My simple easy system! I call it "Purple" after my wife's favourite colour.
Always makes me PIPs, just a question of 10, 20, 30, 50. 80, 100...
Follow the numbers below to match the chart! Please note we open the trade on the start of the second bar marked as "1". So you have to be quick but that comes with practice.
- Second bar of a new series on the M15. In this case a Negative bar/Bear bar/Sell bar.
- Is this indicator pointed in the same direction? It has to! If it happens to be the second bar it is Awesome, capital A.
- Is the PSAR & trend indicator "pointed" as a sell signal too? It has to!
- We open the trade!
- We look for a minimum of 10 PIPs. In most cases you can let it run further sometimes up to 100 PIPs. There are various ways to determine this.
- In the beginning I did 4 ~ 10 trades per day of 10 PIPs.
- You do the Grade1 math. That is easy dough!
You can do it too!