No help required, found M15 straight away really easy and profitable, here is the current method I've been using since 20th November till 14th October ( traded 6 or 7 days ), results are +144% at this time, 37 positions only 4 losers.
M15
Trend :-
LwMa 540, longs above shorts below, don't fight the trend.
Range :-
66LwMa
Envelope 66LwMa 0.40%
Envelope 66LwMa 0.70% ( these vary but use this for EU and GU )
1. So Market is above the 540, so up trending look for longs on pull back.
2. Pull back is to the 0.40% Envelope ( use past performance to better see where to start getting in )
3. Don't try to time a bottom, get in if it moves against you have orders in to take advantage of, your with trend odds are it'll turn back up again.
Exits :-
Generally your looking for the upper 0.40% line, if it takes this out the 0.70% line, but profit is profit take it if in doubt, do try to let them run though.
Stops :-
1. Other side of the 540 with some breathing room.
2. If playing the range then other side of the 0.70% envelope.
Keep them loose, more time for the market to turn, as EJ did with me today, 90% of the time the trend will prevail, 10% it'll change direction but most of those it will bounce enough for you to get out with profit.
Set it up and back test it, averaging down is key, no point holding the market down 40pips and not taking advantage of it, your profit potential is higher and your SL cost lower as it goes.
M15
Trend :-
LwMa 540, longs above shorts below, don't fight the trend.
Range :-
66LwMa
Envelope 66LwMa 0.40%
Envelope 66LwMa 0.70% ( these vary but use this for EU and GU )
1. So Market is above the 540, so up trending look for longs on pull back.
2. Pull back is to the 0.40% Envelope ( use past performance to better see where to start getting in )
3. Don't try to time a bottom, get in if it moves against you have orders in to take advantage of, your with trend odds are it'll turn back up again.
Exits :-
Generally your looking for the upper 0.40% line, if it takes this out the 0.70% line, but profit is profit take it if in doubt, do try to let them run though.
Stops :-
1. Other side of the 540 with some breathing room.
2. If playing the range then other side of the 0.70% envelope.
Keep them loose, more time for the market to turn, as EJ did with me today, 90% of the time the trend will prevail, 10% it'll change direction but most of those it will bounce enough for you to get out with profit.
Set it up and back test it, averaging down is key, no point holding the market down 40pips and not taking advantage of it, your profit potential is higher and your SL cost lower as it goes.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!