THE KING JAMES STRATEGY

5 Keys To Success

1. Without 3 or more confirmations avoid putting yourself in the trade situation.

2. Back testing validates that profit may not occur immediately, but eventually.

3. Always place a stop loss above or below the supertrend trader arrow, Pinocchio indicator or smiley face pinbar.

4. Do not place a buy on a bearish candlestick or a sell on a bullish candlestick.

5. Whenever the RSI gives an alert on an uptrend to sell, then it is a short sell of 10 to 20 pips because it is in an uptrend. However, in a downtrend if the RSI gives you a sell you can hold and that goes for buys as well.

Now, let's begin the path to that mansion, Ferrari and butler! A few simple disciplines practiced every day leads to success - Jim Rohn. Pro traders base their trades on the highest probability to win a trade. They don’t gamble. A strategy is simply organized steps from point A to point B. Though there are no guarantees when it comes to trading, following The King James Strategy can lead to minimal drawdown, ability for multiple positions and sniper entries.

Protecting Profits

“Many receive advice, only the wise profit from it” - Harper Lee. A stop loss is used to limit losses and secure profits on a trade. It is mandatory to apply a stop loss when using The King James Strategy. A stop-loss offers protection just in case price starts moving in the opposite direction of the trade. Additionally, it adds discipline to the trading strategy, helps take emotions out of trading and helps eliminate the need to monitor trades frequently. To use the stop loss effectively apply the bullet points below to each trade.

● Place stop loss 20 to 50 pips away from entry point

● Take Profit 1 20 pips in profit

● Take Profit 2 50 pips in profit

● Take Profit 3 100 pips in profit

● A 20 to 50 pip stop loss should never be reached after going 10 pips into profit.

● Secure some profit

● Move stop loss to 5 pips in profit.

● Move stop loss to 20 pips after 50 pips in profit

● At 50 pips or more move stop loss to 50 pips and let the winning trade run

Stop Loss Avoidance

"There are no losses, only wins and lessons'' - Wallace James. After strategically placing your stop loss, avoid moving it in hopes of preventing the stop loss from being reached. Doing so causes forex traders to become victims of forex stop hunting. “Wait, what is that?"....Just as a tornado destroys everything in its path, forex stop hunting is just as vicious, but on your money.

A forex stop hunt is a massive move by the market makers to seek, find and collect all stop loss orders that are in place. The objective of a forex stop hunt is to wipe out forex traders that have a large negative trade amount. Thus, the more you move your stop loss the bigger you become on their radar. Either let the initial stop loss be reached or exit the trade early to protect your trading account.

There will come a time when your stop loss will be hit. Embrace this moment. Use this moment as a learning tool. Use this as an opportunity to correct your faults and errors. It is only a loss if you don't learn from the event.

Greed

“Do not spoil what you have by desiring what you have not” - Epicurus. Exiting a trade after the daily profit goal has been exceeded adds wisdom to compounding your trading account. Greed is a bottomless pit which exhausts the person in an endless effort to satisfy a need without ever reaching satisfaction. It is perfectly fine to secure some profits, alter your lot size and exit the trade. You can always place another!

Confirmations

Just as a smile implies that a person is in a good mood and a frown shows that a person may be upset, forex confirmations act as evidence to signal the direction price is likely to move. Three or more confirmations are needed before placing a trade. I have provided a confirmation checklist that must be done when using The King James Strategy.

RSI overbought or oversold on the M30 or H1 timeframe

Sell- Price outside of the red Bollinger Band

Buy- Price outside of the green Bollinger Band

Buy- Green smiley face pinbar present

Sell- Red smiley face pinbar present

Profitable candlestick pattern present

Pinocchio indicator present

Supertrend Trader arrow present for buy

Supertrend Trader arrow present for sell

Rejection, Retest and Reaction

Valid Trendline (Two or more touches)

Time Confluence

*Bonus Confirmations: Figure 11 below displays 3 images that will occasionally appear on the forex chart. The first image known as the king's crown will appear anytime a smiley face pinbar is combined with a Pinocchio indicator. The second image is called the king’s compass, this will appear whenever a supertrender trader arrow is combined with a Pinnochio indicator. The third image known as the king’s eye, will appear when a smiley face pinbar is combined with a supertrend trader arrow. These confirmations can be found, slightly above or outside of the green bollinger band. These images symbolize that the king is full of joy! Place the trade to experience his joyfulness.

Establish Your Why

“The more valid reasons you have to accomplish a goal, the higher the chances you will” - Les Brown. There may come a time when you will be challenged in your trading process. It is vital to create a reason to persist despite any obstacle you encounter during your forex trading process. No one believes until it pays off.

Make the mental decision that you will receive your desired outcome. Below you will find an example of a personal statement, trading rules and hyperlink to a YouTube trading affirmation video (reference Figure 11). Listen to the trading affirmations for 21 consecutive days while sleeping to help boost positive thinking and develop a profitable mindset.

Personal Statement Example: I trade because I want financial freedom and time freedom. I trade because I want to be respected amongst men. I trade because being rich is my duty. I trade because I want to eat when I am hungry, drink when I am thirsty and be happy when it is time to celebrate. I trade because I never want to miss another birthday, holiday, basketball game or football game due to not having enough money or fear of losing a job. I trade because the more I relinquish financial control, the more I set myself back. Click here https://youtu.be/8iALhVCLo3c.

See Figure 12 Below

"Most people are one decision away from a life made of money"Unknown. Tracking your trades is the difference between your trading experience being like a rollercoaster or your trading account balance moving upward like an airplane. On the other hand, not tracking your trades is like driving a fast car without seeing the speed. It may be thrilling, but it's a mistake waiting to happen. Do not focus on perfect punctuation, length, grammar or spelling. Just write.

Think In A Certain Way

“All of the L’s have been taken for you” - Wallace James. Habits are easier to abandon today, rather than tomorrow. I plead with you, throw away your old mindset to allow the transformation of abundance to come into your life. Focus on completing the process, rather than the end result. Get serious. Do The King James Strategy and follow it so precisely as if it were directions on a map. Embody the mentality of a king or “whoever you must become”, in order to achieve the success you seek. Only then, you will be able to have the financial wishes and desires of your heart met.

A fixed mindset keeps people stuck like a foot in cement, but a growth mindset allows people to discover new things just like a child in a candy store. Time has tested and proven that failure is a part of the growth process, so instead of altering a proven strategy, see failing as a step, not as the reason to abandon the strategy. Not following directions on a map will get you lost. So, when faced with obstacles, tell yourself that you just have not mastered it "yet". Using the word "yet" symbolizes that despite any struggles, you can overcome anything.

The Recap

"Systems are perfectly designed to produce trackable results" - W. Edwards Deming. The King James Strategy provides a trackable system to help increase profitability. Below, you will find a system to follow before placing a trade each day.

1. Visit forexfactory.com for news updates

2. Complete a Chart Markup

3. View Trading Rules

4. Know Your Daily Profit Goal

5. Have 3 Confirmations

6. Follow The Trend aka Money

In conclusion, more and more money is being printed each day. Embrace the privilege of having complete control over your financial future. You now have instructional information to the wealth skill that offers a limitless supply of money 24 hours a day, 7 days a week. With great detail, all readers have here and now become well informed of the foreign exchange market, how to open a trading account, forex indicators and how to become a profitable forex trader by using The King James Strategy.

A Message From Me To You: A book is only the beginning for a writer. A reader completes it, and you are an example of this.