= BASIC TECH TIPS =
Hi Guys,
Some of friends ask me about my personal TP and SL, and I already answered it, that mostly i don't use hard TP or SL. But at this post I will show you (for you who don't know yet), how to modified your Fibo Retracement Tools to 'place' your TP and SL also count your RRR this is just simple tips.
Edit your Fibo Retracement Tools, erase all content and put this (or your own text..lol).;
After that, you can put it on your chart, and for example if your MM calculate set your SL to 20 point then you can drag your Modified FibRet from 0 to 100 at 40 point + your pair spread.
When your Indicator Signal show up, and you open your position, just match your modified FibRet 0 lines (ENTRY HERE) to your position, and drag your SL lines to SL - (TAKE PROFIT) lines and your TP to where you like to choose your Risk Reward Ratio 1 x to 5 x.
Like this bellow example picture.
With this simple object tools, you can set your range of SL and TP more flexible according to your trading MM style, you can also take last swing of your renko chart for measure where you should put your SL and where your target TP's
Hope it help and best regard
MTH
Hi Guys,
Some of friends ask me about my personal TP and SL, and I already answered it, that mostly i don't use hard TP or SL. But at this post I will show you (for you who don't know yet), how to modified your Fibo Retracement Tools to 'place' your TP and SL also count your RRR this is just simple tips.
Edit your Fibo Retracement Tools, erase all content and put this (or your own text..lol).;
After that, you can put it on your chart, and for example if your MM calculate set your SL to 20 point then you can drag your Modified FibRet from 0 to 100 at 40 point + your pair spread.
When your Indicator Signal show up, and you open your position, just match your modified FibRet 0 lines (ENTRY HERE) to your position, and drag your SL lines to SL - (TAKE PROFIT) lines and your TP to where you like to choose your Risk Reward Ratio 1 x to 5 x.
Like this bellow example picture.
With this simple object tools, you can set your range of SL and TP more flexible according to your trading MM style, you can also take last swing of your renko chart for measure where you should put your SL and where your target TP's
Hope it help and best regard
MTH