Finally, we arrive at our original discussion. The Magic Numbers Strategy. Here is the image of the EURUSD pair in the 30-minute time zone. Whenever you open your program, you will see this image. Tell me if you can predict without any tools, what will happen next in the next few hours? Probably no, unless you are a predictor or a lucky person, and if you want to continue in this way and stay ahead of Forex without any strategy or tools, you will soon lose all your capital. From my point of view, this is a very confusing picture. I always have to use tools so that I can reduce the risk of mistake in my deal and increase my winnings. A successful trader understands the impact of probabilistic science on Forex and try to use tools to increase the probability of wining trade.
We will make the image of the previous page more understandable by adding several Meat Trader tools. In the future, we will add more tools and indicators, but now…
- A separator of day that you see as a vertical dash.(F8>tick Show period separator )
- A 10 pip rectangle in green and a 20 pip rectangle in blue.
- Then we identify all the daily swing’s using the green rectangle in 30min Chart.
As you can see in the picture, in the daily downturn swing, we set the top of The upper side of the rectangle to the highest point. And if the price dropped by 20 pips, we will go into the sale position .10 pips down We put our TP at the lower side of green rectangle. Again this number only for EURUSD and they need to calculate once in a while . You will learn how in advance and professional part of this tutorial
For a better understanding of the method, please note this picture. In the first position, the price goes upwards 20 pips and hits our buy stop order, and we will go into the buy position. Right at the white point that is displayed with the black arrow. After about an hour and a half (3 candle), we hit our take profit target point and we’ll close the deal with 10 pip.
In the second deal, the price goes down 20 pips and hits our sales order and we get into the position of the sale. Right at the white point that is displayed with the black arrow. Less than half an hour hit our take profit point and we’ll close the deal with 10 pips.
You might think that ten pips are small, but believe that if you follow the fundamentals of capital management described in the advanced section, you will be able to quickly become rich with minimal risk. Even some trader looking for only 5 pips .
to check complete tutorial visit the home page https://myvistafx.com