Overall your TP and SL is your own preference and depends also how big your bags are and how much you are willing to lose in a trade. This would mean also that every trade TP and SL can be different (dynamically) or fixed.alij79 wrote: Mon May 18, 2020 6:46 pm
and how do u set TP and SL , can you explain in the chart, will be really helpful...
thanks.
I have here an example for your when loading the template.
Simply in this case you take a sell order and you can see with the yellow arrows about the possibility to set your own TP and SL.
SL options:
1) Octavemath levels
2) MA line
3) Channel line or
4) the yellow small zigzag resistance level
TP options:
1) Blue ma
2) HMA Trend blue
3) Daily open line
4) blue candle
Again these are just options and can be variable. You have to figure out for yourself whats working for you and your money. Furthermore there is also more SL and TP options in the picture but I do not mentioned them. Picture is looking already messed up so I hope you can follow.
For example our member Cladi39 has shown a wonderful picture here:
viewtopic.php?p=1295410453#p1295410453
Keep in mind that this is one way to trade.
I don't want to sound harsh now...but please kindly take some time and read the last posts. Nothing comes easy. "Reading" is at least what everyone of us can do and there is no other person who can do this job for you.
My best way would be to watch this system for a certain time and you might get the trading rules on your own. Actually we should not mention "rules" at all because it kinda limit your creativity a little bit. By giving clear trades you might looking straight forward for the conditions and missing potential better trades because you might think that there is only these rules to trade this system. We all have different eyes.
