If you think reading all the trading books will help you become a profitable trader, you will be disappointed. All the normal rules are just conditioning you to fail - Period. Lie Number 1 - Resistance ( a setup to take your stop loss ) Lie number 2 - Trade the trend ( again after your stop loss ) How do I trade - Let the Big Players make the big moves then take the reversal when Liquidity becomes very thin. Price will always collapse into thin Liquidity for a safe trade.
Leverage is your enemy. It's designed to part you from your money. While most don't want to hear it, trading 200 times leverage is a recipe for disaster. Also, don't sit and stare at the screens, there are more important things in life. Place a trade, set your stops and targets, and walk the fuck away. LOW LEVERAGE....
No, not difficult but you need to be on the one minute chart and use the TMA indicator. Basically price runs hard to take out stops. This looks like big spikes seen on the M1 and the task is to let it run till exhaustion. It will end with a pinbar or a large wide ranging candle. All we need to do is take the reversal now. With practice, you can achieve 90% win rates. When you get in too early by mistake, hedge the move. This is normally done in only the London session, quit before New York Opens. Simple
If price that has been running upwards and looks like reversing due to a pinbar / wide ranging candle and it has also moved 80-100% of its ADR, place a SELL trade. Then at the same time place a BUY STOP limit trade 15 pips higher. This ensures the worst outcome sits at 15 pips. If price now moves a lot higher than does sell off, just close Buy trade. Simple
Simple as a regular stop? If price moves 15 pips against you, you simply lost 15 pips. That's not a hedge from being too early, unless I've misunderstood something.