Hello Traders,
As Promised I told you all I was going to create a new video on how you could trade and manage my signals. So here we go! :)
My Signals & How You COULD Trade Them!
Each signal has the following information
1) Pair
2) Direction (Buy/Sell)
3) Entry Price
4) 3 different Take Profit Targets
5) Stop Loss
Pip Rang - Depending On The Pair
TP 1: 20 - 40 Pips
TP 2: 50 - 80 Pips
TP 3: 100 - 160 Pips
SL: 45 - 70 Pips
I Don't Like Pairs with SL 55 - 70 Pips / What You Can Do
1) Don't Trade Those Signals/Pairs
2) Set A Soft SL at 40 Pips and 50 Pips and if hit scale out part of your lot size to min your possible loss.
If price doesn't take out your Hard SL and comes back to our signal entry you could consider a re-entry and lot size be = to what was scaled out (Advanced Traders Only)
How you COULD Trade
Just get into the trade mod your SL and TP after
1) Place 1 Order - Set Your SL and your TP to TP1 (Be Careful)
2) Place 1 Order - Set Your SL and your TP to TP2 - Close to a 1:1 RR
3) Place 1 Order - Set Your SL and your TP to TP3 - Scale Out
4) Place 3 Orders - Set Your SL and a TP Target for Each Order (Use Caution)
Once TP1 is hit, move SL to +5 pips in profit. This removes all risk and locks in a litte profit to cover spreads. (from YOUR entry NOT signal entry)
Once TP2 is hit, move SL to where TP1 was!
Once Price gets about 1/2way between TP2 and TP3 move SL to where TP2 was!
Scaling Out (A Must)
1) When TP1 is hit remove 1/3 of your lot size
2) When TP2 is hit remove 1/3 of your starting lot size
Remaining 1/3 will either close at TP3 or at your SL in profit
ALWAYS ALWAYS ALWAYS USE PROPER RISK MANAGEMENT
NO MORE THEN 2% OF YOUR ACCOUNT BALANCE PER TRADE IS IDEAL
NEVER RISK MORE THEN YOUR WILLING TO LOSE
As Always Make It A Great Day, A Profitable Week, & Happy Trading! :)
~ SpiffyPips ~
As Promised I told you all I was going to create a new video on how you could trade and manage my signals. So here we go! :)
My Signals & How You COULD Trade Them!
Each signal has the following information
1) Pair
2) Direction (Buy/Sell)
3) Entry Price
4) 3 different Take Profit Targets
5) Stop Loss
Pip Rang - Depending On The Pair
TP 1: 20 - 40 Pips
TP 2: 50 - 80 Pips
TP 3: 100 - 160 Pips
SL: 45 - 70 Pips
I Don't Like Pairs with SL 55 - 70 Pips / What You Can Do
1) Don't Trade Those Signals/Pairs
2) Set A Soft SL at 40 Pips and 50 Pips and if hit scale out part of your lot size to min your possible loss.
If price doesn't take out your Hard SL and comes back to our signal entry you could consider a re-entry and lot size be = to what was scaled out (Advanced Traders Only)
How you COULD Trade
Just get into the trade mod your SL and TP after
1) Place 1 Order - Set Your SL and your TP to TP1 (Be Careful)
2) Place 1 Order - Set Your SL and your TP to TP2 - Close to a 1:1 RR
3) Place 1 Order - Set Your SL and your TP to TP3 - Scale Out
4) Place 3 Orders - Set Your SL and a TP Target for Each Order (Use Caution)
Once TP1 is hit, move SL to +5 pips in profit. This removes all risk and locks in a litte profit to cover spreads. (from YOUR entry NOT signal entry)
Once TP2 is hit, move SL to where TP1 was!
Once Price gets about 1/2way between TP2 and TP3 move SL to where TP2 was!
Scaling Out (A Must)
1) When TP1 is hit remove 1/3 of your lot size
2) When TP2 is hit remove 1/3 of your starting lot size
Remaining 1/3 will either close at TP3 or at your SL in profit
ALWAYS ALWAYS ALWAYS USE PROPER RISK MANAGEMENT
NO MORE THEN 2% OF YOUR ACCOUNT BALANCE PER TRADE IS IDEAL
NEVER RISK MORE THEN YOUR WILLING TO LOSE
As Always Make It A Great Day, A Profitable Week, & Happy Trading! :)
~ SpiffyPips ~
