RE: CHARTS -T LINE TIPS29 Mar 2020 11:43
Goood morning flexmw
dozesss llink is an exccellllent exampplle of bigalows TTLLINE rationnale
tempplate tradiing ius mmy ownn
'see bellow
TEMPLATE TRADING EUR/USD
for the uninitiated template trading strategy
break down your daily target into different goals, the salami method.(one slices salami to eat it instead of taking mouthful bites)
place your bet and when target slice reached close the bet.
e.g.
weekly target total £500
made up of say
mortgage £100 /5 = £20 a day at £10 a pip = 2 pips
council tax £25/5 = £5 a day at £10 a pip = half a pip
gas/electricity £25 = £5 a day at £10 a pip = half a pip
wife/partner/mistress £75= £15 a day at £10 a pip = one and a half pips
water rates /insurance £25=£5 a day at £10 a pip = half a pip
care costs £250= £50 a day at £10 a pip =5 pips
10 pips daily in total x £10 = £100 daily x 5 = £500 weekly x 50 = £25,000 annually
the average wage in the uk is I believe £25k annually
anything below that has to be considered as poverty wages
as you can see my salami does not include housekeeping/food and drink/holidays/ entertainment/telephone/mobile/ clothing/kids expenses and that includes one's grown up adult children etc etc etc
quite often in a choppy range trading market those individual slices can be achieved very quickly , sometimes within the same candle , even a minute one.
£10 a pip is favoured as it is easy to see when goal has been achieved.then its fastest finger first to lock it in.
BACK TO BASICS 2020
TEMPLATE TRADING - Continued
least margin deposit required at least £4k for £10 a pip
recommended margin £8k in case a straddle is needed if price suddenly takes off in opposite direction instead of stop loss.
ideal margin required £12k to give one some flexibibility to up the bets if one finds one in a break out trend eg hectors trend strategy orr new trend strategy ema 8:13:21 or my conservative ema 34 or 54 to act as trigger.
tip when templatee trading preset your stop profit limit wwheenn plaacing the bet.
tip when trending take profit along the way and go backk in .
no stop losses just use a strraddle once range trraading hass stopped.
glita
EUR/USD
Template trading again using preseet 3 pip profitt lliimit straddles
warning
make sure it is thhe stopp profit box
had a coouplee of loserss ticking sstop losss box by mmistaake
usually all winners
juudge entries by range
buy bbottom sellll top
use straddle if breakout .
gglita
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