Did you know how to use 3 levels TP for maximum profit?
Why we offer 3 levels for Take Profit?
For partial close, exit from market gradually, to take maximum profits.
How to use 3 levels TP for maximum profit?
You could choose between many strategies for order management:
1. We have only one sold rule, after 20-40 pips close part or half of your order and move SL to breakeven (entry point).
2. After you close half order, let's say after 30 pips, then close the second half on TP1, and go out of market.
3. After close half order, you could close second half on TP2 or TP3.
4. If your account let you trade by 0.03 Lot, you could close every 0.01 on every TP level.
5. If you notice that market is highly volatile and price pass 3 TP levels easy, you could let your profits fly after you already booked some profits.
Conclusion: in Forex Market you can't take everything, choose your strategy and follow, all depends on your risk appetite.
HELPβοΈ HELPβοΈ contact our admin π @nero_c_fx
Why we offer 3 levels for Take Profit?
For partial close, exit from market gradually, to take maximum profits.
How to use 3 levels TP for maximum profit?
You could choose between many strategies for order management:
1. We have only one sold rule, after 20-40 pips close part or half of your order and move SL to breakeven (entry point).
2. After you close half order, let's say after 30 pips, then close the second half on TP1, and go out of market.
3. After close half order, you could close second half on TP2 or TP3.
4. If your account let you trade by 0.03 Lot, you could close every 0.01 on every TP level.
5. If you notice that market is highly volatile and price pass 3 TP levels easy, you could let your profits fly after you already booked some profits.
Conclusion: in Forex Market you can't take everything, choose your strategy and follow, all depends on your risk appetite.
HELPβοΈ HELPβοΈ contact our admin π @nero_c_fx
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Here you will find Account Management , Free VIP Signals , Educational materials for all trader levels, Fundamental Knowledge
Keep following to trade like the Bank
Good Luck
Forex Signals wishing great profitable Week for all Traders
Good Luck βοΈ
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Forwarded from FOREX VIP
There is no "main" secret of success (which greedy millionaires hide), but there are strategies based on the key rules of trading, and they can lead to this success.
β
π¨Don't reinvent the wheel
Beginners combine laziness and irrepressible energy. They are too lazy to read trading tutorials and familiarize themselves with the basics of trading. But the mass of energy, which, together with the money, merges into a black hole, while the trader independently finds his way in the dark. Through trial and error, he will find out that you can't invest 10-20% of the capital in a deal, you can't double rates, etc. π€·π»ββοΈ
β
We live in the Internet age, not in the era of Jesse Livermore, when every trader was a pioneer. It makes sense to use what was invented before us.
β
π¨ Follow common sense
If you want to trade on the lunar or solar cycles, you must courageously overcome this desire. Cut off all questionable systems.
β
Open the "Encyclopedia of Trading Strategies" by Jeffrey Katz and Donna McCormick, browse "Stock Secrets" by Linda Raschke and Lawrence Connors. Be glad that everything has been analyzed before us, including trading on the Sun and Moon.
β
π¨Evaluate the level of risk
Beginners are drawn to high-risk strategies! Yes, there is a chance to swing capital very quickly, but the chance is very small. But the risk of losing the deposit is high. Cold-blooded pros who have allocated part of their capital for the "extreme" can work with such strategies.
β
It is better for a beginner to choose a low-risk trading approach. The main task of a novice trader is to learn how to preserve capital. Work on conservative strategies and feel your financial pain threshold to determine your personal comfort risk level.
β
π¨Determine the trading interval
There are several classifications of trading systems, including by timeframe (the time interval for which the deal is designed).
It is necessary to find out in which timeframe it is most comfortable to work.
β
π¨With or without indicators?
The problem with indicators is that they do not guarantee successful trading.
β
You can use indicators, but you should always remember that this is just an auxiliary tool, and the main one is your brain. Traders who pin their hopes on these "helpers" eventually stop thinking about what the market is punishing them for...
β
π¨Don't reinvent the wheel
Beginners combine laziness and irrepressible energy. They are too lazy to read trading tutorials and familiarize themselves with the basics of trading. But the mass of energy, which, together with the money, merges into a black hole, while the trader independently finds his way in the dark. Through trial and error, he will find out that you can't invest 10-20% of the capital in a deal, you can't double rates, etc. π€·π»ββοΈ
β
We live in the Internet age, not in the era of Jesse Livermore, when every trader was a pioneer. It makes sense to use what was invented before us.
β
π¨ Follow common sense
If you want to trade on the lunar or solar cycles, you must courageously overcome this desire. Cut off all questionable systems.
β
Open the "Encyclopedia of Trading Strategies" by Jeffrey Katz and Donna McCormick, browse "Stock Secrets" by Linda Raschke and Lawrence Connors. Be glad that everything has been analyzed before us, including trading on the Sun and Moon.
β
π¨Evaluate the level of risk
Beginners are drawn to high-risk strategies! Yes, there is a chance to swing capital very quickly, but the chance is very small. But the risk of losing the deposit is high. Cold-blooded pros who have allocated part of their capital for the "extreme" can work with such strategies.
β
It is better for a beginner to choose a low-risk trading approach. The main task of a novice trader is to learn how to preserve capital. Work on conservative strategies and feel your financial pain threshold to determine your personal comfort risk level.
β
π¨Determine the trading interval
There are several classifications of trading systems, including by timeframe (the time interval for which the deal is designed).
It is necessary to find out in which timeframe it is most comfortable to work.
β
π¨With or without indicators?
The problem with indicators is that they do not guarantee successful trading.
β
You can use indicators, but you should always remember that this is just an auxiliary tool, and the main one is your brain. Traders who pin their hopes on these "helpers" eventually stop thinking about what the market is punishing them for...
Forwarded from FOREX VIP
Introduction to the Double Channel Forex Scalper Indicator
The Double Channel Forex Scalper indicator is a great accuracy trading tool that is a combination of three moving averages and buy/sell arrows.
Similarly to all other scalping indicators, this one was also made for lower timeframes (like M5). However, it also works pretty well on higher timeframes too (like H4 or D1).
Simplified trading rules for Double Channel Scalper are following:
A green arrow on the chart suggests the scalping trend is up.
A red arrow on the chart suggest the scalping trend is down.
The Double Channel Forex Scalper indicator is a great accuracy trading tool that is a combination of three moving averages and buy/sell arrows.
Similarly to all other scalping indicators, this one was also made for lower timeframes (like M5). However, it also works pretty well on higher timeframes too (like H4 or D1).
Simplified trading rules for Double Channel Scalper are following:
A green arrow on the chart suggests the scalping trend is up.
A red arrow on the chart suggest the scalping trend is down.