💎 A standard Trade Setup will include the following basic elements:
B1: T: Trend (main trend)
B2: L: Levels (important resistance)
B3: S: Signal (Signal that is trustworthy enough according to each person's method) In this step, you can use multiple frames to find the best possible entry.
- You must know which trend you are trading in, or more importantly, you must know where you are on that trend (Find the trend) You must know which resistances are important and trustworthy (Find Levels) You monitor the market to see if there are any signals to be able to enter an order (Find Signal)
- After determining the order entry signal, we have Entry, Sl, Tp, then we will know the RR ratio. If RR <span consider not entering.
Only enter an order when the order is good and RR >= 1. The higher the RR, the better. Read the RR file to understand why it is like that.
- Have SL distance (specifically the number of pips) from which to calculate the volume (lot) to enter the order with reasonable vol.
Here, if SL is far, the vol will decrease, if SL is short, the vol will increase, depending on the time frame, there will be different SLs
- Manage the orders being traded well. (For example, if the order is positive R1, you can pull SL back to Entry to ensure that the order does not lose and continue to make a profit)