The idea is simple.
Choose a time frame where you want to trade where the spread does not easily kill your orders.
5m (suggested)
Lower is ok or more at your own demo discresion.
Choose a pa action model to enter. I.e. engulfing candle, elephant bar, inside bar, ring high, ring low, fractal etc., but just choose one.
Use atr sma 10 and use the value as your stop loss and 1 to 1 for tp.
The exercise is, because this is demo.
If you enter a trade and it hits tp, recess for 1h, then repeat.
The moment yous loss, take the opposing direction of the trade same lot size and sl based on the atr you took. Repeat the process if you keep losing until you won.
The idea is not more on being able to make money but in that you will be able to change directions if the price does not go your way. It's a good exercise on letting your winners run and losers to stop.
I personally do the engulfing but i leave it to you to choose.
Choose a time frame where you want to trade where the spread does not easily kill your orders.
5m (suggested)
Lower is ok or more at your own demo discresion.
Choose a pa action model to enter. I.e. engulfing candle, elephant bar, inside bar, ring high, ring low, fractal etc., but just choose one.
Use atr sma 10 and use the value as your stop loss and 1 to 1 for tp.
The exercise is, because this is demo.
If you enter a trade and it hits tp, recess for 1h, then repeat.
The moment yous loss, take the opposing direction of the trade same lot size and sl based on the atr you took. Repeat the process if you keep losing until you won.
The idea is not more on being able to make money but in that you will be able to change directions if the price does not go your way. It's a good exercise on letting your winners run and losers to stop.
I personally do the engulfing but i leave it to you to choose.
Trading is gambling. So gamble responsibly.