Talking about profit
OK I will let one of my BIGGEST secrets out of the bag
Never really understood why , but every fx pair , futres or stock moves in certain increments
For es it is 5 point blocks , gu 30 pip blocks and eu 30 pip blocks.
Set up mml so your average days range is divided into 3 and play between them using them as ' battle line'
it sao happens that todays mml were in 30 pip octaves and provided very nice s/r launch zone for trades using a combo 30 pip blocks / vsa and mml
I will try and elaborate on this tomorrow as US market progresses.
I think that fx is somewhat limited to what it can do in a day by world banks etc .....so days range will always be about 120 to 140 pip
This is why I sometime may take 25 pip profit and wait for next trade , specially in a sideways market , 2 trades x 25 pip better than one trade of -25 lol
OK I will let one of my BIGGEST secrets out of the bag
Never really understood why , but every fx pair , futres or stock moves in certain increments
For es it is 5 point blocks , gu 30 pip blocks and eu 30 pip blocks.
Set up mml so your average days range is divided into 3 and play between them using them as ' battle line'
it sao happens that todays mml were in 30 pip octaves and provided very nice s/r launch zone for trades using a combo 30 pip blocks / vsa and mml
I will try and elaborate on this tomorrow as US market progresses.
I think that fx is somewhat limited to what it can do in a day by world banks etc .....so days range will always be about 120 to 140 pip
This is why I sometime may take 25 pip profit and wait for next trade , specially in a sideways market , 2 trades x 25 pip better than one trade of -25 lol
Disliked1st what is profit .. if I ever get any I will let you know about it ...lol
2nd stops
stops are something that are a tough one. One thing I really like about TG is that they have a tool built into the software that acts much like a chandelier stop. It is awesome and has helped me a lot. However for those without TG I have attached a chandelier stop for mt4
setting atr is 21 (the smaller the atr seting you use the tighter the stop will be) , it shows initial stop and how to trail your stop and keep you in the trade for as long as possible ,...Ignored
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