MONEY MANAGEMENT (Stay Long)
100$ Balance Trade Lot size 0.01 = 10 cents.
1000$ Balance Trade Lot size 0.10 = 1 dollar
10,000$ Balance Trade Lot size 1.0 10 dollar
STOP LOSS (Save Equity)
It should be 10% to 25% max of your balance. Total volume of stop losses of all entered trades must remain under this quantity. No matter stop loss volume reaches 25% mark on one trade or several trades. Total calculated volume should be 10 to 25 percent.
TAKING PROFIT (Risk to Reward)
If placing trades with a ratio 1:2 then it should be locked at 3-5 pips after having in profit of 10 pips at least. However Tp1 Tp2 and Tp3 may be set with in this ratio range. A personal or friendly advise is to wait for the first trade to get locked and then enter the second as per price action. In high risk trades entries should be BE ASAP after having 3-5 pip in profit.
ENTERING MARKET (Earning precautions)
Find Support in Bullish trend and Resistance in Bearish trend. I don't enter the trade for the whole day if I don't get the top or bottom. Not trading is also a position that has your equity in your hand. For Intraday work in H1 time frame and confirm it through H4 TF. For Swing work in D1 and W1 time frame.
DOs and DON'Ts (Discipline must)
1)Never trade with your heart, use your brain.
2)Never trade against the trend. Trend is your friend unless it bends.
3)Never over trade, limit it with 10% to 25% loss or profit per day.
4)Be disciplined in your strategy never change your technique if it is 6:10 ratio in profit.
5)Never complicate your trade with more and more indicators combining news reports expert analysis etc etc. Keep it as simple as possible and stay with it.
FOR INSTANT REFERRALS I AM PASTING MY COMMENTS OF 10 JULY 2021
Major Trend Reversals can occur at 1670, 1870 and 2070. Major Retracements can occur at 1823 1918 and 1978 as these are the Fixed major price action points. For the Major Support and Resistance points where price will stay for a while 1750 1778-83(The Great Wall) 1793-97 1800-03 1843 1853.
Thanks n regards
100$ Balance Trade Lot size 0.01 = 10 cents.
1000$ Balance Trade Lot size 0.10 = 1 dollar
10,000$ Balance Trade Lot size 1.0 10 dollar
STOP LOSS (Save Equity)
It should be 10% to 25% max of your balance. Total volume of stop losses of all entered trades must remain under this quantity. No matter stop loss volume reaches 25% mark on one trade or several trades. Total calculated volume should be 10 to 25 percent.
TAKING PROFIT (Risk to Reward)
If placing trades with a ratio 1:2 then it should be locked at 3-5 pips after having in profit of 10 pips at least. However Tp1 Tp2 and Tp3 may be set with in this ratio range. A personal or friendly advise is to wait for the first trade to get locked and then enter the second as per price action. In high risk trades entries should be BE ASAP after having 3-5 pip in profit.
ENTERING MARKET (Earning precautions)
Find Support in Bullish trend and Resistance in Bearish trend. I don't enter the trade for the whole day if I don't get the top or bottom. Not trading is also a position that has your equity in your hand. For Intraday work in H1 time frame and confirm it through H4 TF. For Swing work in D1 and W1 time frame.
DOs and DON'Ts (Discipline must)
1)Never trade with your heart, use your brain.
2)Never trade against the trend. Trend is your friend unless it bends.
3)Never over trade, limit it with 10% to 25% loss or profit per day.
4)Be disciplined in your strategy never change your technique if it is 6:10 ratio in profit.
5)Never complicate your trade with more and more indicators combining news reports expert analysis etc etc. Keep it as simple as possible and stay with it.
FOR INSTANT REFERRALS I AM PASTING MY COMMENTS OF 10 JULY 2021
Major Trend Reversals can occur at 1670, 1870 and 2070. Major Retracements can occur at 1823 1918 and 1978 as these are the Fixed major price action points. For the Major Support and Resistance points where price will stay for a while 1750 1778-83(The Great Wall) 1793-97 1800-03 1843 1853.
Thanks n regards