ANATOMY OF DRAINING THE BANK
Posted: Tue Apr 14, 2009 3:14 pm
ANATOMY OF DRAINING THE BANK
1) Only trade if there is a 1, 2 or 3 semafor on the current or previous H1 candle. NO EXCEPTIONS.
SINCE THE PREVIOUS H1 CANDLE HAS A SEMAFOR - GBPUSD IS IN PLAY.
2) After you see the semafor on the H1 chart, look at the M15 chart for the long(light blue) and short(pink) triggers based on TRO DYNAMIC FIBS SR TRAIL indicator.
3) When price touches the trigger you enter. DON'T THINK, JUST ACT!
4) Only ONE TRADE PER M15 CANDLE. If price goes against you, just wait.
5) If price went against you and makes a new dynamic sup/res level, get ready to enter at the trigger. If you can't see how this works, then DO NOT TRADE IT. I have entered up to 3 times.
6) What's the STOP LOSS? The stop loss is your maximum allowed loss per trade based on your money management.
RISK = POSITION SIZE * STOP LOSS
STOP LOSS = RISK / POSITION SIZE
7) What's the TAKE PROFIT? You take what you can. I usually take 5+ pips and leave more on the table.
Try this method using a micro lot or 0.1 mini lot. Trade it this way until you feel comfortable and are profitable on a consistent basis. Just trade it, AS IS, and don't add anything to it to improve it. You'll be amazed at how profitable a simple method can be.
YOU DON'T HAVE TO SWITCH TO M5, YOU CAN USE THE TRO MULTIMETER CANDLE COLOR.
BUT ONE MUST DO IS TRADE WITH THE PRICE DIRECTION AT THE TIME. IF D1 AND H1 ARE GREEN BUT PRICE IS GOING DOWN THEN YOU SHOULD BE SHORT. JUST BE CAREFUL.
1) Only trade if there is a 1, 2 or 3 semafor on the current or previous H1 candle. NO EXCEPTIONS.
SINCE THE PREVIOUS H1 CANDLE HAS A SEMAFOR - GBPUSD IS IN PLAY.
2) After you see the semafor on the H1 chart, look at the M15 chart for the long(light blue) and short(pink) triggers based on TRO DYNAMIC FIBS SR TRAIL indicator.
3) When price touches the trigger you enter. DON'T THINK, JUST ACT!
4) Only ONE TRADE PER M15 CANDLE. If price goes against you, just wait.
5) If price went against you and makes a new dynamic sup/res level, get ready to enter at the trigger. If you can't see how this works, then DO NOT TRADE IT. I have entered up to 3 times.
6) What's the STOP LOSS? The stop loss is your maximum allowed loss per trade based on your money management.
RISK = POSITION SIZE * STOP LOSS
STOP LOSS = RISK / POSITION SIZE
7) What's the TAKE PROFIT? You take what you can. I usually take 5+ pips and leave more on the table.
Try this method using a micro lot or 0.1 mini lot. Trade it this way until you feel comfortable and are profitable on a consistent basis. Just trade it, AS IS, and don't add anything to it to improve it. You'll be amazed at how profitable a simple method can be.
YOU DON'T HAVE TO SWITCH TO M5, YOU CAN USE THE TRO MULTIMETER CANDLE COLOR.
BUT ONE MUST DO IS TRADE WITH THE PRICE DIRECTION AT THE TIME. IF D1 AND H1 ARE GREEN BUT PRICE IS GOING DOWN THEN YOU SHOULD BE SHORT. JUST BE CAREFUL.