[B]Time for next chart.[/B]
Having entered, we no longer need the Keltner bands.
So we toggle to our 2nd 5 minute chart, the starc bands chart >>>
By tymen1 at 2008-07-24
On this chart the Bollinger bands are in [B]royal blue[/B] and the starc in [B]dark green.[/B]
To give clarity, I have use Microsoft Paint to shade the starc band area in light grey.
Using Microsoft Paint, I have constructed a white dot inside the red entry candle. This white dot shows our entry point of 94.
According to the [B]UM[/B], we set our first stop loss 10 pips away, that is, at 84.
(remember, we are going long or up.)
[B]
Rules :[/B]
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if the price action hits our stop loss, then so be it, we have a 10 pips loss. We then need to deal with the retraces.
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if the price action goes our way (up) by 5 pips (to 99), we enter a second amount [U]and also[/U] double our stop loss (because we now have 2 amounts) [U]and [/U]move this double stop loss to [U]break even[/U].
This break even point is 94!! (where we started).
So we do two actions - an extra entry and a stop loss move.
Later I will show how to do this very quickly on the GFT platform.
Sorry, I cannot show this on other broker platforms.
If the price action goes against us and hits 94, we will still sustain a spread loss, but that is of little concern.
OK, now study this chart and wait for the next exciting chart!! 
