MTB + L/S zones + S/R(1) 24h EURAUD + USDCAD update
Hey Trayders,
I backtested EURAUD a few days ago and wasn't sure why I didn't make a video on this pair specifically.
One of the first trades on my backtest in this video would have yielded you ~1200 pips!! That is an amazing gain!
(I misspoke on my video. I was actually calculating what the gain would have been when trading 1-2 lots for USDCAD but the calculations below would give you the gains for EURAUD).
For example, let's say you traded 1 lot base currency of USD @ 50x leverage. Required margin would be $2,285.25
-Pip value in base currency = $7.54
-1,200pips * $7.14/pip = $8,568(less holding costs etc.)
Let's say you traded 2 lots base currency of USD @ 50x leverage. Required margin would be $4,570.68
-Pip value in base currency = $14.28
-1,200pips * $7.54/pip = $17,136!!! (less holding costs etc.)
Update on USDCAD:
-the goal was to have bad entries and still see if the strategy makes profit and holds true.
-we got a retrace on yesterday's daily (expected).
-4 hour looks like it wants to continue moving downard will keep you updated.
I backtested EURAUD a few days ago and wasn't sure why I didn't make a video on this pair specifically.
One of the first trades on my backtest in this video would have yielded you ~1200 pips!! That is an amazing gain!
(I misspoke on my video. I was actually calculating what the gain would have been when trading 1-2 lots for USDCAD but the calculations below would give you the gains for EURAUD).
For example, let's say you traded 1 lot base currency of USD @ 50x leverage. Required margin would be $2,285.25
-Pip value in base currency = $7.54
-1,200pips * $7.14/pip = $8,568(less holding costs etc.)
Let's say you traded 2 lots base currency of USD @ 50x leverage. Required margin would be $4,570.68
-Pip value in base currency = $14.28
-1,200pips * $7.54/pip = $17,136!!! (less holding costs etc.)
Update on USDCAD:
-the goal was to have bad entries and still see if the strategy makes profit and holds true.
-we got a retrace on yesterday's daily (expected).
-4 hour looks like it wants to continue moving downard will keep you updated.
1. add martin trend bars, add martin S/R, add martin L/S zones to chart
2. set martin S/R to 1 or 2 sensitivity (recommend 1)
rules for opening a trade:
-open if zone color is in the same direction as your trade, green for long short for red
-open on the next 3 color trio you have after a trio of the opposing color (aggressive)
-open on the next 3 color trio after a large block of the opposing color (ultra conservative)
rules for stop loss:
-if longing, put SL slightly under the current support (1-5 pips)
-if shorting, put SL slightly under the current resistance (1-5 pips)
rules for taking profit/losses:
-you get stopped out on your trades
-if longing and resistance line becomes lower than the previous resistance line then close the trade
-if shorting and support line becomes higher than the previous support line then close the trade
-if zone color changes to the opposing color then close the trade
-be smart and close the trade yourself under your own discretion