Don_xyZ wrote:It's fairly simple to make 1R a day with this methodology and if this is done religiously, it's 20R a month more or less. Very good prospect for beginners. More advanced traders might shoot for 5R to 10R a day and depending on the MM and size, this could be a millionaire maker.
The only thing you need to watch for is using proper SL level and TP.
Also when the bias is just starting and price is wriggling along the open price.
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Nice Don, thanks for that. I like how just one chart is needed, with a couple of overlay's such as the 8H candle. My Killzone will be in the Asian session, waiting a few hours after the day open, as like you said it just floats along for a while.
I have put this on my list once I am back from my holiday to "just trade" and focus on one concept at a time and find a style that suits me (in reality, one I can master)...
I think the MM will be the interesting part of this to get working now that you have provided the framework on a silver platter