This a method that I have devised using different lot sizes for different conditions of the market.
IMPORTANT NOTE:
This method is NOT for currency crosses. I have only used it for indices, commodities, metals etc.
Anything but the currencies.
INDICATORS:
Support and Resistance (Barry) (Fractal Levels)
RainbowMMA_07
Average Range Multi
Conditional Lots:
We use 3 different levels for lots.
These values are as weights
Minimum= 1
Medium= Minimum * 1.5
Maximum= Medium * 1.5
They all inrease by %50 of the previous level
So if your minimum lot size is 0.04, medium would be 0.06, maximum would be 0.09
Trading Rules:
Recommended TF is 5 minutes, but you can trade any TF you wish. I personally prefer 5 minute time
frame.
We always have 5 minute TF and next 2nd TF chart open at all times.
So if you are trading 5 minute TF you also need the 30 minute TF in front of you.
If you trade 15 minutes than you would also need 1 hour as second chart etc...
From now on I will always use 5 minute as trading TF. You can subsitute this TF with your own
preferred trading TF.
Lots Rule:
Longs: Price above Rainbow in both timeframes, Lots = Maximum
Price below Rainbow in any of the 2 time frames and the price above the Rainbow in the other
TF, Lots=Medium
Price below the Rainbow in both timeframes, Lots=Minimum
Shorts: Price below Rainbow in both timeframes, Lots = Maximum
Price below Rainbow in any of the 2 time frames and the price above the Rainbow in the other
TF, Lots=Medium
Price above the Rainbow in both timeframes, Lots=Minimum
Important Note: When the days range approaches towards the levels shown by the Average Range Multi
indicator, we always use minimum lots because there is not much room to go for that day.
Entries and Exits (London open till New York close)
We enter long when the price crosses above Resistance Line (1 pip + Spread), with Lots using the lots
rules. Stop loss at Support Line (-1 pip).
We enter short when the price crosses the below the Support Line (1 pip), with Lots using the lots
rules. Stop Loss Resistance Line (+1 pip + Spread).
We put take profit level of %50 of Average Range Multi.
We enter better stop loss when the Support Line in long trades move in our favor.
We enter better stop loss when the Resistance Line in short trades move in our favor.
IMPORTANT NOTE:
This method is NOT for currency crosses. I have only used it for indices, commodities, metals etc.
Anything but the currencies.
INDICATORS:
Support and Resistance (Barry) (Fractal Levels)
RainbowMMA_07
Average Range Multi
Conditional Lots:
We use 3 different levels for lots.
These values are as weights
Minimum= 1
Medium= Minimum * 1.5
Maximum= Medium * 1.5
They all inrease by %50 of the previous level
So if your minimum lot size is 0.04, medium would be 0.06, maximum would be 0.09
Trading Rules:
Recommended TF is 5 minutes, but you can trade any TF you wish. I personally prefer 5 minute time
frame.
We always have 5 minute TF and next 2nd TF chart open at all times.
So if you are trading 5 minute TF you also need the 30 minute TF in front of you.
If you trade 15 minutes than you would also need 1 hour as second chart etc...
From now on I will always use 5 minute as trading TF. You can subsitute this TF with your own
preferred trading TF.
Lots Rule:
Longs: Price above Rainbow in both timeframes, Lots = Maximum
Price below Rainbow in any of the 2 time frames and the price above the Rainbow in the other
TF, Lots=Medium
Price below the Rainbow in both timeframes, Lots=Minimum
Shorts: Price below Rainbow in both timeframes, Lots = Maximum
Price below Rainbow in any of the 2 time frames and the price above the Rainbow in the other
TF, Lots=Medium
Price above the Rainbow in both timeframes, Lots=Minimum
Important Note: When the days range approaches towards the levels shown by the Average Range Multi
indicator, we always use minimum lots because there is not much room to go for that day.
Entries and Exits (London open till New York close)
We enter long when the price crosses above Resistance Line (1 pip + Spread), with Lots using the lots
rules. Stop loss at Support Line (-1 pip).
We enter short when the price crosses the below the Support Line (1 pip), with Lots using the lots
rules. Stop Loss Resistance Line (+1 pip + Spread).
We put take profit level of %50 of Average Range Multi.
We enter better stop loss when the Support Line in long trades move in our favor.
We enter better stop loss when the Resistance Line in short trades move in our favor.
I would suggest we quote him otherwise he might not see it... This is also happening in my threads.. since I am not subscribed to them and check manually...