Quoting mikejodyDislikedOrangeRoshan,
I'm just beginning reading this thread, but I'm wondering how the above method is working for you. Do you really set take profit of 5 and stop loss of -25? Surely you will get a stop loss every now and then, and you would have to have 6 wins to every one loss to make any real pips. Are you indeed getting these? LOL, have you tried it?
Just so I understand, you place a limit order to go long at resistance (top of the closed candle) and you place your take profit at + 5 + spread + 1.
You also place a limit order to go short at support (bottom of closed candle) and you place your take profit at +5 + 1.
Is this all correct? NOPE. Stop order, limit order is for reversal at least in MT4
Thank you.
MikeIgnored
Change Your Thinking. Change Your Life - JD