This video covers a high reward to risk trend trading strategy for traders in www.Chatoyance.org
www.Chatoyance.org is a platform enabling traders to work together in groups to create a combined performance hence increasing their profits via teamwork.
The charting platform I used in the video is the Metatrader 4 platform.
Always practice with a longer term chart first, start with daily or H4, prove to yourself that you can be profitable in those timeframes first before moving down to H1, AND THEN to M30 or M15 then to M5. Do not make a fool’s mistake of going into small timeframes thinking you’re a pro when you’ve not proven yourself in the daily or H4 – You will fail.
Fibonacci Retracement, Fibonacci Expansion.
Additional retracement levels for the Fib retracement: 78.6, 88.54
TP is always set to Fibonacci Expansion 100 level.
The strategy aims to get early into trends and trails them along the way, it also provides methods to re-enter into a late trend via price action for best entries.
Always filter with a reward:risk ratio of at least 1:2, or else do not take the trade. Always combine strategies with a good money management, that is to fix your risk to a small % of your account, never placing your eggs in the same basket. Always follow the trading rules, the stop loss and take profit rules and always trail accordingly.