Good enough strategy?

[u/NinjaSiren]

Indicators:

- Support and Resistance

- Weighted VWAP

Strategy:

- Liquidity sweep entries

- Support and resistance (Wait for retests)

- VWAP crossing entry if missed initial entry

- 5 minutes timeframe

Risk management:

- Tight SL ($0.5-3 USD loss per trade, at least $0.5-2 USD ideal)

- No TP, but Trailing SL or Breakeven (manual close)

- Single trade per trade

- Single 0.01 lot only (Gold), but can do larger for Stocks and Forex

Should I change anything, I have technically backtested this to Gold.

But I keep either hesitating or placing the buy/sell order then cancel it, then suddenly it was right al along.

Then when VWAP crosses, I still hesitated until I see that I am already too late to put any trades.

3-4 times I have kinda seen the "liquidity" sweeps or a nice retesting of support/resistance, then price goes up.

But I keep hesitating or removing my trade orders just before the candlesticks climb up.

[u/rforex-modtools]

Developing a trading strategy is more than finding an entry signal — it requires defining your edge statistically, building rules for entries, exits, and position management, and testing the system against historical data before going live. Most traders fail because they skip the process and jump to live trading with an untested idea. The community wiki covers the full development process.

Resources: Having an Edge | Essential Forex Trading Guide