and fills our pending order. This is my interpretation of the system and how I currently trade. Thats exactly what were looking for. Once a double top or double bottom occurs, it is often followed by a change in price direction. At this point, we would begin the testing phase by starting with manual back tests. Im calling this the marshmallow effect of trading. Market structure can include things like support and resistance, Fibonacci levels, price action patterns and more. Its a case of security vs maximum profits. However, when that second take profit level gets hit, it usually makes up for the unrealised gains of other trades due to placing it at a level that is a lot further away from your open price. Trading it on lower time frames also works, but as with most strategies, the lower the time frame, the lower the win rate. Having intermediate, partial profit levels allows you to take part of your trades profit when price reaches a certain point. Share your MT4 account login details with.
Even on 50-60 pips pair move! Smart pips collector is a fully automated Expert Advisor for Forex trading. The system does not use elements of risky strategies.
However, this is where its sometimes useful to have a look at the charts using candlesticks since the candlesticks give you a better picture of the extremes of the W and M patterns. Do you feel greedy or fearful when price moves in your direction? Some will look like ugly heifers, but you should always remember to stay disciplined and stick to your trading system rules. The reason we use line charts and not candlestick charts is very simple: it allows us to focus on the things that matter. We need to leave that one marshmallow on the table so it might turn into multiple marshmallows. Youll see that it can give very decent returns. If you find that 60 40 corresponds to better market structure, you should absolutely use those levels instead. In fact, there is an acronym that you will often see in the trading world called kiss. The stronger the initial reaction that forms the nose, the more likely the setup will work. Often, these are not just lines but rather zones where the price has historically seen a bigger activity.