How To Trade (Part 2)

“How To Trade (Part 2)” is another article that will assist both new and inexperienced traders on how to use a simple strategy to trade Forex or Volatility Index.

However, this very strategy is indicator based and it can be used on the Personal Computer or on the mobile device.

Basically, this strategy works on all time frames. You can use this strategy to trade NASDAQ 100, GBP pairs, Boom and Crash index.

 

 

 

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Check Out:

Support and Resistance

BeanFX Volatility Index 75 Scalper

Trendline Breakout Strategy

Megaphone Price-Swing Strategy

Three White Soldiers

Fibonacci Strategy

Flag Patterns

(Deriv dot com is the only broker that has Volatility Index 75).

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Indicators:

Main Chart:

Indicator Window 1:

Indicator Window 2:

How It Works

(Try this on a demo account first!)

Main Window

Long/Buy Setup:

1. Allow price to open below the 21 EMA, cross up and close above the 21 EMA for you to have the Buy Candle bar.
2. Also allow the next three candle bars to close above the 21 EMA.

Short/Sell Setup:

1. Allow price to open above the 21 EMA, cross down and close below the 21 EMA for you to have the Sell Candle bar.
2. Also allow the next three candle bars to close below the 21 EMA.

 

Indicator Window 1

Long/Buy Setup:

• Allow Accelerator Oscillator bars to turn Green under the Candle bars 1, 2 and 3. This should be your Buy Signal Confirmation.

Short/Sell Setup:

• On the other hand, allow Accelerator Oscillator bars to turn Red under the Candle bars 1, 2 and 3. And this should be your Sell Signal Confirmation.

Indicator Window 2

Long/Buy Setup:

• Allow Awesome Oscillator bars to turn Green under the Candle bars 1, 2 and 3. This should be your Buy Signal Confirmation.

Short/Sell Setup:

• On the other hand, allow Accelerator Oscillator bars to turn Red under the Candle bars 1, 2 and 3. And this should be your Sell Signal Confirmation.

 

Trade Entry, Take Profit and Stop Loss levels:

Trade entry is at the closing price of the candle number 3.

Stop-loss is at the high price level of Sell Candle bar in a Bearish setup.

While Stop-loss is at the low price of Buy Candle bar in a Bullish setup.

Take profit is at the pip-distance x, where x is the amount of points from Trade Entry point to Stop-loss point.

Trailing your profits will be a good idea.

 

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Referral links;

(Volatility Index Broker:…https://track.deriv.com/_WxWzztorkVi2vdm9PpHVCmNd7ZgqdRLk/1/)

(Broker: Alpari …   https://alpari.com/en/?partner_id=1244646)

(Broker: Exness … https://www.exness.com/a/t0q1u0q1)

(Broker: FXTM… http://forextime.com/?partner_id=4806145)

(Email: beanfxtrader@gmail.com)

(Telegram:  https://t.me/joinchat/AAAAAE97zaWdZg5KBbrIVQ)