-Time Trader's Trade Commentary】How to Earn Monthly Income from the Market

I am a full-time forex trader named Neko.

As I release my semi-discretionary method N-Method using EA, I will explain the entries of the same method that I have done in parallel with my main trading.

First, the GBP/JPY pair.

The market had moved down sharply since Tokyo time, but I entered a short using N-Method around 5 o’clock.

The image is a 4-hour chart.

As a hint, RSI is below 50 indicating bearishness and has touched 30, but since the trend is in place I ignore it. And as the slope of the middle band increases and the Bollinger Bands expand,

that is where the N-Method signal occurs.

*In the N-Method manual, entries with an EA and alerts with an EA are described to be set on a 5-minute chart, but it’s fine to set them on any time frame. From next time, I will set the EA on a 4-hour chart to make the entry points easier to understand and trade in parallel with my main trading.

As a result, since it was Friday, I closed around 2 a.m. on Saturday without a profit-taking signal, capturing about 400 pips.

Back in 2016 or even earlier, GBP/JPY typically moved 300 pips or more,

so I feel that the range market that persisted from 2017 has ended and a high-volatility market has arrived.

This is a daily chart. The segment where the vertical line extends is where I expanded the Bollinger Bands.

On the daily chart, breaking the middle band signals bearishness, and since the bands were contracting, the possibility of expansion was high, so contrarian trades should be approached with caution.

I strongly feel that for GBP/JPY, the price action is condensed on the 4-hour chart.

Therefore, N-Method traders should focus on the daily and 4-hour charts, and leave the lower time frames to the EA.

Bollinger Bands, RSI, and Heikin-Ashi

The chart settings may seem very simple, but

oscillators have formulas that do not change much, so one is enough.

More importantly, in modern times, simply knowing the market movement in real time is already quite revolutionary.

Heikin-Ashi has become widespread, but at first many people feel “I can win!” and then become disappointed when actually using it in practice.

N-Method provides one answer to that.