Now I will start showing real-time example step by step with you.
Let us start by this trade
Short AUDUSD next week, small lot
I will use 5000 units in Oanda. $.50 pip value on this trade.
See chart. RSI 81.
Going short with no take profit or stoploss.
Pay attention I do not use Stoploss anymore. I either leave it open, or scalp it ..how? take 20 pips profit, then wait for another entry. ofcourse it might reverse and I do not get any more opportunities, but that's it nothing is perfect. you need to time your exit with some market sense and rsi reading and overall trend can help you.. and shout "Exit, the longer term trend is against you.. take little profit" or "Stay in.. it's a reversal"
Short AUDUSD 0.8800 $0.50pip value
Please do not trade this in less than 5K account.
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