develop your skills on a demo account before switching to real money. Short Trade Setups: To go short (to sell you have to wait for one of the candlesticks to close below an intelligent market making strategy in algorithmic trading the BB1 lower band. It means you should buy at close of candlestick #3: Stop loss has to be set at the low price of the candlestick which has pierced the BB1 upper band (I mean candlestick #3 and the target can be at least twice of the stop. This is because reversal trading relies on identifying the precise moment in which a trend dies. However, on 5 minute charts, it really is easy. You lose your 1st trade 5,800, You lose your 2nd trade 4,600, You win your 3rd trade 4,600600 5,200 You win your 4th trade 5,200600 5,800 From this example we can see that even losing 2 out of every 4 trades you can still make. Imagine how much more important it is when I am price action scalping a 5 minute chart; when I only have about 30 seconds to make a trading decision.
And in this chapter I will cover trading psychology. The below screenshot shows lot size of 30 and margin requirement of 10 for Bank Nifty: Disclaimer: All the AFL's posted in this section are for learning purpose. Narrow range days mark price contractions that should i trade futures or forex often precede price expansions. You also must keep in mind that the whole idea of risk to reward strategies revolves around having an effective edge in the market and knowing when that edge is present and how to use it, you can learn this from my price action forex. Contents, chapter 1, what is Price Action?
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