Line in the Sand Part 2 (Line in the Sand Part 2) - MT4/MT5 Resources

Hello everyone,

Well... I've looked at systems, robots, journals, forums, holy grails, stop loss systems, no stop loss systems, averages, trying something, trying something else, etc... You know what to do, we all do it - and then BAM... you found something that works for you! That's the key! With indicators, without indicators, 5 minutes, 1 hour, 1 day, 1 week time etc... whatever suits your trading style.

This is my style and I thought I would share it with my fellow FF members just to give back to the community.

method:

Please note that this is a method and not a system, as you may find a different way to trade this method.

Draw a horizontal line on the chart, if the price crosses this line (when the overall price is lower) we will buy, if the price crosses this line (when the overall price is higher) we will sell, I use an EA to execute the trades, which adjusts my position size etc.

Very simple...

Once we hit 1% overall profit for the day (yeah, don't surprise me and don't think it's possible - you'll be surprised!)...turn off the computer and enjoy the day. Rinse and repeat the next day.

These indicators are provided as a guide only.

This is not a breakout system in the sense...if the price is high, I want to sell, if the price is low, I want to buy.

I don't care where the price is, where the price might end up, etc., I just want to end my day with a profit.

The market is like your partner... treat her/him well... don't abuse her/him, give some, take some... but don't piss... (use stop loss and take profit) otherwise he/she will take everything from you once you break these rules!

Over deal and arrogant and he/she (usually she, haha) will wipe the floor with you!

RiskX%
Take ProfitX
Stop Loss - This will be the previous bar's high or low as I don't expect the price to get back above this line.

Your chart should look like this.



Bollinger Bands:
Band - 20
Translation - 0
Development-2

Wick:
Leave all settings as default (but feel free to use them as you like)

As follows... If the price breaks out of the higher band and has a wick of 2 points or more, and the line will be placed, this is where we might be interested in the price (see for yourself), and the same applies to the lower band.

Market overview:
Last day to start - True
ProfileCount - use as many days as possible within the price range, I used around 5/6 days

Spacer lines:
Number of rows - 100
Spacing - 25

Why I use this... Meta Trader is kind of terrible and doesn't actually reflect price movements as well as you would like to see. If volatility is low, the lines will be far apart...if volatility is high, the lines will be closer together.

Any (I trade within 1 or 5 minutes)

EA is used to execute trades, set stop loss and take profit, that's it, want it to be as simple as possible, I have built the EA only for EUR/USD, I think ECN is only for EUR/USD because I am not a good programmer, but hopefully we can develop it further and someone can use it with other currency pairs (could use something else to manage the trade)

I'll attach this tomorrow since this is on another computer that I don't have access to.

greeting,
Guess 121