If the price is above the price at evening GMT, we buy, if it is below, we sell. Using pending orders. We set Stop loss at the opposite end of the inner bar. We are looking for entry signals only the first 9 hours after GMT. We enter the market with three orders — A, B, and C of the same size. We will keep it in the market until the trend has reversed. Order A brings us the profit, order B covers possible stop-loss of C order, and order C is a source of potentially large profits.
How we control C order later? We will move Stop-loss of C order on the trend behind the simple moving average with the period of If the price moves in our favor, StopLoss moves after it, if the price moves in the opposite direction, StopLoss stays in place. This tactic sometimes allows you to get the profit that is times more over Stop-Loss. We feed a horse that runs. We open daily chart D1 and apply the moving with the period of 20 SMA.
The price must be above or below the moving, but not on the line. Everything happens as when trading on the hourly charts, but for the benchmark we take the open price of the week W1 chart, the candle of Monday. If the breakout of the inside bar is below the open price of the week, we sell only, if it is above, we buy only. Watch out the risk: because we use 3 orders in this system, 3 Stop-Losses are possible.
This indicator will help you to calculate the lot. This is its advantage and it is what lets the strategy be effective for many years. However, if you do some work on yourself, the principles of trading management of this strategy even with other rules of entry will make you a millionaire sometime. Hello, fellow traders. Entry the market and Stop Loss We trade the breakout of the borders of the Inside bar smaller candles.
Trading management and exit from the market We enter the market with three orders — A, B, and C of the same size. At GMT we defined price line on the chart. We set 3 pending orders A, B, C slightly above Inside bar internal candle. We set Stop-Loss for all three orders, in this case, it will be X pips. This approach is based on the "Inner Bar" pattern. This figure consists of the mother and inner candlesticks.
On the graph, they are used as follows: the boundaries of the inner candle should not go beyond the limits of the mother one. In this case, it is recommended to select a small inner bar. You can see how it looks on the picture below. As soon as such a pattern appears on the chart, sellers and buyers temporarily agree on the same price for a particular asset.
The trader's goal is to enter the market by the trend as early as possible, before the competitors, holding the positions longer. But you need to, so to speak, correctly catch the trend. First, you need to find out the direction of the trend, so you could not to trade in the opposite direction. To do it, for example, at GTM until the market changes actively , you need to determine the price line - the open point of the day. Further, if the price rises above the level assigned, you need to open a buy order, and if it falls below - a sale order.
Accordingly, when the price crosses the reference axis from the bottom to top, there will be prerequisites for the uptrend, and in the opposite case, it will be a signal to the emergence of a downtrend. Starting from am GMT, you need to monitor the hourly chart and wait for the "inner bar" to appear.
As soon as you see the figure, pay attention to the price, and where it is relative to the control line. If the price is lower than the morning axis, correct the strategy to break down the inner bar. Open the order at the breakdown of the boundary of the inner bar. Set the pending orders. Stop Loss shall be fixed on the picture:. For the first two orders, you need to set the Take Profit at the level of Stop Loss. The third order will remain active until the moment of trend change.
The Stop Loss of the third order needs to be adjusted by the trend, relying on a simple moving average with a period of Along with the emergence of each new candlestick, the Stop Loss level is moved closer to the current price. A restricting order is adjusted if the price goes to our side, and if it goes in the opposite direction, it will hold the position.
This tactic allows you to get more profit than restraining the stop. Pay attention that each separate position needs to be adjusted autonomously, without moving everything to a single place.
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RULE: For the "Daily IBar Setup" or DIBS Method only take an upside breakout of an hourly inside bar if the breakout price is higher than the day's open and downside breakouts of an hourly inside bar only if the breakout price is lower than the day's open. jellt.xyz › thread › the-dibs-method-no-free-lunch-c. This trading strategy is primarily suited for technical analysts, although it is not restricted to everyone else. The basic principle behind this system is to.