3 Trades A Day Instructions
3 Trades A Day Instructions
3 Trades A Day Instructions
system **
** C:\programfiles/metatrader4/templates **
Drag and drop each template file to the above named
folder and then close all folders.
** C:\prografiles/metatrader4/experts/indicators **
Open the indicator folder you recieved with the system set
up and "drag and drop" the icons for
each indicator to the above named folder and then close all
folders.
NOTE:
All of the template and indicator files are saved in a zip file
folder under
"ALLZIP" in the main folder you received. Dragging and
dropping
them from the main folders will empty the main folders, but
you will still have them
saved in the "ALLZIP" folder for future use if you need
them again or to
set up other computers. You can even download redundant
MT4 platforms for
multi monitor set ups if you choose.
Just name each MT4 Demo by # (MT4 1, MT4 2, MT4 3
etc....) and you can open
seperate platforms with different chart set ups instead of
having all of your charts in one
screen or MT4 platform.
6) Open three (3) new charts (Use EUR/USD> From the top
left drop-down menu of the MT4)
(File/open new chart) and then drag/resize them to look
like the picture file >setup 1< that was sent to you.
Overlay the 2 large charts as you size them each to look
like the picture. Set the time frames as follows:
From Left to right set chart 1 at DAILY, chart 2 at
5Minute and the smaller chart at 1Hour. Your charts should now
look like
picture file >setup 1<.
7) (A) Left click on the small chart on the right set on the
1Hour time frame and then click the "templates" box from the
MT4 Toolbar.
Then click "load template" from the drop down menu and
load the "DAILYSETUP" template and
you will see the chart set up now look like the picture
file >setup 2< that you received.
(B) Left click the large chart set on the 5Minute time
frame and repeat the above, but this time load the
template "Enter Exit" for this chart and you will see
your charts look like the picture file >setup 3< that you received..
(C) Left click on the large chart set at DAILY and repeat
the above, but this time load the template
"Basic" for this chart and you will see your charts look
like the picture file >setup 4< that you received
8) Note that all of the chart set ups can be used on any time
frame that you choose.
I often get customers asking if they can be used on say 5 or
15 minutes, so YES.
You can change any of the charts time frames by left
clicking one of the charts and then
clicking one of the time frame boxes on the top menu line in
the MT4.
Trading Forex is about being able to look at ALL
timeframes, so yes..Look at all timeframes
as you deside to enter a trade, but remember that a higher
time frame holds more weight as
far as overall trend. Support and resistance levels change
from one time frame to another.
With that said the 1Hr chart is a good basis to look for a
daily trend, but the
markets move sideways and up and down, so there are
always trading opportunities on the
lower 1M main chart time frame. As always patience is the
key. Buy pullbacks and Sell rallies on the
shorter time frames if you choose to trade against the
trend of a higher time frame. With that said...
Please try to focus on the 3 trades a day strategy and do
not just try to time or scalp trades because
you have a feeling or are bored. The strategy will correct
you if you trade outside of the rules by taking your money.
At the same time it will build patience and your trading
account as you practice more and begin to gain trust in the
strategy and yourself.
http://www.timeanddate.com/worldclock/fixedtime.html?
month=2&day=4&year=2010&hour=12&min=0&sec=0&p1=867
Step 3:
TRADE #1:
For trade 1....Look to enter as the price moves above (BUY)
the GREEN line that you plotted on the
"dailysetup" chart OR below the RED line (SELL).
Confirm your entry by looking at the indicators on the larger
5M "Enter Exit" chart.
That is to look for the top bar indicator (FX trend ) to turn
red for a short break (lower red plotted line) or green for a
long break (upper green plotted line) as the price is about to
break one of your plotted lines on the Dailysetup chart and as
the candle color (TTM TREND) on the Enter Exit chart is the
same color. Then you will look for the MAXMA indicator (red
or green "dots" on the enter Exit chart) to turn the same
color of the FX trend indicator and the candle color from the
TTM indicator. You will also be looking for the Line in the
center of the "Enter Exit" chart (Audio Alert Line) to change
color in acordance of the break.
The Confirmation of the plotted lines break should be from
the above stated indicators conditions. (A non
coresponding/delay or no change of the AAL indicator color
could be a sign of a week trend or a false spike).
***
Please note that the yellow SDX breakout indicator is set at
#3 in its TIMEZONE OF DATA properties by default. You
might have to change its setting # to have it appear properly
for your peticular timezone. The rule will be to have the SDX
appear about 4 hours after the London open. The SDX will
appear plus or minus and hour from 7am est (or 4 hours after
the London open). This is what it should do. Once you have it
set to consistantly appear do not change the setting as it will
calibrate itself each day to give a heads up for the entry of
trade 2 depending on the previous several hours of price
action.
TRADE #2:
After closing trade 1.... Reverse the trade position and look
for the price to pull back to the 30M Audio Alert Line for a
conservative trade or to the 1H or 4H AAL for an aggressive
trade again useing the 5M "Enter Exit " chart for
confirmation of the reversal.
TRADE #3:
If you have executed these 2 trades sucsessfully it may be
best to quit for the day and enjoy your profits.
But if you still want more or did get stopped out, the 3rd
trade will be to look for the breakout of the YELLOW SDX
indicator.
Either a break low (Sell) or a break high (buy). This trade will
be confirmed the same way you confirm trades 1 and 2 useing
your "Enter Exit" chart. Typically if the Yellow SDX indicator
that you are starting to see a break of developing is above
the GREEN horizontal line you plotted, the price will breakout
high. If the SDX indicator is below the RED Horizontal line
you plotted the price will typically breakout low.
Look to exit after 20 pips or at support or resistance on the
Enter Exit chart. These 3rd trade breakouts can run 100 pips
some days so I'll leave the exits to you. The added BASIC
chart is just to give a quick visual of the daily price action
and is good to use on the 4Hour time frame also to see trend
breakouts comming, after you get familiar with the 3 trade
entries and exits and over all daily price action.
******************************
*******STOP LOSS
RULES*************************************
ON ANY OF THE 3 TRADES YOU ARE BEST TO CLOSE A
LOOSING TRADE IF THE CANDLE OPENS (AGAINST YOUR
DIRECTION) ABOVE OR BELOW THE AUDIO ALERT LINE
ON THE 5M TIME FRAME. This will be the red and green
line on the "Enter Exit" chart in the main MT4.
Study the set up and play with ideas and the whole MT4
platform.
Forex trading is tricky. Always consider that "They" are
trying to fool you.
"They" are because that is the name of the game.
Always think about how the brokers will try to catch the
most loosers and
do not become one of them caught up in a big reversal or a
fake out price move.
It pops up ANY news that you feed into it. It cost like 30
bucks I think, but it works
great for stocks or Forex and is worth the money I think.
so trading well with just one monitor once you know your
system is very possible.
This link is for the software that enables you to move your
open windows to other screens
with just one lick instead of dragging them.
**
http://www.realtimesoft.com/ultramon/ **
Here is a link that will help you get all of your monitors
running togeather after you have
installed any nessasary video cards in your pc(s).
** http://www.multi-
monitors.com/SUPER_PC_Multi_Monitor_Computer_Setup_Instr
uctions_s/40.htm **