Forex Indicator easyMMr settings:
To play on the side of professionals means to part with the camp of the losing majority and go to the camp of the winning pros. So stop giving in to the influence of the players, who are thrown up and down, to break with them a psychological connection. In other words, a trader will have to act together with professionals against 90% of market participants.
The difference between a professional and a non-professional is in the different construction of a risk manager and the opposite actions in the same market situations. For example: the stock exchange dealer is rigidly set limits on the opening of the position and the possible losses are limited. A bank employee knows perfectly well that any violation of discipline will lead to a suspension from bidding. He also knows that if the weekly or monthly limit is exceeded, at best, he will be transferred to another job, at worst – they will be fired.
These circumstances stipulate the highest trading discipline and ultimately lead to the profitability of dealing operations. In the first place, the professional has discipline and compliance with trade regulations, in the second – no loss and only the third – the profitability of operations. Before opening a position, the analysis of risks is paramount, the second most important is the exit from the position, and only in the third place is the entry into the position. Private investors, as a rule, have the opposite. Trade in their own money leads to the prevalence of emotions over the mind, impulsiveness over discipline and, as a result, losses over profitability.
The key question that a trader answers before opening a deal is how much to risk? This is the answer to the indicator of lot calculation and risk control – easyMMr.ex4.
After joining the chart, two lines are drawn:
- The resistance line sets at the level of the value of TakeProfit;
- level for the support line is set by the StopLoss parameter in the indicator settings.
Both lines can be variably adjusted – you can drag them above and below the fixed position. Automatic recalculation of table values occurs once a minute or after switching the timeframe.