Nikos Renko Bar Spartan Trading Workshop

Nikos Renko Bar Spartan Trading Workshop

Step 1 Technique Guidelines :
1. We all the time commerce within the route of our EMA 21. If the worth strikes above it we're searching for lengthy trades and under it for brief trades.
2. We all the time selected Forex pairs with spreads ideally smaller than 2 pips.
3. We're searching for a development continuation candle setup, or additionally referred to as, a TC setup.
4. We commerce the setups directly with a cease of 10 pips plus unfold all the time.
5. Our goal is the dimensions of the cease plus 1 or 2 pips (12-13 pips income). We shut the commerce directly and search for the subsequent setup.
6. We solely concentrate on one Forex pair with good volatility and commerce ideally the London, US or Asian open for 1-3 hours max.

Step 2 Commerce administration Guidelines :
1. We open a 100Okay demo account to “really feel” the great cash.
2. We all the time begin with half a mini lot (0.05 tons).
3. If we win our first commerce we proceed with half a mini lot.
4. If we lose a commerce, we commerce the following sign with 1 mini lot and if we lose once more we commerce with 2 mini tons. We proceed and double our positions like that till we attain 32 mini tons (7 trades). If we lose once more the seventh time, we cease buying and selling directly and examine our charts.
At this level we have now completed one thing unsuitable, or didn't acknowledge a vary early sufficient. Necessary: After we begin buying and selling with 0.05 mini tons on our first commerce for instance and lose the commerce, we might then proceed with 0.10, proper. Let’s assume we win this second commerce and the place is now closed. You had one dropping commerce and one profitable commerce.
Now since you closed the second try with income and also you doubled your threat from 0.05 to 1 mini lot, you truly made income (you misplaced 10 pips with 0, 05 tons and made 10 pips with 0.10 tons… so that you misplaced 5 pips however made again 10 rapidly. 10-5…you ended up making 5 pips on this instance!

5. Every time we shut a commerce throughout this train with income, we name this a “commerce set”! The purpose is to shut as many commerce units as attainable and all the time with lower than 7 makes an attempt!

There's nothing to fret about, even for those who lose 7 occasions as a result of we simply misplaced solely about 0.6-0.8 % of our buying and selling account.
6. In case we have now a pleasant profitable commerce (or commerce set) throughout our buying and selling session, we will proceed so long as we have now good risky markets. Bear in mind to all the time begin with 0.05 tons after a commerce set is closed!
7. We will all the time evaluate Forex pairs, however selected just one that appears extra enticing and risky to commerce.
8. If we can't focus, we don’t even begin. First we have to calm down, stretch our legs, drink quite a bit (water not OUZO) and once we really feel higher, we begin buying and selling.
9. We by no means commerce Reversal Candle Setups!
10. We don’t attempt to purpose for extra income throughout this train!

Obtain From Forex Winners DataBiz :