I am not new to this forum though it is my first Thread . I will post here my method and also daily update If I trade. It won’t last long I thing, I wish to enter the bigger Babypips world.
I am telling my method step by step.All trades will be done in Demo mode and will trade really hard.
If I see my winrate is 70% and upper,I will use this method to my Live account. espesially Goldenmember,Jwlee and Meihua inspired me to open a thread, I was disturbing them and I am sorry for disturbing, I just wanna to learn.
Timeframe: 15 minutes, It is a kind of remixed method so also the timeframe.
Session: London and NY most of the time.
Lots: 1 lots.
Takeprofit: 20 pips and if goes further then 50 pips, highest 150 pips.
Stoploss: 1:2 ratio. 10 pips stoploss for 20 pips takeprofit,but it must be more that is the takeprofit now is…
Indicators and Scripts:
MA,Information,Buy and sell order, 2MA crossover
(Good Means They are my friend and making good signal for what way I wanna go,if green I will buy,if red I will sell; IF they all say the same thing only.)
I will see H4,H1,M30,M15,M5 for drawing Support and resistence.
Will take MA10,20,50,80
Then will wait for MA10 crossing M20 and also for a nice 2ma crossover signal, Then will see support and resistence line and then information indicator for MACD,STR,EMA boxes says good for M15.
I will place a order with buy/sell script using my pre-instructed takeprofit and stop loss.
Then wait and see 10 minutes and hurrah. If it goes more than I increase the take profit and more hurrah.
When it take profit close and the signal start going reverse then I will open another trade if number 1,2,3 is equal to yes,or just watch.
Why MA10 for 15 minute chart? And what the support and resistance will do?
It is safe to put SUPPORT AND RESISTANCE cause If I know some pattern It will help me a lot for taking disitions .Ma10 is the closest Moving avarage to signal bar,and it is well far from signal also.