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Then the script will take the necessary action:
1. Finds out how volatile is the pair and saves value for future calculation.
2. By implementing risk management strategy, it calculates how much money to risk on one trade.
3. Then it calculates lot size to trade after getting volatility value and risk amount.
4. Furthermore, it calculates take profit and stop loss level.
5. Finally, it sends order to take trade with optimum lot size risking given risk percentage and putting stop loss and take profit level.
That how easily I do almost 50 % of my trade consistently accurately and efficiently.
IT abidies by all the trade guide lines of No non sense forex way.
The criteria in taking trade in “No nonsense forex “ways are:
A. Pre requisites:
· leverage of 20,
· Using Day trading
· 2% risk in every pair.
B. While trading:
· When all the indicators give trigger signals.
· Take two trades in one pair with the risk of 1% each
· One with TP at 1times ATR and one with no TP while both has 1.5 times ATR stoploss, with the help of previous candle ATR values.
