This is very simple, but rewarding...
Hello my friends. I was thinking about trading again, I wanted to post something very easy to trade, for small accounts specially. Or for those who wish to try doubling the account OR wanna go PROP FIRM trading... We all know these.
- I'll use my old "blue indicator" which can be found in my first thread.
- We will need to use tick charts! Sadly MT4 does NOT have tick charts, so...
- Thats all.
Check this first chart. Let's say we will simply mark lower & higher points on my indicator.
How would you trade this? Well let's say we will use 5m chart.
That's disgusting... It can't be done on 5m chart. What about 1m?
It's much better. Yes... But still... Screw it, let's go for 50 tick chart.
This is much better. You will see those moves "inside" even 1m timeframe. I know it can be used on m1, I simply say this is better. Your stoploss could be lower than 5 pips. For smaller account that YOU want to double, lovely thing.
Now! GBP/USD H1 chart with small zone. It works most of the time. If not... Well you would take 5 pips stoploss. Oh is it too much? Well yeah, go and use SL 15 pips and TP 25... Or 1:1? SL & TP 15 & 15? Annoying, right? How would this look on tick chart?
Before doing that... You might want to ask me, if buy was possible, before price broke it down. Yes it was... Here..
About the sell... First one was here.
Everyone got this? If you get what I mean, You will completely crush prop firms....