MOREPIPS TRADERS

  Objectives: If you take this lesson to the end, you will know: 1.     How to determine your Risk. 2.     How to determine your TP and SL levels. 3.     How to carry out Back-Testing. 4.     How to determine the success rate of indicators. Money management Money management refers to the set of principles and rules followed in order to protect your trading capital. It helps in the process of deciding your risk per trade. Implementing these rules protects your account from large losses.   Risk   Risk is the percentage of your account you can lose comfortably, if you must lose a trade. Advisably, only 2% of your account should be your risk. That is, only 2% of your account on all trades. If you decide to take only one trade, the 2% should go on it. However, for two positions, go 1% on each position, and for four positions, go 0.5% on each position. EXAMPLE For a $500 account, Risk = 2% of 500        ...

    Objectives: If you take this lesson to the end, you will: 1. Understand indicator-based TechnicalAnalysis.                    2. Know the best types of indicators to use. 3. Know how to combine indicators. 4. Know how to back test indicators.  Forex Indicators These are computer programs that functions to show happenings on a chart. There are many types of indicators for different functions. However, we will be dueling majorly on trend indicators. Choosing Forex Indicators 1. Use good indicators built for Forex. 2. Use Forex indictors that are not too old, because of the dynamic nature of the forex market. 3. Use a combination and settings that works in harmony. TRADING SYSTEM This is a system of forex Indicators that serves primarily to detect price movements, measure Trend strength, and show optimal Entry & Exit points (Prices). Our Trading System is made of the following components: 1.     The ATR 2...