Sweet spot trading | Forex indicator download - MT4/MT5 resources
This thread was started from my traffic light thread after someone emailed me asking if I had a system that used 1 time frame instead of 2 time frames for traffic lights.
The person in question wants to use one system across multiple swaps and wants to open only 1 chart per swap...
I will only increase my activity on this thread and answer questions if in a week it looks promising that what works for index futures will necessarily work for FX as well
If I'm happy with the results, the template metrics will be posted on this thread
TP-
Long = Bar High and Swing Low (marked on the chart) x 2, i.e. TP reversal for Short.
SL - Long = 1 pip below short last swing low reversal
Chart shows 10 signals
8 wins
2 losers
Must use money management calculated based on initial stop loss size
Ie
Stop Loss 20 x $10 per pip = $200
If the account is $5,000, risk 5% per trade = $250
If you lose money you can trade 1 contract and you will lose $200
Stop Loss 10 x $10 per pip = $100
If the account is $5,000, risk 5% per trade = $250
If you lose money you can trade 2 contracts and you will lose $200
The above is an example that shows stop loss size should not imply greater risk.
Your profits will increase as the bank is built bigger
IE 6-month account is $20,000 x 5% = $1000 stop loss
In the first example above, if the stop loss is 20 pips, you could lose $200 and you could trade 5 contracts.
The take profit price will be twice your stop loss, so you will win 5 x 40 pips = $2000
RR of 2:1
The person in question wants to use one system across multiple swaps and wants to open only 1 chart per swap...
I will only increase my activity on this thread and answer questions if in a week it looks promising that what works for index futures will necessarily work for FX as well
If I'm happy with the results, the template metrics will be posted on this thread
TP-
Long = Bar High and Swing Low (marked on the chart) x 2, i.e. TP reversal for Short.
SL - Long = 1 pip below short last swing low reversal
Chart shows 10 signals
8 wins
2 losers
Must use money management calculated based on initial stop loss size
Ie
Stop Loss 20 x $10 per pip = $200
If the account is $5,000, risk 5% per trade = $250
If you lose money you can trade 1 contract and you will lose $200
Stop Loss 10 x $10 per pip = $100
If the account is $5,000, risk 5% per trade = $250
If you lose money you can trade 2 contracts and you will lose $200
The above is an example that shows stop loss size should not imply greater risk.
Your profits will increase as the bank is built bigger
IE 6-month account is $20,000 x 5% = $1000 stop loss
In the first example above, if the stop loss is 20 pips, you could lose $200 and you could trade 5 contracts.
The take profit price will be twice your stop loss, so you will win 5 x 40 pips = $2000
RR of 2:1
📦 Summary of post attachments (3)
Below are all the files (3) shared in the reply.
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •