Account No. : 67240189
Investor password: mvplzx96
Chosen Stock Market Data: DAX30
Trading Styles: Scalping, News,Hedge and Swing.
Time Frames: Any preferably M5, M15, M30, H1, H4 and D1.
Currency Pairs: Any symbol/instrument that suits my plan and strategy.
Indicators: Naked Trading.
Here I have used my previous contest's strategy that I won. I hope you will enjoy it too.
I'll use trending candles and pin bar indicator and important financial news to open a trade.
Pin bar Candle:
Information about pin bar indicator can be found clicking this link given below. I have indicated it with an red arrow on the candle chart.
More information will be provided when I open trades. You can have a look at https://forum.mt5.com/showthread.php...rything-Simple
Here I consider a trend if I find three consecutive and almost even(almost same length) candles moving in the same direction on candle chart of M5, M15, M30 or H1 of any currency pair.
More to come when I open trades. You can find it https://forum.mt5.com/showthread.php...rything-Simple
I'll use the link given below for financial news.
Entry and Exit of a Trade:
I have specific strategy for each type of indicators:
For Pin bar Candle:
I will open a position in the opposite direction immediately or in the following candles after seeing a pin bar candle. Generally I'll use risk and reward ratio of 1:1 for this trade. I may use 2:1 ratio too. It is possible that I'll close trade manually in slow movement or for booking profit.
I will wait for 4th or/and 5th candle to complete. If I find 4th/5th candle is in the same direction or less than 40% retrace is seen based on those 3 candles length I'll put order in the same direction of previous 3/4 candles. Generally I'll use 2:1 risk and reward ratio but it can be contracted to 1:1 sometime. It is possible that I'll close trade manually in slow movement or for booking profit.
I'll put some stop orders in both direction. Sell stop or buy stop orders with profit target of 10-30 pips with risk and reward of 1:1 depending on the news quality and impact. I may close the trade manually for booking profit.
There is no specific money management this time as there is some prize for highest hit rate and accuracy. So I'll try to win all the trades if possible.
Thank you all.