1. Stops set at 25 — with up to 7 Pips of “allowable movement” to get your Stop OFF a KEY NUMBER or “Structure Level” (fractal level / hard support or resistance level). Remember — when you put on the Stop / Limit — it puts it in FROM CURRENT PRICE. Not TRADE ENTRY PRICE.
Example: You put on a BUY at 1.3850 and price has moved 5 pips IN YOUR FAVOR. Now you decide to put on the stops and limit of 25 Stop and 10 Limit.
Your STOP will be 25 pips from 1.3855 — so it will be set at 1.3830 which is 20 pips not 25 pips from your trade entry. Your LIMIT will be 10 pips from 1.3855 also. BE AWARE OF THIS!
STOPS AND LIMITS cannot be closer than 10 pips from CURRENT PRICE. So, if you have either set at “10” and you click the button to “set” the Stop or Limit and price moves CLOSER than 10 pips from the prce you clicked, it will not let you “modify the order” — you will have to wait, or click to move the stop or limit to a bigger number away from price so you are more than 10 pips away.
Example: Price is at 1.3830 and you have the Profit set at 10, which will set it at 1.3840. You click the blue button and it puts 1.3840 in the “Profit” box. But price moves UP 2 pips, toward 1.3840. Now the system “sees” you only have 8 pips of room before the Limit setting. You will have to “ratchet” the price UP (away) from current price with the “up arrow” tool on the price box to get 10 pips away so the blue “modify” button will become active again.
2. Target for trade is 5+ Pips away based on 1 or 5 Min Chart based on RANGING MOVEMENT or next Support / Resistance / Fractal Price Action Level.
In other words, you should only take a trade that you can “see” there is “room” for price to move to the NEXT LEVEL of support or resistance before it stops / stalls / changes direction on your trade.
3. Price Action (candles) is “Surfing” the PAC Channel or Bollinger Middle Line or Regression to STAY IN THE TRADE. Meaning, the TOPS or BOTTOMS of the candles are “riding” the line or even gaining “space” away from the line that it would have to cross over, to indicate a direction change and thus a reason to CLOSE the trade.
4. Once your trade is IN PROFIT more the 2 pips — don’t let it go negative.
5. NO HEDGING / STACKING (adding to positive trades) / COST AVERAGING (adding to negative trades) until you have 1000 trades closed in profit.
In other words — ONE TRADE PER PLAY for starters.
6. Watch for TDI to go to 68 (buying) or 32 (selling) AND A REVERSAL CANDLE to exit once your trade is +10 or more in profit. Until then use the “+2 Pips and it doesn’t get to go negative!” rule.
7. Do NOT chase trades after a move is strongly going, after you have exited the trade or when you see it chugging along .. then gains steam … then suddenly “scampers” 15 to 30 pips. This move is likely the STOPS being tripped on traders holding trades against this move and those stops have just enough liquidity to “pop” the price —- and then it’s OVER.
8. DO watch for a GOOD RE-ENTRY point if you missed the first part of the move, or got out of the trade and it’s still showing good signs on the charts that there COULD BE continuation. Wait for a pause / consolidation point. Then look for the NEXT CLEAR TARGET that shows you the reason for getting back in if price moves again in that direction.