Quote:
Originally Posted by Aaron
Hi Pip Chaser,
I understand most of it regarding 5 & 50 EMA at close, but just a couple of questions I have.
When do you enter the trade? Straight after the new Daily candle is formed? What time does your new daily candle form? I am with FXDD and need to check this out unless you know.
Secondly, can I have an example of the S/L and T/P. I don't understand what you mean by take the 5 or 10 day-RR = 1:1???
Thanks Pipchaser  |
My new daily candle starts @ 00:00 GMT. That is time I trade. I look at the previous candle close for the signal.
The ADR calculator will provide pip values based on X number of days. I am using the previous 10 days for both my T/P & S/L. So if this value is 150 pips, then that is what I use for the T/P & S/L from my entry.