Hey TRO - You would enter anywhere inside the box...
FX Synergy makes this REALLY easy...
- SynergyEUM5Box Trade.PNG (56.07 KiB) Viewed 3086 times
The RED LINE is the SL painted by the trade panel by selecting the SL key on the panel... The Boxes just show that over time price moves into a box... or striking range...
I set my Risk % on the EightsV4 indicator and then I do the same on FX Synergy in the trading panel in the top right...
MO is currently using a hard stop of 3.5 Lines... That is his Space / Risk-Box
FX Synergy makes it even easier by calculating the lot size relative to the stop loss and the trades chosen risk % at current price... So when price is inside the BOX you just hit a market order to sell and the software calculates the exact lot size required for the trade...
So if you are doing well in terms of stop placement like MO is emphasizing and you are comfortable with the risk then you can gear a position that is within your striking range to something higher than your risk box... whilst keeping risk relative...
MO is just applying this indicator to a money management strategy that helps him to quickly calculate lot size on the fly...
I on the other hand am FREAKING LAZY... and have a tool (a very sexy tool at that) that does all of the heavy lifting for me... The Eights indi helps me to place my stop within 3.5 Lines where I'm thinking is a good place to buy or sell...