I am now going to post the first of my example trades.
This is a Basic level trade.
Each trade is taken live and screen printed as I trade along.
This trade occurred only a few minutes ago.
It is GBP/USD (cable) on a 30 minute chart.
There are 13 charts to this trade - explanations below each chart >>>
By
tymen1 at 2008-10-13
This is a
main chart of course, Basic level trades only use the main chart.
We are going long on a 3 green soldiers pattern.
They are the last 3 candles on the chart.
The 3 green soldiers pattern does
not have to be on the Bollinger bands to be traded. It can be anywhere.
I need a little assurance that this trade will actually work so I have drawn a trend line in blue on the chart.
You can see the trend - it looks promising.
I have also labelled the upper BB - it is opening and looks promising.
OK, thats good enough assurance, lets trade.
The first step is to set up the PCI stop loss.
It is on the chart (can you see it?).
We put this on
before we are ready to enter the trade.
OK, lets go!!