eFeX wrote:Hello Guys, i have question on screenshot. Maybe someone could answer me, because i'm not sure are we take max 2 trades (one buy and one sell) within 1 hour candle ore we can take more?
What TF are these candles, cant tell by what you posted....
Generally I only want to take 1 trade per hour, but if it goes against me, then I may take a second trade or even a third if it makes sense. It all comes down to trading what you see and relying on statistics: how big is the range is for that hour, how big the range is for the day. Does it work every time, absolutely not. And sometimes you need adjust to what the market is giving. I generally like to set a TP at 10 pips, but if you look at the 1600 candle you can see that you could've taken 5 pips several times, been stopped out at least once for 7 pips and easily taken 15 pips. BUT, you need to watching what the market is doing as you trade the rules (BTW, I do not trade this hour, I just see a whole lot less range in the H1 candle at that time.)
Hope that helps, but I can't make judgement on your chart, because not enough info there to tell what is going on...
-madzi
