Golden Pips

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Support and Resistance

Let’s talk about Break even (BE):-
BE measures to protect capital or existing Balance acct….

How to set BE…
BE is basically moving your SL from the initial given SL to your entry point, once the market has moved in your favor … if the market reverses it will hit the new set SL (which is now BE ) and close your trade with zero loss…..

How to set BE plus (BE+)
BE+ is basically the same as the BE except you set it at 10 Pips above your entry line . So if the price reverses it will close with profit instead of just break even (zero loss)

The chart below is a perfect example to illustrate BE

Chart patterns

Risk Management
The first rule in risk management is to calculate the odds of your trade being successful. To do that, you need to grasp both fundamental and technical analysis. You will need to understand the dynamic of the market in which you’re trading, and also know where the psychological price triggered points are,which the movement of the Chat can help you decide. Risk is inherent in every trade you take , but as long as you can measure the risk you can manage it……
With discipline approach and good trading habits / methods taking on some risk is the only way to generate good reward

How to calculate Pips

Why do we need to know our pips ?

- To set your TP, BE & SL points
- So we can calculate when trading
- So you can make calculated risk

Sound Basic but not everyone understand the importance of points in percentage (Pips)

Martingale layers

Martingale layering is a form of layer with different lot sizes

- Start by choosing your desired lot size . For example
You have $200 equity in your account , the lot sizing should be 0.10 because it is between low risk and mid risk .

-When you’re about to trade , fill out the 0.10 lot sizing by layering them. Our first entry is the smallest lot within the 0.10 I.e 0.01, 0.02

- when the price float 10/15 Pips from the entry price, you add more layer and increase the lot size gradually from 0.02 , 0.03, 0.04

- When the price float another 30pips from the entry price , add more positions to complete the 0.10 lot size..

- So if hit SL the loss is smaller compared to if we enter 0.10 for the first entry at once

- If we’re profiting , our profit will be bigger compared to if we enter with just 0.10 for the first entry because of the layering at better positions

This is important to grow your account and make great profit ….
If you don’t understand let me know in the comment section