Crafting Successful Trades: Essential Decision-Making Guide
When executing a trade, several key factors need to be considered:
Market Direction: Assess whether the market is likely to rise or fall.
- MIMI FX Indicators: Leverage the MIMI FX Indicators to improve your trading decisions.
- Reversal Time Pattern System: Integrate the Reversal Time Pattern System into your strategy to enhance trade outcomes. You can get the sofware here and you can take the classes to learn how to use it.
Economic Calendar: Review the weekly economic calendar on the MIMI FX Economic Calendar. Prioritize currency pairs with significant news events that are expected to have a medium to high impact.
Trade Size: Determine the appropriate amount to invest in each currency pair. The MIMI FX Risk Management Excel Spreadsheet, featuring live data from MetaTrader4, provides exact trade sizes and additional tools to manage and control risk for every trade.
Entry Timing: Choose the right moment to enter a trade, whether at the current market price or by setting a pending order.
Exit Strategy: Plan when to exit the trade to lock in profits or minimize potential losses.
Risk Management: Implement a stop-loss order to limit potential losses if the market moves against you. You can download the FREE Trailing Stop Bot from our site, which includes automatic stop-loss settings.
Profit Protection: Utilize a trailing stop to automatically adjust your exit point as the trade progresses in your favor, securing your profits. The FREE Trailing Stop Bot, available on our site, also allows for automatic stop-loss adjustments.
Basic Technical Indicator Trading Rules
The rules outlined above were created after noticing a consistent pattern when combining various indicators in MT4, making it easier to predict market direction. If you’d like access to these pre-configured indicators and templates, click the link below. Additionally, you can use the Alerts Reader to receive audio alerts through a text-to-speech tool like Text Aloud MP4. You can also send these alerts directly to your phone via the Push notification feature on MetaTrader 4. To learn how to effectively use all these tools, consider signing up for our upcoming classes.
Compatible with All MetaTrader 4 Platforms and Any Broker
This system and strategy for identifying entry points using this combination of indicators works with all currency pairs, cryptocurrencies, commodities, stocks, indices, and any other assets available on your broker’s MT4 platform.
