Sniper forex system download

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The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. If you do know how to use it, then this lesson will be a good refresher and reference guide to the power of RR and how to make use of it on your charts. You have to make the tool yourself by changing the properties on the Fibonacci tool, which I will show you exactly how to do shortly. RR targets based on stop loss distance. 1:2 it means you have a potential 2R reward on the trade, or the reward is 2 times what you have risked. The RR tool helps you see if a trade makes sense to take.

You overlay the tool on the setup you’re considering, measure the stop distance and then find the potential reward levels on the charts. If they don’t make sense based on the surrounding market structure and price action, we might think twice about entering the trade. Step 3 is where you will actually begin to adjust the Fibo settings according to the particular trade setup you are considering, in order to find the risk reward levels for the trade. For example’s sake, we are going to use a pin bar signal with a stop loss just below the pin bar’s low and a buy entry just above the pin bar’s high. In this case, we want to delete out all the levels except the 1 or 100 level which should mark your entry level and the 0 level which marks your stop loss level.

1R risk amount on the trade setup. You can now easily add your 1R, 2R, 3R etc. 1R profit level, this is because the 1 level was already used for entry if you remember. 1 level with your entry and the 0 level with your stop loss for each setup.

It will probably take a few practices of going in and adjusting the Fib levels to reflect the RR levels of your trade setup, but it really isn’t hard to do and it will become an integral part of your trading routine before you know it. Note that the setup was in-line with the underlying daily chart uptrend. Also, note there was a key resistance level coming in up near 1. 5717 area that was coming in just above the 1R profit level. Given that the setup was with a strong daily uptrend, I don’t think that resistance was enough to not take this trade. When you find a price action setup you are thinking about trading, you’ll want to play around with different stop loss distances and see how they affect the reward areas on the chart. Get out your RR tool that I showed you how to make here today and start comparing potential reward levels against a few different potential stop loss placements.

The first step, is mastering an effective trading method like the price action method I teach in my courses and members’ area. Gracias Nial, thank you very much. I have been away from you for some time. You mean so much to me.