(boOM #2) LPR Trading Strategy
Pro 624 creates 6 trading opportunities in 24 hours as you can now guess. We look out for a good setup on VT trader’s platform and then switch to MT4 platform for confirmatory signals with our indicators before we place our order. You can choose to begin trading any time of the 4 hour rollover.
I personally like to begin after the first 4 hours of the day has been completed. I personally observe that more often than not, the market must have shown little of its bias for the day at the end of the first 4 hours. This means Ill be trading the 4am candle which will open by 5.Olam my local time. It is advisable to get set at least 30 minutes before the new candle begins. This will allow you to analyze and observe the market activities as 4 hourly trading volume moves to a close.
The next thing we do is to switch to our MT4 platform and change it to 5 minutes chart. We’re going to be using 5 minutes time frame to receive our signal based on the 4 hourly bias to access and follow the trend.
Pro 624 Trading System in a nutshell: First we analyze the long term charts and look for the “market condition” that is likely to be sustained for the next 4 hours and peradventure for a given day. Once we know the market condition of any currency pair, we then try to find an entry signal in the short term charts, this allows us to have a small risk per trade, but our take profit orders are set based on the long term charts.
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5 Day BreakOut.mql4
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