First thing to do is turn "Idiot Mode" on. (This is not an insult, there really is such a setting in the ...Trail indicator). This will make sure you don't trade when the price is possibly breaking out.
You are absolute right. I just recently realized this.
Secondly, put both the 1 hr and 15 min charts on your MT4 screen so you don't have to switch between time frames. Put the DTB template on both.
It is easier to donate to TRO and get TRO2009_Dashboard_3LZZ. This
indi alone is worth donating for. But of course, you will get much more.
Third, assuming you're demo-ing with MT4 account, when there is s semaphore on the current or previous 1Hr candle and the price is hovering near the 15 min semaphore price, open a New Trade window and input the settings for a pending buy or sell STOP order (whichever is appropriate) using the trigger pice as the entry price. You should be able to enter the pending trade if the current price is at least 4 pips away from the desired trigger/entry price. With practice you will get better manipulating the New Trade window to adjust the entry price based on the changing data on the DTB screen to catch the correct entry/trigger price.
It took a while for it to sink in, but you are better off using limit orders.
When you do, you force the price to retrace back to you before you enter.
This decreases your risk. If you miss a trade because the price just keeps going, dont worry about it. You will get millions of other trading opportunities.
Spikey wrote:If you get the Do Not Reverse warning (idiot mode) you should delete your pending order and open the New Trade window again and get ready for the next 15 min candle, or trade the current candle when it hits the trigger but you should wait until you get more experienced for that.
Not sure what the Do Not Reverse warning is. Unless you are referring to the new BREAK indi added for this Rev.