Hello Traders,
I'd like to share how we achieved 130 pips on EUR/USD today and to hopefully help you on your trading journey.
Our traders follow these 5 rules:
Rule 1) Trade must be in line with the W1 Trend
Rule 2) 'If & Then' Analysis based around a pull-back supported by confluence between key Fib & structure levels
Rule 3) Stop loss is to be based on confluence between key Fib & Structure & move to breakeven at 40 pips gain
Rule 4) The target price should be based on historic structure
Rule 5) Trades are based on 'set & forget' and should be checked at the days open and close
For EUR/USD we noted the bullish trend and only sought to buy. We waited for the pull back to hit either historic resistance, a key fib level or a mixture of the two.
If you see the linked idea 'Two Long Entry Points' we had a buy set in the green zone which correlated to a key structure level. It was at this point we expected buyers to re-take the market.
We find that setting patience is the key, waiting for the perfect entry, keeping stops low to cut down losses and holding trades until they reach target even if it takes days.
Try to set your own rules and stick to them. Always trade with a clear purpose. Pick one side of the market, it's a lot easier to focus on buying or selling rather than trying to do both. Lastly trade minimal pairs, we've found a massive success rate just trading 1-2 pairs at a time.
Any questions fire away and good luck!
I'd like to share how we achieved 130 pips on EUR/USD today and to hopefully help you on your trading journey.
Our traders follow these 5 rules:
Rule 1) Trade must be in line with the W1 Trend
Rule 2) 'If & Then' Analysis based around a pull-back supported by confluence between key Fib & structure levels
Rule 3) Stop loss is to be based on confluence between key Fib & Structure & move to breakeven at 40 pips gain
Rule 4) The target price should be based on historic structure
Rule 5) Trades are based on 'set & forget' and should be checked at the days open and close
For EUR/USD we noted the bullish trend and only sought to buy. We waited for the pull back to hit either historic resistance, a key fib level or a mixture of the two.
If you see the linked idea 'Two Long Entry Points' we had a buy set in the green zone which correlated to a key structure level. It was at this point we expected buyers to re-take the market.
We find that setting patience is the key, waiting for the perfect entry, keeping stops low to cut down losses and holding trades until they reach target even if it takes days.
Try to set your own rules and stick to them. Always trade with a clear purpose. Pick one side of the market, it's a lot easier to focus on buying or selling rather than trying to do both. Lastly trade minimal pairs, we've found a massive success rate just trading 1-2 pairs at a time.
Any questions fire away and good luck!
